Questions that keep buzzing in my head about GridCoin Staking
*****EDIT: 20 hours after the post my initial query was answered! Follow the comments if you are interested*****
I was reading a reddit post of a new user trying to solo stake and the dificulties he is facing in doing so.
After some comments about user test1235 I've made some diging on gridcoinstats only to discover that in 2018 user test1235 has staked 421,506 GRC and the number is rising.
The user has 36,323,492 GRC ($1,418,780) in his wallet under various addresses.
That brings out a total 421,506 GRC staked for 2018 (January till March 18th)
I said wow this guy does have a good foothold in the GridCoin ecosystem (a little shy of 10% of all the GridCoins minted).
Until I looked a little closer to the earliest transactions that created this huge sum.
What I found is that large sums of GridCoins where originated from an addressed labeled "Burn Address for Beacons & Polls" (https://gridcoinstats.eu/address/S67nL4vELWwdDVzjgtEP4MxryarTZ9a8GB)
My question is should the GRC from beacons and polls be used to stake in the system? (after all we're not talking about petty change here ($1,4 million in the current GRC-$ Market) and the number is rising).
And if yes do these founds return to the GRC ecosystem somehow or they are kept privately.
After all every guide for solo staking suggest that you need to have a good ammount of GRC (1000-2000) to stake that can either be earned through a pool or bought with another currency...
Thank you for your time.
What is the transaction ID(s) showing funds moving from S67nL4vELWwdDVzjgtEP4MxryarTZ9a8GB to one of the addresses in Test 1235s wallet?
@kkazantz this is important = )
I know that's why I brought the whole subject up, I have nothing personal with any researcher or investor and I'm not affiliated with anyone or anything. I just want to know.
=======================================================================================
This post was upvoted by Steemgridcoin with the aim of promoting discussions surrounding Gridcoin and science.
This service is free. You can learn more on how to help here.
Have a nice day. :)
The old coins from Gridcoin classic were exchanged to the new Gridcoin a few years ago. Maybe this is the explanation for this transaction.
Correct, that's what the burn address is; the conversion from classic to research.
I'm talking out of my ass but I believe it may be the fundation wallet used to pay for the devs compensation and what not?
IT might be, but shouldn't this be clarified in order to know, after all besides the volunteering nature of the Boinc reasearchers there is a real monetary value behind GRC and people (including my self) have or are considering investing a sum of currency in order to start staking.
This person barely staked in October/Nov. This is likely owed interest.
Thank you for clearing up the conversion address from classic to research and the staking issue, as I've mentioned in previous comment and in the post I need some clarification on the issue and not stir up any controversy.
If you look at 2016, they never staked in Nov/Dec (and July IIRC), which would carry over into 2017.
I'm not near a PC right now, but if you have the chance I would suggest averaging the daily earned over a 36 month period. I would expect it to average out to (I think?) ~1k a day.
I've made the relevant excel sheet for 2016 as well so we have:
So when I combine them I get
That is very close to the Gridcoin stats estimate for the wallet's GRC daily interest owed.
Thank you all things cleared! :)
Another discovery put out in the open , I would advise you not to point out either security vulnerability or sketchy CPID's/wallet actions and transactions you will be banned/shunned/muted and remove from the community trust me check freenode #gridcoin and @dopeshit.net being banned since I love to point out and rant ( comment and converse ) about things just like this and I have pointed out wallets like this and even if and its not the foundation as its gridcoin.us for the user name not test1234 and there are 100s of wallets with over $1,000,000 usd let alone over $100,000 in GRC even at this all time low record value we sit at now , imagine when Gridcoin is/was actually worth something before $30/$60hr hire a hacker happened for the 4th of July. There are tricks too , make new addresses and send yourself large sums of GRC to stake more often you don't actually need multiple gridcoinresear e projects like yoyo@home stopped sending Android work units. You have to be a whale or trust fund kiddie and spend lots of real cash or hack'n'hire and become part of the dev team and get paid part of that $48,000USD in 6 months that has been paid out . Do you want a new car? Or a 3 bedroom 2 bath house in a nice neighborhood with a 2 car garage on a decent plot of land in Tempe Arizona? Hell you will even have cash left to buy a nice media center 80"+ SHDTV or UHDTV and furnish it into a very nice home with that amount. Or you can drop cash money on the table and get a nice car. There is a reason the value is tanking and the leadership better change or wise up and think about their ethics... I love that everybody is noticing the shady backroom crap we cant see in the priv dev chan on Slack but they are killing Gridcoin out of greed. I advise you to STFU or you will end up like me posting on comments on steemit to point out this crap and I love that you and others have within the last week have noticed and posted what you see that is shady. Unfortunately things won't change unless we make them change and I stand right there with you and the others whom are standing up for the rest of us.
Jesus christ dude, calm down. No wonder you were banned.
Start by trying to convey your message properly. I would need to read this text a million times, probably rewrite it, to even understand all that you are saying. Paragraphs, proper spelling, proper punctuation etc. Does not have to be flawless, I can't write flawless either (not even close).
Then consider what you are accusing people of, and maybe you can understand why people do not like you. There is a certain way your message comes across, and it's not a nice way. Like how this poster formatted his question. He noticed something, he asks about it. Does it all in a civilised manner. Not that difficult right?
Gridcoin is not perfect, but we are a coin that stands and works for something. This is not just another Litecoin fork. With that come bugs and issues, those are things we will have to live with and work on.
See where I am coming from?
Thanks for your lengthy reply, First an foremost I was a BOINCER and I remain a BOINCER, I have nothing personal with any researcher or investor and I'm not affiliated with anyone or anything. I just want to know because I was seriously considering to drop some hard earned money into Gridcoin when the markets where to open again, but now I just don't know...
A year's worth of interest at 1.5%, on 36m coins, is 540k. So, why have these coins already earned 421k in ~11 weeks? Seems on-track to earn ~2m in interest over the course of a year, or 5.5%. What am I missing here?
probably owed interest?
These are the 2017 transactions for test1235
maybe someone in the know will explain to us, I have the same questions as you.
Congratulations @kkazantz! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP