BM, please point out if i do a wrong math below
1)one delegate earn 1XTS per day
2)we have 100 delegates
3) all the delegates will earn 1xts X 100X365day= 36500XTS/year
4)10% of the transaction fee go to delegates then annual transaction in total is 36500/10% =365000XST
5)after paying delegates ,the rest of the transaction fee will be destroyed. so 365000-36500=328500XST will be destroyed.
6) there is 4million XST in total which means 328500/4million x100% = 8.2125% XST will be destroyed in the first year.
8.2125% XST will be destroyed in the first year but THE WHITE PAPER MENTIONED only 1% of the XST will be destroyed annually.
BTW, it is not a good idea to use XST as fund to pay for registration fee. I strong suggest to use BIP for any kind of operational expense.
it cost me 20.981502 XTS to be a delegate..... tooooooo expensive .....................
BLK .TRX TIMESTAMP FROM TO MEMO AMOUNT FEE ID
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193.0 2014-06-20T04:06:00 sexy sexy update sexy as a delegate 0.000000 XTS 20.981502 XTS 0f14b5ed
Delegates are also earning 1 XTS per day. So 365 XTS per year min pay with a cost of 20 XTS to be considered for the job. Looks like if you can get elected and stay elected for 2-3 weeks it is break even. If you don't think you can do that then why should we take your candidacy for delegate seriously?
Remember by signing up to be a delegate you are asking others to spend their time evaluating your potential and some people to direct their votes toward you. We want to avoid over-fragmentation of the votes on candidates who are not serious about getting and keeping the job long term.