No one on HT seems keen to answer my
simple questions so maybe someone here can provide answers.
1) What is the technical means by which a "staked" Paycoin will be prevented from being spent/transferrred?
2) If I stake a Paycoin in a Hashtaker wallet, will that coin remain in my wallet or will it be transferred (temporarily) to somewhere else?
2a) If the staked coins are transferred out of my wallet, then where do they go (the trust, GAW, Prime Controllers, God)?
2b) If the staked coins remain in my wallet, what is the technical means by which spending and transferring are prohibited?
Is any of this spelled out anywhere? If not for Paycoin, then for any other PoS coins?
It seems critical to prevent double stake + spend so I would imagine there is a good answer for this, given that the wallet is due to launch any minute now.
Are you talking about HashStaker, or your own wallet (5% APY)?
HashStaker is just a widget on a website, you don't own private keys, so it's easy to prevent spending, no cryptographical magic needed. Coins should be sitting in cold storage, but there was some talk about them being loaned for merchant transactions, so I don't know that part.
Your own wallet stakes only as long as the coin remains in it. Again, no need to prevent spending, as soon as you spend it staking stops.
