Author Topic: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners  (Read 58808 times)

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Offline JoeyD

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #105 on: April 10, 2016, 11:35:55 am »
Your question is answered here:
https://bitcointalk.org/index.php?topic=1410943.msg14454864#msg14454864

Hmm, sorry to say, but that scheme sound a little iffy to me. If I understood it right, the founders not only gave themselves a bit of a mining advantage at the start, but also an almost factor 100 pump (in STEEM) right from the get go. Considering the critiques on ripple and nxt, that most likely will not make many friends in the crypto-scene. If a premine is a legal hazard, wouldn't this mechanic be a risky maneuver in that sense as well?

Offline bytemaster

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #106 on: April 10, 2016, 02:16:43 pm »
Your question is answered here:
https://bitcointalk.org/index.php?topic=1410943.msg14454864#msg14454864

Hmm, sorry to say, but that scheme sound a little iffy to me. If I understood it right, the founders not only gave themselves a bit of a mining advantage at the start, but also an almost factor 100 pump (in STEEM) right from the get go. Considering the critiques on ripple and nxt, that most likely will not make many friends in the crypto-scene. If a premine is a legal hazard, wouldn't this mechanic be a risky maneuver in that sense as well?

I am not sure what you mean by 100 pump (in STEEM) ? 

With respect to fees.  To create a new account requires 100 STEEM to be converted to VESTS in the new account.  In effect, there is no "fee", just a requirement to fund the account with a minimum balance of VESTS.

You can think of holding VESTS as owning a percent of available bandwidth, no fees are necessary because you already own the bandwidth you are consuming.
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Offline JoeyD

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #107 on: April 10, 2016, 05:37:21 pm »
I am not sure what you mean by 100 pump (in STEEM) ? 

With respect to fees.  To create a new account requires 100 STEEM to be converted to VESTS in the new account.  In effect, there is no "fee", just a requirement to fund the account with a minimum balance of VESTS.

You can think of holding VESTS as owning a percent of available bandwidth, no fees are necessary because you already own the bandwidth you are consuming.
Keep in mind that I'm only deducing based on the statements I've seen on the bitcointalk-thread. There it was stated that creating a new account for each witness/miner costs not 100 but 1 STEEM converted to VESTS. In the same thread a list is posted of current VESTS-accounts. Looking at the list starting from 1 VESTS downward you see a history of when all miners started producing that very first account. So based on that it seems that at the start it was 1 STEEM for each 1 VEST, but at the time I'm writing this it seems to be 1 STEEM for 0.036788 VESTS and dropping.

Based on the comments in the bitcointalk-thread, this kinda implies that the everyone who transferred at the 1:1 ratio at the start is going to receive 100 STEAM for every 1 of his VESTS. Provided of course that I understood the comments correctly. This deduction is not based on me understanding the code, so I might be missing a couple of important facts.

Offline clayop

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #108 on: April 10, 2016, 06:00:05 pm »
Can I deposit OPEN.STEEM now? If yes, how?
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Offline abit

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #109 on: April 10, 2016, 07:28:25 pm »
Can I deposit OPEN.STEEM now? If yes, how?
Not yet..

Try "get_account_history openledger -1 100" in STEEM and check https://cryptofresh.com/a/OPEN.STEEM_OPEN.BTC & https://cryptofresh.com/u/openledger-wallet, the numbers don't match.
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Offline Troglodactyl

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #110 on: April 10, 2016, 08:54:41 pm »
Is the chain frozen or is it just me?  I'm seeing a head block 9 minutes old:

{
  "id": "2.0.0",
  "head_block_number": 487946,
  "head_block_id": "0007720a7459ca264f0d8d36bbeaf8d1d8053f48",
  "time": "2016-04-10T20:43:42",
  "current_witness": "hermes",
  "total_pow": 2287048,
  "num_pow_witnesses": 103,
  "virtual_supply": "12261564.000 STEEM",
  "current_supply": "12261564.000 STEEM",
  "confidential_supply": "0.000 STEEM",
  "current_sbd_supply": "0.000 SBD",
  "confidential_sbd_supply": "0.000 SBD",
  "total_vesting_fund_steem": "11197510.765 STEEM",
  "total_vesting_shares": "406164.162729 VESTS",
  "total_reward_fund_steem": "975892.000 STEEM",
  "total_reward_shares2": "60578182426832701",
  "sbd_interest_rate": 1000,
  "average_block_size": 118,
  "maximum_block_size": 131072,
  "current_aslot": 495274,
  "recent_slots_filled": "340282366920938463463374607431768211455",
  "last_irreversible_block_num": 487925,
  "max_virtual_bandwidth": "5208434761002210645",
  "current_reserve_ratio": 24398,
  "head_block_num": 487946,
  "head_block_age": "9 minutes old",
  "participation": "100.00000000000000000",
  "median_sbd_price": {
    "base": "0.000 STEEM",
    "quote": "0.000 STEEM"
  },
  "account_creation_fee": "100.000 STEEM"
}

Offline JoeyD

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #111 on: April 10, 2016, 09:01:00 pm »
Is the chain frozen or is it just me?  I'm seeing a head block 9 minutes old:

The chain is frozen for me as well.

Offline BunkerChainLabs-DataSecurityNode

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #112 on: April 10, 2016, 09:01:55 pm »
Yes.. network appears to be frozen due to a discovered bug.

I have attempted to reach out to BM and crew to notify them of the situation.
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Offline dannotestein

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #113 on: April 10, 2016, 11:50:22 pm »
If you're lost on a fork, you can add these checkpoints to your config.ini file in your witness_node_data directory and resync:

 checkpoint = [488069, "0007728505ded84f6eb06f67208ea5221b0a4a63"]
 checkpoint = [488100, "000772a47e6d7a87be5c344b8330fde1ce16015f"]
 checkpoint = [488150, "000772d6f636d3c3de23d8e86846d8177da24c73"]
 checkpoint = [488200, "000773081eba1db265f9b63c0c010a1ff937766d"]
 checkpoint = [488250, "0007733a2e40a3c566d8b24b2089cb9c3f9856a5"]
 checkpoint = [488300, "0007736c68331e05a67261eba31fc8f68edfbbc1"]
 checkpoint = [488350, "0007739e63f85deeade33229aa81bc5a3516a64c"]
 checkpoint = [488400, "000773d081a7f864babcdedfa1c6ff20e8535d19"]
 checkpoint = [488450, "00077402057707c637074b360c2a5d8944737bf1"]
 checkpoint = [488500, "00077434e851a8174beea1b8c867e5262f0fb5c5"]
 checkpoint = [488550, "000774661c96c75b1dc738fe998ba8d94d3bfca6"]
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Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #114 on: April 11, 2016, 03:54:24 am »
checkpoint = [488583, "00077487d7b0d6a013f12de2ed471de9cc7e0078"]

Offline abit

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #115 on: April 11, 2016, 09:17:08 am »
FYI http://steem.secretmoonbass.com/ is a STEEM block explorer made by [member=21903]roadscape[/member]

//Update: new domain name http://steemd.com/
« Last Edit: April 12, 2016, 09:10:59 pm by abit »
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Offline bytemaster

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #116 on: April 13, 2016, 12:22:31 am »
C'mon guys, let's get those VOTES in so we can trade STEEM on bittrex!!

Go to www.slack.bittrex.com to register.
Join the #voting channel
Scroll way up and click on the appropriate reaction associated to STEEM!


It takes just a minute of your time!  Less than 6 hours left in the voting.
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Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #117 on: April 13, 2016, 12:31:33 am »
C'mon guys, let's get those VOTES in so we can trade STEEM on bittrex!!

Go to www.slack.bittrex.com to register.
Join the #voting channel
Scroll way up and click on the appropriate reaction associated to STEEM!


It takes just a minute of your time!  Less than 6 hours left in the voting.

http://www.slack.bittrex.com/

server not found

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #118 on: April 13, 2016, 12:35:56 am »
C'mon guys, let's get those VOTES in so we can trade STEEM on bittrex!!

Go to www.slack.bittrex.com to register.
Join the #voting channel
Scroll way up and click on the appropriate reaction associated to STEEM!


It takes just a minute of your time!  Less than 6 hours left in the voting.

http://www.slack.bittrex.com/

server not found


http://slack.bittrex.com/

After you're registered here's a direct link to the poll post
https://bittrex.slack.com/archives/voting/p1460493047000057

voting ends at 1900PST

Offline thereverseflash

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #119 on: April 13, 2016, 08:03:28 pm »
Anyone looking to have our vote for witness will need to provide a public IP:PORT for a seed node and join #witnesses in steem.slack.com

Once you are in the channel introduce yourself and let us know your Steem account