Post
Topic
Board Announcements (Altcoins)
Re: [ANN] RootCoin [ROOT] - rootEX™ announced - ANON-tx using BitKey™- PoW/PoS/PoI
by
bitsta
on 07/09/2014, 11:06:30 UTC
I think I screwed up the staking by trying to tidy up my coins, I moved my smaller amounts of coins to one single address hoping it would fix the dust issue but I guess even though it's the same wallet it looks to the system that I moved my oldest coins to a new address and thus they are no longer 'aged' (although I shouldn't have been able to move coins that were being staked??) I really don't understand this whole PoS thing.

I have to see it seems like there is useful information missing from the wallet, Like I can only see how much money each address has if I got to the advance send page. and Nothing mentions the age or maturity of a coin or collection of coins. I expect this is something that can be seen from the block explorer? Although I haven't figure out how yet.. and err information is getting a bit spread out now, maybe a wiki would be useful, I'm sure I read that coins start to age at 4 hours, what is their maximum age? (and if someone could convert that to like, so 1 day old coins earn 1%, 30 day old coins earn 3% type terminology that'd be really handy.

Finally Bitsta I know feature requests maybe be a bit late at this point, you've already hardforked once, (personally I thing 5% would be a better PoS rewards but I'll live, but I'd like to suggest as a further incentive to hoard, that you include some kind of lottery, kinda like premium bonds in the UK if you're familiar with that) I'm not quite sure how you'd accomplish it, I know lottocoin used a random block reward for mining, I don't know if you can use the same thing for minting, because I assume that a single person doesn't find a "block" in the same sense with PoS. But some system where you earn your 3% but also ever time you mint a coin you have a random chance of minting anywhere from 10 - 10,000 root and obviously the more you're staking the more virtual tickets you have.

I'm not sure how it would eventually be funded but I assume at least for now with cutting of PoW early, that your numbers are now short of the 3 mil mark anyway.

hey geekeh,

you coins will age very fast. so you should be staking again in 2-3 hours.
i like your lottery idea and will discuss it in the team.
if you have any other questions or recommendations just join IRC
and drop me a line there.

cheers!
bitsta