Topic: [ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet - page 217. (Read 268507 times)

Wanna fix that link?  Im curious

Dunno if dev posted this in here

But he showed us this pic in POLONIEX about 30 or so minutes ago.


chrome://mega/content/secure.html#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms

missed the launch on this, is there anything special to downloading the wallet, doesn't seem to work for me

don't see anything in roaming or a working qt file

downloaded several times

Yes, while most devs are anonymous for a reason, (people would sell the second they find out they are clueless) This is the opposite situation. I was transferring BTC to buy more as fast as could.

Keep your XC into your wallet for minimum of 8 hours, you will see interest. But notice, it is not guaranteed to see interest as soon as you reach 8 hours. It depends on how many people are trying to stake, which can be indicated to a PoS difficult found in wallet. But what that number really means is hard to be translated to actual expected time to stake.

Ok. Then I have more questions.. sorry..

1: What is the maximum number of PoW block hight? Is it fixed or it varies? It seems to be the later case. If yes, how do we determine when to stop doing PoW instead of just wait and see when it stop producing coins.  

2: How does PoS affects the PoW stage? i.e does more people doing PoS mean less PoW blocks, or the other way around?
Does XC use any standards that I can find somewhere to get to understand it? Sorry, all PoS coins I got into was the initial-PoW-distribution-then-pure-PoS type.

3: Does the PoS goes on to perpetuity? Or it stops at the prescribed number of total supply.

Btw, because XC is new, and 3.33% is fairly low, at least for new coins, I would guess most of people will keep their XC on exchanges instead of sitting in wallets to stake. Until the price stabilizes enough to justify the low 3.33% yearly rate, I would guess this will be always the case.

How does PoS work? I am mining XC right now, but what do I need to do for PoS?

This coin is a Hybrid pow/pos, so it does both NOW...

https://mega.co.nz/#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms


here is a screenshot of the transaction, it can be verified via blockchain explorer, granted this is the older code but it clearly shows the mixer working

23    X11Coin   $ 1,562,150   $ 0.32   4,853,198 XC   $ 189,795   +242.11 %

I have a question for the DEV.

The XC website says there are 100k total PoW blocks w/ 333XC/block, which is 33.3mil total XC from PoW.
But the OP also says "Total Coins:33.3Million ", did you mean total coins for PoW, or??

The OP also says "17M~33.3Million - Estimated due to POS blocks reducing POW", what does this mean?
It sounds like PoS happens simultaneously with PoW and has an impact on how many coins will be produced from PoW.

To me a common PoW/PoS coin usually means:
1: A prescribed maximum hight of PoW blocks w/ prescribed coins per block.
2: PoS only starts after PoW stage ends.

Please clarify!

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Besides above, I call for a increased PoS rate w/ coin control feature (i.e ability to control which coins to send out. So you can send the coins w/ minimum age)

1: 3.33% to perpetuity is a bit high for long term. 1%-2% is better, assuming the long term survival of XC.

2: 3.33% is too low for initial months/year.
     i) Initial attention/attraction is crucial for any cryptos.
    ii) Crypto world mainly consists of younger and impatient people,
    iii) Crypto prices are highly volatile, not to mention 3.33% is not attractive even for fiat based instrument.
Thus, 3.33% is neither attractive, especially more so for cryptos, nor mitigate the risk of holding the coins. As a result, the "PoS" part of the coin is not appealing.

I suggest a higher initial PoS rate and decreases in shorter time intervals(weeks or months) while keeping the total theoretical supply the same.
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In addition, if this is not too complicated to implement, an adaptive PoS rate should be better.
i.e:
The network automatically adjusts the PoS rate to maintain the total supply as a prescribed supply curve.
Somewhat like a PoS rate difficulty, if more people try to stake, the lower the PoS rate and vice versa. (
Of course, the instantaneous PoS rate must be explicitly shown in the wallet so people can make informed decision when to stake.

This is actually somewhat like how banks do it. They don't give a fixed APR schedule that lasts forever. They adjust the APR based on various factors, which are far more complicated than cryptos, at least for now.
 

Looks like coin is going to 0.001 soon

Has there been an announcement yet?

Get some well deserved rest, you make altcoin community proud!

+1

Thanks for all the hard work!

 https://www.mintpal.com

soon

Well crap I always miss out SO I assume then the more coins you have the more you obtain just as you would with mining, more miners more coins

Thanks for all your hardwork atc .  Get some well deserved rest, tommorow is going to be one for the books

Moving from POS just means that after POW (Which is the mining portion) the only way to obtain coins would be to stake them in your wallet ( Holding them in a personal wallet not an exchange) or to purchase them.  

well after a marathon work week, with very little sleep or food, I am going to celebrate this huge milestone and then get some rest!!!

it was a great adventure getting to this point and I want to say thank you to all of those you helped along the way!! this is only the beginning for XC!!!!