I've bought some slim coins and I'd like to try and do some proof-of-burn, can someone give me a brief overview of how to do this?
thanks
Open the wallet, stay on the line, waiting.
That's proof of stake, there should be a "burn coins" tab, can't access the wallet atm to confirm, but should be something like that. Just choose amount to burn, and click the burn button.
If you have more than 20 burned, you'll probably occasionally gain 0.1 coins or so from it like I do.
It's not worth it unless you've bought a decent amount.
Thanks! I bought 2K worth from bter, and that's one of my main questions. How many should I burn to have a chance, and how often do i have to burn to keep the process going? I assume after a while you burn through all your coins and stop proof-of-burning.
Also, is it possible to use 'setgenerate true = -1' in the qt client and still get coins from POW?
Sorry for the newbie questions, but I was reading this thread for a while and couldn't find a simple quick start post.
2K is the approximate amount I have burned so far.
If you burn 2K SLM you can globally expect 1-2 block / day with the actual total amount of burnt coin but it is subject to variation.
The size of the block as I know depends of the amount of burnt coins, so far it is around 17 coins
If you want to maintain your chance at the same level you have to keep the percentage of your burnt coin constant regarding the total amount of burnt coins.
Your wallet needs to be open for burning, (wallet online and unlocked)
(You can access to the total amount of burnt coins and your burnt coins you by the command: getburndada)