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Offline monsterer


The release says '2 weeks', but it would be nice to have a hard number to work with :)
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Offline cn-members

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #1 on: November 11, 2014, 09:27:58 AM »
you can register a 100% pay  delegate ,  but you don't normally elect to be one , unless you're the core developer or great contributor who can bring value to the system. Normal people wants to be a 100% pay delegate , shareholders won't approve .

Normally , you can do 3% if you're ordinary people.
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Offline xeroc

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #2 on: November 11, 2014, 09:56:05 AM »
The release says '2 weeks', but it would be nice to have a hard number to work with :)

Quote
(wallet closed) >>> blockchain_get_info
{
  "blockchain_id": "75c11a81b7670bbaa721cc603eadb2313756f94a3bcbb9928e9101432701ac5f",
  "symbol": "BTS",
  "name": "BitShares",
  "version": 109,
  "db_version": 159,
  "genesis_timestamp": "2014-07-19T03:18:40",
  "block_interval": 10,
  "max_block_size": 51200,
  "max_blockchain_size": 107374182400,
  "address_prefix": "BTSX",
  "relay_fee": "0.10000 BTS",
  "delegate_num": 101,
  "max_delegate_pay_per_block": "50.00000 BTS",
  "max_delegate_reg_fee": "8.12366 BTS",
  "name_size_max": 63,
  "memo_size_max": 19,
  "data_size_max": 65536,
  "symbol_size_max": 8,
  "symbol_size_min": 3,
  "asset_shares_max": 1000000000000000,
  "short_symbol_asset_reg_fee": "137,842.38720 BTS",
  "long_symbol_asset_reg_fee": "137,842.38720 BTS",
  "max_pending_queue_size": 10,
  "max_trx_per_second": 1,
  "min_block_fee": "0.00000 BTS"
}
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Offline monsterer

Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #3 on: November 11, 2014, 10:41:48 AM »
Quote
"max_delegate_reg_fee": "8.12366 BTS",

Is that per block? In that case, how many blocks in two weeks?
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sumantso

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #4 on: November 11, 2014, 10:52:18 AM »
What prevents a large shareholder to vote in his own high pay delegate. Even if that one is eventually voted out he can just register a new one and start again.

I am still hoping BM considers separating delegates and employees.

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #5 on: November 11, 2014, 10:59:18 AM »
Quote
"max_delegate_reg_fee": "8.12366 BTS",

Is that per block? In that case, how many blocks in two weeks?
This is the one-time fee to register a delegate on the blockchain and has nothing to do with how much you earn as a delegate.. it depends first of all if you are voted up enough to produce blocks .. and then secondly on your payrate .. which is a parameter you have to specify when registering on the blockchain .. and can only be lowered ... not increased
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Offline xeroc

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #6 on: November 11, 2014, 11:00:36 AM »
What prevents a large shareholder to vote in his own high pay delegate. Even if that one is eventually voted out he can just register a new one and start again.

I am still hoping BM considers separating delegates and employees.
currently the last active delegate has 5.72% approval .. if you own more than that in BTS .. you can upvote your own delegate into the top101 and actively produce blocks.
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Offline monsterer

Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #7 on: November 11, 2014, 11:11:49 AM »
This is the one-time fee to register a delegate on the blockchain and has nothing to do with how much you earn as a delegate.. it depends first of all if you are voted up enough to produce blocks .. and then secondly on your payrate .. which is a parameter you have to specify when registering on the blockchain .. and can only be lowered ... not increased

I'm confused - the one time fee both has nothing to do with, and also depends on the pay rate?
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Offline xeroc

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #8 on: November 11, 2014, 11:57:39 AM »
I'm confused - the one time fee both has nothing to do with, and also depends on the pay rate?
Oh .. sorry .. you are right .. the delegate registration fee somehow depends on the payrate .. but I have no detailed information ..
you still need to pay that once (per registration and per registration update) .. not per block
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Offline Rune

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #9 on: November 11, 2014, 12:32:32 PM »
50/1010*60*60*24*14=59881

Offline matt608

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #10 on: November 11, 2014, 01:04:17 PM »
What prevents a large shareholder to vote in his own high pay delegate. Even if that one is eventually voted out he can just register a new one and start again.

I am still hoping BM considers separating delegates and employees.
currently the last active delegate has 5.72% approval .. if you own more than that in BTS .. you can upvote your own delegate into the top101 and actively produce blocks.

AlphaBar was saying on mumble after the last hangout that it's a lot less than the approval rate shown on the blockexplorer to get voted in because its only shows the active stake. He calculated that currently (4 days ago) control of only 2% of the total BTS supply is needed for a large stakeholder to vote themself into to a max-dilution delegate spot. 

Offline bytemaster

Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #11 on: November 11, 2014, 01:34:11 PM »
Bullocks.  Anyone with less than 15% will not get in without my approval because I can indirectly influence that much stake.   

Once people get up in arms about a selfish delegate it will bring out the vote.   
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Offline xeroc

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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #12 on: November 11, 2014, 01:34:57 PM »
AlphaBar was saying on mumble after the last hangout that it's a lot less than the approval rate shown on the blockexplorer to get voted in because its only shows the active stake. He calculated that currently (4 days ago) control of only 2% of the total BTS supply is needed for a large stakeholder to vote themself into to a max-dilution delegate spot.
I'd love to see that calculation ...

the last active delegate has 6% of ALL stake voting for him .. sure, due to dilution that percentage will decrease unless you get more votes over time .. but 2% sounds a little unrealistic at this point in time.
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Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #13 on: November 11, 2014, 01:36:01 PM »
Bullocks.  Anyone with less than 15% will not get in without my approval because I can indirectly influence that much stake.   
Let me highlight the important word here!
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Offline bytemaster

Re: How many BTS do I need to raise to create a new 100% pay delegate?
« Reply #14 on: November 11, 2014, 01:37:44 PM »

Bullocks.  Anyone with less than 15% will not get in without my approval because I can indirectly influence that much stake.   
Let me highlight the important word here!

Thanks.   To be clear I do not control the private keys for that much stake.
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

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