Bitbean User Friendly Forum

Sprouting, blocks and re-blocking

append delete Gary

The wallet needs to be loaded and unlocked for sprouting. The sprouting has a
minimum age limit of 6 hours before blocks can be sprouted. My observation
is there is a maximum age limit as well. I've reduced my oldest blocks
(ones with the largest number of confirmations) down to a month or two and
still those ones don't get used for sprouting.

Block sizes, I re-block all ones under 4k of Beans and depending on how
often you want to do it will determine the size you re-block them to. I
started re-blocking them to 16k which is fine if you have couple of million
but as your Bean bag gets bigger then this gets a tad of a pain in the butt.
I'm currently re-blocking mine to 100k+ now.

Re-blocking requires the coin control turned on and to save time, copy
your wallet address into both the destination address and the custom change
address. Mark the blocks you want and then put in half the amount of Beans
in the amount field. This has the advantage of producing two new blocks
of that amount. Saves time.

Conversely large blocks can be broken down into smaller ones using the same
process as more blocks gives you more opportunity to get one sprouting.

Best to lock the wallet before staring re-blocking as this can result in a
conflict with a block being selected and then subsequently being sprouted
before the transaction is confirmed.

Any happening like this can be reset by going into the console and
running checkwallet. If this reports errors then do a repairwallet.

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append delete #1. CryptoSupporter777

this is MIND-NUMBINGLY complicated (???) !!

the way ti should work is that your balance is weighted to the probability of sprouting

you have 1 million coins you get X sprouts

you have 10 million coins you get 10X sprouts

anything other than that is something that I would STRONGLY recommend development team fixing

append delete #2. Bitbeaner

The distribution of BitBean is a fair one. Large holders are able to earn 'proportionate' SPROUTs available - if the node is active on the network and able to verify and create blocks in a timely enough fashion. Even small "wallets" have the ability to earn SPROUTs.

If the reward structure was strictly linear, it wouldn't be a distributed network. You would have only top holders monopolizing all the new BitBean that are created through a process known as "SPROUTing".

If you look at BitBean's Big Brother, Bitcoin..you will find that 1% of holders own 99%. That type of distribution is not good for a currency to gain mainstream adoption. As long as the top 99% of holders don't dump, Bitcoin is a good store of value. Meanwhile, Bitcoin's Big Little Brother, BitBean is meant for daily point-of-purchase transactions.

append delete #3. Bitbeaner

One other point I wanted to make. You *don't* need to re-block your BitBeans! The "wallet" will automatically split them for you when they SPROUT. Manual Re-blocking is a process that speeds up the process of seeing new SPROUTs. In the long-term, just holding BitBean and actively SPROUTing..and spending your BitBean (not hoarding them all) will give you a great return!

For the average user. Just send BitBean to your address in bundles of 10k-100k and your "wallet" will automatically split your Beans.

The only thing you need to worry about, is if you encrypt your vault (which is highly recommended) - then you need to unlock your "wallet" for SPROUTing and unlock it again (for SPROUTing) after each time you send BitBean.

It's not complicated..unless you want it to be!

append delete #4. CryptoSupporter777

thanks for response

still a bit confused - please help me understand:

(1) if I have for example, 1% of total supply of BitBean and always have my wallet actively sprouting and DON'T spend and DON'Tt do anything else other than hold them and support the network by having wallet online and sprouting - when the supply has increased over 5 years leter, WILL MY BALANCE STILL BE 1% of all outstanding BitBeans?

(2) what is the exact (for total newbies) process for this "manual reblocking"?

append delete #5. JD9

I have the same question as CryptoSUpporter 777 (1)

append delete #6. Bitbeaner

If you hold 1% of BitBean's supply and you are actively SPROUTing - and connected to the network all the time, you will end up gaining on average 1%+a piece of SPROUTs that are not rewarded by those who are not SPROUTing. How much that extra ends up being is determined on a number of dynamic factors that are not known as of yet.

If you look at the pie-chart at the following link, the red indicates the portion of BitBeans that are not being SPROUTed currently: https://chainz.cryptoid.info/bitb/#!extraction

If all BitBeans in existence were being actively SPROUTed, you would get 1% of new SPROUTs. Effectively, with BitBean you are able to not only keep up with inflation, but earn more than inflation, because there are always going to be BitBeans that are not being SPROUTed. The highest % of Bean supply actively SPROUTing, that I've seen is 78%.

append delete #7. Gary

Just calculated that my wallet is going to appreciate in size by 71.5% in one year (going
on what it has sprouted for the past day).

day sprout*365/wallet total*100

So as long as the whole blockchain increases the same percentage amount as your wallet,
then the answer would be YES.

In reality the blockchain would increase slightly more unless you keep your wallet in tip
top sprouting condition.

I think this logic is sound but I'll get to know soon enough from you Guys'n'Gals :)

append delete #8. W Thomas

So I'm new to BitBean and I just almost received my first sprout. I said almost because in my transaction history, its listed as "Generated but not accepted SPROUT" It has been 48 hours, will I ever receive this reward or is it gone for good?

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