To do POS is it necessary to have the wallet online at all times?
Suppose you have 500000 mintcoin in your wallet, does the POS just happen automatically, or is there some setting necessary on the wallet?
Can the wallet be ecrypted?
I am really confused about the whole thing!
It is slightly confusing because it is such a new coin.
Here is the deal, you just need to unlock your wallet from time to time. You can encrypt it. As long as you don't move the coins, ie: send them for 20 days, they become eligible to accrue interest.
So, for example. I have two wallets. One is for savings, and one is for spending. This way I can put all the coins I want to save in a wallet on a very secure computer and not unlock the wallet, except for 10 minutes every few days to accrue the minted coins.