Noob question here how does the POS minting actually work anyway??
http://forum.zeit-coin.com/viewtopic.php?f=10&t=36
Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 416. (Read 1009349 times)
April 23, 2014, 07:22:52 AM
http://forum.zeit-coin.com/viewtopic.php?f=10&t=36
April 23, 2014, 07:20:57 AM
Noob question here how does the POS minting actually work anyway??
April 23, 2014, 07:15:44 AM
light-wallet alike multibit is essential....
Not on a POS coin. It's essential to NOT have one.
April 23, 2014, 03:01:38 AM
Zeitcoin Multipool http://zeitpool.zeit-coin.com/
April 23, 2014, 02:29:57 AM
It`s very difficult to break the walls from 6 sat to 17 sat.The only way to break them is the price goes up
April 23, 2014, 01:58:09 AM
light-wallet alike multibit is essential....
April 22, 2014, 08:54:00 PM
How do you get these numbers? Your math/logic makes no sense to me.
The raw data came from my own minting experiences with each coin, these I averaged. Rather than trying to go through my maths in a dialog box I will reproduce the spreadsheet and post it to google docs.
+1
are you Norbert Wiener?
lol Not quite a cybernetics guru, just a PoS freak.
Good enuff 4 me, dude
April 22, 2014, 07:57:58 PM
How do you get these numbers? Your math/logic makes no sense to me.
The raw data came from my own minting experiences with each coin, these I averaged. Rather than trying to go through my maths in a dialog box I will reproduce the spreadsheet and post it to google docs.
+1
are you Norbert Wiener?
lol Not quite a cybernetics guru, just a PoS freak.
April 22, 2014, 07:52:36 PM
How do you get these numbers? Your math/logic makes no sense to me.
The raw data came from my own minting experiences with each coin, these I averaged. Rather than trying to go through my maths in a dialog box I will reproduce the spreadsheet and post it to google docs.
+1
are you Norbert Wiener?
April 22, 2014, 07:42:34 PM
How do you get these numbers? Your math/logic makes no sense to me.
The raw data came from my own minting experiences with each coin, these I averaged. Rather than trying to go through my maths in a dialog box I will reproduce the spreadsheet and post it to google docs.
April 22, 2014, 06:47:25 PM
Ran some more numbers. I know everyone cares. 
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
this is confusing as f---....... yield/day/satoshi? can we market this somehow? zeitcoin is falling into the crowd of 100 blackcoin clones and unfortunately zeit looks the same at first glance
If you think of it in bond terms it's all about paying the least to get the highest rate of return. Yield per day per satoshi is just an attempt to reduce all the PoS coins to the lowest common denominator to make comparing them simple. Here's a few compared using this metric:
Zeitcoin: 0.01371652%
HoboNickels: 0.00000955%
PhilosopherStone: 0.00001181%
Battlecoin: 0.00016447%
The fact that all of these coins pay more annually than Zeitcoin is irrelevant because their costs are so much higher. For the cost of just one of the next closest(Battlecoin) you can purchase 163 Zeitcoin which will pay many times more.
How do you get these numbers? Your math/logic makes no sense to me.
April 22, 2014, 06:12:59 PM
Ran some more numbers. I know everyone cares.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
this is confusing as f---....... yield/day/satoshi? can we market this somehow? zeitcoin is falling into the crowd of 100 blackcoin clones and unfortunately zeit looks the same at first glance
If you think of it in bond terms it's all about paying the least to get the highest rate of return. Yield per day per satoshi is just an attempt to reduce all the PoS coins to the lowest common denominator to make comparing them simple. Here's a few compared using this metric:
Zeitcoin: 0.01371652%
HoboNickels: 0.00000955%
PhilosopherStone: 0.00001181%
Battlecoin: 0.00016447%
The fact that all of these coins pay more annually than Zeitcoin is irrelevant because their costs are so much higher. For the cost of just one of the next closest(Battlecoin) you can purchase 163 Zeitcoin which will pay many times more.
April 22, 2014, 05:48:11 PM
Dude, smallest I've had so far is 2.516438
Beat that!
0.54315
OK, here's a 'cigar'
April 22, 2014, 04:44:51 PM
Dude, smallest I've had so far is 2.516438
Beat that!
0.54315
April 22, 2014, 04:42:23 PM
Just checking around to ensure all the pools I used were cleared out.
People are STILL mining on MoreCoins and it STILL never broke that block from 7th March. Stunning!
As an aside.
Really pleased to see PoW being ended (not read whether checkpoints will be used in the 'official' wallet) and adding coin control is brilliant, will certainly make the coin more usable rather than that annoying FIFO
People are STILL mining on MoreCoins and it STILL never broke that block from 7th March. Stunning!
As an aside.
Really pleased to see PoW being ended (not read whether checkpoints will be used in the 'official' wallet) and adding coin control is brilliant, will certainly make the coin more usable rather than that annoying FIFO
April 22, 2014, 04:28:21 PM
Ran some more numbers. I know everyone cares.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
I like the way you work the numbers, dude.
- just a shame so many morons are treating it like a PoW coin
The song remains the same though ...
BUY THEM WHILE YOU CAN, KEEP THEM IN YOUR WALLET!
April 22, 2014, 03:37:45 PM
REALLY happy right now - nearly 210,000 minted in the last hour with another 138,000 more due before bedtime.
*Lion dances round room*
Oh yeah? Well, I just minted 300!
No, not 300K. Just 300.
Dude, smallest I've had so far is 2.516438
Beat that!
For anyone who has read the 'coin control' article on the HoboNickel Wiki & wondered what 'magic number' is for US,
My best 'estimate' of the biggest sized block that should be made for Zeit is
5,128,220
Because the 69K mintings today are from transactions that were originally 10 Million but it 'splits' them into ^ for 'Stake' purposes.
I've minted over 420,000 so far today (my 2nd biggest minting day of the Zeit-Month) with a few more to come.
... and that's my 2nd minting from those deposits
BOLLOX to the faint-hearts selling cheap AND the morons with billions in the sell-walls!
WE will be laffin' our bellies sore this time next year
April 22, 2014, 03:24:44 PM
REALLY happy right now - nearly 210,000 minted in the last hour with another 138,000 more due before bedtime.
*Lion dances round room*
Oh yeah? Well, I just minted 300!
No, not 300K. Just 300.
April 22, 2014, 03:10:11 PM
I had a load of small transactions from a pool it was 5000 every few hours and the wallet seems to be working through them 1 at a time for minting
is that how it works coz nothing has minted for 2 days and I have about 10 transactions over 20 days old now or will it group these transactions together and mint the total of the qualifying coins
is that how it works coz nothing has minted for 2 days and I have about 10 transactions over 20 days old now or will it group these transactions together and mint the total of the qualifying coins
April 22, 2014, 02:09:47 PM
Ran some more numbers. I know everyone cares.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.
I like the way you work the numbers, dude.
- just a shame so many morons are treating it like a PoW coin
The song remains the same though ...
BUY THEM WHILE YOU CAN, KEEP THEM IN YOUR WALLET!
Thanks. The fact that it's not being mined means the supply is tightening daily and all the coins sitting on exchanges are also not adding to the money supply. Dumping at these prices seems like a very bad idea.
REALLY happy right now - nearly 210,000 minted in the last hour with another 138,000 more due before bedtime.
*Lion dances round room*
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