General Interest Question

[JIIS]

Rimbit2015pdf.pdfI have had interest once last year. I was wanting to know how it is generated and how to make it happen for me! My computer has been on constantly since before Christmas (yeh I know I should be doing that on a pi) and it has been on bitsof the year as well, my wallet is running every time the machine is on.

When i mouseover the green tick on the wallet i get the message that it is up to date, has downloaded 102122 blocks as of 5 secs ago etc

I think i have attached a pdf showing this lack of interest.

Questions -

Can i make my wallet generate interest
If it runs 24/7, how long on average should i wait before something happens
Does having more rimbit mean more likely to get interest

Happy New Year to all!

[BobBobert]

My guesses are
A. No
B. My wallet is close to 24/7 and it is days, not weeks.
C. Yes in practice but technically no.

There is no knowledge other than observation and guesswork. I am not a techie person. And finally, yes, do get a rimbit pi, if the actual machine is too much there is the sad card offer too. I wonder how long it takes to pay for itself over your current machine.

[toucan]

How much and how often you get interest depends on how many RBT you have, and how many hours per day your computer is on and the wallet is open.

The interest rate is set at 5% annually. I have discovered the following in my wallet.

The larger the block of RBT, the more often it will generate or mint interest.

For example a block of 10,000 RBT should generate 500 per year, but this might produce 12 payment of 41.5 monthly, or possibly 24 bimonthly payments of 20.75 RBT And in addition, each of those interest payments will start generating interest after a certain period of time. Thus you will be getting compounded interest and perhaps a shade more than 5%

If you have a block of 10 RBT, it should generate 0.5 RBT for the year and that may only be on the 365th day.

I discussed this issue in another topic.. http://rimbit.com/forum/development-...tical-question

[JIIS]

So is there a way to make sure it generates on day 365 or is it a luck thing?

[toucan]

No, it is all in the code. It shouldn't be based on luck whether my 10 RBT block mints and your 10 RBT block doesn't. It isn't a lottery ticket.
I added some to my response above, so you might want to reread it

[Fireguy71]

JIIS what wallet version do you have on your machine?

[toucan]

I forgot about that. If by 'last year' he meant early 2015 or even late 2014, he may be running the old wallet and need to upgrade.

[Fireguy71]

Looking at the date of the interest, i am guessing your wallet needs updating.

[JIIS]

Going to help about rimbit, I am on 1.1.1 The copyright dates are all 2014 though. I think I did the wallet update last year 2015 summer time. Should th copyright be 2015 then? Did I mess up - opps

[twister]

V1.1.1 is what you want. You didn't mess up.

[Fireguy71]

1.1.1 is the current wallet. Do you have it locked?

[JIIS]

How do I check the locked thing? I cannot see any option to lock unlock. This is a Linux wallet if tat makes a differecnce. I just bought some Rimbit last week and they got into my wallet with no issues, so does that mean it is unlocked?