When should evidence the stake system is working kick in?
I really like the coin, but I'm confused on a few things:
Philosopherstone provides annual interest rate of 50%, for stakes that are not moved during the period. This [is] equivalent to 3.44% monthly interest. PoS blocks will be generated if the stake is held for more than 5-10 days.
Shouldn't that be
coins instead of
stakes?
PoS coins that are held in the wallet are called stakes. It's just a term and nothing to worry about.
- 50 confirmations for minted blocks
Shouldn't that be
mined?
A mined block generates freshly minted coins - different coins sometimes use different terminology, but it means the same thing.
- Maximum number of Philosopherstones to be generated is 2 billion
Wait, what?
Forgetting the technical stuff, the big questions are:
If I have coins in my wallet, from any source at all, and I don't move them, will I get 3.44% monthly interest automatically? Do I have to keep my wallet open and unlocked 24/7 to accumulate interest?Opening your wallet once every few days is enough, you don't need to leave it open. After a while you'll notice payments coming in to your wallet automatically.
Hope that helped clear a few things up
K.
Yes, thank you, it mostly does. Does it matter if the coins were solo mined, or mined in a pool and sent to me, so long?
FYI, I'm getting pretty poor returns at the phs.minar.cc pool. I noticed that I was getting more than twice as much PHS vs what I was getting at the pools with similar hash rates...but since things hadn't been 100% consistent, I decided to put my theory to the test: I have one machine solo-mining...and another identical machine mining at phs.minar.cc. Both are hovering right around 3 MH/s.
I do not believe I am getting what I should, no. It's mostly a hunch as I don't a direct reference point, but still I only get about 1/2 to 3/5 of what the estimate says on the stats page. The payouts are consistent, however, if there were a scryptmining.com pool, I'd be on it in a minute.
