I just saw these message on top of the forum:
willywithcoinnode [16|Sep 10:33 am]: what’s the best chunk size of ppc to mint? 200 ppc per address?
willywithcoinnode [16|Sep 11:08 am]: so a 1000 ppc chunk has a near 100% success rate over 90 days?
so is there really an optimal ppc per address to mine PoS?
The “ideal” stake size is dependent on many external (other minters) and internal (personal) factors and likely constantly in flux. Play around with http://peercoincalculator.info/ for a while to get a sense of current minting odds with varying amounts. Keep in mind that difficulty can change rapidly when more minters become active. Also, an important personal factor to keep in mind is how long you can afford to keep coins unspent. If you consolidate all of your coins in a single transaction you will lose all of your stored coin-age if you later spend even a small amount (a thereby lose an opportunity to mint!)
If you hit a PoS block within 90 days, it will split to two transactions. Suppose that you want to do long term minting (for example 1 year), it will be better if the size is several thousands (for example 4000 PPC).
If you hit a PoS block within 90 days, it will split to two transactionsThis kind of info should be put o top somewhere. I wish I knew that before, I dont want it to split in two transactions extending the mint mint next time around :omg:
Well if you insist on maintaining a single large stake you can always re-spend the two outputs into a new transaction. At worst, you only end up “losing” about 3 days while waiting for 520 confirmations… balance this “loss” against more frequent compounding of interest and the value of protecting the blockchain!
thx for the idea.
once you ve determined your “ideal” stake size I reckon y’d like to keep the organised stakes that way sizewise. There is always a stake somewhere ready again for minting, well in theory at least…
I ll think of another strategy once cold minting is available.
If you use big unspent output (stake) you find blocks quickly but if you want to move some of the coin you could lose coin days for the whole stake. And you don’t help the network if you don’t mint often.
Use http://poscalculator.peercointalk.org/ to find a stake size that gives POS in a period that you like. I think 400PPC is pretty good – you have almost 90% chance to get a block in 90 days if you keep minting.
ok to sum up: if you keep your mint open at all times, your stake will keep on splitting in two until to a point where it takes somewhat more than 90 days to find a mint again. Right now that point floats around 400 depending what the initial stake was
Yes, the main point of the conclusion is right. But the point, where it takes more than 90 days to mint a block, does not depend on your initial stake size, but on the proof of stake difficulty in the ppc-network.
400 is the number that will give about 90% chance of a POS block in 90 days approximately at diff=12. Whether it will split again or not I don’t know for sure… I think the current no-split size may be about 150 from this.
I don’t understand about the “splitting”, it seems all my PPC are still staying in my original address when I look at the block explorer, even the newly minted mining rewards are also going to that address. What is this “splitting” you guys are talking about?
As I understand it, the stake becomes two transactions, which each have its own minting ability. The two transactions are still sent to the same address.
The “aha!” is that a single Peercoin minting block is found by a single transaction output, not by a single destination address.
As I understand it, the stake becomes two transactions, which each have its own minting ability. The two transactions are still sent to the same address.
The “aha!” is that a single Peercoin minting block is found by a single transaction output, not by a single destination address.[/quote]
Yes. Minting is by every “unspent output” (utxo) of previous transactions. More than that, if a POS kernel is found by one utxo many small utxos in the same address will be combined together (until the no-splitting amount limit, and subject to some other rules).
Peercoin is complex.
I had 100 splited. So the non-split size is less than 100.
I had 100 splited. So the non-split size is less than 100.[/quote]
It’s difficulty dependent.
I still don’t understand, so can someone write a guide on how to mint peercoin proof of stake the right way? Including how to properly split and stuff.
i got confused by mhps latest comment, but here is my take:
take a look at a recent pos mint: http://bkchain.org/ppc/tx/b35e800a5778c2cda984c6d7af489418550b1b179f748f93f0b6d0bfb0d1720e
it has 1000 as input and got splitted up to txo 500.71 and 500.72.
These unspent outputs are your lottery tickets for your next mint. If you were to find a mint block again with either one within 90 days, it gets splitted up again. Theoretically there is a no-split point where it takes longer than 90 days to find a mint again. Just play with the pos calculator a bit to get a feel
There is no manual how to mint the right way as some like to mint 24/7 while others like to mint occasionally.It should be noted that the more minters at any moment the stronger the network security is.
One way is to let it ride, until you find that the output is too low for your taste and ‘repackage’ it again with peerunity’s coincontrol. Comes with some transaction fees and coinage loss tho.
You don’t sound confused. Everything you said in the rest of your post is right.
Theoretically there is a no-split point where it takes longer than 90 days to find a mint again.
Right. However I don’t remember the “longer than 90 days” bit is defined by reaching how much probability 50%? 68% 90%?
There is no manual how to mint the right way as some like to mint 24/7 while others like to mint occasionally.
If the calculator tells you that you have 1% chance in one day, you have 1% if you mint one day; you have ~2% if you mint two days; you have 1/24 % chance if you mint one hour and stop.
One way is to let it ride, until you find that the output is too low for your taste and 'repackage' it again with peerunity's coincontrol. Comes with some transaction fees and coinage loss tho.
Note that finding a kernel later doesn’t reduce your per-day-ownership-reward, you just get it later with a bigger sum. Compared with getting reward early, you could lose some “compound interest” which is tiny.
We have a video demo of how to mint with your wallet, but it just covers the basics of the user interface. In my opinion, splitting/joining stakes isn’t necessary at all in order to mint efficiently. You’ll likely just end up wasting transaction fees and coin days, with no benefit.