Minting is necessary for every shareholders?

[Sabreiib]

people to be online

If you off line, natually you cann’t mint or contribute to netweork security, why give you extra coins day?

[quote]2) To maximize the influence of your voting and gain the largest amount of NuShares as block rewards, you need to mint constantly. If you only unlock your wallet for minting half the time, you will only get slightly more than half as many blocks and votes as if you were minting constantly.
[/quote]
By Jordan

[Yurizhai]

You aren’t minting or contributing to network security if you don’t have 7 coin days to begin with, and 7 is the max. It really depends on how may NSR you hold, and whether it is possible for you to have all/most of your NSR mint at once. If you have a lot you probably should mint constantly.

[cryptog]

In my understanding cold minting will be used by nushares to make minting even more secure and then implemented into peercoin later on.
Perhaps @sigmike can give details about that.

[Yurizhai]

I could be mistaken, but I believe I heard Jordan say he wasn’t too keen on the idea of cold minting for Nushares, as he hadn’t seen a version of it that didn’t introduce a security risk. He was more interested in something along the lines of PeerBox for NuShares.

[cryptog]

i ve just found that: More minting needed .
If his mind has not changed in between, you are right.

[cryptog]

After having accumulated 7 share days (online or offline, it does not matter), I can start to mint by unlocking my wallet for minting only.
The question (might be silly) that I have is: do i need to be online while minting?
I guess so unless there is a way for the network to be aware of the fact that I am minting…

[cryptog]

@Sabreiib I heard the same about peercoin. I am wondering if it s about accumulating coinage or actually unlocking one s wallet for minting in the case of peercoin.

[Yurizhai]

Yes, as of this moment you would need to be online.

[cryptog]

@Yurizhai I see. But with cold minting offline will be enough ? I suppose that “offline” means having the software be running without being connected to the internet. “Online” means having the software be running and being connected to the internet.

[Yurizhai]

Yes. If NSR does get a cold minting feature, as I understand it would work something like that.

[cryptog]

@Yurizhai I see. Tks.

[sigmike]

But with cold minting offline will be enough ?

No, with cold minting you still need to be online. Otherwise the network can’t see your blocks and you can’t see other’s blocks, so you’d build your own chain that can’t compete with the network chain and all your blocks would be orphaned.

But with cold minting you can mint with a key that cannot spend your coins. Your spending key can be kept safely in cold storage. So you can’t lose your coins if your minting-only computer is compromised.

Indeed Jordan doesn’t want cold minting in Nu. But for my part I’m in favor of including it.

[Yurizhai]

Thanks for the clarification sigmike.

[cryptog]

@sigmike.

Tks for clarifying.

By the way, do you think that nushares hot minting is secure enough?

[sigmike]

It depends on so many things it’s hard to say (your OS, your network, other softwares installed, inherited bitcoin and peercoin code, the libraries we use, Nu specific code, etc.).

[cryptog]

@sigmike. I see. By the way why not proposing a motion that calls for implementing the cold minting feature since the motion for protocol voting has passed?
I am assuming that implementing a cold minting feature is 1 example of protocol change.

[masterOfDisaster]

[…]proposing a motion that calls for implementing the cold minting feature[…]

…would be great!
I bet there would be some discussion needed as well, but I think this is the way to proceed if there are different opinions.

[cryptog]

I am also wondering about the following. If your connection gets interrupted, what happens to the minting that was being executed?

[masterOfDisaster]

Cold-minting doesn’t eliminate the need to be online when minting.
Maybe I understand something wrong, but I understand cold-minting as an approach that supports minting with keys that can’t be used for executing transactions (transferring coins; possible security issue when having trouble with malware…).
But you still need to be online and part of the Nu network; the minting device needs to be aware of transactions to include them in blocks as well it needs to be able to distribute found blocks…

[seki]

exaclty. PoS pays the user for “risking” his coins to be online. All we can do is find ways to secure our online coins
as much as possible