Author Topic: Getting Started with the BeginnerCoin Wallet  (Read 1491 times)

BeginnerCoin

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Getting Started with the BeginnerCoin Wallet
« on: August 30, 2016, 04:19:16 PM »
Once you've downloaded and installed the Wallet, you're ready to get started! Open the file once it's downloaded and follow the onscreen instructions.

The "wallet" is the main software you will use to send and receive funds using BeginnerCoin.  This wallet can send coins, receive coins, manage receipt addresses, maintain a transaction log and can even mine to earn BGNR, the BeginnerCoin Cryptocurrency! 

To help you get started with BeginnerCoin, we will walk you through a few simple features within the wallet and discover some basic commands.

Once BeginnerCoin is installed, open your wallet and you should see a window nearly identical to as below:



This is the basic dashboard where you can see all the activity of the coin.  Here you will see how much BGNR you have available to use, pending (recently received from a user) and immature (recently mined).

Once pending or immature coins are verified by the network, coins are moved from Pending or Immature to the Available balance. This process take places in 1 block for pending coins and 101 blocks for immature (recently mined) coins.

To the right in the image you will see a series of transactions.  This view on the dashboard tracks the most recent transactions (mining rewards, coins sent and coins received).  The full list can be accessed by clicking the Transactions tab from the dashboard.

Once you load up your wallet, you should notice something DIFFERENT about yours:

On the bottom left you will see a message that says Synchronizing with Network at first. On the bottom right you will not see a checkmark symbol, but a synchronizing symbol.

This means that your wallet is currently downloading the blockchain from the network. This step can take quite some time depending on the quality of your internet connection. The older the client is, the longer this process will take.  The software is downloading the ledger that includes every transaction made across the BGNR network. This will be the longest time you will need to wait, so please be patient.  When you close the wallet it will need to catch up from all the activity while it was closed.  The shorter the time in between opening the wallet, the less time catching up takes.

While you're waiting for the blockchain to synchronize, lets take a few minutes to explore the rest of the client.

First off, you've earned some BGNR. Let's show you how to redeem it. Click on file then go to to Receiving addresses....



That will bring up a menu that looks like this:



This is a RECEIVE ADDRESS for this wallet. You can generate an infinite number of these, and all funds send to any receive address you generate will be sent to this same wallet and will be spendable. 

Copy down the address by right-clicking and selecting Copy Address. This will put that long string into the clipboard of your computer and then you can send that to anyone you'd like to begin receiving BeginnerCoin!

Head on over to the BeginnerCoin Faucet and enter your RECEIVE ADDRESS to earn free BGNR! These received coins will be used to get you familiar with using the BeginnerCoin software.
« Last Edit: August 31, 2016, 03:33:38 PM by BeginnerCoin »
BGNR: 17Ct4dy5Ziw7PQvc5VU6Y75F6HHwstzCKR
BTC: 1DfkgpPNjx9xgSd2uxqgVmG8tqrCuiY6Wv

BeginnerCoin

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Re: Getting Started with the BeginnerCoin Wallet
« Reply #1 on: August 30, 2016, 05:21:26 PM »
Once you've received your free BGNR from our faucet, you can test the SEND feature by sending us a small amount of your BGNR. (Just a small amount - we want you to keep the rest to use as you see fit!) 

From the dashboard, click on the Send tab, adjacent to the Overview button.



You can start by sending a small amount of your newly-received BGNR to our public address:

1Ex6sXnHHnii6NkmHtFyTRTpEYisD6kygQ

Copy the text above and paste that into the field labelled "Pay To:" at the top.  Next, click down to the label window and label the receipt address however you'd like.  This label is how your client will identify that receipt address.  If you want to send more money to that address later, you can quickly and automatically pull in that long string of characters by clicking on the label.

Next, in the amount box, try sending us 0.01 BGNR - or more, if you'd like to support us! To the right you'll see BGNR, click that dropdown menu and you'll find you can send milli (1/1000), even micro (1/1,000,000) BGNR.  This is important because this feature is what allows each individual coin (including the most popular cryptocurrency Bitcoin) to scale indefinitely. 

Let's take an example. If 1 BGNR is worth $10.00 USD and you want to buy a $1.00 USD cup of coffee, you can send 0.1 BGNR to the restaurant or cafe in exchange for that coffee. (If that business is choosing to accept BGNR as a choice of payment, of course.)

If you want to buy a gumball for $0.10, you can send 0.01 BGNR. You can transfer minuscule fractions of coins to others, including to exchanges for Bitcoin or other cryptocurrencies.   

How do you determine how much 1 BGNR (or 1 Bitcoin) is worth? It's easy! It's based on the open market exchange rate for each cryptocurrency - many of which are directly redeemable into USD, EUR, GBP, and other major currencies.

How do you acquire BGNR? Do you have to buy it? No!

You can mine it. Keep reading to find out how...
« Last Edit: August 31, 2016, 01:04:38 PM by BeginnerCoin »
BGNR: 17Ct4dy5Ziw7PQvc5VU6Y75F6HHwstzCKR
BTC: 1DfkgpPNjx9xgSd2uxqgVmG8tqrCuiY6Wv

BeginnerCoin

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Re: Getting Started with the BeginnerCoin Wallet
« Reply #2 on: August 30, 2016, 05:53:06 PM »
Let's take a look 'under the hood' of the client and venture into... the console. Gasp!




Click on the Help menu then go to Debug Window at the top of the list.




Then click on the console tab to bring up the console of the wallet.  This area gives access to advanced user tools within the wallet which don't have GUI buttons made for them.



Now we have command line access to the wallet.  This window gives us access to a wealth of information and additional features.

The most important command you can learn is also the easiest to remember.  Just type 'help' and press Enter.

Your screen has just been inundated with EVERY COMMAND that the wallet recognizes.  A full explanation of each of these commands is well outside the scope of this tutorial.  But for users itching to explore we encourage you to use your search engine of choice to investigate each command and how to use it.

For now though, lets stick to some very simple commands. Namely, the MINING command.

Mining with the wallet is putting your computer to work in a very literal sense.  Computing cycles are used and dedicated to processing BGNR transactions and the proof-of-work algorithm to add blocks to the blockchain. Once a block is complete, all of the transactions that took place during the previous block are added to the blockchain. This algorithm is what verifies, proofs and conducts all transactions across the BeginnerCoin network.  Without miners the network simply wouldn't function. 

As reward for this essential piece, miners are given coins. In the case of BeginnerCoin, they are given BGNR. As blocks are mined the coins are distributed amongst the miners on a basis proportional to approximately how much computing power share they have in the BeginnerCoin network.  Approximately every 10 minutes a new block is found and rewarded to one miner.

Many miners find that instead of relying on these randomized rewards they instead pool their resources and split the rewards amongst all the users.  This guarantees each user a piece of the pie instead of the normal winner-take-all scenario.  We'll talk about mining pools in a future update as we move along. For now, let's mine within the wallet itself.

**WARNING!**

Mining will cause increased electrical consumption and heat generation of your computer.  Computer resources will be heavily used by your system and it may cause other programs (including your web browser) to operate more slowly while it is active.  If users are experiencing system freezes or lockups while attempting to mine, simply close the BeginnerCoin client. When you re-open the wallet, you will no longer be mining.

In the command line, type the following then press enter:

setgenerate true

You may hear your computer's fan kick on when this happens.  Right now, your computer is on the job, working for the BeginnerCoin network.  In a very real sense, your computer has a job, with the payment being BGNR.  You may notice other programs moving slowly as your computer's resources are being dedicated to the wallet and the network.

While its active, type in

getmininginfo

This will return a list of the mining statistics of your computer.  This is a very rough way to determine the hash rate (computing power) of your machine.



This will give you information on the current block number, its size, difficulty as well as the amount of power your computer is dedicating.  Look next to the hashespersec line to see your computer's current output.

That's enough mining for now though, lets turn it off.

Type in the following then hit enter:

setgenerate false

Or, simply close the wallet and then re-open it. This will turn the mining off completely.  If you want to double check, type getmininginfo again and you will see a 0 next to hashespersec.

For BeginnerCoin, we have dedicated servers to accomplish mining so you won't need to worry about mining in order for transactions to be processed.  However, we encourage our users to mine on their own and earn some BGNR for themselves.  The increase in electrical usage is negligible for most households and it's an interesting, sometimes even potentially profitable way to put your computer to work while it's not in use.
« Last Edit: August 31, 2016, 01:27:29 PM by BeginnerCoin »
BGNR: 17Ct4dy5Ziw7PQvc5VU6Y75F6HHwstzCKR
BTC: 1DfkgpPNjx9xgSd2uxqgVmG8tqrCuiY6Wv