Re: [ANN][STEPS] Let's make a new altcoin environment

Here is something to help people get their heads around why STEPS is such a good investment now - rather than tomorrow.

The following figures were calculated based on the following:
- Starting supply of 100,000 coins.
- An average of 3 blocks per day will be found.
- On average each block reward last for 7 days.
- The total time for Dynamic POS from today is 5.5 Months or there abouts.
- The average price per steps is taken at a very conservative 1500 satoshi for the entire period.

Block reward   Approx stake    BTC value

70      1,470      0.02205

80      1,680      0.0252

90      1,890      0.02835

100      2,100      0.0315

110      2,310      0.03465

120      2,520      0.0378

130      2,730      0.04095

140      2,940      0.0441

150      3,150      0.04725

160      3,360      0.0504

170      3,570      0.05355

180      3,780      0.0567

190      3,990      0.05985

200      4,200      0.063

210      4,410      0.06615

220      4,620      0.0693

230      4,830      0.07245

240      5,040      0.0756

250      5,250      0.07875

260      5,460      0.0819

270      5,670      0.08505

280      5,880      0.0882

290      6,090      0.09135

300      6,300      0.0945

Total Steps staked if starting with 100,000 coins TODAY = ~93,240

Total value in bitcoin of those steps at 1500 sat = 1.3986 BTC

This is a LOW estimate - this is assuming the price doesn't improve and stays at 1500 sat for 5.5 months. This will obviously not be the case but take this as a worst case scenario. At worst, you will make 1.3986 BTC in 5.5 months of staking 100,000 STEPS. At best probably 10 times this figure If you waited until the end of DPOS before selling any of your stakings.

These figures also do not take account of compounding staking interest and the fact that your staked coins stake as well - typically your share of the blocks will increase over time the longer you hold, you may be up over 4 blocks or more per day in the later stages of DPOS.

I have provided this merely as an explanation for the confidence shown by myself and others in buying large amounts of this coin and holding it long term.

Good luck!

Ok so help me out. Can you explain how this works for us idiots? I have 5k ( i know its lame) steps. I have been staking (I think) for days and days. My staking number is always 0, it says my reward is coming in 9 days. Today I got 70 steps somehow. My staking number still says 0. I just don't know if I am doing this right...

Ok well thanks in advance.

There is no point staking with 5,000 STEPS - its sadly as simple as that. The network weight is such that you will get 1 block per week if you are lucky. You are better of just trading with any amount under 50,000.

OK so I agree with you, so pretend I said 50k then. I am just trying to understand. Does the staking happen automatically if I had more etc... I may invest more but I just need some help understanding please.

Yes It does. You leave your wallet open, unlocked BUT still encrypted and it will try to stake. The estimated time until next stake should only be used as a gauge of how many you can expect in a 24 hour period. For instance, with my 100,000 I 'estimate' 7-9 hours all the time (which fits into 24 hours a day roughly 3 times = 3 blocks) but on occasion I will find 2 in the space of an hour.

If you bought 50,000 STEPS you would receive a little under half on my calculations. If you bought 200,000 you would receive more than double what I am receiving with 100,000. Your chance of finding more blocks increases with the number you hold and I have observed increasing returns with myself at 100,000 and other wallets around 200,000.

You can see therefore why there is no better time to buy STEPS than today - for the basic principle that as a project/company etc goes on, typically their value will increase - not all the time, but provided the devs are serious (which they are) and are intent on adding value to the coin it WILL go up in value and the sooner you buy the more coins you will end up with.

Good luck to those who leave it another month - There will be even fewer coins on the Sell Book and you will be extremely lucky to get your hands on any under 5,000 satoshi.