Re: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake

I have a few noob questions.
I have my clams in my wallet, they are staking but even though I have quite a few, it is only expected to stake every 49710 days! how can that be?
I moved them to my wallet on Saturday, but the age hasn't increased. They are still staking at 1 per CLAM, does the age only increase when I have the client open? Can they only stake when it is open?
Does it matter that I use 1.4.3.0? The new ones want to re-index, so I am not in a hurry to update!

I'm pretty sure that in all of the POS coins you can only stake when your wallet is open. If you're not connected, you're not in the race. I'm not an expert (and many others in this thread actually are experts) but if I understand correctly, POS is a lot like POW in that you are racing against others to find a hash that fulfills certain criteria.

Actually most POS coins have age and you can't rewards based on the age. Clam has a system where there is no age. So only the people that are online more and secure the network get more rewards.
So to reiterate, clams doesn't have age.

Right, this is the "proof of working stake" thing. I had forgotten bout this when trying to answer bitcoiner2015's question. Clam is not really POS or POW but a hybrid.

That's a really interesting way to put it. Proof of working stake sounds nice. But I wouldn't call it a hybrid POS or POW. It is still very POS like but they just changed how it works. Actually I think it can still be classified as POS because its based purely on the coins you control. Also there's not really any POW being done (yes there's hashing but it's not used as proof).

So to effectively stake I should invest my CLAMs at Just-Dice? Is there any real downside to that?
I had thought they would constantly stake, but I only have my computer on for a few hours a day, so guess it isn't going to be worth it in the clam wallet.
I updated to the new wallet and now it says I should stake in 1 day! A big difference!

As with any service, there is certain amount of counter-party risk associated with keeping your coins with a third-party. dooglus and Just-Dice happen to have a reputation for being extremely trustworthy - minimizing this risk. In addition, at Just-Dice you are exposed to the potential of investor gains/loses. Finally, Just-Dice takes a 10% fee/cut of staked rewards. This fee is likely reduced (possibly entirely) by the fact that dooglus dominates the staking environment, orphaning other users who attempt to compete.

Quote from: almightyruler on June 29, 2015, 11:49:56 PM

If you're handy with Linux or happy to learn, setting up clamd on a Raspberry Pi (or similar low power, low cost ARM based computer) may be an option to permit 24/7/365 staking. Only downside is that because RAM is limited, you'll probably only be able to run one or two coins on it. I gave up trying to run both CLAM and ORB; the computer was constantly swapping to and from the memory card (ouch).
I've currently dedicated an Odroid C1 (USD$35, quad core ARM @1.5GHz) to CLAM, but I've just realised that I could even run the daemon on my Pi based security cam... a security camera that generates coins! Cheesy

Now THAT, is an interesting proposition

Anyone want to beat 21 Inc. to market with crypto producing consumer goods? Cheesy