[ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch) - page 19.

STEEMD

member

Activity: 83

Merit: 10

Quote from: thereverseflash on March 31, 2016, 11:30:42 AM

Account steemit now has "vesting_shares": "260554.000000 VESTS"
The network now has "total_vesting_shares": "336943.000000 VESTS"
The network currently has 401,632.500 STEEM in accounts and/or vesting.
Total Liquid Steem right now: 64,657.000 STEEM (16% of supply) most of which is held by people on Bitcoin Talk.

Eclipse Crytpo need not worry about us dumping any faster than anyone else.

Based on this data i wont sell my coins less than 0.02 BTC per STEEM Cool

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Account steemit now has "vesting_shares": "260554.000000 VESTS"
The network now has "total_vesting_shares": "336943.000000 VESTS"
The network currently has 401,632.500 STEEM in accounts and/or vesting.
Total Liquid Steem right now: 64,657.000 STEEM (16% of supply) most of which is held by people on Bitcoin Talk.

Eclipse Crytpo need not worry about us dumping any faster than anyone else.

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: SalimNagamato on March 31, 2016, 03:47:54 AM

how to use withdraw_vesting ?
tried: withdraw_vesting "myaccount" "100" true

(edit)

This particular wallet API call is being tweaked to make it more friendly. Will provide instructions in a bit.

SalimNagamato

legendary

Activity: 924

Merit: 1000

how to use withdraw_vesting ?
tried: withdraw_vesting "myaccount" "100" true

(edit)

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: BleedCrypto on March 30, 2016, 05:35:30 PM

when can we have a windows version compiled?

id like to be able to mine at home

Windows binaries may be available in a couple of weeks unless someone would like to volunteer to build them.

BleedCrypto

newbie

Activity: 16

Merit: 0

when can we have a windows version compiled?

id like to be able to mine at home

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: Panadacoin on March 30, 2016, 11:39:05 AM

Quote from: thereverseflash on March 30, 2016, 11:37:06 AM

Quote

I stopped mining when I realized how much he was using...

In other words, you concluded that the price was too high and let us outbid you for the STEEM.

So I guess the questions that everyone should be asking is:
Why do the devs value STEEM so highly that they would spend thousands of dollars mining their own coin?

The total cost of the hash power spent on STEEM (assuming everyone was paying via EC2) is less than $3000.

Should STEEM have a market cap of less than $3000?

Even coins such as BBQCoin and others have a market cap north of $50,000 and contain little innovation. You would have to rank STEEM lower than Vcoin (#309 on CMM) to not mine at these prices.

Do you own a small botnet, or are you using work-related computers? I really doubt you are actually paying for all these hashes.

We are actually paying for them via Amazon EC2. A botnet would violate property rights of others. It is actually cheaper to buy amazon EC2 machines than for me to setup a dozen mac minis I have laying around.

You can take my word for it (or not).

Panadacoin

sr. member

Activity: 296

Merit: 251

Quote from: thereverseflash on March 30, 2016, 11:37:06 AM

Quote

I stopped mining when I realized how much he was using...

In other words, you concluded that the price was too high and let us outbid you for the STEEM.

So I guess the questions that everyone should be asking is:
Why do the devs value STEEM so highly that they would spend thousands of dollars mining their own coin?

The total cost of the hash power spent on STEEM (assuming everyone was paying via EC2) is less than $3000.

Should STEEM have a market cap of less than $3000?

Even coins such as BBQCoin and others have a market cap north of $50,000 and contain little innovation. You would have to rank STEEM lower than Vcoin (#309 on CMM) to not mine at these prices.

Do you own a small botnet, or are you using work-related computers? I really doubt you are actually paying for all these hashes.

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote

I stopped mining when I realized how much he was using...

In other words, you concluded that the price was too high and let us outbid you for the STEEM.

So I guess the questions that everyone should be asking is:
Why do the devs value STEEM so highly that they would spend thousands of dollars mining their own coin?

The total cost of the hash power spent on STEEM (assuming everyone was paying via EC2) is less than $3000.

Should STEEM have a market cap of less than $3000?

Even coins such as BBQCoin and others have a market cap north of $50,000 and contain little innovation. You would have to rank STEEM lower than Vcoin (#309 on CMM) to not mine at these prices.

Jookly

legendary

Activity: 1131

Merit: 1007

Quote from: thereverseflash on March 30, 2016, 11:25:38 AM

Quote from: Jookly on March 30, 2016, 10:52:15 AM

It looks like I did! I am still seeing the same ammount of hps but when I just did my list_my_accounts command I now see I have 41 STEEM and 1 VESTS . How did I get a VEST without explicitly converting to it? I clearly have a lot to understand still

All accounts must have some VESTS without which they could not transact. So the first time you submit a POW it automatically converts the 1.000 STEEM to VESTS, all subsequent rewards are paid as STEEM.

ah cool. Thanks for the explanation.

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: Jookly on March 30, 2016, 10:52:15 AM

It looks like I did! I am still seeing the same ammount of hps but when I just did my list_my_accounts command I now see I have 41 STEEM and 1 VESTS . How did I get a VEST without explicitly converting to it? I clearly have a lot to understand still

All accounts must have some VESTS without which they could not transact. So the first time you submit a POW it automatically converts the 1.000 STEEM to VESTS, all subsequent rewards are paid as STEEM.

SalimNagamato

legendary

Activity: 924

Merit: 1000

yes me too need to understand a lot
never seen a coin mined this way... POW->queue->reward
like the reverseflash said... need to mine with 2 accounts. so POW never stop after first account enters the queue
if have crazy hashrate mine with more than 2

Jookly

legendary

Activity: 1131

Merit: 1007

Quote from: SalimNagamato on March 30, 2016, 10:44:36 AM

Quote from: Jookly on March 30, 2016, 10:37:33 AM

Quote from: Panadacoin on March 30, 2016, 10:31:24 AM

Quote from: Jookly on March 29, 2016, 11:15:56 AM

Hi it's me again . The little noob that could. Wink

So at this point I am seeing lots of what looks like hashing going on. It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block. So does it sound like it is working? 2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thanks yeah. I figured it would take along time but I am just going to let it go for now. Would be fun to see a little STEEM show up

did you find a block yet ?
if it goes to 0 hps and you have only 1 account configured. it means you've found POW block and entering a queue to generate reward blocks
so shouldn't close wallet when this happens
i have VPS mining since launch (2kh/s) already generated 170 coins
do you see your account with cli wallet?

developers of the coin: how to use command withdraw_from_vesting ?

It looks like I did! I am still seeing the same ammount of hps but when I just did my list_my_accounts command I now see I have 41 STEEM and 1 VESTS . How did I get a VEST without explicitly converting to it? I clearly have a lot to understand still

SalimNagamato

legendary

Activity: 924

Merit: 1000

Quote from: Jookly on March 30, 2016, 10:37:33 AM

Quote from: Panadacoin on March 30, 2016, 10:31:24 AM

Quote from: Jookly on March 29, 2016, 11:15:56 AM

Hi it's me again . The little noob that could. Wink

So at this point I am seeing lots of what looks like hashing going on. It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block. So does it sound like it is working? 2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thanks yeah. I figured it would take along time but I am just going to let it go for now. Would be fun to see a little STEEM show up

did you find a block yet ?
if it goes to 0 hps and you have only 1 account configured. it means you've found POW block and entering a queue to generate reward blocks
so shouldn't close wallet when this happens
i have VPS mining since launch (2kh/s) already generated 170 coins
do you see your account with cli wallet?

developers of the coin: how to use command withdraw_from_vesting ?

Jookly

legendary

Activity: 1131

Merit: 1007

Quote from: Panadacoin on March 30, 2016, 10:31:24 AM

Quote from: Jookly on March 29, 2016, 11:15:56 AM

Hi it's me again . The little noob that could. Wink

So at this point I am seeing lots of what looks like hashing going on. It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block. So does it sound like it is working? 2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thanks yeah. I figured it would take along time but I am just going to let it go for now. Would be fun to see a little STEEM show up

Panadacoin

sr. member

Activity: 296

Merit: 251

Quote from: Jookly on March 29, 2016, 11:15:56 AM

Hi it's me again . The little noob that could. Wink

So at this point I am seeing lots of what looks like hashing going on. It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block. So does it sound like it is working? 2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: penambang on March 30, 2016, 03:09:57 AM

just curious, what is your hashrate guys?
I'm not getting any block after 6 hours mining.

My hashrate 11k-12k using AMD phenom 2 x6

At the current difficulty level, 16K HPS takes about 520 minutes (expected time) or 8.6 hours. On your machine I would expect it to take about 10 hours to solve a block.

penambang

hero member

Activity: 548

Merit: 501

just curious, what is your hashrate guys?
I'm not getting any block after 6 hours mining.

My hashrate 11k-12k using AMD phenom 2 x6

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: drays on March 29, 2016, 04:15:13 PM

Quote from: thereverseflash on March 29, 2016, 02:48:11 PM

Vesting pays a dynamic amount of interest depending upon the percent of STEEM held in vesting.

For every 1 STEEM printed to pay miners, block producers, and others, 9 STEEM is printed to pay VESTS.

This means that if 90% of STEEM is held in VESTS then the inflation-adjusted rate of return is 0%.
This means if 1% of STEEM is held in VESTS then the inflation adjusted rate of return is practically infinite.
This means that if 95% of STEEM is held in VESTS then the inflation adjusted rate of return is negative.

Bottom line: VESTS holders are protected from almost all inflation, *but* they are illiquid, non-transferrable, non-divisible.

You can withdraw_from_vesting via 104 equal weekly payments that are automatically scheduled by the blockchain.

If you requested a payout, during those 104 weeks, do the remaining funds in the VESTS receive the same benefits as regular VEST-ed funds, or at the moment when you requested the payout, you immediately lose all benefits of VESTS (voting, inflations protection etc)?

The remaining funds retain their benefits and you can cancel the withdraw request at any time.

drays

legendary

Activity: 2576

Merit: 1073

Quote from: thereverseflash on March 29, 2016, 02:48:11 PM

Vesting pays a dynamic amount of interest depending upon the percent of STEEM held in vesting.

For every 1 STEEM printed to pay miners, block producers, and others, 9 STEEM is printed to pay VESTS.

This means that if 90% of STEEM is held in VESTS then the inflation-adjusted rate of return is 0%.
This means if 1% of STEEM is held in VESTS then the inflation adjusted rate of return is practically infinite.
This means that if 95% of STEEM is held in VESTS then the inflation adjusted rate of return is negative.

Bottom line: VESTS holders are protected from almost all inflation, *but* they are illiquid, non-transferrable, non-divisible.

You can withdraw_from_vesting via 104 equal weekly payments that are automatically scheduled by the blockchain.

If you requested a payout, during those 104 weeks, do the remaining funds in the VESTS receive the same benefits as regular VEST-ed funds, or at the moment when you requested the payout, you immediately lose all benefits of VESTS (voting, inflations protection etc)?

Topic: [ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch) - page 19. (Read 133095 times)