Saturday, January 20, 2018
What is Coin Control ?
http://pos-monkey.com/what-is-coin-control/
Alright Staking fellas, in this tutorial i am going to explain the “Coin Control” feature and the benefits of it to you.
As you learned in the How to Start tutorial Proof of Stake coins and their rewards are in almost every case related to the size of your coins.
Let me give you an easy example here with my favourite 808coin:
You bought 440.000 808coin, transfered them to your wallet, let them mature and stake after lets say 8 to 11 days. You received a reward something like 90.000 coins. Afterwards your “new” stake is automaticaly splited into 2 stakes containing 50% of the new total value you gained. So now you start staking 2 blocks of roundabout 266.000 coins. Almost all PoS Coins act like this. So after you receive a stake your total amount of coins is splitted. Then you got two “smaller” stakes, which will then of course take longer to hit the block when its time to earn the rewards.
Please see this example screenshots from my wallet for easier understanding:
As you can see here I transfered 122.000 coins and 440.000 coins to my wallet. Both hit rewards several times so far. To be exact:
The 122.000 hit a 28.000 reward and were then splitted into two parts of 50% each -> about 75.000. Those two hit a new stake of 16.000 ( 3 days faster ) and 21.000 splitting my 75.000 blocks into 4 blocks of each about 45.000. They are actualy staking as you can see on the next screenshot. Also my 440.000 coins hit a reward of 93.000 coins. And guess what, they are now splitted into 2 Blocks of each 266.000 coins (see next screenshot).
As you can see here I started with 2 transfers (122.000 & 440.00 coins) bringing me now 6 minting blocks taking already way longer then the expected 8 days. The reason for this is pretty easy.
So what shall we do against it? Blocks keep splitting up every week and at some day you will have to stake with 500 coins and wait for weeks.
Now our nice feature “Coin Control” is coming into the game!
You have to enable the “Coin Control” feature at “Settings”. After you enabled the coin control please navigate to your “Send Coins” Tab. There shall now appear a button called “Input”, please open this.
Here you can now see an overview about the coins you have and the several blocks they contain of. 808 is pretty cool, because u basicaly have the coin control feature enabled at minting. Minting always shows you the several blocks that stake. But coins like EMBER, WOMEN, IFLT, KOI and many more wont show you a minting tab. Whenever you receive stakes open the coincontrol feature to doublecheck if your coins are splitted into tiny blocks. If your blocks were splitte several times you have to rearrange them to 1 big block, because as we know already, one big block stakes way faster ( we talk about days til weeks here… ).
When you want to combine a block you have to follow these steps:
Select list mode and there you will have all your coins and now if you want to combine them all into 1 block you just check all the boxes and then click ok. Once done you’ll see Amount fee etc… copy the amount and paste it into the amount box under Label then put in your coin address and click send. Don’t forget about the fee though and you should then have all your coins combined in 1 block. After you resend the coins they have to mature again, but its still better then wasting time on waiting weeks for a rewards.
I really hope this tutorial helped some of you guys to improove their staking results,
cheers !
Alright Staking fellas, in this tutorial i am going to explain the “Coin Control” feature and the benefits of it to you.
As you learned in the How to Start tutorial Proof of Stake coins and their rewards are in almost every case related to the size of your coins.
Let me give you an easy example here with my favourite 808coin:
You bought 440.000 808coin, transfered them to your wallet, let them mature and stake after lets say 8 to 11 days. You received a reward something like 90.000 coins. Afterwards your “new” stake is automaticaly splited into 2 stakes containing 50% of the new total value you gained. So now you start staking 2 blocks of roundabout 266.000 coins. Almost all PoS Coins act like this. So after you receive a stake your total amount of coins is splitted. Then you got two “smaller” stakes, which will then of course take longer to hit the block when its time to earn the rewards.
Please see this example screenshots from my wallet for easier understanding:
As you can see here I transfered 122.000 coins and 440.000 coins to my wallet. Both hit rewards several times so far. To be exact:
The 122.000 hit a 28.000 reward and were then splitted into two parts of 50% each -> about 75.000. Those two hit a new stake of 16.000 ( 3 days faster ) and 21.000 splitting my 75.000 blocks into 4 blocks of each about 45.000. They are actualy staking as you can see on the next screenshot. Also my 440.000 coins hit a reward of 93.000 coins. And guess what, they are now splitted into 2 Blocks of each 266.000 coins (see next screenshot).
As you can see here I started with 2 transfers (122.000 & 440.00 coins) bringing me now 6 minting blocks taking already way longer then the expected 8 days. The reason for this is pretty easy.
The larger the blocks the faster they hit a stake!That is the most important rule for PoS coins!
So what shall we do against it? Blocks keep splitting up every week and at some day you will have to stake with 500 coins and wait for weeks.
Now our nice feature “Coin Control” is coming into the game!
You have to enable the “Coin Control” feature at “Settings”. After you enabled the coin control please navigate to your “Send Coins” Tab. There shall now appear a button called “Input”, please open this.
Here you can now see an overview about the coins you have and the several blocks they contain of. 808 is pretty cool, because u basicaly have the coin control feature enabled at minting. Minting always shows you the several blocks that stake. But coins like EMBER, WOMEN, IFLT, KOI and many more wont show you a minting tab. Whenever you receive stakes open the coincontrol feature to doublecheck if your coins are splitted into tiny blocks. If your blocks were splitte several times you have to rearrange them to 1 big block, because as we know already, one big block stakes way faster ( we talk about days til weeks here… ).
When you want to combine a block you have to follow these steps:
Select list mode and there you will have all your coins and now if you want to combine them all into 1 block you just check all the boxes and then click ok. Once done you’ll see Amount fee etc… copy the amount and paste it into the amount box under Label then put in your coin address and click send. Don’t forget about the fee though and you should then have all your coins combined in 1 block. After you resend the coins they have to mature again, but its still better then wasting time on waiting weeks for a rewards.
I really hope this tutorial helped some of you guys to improove their staking results,
cheers !
Using the Coin Control Feature of Your GUI Qt Walle
http://cryptomining-blog.com/7778-using-the-coin-control-feature-of-your-gui-qt-wallet/
Using the Coin Control Feature of Your GUI Qt Wallet 23 Apr
Taking advantage of the Coin Control feature is something considered a
bit more advanced, especially if you don’t have built-in support in the
specific crypto currency’s GUI Qt wallet and have to use the console.
But Bitcoin and many of the more recent altcoins or ones with updated
wallets do have built-in support making things easy to use the coin
control feature right from the GUI. By default the feature is not
enabled, so you will have to go to Settings / Options / Display and
enable the coin control feature to be displayed. After that when you go
to the Send coins panel of your coin wallet you will see a button to
call the Coin Control feature, but what is this feature and why do you
need to use it in the first place?
The coin control feature allows you to control how you spend the
coins in your wallet when sending a transaction. You can choose what
addresses will be the ones sending the coins and which of the coins you
have received will be used. With this feature you can do things like
combine multiple transactions and the coins from them that you have
received in a single large sum of coins available to one of you wallet
addresses. To do that you can just select which coins and the address
you want them sent to and use on of your own wallet addresses, so you
will actually be sending yourself the coins. Sending yourself coins
would require you to pay a network transaction fee, but by consolidating
multiple small amounts of coins into single ones you can actually
reduce on further transaction costs.
The coin control feature however is more important for PoS (Proof of
Stake) coins and altcoins that do have some other forms of awarding
users with extra coins for holding some amount in their wallets.
Consolidating the coins in your wallet will mean that they will
available for stating altogether giving you bigger weight on the
staking, so you should be able to save on time when staking coins. If a
coin is rewarding you for keeping your coins in the wallet for some
time, but there is a maximum time they need to stay in the wallet
without moving you can use the coin control feature to see when you need
to resend some of the coins back to your own wallet in order to keep
getting rewards. So depending on the specific coin taking advantage of
the coin control feature might help you maximize your PoS earnings, get
more rewards or execute transactions with the coins you want from the
address you want them to be sent. If you still haven’t used that feature
you might want to give it a try and see how easy it is to use it
especially if it is already available in your GUI qt wallet and you just
need to enable it and not having to run console commands.
Using the Coin Control Feature of Your GUI Qt Wallet 23 Apr
2016
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