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Quote from: bumface on February 05, 2014, 01:54:42 PM

Proof of Stake explanation

20% interest per year if you

3. have wallet online all year

Lol wut?

Ya have wallet online all year? You must be kidding!

Yes, you have, because that way you can an intermediary for transactions.

this is if you want pos rewards guys, if you dont then dont have it on all year Cheesy

Seems like alot to ask to have 100% dedicated uptime for a whole year. What about doing a Monthly PoS? I mean with restarts, updates, power outages and who knows what..A year is alot to ask the average person to keep a computer on.

Could we break it down to where you get PoS after x(720= a month,8640= a year roughly) amount of hours?

What happens to your PoS if you do have to restart the client?

Also would be nice to have a clearer explanation on the front page about this and whether or not you need to encrypt your wallet once you start it up or if a open un-encrypted wallet will recieve PoS.

Love the way the coins going bumface. Thanks to all for the hard work, giving us a new and exciting coin.

Monthly PoS rewards would come to approximately 1.666% It is still a matter of finding a block for the network, though. Nothing is a guarantee. So if you go down for a power outage or similar situation, it has a minimal effect on estimated annual interest.

This is helpful. So, to get 20% interest, your wallet needs to be available 100% of the year. If it isn't, your interest would be less. Is that right?

Yes, in theory. Just as I can estimate how much UTC my miner will get. It could be more or even less if you are unlucky. Good luck everyone! Grin