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Quote from: fuznuts on August 04, 2014, 05:09:43 amQuote from: zvs on August 04, 2014, 03:25:42 amhmm, the 'delegate' system is essentially just politics, is it not? i'm a bit confused as to their purpose. is it supposed to ensure integrity of block chain or somesuch? i don't really see how the voting system helps this, seeing as how just a few people have 50% or more of the voting power (if they actually used it)?Can you show me proof of this? I am genuinely interested..Based off some old list that showed who held the most PTS. There's probably some site out there that shows the top holders? shrug.. I don't imagine it's changed *too* muchVoting is weighted based on # of coins, correct? that would inevitably lead to a handful of people controlling the 'delegates', great deal if you like the good old boy system
Quote from: zvs on August 04, 2014, 03:25:42 amhmm, the 'delegate' system is essentially just politics, is it not? i'm a bit confused as to their purpose. is it supposed to ensure integrity of block chain or somesuch? i don't really see how the voting system helps this, seeing as how just a few people have 50% or more of the voting power (if they actually used it)?Can you show me proof of this? I am genuinely interested..
hmm, the 'delegate' system is essentially just politics, is it not? i'm a bit confused as to their purpose. is it supposed to ensure integrity of block chain or somesuch? i don't really see how the voting system helps this, seeing as how just a few people have 50% or more of the voting power (if they actually used it)?
It is not correct to call people greedy when they're really not even breaking even on their time/VPS cost. When the money actually becomes significant to any meaningful degree, then market forces will kick in. If delegates are providing no value then they will be removed. Pushing for such a really low rate at this point is doing nothing but inviting centralization.
Quote from: gamey on July 30, 2014, 12:02:52 pmQuote from: iHashFury on July 30, 2014, 10:38:17 amI believe the system must run as lean as possible to improve future returns. I'm here for the long run.Lets see how the post below progresses:Node6 Delegates Group List - PAY RATE ≤ 6%https://bitsharestalk.org/index.php?topic=6410Who isn't in this for the long run? Do you not think the market will adapt when the money actually matters ?What were you contributing before ? Why didn't we hear much from you previously?I see 3 posts from you at the top of this forum. You're pretty much spamming the board and calling everyone else greedy.You contribute far less in "savings" than someone like happypatty, svk (sp?), or alt contributes. It isn't even comparable.At your cost you are probably just completely centralized.For the record I am not even running a delegate. My plan is to create tools that people appreciate and help offset the costs.(btw, I am currently running at a loss, but that's OK, because I still learn in the process)
Quote from: iHashFury on July 30, 2014, 10:38:17 amI believe the system must run as lean as possible to improve future returns. I'm here for the long run.Lets see how the post below progresses:Node6 Delegates Group List - PAY RATE ≤ 6%https://bitsharestalk.org/index.php?topic=6410Who isn't in this for the long run? Do you not think the market will adapt when the money actually matters ?What were you contributing before ? Why didn't we hear much from you previously?I see 3 posts from you at the top of this forum. You're pretty much spamming the board and calling everyone else greedy.You contribute far less in "savings" than someone like happypatty, svk (sp?), or alt contributes. It isn't even comparable.At your cost you are probably just completely centralized.
I believe the system must run as lean as possible to improve future returns. I'm here for the long run.Lets see how the post below progresses:Node6 Delegates Group List - PAY RATE ≤ 6%https://bitsharestalk.org/index.php?topic=6410
Quote from: Riverhead on August 02, 2014, 10:16:00 pmhelp wallet_set_priority_fee Usage:wallet_set_priority_fee [fee] Used to set the priority fee for new transactions. Return current fee if no parameter is provided.Used to set the priority fee for new transactions. Return current fee if no parameter is provided.Parameters: fee (real_amount, optional, defaults to "0"): the wallet priority fee to be setReturns: assetaliases: set_priority_fee, settrxfeeLooks like the client will enforce the fee, when I set the fee to 0.001, the client will tell me "RPC error: insufficient fee"
help wallet_set_priority_fee Usage:wallet_set_priority_fee [fee] Used to set the priority fee for new transactions. Return current fee if no parameter is provided.Used to set the priority fee for new transactions. Return current fee if no parameter is provided.Parameters: fee (real_amount, optional, defaults to "0"): the wallet priority fee to be setReturns: assetaliases: set_priority_fee, settrxfee
It is up to the market users can set the fee in their client and delegates can set the fee in their client anyone who sets a fee that's too low and just have a pending transaction forever users can then voting delegates that approve at reasonable fee. Sent from my iPhone using Tapatalk
Quote from: bytemaster on August 01, 2014, 03:56:55 pmIt is up to the market users can set the fee in their client and delegates can set the fee in their client anyone who sets a fee that's too low and just have a pending transaction forever users can then voting delegates that approve at reasonable fee. Sent from my iPhone using TapatalkGreat! So delegates get two knobs:1) Fees accepted2) % of fees that are destroyedThis is another economics/game theory problem (you can write a book on this delegate game):1) If there is no limitation to block size, delegates should accept any fee >0. A delegate gains nothing by turning down a fee. A delegate that turns down a fee is essentially just paying the next person in line a tip. So the first knob won't do anything. However, if there is a universal limit on blocksize, every delegate will accept the largest fee per byte transaction first.
Ideally ,each delegate can produce 750hrX3600S/10s/101= 2673btsx/mo. Based one current btsx price (less than 0.01usd),each delegate need to pay around 30 to 80 dollars per month to keep their position.
As transaction/block size increases the delegates will probably have to ramp up their hardware/vps implementations. I can't imagine that ever costing close to $1k/month....but who knows what the future holds. I guess with someone like me, at 5% pay, it would be much less and probably closer to the actual cost of hosting a delegate.
I think all delegates are vastly underpaid at this point in time. I hope to increase fees to increase delegate compensation. Sent from my iPhone using Tapatalk
Quote from: Riverhead on August 01, 2014, 01:14:54 pmAs transaction/block size increases the delegates will probably have to ramp up their hardware/vps implementations. I can't imagine that ever costing close to $1k/month....but who knows what the future holds. I guess with someone like me, at 5% pay, it would be much less and probably closer to the actual cost of hosting a delegate.There will be people like me who is able to donate very beefy dedicated hardware and fast internet for free, my delegate pay will be 100% donated. I run several full nodes for Bitcoin too.
HelloQuoteYou made 3 completely different threads which basically all had the same content. That you are operating below cost/others are greedy.In my opinion, the point of this tread is to highlight that there are greedy delegates. There are also delegates providing valuable services. The community is voting, in my opinion, correctly as the average pay rate has now reduced from ~90 to ~80%.The Node6 thread https://bitsharestalk.org/index.php?topic=6410 is to allow users to post their ≤ 6% node details.I have removed my original post.QuoteWhy don't you tell us how much in USD you are saving someone with a 1 million BTSX stake ?I alone cannot make savings for a 1 million BTSX stake holder but these two threads should promote a much leaner system by increasing the burn rate and returning profits to all stake holders.http://wiki.bitshares.org/index.php/Bitshares_X#Delegate_Burn_Rate_to_realize_profitsQuoteReducing the supply of BTSX is economically equivalent to dividing the transaction fees among all holders of BTSX proportional to their ownership.
You made 3 completely different threads which basically all had the same content. That you are operating below cost/others are greedy.
Why don't you tell us how much in USD you are saving someone with a 1 million BTSX stake ?
Reducing the supply of BTSX is economically equivalent to dividing the transaction fees among all holders of BTSX proportional to their ownership.
Quote from: gamey on July 30, 2014, 07:07:55 pmQuote from: iHashFury on July 30, 2014, 12:35:55 pm3 post = spam?You made 3 completely different threads which basically all had the same content. That you are operating below cost/others are greedy.Why don't you tell us how much in USD you are saving someone with a 1 million BTSX stake ?It is hard enough to keep up with everything. What makes you think that you deserve 3 threads to choke the forum with repetitive ads ? Do you think this is a good approach for everyone to take in our community ?If my comments/posts/opinions are not relevant and of no use to the community - moderator feel free to delete
Quote from: iHashFury on July 30, 2014, 12:35:55 pm3 post = spam?You made 3 completely different threads which basically all had the same content. That you are operating below cost/others are greedy.Why don't you tell us how much in USD you are saving someone with a 1 million BTSX stake ?It is hard enough to keep up with everything. What makes you think that you deserve 3 threads to choke the forum with repetitive ads ? Do you think this is a good approach for everyone to take in our community ?
3 post = spam?
Quote from: liondani on July 30, 2014, 11:20:59 amOk maybe pay rates under 50% is to low right now but I suggest nobody to have pay rates above 80%It looks really greedy even if it is not! just my 2 BTSX Hah! In politics perception is everything .
Ok maybe pay rates under 50% is to low right now but I suggest nobody to have pay rates above 80%It looks really greedy even if it is not! just my 2 BTSX
wallet_approve_delegate ihashfury
wallet_approve_delegate perks
wallet_approve_delegate perky