Dry Run 9: [Block]Chain Hang Low (featuring guest performer: ~~BitUSD~~)

[bytemaster]

if it would be the original chain would really a delegate get back his money in 2 weeks?
No !  So on real conditions everybody would wait the fees to get reasonable.... and what would happen in the mean time with the network security with no delegate present?

Initial delegates are trustworthy and new delegates can sign up over the course of the first few days and the chain will be secure.   

[muse-umum]

Which command will allow me to get some USD with my XTS ?

[bytemaster]

Something needs to be done about delegate registration fees.

Code Select Expand

2014-07-15T18:16:37 544       bitcoiners          bitcoiners          0.00000 XTS           856,060.89468 XTS   register bitcoiners as a delegate       92fe4244


The registration fees are doing their job of rate-limiting delegate signup.   They are currently 4 million, and in an hour will be under 60K if no one else signs up and pays the huge price.    In 2 hours it will be under 6000 (assuming few fees are collected during that time).

[liondani]

if it would be the original chain would really a delegate get back his money in 2 weeks?
No !  So on real conditions everybody would wait the fees to get reasonable.... and what would happen in the mean time with the network security with no delegate present?

[sfinder]

BM, did anyone spend 10M xts to register ? it look like network has 101 delegates now.  :-* :-* :-* :-*

how many people has more then 10 million XTS to become a delegate......?   it is insane

insufficient_funds: insufficient funds

    {"required":"9,418,195.82612 XTS","available":"9,315,232.83328 XTS"}

It is insane, but constantly falling...  since you posted it is already down to:   "delegate_reg_fee": "6,687,493.63941 XTS".  You can monitor this value by calling "config" on the CLI.

[bitcoinerS]

Something needs to be done about delegate registration fees.

Code Select Expand

2014-07-15T18:16:37 544       bitcoiners          bitcoiners          0.00000 XTS           856,060.89468 XTS   register bitcoiners as a delegate       92fe4244


[emski]

With risk to repeat myself:
Why dont we have upper and lower bounds on the delegate registration fee.
As we have approval voting inplace there is no need for skyrocketing the delegate registration fee.
Any registered delegate still needs approval to stay elected.
There is no need to tie the registration fee with expected earnings.

[bytemaster]

how many people has more then 10 million XTS to become a delegate......?   it is insane

insufficient_funds: insufficient funds

    {"required":"9,418,195.82612 XTS","available":"9,315,232.83328 XTS"}

It is insane, but constantly falling...  since you posted it is already down to:   "delegate_reg_fee": "6,687,493.63941 XTS".  You can monitor this value by calling "config" on the CLI.

[liondani]

20010 insufficient_funds: insufficient funds
"required":"936,261.18318 XTS"

lol


sent me some funds please, obviously only for market testing...

Code Select Expand


liondani (unlocked) >>> wallet_account_create liondani
"XTS7yMLAdUFEDdEjuyy75NncKP6N4LDf3SRrdxQEFa4nZLyVaHWaE"


[emski]

The fee is constantly increasing (so far).
There are less than 10 registered delegates.
Decentralisation ?

[sfinder]

how many people has more then 10 million XTS to become a delegate......?   it is insane

insufficient_funds: insufficient funds

    {"required":"9,418,195.82612 XTS","available":" XTS"}

[bytemaster]

Guess in this run I won't register a delegate:

Required "456,475.97790 XTS"

:'(

lol
have same concerns   :)

Dudes, you gotta build and register as fast as you can.

@toast,
Any manual or guide about how to test the market features ?

Guys... if you wait a bit the fee comes down quickly.    The new calculation for registration fee and delegate pay is as follows:

Code Select Expand


foreach block
    total_accumulated_fees += all_transactions_fees
    delegate_pay = (total_accumulated_fees / 101) * delegate_pay_rate_percent;
    total_accumulated_fees -= (total_accumulated_fees / 101)
    delegate_registration_fee = delegate_pay * blocks_per_week * 2 / 101

Effectively, the fee falls at 1% per block.

[bytemaster]

Guess in this run I won't register a delegate:

Required "456,475.97790 XTS"

:'(

lol
have same concerns   :)

Dudes, you gotta build and register as fast as you can.

@toast,
Any manual or guide about how to test the market features ?

Guys... if you wait a bit the fee comes down quickly.    The new calculation for registration fee and delegate pay is as follows:

Code Select Expand


foreach block
    total_accumulated_fees += all_transactions_fees
    delegate_pay = (total_accumulated_fees / 101) * delegate_pay_rate_percent;
    total_accumulated_fees -= (total_accumulated_fees / 101)
    delegate_registration_fee = delegate_pay * blocks_per_week * 2 / 101

[Xeldal]

BAH! 10million is a bit much. lol

20010 insufficient_funds: insufficient funds

    {"required":"10,675,001.72123 XTS"

[emski]

20010 insufficient_funds: insufficient funds
"required":"936,261.18318 XTS"