Gridcoin's new stake v8 kernel (in effect at block #1010000, in about 8h; info timeline since: Aug 18)
350 blocks (about 8h) until Gridcoin's PoS stake v8 kernel comes into effect,
- at block 1010000 (see Gridcoin version 3.6.0.2, which is a mandatory)
Important now is:
- to inform Gridcoin users about the upcoming <huge change (e.g. for less-rich "miners" in Gridcoin). Two chains will exist, at least>
- so they know about this and can still upgrade in advance to not land on the pre-v8-chain
September 1 (est.):
- at block 1010001: now the new Gridcoin version will accept v8 blocks
- at block 1010000: the stake v8 kernel now starts working in Gridcoin clients 3.6.0.2 (mandatory). If you use still an old client: your blocks will be rejected by the new clients and vice versa. Pre-v8 and v8's will make their own blockchains now.
- come to IRC (in browser) and type:
- !v8 (to see the countdown)
- !v8_prizes (to see the sponsors and their given GRC prizes)
August 31:
- there is now >2300 GRC in prizes: for staking as first a !v8 block (conditions apply, see more here)
August 26:
- new mandatory version 3.6.0.2 is released
- involves stake-v8 fix
- if you have 3.6.0.1 already installed: you SHOULD UPGRADE
- all others: also UPGRADE -> keep in mind it's a mandatory version
- Quantitative Analysis of Staking Times in Gridcoin V8 - Live at Block 1010000 with v3.6.0.2
August 25:
- comment by Tomáš Brod here
- figures by ravon here
- My Opinion About Stake Kernel v8
August 24:
- Why I'm very disappointed by the upcoming V8 removal of the magnitude component of the Gridcoin staking weight
- "If you are a solo miner with a low balance, you will never stake and therefore never be paid out for your research. If you do not stake research within six months of completing it, payment is lost. Currently you will need about 165k GRC to stake daily, 24k to stake weekly, and 1k GRC to stake every 6 months in the V8 system."
- "To put this in perspective, I am currently the biggest Gridcoin miner short of the pools. This change will see my stake frequency go from 15 blocks per day, down to one block every 5 days, on a balance of roughly 40k GRC."
- see also comment here
August 22:
- Gridcoin: PoS kernel v8 (in effect in 9 days)
- summarizing from IRC
- version 3.6.0.1 is released
- see comments section also
August 19:
- upcoming changes in Gridcoin (e.g. effects on less rich users; fixes on (known) exploits)
- "Thus, it seems, one of the recommendations for less rich BOINCers appears to be to stay in a Gridcoin pool"
August 18:
unfortunately, this did NOT end well :-(
I might add as a caveat that those numbers are estimates, as pointed out in the comments on the linked article. While they are fair ballparks, a 20% give or take would not surprise me. We won't know for sure until block 1010000...
@Scalextrix also mentioned I should clarify that when I said:
that is a rolling loss. As in, if the individual unit of research was done 6 months ago, it is lost. Not your entire research to date.
Well one thing is for certain, as a small researcher with a small amount of Gridcoins in the wallet it for sure is the best thing to get into or stay in the pool. You wont have any problems getting your rewards there, at least none that i could think of.
Nailed it. The big change is that instead of just small researchers with a small amount of GRC, now all researchers with a small amount of GRC should join or stay in the pool.
absolutely correct sadly no one can exactly predict what small amount of GRC means in numbers...
but this is a thing that for sure will get clearer once we are on v8
see also comments here
Disclaimer: I am just a bot trying to be helpful.
I think it is more important being able to solo stake than being able to solo mine. Pool mining it is not the ideal but it is not that bad either. Pool staking is a complete madness. Furthermore, Proof of Work is working nice, but some Gridcoin users concerned about only a small percentage of current GRC staking.
Now that pool mining is more necessary it is more important to have an open-source pool.
Do a little research on this. The pool is open source. Though not easy to get a copy installed and running. It's fairly new and not finished. It needs some time.
Oh, I see, thanks for the info. Anyway I won't consider the pool is complete until all the requirements for claiming the bounty are met.
Hi Erkan!
I've been trying to run a gridcoin staking + mining on a raspberry pi. I at least want to get the staking working first...although I have a lot of the BOINC stuff setup I think.
When I do a
it reads out
What does the staking: false mean? Is it not staking? Also am I safe to upgrade to 3.6.0.2 right away? Or do I need to wait until the fork?
Correct, normally via the UI you have to unlock your wallet for staking.
Also, you'd need balance so it can start staking (the !PoS part; since you didn't set it up with BOINC: no !PoR reward would be generated). And ofc, being synced with the blockchain, currently we are at block: 1004302
Nothing is safe in this world, but yes, it's better to upgrade now
Best is come to IRC
Thanks Erkan... I'll do that later in the week when I get home. I don't have a UI, was setting it up on raspberry pi with Debian. Anyway, I appreciate the help.
find the timeline after Sep. 1 here: