Officially confirmed + HOW TO - holding Antshares (NEO) in web wallet generates Antcoins (GAS)

in cryptocurrency •  2 years ago  (edited)

Two weeks ago I bought my first Antshares. I read about the Antcoins and I wanted to check this out of course. Unfortunately, it wasn’t possible then. The Windows PC wallet was very confusing so I decided testing out the web client. That went fine, but then I noticed my Antcoins didn’t appear. I read that they are automatically generated, also when you are holding it on your web client. But any proof I could not find and I certainly wanted to test that.

So I started my little journey. At a certain point, I read that you could import your private key in the PC wallet and you could claim your Antcoins. But then the question was: how do I find my private key in the web wallet. I saw only my public key. I tried to download the back up file from the web wallet, but after opening it in Notepad I saw that everything was encrypted, also my private key of course.

Today I noticed they added finally a link where you can view your private key.

How? Open your web wallet and go to the tab ‘Receive’. At this moment, you are seeing a link to your private key named ‘Check your private key’. Click on it and write this somewhere down.

In the meantime, there appears a great guide for setting up the Antshares PC wallet.

When you don’t have an Antshares (NEO) wallet yet, it is simple: just follow these steps for claiming your Antcoins and that’s it. https://www.reddit.com/r/Antshares/comments/6j8pcp/a_basic_guide_to_the_antshares_pc_wallet/

But when you are using the web client – like I did – I want to add something to this.

You have to follow the same steps for creating an Antshares PC wallet but you have to ignore step 6 (because you already have your private key from the web wallet).

After finishing step 7, you will see your adress appear in the account tab. But your amounts will be zero. So to fix that, you have to close the wallet, open your Wallet database again and tick ‘repair mode’. After a few minutes, the balance is showed. And after that moment, you can do step 9 and receive your Antcoins/gas! :)

If you want to check out how much your Antcoins are worth, go to https://www.19800.com/market/cny_anc and convert the CNY you are seeing into USD and you have your value.

With this, I can confirm finally that when you are holding Antshares (NEO) in your web wallet, you are generating Antcoins (GAS). Now I can sleep quietly again. ;)

For the curious people: the payout rate is 8 ANC (antcoins) each block (15 seconds). If you have 1000 ANS the payout rate is 1000/100,000,000 (total supply) = 0.00001 x 8 ANC per block x 5760 (blocks a day) = 0.4608 ANC a day (*365 = 168.192 a year)

EDIT 3/7: My claimed Gas is showing up in my web wallet now!

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brilliant. much appreciated

Hi so in web wallet it is sufficient to send to my address when i have ANS my ANS and after that after 24 hours I will see gas on my wallet ?

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there is a calculator link. https://neocoins.net/ this will tell you how many ANCS you will generate by storing your ANS in the web wallet. of course you won't be able to see them if you have a Mac or you know your stuff about opening windows on the Mac. I'm hoping a new wallet comes out soon for the Mac so I can claim the gas it generates.

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Thanks for answer,So if i send Ans to myself it won't be shown gas even author of article saying in web wallet we can do this?

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Read carefully, you can't claim your gas in the web wallet at the moment, you have to do that with the PC wallet. I was only testing if my web wallet was generating gas in the background and that is what I can confirm with this post + I describe how you can claim your gas on the PC wallet when you have already a web wallet

Hello @nvdm,

Thanks for the article. Do you know how to proceed for Mac users? Can we redeem the Antcoins too (or see the balance somewhere) or not yet?

Cheers :)
Tanguy - Incognito007

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  ·  2 years ago (edited)

You can set up a virtual computer with Windows on your Mac, but I don't know how exactly. I would say let them in your web wallet and claim them later, when this becomes easier. :)

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Yes, I will just wait... and redeem those later. Thank you! :)

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How long does it take to transfer ANS from Bittrex to the Neo wallet? I withdrew 2 ANS from Bittrex as a test but they haven't appear in the Neo wallet yet - even after restoring it. Is it just a matter of time?

I don't see the "repair" button. Do you know if that and the "advanced tab" become available once my ANS populates in the wallet?

I'm reluctant to keep my ANS on the exchange so any feedback would be appreciated. Thank you!!!

EDIT: My ANS is now in the web wallet. How can I claim my ANC from here? I tried sending the ANS to myself but it has not generated any gas yet.

Thanks!

JS

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  ·  2 years ago (edited)

You can see transactions on https://antchain.xyz/ but I'm glad you have already received it. I don't know the exact transfer time so far.

The repair button you can find in the menu top left: Wallet --> Open wallet database and then you will see a checkbox with 'repair mode'. But notice, this can only be done in the PC wallet.

I don't know if you have a PC wallet also because in your edit you say your ANS is in your web wallet now. On the web wallet, you can't claim the ANC at this moment. But I can ensure this due this post that it is generating ANC in the background, which you can claim on a later moment. And if you can't wait, you can try these steps and set up a PC wallet which I described in this post.

I bought GAS. Does anyone know if there is a separate address to send GAS to in the NEO wallet? I have 1 address and not sure what to do if let's say I wanted to withdrawal and sell my GAS, but not my NEO. Anyone?

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It is the same address, in the web wallet https://neowallet.cn/ you can select which you want to transfer (the gas or the NEO shares)

Maybe a dumb question, but how does putting Antshares into a wallet generate antcoins passively? Where does that money come from to generate antcoins?

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So all i have to do is transfer my neo into that wallet and ill get free gas ?

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"100 Million AntCoins could be generated, representing ALL of the right of using the Antshares Blockchain. ANC will be generated by every new block. With the set slowly-decreasing pace of generation, ANC will be generated from 0 to 100 Million within approximately 22 years."
You can read more about it in the whitepaper: https://github.com/AntShares/AntShares/wiki/Whitepaper-1.1#j

You can see it as a separate coin, with supply and demand. Demand will increase so Antcoins will become more worth in the course of years.

This was very helpful. I too have some AntShares in the web wallet. I feel a little better that it was generating AntCoins this whole time. I hear Binance is partnering up with Neo to let people generate AntCoins in their exchange wallet. Interested to see how that works as well.

Ythnxs m8

Please peepz is it like I get antcoins for free or ????,like I don't understand all this ,can I withdraw the antcoin which is called gas now.....please I need simple explanation

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Yes, you have a share (NEO) and you can earn dividend (GAS) from that. You can withdraw the gas you generate in the web wallet, see https://neowallet.cn/

From the NEO Whitepaper:

"GAS is the fuel token for the realization of NEO network resource control, with a maximum total limit of 100 million. "

It isn't any more rare than NEO even though it is displayed as 9 million on CoinMarketCap.

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The 100 million is generating in 20 years, so at the moment there are just 9 million created yet.

You have a new follower. I posted my top 4 coins a few days ago and NEO made the cut...edged out DASH...but not by much lol

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Nice!

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OK. But where did you post the list?

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hey everyone, you can check out how much GAS or USD you're making with the NEO shares you have.
basically, today, for every 100 NEO, you get around $25 each month.
here's a link to the tool :
https://neotogas.com/

Great post thanks. Huge fan of NEO even though it has given me BA - https://steemit.com/cryptocurrency/@cryptocoinclub/confessions-of-a-blockfolio-addict

Great post. Thank u. Quick question. Do u need to have the wallet connected and "running" all day like a masternode?

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No, there are some updates now and the new web wallet syncs insta, see https://neowallet.cn/

Where is Repair Mode?

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In the desktop wallet but I would recommend to use this one https://neowallet.cn/

Very good blog. Interesting to see I'm not the only one that is thinking about this. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. I was wondering if anyone of you uses: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. Check for example: https://www.coincheckup.com/coins/Neo#analysis For a complete Neo Detailed report.

Hi recently downloaded the Neo GUI desktop wallet and the Sync seems to take forever! Could you please tell me if you have an indication on how long it takes to sync the desktop wallet and an estimate on the amount of data it uses? Thanks

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Use the new one, https://neowallet.cn/ works great

You can use that NEO / GAS / Antshares web wallet works perfect https://www.myneowallet.io

Does it matter how often you claim your Gas? Is there a reason to claim less often than you are able?

Thanks very much for this, it was really simple! Though if I'm on a different computer/browser, how do I access the web wallet again?

QUESTION: Is there any reason to delay claiming gas? Do you lose gas beyond a certain decimal place (NEON wallet only shows three numbers after the decimal). Is there an optimal claim frequency? Or should we be claiming it whenever we see claimable gas?

Good Post , Thanks