Try this:

1dollar bill equals $1.
4 quarters equal $1.
10 dimes equal $1.
20 nickels equal $1.
100 pennies equal $1.

So sometimes you have different coin worth different amounts and depending on how many of each coin you have they can add up to $1.

BTSX and bitUSD are similar in this same way.

BTSX are the coins that can add up to 1 bitUSD. The only difference is that people get to decide how much value BTSX has every day, hour, minute and second relative to a dollar. Thus, BTSX will constantly be changing from a "Penny" coin one day, to a "quarter" coin on some other day.

For example:

2 days ago, 115 BTSX equaled 1 bitUSD (approximations)
Yesterday, 33 BTSX equaled 1 bitUSD
Today, 40 BTSX equals equals 1 bitUSD

Here is the kicker: 1 bitUSD always equals $1.

Quote from: GaltReport on August 22, 2014, 05:08:37 pm

I will then decommission the lower paying one.  Is this not allowed or frowned upon ?  If so, just ignore.

My fault I didn't know all the rules though.  The delegate is very reliable and only missed blocks on one of the early versions.

same very high-end reliable server class.

it is not frowned upon and actually is encouraged at the moment, which seems silly to me. The point is that you don't vote for one delegate and then that delegate jacks up his rates without you knowing. The downside is it creates a market with infinite upward pressure.

I'm still advocating for a mechanism by which delegates can raise their rates in a transparent way by publishing rate changes a few days ahead of time. That will be great for the network since it will actually allow a delegate pay rate market to form where some delegates can peg their income to bitUSD, which is impossible with the current rules.

Quote from: bytemaster on August 22, 2014, 02:05:21 pm

And market fees haven't even started yet...

How does it feel to know you were right all along?

And it's much more efficient than wasteful mining.

Quote from: liondani on August 22, 2014, 02:21:48 pm

I am getting $12.5/month due too my low pay rates ...

Please vote for my sub account delegate:

delegate.liondani
wallet_approve_delegate delegate.liondani

payrate 5% under average payrates that means at 79% right now 

Your pay rate is 5%? You know you should probably ask for 50%.
But if we are going at cost then it only costs around 5% if you don't take any profit for your time.

Quote from: MktDirector on August 22, 2014, 06:15:45 am

So there's a lot of talk "around the watercooler" here this week, as I'm sure you can guess.  With BitSharesX $50 million to litecoin's $158 million, it looks like we're already 1/3rd of the way to another historic milestone.  This is faster than even we had anticipated, so it begs the question:  What date do we pass litecoin in market cap?


I'd like to make this fun, so I'm gonna put some money in the pot. Well, not money, something better....BTSX.  I'll tip 10,000 BTSX to whoever comes the closest to guessing the correct date.  You don't have to get the actual date, just be the closest.  So it's not open ended, let's limit this to only the responses posted here by midnight, Aug 24th.

So, what date does BitSharesX sit at the right hand of the almighty Bitcoin in the #2 spot?  And better yet, what are the reasons you guessed that date? Should be interesting.  Good luck.

B

September 5th 2014.