HappyIguana's Personal Escrow Service -
Instruction to use a Bootstrap File -
Pool Weight -
How to register with BeeKeeper? -
How are HoneyPot and Global Index (GI) calculated?
HappyIguana's Personal Escrow Service
Some LCC discord users may have a very small amount of LCC in Tipsy account, but wish to buy bees in the HivePool. There is a 5 LCC fee to withdraw from Tipsy. That fee helps cover the cost of running Tipsy. That fee can be a barrier to people with few LCC. It is a large percent compared to the few LCC they have.
HappyIguana is acting as the middleman (Escrow) to allow users to move LCC from Tipsy to HivePool, fee free, allowing users to use all of their LCC to Hive mine in HivePool.
If you want to transfer LCC from your Tipsy account to BeeKeeper account then you can use this service. Suppose, you want to transfer 20 LCC from Tipsy to BeeKeeper. Go to the #general channel and buzz HappyIguana 20 LCC. The format is as follows:
?buzz @HappyIguana 20
When you will buzz HappyIguana, he will send you 20 LCC within few seconds to your BeeKeeper account.
When you transfer LCC from Tipsy account to BeeKeeper account you don’t need to wait as you send LCC from any wallet to BeeKeeper account, you need to wait 6 confirmations in the block-chain and that takes about 5-10 minutes.
Before buzzing HappyIguana check that he is online or not. If he is offline then ask rabTAI HivePool-Scientist, or nak333 they will help you to transfer your LCC from Tipsy to BeeKeeper.
Instruction to use a Bootstrap File
Download LitecoinCash core wallet from here.
If you installed LitecoinCash core wallet first time, it will take around 24 hours to synchronize in Mainnet. But, you can reduce the time by using a Bootstrap file. Download the bootstrap file of LitecoinCash from here:
Download via browser: http://cryptochainer.com/dir/?page_id=881
Download via torrent: http://litecoinca.sh/downloads/bootstrap.torrent
- Go to the LitecoinCash data folder:
C:\Users\YourUserName\AppData\Roaming\LitecoinCash (YourUserName is your username in your PC/Laptop). - If you have any coin in your wallet, create a backup of "wallet.dat" that is located in "wallets" folder. If you don't have any coin then you don't need to create backup.
- Remove everything from LitecoinCash data folder, except "wallets" folder if you have any coin in your wallet.
- Extract "bootstrap.dat" into the LitecoinCash data folder (all bootstraps are named bootstrap.dat, so be sure you’re using the correct one).
- Launch the wallet and wait for it to import the blocks (it will take some time).
- Do not attempt to access the wallet or click the splash screen (it may crash the wallet).
- To monitor the progress, look here: C:\Users\YourUserName\AppData\Roaming\LitecoinCash\blocks
The number and size of the files will be increasing.
What is a Bootstrap?
A bootstrap is a packaged copy of the blockchain like a snapshot, however it will still require your wallet to validate each block. This is preferable, because it doesn't require your wallet to trust the source of the bootstrap. The bootstrap method is faster than a standard resync and uses less bandwidth, but still it takes some time and causes high CPU usage while it is validating the blocks.
What is a Snapshot?
A snapshot is simply a copy of the blockchain. A snapshot is used as a shortcut when resyncing your blockchain because your client will not need to download or validate the blocks. However, this requires you to trust the source of the snapshot is not giving you bad data.
Pool Weight
Global Mature Bees:
Total number of Mature Bees in LitecoinCash network.
HivePool Weight:
HivePool weight is determined by how many Mature Bees HivePool has divided by Global Mature Bees then multiply by 100. Suppose, total number of Mature Bees in HivePool is 2,000,000 and Global Mature Bees are 10,000,000, then HivePool weight will be 20.00%.
| Mature Bees in HivePool | 2,000,000 |
| Global Mature Bees | 10,000,000 |
| HivePool Weight | (2,000,000/10,000,000)x100 = 20.00% |
Your Pool Weight:
Your Pool Weight is determined by how many Mature Bees you have divided by all of the Mature Bees in HivePool then multiply by 100. Suppose, your mature Bees are 20,000 and total Mature Bees in HivePool are 2,000,000, then your pool weight will be 1.00%.
| Your Mature Bees | 20,000 |
| Mature Bees in HivePool | 2,000,000 |
| Your Pool Weight | (20,000/2,000,000)x100 = 1.00% |
How to register with BeeKeeper?
- Write !help in the #hivepool or #luckybee channel. You will receive a Direct Message (DM) from BeeKeeper.
- In the DM window of BeeKeeper write !reg firsttime. You will receive a message with a BeeCode from BeeKeeper that “Registration Completed”. Save your BeeCode, you will need it in the future to access your HivePool account from Telegram, Twitter etc. Or due to any reason if you lose your current discord account and you need to create another discord account, then with this BeeCode you can recover your HivePool account along with all balance and bees.
- In the DM window of BeeKeeper write !deposit, you will receive a DM with a deposit address to fund your HivePool account.
- Send LCC from any wallet/location to your deposit address. If you want to buy LitecoinCash then here you will find the list of exchanges. But, before buying LitecoinCash in any exchange, first check the withdrawal fee of that exchange and check that the withdrawal is enabled or not. After 6 confirmations in the block-chain you will receive a message from BeeKeeper that your deposit arrived.
How are HoneyPot and Global Index (GI) calculated?
How is HoneyPot calculated?
The formula to calculate HoneyPot is
(Bees Lifespan x Hive block percentage) x block reward
Bees Lifespan: The number of blocks that a bee lives after mature and that is 16,128 blocks.
Hive block percentage: There are proof-of-work (PoW) blocks and Hive blocks. Currently Hive block percentage is 33.33 among all blocks.
At the moment block reward is 125 LCC.
16,128 x 33.33% x 125 = 671,933 and it is rounded up to 672,000 LCC.
So, HonePot = 672,000 LCC.
How is Global Index (GI) calculated?
The formula to calculate Global Index is
(Global bees price / HoneyPot) x 100
If Global mature bees are 12,473,451 then
Global bees' price (12,473,451 x 0.05) = 623,672.55 LCC (one bee price is 0.05 LCC).
(623,672.55 / 672,000) x 100 = 92.81
So, Global Index (GI) = 92.81
So, from the above calculation, we came to know that "HoneyPot" varies by PoW and Hive block ratio.
If HoneyPot decreases the GI increases while the total Global bees are same. And if HoneyPot increases the GI decreases while the Global bees are same.
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