Re: [ANN] BitcoinDark (BTCD)--Sha-256/PoW-PoS hybrid/Bounty Opportunities

I do own some BTCD, Am I then one of the stakeholders? I am still fuzzy on the details.

Jim

As long as you keep the wallet open and unlock to stake then you are one of the stakeholders. The point is to keep the network as secure as possible and only people staking can make that happen. Along with gaining more BTCD, the dividend is pretty much an incentive since so much of SuperNET will be riding on BTCD. There is also mention of checking how long each user stakes to determine fairness of dividend so that opening the wallet once a month for a few hours doesn't gain the same benefit as someone that always keeps theirs' open. Basically, you are rewarded twice over for keeping the wallet open and staking.

NICE... However it says the dividends will be paid to an associated nxt addy? how does that work.

you pick a public BTCD address to use. It doesnt have to have much BTCD in it. The software will automatically map this address to a NXT address (using its privkey), then it will make a NXT alias so that you can use the same public BTCD address even inside NXT

James

James, Thank you much for answering.

My only question left is:
How do I 'pick a public BTCD address to use'? And I assume I want to use the addy that holds all my btcd.

unless you want to impress girls, the public address should probably have a minimal amount of btcd.
now you can still impress the girls by showing your big acct in private

edit: just make a new address and it is your public address, or you can just use the address you have already been using. I am just nervous to publish accts with any big amounts in them

Ok, now I am confused, How does it know I am staking X amount of coins if the addy I publish is empty?

edit:

Example:

1. John has 1200 BTCD in a personal wallet and the wallet is currently staking at approx 5% year.
2. John wants to publish his addy so he can receive the extra income from superNet to btcd stakeholders.

Question1. HOW does he publish his address?
Question2. How does the program know he is staking 1200 coins if the address he publishes is a new one?

Jim

sorry for all the questions, trying to understand what is going on. I cannot find documentation other then the white paper and infomationsl PDF on superNet site.

all staking is visible on the blockchain. doesnt matter who controls the address for the staking based rewards as the dividend will be sent to the staking address (assuming it is bigger than some minimum level)

I understand how simple staking works, my wallet is getting paid normally.

Lets start over:

according to this document: http://www.weebly.com/uploads/3/8/5/6/38564127/supernet.pdf

Code:

Revenues received from the services detailed above and any others added by participating
cryptocurrencies will be distributed in the following proportions:
 5 percent for BTCD stakers, via an associated NXT address

Please explain how the BTCD stakers will get paid?

James said I just publish a BTCD addy that does not have coins in it.. How then does the payment system know how much to pay me.. do I also associate the empty btcd addy with the one staking? How is this done.. Huh