Gridcoin Staking - 3360 GRC is not enough
A while ago somebody mentioned that 2000 GRC wold be enough for staking
More than a week ago I bought GRC and currently have 3360 and it's not enough got staking, as you can see from the image.
Usually it shows 1-4 days, sometimes shows hours.
During this week my laptop was online most of time.
But I'll be buying more GRC so I think in some times when I add 1000 or 2000 more of GRC it should be enough for staking.
One thing to note is that even if you only stake once every week or so, the payouts are almost exactly the same as if you staked twice during that period.
If you go to the block explorer at gridcoinstats and look up your CPID and you will find that it lists your accrual of interest and research.
Whenever you do stake, these amounts will be paid out and reset.
That said, I think the Gridcoin community is great and growing, so picking up a few more coins can't hurt!
dcj
Thanks for the useful info! However I don't have CPID (or at least I don't know it) so I'll just keep wallet running as much as possible.
Have you sent a beacon?
No, I don't know what it is
Ok. So once you have set up BOINC, the projects should assign you a CPID,
from the guide:
--BOINC stats take time to propagate, if you've been contributing towards BONIC for less than 24 hours then you should wait until the next day before proceeding (continue computing BOINC work units!).
--Verify your BOINC projects do not have split CPIDs (multiple cpids).
--Verify that you're a member of team Gridcoin for all projects.
--Did you install BOINC to a non-default location? You'll need to specify this location in the gridcoinresearch.conf file.
Then you need to send a beacon:
One should also remember that staking is a random process. The '3 days' shown in the wallet is supposed to be close to the average time to stake. On the other hand, fluctuations around the average could be non-negligible. A rough estimate of the variation for your case would be on the order of days. So there is a small chance it would take in excess of a week.
Also depends on other variables, like total network weight and difficulty. Hard to predict. Getting more coins isn't a terrible idea if the uncertainty bothers you (i.e. not being sure everything is configured correctly if it's taking longer than expected .. although in your case everything looks fine).
Yes, I'll be getting more coins, but not only because of staking. I think GRC will grow in the longterm, and also I plan to use Gridcoins to make/receive payments.
I think need for this also will raise as more people will be using Gridcoin
True. Those are all great reasons. I have a small investment myself.
I have around 2500 in my staking wallet and I manage to stake maybe not once a week but at least every 2 weeks.
Then may be I'll also get something this month. Sometimes it says "estimated time 1 days"(like right now), one time even it was written "estimated time 52 minutes" but then it might change to 4 days again
the difficulty of the network changes over time and so does your estimation. Let's say net weight is at 8 million, it would take 17250 coins to stake within a week (statistically guaranteed) at 2 million it would take about 4500 grc.
You know, it would be great idea to create "Stake calculator" or something like that)
Be patient. Sometimes you will stake twice in one week and sometimes once in two weeks (as an example). It will all average out.
Yes, I'm patient, I kept wallet online even when I had 100 GRC, because that's helps the system
I minted with around 800grc in a month and a half. Patience and keeping your wallet online is essential with a low balance.
Yes, I'm patient enough, just wanted to share my experience. Thanks everyone for sharing their experience!
It is a thing that needs to be corrected in the future, I feel like coin weight depreciation could be a potential fix, Coin stake weight becomes increasingly harder to get the more coins you have, Coin age weight should remain the same a linear increase. this way having more grc will let you stake more but it prevents extreamly large holders from staking nearly all the blocks.
With only 960 blocks a day its only going to get harder and harder.
Alternatively the minimum stake cooldown gets increased from 16hours.
Yes, I knew it will get harder (like it goes harder with mining or staking in other cryptos), thanks for sharing some data
That is not my experience. I started staking every three days with 1000. Granted as my holdings increased, so did my stake rate. But the whole network fluctuates depending on who is online.
May be it was long time ago?
You may be hitting limit on smallest mint.
Sorry, what do you mean by this?)
you seem to have a capable computer, why don't you get a CPID and work? there are a ton of interesting problems you can solve.
On this laptop I'm working, but I'm running BOINC on 2 other laptops (they are less powerful, but still it's better to put them in use)
In that case, get a CPID to your wallet. You do not have to crunch on your work laptop, just have one of the projects attached.
You are missing whet you could be earning.
convert INVESTOR wallet to CPID wallet
As I understand this is not accurate: You have to install BOINC on your laptop with the GRIDCOIN WALLET installed and attach to all Projects you are crunching, so all Projects will be recognized by GRIDCOIN.
Thanks, I have this laptop attached to Boinc, but I was running Boinc on it only in the beginning. I will add all the projects to it, will see if this helps.
So I installed Boinc, selected all the projects which I ever used for this laptop, synchronized with Grcpool. But this didn' add magnitude in grcpool (it would if I would run Boinc on this laptop), and in the wallet (I restarted it) it is still written Investor for Project and CPID
You will not be able to get the magnitude you had on grcpool, since it's not your CPID.
You can however, sign up to projects with your own details and receive your own CPID. Then you can receive the research rewards directly under your name.
To get rewarded for all your projects you need to run the wallet + Boinc with all attached projects that you want to receive rewards for. These projects can be idle on your machine, as long as it fetches the stats.
Then you run Boinc on as many machines as you like under your own CPID.
Thanks a lot for explanation! However on the Mac where I have wallet open I can't run Boinc as it is harder to work with it. So I'll just keep the things as they are going now.
You do not have to RUN it there. I myself would not run boinc on macbook. You just have to have installed and attached there (no new tasks).
Thanks, will try this
You need to pump those numbers up rookie!