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Who wants to Learn about Cryptocurrencies First Hand?

ChrisBFRPKY

Illuminator
Joined
Jun 14, 2012
Messages
4,449
I know a lot of people have a passing interest in crypto these days. As skeptics it's completely normal to be wary and ask questions. I've noticed that some people are also a bit uneducated about cryptocurrency because of this though. They tend to not dive into something they don't understand and that's not a bad thing. Crypto can be rewarding but it can also lead to losses, even in failure everyone should learn something. There are some basic experiences everyone should understand about cryptocurrency and that's what this thread will attempt to do.

This thread is an opportunity to learn how crypto works first hand. For those that wish to participate you will learn how to:

1. Download and Install a wallet.
2. How to mine new coins with your wallet.
3. How to stake coins with your new wallet.
4. Receive a deposit of free coins to get you started.


The coin we will be using during this experiment is currently an uncertain project. It's called ROIcoin. The project was sound and start up was some time in 2018 I think. You can learn more about it by doing a Google search for: "ROIcoin Bitcointalk ANN" Evidently one of the devs went rogue in 2020 and created quite a set back for the project. (Unfortunately, one of the dangers of investing in a brand new project.)

The coin has a working wallet. It allows you to stake and mine both from the wallet. It's a cpu mined coin so there's no need for anything exotic other than the computer you normally use.

For those that wish to play with ROIcoin as a learning adventure, over the next week, I will deposit up to 100,000 coins to your address once you've downloaded the wallet and learn how to create a deposit address. (depending on the amount of takers of course I may have to scale back on the amount of free coins as I intend to keep a few million for myself in the event of further project developments) I mined this coin with a cpu farm for two years, and up until the dev went rogue I was in the top 10 rich list.

Now, I realize some naysayers may be thinking "Ha! I knew crypto was a scam!" and some projects are. But let me share a story with you about another coin. There was a coin called "Dark coin" I mined in 2014 and I mined a lot of it. Like this project, that one went south for a bit but was later rebranded as "DASH". In 2017/18 DASH reached $1200+. My "Dark coin" transferred easily into my new DASH wallet as DASH.

It is possible that I could be giving away millions of dollars during this exercise if ROIcoin gets a second wind like Dark coin did. I hope I do and I hope it does for everyone willing to learn.

I'm not going to provide any links. I provided the Google search terms above and that should be all you need to get started. Good luck.
 
Are you sure you don't want to use my bank details to temporarily hide billions from the Nigerian government and you will pay me for that, Your Highness?

Nope, I'm offering to give you free crypto and with it the opportunity to learn about cryptocurrency in general with no strings. You can accept it or not. If you think I'm joking, try me. Shoot me an ROIcoin wallet payment address.
 
For those that wish to play with ROIcoin as a learning adventure, over the next week, I will deposit up to 100,000 coins to your address once you've downloaded the wallet and learn how to create a deposit address.
Are you going to link to wallet software or do we have to learn how to find that as well?
 
Thanks. I found that link as well.

TBH I'm more interested in a crypto that overcomes the shortcomings of bitcoin (deflationary, limited transaction rate, excessive fees, excessive energy consumption) than in another instrument of speculation. Unfortunately, the white paper seems to be high on obfuscation and short of answers to these questions.

Also, I suspect that another upstart crypto has less chance of hitting it big than bitcoin has of hitting it bigger. Nevertheless, I will install the software in due course and advise you. I might get something for free after all. ;)
 
Thanks. I found that link as well.

TBH I'm more interested in a crypto that overcomes the shortcomings of bitcoin (deflationary, limited transaction rate, excessive fees, excessive energy consumption) than in another instrument of speculation. Unfortunately, the white paper seems to be high on obfuscation and short of answers to these questions.

Also, I suspect that another upstart crypto has less chance of hitting it big than bitcoin has of hitting it bigger. Nevertheless, I will install the software in due course and advise you. I might get something for free after all. ;)

Some of the things I liked about ROI coin when it first came out were the staking options that did not require the wallet to be left open and running. You can close the wallet and the next time you open it, you receive staking rewards. Every other coin that stakes at the wallet seems to load up your cpu to stake and the wallet must remain open or you receive nothing. I never liked those.

Plus it is a cpu mined coin, ultra low power required to move the blockchain along and it gives one the option to mine directly from the wallet without the need to join mining pools etc.

I feel that this one is still a good candidate for a revival, the fundamentals are there. If nothing else it's a fun way to own crypto to stake and or mine without a lot of techy headaches to sort thru to do so.
 
Have you actually SEEN the name of this site??

LOL Yep. That's the reason for this thread. A chance for the skeptical to get some free crypto while learning how it works first hand without risking any monetary investment.

So what's in it for me? I get nothing out of this other than the satisfaction of maybe helping a few folks understand cryptocurrency a bit better and I get to give away some coins it took me 2 years to mine. :thumbsup:
 
Some of the things I liked about ROI coin when it first came out were the staking options that did not require the wallet to be left open and running. You can close the wallet and the next time you open it, you receive staking rewards. Every other coin that stakes at the wallet seems to load up your cpu to stake and the wallet must remain open or you receive nothing. I never liked those.

Plus it is a cpu mined coin, ultra low power required to move the blockchain along and it gives one the option to mine directly from the wallet without the need to join mining pools etc.

I feel that this one is still a good candidate for a revival, the fundamentals are there. If nothing else it's a fun way to own crypto to stake and or mine without a lot of techy headaches to sort thru to do so.
I got that much from the white paper. However I didn't get any fundamentals:
  • How many coins are generated per hour?
  • How many blocks are processed per hour?
  • How many transactions per hour can it handle?
  • What are the fees like?
  • How does total energy useage vary with numbers of miners?
Anyhow, I have the wallet now so hit me with free money! :D
 
I got that much from the white paper. However I didn't get any fundamentals:
  • How many coins are generated per hour?
  • How many blocks are processed per hour?
  • How many transactions per hour can it handle?
  • What are the fees like?
  • How does total energy useage vary with numbers of miners?
Anyhow, I have the wallet now so hit me with free money! :D

Currently there are 120 coins block reward. You'll be able to start the miner once you've synced the wallet (This may take awhile for it to get caught up with the blockchain)

Blocks per hour will depend on how many miners are working on the coin. For now there are no pools so it's not too hard to find a block solo mining with the wallet.

The transactions per hour will depend on the block size and again the amount of miners. We shouldn't stress the network too much from our little experiment.


The fees are reasonable. You can set the transaction fee in the wallet.

The energy required to move the blockchain along is less because this coin is cpu mined. Asic miners cannot operate on the algo. While we have our wallet open, if we choose to mine, we're also moving the blockchain by solving blocks, hence the 120 coin reward per block. I found a few yesterday on my modest desktop.

Will do! As soon as you get synced, click on the "receive" tab. Then click on "request payment" this will generate a new deposit address for your wallet. Select "copy address" from the bottom of that tab, this will copy your new deposit address to the clip board, paste that address here or in a message to me, I'll deposit a few coins as a test to make sure everything is working. Once you confirm the wallet is working and you received the small deposit , I'll send the rest.

Your payment address doesn't have to be a secret, it's ok to post the address in the forum. The worst thing anyone could do would be to send you some coins. That's one of the cool things about crypto! You certainly would NOT want anyone to know your bank account numbers! But with crypto it doesn't matter.

Added info: (I realize you already know most if not all of what I just posted, but a few reading here may not.)
 
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I'll look into it and might want to have a try for the learning experience.

Nothing wrong with an experiment.

did a Wallet.

but I'm not sure I like the progressive interest rate system.

The interest rate was for staking at a higher earning rate than normal. It's not working as it should now after the dev went rogue but the idea is sound.

The way it worked was you'd generate a new deposit address, then make a payment to that address (pay yourself) for a selected amount of time. Those coins would effectively be "locked" until your set time passed then you would receive your coins and interest when they matured. It was pretty cool when it was working properly.

Once your wallet syncs do the same as above. Generate a new payment address etc. Paste it here and I'll send you a small deposit to confirm it's working, followed by the big one. :thumbsup:
 

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