Yes agreed, we are still in early adopter/evolution stages at the moment and these coins are going to get much harder to come by via POW and sooner than expected this year.
I say that with a slight smile as I have a wallet with my first HBN solo POW block dated 24-07-2013 - wish I could say I've mined continuously but ...
I suppose we will also need to account for the inevitable migration of GPUs away from the LTC and other currently profitable straight scrypt coins also beefing up the nethash on other coin.
It will be interesting to see how various implementations of POS holds up against the possibility of 51% when we consider just 3 of these "Titans" will produce more hash rate than the current HBN network.
Anyways I'm just wondering out loud because I know I need to know more.
*edit And as I type the nethash of HBN goes to 374 .. so call it a round 4 "Titans"
Topic: HoboNickels - HBN - High Fast Stake - Version 2.0! More Secure, Less Intensive - page 242. (Read 478852 times)
March 21, 2014, 12:11:33 PM
March 21, 2014, 12:08:38 PM
With the spread of gridseed and yesterdays announcement from KNC for the 100Mh Titan Scrypt miner are there any plans to fork HBN to a more resistant POW?
My vote is keep the HBN structure the same. My reasoning is simple. If Scrypt asics make the network hash rate rise, then PoW difficulty will rise to the appropriate rate to continue to produce 30 second blocks. After the increase in PoW difficulty, our stakes will be equivalent to a higher hash rate than they were before asics hit the market. My reasoning tells me that the increased PoW diff will make it so our stakes are equivalent to more hashing power. So.... load up on HBN now while it is still cheap, at least that is my plan.
I agree... This is the beauty of PoS, IMHO! You can still earn BTC at a reasonable rate and with no messing around with hardware. And with difficulty of PoW rising up... the value of holding PoS coins can only go up. Not to mention depreciation of the hardware that is considerably high...
If only people knew/realized that, PoS coins wouldn't be so cheap. Yep! Loading up while we can
March 21, 2014, 10:56:29 AM
With the spread of gridseed and yesterdays announcement from KNC for the 100Mh Titan Scrypt miner are there any plans to fork HBN to a more resistant POW?
My vote is keep the HBN structure the same. My reasoning is simple. If Scrypt asics make the network hash rate rise, then PoW difficulty will rise to the appropriate rate to continue to produce 30 second blocks. After the increase in PoW difficulty, our stakes will be equivalent to a higher hash rate than they were before asics hit the market. My reasoning tells me that the increased PoW diff will make it so our stakes are equivalent to more hashing power. So.... load up on HBN now while it is still cheap, at least that is my plan.
March 21, 2014, 07:10:31 AM
With the spread of gridseed and yesterdays announcement from KNC for the 100Mh Titan Scrypt miner are there any plans to fork HBN to a more resistant POW?
March 20, 2014, 10:27:22 PM
Now I can't tell people I keep hobos hiding in my computer. :p
You can say my computer is minting nickels..
Ya I'm just mint'n nicks now...
March 20, 2014, 06:11:00 PM
Now I can't tell people I keep hobos hiding in my computer. :p
March 20, 2014, 05:57:44 PM
Yea, HBN better 
March 20, 2014, 05:54:32 PM
Sounds like a consensus to me. I'll do this for 1.4.
March 20, 2014, 05:27:12 PM
i vote HBN too!
March 20, 2014, 03:45:37 PM
My vote is HBN. But if it is difficult or will cause any potential problems, it hasn't bothered me enough to make Tranz go through all the trouble.
March 20, 2014, 02:28:56 PM
unick and Tranz, thanks for the answers! Now everything is crystal clear to me. 
Tranz, as I said earlier, HBN has the best wallet in the crypto world, thank you for all your work. Those clickable icons with info tabs in the latest release are simply fantastic as well as many other useful features. BTW, do you plan to finally change HOBO to HBN in your wallet?
Tranz, as I said earlier, HBN has the best wallet in the crypto world, thank you for all your work. Those clickable icons with info tabs in the latest release are simply fantastic as well as many other useful features. BTW, do you plan to finally change HOBO to HBN in your wallet?
No problem, glad to have helped.
@Tranz... I really don't mind the HOBO, but for consistency sake (and maybe profesionalism) with the exchanges, I think we should go with HBN.
March 20, 2014, 02:14:17 PM
unick and Tranz, thanks for the answers! Now everything is crystal clear to me.
Tranz, as I said earlier, HBN has the best wallet in the crypto world, thank you for all your work. Those clickable icons with info tabs in the latest release are simply fantastic as well as many other useful features. BTW, do you plan to finally change HOBO to HBN in your wallet?
Tranz, as I said earlier, HBN has the best wallet in the crypto world, thank you for all your work. Those clickable icons with info tabs in the latest release are simply fantastic as well as many other useful features. BTW, do you plan to finally change HOBO to HBN in your wallet?
I don't know, it was originally HBN, then it was changed by another dev to Hobo. I've left it. I think HBN is more professional, but Hobo is more fun. So I'd leave it up to you guys.
I can change it to HBN for release 1.4, what say you all?
March 20, 2014, 01:51:43 PM
unick and Tranz, thanks for the answers! Now everything is crystal clear to me.
Tranz, as I said earlier, HBN has the best wallet in the crypto world, thank you for all your work. Those clickable icons with info tabs in the latest release are simply fantastic as well as many other useful features. BTW, do you plan to finally change HOBO to HBN in your wallet?
Tranz, as I said earlier, HBN has the best wallet in the crypto world, thank you for all your work. Those clickable icons with info tabs in the latest release are simply fantastic as well as many other useful features. BTW, do you plan to finally change HOBO to HBN in your wallet?
March 20, 2014, 01:31:26 PM
Correct.
Some coins have imposed a hard limit on the reward for Stake. Whether it be from 1 very large block, or a very old block. HBN does not have that restriction. It is worth discussing if it should or not.
Some coins have imposed a hard limit on the reward for Stake. Whether it be from 1 very large block, or a very old block. HBN does not have that restriction. It is worth discussing if it should or not.
March 20, 2014, 01:12:49 PM
Sorry guys, you made it even harder for me to understand. Let's clear this up once again.
I do understand that a larger block has priority over a smaller block at the same stake age. But...
Tranz said: "All blocks can generate stakes up to the current yearly interest rate." Yearly, not monthly. And the yearly PoS interest right now is 100%.
That's why please be more precise this time (just for dummies like me).
If I have a locked HBN wallet and hold it (for example) for 90 days, what PoS % will I get?
A. 5-6% (as for 30 days, all days above 30 are ignored) or
B. 15-18% (as for 30 + 30 + 30 days)?
I do understand that a larger block has priority over a smaller block at the same stake age. But...
Tranz said: "All blocks can generate stakes up to the current yearly interest rate." Yearly, not monthly. And the yearly PoS interest right now is 100%.
That's why please be more precise this time (just for dummies like me).
If I have a locked HBN wallet and hold it (for example) for 90 days, what PoS % will I get?
A. 5-6% (as for 30 days, all days above 30 are ignored) or
B. 15-18% (as for 30 + 30 + 30 days)?
I'd say B. (Tranz could confirm that for us).
You are not losing interest, but you are missing on the compound effect of your interest.
In your example, if you open your wallet every 30 days, you get compounded interest of 3 times at ~6% each time, if you open only once (at the end of 90 days) you will get 1 time the ~18% interest. Mind you, PoS is based on luck, you will lose even more compound if you consider that you can earn interest every 10 days. I don't have a compound interest calculator handy but you will miss about 9 period of interest in that 90 days period.
coin age is really used to prioritized the blocks of PoS on the network. It's used in the stake weight formula to set that priority. Once you get your PoS reward, the block is splitted and the cycle restarts fresh.
If you have small blocks, chances are very slim that you will stake right at the 10 days mark since their weight won't be enough against bigger blocks. After 30 days, then it's just a matter of time but you will eventually get your PoS rewards. For larger blocks, if you wait longer to open your wallet, you will certainly lose more on that compound effect, since those blocks usually stake near 10 days.
Hope it clarifies things for you
have you looked at: http://wiki.hobonickels.info/index.php?title=Proof_of_Stake
March 20, 2014, 11:18:41 AM
Sorry guys, you made it even harder for me to understand. Let's clear this up once again.
I do understand that a larger block has priority over a smaller block at the same stake age. But...
Tranz said: "All blocks can generate stakes up to the current yearly interest rate." Yearly, not monthly. And the yearly PoS interest right now is 100%.
That's why please be more precise this time (just for dummies like me).
If I have a locked HBN wallet and hold it (for example) for 90 days, what PoS % will I get?
A. 5-6% (as for 30 days, all days above 30 are ignored) or
B. 15-18% (as for 30 + 30 + 30 days)?
I do understand that a larger block has priority over a smaller block at the same stake age. But...
Tranz said: "All blocks can generate stakes up to the current yearly interest rate." Yearly, not monthly. And the yearly PoS interest right now is 100%.
That's why please be more precise this time (just for dummies like me).
If I have a locked HBN wallet and hold it (for example) for 90 days, what PoS % will I get?
A. 5-6% (as for 30 days, all days above 30 are ignored) or
B. 15-18% (as for 30 + 30 + 30 days)?
March 20, 2014, 10:33:19 AM
Excellent, thanks to you both for clearing that up for me.
March 20, 2014, 09:57:08 AM
So the 30 days is the maximum priority they can ever reach in competition with all stake ready (10+ day) coins on the network,
anything over 30 is just ignored.
anything over 30 is just ignored.
Well age is ignored over 30 days, but not block size. So 100 HBN at 40 days and 1000 HBN at 40 days, 1000HBN will stake before 100HBN
March 20, 2014, 09:50:07 AM
So the 30 days is the maximum priority they can ever reach in competition with all stake ready (10+ day) coins on the network,
anything over 30 is just ignored.
anything over 30 is just ignored.
March 20, 2014, 09:39:37 AM
Thanks Tranz
So how would you describe the max coin age of 30 days?
What does this mean in practical terms?
So how would you describe the max coin age of 30 days?
What does this mean in practical terms?
Essentially, if you have 100 coins that are 180 days old, and I have 100 coins that are 45 days old. Both will have equal opportunity to generate stake.
Whereas 100 coins at 10 days, has less chance than 100 coins at 20 days.
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