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Skycoin coin hours explained
#21
I get it now. <--still dosen't get it.
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#22
(01-15-2018, 06:47 AM)skyfish Wrote: I get it now. <--still dosen't get it.

LMAO!!! Big Grin

Yeah, I'm still a newbie to this and little by little I AM understanding this more and more each and every day. It can be complex, but it's SO AMAZING how intricate technology & cryptocurrency can become. 

We are doing things that I never even imagined!!!
Abundance is the receiving power of your mind...So, let us create & receive the future that we ALL DESERVE!
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#23
(12-14-2017, 05:44 PM)skyguy Wrote: Compliments BleuDreamZzZz from Reddit

So what are CoinHours and how did they get into your #Skycoin wallet?
Coinhours are earned by holding Skycoin in your Skycoin wallet! It's like mining or staking, except you do not need to leave the wallet open to earn the hours! Just send and forget! See here for transferring skycoins from cryptopia to your skycoin wallet

Holding 1 coin for 1 hour generates 1 coin hour. Always. Therefore; holding 1000 coins for 1 hour generates 1000 coin hours. The new wallet (version 20) now shows the “CoinHours”, which users earn for holding Skycoin. We are working on an exchange for converting and establishing an exchange rate between CoinHours and Skycoin. Coin Hours are similar to the “Gas” in Ethereum or coin aging in Bitcoin, but are exchange-tradeable and are a separate parallel currency in Skycoin.

Coin Hours are used for transaction fees in Skycoin and will also be used for network resources on Skywire. Coin Hours may eventually also be used for allocation of distributed computation resources, storage or bandwidth on SkyLedger and any Skycoin side changes with embedded CX scripting language.

The future wallet versions will add an API and UI to specify or split the CoinHour balances in transactions. If Skycoins are held on an exchange, the coin hours earned will go to the exchange. Skycoin CoinHours are also a very important part of the Skycoin CoinJoin infrastructure for increasing transaction privacy. CoinHours will be posted as collateral for mixing to prevent participants from backing out of or slowing down CoinJoin transactions. Skycoin CoinJoin transactions improve the mathematical guarantee of Skycoin transaction privacy by spending outputs from multiple wallets in the same transaction. This prevents the most common deanonymizing attacks in Bitcoin. When fully implemented, this will give Skycoin a ZeroCoin-level mathematical guarantee of transaction privacy, with orders of magnitude less complexity and computation overhead than the ZeroCoin implementation, by eliminating the requirement of the highly complicated zero-knowledge proof system.

How many skyhours is one to expect to spend when sending 1 skycoin? I had 26399 hours and I sent 1 skycoin and the skyhours are sitting at a balance of 3621 now!?
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#24
(01-16-2018, 09:50 PM)capitanevropa Wrote:
(12-14-2017, 05:44 PM)skyguy Wrote: ...

How many skyhours is one to expect to spend when sending 1 skycoin? I had 26399 hours and I sent 1 skycoin and the skyhours are sitting at a balance of 3621 now!?


That can't be right, do you have a screencap?
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#25
(12-14-2017, 05:44 PM)skyguy Wrote: The future wallet versions will add an API and UI to specify or split the CoinHour balances in transactions. If Skycoins are held on an exchange, the coin hours earned will go to the exchange. Skycoin CoinHours are also a very important part of the Skycoin CoinJoin infrastructure for increasing transaction privacy. CoinHours will be posted as collateral for mixing to prevent participants from backing out of or slowing down CoinJoin transactions. Skycoin CoinJoin transactions improve the mathematical guarantee of Skycoin transaction privacy by spending outputs from multiple wallets in the same transaction. This prevents the most common deanonymizing attacks in Bitcoin. When fully implemented, this will give Skycoin a ZeroCoin-level mathematical guarantee of transaction privacy, with orders of magnitude less complexity and computation overhead than the ZeroCoin implementation, by eliminating the requirement of the highly complicated zero-knowledge proof system.

I assume Coin Hour balances will be listed in the Explorer at some point.  Anyone have confirmation of that?
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#26
(01-17-2018, 03:11 PM)ailo Wrote:
(01-16-2018, 09:50 PM)capitanevropa Wrote:
(12-14-2017, 05:44 PM)skyguy Wrote: ...

How many skyhours is one to expect to spend when sending 1 skycoin? I had 26399 hours and I sent 1 skycoin and the skyhours are sitting at a balance of 3621 now!?


That can't be right, do you have a screencap?

Yep, tried again
[Image: 3try.png]

[Image: 4th.png]
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#27
(01-18-2018, 04:22 PM)capitanevropa Wrote:
(01-17-2018, 03:11 PM)ailo Wrote:
(01-16-2018, 09:50 PM)capitanevropa Wrote:
(12-14-2017, 05:44 PM)skyguy Wrote: ...

How many skyhours is one to expect to spend when sending 1 skycoin? I had 26399 hours and I sent 1 skycoin and the skyhours are sitting at a balance of 3621 now!?


That can't be right, do you have a screencap?

Yep, tried again
[Image: 3try.png]

[Image: 4th.png]

Don't transfer coins if you want to keep your coin hours. The majority of them are burned when you make a transaction (transfer)
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#28
coinjoin sounds great! so this is basically like tumbling your coins through a tumbing/mixing site? will this be default on all transactions? the coin hours sound exactly like neo and gas. if youre running a skyminer , do you get paid in skycoin or skycoin hours?
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#29
(01-06-2018, 10:58 PM)Nclark Wrote: I have 27 skycoin and have currently earned 38,757 coin hours and counting. I love accruing value while at rest! Another huge incentive to hold onto these priceless babies. I just wish that Cryptopia didn't make me pay 2 skycoins for my two separate withdrawals. Oh well. Hopefully I will earn them back in time. Smile  Love this feature of the wallet. Keep up the great work!

Cryptopia charged 0 fees for me today.
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#30
(01-09-2018, 04:59 AM)Anonymous star traveller Wrote:
(01-08-2018, 11:34 PM)Knave9 Wrote:
(01-08-2018, 11:25 PM)Anonymous star traveller Wrote:
(01-08-2018, 09:29 PM)Knave9 Wrote:
(01-08-2018, 08:17 AM)Anonymous star traveller Wrote: Will SKYCOIN hours have a greater value than spaco hours?

As sigre says, it'll be pure speculation.

So yes, easily worth $1.4billion each  Big Grin Cool

Are you like 14 years old? ?

37 mate. Just having fun. You're asking people  on a forum a question no one can answer. 

Chill my friend. We're all friends here.
Didn't mean to sound like a Dick sorry bud...the telegram chatter gets me irritable when people talk shit LoL
Hip-Hip-Hooray!, somebody agrees with me about the UTTER LOAD OF CRAP on Telegram: only 1% or less info on Tele is useable, like a neverending soapie, just worse....
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