Can someone please answer my questions? I would really appreciate it. I have mined other coins before but POS is new to me.
Once I get the coins in my wallet do I need to do anything special to get the stake thing going? It says stake miner suspended due to locked wallet. How do I get around this.
Do I understand correctly that all the coins ever will be made this week and then no more will be made? Will pools end after that since it will be pointless, and all mining will stop and everything will be done on the wallet?
Thank you to whoever answers.
Given I don't believe we've seen a definitive answer from either the dev or someone who can understand the source, I guess we will have to just wait and see at this point. My interpretation is that you get a chance depending on the size of the bag you hold every 8 hours to obtain 1% interest. Whether that's 1% proportionate to the original bag, or 1% compound I'm not sure. And whether you get your potential interest chance once in a blue moon or nearly every 8 hours, I'm not sure either. It really would be nice to have some facts here.
It works like this. You have to leave your wallet open and unlocked. The network will then stake the coins you have in your wallet that are at maturity which is 8 hours for this coin. There is no max age so that means once they mature they can post stake and never lose viability until they post stake or are traded. If the coin changes hands or your wallet posts stake then it has to wait another 8 hours to gain viability to post stake again. The random choice is based on the size of the bag of mature coins that you hold. So while the network may have 100 million coins probably only 50% of those coins are of stake age dues to trading hands. So if your wallet wins the random stake lottery you will earn interest on the coins of stake age. That is the basic gist of it.
Right. This is in line roughly with what I understood, thanks for clarifying the stake age thing, that makes sense.
The 'random stake lottery' - how are the 'lucky coins' determined? Is it literally a random pick, and how often is that pick? The problem with information is it just raises more questions, heh.
That I'm not sure about, I know that the minting process is similar to mining in that the more coins you have the more often you will post stake much like hash power compared to block finding. But the fine details of the process as to how wallets are chosen I'm foggy on.
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