How long does it take to get your first reward?

General
1

Hi,
I’m new to reddcoin but not to cyptro. I got the reddcoin wallet. Took 2 days to sync. On the 27th of Dec I deposited about 80,517 reddcoin coins. It’s been about 6 days and nothing. No reward. My laptop is on 24/7 so it is staking 24/7. So when will I see reward?

2

With that amount, I’m guessing it takes around 1.5 weeks to 2 weeks to get a reward.

Staking with more coins would speed up the times to get a reward. I’m currently staking on my Raspberry Pi (low power consumption) with around 300.000 RDD, and am rewarded once every 2/3 days on average.

If you have a Raspberry Pi, I would highly recommend staking on that device. I’ve written a tutorial about it that might be useful in that case: https://www.reddit.com/r/reddCoin/comments/a0wn1v/updated_staking_reddcoin_core_client_gui_wallet/.

2 Likes
3

May I ask you some questions?

  1. How good are these Rewards calculators? They give you a daily, weekly, monthly and yearly.

  2. Now you say you get a reward about every 2 to 3 days. Does the amount you get total up to what you would get for those 2 to 3 days? Your daily earnings would roughly be 43.154 RDD coin so for 3 days do you get 129.45 RDD coin?

  3. Why does it take so long to get a reward based on your holdings?

  4. Forgot to ask. What is weight in staking, And what does it do?

Thank you.

4
  • How good are these Rewards calculators? They give you a daily, weekly, monthly and yearly.

I haven’t used those calculators. But I just tried Understanding PoSV; those averages seem to be correct.

  • Now you say you get a reward about every 2 to 3 days. Does the amount you get total up to what you would get for those 2 to 3 days? Your daily earnings would roughly be 43.154 RDD coin so for 3 days do you get 129.45 RDD coin?

Yes. You are rewarded randomly; so, sometimes you’re rewarded within 24 hours, sometimes it can be 3 days, or even 6 days (depends on the amount you’re staking with). The longer it takes to get rewarded, the higher the rewarded amount is.

  • Why does it take so long to get a reward based on your holdings?
  • Forgot to ask. What is weight in staking, And what does it do?

Answering these at the same time. You really should read this: Understanding PoSV.

Basically, the higher the amount you stake with, the higher the (total) weight will be. And the higher the total is, the higher the chances of being rewarded. See it as a lottery, the more tickets you have, the higher the chance to win something. The yearly reward of Reddcoin staking is 5%; so if you stake with 100,000 RDD, after a year, wou will be rewarded 500 RDDs. If you stake with 500,000 RDDs, your yearly reward will be 25,000 RDDs.

 

To sum it up:

  • If you stake with an higher amount, you will be rewarded more often.
  • If you stake with an higher amount, the rewarded amount will be higher.

 

I highly recommend reading Understanding PoSV.

5

I don’t know if it allowed, but the Reddcoin subreddit (https://www.reddit.com/r/reddCoin) is more alive/visited frequently then here, so if you post there, you have a higher chance of getting help or answers…

I am also active there (same nickname); so if you have questions don’t hesitate to ask there.

6

I’m reading from that link you provided. Got my first reward. But now it stop staking. So from reading after you buy or get a reward your older coins reset there age. And it starts all over and you wait.

I’ll check the reddit out.
Thank you.

7

That’s why it’s better to stake with a device that has low power consumption. My Raspberry Pi 3B is powered on 24/7 and doesn’t need any maintenance.

See you on Reddit…

8

I do not think, it is a problem today…