I've done some experimenting with staking. What that article leaves out, and a follow up will demonstrate, is that the current "weight" of the network (how many coins are online staking) plays extremely heavily into the formula for how many coins (and how much luck) you actually need to stake a block. Somewhere between 1,000 GRC and 2,000 GRC (or more) is needed to stake reliably AND frequently as a solo miner. Of course, being highly dependent on network weight, this fluctuates.
There is much less fear if you opt for the Pool. Pool mining comes with extremely minimal risk and shows a great history of regular payouts. That said, take note of a few items in your favor if you want to go solo.
You need time to stabilize your mag.
While your mag takes about thirty days to stabilize, it is calculated over a 14 day moving average which helps to determine your actual rewards.You have six months.
From the time you begin accumulating GRC to the moment you stake you have six months. It's like a moving conveyor belt that is only six months long. If you don't stake in six months, any coins 6 months+1 day fall off the belt and never actually existed.You have time for the exchanges to open.
We had some issues didn't we? It happens, this is beta software. Blockchain is hot, but it's also new so things happen. Anyway, we had some forking problems that appear to be past. As a result the few exchanges that carried Gridcoin stopped trading it for a time. Now that the forking seems to be past us, exchanges are dragging their feet to open up again. But I'm not worried for the long term, the people who are recognized by the exchanges have and are contacting them and trying to get things rolling again.We just finished development on The Gridcoin White Paper.
You should read the Proposal. And you should read the paper itself linked in the article. This White Paper is the first step to getting on many more exchanges.
The vote lasts until April 20, so if you can, get out there and vote on it. The vote requires at least 5% voting shares participation and we're not there yet. This means that even with full support, if there is not enough support, it will not pass. We need your help.
Hint: Check out the other Currently Active Polls!The current price of Gridcoin is vastly undervalued.
Last year we saw the value rise to .20 before dropping down during the crypto panic to a solid resting .10+ Right now, the difficulty with the exchanges due to the former network instability has IMHO temporarily lowered the value even more. I should expect long term gains in value, even more so when the exchanges open. When they do, I would expect two items.A. First, a mass sell from people who want out (but couldn't leave) this is likely to drive or at least keep the price low.
B. Second, once everything stabilizes we should see prices steadily, if not rapidly rise as the flood of sells dissipates and a restoration to normal trading volume occurs.
It is an exciting time to get into Gridcoin.
I have 4k GRC and I'm having a hard time staking lately which kinda sucks :(
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Hmm. In my second round of experiments, once I hit about 1500 I couldn't stop it from staking and had to work that into my calculations. Mind you, that's about every 4 or so days at this point.
Thats strange... I have 5.1k staking fulltime and it is staking every day or so.
Are you upto date on your wallet and have the latest snapshot?
Yes I am up to date so I'm not sure why. I was staking fine until the last update. Maybe I should reinstall it
I have three addresses which hold ~3k each and everyone of them stakes around every second day, so i can't complain.
I would like to add two things :
First, yes you have six months to stake and get the grc you are owed but you should stake way more often than this, because If you don’t, and one of the projects you’re working on gets delisted, you’ve lost it all!
Secondly I’m not sure I agree that there are many people waiting to sell when the exchanges will open, because I’ve been wanting to buy some grc on marketgrid for a while but no one seems interested to sell. Perhaps it’s because they want to sell only through exchanges and not escrow but still..
Thanks for the great article!
Both good points! Staking more frequently is best, but for folks who just want to go solo, I want to hold out some hope. Thanks for bringing good balance to that.
Where is GRC selling for $0.10+? Everything I've looked at puts it around $0.04-0.05.
It sold at that sort of price over the inflated Xmas period. I started buying back in Oct 17. In my view, it has always been a ~5pence (GBP pence, so ~ 7cents) coin at the moment. It's a real bargain down where it is right now. I've just doubled up on MANY coins, but especially GRC due to staking.
Yeah, I wrote that somewhat unclear didn't I. Sorry. I meant it rose to .20, dropped to .10 and held there, and then when our forking problem sprung up, it dropped further. 0.04 yesterday I think.
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