Topic: IMPORTANT DATA: Leaving the PoW Mining and Why... (Read 1644 times)

When coins in TXO state find a block, what happen with their TXO-age?  Is it released to 0 and waiting to 20 days old again to enter in TXO state, or what?

PoS works using TXO-age, technically that is coin-age, but to avoid confusion it should be noted that it is the TXO that are relevant.

PoS blocks take all TXO that meet the minimum age(not coin-age or TXO-age, specifically TXO age, no "-" means not multiplied with amount), makes a transaction that inputs your stake coins and outputs new coins(this uses TXO-age) plus the old coins.
This becomes a new TXO.

There is no finding PoS blocks, you generate a PoS block with the transaction pool and propagate the block, it becomes valid if other nodes generating blocks accept it and use its hash for the next block.
It can become orphaned depending on timing and propagation speed, in such case the stake transaction is invalid and your wallet will try again to generate the PoS block with the same TXO's.

How PoS works?

There is a new concept in PoS: CoinAge.  I can be in days or in years, for example in days is:

CoinDays=Amount*DaysOldInWallet

The probability of find a block is proportional to CoinAge that you have, and when you find one your reward is:

Block Reward in ZEITs  = (CoinDays/365)*0.25

ZEIT: 0.25 first year; 0.20 second year; 0.15 third year; 0.05...
MINT: 0.20 first year; 0.15 second year; 0.10 third year; 0.05...

Sample of mining PoS on ZEIT:

You have to wait the same time than PoW to obtain profit.  With PoS every day you have solved blocks and your rewards...  My post is to show that it is possible do the same with PoS than PoW, but without Energy use and its cost...

Yes 0,0068 BTC/day at the current price...

You must have a stop loss (your risk limit) to sell in case price goes down.  In the same way that any other investment...

Nope, electricity does not cost the same everywhere. Also some people have a flat rate monthly electrical bill.

And the problem with your idea is that you have to wait 1 year to get profit. The coin could die during this time, then you get nothing.

Look man, this is classic coin shilling/pumping disguised as concern for miners.

This thread doesn't even belong in this sub-forum.

What if price doesn't increase, I'll be earning 0.006 btc/day after I invested 10 BTC in it?
What if the price goes down, I lose 10 BTC?

Yes I think so, that people dont know how PoS works...  I have publish and blog article, but it is in spanish, perhap with google traslator:

http://translate.google.es/translate?hl=es&sl=es&tl=en&u=http%3A%2F%2Fwww.ejemplosbitcoin.com%2Fprueba-de-trabajo-vs-prueba-de-participacion%2F&sandbox=1

And this about MINT and ZEIT:

http://translate.google.es/translate?hl=es&sl=es&tl=en&u=http%3A%2F%2Fwww.ejemplosbitcoin.com%2Fnuevas-monedas-pos-como-deposito-de-valor%2F

I think there's no hurry...  The time will put things in place.

I've been making roughly the same point on the Zeit Community thread  - for sure it's now more efficient to mine other coins & buy Zeit with the 'profits'.

The problem is, too many people are treating Zeit as if they have NO IDEA about what PoS could mean for them. They are happy to sell it immediately they mine it, while nearby predators are happy snapping it up for a satoshi then immediately putting it into the sell-walls to make 400%.

OK, that makes it easier for us dedicated paupers to grab up a few more million Zeit to sit on for a year or two at least, but unfortunately means there are those 'short-sighted greed-walls' to hammer down before the coin can be free to find its true level - which I suspect COULD be in the hundreds if not thousands of satoshi each....

... once more people make the same insights that you have.

Keep on spreading the word

Yes of course, it was an error, it is already corrected.

Thanks...

I assume you mean 10 btc worth of zeit?

I'm a fan of PoS mining as well, especially after seeing my electrical bill. 

Right now, the cost of electricity is 0.09€/KH/month or so, if you have 2500KH, paid about 225€/month for PoW mining. At current Altcoins price you lose money on PoW mining. Who are mining currently, do it with the hope that the Altcoins are revalued in the future to obtain the ROI.

In this scenario, I think it is smart to go to PoS mining, leaving PoW, with simple calculations for ZEITCOIN I indicate why:

Imagine you buy 10 BTC worth of ZEIT at current selling price: 0.00000002 BTC/ZEIT.  You will get 500,000,000 ZEIT.  
Twenty days after your wallet will generate during the first year: 342,465 ZEIT/day.

If ZEIT price increases during the first year, your daily profit would be:

If the ZEIT rise up to 0.00000005 BTC/ZEIT, you would have earned during that first year: 0.0171 BTC/day (6.25 BTC/year, Total: 31,25 BTC).
If the ZEIT rise up to 0.00000010 BTC/ZEIT, you would have earned during that first year: 0.0342 BTC/day (12.50 BTC/year, Total: 62,50 BTC).
If the ZEIT rise up to 0.00000015 BTC/ZEIT, you would have earned during that first year: 0.0514 BTC / day (18.75 BTC/year, Total: 93,75 BTC).

It is more or less the same as PoW mining, but investing in PoS Coins instead of spending money on Electricity and Hardware, which seems more logical and clean...

The PoS mining cost has been 10 BTCs.
The PoW mining cost has been (Rig Cost+225€*12months) about 10 BTCs too.  Now, PoW mining obtain the same rate (0.0171 BTC/day) than PoS ZEIT mining if ZEIT price was 5 satoshis, which is not unlikely...  That's where is my bet...  Although in my case did not have many BTCs to buy ZEIT, my calculations are more modest, but the principle on which they are based is the same as I show here.

You can do similar numbers to MINT, because works like ZEIT, but with 20% interest rate the first year, rather than 25% of ZEIT... And then choose the one you like more to PoS mining...  

ECCoin is simillar too...