so once wallet is synec i buy RDd and start stake, does it mean the larger amount i have the better reward i get.
what do i need just keep have the wallet open and a good internet connecting
staking question
so once wallet is synec i buy RDd and start stake, does it mean the larger amount i have the better reward i get.
what do i need just keep have the wallet open and a good internet connecting
@kiwissz Yes, the larger your balance, the greater the staking reward. Just keep the wallet open and unlocked. Also consider keeping your computer from sleeping to maximize the time connected to the network.
Can someone tell me how staking works and what it earns? I have approx 1mil coins from 2014. Not sure if coin age matters?
@d33p said in staking question:
Can someone tell me how staking works and what it earns? I have approx 1mil coins from 2014. Not sure if coin age matters?
Coin age gets reset everytime you use your coins supposedly, so if you haven’t touched those coins you one lucky beetch and could be in for a lottery win. Staking is based on compound interest at 5% annually of your total coins my friend , but where you have the chance of winning the “lottery”. As you bare a certain number of tickets with each coin and where the winner is chosen with the most winning tickets every minute supposedly,
More info here along with a staking calculator -> https://agroff.github.io/posv/
Redd is the colour.
when I was new to reddcoin and trying to understand it, I came up with this.
Not accurate, but the best I could get out of the devs at the time :)
https://www.reddcointalk.org/topic/786/the-staking-ability-of-your-wallet
@Gozzy Thanks for that info. I have had my wallet up and staking for a couple weeks now and have been receiving staking rewards every 2 days or so. When you talk about the “lottery” what is that exactly, and is it something different than staking?
@d33p Staking to POSV is what Mining is to bitcoin. Every user has a chance to mine a block (in this case the wallet stakes the block). Whereas Bitcoin requires Terahash/second gagillion megawatt power sucking ASICs to perform the task of calculation, POSV requires that you let your wallet sit open. If you have 1 coin in the wallet, it generates coin age. When you get lucky and “hit a block” (i.e. your wallet happens to stake) your coin age resets, you generate coins, and it all happens again. When many people are staking many coins, it creates a higher difficulty. When higher difficulty is created, people with more coins in their wallet tend to stake faster, or more often, than those with fewer, however, when one with fewer coins stakes its for a “larger” sum (relative to coins owned) than if they were to hit blocks more often.
@bmp02050 То есть, разницы нет, если у тебя 10 000 Редкоин на одном адресе или 2 адреса по 5 000 Редкоин, всё равно больше 5 % не получишь?
@Alex007 said in staking question:
То есть, разницы нет, если у тебя 10 000 Редкоин на одном адресе или 2 адреса по 5 000 Редкоин, всё равно больше 5 % не получишь?
да это верно. Независимо от того, вы заработаете ~ 5%. Если у вас есть 2 адреса с 5000 в каждом, каждый будет зарабатывать 5%. Но 5% из 5000 - 250, и у вас это вдвое больше, чем 500 в год. То же самое с одним адресом 10 000. 5% из 10 000 - 500. Та же математика, другой расчет. Кроме того, это из Google Translate, поэтому извините, если это плохо.
@bmp02050 Всё понятно. Спасибо.
@d33p Check out the link i shared in the other reply , it tell’s you everything you need to know. Coin age is one of the factors that contributes to the stake lottery, as the longer you leave you coin’s in the same wallet results in higher probability of winning the lottery. But where there is a limit on coin age as if you don’t move your coins after a certain period the coin age is reset regardless. Where actually using and moving your coins can result in higher winning chances also.
Redd is the colour.