Not sure if i udnerstand minting

Support
1

Hi all,
I have bought some peercoin last year because I thought minting by holding coins is a great idea. I have downloaded the wallet, sent the coins there, unlocked it for minting and waited… and waited. The probability of minting was always low, so I wanted more.

I thought it’s enough to have the coins in the wallet and unlocked, but recently I read that the wallet app has to be running and connected to the internet in order to mint. I haven’t minded any coins in over a year, so I set up my wallet in a way that the computer is always on and always connected and minting for coins.

My coinday values are over 1900 and 1200 and age is 419 and 453. I thought I would have mined something by now. I’m again observing the probabilities and they are still small.

I have started noting the probabilities and have discovered today that they are decreasing instead of increasing. So the more I mint, the less probably is that I will mint something.

I suppose I don’t understand the process of minting at all, so please someone explain how this can be happening, what I don’t understand or what I’m doing wrong.

I tried to calculate the probability if minting at an online calculator, but the link is broken.

Thank you!

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2

The difficulty is going up (because more people are minting), so it’s getting harder and harder to mint for everyone.

1 Like
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Thank you, that makes sense.
Is the number of all coins also increasing?

4

The wallet will tell you your minting chance, check the Minting tab.

Yes, at about 2.3% a year.

5

Thank you for your reply.

The wallet will tell you your minting chance, check the Minting tab.

Yes, that’s where I’m checking for the MintProbability. I just find it weird that the probability would decrease from day to day. I would expect it to increase as Age and CoinDay values grow, but that’s not what I’m seeing. And I have never minted anything in a year, that’s why I’m trying to find what I’m doing wrong.

Yes, at about 2.3% a year.

Ok, not so much then.

6

As mentioned above, PoS difficulty is currently rising.

Thus it’s harder for everyone to find a block.

Coin age is capped at 90 days.

You probably have a small amount of coins and at best you can find a block or two a year.

7

Thank you for your answers, everything is clear now.

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If you’re still interested in minting there’s will be new UI wallet that will use the RaspberryPI to mint all day long called Peercoin PI : GitHub - mperkins707/peercoinpi: The Peercoin Minting Station is a software that can stake your funds securely on your Raspberry PI device.. All you will have to do is setup a RaspberryPI device with the image. Connect it to the internet using an ethernet cable and ready to mint.

Software is still in progress but in the long term it will let you mint and by doing that you will have more chances to mint than leaving it off and turning it on for minting.

Computer is not so great for this kind of purpose like minting and leaving always on ( it can but it’s not practical at all ) that’s why a dedicated device will help.

There you will find the exact probability based on difficulty like in the desktop client.

If you have any questions feel free to ask :wink: