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Offline pseudoscops

Daily Income, Daily Expenses and Daily Burn - I'm confused.
« on: August 22, 2014, 01:35:52 PM »

I've tried to find the answer to this in the wiki and on the board here but I can't seem to find an answer.

Can someone explain the Daily Income, Daily Expenses and Daily Burn panels in the BitSharesX client. I think it's obvious but not working how I expect it to. To my mind the daily burn amount if positive is the 'dividends' that I should receive every day? Is this correct? If so why am I not seeing my balance increase over time for holding BTSX in my client? Is it because my original account populated with BitShares from the PTS snapshot has not been registered by me yet. If this is the case can a retrospectively claim those earned shares by simply registering?  What is the benefit of registering and do I essentially need to do it for any account that I create for it to be of any use? Or put another way is there a circumstance where one would not bother to register an account?

I might have got all of this wrong. I'm a bit confused. Can anyone help shed any light...?

Offline bytemaster

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #1 on: August 22, 2014, 01:37:05 PM »
Those stats are a tad confusing:

Income: total fees collected by the network
Expenses:  total paid to delegates
Burn:  total fees burned (decreasing the supply, increasing value of BTSX)

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 pseudoscops

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #2 on: August 22, 2014, 01:52:05 PM »
Thanks for the swift reply!

Okay so those stats are not linked to any of my accounts and are actually network stats? Makes sense now that I look at it as it's not on my individual account page and on the main client Dashboard.

I'm still a bit confused. Should I register the original account created that my PTS snapshot shares were paid into after I imported my PTS wallet into the BTSX client? Does it always make sense to register an account?

Also this Q & A on the the FAQ is what got me thinking in terms of personal dividends for holding. Is this slightly misleading in that I'd actually need to be a delegate as well? Or do I get an income as a non-delegate holder of BTSX?

Q. How does BitShares X earn income for owners of BTSX?
A. All fees are paid to holders of BTSX. This is what makes BitShares X a DAC: the fact that it produces income for its owners.

Offline bytemaster

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #3 on: August 22, 2014, 01:53:58 PM »
Right now it "pays" BTSX holders via the BURN.   If you were to represent your balance as % of the share supply, then you would see it go up.   Of course, that would be ordinary income, where as BURN results in a "stock buy back" or "capital gain" instead.
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 Riverhead

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #4 on: August 22, 2014, 01:58:19 PM »
So are there like 5 people logged in as Bytemaster or do you just mainline amphetamines?

Offline pseudoscops

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #5 on: August 22, 2014, 02:07:25 PM »
So I was correct in the first place to some extent? Those figures do actually make a difference to the value of my holdings. It's just that my balance stays the same but the value effectively goes up (assuming a static price) because of the decreasing share supply over time...? Does this mean that BTSX is inflationary vs BTC being deflationary.

Delegates presumably earn shares directly via a different mechanism and so their balances do actually go up?

Sorry if I'm being a bit dense  :-X

Offline pseudoscops

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #6 on: August 22, 2014, 02:09:15 PM »
Also should I register all of my accounts as a matter of course?

Offline Riverhead

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #7 on: August 22, 2014, 02:09:48 PM »
So I was correct in the first place to some extent? Those figures do actually make a difference to the value of my holdings. It's just that my balance stays the same but the value effectively goes up (assuming a static price) because of the decreasing share supply over time...? Does this mean that BTSX is inflationary vs BTC being deflationary.

Delegates presumably earn shares directly via a different mechanism and so their balances do actually go up?

Sorry if I'm being a bit dense  :-X


Delegates earn their BTSX directly from the fees paid for transactions. No BTSX is created or destroyed at that point. However, a delegate's income is the percentage of those fees they keep. For example a 5% delegate that earns 100 BTSX will keep 5 BTSX and send 95 BTSX into oblivion. That is the number that shows in Burn Rate.

Offline xeroc

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Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #8 on: August 22, 2014, 02:11:18 PM »
So are there like 5 people logged in as Bytemaster or do you just mainline amphetamines?
I guess ... I am having difficult time to read all posts while working little .. but BM is working hard an manages to read (and write) more posts than I can .. just amazing
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Offline Riverhead

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #9 on: August 22, 2014, 02:12:16 PM »
Also should I register all of my accounts as a matter of course?


I wouldn't register accounts you don't think you're going to use. They are not transferable and currently can't be revoked so they become just dead weight.


However an account that you don't register is not reserved in the blockchain. If someone else creates an account by the same name and completes registration you'll have to rename yours.

Offline Riverhead

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #10 on: August 22, 2014, 02:13:49 PM »
So are there like 5 people logged in as Bytemaster or do you just mainline amphetamines?
I guess ... I am having difficult time to read all posts while working little .. but BM is working hard an manages to read (and write) more posts than I can .. just amazing


Seriously. I just got approved to take next week as vacation from my real job so I can focus on this (I didn't tell them that). I have a feeling the support queue is going to be HUGE once the market starts and we'll need all hands on deck.

Offline xeroc

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Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #11 on: August 22, 2014, 02:15:55 PM »
I probably wont be available that much next week .. have my parents around and will go out visit sweden (staying in sweden for 3 months ) :)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline bytemaster

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #12 on: August 22, 2014, 02:16:20 PM »
So are there like 5 people logged in as Bytemaster or do you just mainline amphetamines?
I guess ... I am having difficult time to read all posts while working little .. but BM is working hard an manages to read (and write) more posts than I can .. just amazing


Seriously. I just got approved to take next week as vacation from my real job so I can focus on this (I didn't tell them that). I have a feeling the support queue is going to be HUGE once the market starts and we'll need all hands on deck.

+1
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 Riverhead

Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #13 on: August 22, 2014, 02:18:42 PM »
I probably wont be available that much next week .. have my parents around and will go out visit sweden (staying in sweden for 3 months ) :)


Nice! When I can quit my day job I plan to do some traveling. This weekend is my wife's birthday so I won't be able to focus on this again until Monday.

Offline xeroc

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Re: Daily Income, Daily Expenses and Daily Burn - I'm confused.
« Reply #14 on: August 22, 2014, 02:21:19 PM »
I probably wont be available that much next week .. have my parents around and will go out visit sweden (staying in sweden for 3 months ) :)


Nice! When I can quit my day job I plan to do some traveling. This weekend is my wife's birthday so I won't be able to focus on this again until Monday.

Isn't that why we have a community? So that BM does not need to do all the support job on it's own and we can share the work (and benefits) :)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

 

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