# Max coin age?

what is the max coin age for ppc? I thought it is 90 days. But I just read a post in a chinese forum that some one claimed that the max coin age can go up to 210days??

Do you have a link to the Chinese forum post where they claimed the max coin age could go up to 210 days? We should follow-up and correct that assumption

[quote=“Ben, post:2, topic:2053”]90 days is the max coin age.

Do you have a link to the Chinese forum post where they claimed the max coin age could go up to 210 days? We should follow-up and correct that assumption[/quote]

the guy kept 968.05ppc in his wallet from 4/05/13 till 30/11/13 (210days) and then mint on 30/11/13 and he did

coin agePPC balance1%=210days/365days968.051%=5.56ppc

the guy kept 968.05ppc in his wallet from 4/05/13 till 30/11/13 (210days) and then mint on 30/11/13 and he did

coin agePPC balance1%=210days/365days968.051%=5.56ppc

The coin age is used for 2 things:

1. A difficulty modifier. The bigger the coin age, the easier it is to find a PoS block. For this, the modifier stops increasing after 90 days.

2. The PoS reward. There is no maximum on the coin age when the reward is calculated.

Thanks, Mike, for clarifying that.

I just assumed the question had to do with coins maturing to increase the probability of solving a block, and didn’t think to address the second part of the function of coinAge, regarding the reward.

[quote=“sigmike, post:5, topic:2053”]The coin age is used for 2 things:

1. A difficulty modifier. The bigger the coin age, the easier it is to find a PoS block. For this, the modifier stops increasing after 90 days.

2. The PoS reward. There is no maximum on the coin age when the reward is calculated.[/quote]
Thanks for the answer, one more question.

In order to get POS Reward, do I have to keep my ppc stationary? Do I loss my coin age if I add more ppc to my wallet?

No, you won’t lose coin days from your existing transactions in your wallet if you add more coins to an address. It is only when those coins are moved to another address as an output that their coinAge is reset.

ok, for that case do I lose all the coin days for all the existing coins or I just lose the coin days for the coins which are moved?

A transaction of coins you received starts earning coin-age after they are 30 days old.

Day 31, they earn more coin-age, and the minting difficulty is pretty high
Day 32, they earn more coin-age, and the minting difficulty is still high (but a little less than 31)

Day 89, they earn more coin-age, and the minting difficulty is much lower than day 31
Day 90, they earn more coin-age, and the minting difficulty is now as low as it can get, but there is still difficulty level for minting

Day 100, your minting difficulty remains the same as day 90 (it can’t get lower), but the coin-age towards how much interest you deserved is more than it was on day 90 because 100 days have passed without getting your interest. (still 1% just 100 days worth)

day 500, your minting difficulty remains the same as day 90 (it can’t get lower), but the coin-age is towards how much interest you now deserve by day 500 is more than it was on day 100, because 500 days have passed without getting your interest. (still 1% just 500 days worth)

When you finally do mint a block, it will be the equivalent of 1% per year, irregardless of when you mint it. It could be day 31, it could be day 5,235. It all depends on how many coins you had, how old they are, how lucky you were when they were minted, etc.

There is a luck involved in minting, but when you finally do mint a block (sooner or later) you get what is coming to you, the same 1% / year interest that everyone gets.

Have lots of coins? You’ll mint sooner. Have tiny amounts of coins, you’ll probably mint later.

[quote=“ppcman, post:10, topic:2053”]A transaction of coins you received starts earning coin-age after they are 30 days old.

Day 31, they earn more coin-age, and the minting difficulty is pretty high
Day 32, they earn more coin-age, and the minting difficulty is still high (but a little less than 31)

Day 89, they earn more coin-age, and the minting difficulty is much lower than day 31
Day 90, they earn more coin-age, and the minting difficulty is now as low as it can get, but there is still difficulty level for minting

Day 100, your minting difficulty remains the same as day 90 (it can’t get lower), but the coin-age towards how much interest you deserved is more than it was on day 90 because 100 days have passed without getting your interest. (still 1% just 100 days worth)

day 500, your minting difficulty remains the same as day 90 (it can’t get lower), but the coin-age is towards how much interest you now deserve by day 500 is more than it was on day 100, because 500 days have passed without getting your interest. (still 1% just 500 days worth)

When you finally do mint a block, it will be the equivalent of 1% per year, irregardless of when you mint it. It could be day 31, it could be day 5,235. It all depends on how many coins you had, how old they are, how lucky you were when they were minted, etc.

There is a luck involved in minting, but when you finally do mint a block (sooner or later) you get what is coming to you, the same 1% / year interest that everyone gets.

Have lots of coins? You’ll mint sooner. Have tiny amounts of coins, you’ll probably mint later.[/quote]
Thanks ppcman, this make a very good sense to me. I guess the most effective and safe way to mint is:
Save the ppc in cold storage (like paper wallet) and then import them to a client every 90 days for minting.
After received the stake, put them back to a new paper wallet. Do you agree?

[quote=“Percy520, post:11, topic:2053”]Thanks ppcman, this make a very good sense to me. I guess the most effective and safe way to mint is:
Save the ppc in cold storage (like paper wallet) and then import them to a client every 90 days for minting.
After received the stake, put them back to a new paper wallet. Do you agree?[/quote]

That is up to you. Some people who are worried about having their wallet online, and want to mint at the best time could do that… I don’t recommend that though.

There is an opportunity for compounded interest. Once a block has been minted, and 520 block confirmations release the initial stake that was used to create those “newly minted coins”… Those new coins, also earn stake.

So the faster you mint, the more opportunities you have to earn compounded interest on those newly created coins.

So if you can, having your wallet open from day 30 to day 90 is also a good idea, even if it is a small chance initially to mint coins. Plus it helps secure the Peercoin network by having your wallet confirming other people’s transactions too. After all, what is the point of holding peercoin and minting, if the every one didn’t want to participate in helping to keep the network healthy by contributing day-to-day.

The only time I would agree it would be a good idea to send coins to a paper wallet is for that initial 30 day period. Because there is no chance to accumulate coin-age. Keep in mind though, the act of moving coins to paper back/forth can be risky if you do something wrong. So frequently storing in paper wallets in/out isn’t a good idea in my opinion.

What I personally do is this:

1. I export my private keys to a paper backup and keep it in case my hard drive goes “poof” and dies, and I can’t get them later.

2. I encrypt my wallet file with a passphrase

3. I setup a firewall on my mining computer that the only thing that the outside internet can access on my computer inbound is port 9901 through TCP. (This advanced information, routing and firewalls isn’t something I can give tech support on)

4. I have this lower powered computer (an old laptop) running 24 x7 with my wallet online, minting.

5. I am careful not to use that regular computer for regular web browsing, etc, so I don’t download a virus, malware, any keyboard loggers, etc.

This is how I do it. You can make your own decision on what suits you best.

[quote=“ppcman, post:12, topic:2053”][quote=“Percy520, post:11, topic:2053”]Thanks ppcman, this make a very good sense to me. I guess the most effective and safe way to mint is:
Save the ppc in cold storage (like paper wallet) and then import them to a client every 90 days for minting.
After received the stake, put them back to a new paper wallet. Do you agree?[/quote]

That is up to you. Some people who are worried about having their wallet online, and want to mint at the best time could do that… I don’t recommend that though.

There is an opportunity for compounded interest. Once a block has been minted, and 520 block confirmations release the initial stake that was used to create those “newly minted coins”… Those new coins, also earn stake.

So the faster you mint, the more opportunities you have to earn compounded interest on those newly created coins.

So if you can, having your wallet open from day 30 to day 90 is also a good idea, even if it is a small chance initially to mint coins. Plus it helps secure the Peercoin network by having your wallet confirming other people’s transactions too. After all, what is the point of holding peercoin and minting, if the every one didn’t want to participate in helping to keep the network healthy by contributing day-to-day.

The only time I would agree it would be a good idea to send coins to a paper wallet is for that initial 30 day period. Because there is no chance to accumulate coin-age. Keep in mind though, the act of moving coins to paper back/forth can be risky if you do something wrong. So frequently storing in paper wallets in/out isn’t a good idea in my opinion.

What I personally do is this:

1. I export my private keys to a paper backup and keep it in case my hard drive goes “poof” and dies, and I can’t get them later.

2. I encrypt my wallet file with a passphrase

3. I setup a firewall on my mining computer that the only thing that the outside internet can access on my computer inbound is port 9901 through TCP. (This advanced information, routing and firewalls isn’t something I can give tech support on)

4. I have this lower powered computer (an old laptop) running 24 x7 with my wallet online, minting.

5. I am careful not to use that regular computer for regular web browsing, etc, so I don’t download a virus, malware, any keyboard loggers, etc.

This is how I do it. You can make your own decision on what suits you best.[/quote]

Excellent suggestion!
BTW, the Chinese thread is written by me. Sorry for the unnecessary confusion. I think I have confused the ideas between “Coin age” and “PoS reward” . They are two different things.

Hi ppcman, thanks for the suggestion. I want to help to secure the peer coin network as much as you do. But I am not a computer technical expert like you so I do not have confident to keep
all of my ppc online for that long time. I will make my wallet to stay more time online in the future when Sunny make some security improvement on minting. Hopefully this will happen in 0.5.

[quote=“ppcman, post:12, topic:2053”][quote=“Percy520, post:11, topic:2053”]Thanks ppcman, this make a very good sense to me. I guess the most effective and safe way to mint is:
Save the ppc in cold storage (like paper wallet) and then import them to a client every 90 days for minting.
After received the stake, put them back to a new paper wallet. Do you agree?[/quote]

That is up to you. Some people who are worried about having their wallet online, and want to mint at the best time could do that… I don’t recommend that though.

There is an opportunity for compounded interest. Once a block has been minted, and 520 block confirmations release the initial stake that was used to create those “newly minted coins”… Those new coins, also earn stake.

So the faster you mint, the more opportunities you have to earn compounded interest on those newly created coins.

So if you can, having your wallet open from day 30 to day 90 is also a good idea, even if it is a small chance initially to mint coins. Plus it helps secure the Peercoin network by having your wallet confirming other people’s transactions too. After all, what is the point of holding peercoin and minting, if the every one didn’t want to participate in helping to keep the network healthy by contributing day-to-day.

The only time I would agree it would be a good idea to send coins to a paper wallet is for that initial 30 day period. Because there is no chance to accumulate coin-age. Keep in mind though, the act of moving coins to paper back/forth can be risky if you do something wrong. So frequently storing in paper wallets in/out isn’t a good idea in my opinion.

What I personally do is this:

1. I export my private keys to a paper backup and keep it in case my hard drive goes “poof” and dies, and I can’t get them later.

2. I encrypt my wallet file with a passphrase

3. I setup a firewall on my mining computer that the only thing that the outside internet can access on my computer inbound is port 9901 through TCP. (This advanced information, routing and firewalls isn’t something I can give tech support on)

4. I have this lower powered computer (an old laptop) running 24 x7 with my wallet online, minting.

5. I am careful not to use that regular computer for regular web browsing, etc, so I don’t download a virus, malware, any keyboard loggers, etc.

This is how I do it. You can make your own decision on what suits you best.[/quote]