other coins have this. why not us? is it a problem of trust? maybe devs can set it up
johnbrainless There was one pre posv, but once that rolled out it was closed
sorry i mean a staking pool
johnbrainless ah that makes more sense, there was talk of one a while back where you could put your rdd in an account online and it would stake for you and take a small % out of the minted coins for server/service cost
i dont think its a bad idea but it may be hard to implement due to posv. what do you think?
I cant imagine it being too difficult, the main problems would be security and trust, it would be a huge target for hackers
The couple problems I see with this idea are that it
(a) requires trusting someone to stake for you honestly; and
(b) limits would have to be put in place regarding withdrawal rates (as in, there would have to be some delay from the time you request a withdrawal to when the withdrawal takes place)
The first limitation could be overcome, and maybe a larger player will enter the Reddcoin space down the road that could fill that void. This trust would have to be in the person’s honesty as well as their capability of providing staking security.
The second limitation is because the person managing the staking account(s) would have to be very aware of not wasting coin age to process every transaction.
I’m also not sure that there would really be a lot in it for the person doing this management unless they were able to convince enough people to get hundreds of millions, if not billions, of Reddcoins involved in the pool. Otherwise, if they took just a small percentage of the staked earnings we are talking about pennies per day.
These last two points were ultimately partially responsible for the previous attempt at such a service deciding against continuing it.
bigreddmachine Yeah, too bad there isn’t a way to be like NXT where they lease the funds.
If doing it,then I will do in this way.
I will do what shapeshift.io has been doing.
In the model,Because providers cannot put eggs into one basket so You will need to provide real mail address , real post box number or bitmessage ID for applying the service.
I’m planning for it.
Although there are issues like other competitions. Someone has reported that friedcat’s fund has been dumped much after disappearance confirmed.
Perhaps we should use multi-sig as the gate.
I think it’s a terrible idea which relies upon trusting a third party, and would heavily centralize. Although, we have several billion coins just sitting on Cryptsy…
I’m afraid someone has been running secretly. I only need two things, your username on this forum, non exchange’s payment address. So I am looking for possbilities to make normally. It is proably dangerous one address, signing 4% of the new blocks. Which I believe the address is used for group minting or for exchange purposes.
Someone with little amount of coins can gain interest close to stacking by having his/her coins in this exchange.
Although it was good idea, I am afraid it possibly is not doing the right things.
Coinwallet.co has been doing a real thing for few days, and the infrastrcture has been here for a year. I’m still studying how much fund is deposited in for minting. Also there may be issues.
While my project purposed, well with a little modfication, Removing unneccessary steps.To join, You should have your PGP key for taking part in. The Instructions of using my node for real insterest (Skating) will be posted later on.
During a step, In short, I will give you the instruction of how, And I have a RPI which should be offline, for preparing purposes.
Let us see how the first edition of brainwallet. It is now having a new trick, how to discuss with ClamCoin’s schematic. While Warp Wallet allows something like this, the brainwallet is now. It had +128 rule only, now it has another rule so it is more flexible than before.
The version of Brainwallet, https://brainwallet.github.io/. Now having one more funcion to deal with something like ClamCoin, while Putting Reddcoin for the case. You may now know why You will need PGP if you like to discuss more as I protect you from the worst at the lowest cost but very robust.
I Believe, the author know me a little more right now.
It is possible to have staking on multisig addresses? I think that would minimize the trust issue…
There is an alterative way. Multi-Sig is designed for vault purpose, from the design, you cannot mint with it as it requires two sigs to do.
However there are two ideas to run it secure with the least cost.
From the first version of brainwallet’s design. It is believed that the crypto is already ‘cracked’ if entered a right combination. Fortunately, there are so many combinations which is just uneconomical to find all of the combinations at a given time such as 30 days so some people have noticed this, then modified the crypto model for other purpose such as bitmessage.
I have now formally say, based with model my Genuine GroupMinting is now in Beta stage as I have solved some major issues of how.
To take part in, then you will need
- PGP or Bitmessage-ID
The PGP is popular, while Bitmessage-ID is based on Bitcoin-protocol. The security level is at least 2048-bit,which is same as the crypto. While PGP supports stronger encryption, also support expiry function, and it does not need connection to process these information.
Bitmessage-ID can also run in offline, also simple, but with different natures. It is able to keep at most two days, Can hackers crack these?
I will announce when I accept applications. This moment is pusposed 16 seats.
During the days,I think I just have figured how to use bitmessage. You better download the client ,setting high difficulity like a thousand or even more yourself instead of using the email portal as I personally believe The provider knows everything even he says he don’t know because the key required is encrypted by users. The message does not store forever like blockchain,it only last for few days.
I will update later on.
konysulphrea Let me know if you need help with Bitmessage, I’m a dev of it plus moderator on the forum, been with it since the beginning.