Starting From the Begin - SmartCash
It appears that in an eagerness to join #smartcash for "the masternodes craze" based on our posting or maybe enticed by the perceived promise of the #smartnodes, and our obvious passion many have failed to take advantage of
the major benefit of the information age - easily available information, access to read readily available information
Smartcash has a website: https://smartcash.cc/ On here there are links to every aspect of smartcash' ecosystem in details communicated in simple language. If having read everything you can you still have some question then in the top right hand corner of our site are links to our social media groups
SmartCash' website with links to all topics
If for some reason you are more fluent in another language, that is no problem we have got you covered. The #smartcash website is also available in many languages. If we have not translated to your language yet then this is a good time to get a translator added to your browser to translate to your desired language.
SmartCash website available in various languages
Now that we have shown you where to get accurate information in your desired language, it is time to go back to the begin.
Smartcash is NOT
- An ERC20 token.
- Not on another coins platform or blockchain - Smartcash has its own blockchain, explorer and ecosystem
- It is not a staking coin - all smartcash comes into being from the activities of the miners -POW mining
- Will not work with any other coins wallet
#Smartcash is a GPU mineable cryptocurrency, that is mined using the keccak algorithm. This means your ASIC miners for Bitcoins or Litecoins will not mine smartcash. To mine smartcash you will have to get the relevant miner and configure with the relevant values. More detailed mining information to get started in Get SmartCash menu on the site.
One of the main attractions for many including myself to smartcash is the smartrewards. You would think that seeing this is a major draw to smartcash everyone who has invested in smartcash especially one who has gone all the way to setting up a number of nodes will at least take time to understand the primary workings of smartrewards. Sadly this is not the case so I will break it down again.
SMARTREWARDS Important Facts
25th of every month - Why is this important?
- This is the date that determines what amount is used to calculate your smartrewards
- This is the date of the snapshot - You MUST have a minimum of 1000smarts to earn a smartreward payout
- 25th to 25th of the next month - This is the period in which you do not withdraw, or take out or move to another address to remain qualified for a smartreward payment
- 25th is the day all obedient smarties are rewarded with smartrewards and the next circle starts.
A simple definition of a withdrawal if it reduces the previous balance for a even a fraction of a second and is a record on the blockchain
To talk about amount I have to first of all check the understanding that there is no difference between Wallets and Addresses An address can be likened to an account which has its transaction recorded on the blockchain. A Wallet is a collection of addresses. This means your desktop wallet has about 1000 smartcash addresses ( I understand more can be generated if you used them all up. I have not tried that yet). Why is this relevant? SmartRewards are earned for holding at least 1000 smarts in a single address that you control the private keys
If you have bought smartcash at various times to build your holdings. There is a high probability you may have used different addresses.
Looking at your wallet balance you will see a large balance which you expect to qualify you for smartrewards only to be disappointed month in and month out now you are convinced it does not work or worse still its a scam
Take time to look at your transactions list, if your coins are fragmented across many addresses send all to one address or several ensuring each address qualifies -1000 smarts or more, then wait to see the compounding effect of #smartrewards.
There is an old saying You can not eat your cake and have it or a scientific Newton's law action and reaction are equal and opposite Both of these are true for qualifying for swart rewards.
- You can not withdraw from an qualified address without missing out on a cycle of smartrewards
- Action Withdrawal = Opposite reaction - NO SmartRewards
A lot of people who have failed to educate themselves throw tantrums, whine and curse when they find themselves on this side of the argument. You have seen me debate this point when I set up my first #smartnodes and more recently the last smartnode after the April's #smartreward's payments.
We may have all heard the saying "code is law" well the jury is still out on that, however with the rules around smartrewards that is the case. It is written into the code so unless the code changes your expectations for how it should work and forgive your errors would not cut it. No kicking and biting will help your case just wait for the next cycle and remember that anyone who would build a house must first count the cost.
Information is available out there ignorance is no excuse, while out there in the world you may have a lawyer plea your case here in the crypto space there is not always that option to recover from some errors. Get yourself educated on the basic of bitcoins, cryptocurrencies and blockchain understand it, a good resource I used was the 99bitcoin.com video series. If that is too technical for you go on YouTube and find one that suits you, there are even 6 year olds teaching about this!
Finally, if you do not understand it enough to communicate it to another person DO NOT INVEST, study until you do.
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