Silkcoin - *self-moderated* - Discussion thread about the Silkcoin eco-system - page 3.

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Quote from: bluepixie on June 22, 2014, 08:41:24 PM

Quote from: WhiteNotWright on June 22, 2014, 07:28:25 PM

Quote from: bluepixie on June 22, 2014, 07:15:16 PM

Quote from: criptix on June 22, 2014, 06:30:53 PM

Quote from: WhiteNotWright on June 22, 2014, 04:23:50 PM

I have a feeling my wallet questions and quotes and responses are getting certain responses and replies to question off course.

I shall conclude this series in the topic of staking --and only request the DEV(s) in their spare time, provide a link to the FAQ.

Much appreciate your responses. I have an investment club I speak with on occasion. I would like to present them something, but will not do it looking like an idiot, which at this point, I am a little less of an idiot in my investment (obviously investing in something I know little about). I am never rude, however...

nothing to be ashamed of, everyone started as a newbie

but kalisto has a point, you/everyone really should inform yourself before investing Wink

especially when you wanna invest in altcoins

Asking questions is how you learn. This is a perfect place to ask questions. My suggestion to evryone is READ READ READ
I started mining and investing in altcoins in DEC and I had to figure it all out on my own. Since then I have built 3 mining RIGs and I love it. But a guy has to start somewhere. Silkcoin is a good place to start. IMHO

Just to be clear, I have been investing in bitcoin before the bubble and litecoin since the first of January, so I am not too new, but not too versed in some of the 200+ copy cat alt coins that exist today. I have made a lot of money trading cinni pumps, black pumps and drk pumps. Lost a little on white coin, so I am pretty well versed in how things work trading to make profit. I do a risks analysis in everything I do, so trust me when I say I ensure at the end of the day, I bring it home. I don't understand the mining that well PoW or PoS, but have been reading up and continue to scan the market for trends. Unfortunately, from a pure merchant perspective, it would appear bitcoin and litecoin are still sitting center-stage. Can't wait to play with the eco-system beta to learn more. Thanks for all the answers, it does give me additional perspectives of the facts.

Sounds like we are the ones that should be asking the question. Shocked

Investment club sounds pretty cool. This sounds very interesting.

Just a bunch of fellows looking to move money from some stocks into crypto as there are more immediate returns.

bluepixie

full member

Activity: 178

Merit: 100

Quote from: WhiteNotWright on June 22, 2014, 07:28:25 PM

Quote from: bluepixie on June 22, 2014, 07:15:16 PM

Quote from: criptix on June 22, 2014, 06:30:53 PM

Quote from: WhiteNotWright on June 22, 2014, 04:23:50 PM

I have a feeling my wallet questions and quotes and responses are getting certain responses and replies to question off course.

I shall conclude this series in the topic of staking --and only request the DEV(s) in their spare time, provide a link to the FAQ.

Much appreciate your responses. I have an investment club I speak with on occasion. I would like to present them something, but will not do it looking like an idiot, which at this point, I am a little less of an idiot in my investment (obviously investing in something I know little about). I am never rude, however...

nothing to be ashamed of, everyone started as a newbie

but kalisto has a point, you/everyone really should inform yourself before investing Wink

especially when you wanna invest in altcoins

Asking questions is how you learn. This is a perfect place to ask questions. My suggestion to evryone is READ READ READ
I started mining and investing in altcoins in DEC and I had to figure it all out on my own. Since then I have built 3 mining RIGs and I love it. But a guy has to start somewhere. Silkcoin is a good place to start. IMHO

Just to be clear, I have been investing in bitcoin before the bubble and litecoin since the first of January, so I am not too new, but not too versed in some of the 200+ copy cat alt coins that exist today. I have made a lot of money trading cinni pumps, black pumps and drk pumps. Lost a little on white coin, so I am pretty well versed in how things work trading to make profit. I do a risks analysis in everything I do, so trust me when I say I ensure at the end of the day, I bring it home. I don't understand the mining that well PoW or PoS, but have been reading up and continue to scan the market for trends. Unfortunately, from a pure merchant perspective, it would appear bitcoin and litecoin are still sitting center-stage. Can't wait to play with the eco-system beta to learn more. Thanks for all the answers, it does give me additional perspectives of the facts.

Sounds like we are the ones that should be asking the question. Shocked

Investment club sounds pretty cool. This sounds very interesting.

judgecrypto

full member

Activity: 238

Merit: 100

Quote from: h0lybyte on June 22, 2014, 07:40:56 PM

Is there any business plan and for the devs, how long would it take for them to build an API (similar to ReddAPI and DogeAPI?)!

Thanks Cheesy

I can offer services:

- Faucets
- Dice/Gambling
- Escrow

and various others for you silkcoin! Let me know if you have any interest.

I forwarded your message to the devs

h0lybyte

hero member

Activity: 924

Merit: 511

Is there any business plan and for the devs, how long would it take for them to build an API (similar to ReddAPI and DogeAPI?)!

Thanks Cheesy

I can offer services:

- Faucets
- Dice/Gambling
- Escrow

and various others for you silkcoin! Let me know if you have any interest.

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Silkcoined @Silkcoined · Jun 21
Update -Going Offline here Soon-

bu-Bye

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Quote from: bluepixie on June 22, 2014, 07:15:16 PM

Quote from: criptix on June 22, 2014, 06:30:53 PM

Quote from: WhiteNotWright on June 22, 2014, 04:23:50 PM

I have a feeling my wallet questions and quotes and responses are getting certain responses and replies to question off course.

I shall conclude this series in the topic of staking --and only request the DEV(s) in their spare time, provide a link to the FAQ.

Much appreciate your responses. I have an investment club I speak with on occasion. I would like to present them something, but will not do it looking like an idiot, which at this point, I am a little less of an idiot in my investment (obviously investing in something I know little about). I am never rude, however...

nothing to be ashamed of, everyone started as a newbie

but kalisto has a point, you/everyone really should inform yourself before investing Wink

especially when you wanna invest in altcoins

Asking questions is how you learn. This is a perfect place to ask questions. My suggestion to evryone is READ READ READ
I started mining and investing in altcoins in DEC and I had to figure it all out on my own. Since then I have built 3 mining RIGs and I love it. But a guy has to start somewhere. Silkcoin is a good place to start. IMHO

Just to be clear, I have been investing in bitcoin before the bubble and litecoin since the first of January, so I am not too new, but not too versed in some of the 200+ copy cat alt coins that exist today. I have made a lot of money trading cinni pumps, black pumps and drk pumps. Lost a little on white coin, so I am pretty well versed in how things work trading to make profit. I do a risks analysis in everything I do, so trust me when I say I ensure at the end of the day, I bring it home. I don't understand the mining that well PoW or PoS, but have been reading up and continue to scan the market for trends. Unfortunately, from a pure merchant perspective, it would appear bitcoin and litecoin are still sitting center-stage. Can't wait to play with the eco-system beta to learn more. Thanks for all the answers, it does give me additional perspectives of the facts.

bluepixie

full member

Activity: 178

Merit: 100

Quote from: criptix on June 22, 2014, 06:30:53 PM

Quote from: WhiteNotWright on June 22, 2014, 04:23:50 PM

I have a feeling my wallet questions and quotes and responses are getting certain responses and replies to question off course.

I shall conclude this series in the topic of staking --and only request the DEV(s) in their spare time, provide a link to the FAQ.

Much appreciate your responses. I have an investment club I speak with on occasion. I would like to present them something, but will not do it looking like an idiot, which at this point, I am a little less of an idiot in my investment (obviously investing in something I know little about). I am never rude, however...

nothing to be ashamed of, everyone started as a newbie

but kalisto has a point, you/everyone really should inform yourself before investing Wink

especially when you wanna invest in altcoins

Asking questions is how you learn. This is a perfect place to ask questions. My suggestion to evryone is READ READ READ
I started mining and investing in altcoins in DEC and I had to figure it all out on my own. Since then I have built 3 mining RIGs and I love it. But a guy has to start somewhere. Silkcoin is a good place to start. IMHO

criptix

legendary

Activity: 2464

Merit: 1145

Quote from: WhiteNotWright on June 22, 2014, 04:23:50 PM

I have a feeling my wallet questions and quotes and responses are getting certain responses and replies to question off course.

I shall conclude this series in the topic of staking --and only request the DEV(s) in their spare time, provide a link to the FAQ.

Much appreciate your responses. I have an investment club I speak with on occasion. I would like to present them something, but will not do it looking like an idiot, which at this point, I am a little less of an idiot in my investment (obviously investing in something I know little about). I am never rude, however...

nothing to be ashamed of, everyone started as a newbie

but kalisto has a point, you/everyone really should inform yourself before investing Wink

especially when you wanna invest in altcoins

daywalkerneo

full member

Activity: 224

Merit: 100

http://qoinpro.com/cc9596f66d20add189728cb834d59b8

silkcoin is a failed coin.

Jacqul

sr. member

Activity: 280

Merit: 250

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

I have a feeling my wallet questions and quotes and responses are getting certain responses and replies to question off course.

I shall conclude this series in the topic of staking --and only request the DEV(s) in their spare time, provide a link to the FAQ.

Much appreciate your responses. I have an investment club I speak with on occasion. I would like to present them something, but will not do it looking like an idiot, which at this point, I am a little less of an idiot in my investment (obviously investing in something I know little about). I am never rude, however...

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Quote from: kalisto on June 22, 2014, 04:11:29 PM

Quote from: WhiteNotWright on June 22, 2014, 04:08:38 PM

Quote from: ?? on ??

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Ofcourse your pc/wallet is mining but not in the traditional way of PoW. PoS is a green solution that doesnt cost extra power but the blochcain has to keep going so new blocks are mined by using your stake. How else can the blockchain live on if there are no new blocks mined. Wink

OK, so I am basically the guy that does a site survey before people come out with their bulldozers and start tearing up the place. Got it.

Everything depends on what you have in your wallet. The rule is you get 2% of your coins, it doesnt matter if you have 10 coins or 1 million

I am keeping some in the wallet and some on the exchange, but 2% on 100K is a lot more than 2% on 10K so I can see that. Having the coins in the wallet also prevent you from having to panic sell, so that should be good for the weak hands.

BadAss.Sx

legendary

Activity: 1526

Merit: 1002

Bulletproof VPS/VPN/Email @ BadAss.Sx

Quote from: ?? on ??

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Ofcourse your pc/wallet is mining but not in the traditional way of PoW. PoS is a green solution that doesnt cost extra power but the blockcain has to keep going so new blocks are mined by using your stake. How else can the blockchain live on if there are no new blocks mined. Wink

It really hurts me you all invested in a coin but you dont know exactly in what you invested.

Dude, i am just replying to WhiteNotWright lol. Hmm i see whats the problem...it has to be cpu instead of pc. So it has to be:

I can assure you that your cpu is not mining. My imac is not using more power then normal the last few days.

kalisto

sr. member

Activity: 245

Merit: 250

Quote from: WhiteNotWright on June 22, 2014, 04:08:38 PM

Quote from: ?? on ??

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Ofcourse your pc/wallet is mining but not in the traditional way of PoW. PoS is a green solution that doesnt cost extra power but the blochcain has to keep going so new blocks are mined by using your stake. How else can the blockchain live on if there are no new blocks mined. Wink

OK, so I am basically the guy that does a site survey before people come out with their bulldozers and start tearing up the place. Got it.

Everything depends on what you have in your wallet. The rule is you get 2% of your coins, it doesnt matter if you have 10 coins or 1 million

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Quote from: ?? on ??

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Ofcourse your pc/wallet is mining but not in the traditional way of PoW. PoS is a green solution that doesnt cost extra power but the blockcain has to keep going so new blocks are mined by using your stake. How else can the blockchain live on if there are no new blocks mined. Wink

It really hurts me you all invested in a coin but you dont know exactly in what you invested.

Quote from: ?? on ??

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Ofcourse your pc/wallet is mining but not in the traditional way of PoW. PoS is a green solution that doesnt cost extra power but the blockcain has to keep going so new blocks are mined by using your stake. How else can the blockchain live on if there are no new blocks mined. Wink

It really hurts me you all invested in a coin but you dont know exactly in what you invested.

I didn't see your last comment. Thanks for your sympathy. I can assure you there are greater forces at work here and do appreciate your explanations!

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Quote from: ?? on ??

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Ofcourse your pc/wallet is mining but not in the traditional way of PoW. PoS is a green solution that doesnt cost extra power but the blochcain has to keep going so new blocks are mined by using your stake. How else can the blockchain live on if there are no new blocks mined. Wink

OK, so I am basically the guy that does a site survey before people come out with their bulldozers and start tearing up the place. Got it.

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

Quote from: BadAss.Sx on June 22, 2014, 04:02:52 PM

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

Yeah, it never seemed like the fans where kicking on or anything, so just me being silly.

BadAss.Sx

legendary

Activity: 1526

Merit: 1002

Bulletproof VPS/VPN/Email @ BadAss.Sx

I can assure you that your pc is not mining. My imac is not using more power then normal the last few days.

kalisto

sr. member

Activity: 245

Merit: 250

Quote from: WhiteNotWright on June 22, 2014, 03:33:12 PM

It indicates "mined\staked" on the transaction in the wallet. Is the Wallet actually mining the coin, or just staking the block for which the coin was already mined? I have no clue about how mining really works other than ya get yourself a GPU rig, set up your cgminer, join a pool and hope for the best --ducking your head from the ASIC's. I just don't want my desktop mining coins lol. Man I feel like such a noob lol - but I am sure the wallet does not have a built in miner, I mean that would be to difficult, right?

Mining goes in case of PoS by the network weight you deliver when your wallet is online and unlocked for staking. So basicly the wallet is the miner indeed and your total coins reflect your power on the network. You can compare it with solo mining because this is basicly what PoS does. The more weight (coin balance) you deliver to the network the more blocks you will find. Compare this with hashrate, the more hashrate you deliver with PoW the more change you have finding a block (in case of solo mining). PoS is a green solution because it doesnt cost you extra electricity or cpu power.

Also when you see mined/staked coins in your transaction list the coin is already mined but need to mature 360 blocks before its spendable (try hovering the clock icon next to the transcation to see how far it is). This is build in for security so you cannot spend the coins directly. Ever heard of orphan blocks? By the time the mined coins are mature the network also knows for 100% those coins are real and no double spend is possible.

judgecrypto

full member

Activity: 238

Merit: 100

Quote from: WhiteNotWright on June 22, 2014, 03:33:12 PM

Quote from: kalisto on June 22, 2014, 03:22:00 PM

Quote from: WhiteNotWright on June 22, 2014, 02:59:15 PM

OK, so sorry to respond to all the answers on the PoS question. I think I understand now:

1) Wallet encrypted and open, stake your coins at 2% compounded yearly (not really a great return if you ask me)
2) No stake on exchange (although possible, could keep you from withdraw of your coins if stuck in stake --same could happen on local wallet)
3) Helps strengthen the network (whatever that means)
4) Earn more coins trading (maybe lose more as well) --so stake to keep market stable
5) Wallet is awesome place to store coins on local desktop, much safer than exchange (unless you visit porn sites)
6) Buying more coins helps the community while selling more coins hurts the community.

That about sums up the FAQ?

Yup mostly. Some extra info below:

1). The 2% is a good thing imo, if you have a high interest this means more coins are generated and more coins offered on the market means lower value.
2). A few months ago there was a exchange that did this, the exchange got bugged because of the balance system the PoS caused and people started exploiting it. The exchange is not here anymore and a lot of people lost money on that incident so security wise its absolutly a no go.
3). The bitcoin network gets its strength through Asics etc that deliver PoW. The more miners connected the more decentralised and secure the network is (pools are not good for a decentralised network btw but it makes finding blocks easier). The same is for PoS. Ever heard of a 51% attack? The same can happen on a PoS network so its important the network is getting protected by as many as possible online wallets with a proper ammount of coins.
4) Earn more real life value by keeping coins of exchanges so the scarcity on exchanges is bigger (supply and demand)
5) Dont forget to backup your wallet.dat Wink

6) True

OK - wallet is back up to the cloud -check and the thing on the PoS and 51% same deal - good info - supply and demand - makes sense.

I think the Camel is really a great brand identifier as well (Judge). One more thought (question) on the Wallet staking.

It indicates "mined\staked" on the transaction in the wallet. Is the Wallet actually mining the coin, or just staking the block for which the coin was already mined? I have no clue about how mining really works other than ya get yourself a GPU rig, set up your cgminer, join a pool and hope for the best --ducking your head from the ASIC's. I just don't want my desktop mining coins lol. Man I feel like such a noob lol - but I am sure the wallet does not have a built in miner, I mean that would be to difficult, right?

I don't know exactly what it is doing in stake mode. I did run a kill a watt power meter and I could not see any increased power draw in stake mode like when I mined regular coins. If anyone has a good article on staking please share!

Topic: Silkcoin - *self-moderated* - Discussion thread about the Silkcoin eco-system - page 3. (Read 12343 times)

Topic: Silkcoin - self-moderated - Discussion thread about the Silkcoin eco-system - page 3. (Read 12343 times)