[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 332.

effectsToCause

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VeriCoin & Verium Creator/Developer

Quote from: barabbas on August 09, 2014, 11:46:27 PM

Quote from: effectsToCause on August 09, 2014, 06:48:07 PM

Quote from: SeDz on August 09, 2014, 06:39:18 PM

Quote from: yoshiwatusi on August 09, 2014, 06:30:51 PM

Quote from: souljah1h on August 09, 2014, 03:47:59 PM

http://vrcstake.ticonerd.com/ went trough the roof lol

why is the 24 high at 28M when total coins is only 26M?

i would like to know that too

Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength! Kudos to all you guys! Go VeriCoin!

Hey Doug, at the end pf the day you are going to have to explain this a whole lot more clearly so EVERYONE can understand because right now, before the end of the day, this is starting to sound suspiciously, very suspiciously, like a whole lot of CRAP.

How can a coin that has a max of less than 26 mill coins, all already mined during the POW stage, has now 28 million coins STAKING? This is preposterous. Everyone knows that there are A LOT of coins still NOT STAKING and lying on the exchanges (I know I have quite a few and they are not staking a single VRC), so how the heck can so many coins be staking? An understandable answer, without ANY bull shit, is required rather immediately, long before the end of the day, ok?

Ok first off these aren't fake numbers (this is not a scam).
Since the dawn of PoS network stake is a weight including coinage. The reason is for fair distribution of staking. If the number of coins is the only factor involved in determining the probability of a node solving a block then the small wallets would hardly ever stake. So this weight is actually the appropriate stake value for fair distribution of the stake.

However it would be much more intuitive to monitor just the number of coins currently staked. This number is in the code but is not accessible in a function of its own without coinage, because the age determines which coins in a given wallet are actually staking. In the next wallet Update though I should be able to add this pure total coin staking value as that would be more of an appropriate value to intuitively monitor. Nonetheless the weight is not going to be too much bigger than the total.

MAD945

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Quote from: pnosker on August 10, 2014, 01:17:05 AM

Quote from: YourMother on August 09, 2014, 02:40:50 PM

4.3 BTC volume on this SHITCOIN

Pack your CRYPTOBAGS boyz, you sleep outside in shoe boxes tonight.

Shitcoin is bleeding. Shitcoin is dying. Patrick Nosker made a ton of money from that Mintpal hack. He saved the exchange, made a shit ton of money off Mintpal, cause i know that they talked a lot behind the scene, and sacrificed Vericoin instead. Mark my fucking words. 4k satoshi, here i come

I didn't make any money from the hack-- in fact, if the current price is due to the hack, I have much less BTC value right now since I still have my VRC. VeriCoin would have been sacrificed if we did nothing. You clearly have no idea what you're talking about.

Patrick....sorry you have to deal with this BS after dealing with a death. Hope all is well...

The Vercoin Community sends its love

pnosker

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Quote from: YourMother on August 09, 2014, 02:40:50 PM

4.3 BTC volume on this SHITCOIN

Pack your CRYPTOBAGS boyz, you sleep outside in shoe boxes tonight.

Shitcoin is bleeding. Shitcoin is dying. Patrick Nosker made a ton of money from that Mintpal hack. He saved the exchange, made a shit ton of money off Mintpal, cause i know that they talked a lot behind the scene, and sacrificed Vericoin instead. Mark my fucking words. 4k satoshi, here i come

I didn't make any money from the hack-- in fact, if the current price is due to the hack, I have much less BTC value right now since I still have my VRC. VeriCoin would have been sacrificed if we did nothing. You clearly have no idea what you're talking about.

socal

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Once again the Devs, cool as cucumbers, come through with another amazing round of FUD busting, thanks for the clear and informative answers Pat and Doug!

MAD945

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Activity: 658

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Quote from: jobnotfound on August 10, 2014, 01:05:40 AM

Do yourselves a favor and click the "ignore" button next to barabbas' name.

You'll thank me later. Grin

It might be a surprise to some but I think Barabbas means well but he can jump the gun at times. He's a highly intelligent individual and we need to keep an open mind to opposing views.

Having an open mind and listening to constructive opposing views will make us stronger as a community.

Again I stress CONSTRUCTIVE...not angry rants and freak outs

pnosker

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Activity: 504

Merit: 250

Quote from: Xosihc on August 10, 2014, 12:57:14 AM

Quote from: pnosker on August 10, 2014, 12:25:24 AM

2. Interest is compounded continuously with consideration of the 8 hour "cooldown" period after a successful stake. Essentially, it's compounded at every ~8 hours or so, on average.

Hey, thanks for the quick reply! So from my understanding if one was to stake 24/7 the compounding period would be every 8 hours. So the difference between staking once a year vs. 24/7 would be as follows?

Staking once a year: (FV) = 100,000*(1+0.0225) = 102,250 VRC
Staking 24/7 (FV) = 100,000*(1+(0.0225/(365*3)))^(365*3))= 102,275.5

So you basically get an extra 0.02% of interest Cheesy

See Doug's answer re: transaction fees. More importantly, if few are staking, the interest rate will be quite low for you (and others) causing you to have a much lower effective rate.

pnosker

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Activity: 504

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Quote from: barabbas on August 10, 2014, 12:53:43 AM

Quote from: MAD945 on August 10, 2014, 12:42:23 AM

Quote from: barabbas on August 10, 2014, 12:37:25 AM

Do I hear crickets??

Barabbas, Patrick just answered your question...the stake can not be calculated without the coin weight included.

Excuse me?? What you say is that, in reality, it is impossible to know how many coins are staking, REAL COINS, at any and all times? Is that it?. Because if that is it, I can't think of any bigger bullshit I have heard in my entire -and quite long- life so far...

So, that is to say that for a coin with 26.8 million coins presently, -which, according to you, are impossible to account for, so it will be an arbitrary, perhaps approximate number-, it is OK to have 30 million or even more coins staking at any given moment? All of that while the exchanges are loaded with MILLIONS of coins available for trading, which are NOT staking? Is that what you are saying? Let me get it from the horse's mouth because my fingers are really itching to type what I am coming with if this bullshit position is even pretended to be maintained...

Now, since you seem to be answering for Patrick (crickets), what is your answer to the transfer of 200,000 VRC to the exchange "to help stabilize the price"? and whatever happened to them? I'm sure you will have abundant answers for those two floaters also...

Yes, it is impossible to know exactly how many coins are staking at one moment. This is the case for every PoS coin. It's not possible to stake more than 26.8M but the "effective" stake could be higher due to coin age.

As for the coins during the hack, I have all of them. I put up both buy and sell walls to ensure that if anyone lost anything, it would be me. I didn't gain or lose any VRC or BTC. I'm not sure how many more times I'll have to answer this, but the only exchange I did anything on was Bittrex and you are free to ask them whether my balance now is the same as before.

effectsToCause

hero member

Activity: 761

Merit: 505

VeriCoin & Verium Creator/Developer

Quote from: Xosihc on August 10, 2014, 12:57:14 AM

Quote from: pnosker on August 10, 2014, 12:25:24 AM

2. Interest is compounded continuously with consideration of the 8 hour "cooldown" period after a successful stake. Essentially, it's compounded at every ~8 hours or so, on average.

Hey, thanks for the quick reply! So from my understanding if one was to stake 24/7 the compounding period would be every 8 hours. So the difference between staking once a year vs. 24/7 would be as follows?

Staking once a year: (FV) = 100,000*(1+0.0225) = 102,250 VRC
Staking 24/7 (FV) = 100,000*(1+(0.0225/(365*3)))^(365*3))= 102,275.5

So you basically get an extra 0.02% of interest Cheesy

Yes this on average would be correct. Also however if you have your wallet open 24/7 you would also earn the transaction fees for every stake block you get. So the transaction fees earned will be more numerous if open 24/7 as the coinage will be more continuous.

socal

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Quote from: jobnotfound on August 10, 2014, 01:05:40 AM

Do yourselves a favor and click the "ignore" button next to barabbas' name.

You'll thank me later. Grin

oh I did and I use ScottAllyn's script that even removes the "This user is currently ignored" so from my point of view he no longer exists BUT people keep quoting him so I am forced to see whatever insanity he posts up

MAD945

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Activity: 658

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Quote from: barabbas on August 10, 2014, 12:53:43 AM

Quote from: MAD945 on August 10, 2014, 12:42:23 AM

Quote from: barabbas on August 10, 2014, 12:37:25 AM

Do I hear crickets??

Barabbas, Patrick just answered your question...the stake can not be calculated without the coin weight included.

Excuse me?? What you say is that, in reality, it is impossible to know how many coins are staking, REAL COINS, at any and all times? Is that it?. Because if that is it, I can't think of any bigger bullshit I have heard in my entire -and quite long- life so far...

So, that is to say that for a coin with 26.8 million coins presently, -which, according to you, are impossible to account for, so it will be an arbitrary, perhaps approximate number-, it is OK to have 30 million or even more coins staking at any given moment? All of that while the exchanges are loaded with MILLIONS of coins available for trading, which are NOT staking? Is that what you are saying? Let me get it from the horse's mouth because my fingers are really itching to type what I am coming with if this bullshit position is even pretended to be maintained...

Now, since you seem to be answering for Patrick (crickets), what is your answer to the transfer of 200,000 VRC to the exchange "to help stabilize the price"? and whatever happened to them? I'm sure you will have abundant answers for those two floaters also...

From a literal sense I can see where Barabbas is coming from but it simply doesn't work that way. Every coin staking will have a different weight attached to it so it would not be possible to count every single coin staking.

Patrick can ring in on the maximum weight per coin and you can do some math to come to an average range of amount of coins staking.

jobnotfound

newbie

Activity: 53

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Do yourselves a favor and click the "ignore" button next to barabbas' name.

You'll thank me later. Grin

socal

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Activity: 532

Merit: 500

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LMAO

It's soooooo funny when people get mad because they can't grasp simple concepts like "Stake Weight" and start screaming nonsense. My mental image is of Cro-magnon coming into contact with a computer and smashing it because he can't figure it out lmao Cheesy

Xosihc

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Activity: 538

Merit: 500

Hello

Quote from: barabbas on August 10, 2014, 12:53:43 AM

Quote from: MAD945 on August 10, 2014, 12:42:23 AM

Quote from: barabbas on August 10, 2014, 12:37:25 AM

Do I hear crickets??

Barabbas, Patrick just answered your question...the stake can not be calculated without the coin weight included.

Excuse me?? What you say is that, in reality, it is impossible to know how many coins are staking, REAL COINS, at any and all times? Is that it?. Because if that is it, I can't think of any bigger bullshit I have heard in my entire -and quite long- life so far...

So, that is to say that for a coin with 26.8 million coins presently, -which, according to you, are impossible to account for, so it will be an arbitrary, perhaps approximate number-, it is OK to have 30 million or even more coins staking at any given moment? All of that while the exchanges are loaded with MILLIONS of coins available for trading, which are NOT staking? Is that what you are saying? Let me get it from the horse's mouth because my fingers are really itching to type what I am coming with if this bullshit position is even pretended to be maintained...

Now, since you seem to be answering for Patrick (crickets), what is your answer to the transfer of 200,000 VRC to the exchange "to help stabilize the price"? and whatever happened to them? I'm sure you will have abundant answers for those two floaters also...

Dude if you think it's buillshit just move on, sell your coins, and go find a coin where you can find the answer and be happy. No one is making you hold this coin. So please stop playing the victim card.

I'm also going to sleep, so no need to reply back to me.

Xosihc

hero member

Activity: 538

Merit: 500

Hello

Quote from: pnosker on August 10, 2014, 12:25:24 AM

2. Interest is compounded continuously with consideration of the 8 hour "cooldown" period after a successful stake. Essentially, it's compounded at every ~8 hours or so, on average.

Hey, thanks for the quick reply! So from my understanding if one was to stake 24/7 the compounding period would be every 8 hours. So the difference between staking once a year vs. 24/7 would be as follows?

Staking once a year: (FV) = 100,000*(1+0.0225) = 102,250 VRC
Staking 24/7 (FV) = 100,000*(1+(0.0225/(365*3)))^(365*3))= 102,275.5

So you basically get an extra 0.02% of interest Cheesy

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: MAD945 on August 10, 2014, 12:42:23 AM

Quote from: barabbas on August 10, 2014, 12:37:25 AM

Do I hear crickets??

Barabbas, Patrick just answered your question...the stake can not be calculated without the coin weight included.

Excuse me?? What you say is that, in reality, it is impossible to know how many coins are staking, REAL COINS, at any and all times? Is that it?. Because if that is it, I can't think of any bigger bullshit I have heard in my entire -and quite long- life so far...

So, that is to say that for a coin with 26.8 million coins presently, -which, according to you, are impossible to account for, so it will be an arbitrary, perhaps approximate number-, it is OK to have 30 million or even more coins staking at any given moment? All of that while the exchanges are loaded with MILLIONS of coins available for trading, which are NOT staking? Is that what you are saying? Let me get it from the horse's mouth because my fingers are really itching to type what I am coming with if this bullshit position is even pretended to be maintained...

Now, since you seem to be answering for Patrick (crickets), what is your answer to the transfer of 200,000 VRC to the exchange "to help stabilize the price"? and whatever happened to them? I'm sure you will have abundant answers for those two floaters also...

MAD945

hero member

Activity: 658

Merit: 500

Quote from: barabbas on August 10, 2014, 12:37:25 AM

Do I hear crickets??

Barabbas, Patrick just answered your question...the stake can not be calculated without the coin weight included.

socal

hero member

Activity: 532

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

to any of you with questions or concerns about the multipool check out this kickass payout I just got running at only 3 MH/s Scrypt (this is my first payout since yesterday and if I stopped mining now I would continue to get payouts for another day or two)

EDIT:

I misspoke I didn't "Just" get it I got it about 9 hours ago but I just now checked my wallet lol

barabbas

legendary

Activity: 1162

Merit: 1000

Do I hear crickets??

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: socal on August 10, 2014, 12:29:06 AM

Manipulation, but like all things it too will pass and we will be back on the uptrend, as long as we stay positive as a community, continue to spread the word about VRC, don't dump and the Devs keep on delivering like they have been.

How do you stay positive -rhetorical question, of course, I wouldn't expect any intelligent answer from you just like I wouldn't expect from a rock- when you see that the coins you are supporting all of a sudden seem to magically have multiplied?

Bobsurplus

legendary

Activity: 1008

Merit: 1000

Making money since I was in the womb! @emc2whale

Quote from: davided on August 10, 2014, 12:27:01 AM

It's sad to see the price dropping.What happended!

Ummmmm.... Does a RollBack sound familiar to you?

Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 332. (Read 1356147 times)