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David @ DNB.io

ORB newcomers, here's a kick-start to set up your wallets !

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(As published on dnb.io new pool blog)
 
Hello folks. The Orbitcoin (ORB) community grows and we are happy to welcome new members every day. Here is a guide that will allow you to start using Orbitcoins today.
 
To hold your Orbitcoins, you will need a wallet. It's a software available for Windows, Linux and MacOS X that will act as your personal bank. It will hold your accounts, will be used to send and receive your coins and will generate interests on your holdings.
 
The firsts steps are to download, install and launch the Orbitcoin wallet on your computer.
To do so, you can click on the links below to download the wallet archive, depending on which type of operating system you are using :

You will need at least 1 Go of available disk space to use the wallet. I recommend to install the wallet on your computer in a commonly used directory such as C:\Program Files on Windows or the Applications folder on MacOS X. This is handy in case you migrate your files to a new computer, for example.

 

Attention : it is important to keep your wallet updated to the latest version available. Using an outdated software wallet might prevent it from working normally. This might require to download and install a newer version from time to time. The latest version available is 1.5.0.0, older versions will not work.
 

 

First time launch

 

When your wallet is used for the first time on your computer(s), it needs to set itself up by downloading the Orbitcoin block chain. This block chain is a kind of database used by the wallet to run. It contains all the information generated by the people using the coin from its birth (records of coins sent, coins received, coins generated, etc.). The Orbitcoin block chain is the same for everyone and is permanently updated with the latest transactions, happening all the time, all around the world.
 
The block chain files will be automatically downloaded and updated by the wallet while it's running on your computer. On the first run, it may take some time (4/5 hours most of the time, depending on your internet connection) as the block chain has a volume of approximately 900mo.
 

 

Basic functions

ORB-wallet.png

While running, the main panel of the wallet shows the global balance of all your accounts and a short list of recent transactions you made. The main commands of your wallet will reside under the "Send" (coins) and "Receive" (coins) buttons.

  • In the "Send" panel, you will be able to transfer your coins from your accounts to another person's Orbitcoin address.
  • In the "Receive" panel, you will be able to set up an unlimited number of local accounts associated with their own and unique address, addresses that will be used by other people to send coins to you.
  • In the "Payment" panel, you will find the list of all the transactions made using your wallet (sent payments, received payments, coins generated).
  • In the "Addresses" panel, you will be able to manage a list of people you wish to send ORBs to regularly.

Feel free to navigate through the wallet menus and discover the different commands.

 

 

Getting your first ORBs !

 

There are different ways to get ORBs on your account (just like regular FIAT money actually) :

  • Sell a service or objects to people and accept ORBs as a payment ;
    Accepting ORBs as a payment for a service you are offering is very easy and there are already many stores where you can pay with ORBs (see the Orbitcoin forum for more informations). Feel free to ask details to community members if you wish to sell (more) using ORBs !

     
  • Buy ORBs on market places ;
    Just like US dollars or Euros, ORBs can be exchanged (bought and/or sold at current rates) on specialized market places (like https://www.cryptsy.com). Check the Orbitcoin forum for the list of all ORBs markets.

     
  • Use a computer calculation power to "create" new coins ;
    It is called "Proof-of-Work mining" or PoW mining. Using your computer calculation power with dedicated software, you can literally "find" coins by running the same complex algorithm a huge amount of time. It is called "mining" because it looks like digging in a mine : you dig randomly until you find a nugget (in our case, nuggets are "blocks").

     
  • Hold enough ORBs on your wallet accounts to generate interests.
    It's probably the greatest feature of the Orbitcoin : "Proof-of-Stake mining" or PoS mining. Just like a regular bank may make your money work and share the benefits with you, when you hold a minimum amount of ORBs on your wallet (at least 30) and leave your wallet running on your computer, these ORBs may automatically generate new coins that will be directly added to your wallet balance.

     

Enjoy #ORBs !
 
Dave @ www.dnb.io


#Orbitcoin PR team - DNB.io pools main operator // orb.dnb.ioftc.dnb.io -  hal.dnb.io - pxc.dnb.io

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that's great :) Thanks

Edited by BitcoinLove

Service orbitcoin.mydice.co seems to be a Fraud . The game is off. The ORB stolen https://[REMOVED].com  Free Bitcoins every 24 hours. - One of the first 30 currencys in the World is Orbitcoin Public Relations Forum or DEV Forum - don't forget free ORB's are here ORB Faucet, tell your friend's - Everyone can mine ORB with general purpose hardware. The PoS (Proof of Stake) generation features very low energy consumption.

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  • Hold enough ORBs on your wallet accounts to generate interests.

    It's probably the greatest feature of the Orbitcoin : "Proof-of-Stake mining" or PoS mining. Just like a regular bank may make your money work and share the benefits with you, when you hold a minimum amount of ORBs on your wallet (at least 30) and leave your wallet running on your computer, these ORBs may automatically generate new coins that will be directly added to your wallet balance.

     

 

Enjoy #ORBs !

 

Dave @ www.dnb.io

 

 

this 1 is not really true for everyone. I am running the latest wallet, I am on the right blockchain and have more than 30 ORB in wallet , but there is no credit transaction after several days of staking. There is clear field in wallet status STAKE:    and the icon for staking is reporting that staking is enabled.

 

so where is the problem? Who is really taking interests from staking?

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this 1 is not really true for everyone. I am running the latest wallet, I am on the right blockchain and have more than 30 ORB in wallet , but there is no credit transaction after several days of staking. There is clear field in wallet status STAKE:    and the icon for staking is reporting that staking is enabled.

 

so where is the problem? Who is really taking interests from staking?

 

 

now you have very little ORB, so you have to wait until you're in the chain on it! Some have bought position before you ORB! So the older ORB are in stakeout preferred and if a lot more than you!

 

a greater input in the wallet would have greater weight and thus more likely staking!

 

applies for the stake, first the size of the input's = weighting, then it is the time = Age

 

it works really ;)

 

https://i.imgur.com/3XlnaPH.png3XlnaPH.png


Service orbitcoin.mydice.co seems to be a Fraud . The game is off. The ORB stolen https://[REMOVED].com  Free Bitcoins every 24 hours. - One of the first 30 currencys in the World is Orbitcoin Public Relations Forum or DEV Forum - don't forget free ORB's are here ORB Faucet, tell your friend's - Everyone can mine ORB with general purpose hardware. The PoS (Proof of Stake) generation features very low energy consumption.

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For a long-term investor like me, smaller inputs are porfitabler!

A short investor should work with a large input as 1000 ORB, this is staking immediately!


Service orbitcoin.mydice.co seems to be a Fraud . The game is off. The ORB stolen https://[REMOVED].com  Free Bitcoins every 24 hours. - One of the first 30 currencys in the World is Orbitcoin Public Relations Forum or DEV Forum - don't forget free ORB's are here ORB Faucet, tell your friend's - Everyone can mine ORB with general purpose hardware. The PoS (Proof of Stake) generation features very low energy consumption.

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For a long-term investor like me, smaller inputs are more porfitable!

A short investor should work with a large input as 1000 ORB, this is staking immediately!

has input more age so it get a higher weight


Service orbitcoin.mydice.co seems to be a Fraud . The game is off. The ORB stolen https://[REMOVED].com  Free Bitcoins every 24 hours. - One of the first 30 currencys in the World is Orbitcoin Public Relations Forum or DEV Forum - don't forget free ORB's are here ORB Faucet, tell your friend's - Everyone can mine ORB with general purpose hardware. The PoS (Proof of Stake) generation features very low energy consumption.

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this is from my wallet (and it has been the same from starting the wallet):

 

stake.jpg

 

what does it mean? when I should obtain the interest? I would like to know how it works, because there is no explanation about rules of staking on your site or here in forum.

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this is from my wallet (and it has been the same from starting the wallet):

 

stake.jpg

 

what does it mean? when I should obtain the interest? I would like to know how it works, because there is no explanation about rules of staking on your site or here in forum.

It means you have 13 coin inputs which have reached their maximum weight over time (290 coin days / 13 inputs = 22 coin days per input on average). Any input gains a staking weight after 1 day and reaches its maximum in 10 more days. Therefore your inputs seem small, 22 / 10 = 2 ORBs on average.

 

It takes 20 ORBs at least to generate a stake. It could be either a single large input of 20+ ORB or up to 10 smaller inputs.

 

Stake generation is a stochastic (random) process. Higher weight means higher chance of successful staking. In your particular case, it may take a very long time to generate a PoS block. You need to add more coins to stake faster.

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so, my wallet is still running without interruption, reporting that staking is enabled, received some ORBs from PoW mining and exchange (currently 130) but still nothing. There is no PoS mined coin in it. It is about 20 days and still nothing. Why?

 

edit:

wallet become unstable and after that get frozen today. Then my windows stopped responding and crashed. After restarting there was error during starting ORB wallet (I can not remember but something with blocks db). I copied my wallet.dat file and downloaded wallet again from ORB website. But downloading blockchain is very slow although I have 100mbps fiber connection and currently 54 conections. Is there something I can do for faster sync? now it is slowly catching blocks generated 91-90 weeks ago (about 1 hour and still on 90 weeks ago).

Edited by marecek666

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so, my wallet is still running without interruption, reporting that staking is enabled, received some ORBs from PoW mining and exchange (currently 130) but still nothing. There is no PoS mined coin in it. It is about 20 days and still nothing. Why?

 

edit:

wallet become unstable and after that get frozen today. Then my windows stopped responding and crashed. After restarting there was error during starting ORB wallet (I can not remember but something with blocks db). I copied my wallet.dat file and downloaded wallet again from ORB website. But downloading blockchain is very slow although I have 100mbps fiber connection and currently 54 conections. Is there something I can do for faster sync? now it is slowly catching blocks generated 91-90 weeks ago (about 1 hour and still on 90 weeks ago).

 

sure their is good sir.

Block chain data for rapid deployment:

 

data.7z (832166 blocks, Windows only, 322Mb)

md5sum (data.7z) = 4d3741b01d6609bf8f8a4b4fe36e863a

 

.orbitcoin.tar.xz (1205757 blocks, Linux only, 521Mb)

md5sum (.orbitcoin.tar.xz) = d4635ab1de4e0d8be6cbad158ee19861[/size]

 

And welcome to the ORB society.

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so is there somebody who is finallly able to explain ORB POS details? As I can see, it is not working although there is status STAKING ENABLED. There is no POS mined coin in my wallet. Currently holding 371 ORB (37inp/1354cd/3-16-18).

I realised that there are several messages in debug file: proof-os-stake check failed, try again later

what does it mean?

 

you should publish exact rules/details about your POS parameters as it is not clear how it works/what amount of coins generate a stake in what amount of time by what diff. I really want to be involved in a neoscrypt coin but I am not sure if ORB will be the 1 I will choose.

 

If there will not be any explanation I simply change this holding into other coin.  sorry

Edited by marecek666

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"proof-os-stake check failed, try again later" has nothing to do with your staking.

 

The PoS difficulty is high at about 0.15 now. That's why it takes a long time to stake. 1354 coin days / 37 inputs = 37 ORB per input on average. They are supposed to stake in 2 to 3 weeks, so be patient. See yourself with a block explorer how much time it takes for particular inputs to stake.

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