Looking for a tutorial on setting up your wallet for staking or looking to get more information on our built in coin control feature? Check out this page for more information
Hi golos community!
This tutorial will cover the coin feature of the Pinkcoin windows wallet and will show you how to properly start staking.
If you want to read more about the Pinkcoin and it's rewards/features please refer to the official THREAD.
Windows and Mac wallets can be downloaded from the official website while Linux version can be download from github.
Extract the wallet on your desktop using Winrar and Right click > Run As Administrator. (There's no need of any installation or anything). Wait for it to sync. Usually it takes 5-10 minutes to sync.
After it successfully synced, go to Settings > Encrypt Wallet type the passphrase you want and hit OK. After you hit OK wait for some time and the wallet will close itself, make sure you re-open it. NOTE Make sure you remember your passphrase because if you forgot you will lose all your coins!
To be able to start staking you need to unlock your wallet. If you hover the mouse over the arrow at the bottom right corner of the wallet you will see "Not staking because wallet is locked".
To unlock your wallet please go to Settings > Unlock your wallet and then type your passphrase that you set it earlier and make sure "For staking only" is checked.!
After we successfully unlocked our wallet and tick the option "For staking only" we need to make sure that our coins are mature. Now the question is how do I know if my coins are mature and when they will mature
If you have your coins stored on one of the exchanging websites such as Bittrex, Poloniex, Cryptopia or NovaExchange and you are sending to your desktop wallet if you hover the mouse over the gray arrow in the bottom right corner of the wallet you will see that says that you don't have mature coins. For coins to mature you need 101 confirmations or 8 hours before they can be used for staking.
Mined coins come in blocks of 50 coins. But when you buy them and send them to your wallet, they come in one big block of coins.When you stake, the whole block stakes. That's true if it's 50 coins or 500,000 coins. But if you have 500,000 broken up into 50 coin blocks, then when you stake, you don't lose all the weight you generated from your 500,000 coins, you only lose the weight from the coins you needed in order to generate the stake. But if your 500,000 coins are all in one big block, then when you stake, you'll lose all the weight you generated for that 500,000 coins, and they wont stake again until you build up that weight again. To prevent ourselves from losing all the weight that we built from staking we need to enable the coin features which will help us sort the issue and we will send the coins to ourselves into blocks of 1000's.
In the example I will show you with 4200 coins and how to split them into 4 blocks of 1000.
Click Settings > Options > Display > "Display coin control features (experts only!)" make sure this one is selected and hit OK.
After we enabled the coin feature, we need to go back to the Receive coins tab and copy our own address. After that we need to go the Send Coins tab and click on Inputs. In inputs you will see a bunch of columns. In this case as you can see we have 4200 coins and we want to split them into 4 stacks of 1000. So basically we need to select them and hit OK.
Now it will navigate us to the previous tab, the one that we came from. We need to have ticked SplitBlock and we will type 4 which means we split the 4200 coins into 4 blocks of 1000, (don't worry the rest 200 coins will find their own block). In the Pay To we paste our own address that we copied from earlier from Receive coins tab, and on the right side where it says After fee: we need to right click and hit Copy after fee and paste down below in the Amount. Basically we are sending the coins to ourselves.!
About Pinkcoin
People helping people to create a better world through microtipping and automated trading.
- Website: http://pinkcoin.ca
- Explorer: http://explorer.pinkarmy.ml
- Donate4Life: http://donate.with.pink
- CHAT: http://slack.with.pink/
- Pink Coin Announcement: https://bitcointalk.org/index.php?topic=1783421.0
- Forum : https://bitcointalk.org/index.php?topic=1874696.0
- Market: http://coinmarketcap.com/currencies/pinkcoin
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If you have any issues feel free to contact us : Please click HERE
Source: https://bitcointalk.org/index.php?topic=1889129.0
Thank you for reading.
Have a good day everybody I hope you are well liked.
Best regards,
