Newbie Stake Loss Compensation Phase 3 Data

in #gridcoin5 years ago (edited)

Newbie Stake Loss Compensation Phase 3 Data 

The previous Newbie Stake Loss Compensation Phase 2 Data post can be found:


Phase three of the newbie compensation details are here. This is from block 1.124 million to 1.144 Million. ~90 CPIDs are in this batch. During this block range the newbie boost which helped new users stake faster was removed making it take longer to stake newbie blocks.

Compensation will take place on or about Tuesday at 12am UTC
Below is the Q and A section from the previous Phase 1 and 2 posts:

Q) Do I have to do anything?

A) No, if you find your CPID in the list and still maintain the GRC Address associated to the CPID then there is nothing for you to do.

Q) I have a different CPID now but still have my old GRC Address in my wallet.

A) Excellent, there is nothing for you to do. Based on the fact that you no longer have the CPID anymore but still maintain ownership of the GRC Address involved, you will be paid out to the (old) associated GRC Address.

Q) I have the same CPID but don't have my old GRC Address anymore.

A) The fact you own the same CPID still keeps your foot in the door with the compensation if you still have an active beacon contract. Simply contact me and mention your CPID and I will pull the GRC Address from the network that is tied to the CPID in question.

Q) I have the CPID in question on an old account I don't use anymore.

A) Unfortunately, not much that can be done here unless your CPID has an active beacon in the neural network.

Q) I don't have the same CPID nor do I have my old GRC Address anymore.

A) Unfortunately, there is no way to prove ownership of the GRC Address or CPID and the compensation will be paid out to GRC Address that was used for the newbie stake. Essentially the coins are burned and non-recoverable.

Q) Will you post the data of the losses?

A) Yes. Much like the Pentathlon rain you will expect to see the results posted with TXIDs associated to the payouts.

Q) I see a duplicate CPID. How can someone have more than one newbie block?

A) This is possible; however very rare. I have taken a look at these and determined that even after my calculations the amount owed is still correct and this has no effect on what is owed.

Q) How will I know if an unknown transaction that I received is in fact the newbie compensation?

A) You can view the released newbie stake loss data. Look up your CPID/GRC Address and see the amount.

Q) My question is not answered here or I don't understand the answer.

A) Feel free to contact me on Slack or via the email address below.

Q) What is the foundation/foundation expense?

A) The foundation is a wallet that holds around 32 million Gridcoins. It is used for various purposes such as developer payments and expenses. The foundation does not pay out before work is completed. A foundation expense must be put forth once a task is done or complete to receive the amount used for the expense back. Much like advertising campaigns for Gridcoin where the users pay out of there own wallet and put up an expense to be compensated by that said amount.

New Phase 3 stats :

Feel free to contact me if you have any questions relating to the data.

Concerns or questions?

Don't worry I'm available on slack and via email eastendmumbles at

Document compiled and edited by @barton26


You just planted 1.29 tree(s)!

Thanks to @barton26

We have planted already 6789.51 trees
out of 1,000,000

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Plant trees with @treeplanter and get paid for it!
My Steem Power = 18407.01
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku

I'd like to thank everyone involved for realizing this bug and a having a system to rectify. I must admit that it was a letdown when that 1GRC posted after nearly 2 months of running after sending the beacon. I do want to ask if this is capped at 499GRC as I see that as the maximum awarded in the list? Also, I did notice that the "BoincRewardPending" in the wallet (getmininginfo) had stopped at 500 for a few weeks before I finally staked.
Thanks in advance for your help!

Capped at 500 because you have no previous stake block and if you purposely waited a long time you cud potentially exploit it by renting a ton of machines for a short period and use the current magnitude then. Newbie stake uses current magnitude at stake. Yes its not greatest for new users who have to wait a long time to stakr due to balance but it protects the network. Thank u for your understanding

Thanks for the clarification and I appreciate your quick response. I am happy that there are these safeguards for the coin. And for my newbie case, I think the difference may have been only a few hundred coins at most.

I have not forgotten about rain. I been buried in assessing and testing the recent bug issues and also the stability issues. Bare with

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