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Offline Shentist

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Explanation of the voting system
« on: August 02, 2014, 09:22:53 AM »

i tried to explain the voting system to a friend and failed big time  :D

so i realised i need a good explanation. but i could not found anything understandable at the wiki or the forum.

can anyone point me to this point or can it explain?

what is unclear?

1. can i only vote if i transfer myself the amount or are incoming transfers counting as votes too?
2. when i transfer 1.000 btsx and vote for 20 delegates, do i understand it corret, that everyone of the 20 delegates gets 1.000 votingpoints?
3. so when i see a delegat with 9% approvel it means that 9% of 4 bn btsx has voted for him?

i am a longtime reader and sometimes poster, but if i have this kind of problems i assume that new people has absolutly no clue about it. we need here better explaination and examples.

Online gamey

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Re: Explanation of the voting system
« Reply #1 on: August 02, 2014, 09:42:31 AM »


1. can i only vote if i transfer myself the amount or are incoming transfers counting as votes too?
2. when i transfer 1.000 btsx and vote for 20 delegates, do i understand it corret, that everyone of the 20 delegates gets 1.000 votingpoints?
3. so when i see a delegat with 9% approvel it means that 9% of 4 bn btsx has voted for him?

i am a longtime reader and sometimes poster, but if i have this kind of problems i assume that new people has absolutly no clue about it. we need here better explaination and examples.

1. I do not think incoming transfers change your vote.  It requires that you make a transfer at which point your current voting selection is updated on the blockchain.

2. I don't think it matters how much you transfer.  It is all tied into your unspent stake.

3. Yes.  Well except there are 2 billion btsx, not 4 billion.

If no one else beats me to it, I'll try to create a better explanation of the voting system somewhere on the wiki.  Bringing up points that you find confusing is always a useful thing and helps content/help providers know the areas to improve.  Thanks.
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Offline svk

Re: Explanation of the voting system
« Reply #2 on: August 02, 2014, 09:52:18 AM »
I was under the impression that votes were directly tied to the size of the transfer, that's what it looks like anyway.

I was also under the impression that votes stack, but I might be completely wrong on that one. If they don't it invalidates my poll started earlier today..

Update: Seems I was mistaken on the second point, not sure where I had that idea from. From looking at delegates totals on my site, it seems votes do not stack. I removed my poll as a result, as it was based on an incorrect assumption about votes.
« Last Edit: August 02, 2014, 10:19:57 AM by svk »
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Offline Brent.Allsop

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Re: Explanation of the voting system
« Reply #3 on: August 02, 2014, 07:52:22 PM »
We desperately need some good information on all this.
What, exactly, do you need to do to vote, and what are the mechanics?
Is there a wiki page yet?


Offline neoranga

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Re: Explanation of the voting system
« Reply #4 on: August 20, 2014, 03:55:50 PM »
I'll also like to see a wiki explaining how the system actually works.
I read the theory but in practice it has a lot more tiny implementation details that I'm missing.
I can't find in the forums a post or wiki page that explains how the participation in the voting works, what do I contribute as a Stake holder when voting, how long does a vote last, etc...


I have found http://wiki.bitshares.org/index.php/Bitshares-x-delegate-how-to
But this is a technical guide to install and configure both client and server, no explanation of what they do or how they work.
« Last Edit: August 20, 2014, 04:00:57 PM by neoranga »

Offline neoranga

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Re: Explanation of the voting system
« Reply #5 on: August 20, 2014, 06:40:06 PM »
Between the two wikis below I understood a little more how to actually vote:
http://wiki.bitshares.org/index.php/DPOS
http://wiki.bitshares.org/index.php/BitShares_X_Solutions#Voting

But I'm still unclear on how the payrates work and what the percentages in the GUI mean for each delegate, besides being reliable, why should I choose one or another delegate?

Offline svk

Re: Explanation of the voting system
« Reply #6 on: August 27, 2014, 01:58:11 PM »
A payrate of 80% means the delegate keeps 80% of his pay, while the remaining 20% get burned and can be seen as dividends for all BTSX holders.

Besides reliability and payrate, you could consider contributions on the forums, services offered such as escrow, websites, wiki content updates and other things.

Those things are harder to obtain information on though, there's a website http://beyondbitcoinx.net/ which will aim to provide this kind of information eventually I believe.
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