Proof of Stake explanation
20% interest per year if you
3. have wallet online all year
20% interest per year if you
3. have wallet online all year
Lol wut?
Ya have wallet online all year? You must be kidding!
this is if you want pos rewards guys, if you dont then dont have it on all year
Just goes to show dev has no freaking idea how POS should be implemented...talk to CASH dev...try to get real
to be more exact, if you run an active node for a year with 0% downtime, you get 20%, otherwise you get less than that.
And from the wiki...you will lose 5% of your coins per year if you do not keep your wallets on...
"2) Some public keys may decide to become inactive. This is costly for them. They will suffer a loss of 5% of their balance per year for as long as they remain inactive."
From what I understand (may be wrong). If you look further down on that wiki page they name this 5% fee /tax.
"5) Other individuals may prefer the privacy associated with dropping out of participation. These individuals are still welcome to use the network, but must face a wealth tax of 5% per annum to compensate for the security risk created by their behavior."
I "assume" the fee from #2 and #5 are the same. I.E- wealth tax. Which led me to my question and dev response.
@ziggy909
Thank you very much for the clarification! Since I've not dealt with any alts (outside LTC), other than mostly perusing threads occasionally; I was unaware of this. Assume-ably this is, to some extent, known by many.
IF you could also, out of curiosity; what will be the wealth tax for inactive nodes / wallets per year? 5% ??
Thank you very much for the clarification! Since I've not dealt with any alts (outside LTC), other than mostly perusing threads occasionally; I was unaware of this. Assume-ably this is, to some extent, known by many.
IF you could also, out of curiosity; what will be the wealth tax for inactive nodes / wallets per year? 5% ??
there is no wealth tax, but the proof of stake bonus for active nodes will lead to a variable but small degree of inflation.
So, from what I understand, there is no deduction from inactive wallets. I may be wrong though