Main Menu

Is BTSX inflating?

Started by ripplexiaoshan, October 01, 2014, 04:31:44 AM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

xeroc


ripplexiaoshan

Quote from: xeroc on October 01, 2014, 07:05:14 AM
Citing BM from another thread
Quote from: bytemaster on September 22, 2014, 09:21:34 PM
Yes, laddies and gentlemen, the BTSX supply is over 2 billion as a result of multiple bugs identified and fixed weeks ago.  The surplus supply will be burned from our own funds to return it to the proper supply.  We didn't want to spook people until we had the burn operation implemented so that we could correct it.

So where did this extra supply end up going?

1) Mostly to the delegates... our calculation of delegate pay was off and thus we miscalculated the running supply.   We stated earlier our intent to compensate delegates for the extra hard work they were doing, this particular bug just helped us do what we were planning on anyway.  Delegates running at a discount didn't have their pay burned like it was supposed to be.

2) Some white hat individuals who identified bugs and reported them to us privately after they exploited them.  We were able to fix the bugs without much being created.

Thank you, xeroc, can't believe I missed that important post. I hope their is a way to subscribe all BM's posts.. :)
BTS committee member:jademont

xeroc

Citing BM from another thread
Quote from: bytemaster on September 22, 2014, 09:21:34 PM
Yes, laddies and gentlemen, the BTSX supply is over 2 billion as a result of multiple bugs identified and fixed weeks ago.  The surplus supply will be burned from our own funds to return it to the proper supply.  We didn't want to spook people until we had the burn operation implemented so that we could correct it.

So where did this extra supply end up going?

1) Mostly to the delegates... our calculation of delegate pay was off and thus we miscalculated the running supply.   We stated earlier our intent to compensate delegates for the extra hard work they were doing, this particular bug just helped us do what we were planning on anyway.  Delegates running at a discount didn't have their pay burned like it was supposed to be.

2) Some white hat individuals who identified bugs and reported them to us privately after they exploited them.  We were able to fix the bugs without much being created.

ripplexiaoshan

"blockchain_share_supply": "1,999,980,098.06896 BTSX",

If I remember correctly, a few days ago, this number was much smaller, and it should be reducing, because many delegates are burning their income. For example, my delegate is burning 50%. However, the share supply suddenly increased. Did I miss something or the consensus was changed?

BTW, I like the previous "OVERVIEW" page of wallet, because users can see the daily burning, daily expense, etc.. 
BTS committee member:jademont