How do I stake?

Discussion in 'VeriCoin Support' started by Redsandro, Sep 20, 2016.

  1. Redsandro

    Redsandro Member

    I'm not sure how this staking works, and I haven't found a more detailed explanation apart from it happening automatically when coins are matured.

    1) I have coins, and they are matured. What does this "Staking 0.000 VRC" mean? Will it be the number of coins received after staking? It gives me the impression that I'm not staking, but the tooltip in (2) says otherwise.

    [​IMG]

    2) What does "min. earnable matured interest: 99%" mean?

    [​IMG]

    3) What is "Expected time to earn interest" based on? Why did it slowly drop from 34 days to 3 days in 24 hours?

    4) How do I stop only some of my coins from staking if I want to make a payment, and how long does it take? How do I know how many coins are staking and how many are spendable? (or is this a bug and should the number be visible in the screenshot posted at (1)?)

    Sorry for my newbie questions.
     
  2. souljah1h

    souljah1h infinite potential Forum Staff

    If you wanna know how PoST (staking) works I suggest reading this pdf

    https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

    1) No this not be the number of coins you will recieve. It should show how many Vericoin you are staking at the moment.

    2) Means that you will recieve Max interest, if you shutdown the client for 2 months and start it up again you will see that this number has dropped and you won't recieve max rewards untill it's back at 99.9%

    3) Not sure what it's based on (you could probably find that in the PDF I linked)

    4) I know there is a command for this, where you can 'lock/reserve' coins. Believe it's "reservebalance=x" ( x= the number of coins to reserve) in console.
     
    Janek likes this.
  3. Redsandro

    Redsandro Member

    Thank you for your response.
     
  4. Redsandro

    Redsandro Member

    Two questions are still unclear though. Using the same numbers to indicate a relationship;

    1) I still don't know if I'm staking now. Either I'm not: Why not and how do I start - or I am: There's a bug where it says that I'm staking zero coins.

    4) How long does it take before I can spend my coins after I stop staking them?

    Maybe I need to restart my wallet to see the amount of staked coins. Does closing and reopening the wallet break my current stake bonus?
     
  5. souljah1h

    souljah1h infinite potential Forum Staff

    1) If it says staking in the right bottom corner, you should be staking.

    4) I would not know, I never used the "reservebalance=x" command.

    Maybe @pnosker or @effectsToCause would know.
     
  6. Redsandro

    Redsandro Member

    For the record, I closed and reopened the wallet. But it still says staking 0.000 VCT.

    @souljah1h Could you check the showinfo command? Does it mention a stake amount for you?


    Code:
    "version" : "v1.6.5.1",
    "protocolversion" : 70003,
    "walletversion" : 60000,
    "balance" : ****,
    "newmint" : 0.00000000,
    "stake" : 0.00000000,
    "blocks" : 1376655,
    "timeoffset" : -1,
    "connections" : 20
     
  7. souljah1h

    souljah1h infinite potential Forum Staff

    @Redsandro
    Just started my client for the first time in 5 days. It did show
    0.00000000 at first, just like you (also on the getinfo). But after getting my first stake it now shows correctly.

    Code:
    "protocolversion" : 70003,
    "walletversion" : 60000,
    "balance" : ******.49304756,
    "newmint" : 0.00000000,
    "stake" : 2218.50245192,
    "blocks" : 1376799,
    "timeoffset" : -14,
    Seems like you need to stake first.
     
    Last edited: Sep 22, 2016
    Janek likes this.
  8. Redsandro

    Redsandro Member

    @souljah1h

    Indeed, after about a week, it did show how much was staking, although it was already staking because I received interest (or whatever the correct term is when staking vericoin).

    However, I see it only stakes about 30% of my vericoins. Can I stake more, and earn more?
     
  9. souljah1h

    souljah1h infinite potential Forum Staff

    Thats normal. Next stake could be 50% of your vericoins or 20%. Think it's just random. Not sure though.
     
    Janek likes this.
  10. effectsToCause

    effectsToCause VeriCoin Creator Administrator

    Staking coins is actually coins that have just been staked and are immature for next 8 hours, that is why they are called staking. They are locked for staking. The wallet automatically optimizes your staking amounts based on the network conditions to maximize interest earned.
     
    Janek likes this.

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