[PPC] How many PoS? | Bitcointalksearch.org

dreamwatcher

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Quote from: Sunny King on October 05, 2012, 09:13:57 AM

Quote from: dreamwatcher on October 05, 2012, 02:55:09 AM

Quote from: dust on October 05, 2012, 12:05:59 AM

Is it necessary to run a miner to create PoS blocks, or is just running the daemon sufficient?

AS for needing to leave the client on, I do not believe so, as the coins are recorded in the block chain. I am a bit fuzzy on that, though it was briefly explained to me a few weeks ago. I cannot remember why you did not have to leave the client running to produce POS.

Maybe somebody with a clearer mind will stop by and explain.

Running daemon is necessary to mint proof-of-stake blocks. Miner does not help generating stake.

Ahhh..ok.

I must of read something about it in the past. As my concern about POS (Before PPC was made public) was the same as the OP in this thread made today: https://bitcointalksearch.org/topic/ppcoin-offline-coinstake-creation-115608

I must of muddled it up with my knowledge (nowhere as much as I would like it to be...LOL) of PPC.

Sunny King

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Quote from: dreamwatcher on October 05, 2012, 02:55:09 AM

Quote from: dust on October 05, 2012, 12:05:59 AM

Is it necessary to run a miner to create PoS blocks, or is just running the daemon sufficient?

AS for needing to leave the client on, I do not believe so, as the coins are recorded in the block chain. I am a bit fuzzy on that, though it was briefly explained to me a few weeks ago. I cannot remember why you did not have to leave the client running to produce POS.

Maybe somebody with a clearer mind will stop by and explain.

Running daemon is necessary to mint proof-of-stake blocks. Miner does not help generating stake.

dreamwatcher

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Quote from: peepee on October 05, 2012, 12:11:59 AM

Quote from: dust on October 05, 2012, 12:05:59 AM

Is it necessary to run a miner to create PoS blocks, or is just running the daemon sufficient?

Also, does amount of hashing power have any effect on generating PoS blocks?

Quote from: dust on October 05, 2012, 12:05:59 AM

Is it necessary to run a miner to create PoS blocks, or is just running the daemon sufficient?

One does not need to mine in the conventional sense. Any coins you have under your control that are over 30 days unspent can produce a POS block.

Any POW mining you are doing is totally separate and has nothing to do with POS production with your eligible coins.

Some examples of the difference : POS difficultly is very low, under 100 in most cases. POS block have no nonce (or a 0 value nonce). When you generate a POS block, the coins that generated it get sent in a transaction much like a self stamped and addressed envelope.The client will take the coins and put them on the network with the destination the same as the sender.There will be a negative fee attached to the transaction, that is the POS reward once the 520 confirms have passed.

Its late, I am tired. I hope my babbling has helped you understand PPC a little better. Hell I would not even be up if my miner rig #3 had not decided to take some crazy pills or something Cheesy

AS for needing to leave the client on, I do not believe so, as the coins are recorded in the block chain. I am a bit fuzzy on that, though it was briefly explained to me a few weeks ago. I cannot remember why you did not have to leave the client running to produce POS.

Maybe somebody with a clearer mind will stop by and explain.

peepee

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Quote from: dust on October 05, 2012, 12:05:59 AM

Is it necessary to run a miner to create PoS blocks, or is just running the daemon sufficient?

Also, does amount of hashing power have any effect on generating PoS blocks?

dust

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Is it necessary to run a miner to create PoS blocks, or is just running the daemon sufficient?

Sunny King

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Quote from: peepee on October 04, 2012, 10:52:39 AM

So the coins that I generated through PoW will be used to generate PoS after maturity. Then PoS coins will go back into regular balance and then will be used to generate more PoS? So just by letting coins sit, it generates PoS coins, which generates more coins after they mature, and so on? Is this correct?

Yes.

peepee

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Quote from: Sunny King on October 04, 2012, 09:13:27 AM

There is no such thing as 'PoS coins' as you described, stake is just part of your balance that helped to generate block and secure the network. Once matured it would return to your balance.

Once the amount moved from balance to stake generating a block in the process, you cannot move it back yourself and must wait for its maturity (520 blocks) in order to use it again. It's all automatic you don't need to worry much about it. However if you need some balance to spend immediately, it would be prudent to use the reservebalance configuration to prevent all balance moving to stake and leaving you nothing to spend for a while.

So the coins that I generated through PoW will be used to generate PoS after maturity. Then PoS coins will go back into regular balance and then will be used to generate more PoS? So just by letting coins sit, it generates PoS coins, which generates more coins after they mature, and so on? Is this correct?

Sunny King

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Quote from: peepee on October 04, 2012, 08:40:23 AM

So can I safely assume that whatever value I have under "stake" right now is actually stake, and I should leave them there? How do you determine in the future, after maturity, the difference between PoS coins and PoW coins? Thanks for the response Andy.

There is no such thing as 'PoS coins' as you described, stake is just part of your balance that helped to generate block and secure the network. Once matured it would return to your balance.

Once the amount moved from balance to stake generating a block in the process, you cannot move it back yourself and must wait for its maturity (520 blocks) in order to use it again. It's all automatic you don't need to worry much about it. However if you need some balance to spend immediately, it would be prudent to use the reservebalance configuration to prevent all balance moving to stake and leaving you nothing to spend for a while.

peepee

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So can I safely assume that whatever value I have under "stake" right now is actually stake, and I should leave them there? How do you determine in the future, after maturity, the difference between PoS coins and PoW coins? Thanks for the response Andy.

AndyRossy

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Quote from: peepee on October 03, 2012, 06:53:29 PM

How many proof of stake coins are in existence? How do you check this?

So far there have been 812 PoS blocks. On average they have between 1 and 2 PPC's, so i'd estimate between 800 and 1600 coins have been issued via PoS so far.

Code:


ppc_db=# select count(*) from block_history where difficulty < 500;
 count 
-------
   812
(1 row)

ppc_db=# select max(id) from block_history;
 max  
------
 8349
(1 row)

peepee

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Also, is it possible to buy proof of staked coins?

peepee

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Quote from: smoothie on October 03, 2012, 08:05:40 PM

Sorry I read the question wrong.

Of course you did, as your only intent is to troll PPC around here, not to actually input useful information.

Great job getting first on my ignore list! That's something you obviously don't have problem with.

Roll Eyes

Anyways,

PPCers, is there any way to check how many proof of stake coins exist? Is it just best to never touch the coins for _____ how long?

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: ?? on ??

Quote from: smoothie on October 03, 2012, 07:09:19 PM

Over 10 million from what I've heard.

wrong. There should be less then 100k POS.

Sorry I read the question wrong.

Too much PEE PEE.

smoothie

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LEALANA Bitcoin Grim Reaper

Over 10 million from what I've heard.

peepee

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How many proof of stake coins are in existence? How do you check this?

Topic: [PPC] How many PoS? (Read 1266 times)