[POS Coin] How does Staking work? | Bitcointalksearch.org

Enzyme

sr. member

Activity: 420

Merit: 250

Quote from: DannyHamilton on February 11, 2015, 11:06:34 PM

Quote from: Enzyme on February 11, 2015, 09:39:28 PM

Hey Guys,

I tried 'splitting' my coins by sending a transaction to myself consisting of half my coin count.
I think I may have misunderstood how 'splitting' works.

Anyway, how do you gain the highest weight with the lowest amount of coins?

Thanks

I'm not sure what you are trying to do.

Why did you send half of your bitcoins to yourself?

Why are you trying to "split" your bitcoins?

What do you mean when you say "highest weight"? Bitcoins are electronic, they don't weigh anything.

Sorry, maybe I put this in the wrong section. I was asking about POS coins.
I already know Bitcoin uses POW and how that works.

Quickseller

copper member

Activity: 2926

Merit: 2348

I think you have Bitcoin confused with a PoS coin.

With Bitcoin, having fewer, and larger inputs will most likely be advantageous to you because, all else being equal, will result in a greater chance of qualifying for a free transaction, or if not then will generally have a lower minimum TX fee required to have a good chance that most miners will quickly confirm your tx.

With NXT (the only PoS coin I am even vaguely familiar with), either having a lease on an account, or having an account with a larger amount of coins will increase the chances of you finding the next block with the relationship between the chance of finding the next block and the amount of coins you control being linear. I do not believe there to be any advantage of splitting up your coins (when discussing staking) when dealing with NXT, other then the fact that having your coins split up will make it easier to hide a potential attack on the network.

I believe there are other variations of PoS coins that cause them to act in a similar way that interest on bank accounts works, however I do not believe there is any advantage (when discussing staking) to having your coins split up in these variances.

DannyHamilton

legendary

Activity: 3472

Merit: 4794

Quote from: Enzyme on February 11, 2015, 09:39:28 PM

Hey Guys,

I tried 'splitting' my coins by sending a transaction to myself consisting of half my coin count.
I think I may have misunderstood how 'splitting' works.

Anyway, how do you gain the highest weight with the lowest amount of coins?

Thanks

I'm not sure what you are trying to do.

Why did you send half of your bitcoins to yourself?

Why are you trying to "split" your bitcoins?

What do you mean when you say "highest weight"? Bitcoins are electronic, they don't weigh anything.

Enzyme

sr. member

Activity: 420

Merit: 250

Hey Guys,

I tried 'splitting' my coins by sending a transaction to myself consisting of half my coin count.
I think I may have misunderstood how 'splitting' works.

Anyway, how do you gain the highest weight with the lowest amount of coins?

Thanks

Topic: [POS Coin] How does Staking work? (Read 685 times)