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Offline kwilliams

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Comming from NXT and confused.
« on: February 08, 2015, 07:52:59 AM »

When I vote for a delegate (give it thumbs up), how much of my stake does it get?

If I vote a second delegate, how is my stake divvied up between the two?

Are there delegates acting like pools - e.g. I give them my stake and they give me part of the earnings?
« Last Edit: February 08, 2015, 07:55:36 AM by kwilliams »

Offline kwilliams

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Re: Comming from NXT and confused.
« Reply #1 on: February 08, 2015, 08:02:20 AM »
Also I have a general confusion about the Vote tab. What is a difference between a vote and approval?

Offline kwilliams

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Re: Comming from NXT and confused.
« Reply #2 on: February 08, 2015, 08:22:49 AM »
Ok, I'm starting to get it.

You start by approving some nodes (aka delegates, you give them thumbs up). This is your "approved subset" (Is this giving them stake? Probably not, TBD...)

Then (on the voting tab), you can transfer your entire stake to these nodes (chose "all" & click "vote"). This also creates a dummy transaction to your self (for your entire balance, for which you pay 0.5 BTS fee). It appears every member of the "approved subset" gets 100% of your stake. The total stake transferred in the process is [number of approved nodes] x [your account balance]

It may be possible to transfer less than 100% of the stake, using technique described in http://wiki.bitshares.org/index.php/DPOS/ApprovalVoting . What is the use case for this? IMHO "delegate" is at first confusing - in NXT it's used as a verb "i delegate my stake". In BTS it's a noun for a particular kind of node. Which may lead to sentences like this "Your entire stake is delegated to all approved delegates". They should have called them Representatives or Electives , etc

So now onto the main question. I need delegates that (upon receiving my stake), will reward me with part of their profits.
« Last Edit: February 08, 2015, 10:42:15 PM by kwilliams »

Offline kwilliams

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Re: Comming from NXT and confused.
« Reply #3 on: February 08, 2015, 08:30:10 AM »
Seems like delegates are listed here: https://bitsharestalk.org/index.php?board=61.0

Offline svk

Re: Comming from NXT and confused.
« Reply #4 on: February 08, 2015, 08:32:19 AM »
When I vote for a delegate (give it thumbs up), how much of my stake does it get?

If I vote a second delegate, how is my stake divvied up between the two?

Are there delegates acting like pools - e.g. I give them my stake and they give me part of the earnings?

Welcome!

They both (and all if you vote for more than two) get 100% of your stake. You can vote for 101 delegates who will all get 100%.

No they do not give back earnings, their earnings are generally used to improve the eco-system through marketing for example or development.

The Vote tab is a summary of the votes you have made with that account. The approval has three states: For, Neutral and Negative. For means you vote for them, negative means you want to remove your previous votes for them. There's another thing called delegate slates, they are lists published by another account that you can choose to use (by using Vote as Delegates Recommend). Any delegates in such a list will be added to your votes, except for the ones you marked as Negative.


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Offline svk

Re: Comming from NXT and confused.
« Reply #5 on: February 08, 2015, 08:33:13 AM »
...
So now onto the main question. I need delegates that (upon receiving my stake), will reward me with part of their profits.

There aren't any I think.
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Offline fundomatic

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Re: Comming from NXT and confused.
« Reply #6 on: February 08, 2015, 08:43:44 AM »
I'm afraid the delegates would not share their rewards with you directly.

If you look at https://bitsharesblocks.com/delegates, the 'pay rate' they allocate themselves is between 3% and 100%. In case of 3%, the delegates burn the rest of the rewards and thus decrease the dilution of the BTS (increasing the value of your stock). 100% paid delegates contribute something useful to the BitShares ecosystem, for example, developers and marketing. Again you get something back indirectly for you wise voting.

Quote
It appears every member of the "approved subset" gets 100% of your stake.

I think the correct way to phrase it would be: delegates that you chose (with thumb up and "all") get votes equivalent to 100% of your stake.
 

Offline biophil

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Re: Comming from NXT and confused.
« Reply #7 on: February 08, 2015, 04:48:53 PM »
...
So now onto the main question. I need delegates that (upon receiving my stake), will reward me with part of their profits.

There aren't any I think.

That's somewhat amazing and incredibly beautiful. Not a single case of myopic vote-buying. :)

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Offline donkeypong

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Re: Comming from NXT and confused.
« Reply #8 on: February 08, 2015, 05:04:39 PM »
Welcome! I hope you got the answers you needed about voting here. I used to be in NXT also when BCNext was still active, but sold it all for BitShares which I feel has a lot more going for it. In the future, feel free to post in the General forum, since there are far more community members there and you'll get more responses.

Offline BunkerChain Labs

Re: Comming from NXT and confused.
« Reply #9 on: February 08, 2015, 05:23:26 PM »
When I vote for a delegate (give it thumbs up), how much of my stake does it get?

If I vote a second delegate, how is my stake divvied up between the two?

Are there delegates acting like pools - e.g. I give them my stake and they give me part of the earnings?

Just out of curiosity.. what brought you over here from NXT?
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Offline kwilliams

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Re: Comming from NXT and confused.
« Reply #10 on: February 08, 2015, 09:41:49 PM »
Thanks all, I've got my answers now!

I'm here to better understand the Crypto 2.0 space.

In addition to NXT, I also have Ripple, Stellar and (now) BTS accounts.

In case you care for my opinion, I think BTS offers genuine innovation and has what is takes to be a major player.

Offline kwilliams

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Re: Comming from NXT and confused.
« Reply #11 on: February 08, 2015, 10:11:12 PM »
Quote
That's somewhat amazing and incredibly beautiful. Not a single case of myopic vote-buying. :)

IMHO, after Satoshi's ground breaking work, the search is on finding the most efficient ways of maintaining distributed consensus. If POW / POS are pure capitalism, DPOS adds elements of civic society. And as we know form history - there's more than one way of maintaining civic consensus. There's no silver bullet - each successful community will evolve in a direction where the rules combined with their ethos result in a stable consensus.

Will there be an "ultimate consensus method fit for all times & places"? ... I doubt it. Just look what happens in real life when one group of people starts pushing their beliefs on others....

 

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