Quote from: strunberg on December 28, 2013, 06:51:44 AM

I'm working on a FAQ for pennies/cent.
Here's my progress so far.

---About Pennies---
How many pennies will be created?
How many coins have been created so far?

---About the client---
Where can I download the client?
https://github.com/RazorLove/pennies-qt
Click on download ZIP

What is saving interest on the Pennie's client?

---Stake---

What is stake?
The point of stake is to solidify the network from 51% attacks by keeping wallets online and synced constantly even if you aren't solo mining.

How long does it take for stake?
7 days.
But that only means your coin blocks are ELIGIBLE to PRODUCE a stake block... it still has to be accepted by the blockchain before it counts and the block can be orphaned forcing another attempt to be made at a later time. The existing issue is Pennies has a maximum tx amount and the insane stake multiplier makes any block of coins over a certain amount ineligible to be stake worthy because the transaction will be rejected by the blockchain when it sees it is over the maximum tx limit. This is fixed in version 10 of the Pennies client and goes into effect with the stake correction that takes place starting January 8th."

Do you need to have your client constantly "on" to receive the state?
Or could you set up yourself to receive stakes,not use the client for several months,and then return to find you have loads of stakes?

The client must be open and synced in order for the PoS blocks to attempt generation...

you can leave the client closed and then open and sync it just before your coindate reaches maturity for stake, and then it will be eligible to do so... but leaving it offline will NEVER generate stake ever. The point of stake is to solidify the network from 51% attacks by keeping wallets online and synced constantly even if you aren't solo mining.

What's this stake update about?
Exactly 7 days after this deadline (8th January 2014 at 00:00:00 GMT) the new Proof of Stake values will kick in and reduce stake by a factor of 10,000. This would mean a transaction of 100,000 would generate approximately 90 CENT on top of the original stake after the typical 9 days it takes for stakes to happen.

How much stake did I get before the update?
If you had 100 million Pennies, you would receive 1 billion Pennies.

How much stake do I get now?
100,000 would generate approximately 90 CENT

How do I get stake?
You just wait.
You just wait,and there's no need to enter anything in the Command Line Banking aspect of the client.

What if I sent pennies in units of more than 900 million to my wallet?
You can either send the pennies in units of 50 millon or less, to a different address in the same wallet, saving having to go through Cryptsy.

Or

You could send ALL of your Pennies to Cryptsy, THEN delete all of the pennies client data including that found in the roaming folder,reinstall the pennies client,and then transfer your pennies in units of 50million or less back to your pennies client.

Would you mind if I put this on centcon.org? Averaging 100 uniques a day. This faq would be a perfect addition.

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