Some Questions on Staking


#1

Hi Reddheads,

I managed to get a wallet which I could indeed unlock. So I started staking. There are a lot of questions arising and the documentary seems to be a little low on that.

  1. I was staking and generated a block within 16 hours (which also was said by the average time). Directly after I received the bonus, the average staking time for the next block jumped to 100 days. How come? Is Coin age consumed somehow by sucessfull staking? Also the coins were very young (maybe 1 day).

  2. What is the difference between “Available” and “Stake” in the Wallet and why, for example now, I am staking but there is 0.00 RDD in staking (while there is still saying that I stake with average reward time etc.

  3. I am looking for efficient staking which means, right now, hoarding (sorry, devs). How can I stake efficiently? Should I send the coins from one wallet to another to reset the coin age? Or is holding a dominant strategy when you not really spend the coins?

  4. I think about leaving one computer with good electrical efficiency running 24/7 to ensure the safety of the network but also of course to produce interest. Is it a problem to have one and the same wallet open and unlocked (for example when I open the wallet on my main computer, while the other one is staking)?

Kind regards,
Sammy


#2

Good questions…


#3

Sammy

  1. Coin age is consumed everytime you stake, so you need to wait for it to build again
  2. Available - what you can spend immediately
    Staking - balance held for the staking period
  3. It is a challenging question, ideally you need to allow your coins to mature for exactly 7 days
    However, the network forces will modify that due to network weight and difficulty
  4. Dont open the same wallet on 2 different computers. You can run into issues with the wallet splitting into 2
    Rather, set yourself a wallet to stake 24/7 and your second wallet for spending

Good questions

Cheers


#4

Gnasher

Thanks for the infos!

Still some things unclear.

Regarding 2) How can I allocate coins to stake? Also, it says I have 0 RDD in Staking, but the wallet is staking with an expected reward. So also the available coins are staking?

New Question: How come yesterday was my wallet (with the same coins) saying expected reward in 100-65 days. And today it says 1 day again. I guess the formula of the wallet does not account for the expected aging of the coins?!

Cheers
Sammy


#5

Very good info! Thanks!

But I still have some doubts about moving or not the coins to take max. staking profit… Do we need to move the coins? when, after 7 days?

Sammy I have the same questions about stake coins… All my coins are one day old, now the wallet says it’s staking and it’s expected to earn rewards every 2 days (I hope these days are not just working days :). But… I have 0 RDD in staking…

Thanks

Thn


#6

Gnasher Another question to 4. (sorry). What does it mean that the wallet can split. Is this making permanent damage or can you save your funds (even though it might be annoying)?


#7

Sammy wallets have a default pool of private keys, if you spend funds from a wallet, it will currently generate a new change address if any change is returned from a transaction. If the private key is in one wallet.dat file and not in the other, you’ll have a different balance in both wallets.


#8

Good day,

anyone have a FAQ to install the Reddcoin Wallet on a Pi2 for staking?

regards


#9

Thanks for the good question TheSaltyJ and great answer Gnasher


#10

Buchi_88 check out my Ubuntu Reddcoin Core staking tutorial -> https://www.reddcointalk.org/topic/1498/reddcoin-core-v2-0-ubuntu-16-04-installation-cloud-staking

If you are unknown to installing Ubuntu on a raspberry pi check out this tutorial -> https://fossbytes.com/install-ubuntu-mate-on-raspberry-pi-2-3/

I’ve never had experience with a raspberry but there is plenty of walkthroughs online on how to compile it.