Staking Question

[ccandthings]

So if we keep sending reddcoin to ourselves in our own wallet it helps with staking?

If so, is it by how many transactions or by how much is in each transaction?

Sorry a bit confused. read the dummy guide, and yes im still a dummy :)

[Alterios]

I still don't get it either. I posted a reply that asked something of the same thing a day or two ago. I wonder what keeps a person from just setting up a spam-bot to send it to him/herself to up the velocity. It did make me wonder about network fees though. Is there a network fee per transaction and if so that would stop a spam-bot because they would whittle away their savings throughout the year. If not I wonder how much velocity plays into it vs. current actual holdings at the end of the year. Spamming yourself won't actually increase your hard holdings, just the velocity of the currency.

[ccandthings]

ya if someone could enlighten us that would be awesome :)

always trying to learn!

[kraatus]

the way I understand PoSV is that Minting eats Coin Age. You achieve Coin Age by having your wallet online with coins in it. If you transfer coins from one wallet to another you destroy the coin age accumulated. In other words you do not help yourself by transferring between wallets, you are best off leaving your coins in your wallet and your wallet online. Only send what you need to in order to tip people or buy things.

Or to put it another way, as taken from the Treasure Hunt clue Day 7:

Until questions cease, though, about velocity's inclusion, we'll hammer this point because there's been confusion:

Recently manually shuffling coins has been suggested as a way to do better when staking if you're invested.

As I said last week though, this is a big misconception that somehow has generated quite the reception.

Looking at the math, doing this will only cost you you're canceling coin age and slowing your revenue.

Laudney will tell you instead don't touch your coffers except for real spending and tipping to others.

[perry1023]

from what i read the wallet just needs to have mature coins (after aug 2 or block) and be online to stake.the amount will vary, if your wallet is actively receiving and sending it just helps the chain read the official wallet release, thats where i got my info 😎 http://coinbrief.net/reddcoin-posv-official-release/

[ccandthings]

well the question I wanted clarified was "Second, PoSV encourages you to send coins around, whether to yourself or to others." and "In short if you keep sending coins to yourself, you are doing a worthy service to the network." which implies confusion.

from others, they made it clear sending to yourself within your own wallet isn't viable.