Author Topic: The Key is Burning BTS  (Read 4374 times)

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Offline clayop

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more fees being kept out of circulation.

Does this mean "burned" or "bounded as something"?
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Offline clayop

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The key is *income* with which to burn BTS. Prove you aren't paying for everything with inflation and suddenly people will be eager to buy BTS regardless of what you are doing with it.

 +5%
From a negative ROA to a positive one.
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Offline starspirit

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The key is *income* with which to burn BTS. Prove you aren't paying for everything with inflation and suddenly people will be eager to buy BTS regardless of what you are doing with it.
+5%
...although in principle that income could be indirect, in that BTS could provide unique access to a range of profit opportunities that users could choose from.
Such innate utility is important to underpinning and growing the value of BTS, which in turn would add to broader market confidence in other tokens that are backed by it.

Offline toast

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The key is *income* with which to burn BTS. Prove you aren't paying for everything with inflation and suddenly people will be eager to buy BTS regardless of what you are doing with it.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline clayop

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Imo the best way to achieve this is to increase tx numbers with massive adoption of Bts and bitassets. We need at least 400x increase of tx numbers.
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merockstar

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YAY! I was really concerned about this for a long time when we shifted from burning to fees to paying delegates.

I'm glad that didn't fall on deaf ears.

 +5% +5% +5% +5% +5%

Offline jsidhu

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That*s why it is good to vote for delegate martin-38ptswarrior-raum
62 percent get burned and you get face-to-face marketing to makers in the wealthy city of Stuttgart, where they invented the car.

Yes.. I find this thread so ironically contrary to this push back in the past to 100% delegates being somehow a boon to bitshares value growth.

Vote for artin-38ptswarrior-raum and vote for http://vote.bunkermining.com .. we got 5 more delegates that need to be voted in that will put 100% of its bts into generating more liquidity, transactions, and users!

We are only short term though.. so once we have the updated infrastructure all done and we reached the profitability we need to move forward we would just start burning the BTS until we got voted out. This would accomplish nearly 30k of BTS a day being burned like was suggested to be the sweet spot.

Act today!
We know
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delegate: dev.sidhujag

Offline BunkerChainLabs-DataSecurityNode

That*s why it is good to vote for delegate martin-38ptswarrior-raum
62 percent get burned and you get face-to-face marketing to makers in the wealthy city of Stuttgart, where they invented the car.

Yes.. I find this thread so ironically contrary to this push back in the past to 100% delegates being somehow a boon to bitshares value growth.

Vote for artin-38ptswarrior-raum and vote for http://vote.bunkermining.com .. we got 5 more delegates that need to be voted in that will put 100% of its bts into generating more liquidity, transactions, and users!

We are only short term though.. so once we have the updated infrastructure all done and we reached the profitability we need to move forward we would just start burning the BTS until we got voted out. This would accomplish nearly 30k of BTS a day being burned like was suggested to be the sweet spot.

Act today!
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Offline bytemaster

Fees are averaged over all delegates and not paid entirely to the delegate that produced the block containing the transactions that earned the fee.

This means that about 66% of all fees are burned and 33% are paid to delegates.   

We will be proposing some changes in the future in this regard that should result in more fees being kept out of circulation.
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38PTSWarrior

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That*s why it is good to vote for delegate martin-38ptswarrior-raum
62 percent get burned and you get face-to-face marketing to makers in the wealthy city of Stuttgart, where they invented the car.

Offline xeroc

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Transaction fees also go to the delegates in the same proportion as their % pay, so when you see "Collected fees": 1.63025 BTS and Destroyed Fees: 0 BTS, it means you are looking at a 100% delegate who receives 100% of transaction fees.

ok .. so:

Delegate income = (50 BTS + fee) * payrate

The rest of the fees are burned

That way the numbers make more sense .. thanks for the clarification

Offline svk

Transaction fees also go to the delegates in the same proportion as their % pay, so when you see "Collected fees": 1.63025 BTS and Destroyed Fees: 0 BTS, it means you are looking at a 100% delegate who receives 100% of transaction fees.
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Offline xeroc

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Current system is more favorable to delegates(workers) than shareholders IMO. For instance, 100% delegates collect whole fees from asset creations and transactions. If June update focuses on burning fees, it would be the best.
That's not correct.
Delegates are paid ONLY their payrate*50BTS per block .. no BTS more ..
all most FEEs in the system are BURNED already!!
http://www.bitsharesblocks.com/blocks/block?id=2688165

So where do the collected fees go?

Take a look at blocks # 2688170 and compare to # 2688171 and #2688172

it seems there is a bug in these parameters:
Code: [Select]
  "signee_shares_issued": 150000,
  "signee_fees_collected": 4890,
  "signee_fees_destroyed": 158125,
@vikram ? any idea?

Offline clayop

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Current system is more favorable to delegates(workers) than shareholders IMO. For instance, 100% delegates collect whole fees from asset creations and transactions. If June update focuses on burning fees, it would be the best.
That's not correct.
Delegates are paid ONLY their payrate*50BTS per block .. no BTS more ..
all most FEEs in the system are BURNED already!!
http://www.bitsharesblocks.com/blocks/block?id=2688165

So where do the collected fees go?
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Offline xeroc

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Current system is more favorable to delegates(workers) than shareholders IMO. For instance, 100% delegates collect whole fees from asset creations and transactions. If June update focuses on burning fees, it would be the best.
That's not correct.
Delegates are paid ONLY their payrate*50BTS per block .. no BTS more ..
all most FEEs in the system are BURNED already!!