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Offline sfinder

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it cost me 20.981502 XTS to be a delegate
« on: June 20, 2014, 04:16:52 AM »



it cost me 20.981502 XTS to be a delegate.....  tooooooo    expensive .....................

Quote
BLK    .TRX  TIMESTAMP           FROM                TO                  MEMO                                             AMOUNT             FEE              ID
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 193.0    2014-06-20T04:06:00 sexy                sexy                update sexy as a delegate                  0.000000 XTS       20.981502 XTS        0f14b5ed
微博:星在飘我在找|BTS X 受托人delegate ID:baidu
中国教育书店合作将20%收入捐献给贫困山区学生。
Cooperating with China Education Bookstore and will donate 20% of delegate income to the poor students

Offline tonyk

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Re: it cost me 20.981502 XTS to be a delegate
« Reply #1 on: June 20, 2014, 04:23:36 AM »
Next time try something like 'less sexy' it might be cheaper :)
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline sfinder

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Re: it cost me 20.981502 XTS to be a delegate
« Reply #2 on: June 20, 2014, 04:29:48 AM »
hi BM/Toast

is the delegate fee refundable ?



Next time try something like 'less sexy' it might be cheaper :)

LOL
微博:星在飘我在找|BTS X 受托人delegate ID:baidu
中国教育书店合作将20%收入捐献给贫困山区学生。
Cooperating with China Education Bookstore and will donate 20% of delegate income to the poor students

Offline toast

Re: it cost me 20.981502 XTS to be a delegate
« Reply #3 on: June 20, 2014, 04:33:40 AM »
hi BM/Toast

is the delegate fee refundable ?



Next time try something like 'less sexy' it might be cheaper :)

LOL

Not refundable, it is supposed to equal 2 weeks worth of block rewards. So it should have halved instead of doubled for this round. If you need more test funds I can send you tomorrow
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Offline cgafeng

Re: it cost me 20.981502 XTS to be a delegate
« Reply #4 on: June 20, 2014, 04:34:12 AM »
BM说过这个费用大概是当代理后2周的收入,目的就是防止随意注册代理。
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Offline bytemaster

Re: it cost me 20.981502 XTS to be a delegate
« Reply #5 on: June 20, 2014, 01:30:47 PM »


it cost me 20.981502 XTS to be a delegate.....  tooooooo    expensive .....................

Quote
BLK    .TRX  TIMESTAMP           FROM                TO                  MEMO                                             AMOUNT             FEE              ID
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 193.0    2014-06-20T04:06:00 sexy                sexy                update sexy as a delegate                  0.000000 XTS       20.981502 XTS        0f14b5ed

Delegates are also earning 1 XTS per day.   So 365 XTS per year min pay with a cost of 20 XTS to be considered for the job.    Looks like if you can get elected and stay elected for 2-3 weeks it is break even.  If you don't think you can do that then why should we take your candidacy for delegate seriously? 

Remember by signing up to be a delegate you are asking others to spend their time evaluating your potential and some people to direct their votes toward you.  We want to avoid over-fragmentation of the votes on candidates who are not serious about getting and keeping the job long term.
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bitbro

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Re: it cost me 20.981502 XTS to be a delegate
« Reply #6 on: June 20, 2014, 03:02:47 PM »
Has anyone started a central website for delegates to billboard/ inform/ advertise themselves?  Or a level and fair analysis of each delegate website... Or a combination of both perhaps?


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Offline sfinder

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Re: it cost me 20.981502 XTS to be a delegate
« Reply #7 on: June 20, 2014, 05:17:54 PM »
BM, please point out if i do a wrong math below

1)one delegate earn 1XTS  per day
2)we have 100 delegates
3) all the delegates will earn 1xts X 100X365day= 36500XTS/year
4)10% of the transaction fee go to delegates then annual transaction in total is   36500/10% =365000XST
5)after paying delegates ,the rest of the transaction fee will be destroyed. so 365000-36500=328500XST will be destroyed.
6) there is 4million XST in total which means 328500/4million x100% = 8.2125% XST will be destroyed in the first year.


8.2125% XST will be destroyed in the first year but THE WHITE PAPER MENTIONED only 1% of the XST will be destroyed annually.
 

BTW, it is not a good idea to use XST as fund to pay for registration fee. I strong suggest to use BIP for any kind of operational expense.




it cost me 20.981502 XTS to be a delegate.....  tooooooo    expensive .....................

Quote
BLK    .TRX  TIMESTAMP           FROM                TO                  MEMO                                             AMOUNT             FEE              ID
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 193.0    2014-06-20T04:06:00 sexy                sexy                update sexy as a delegate                  0.000000 XTS       20.981502 XTS        0f14b5ed

Delegates are also earning 1 XTS per day.   So 365 XTS per year min pay with a cost of 20 XTS to be considered for the job.    Looks like if you can get elected and stay elected for 2-3 weeks it is break even.  If you don't think you can do that then why should we take your candidacy for delegate seriously? 

Remember by signing up to be a delegate you are asking others to spend their time evaluating your potential and some people to direct their votes toward you.  We want to avoid over-fragmentation of the votes on candidates who are not serious about getting and keeping the job long term.
« Last Edit: June 20, 2014, 05:38:35 PM by sfinder »
微博:星在飘我在找|BTS X 受托人delegate ID:baidu
中国教育书店合作将20%收入捐献给贫困山区学生。
Cooperating with China Education Bookstore and will donate 20% of delegate income to the poor students

Offline bytemaster

Re: it cost me 20.981502 XTS to be a delegate
« Reply #8 on: June 20, 2014, 06:14:27 PM »
Right now 100% of all fees are destroyed, but delegates are paid a fixed amount of XTS regardless of fees. 

Details on this to follow.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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.

Offline sfinder

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Re: it cost me 20.981502 XTS to be a delegate
« Reply #9 on: June 20, 2014, 06:30:50 PM »
Right now 100% of all fees are destroyed, but delegates are paid a fixed amount of XTS regardless of fees. 

Details on this to follow.

BM, are you trying to tell me the total amount of XTS (4 million) will  increase if the amount of destroyed XTS is less than the amount of fee paid to  delegates?

just wondering why not using BIP instead of XTS for all the operational expense.

« Last Edit: June 20, 2014, 08:04:37 PM by sfinder »
微博:星在飘我在找|BTS X 受托人delegate ID:baidu
中国教育书店合作将20%收入捐献给贫困山区学生。
Cooperating with China Education Bookstore and will donate 20% of delegate income to the poor students

Offline vlight

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Re: it cost me 20.981502 XTS to be a delegate
« Reply #10 on: June 20, 2014, 11:15:04 PM »
Delegates are also earning 1 XTS per day.   So 365 XTS per year min pay with a cost of 20 XTS to be considered for the job.    Looks like if you can get elected and stay elected for 2-3 weeks it is break even.
If people have to invest substantial XTS and to hosting, then it is not a job, it's an investment. All this with a risk of getting kicked out by network for the unforeseen reasons.

If you don't think you can do that then why should we take your candidacy for delegate seriously? 

Remember by signing up to be a delegate you are asking others to spend their time evaluating your potential and some people to direct their votes toward you.  We want to avoid over-fragmentation of the votes on candidates who are not serious about getting and keeping the job long term.
Maybe it is up for those people to decide and vote for the candidates they want without the prejudice.

But whatever. I'm leaving this for the elite guys(or friends), which seems to be the target audience for this "job".

 

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