[ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 22.

libert19

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Quote from: hosseinimr93 on July 24, 2021, 12:32:44 PM

Quote from: libert19 on July 23, 2021, 09:03:07 PM

Can someone refresh my memory on why is holding fee is now taken weekly instead of daily? Not that I'm complaining.

The fee is 0.99% per year and is deducted from your balance once every 10 days.
Of course, Since there are only three decimals for GOLD tokens and the minimum amount that can be transferred in a single transaction is 0.001 GOLD, the percentage is higher for people with small balances.

It was taking out 0.001 gold when it was daily and still its same, both don't end up. Percent rather seems less for small accounts.

taufik123

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Quote from: wwzsocki on July 24, 2021, 02:24:37 PM

-snip-

It's a good idea to do a contest or giveaway, because so far no contest has been held. it also provides a nice update to the development of DIGITAL GOLD.

and feedback for the team, social media such as Twitter must always be updated. Twitter Digital GOLD is suspended and Telegram no discussion can take place.
Digital GOLD promotion on social media is very important.

this is the t-shirt design that I made if you are interested in making your own t-shirt.

wwzsocki

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First 100% Liquid Stablecoin Backed by Gold

Quote from: taufik123 on July 24, 2021, 02:06:11 PM

I even made a custom t-shirt for DIGITAL GOLD.

I want one too!!!

This is really nice looking design and great way to promote Digital Gold project and GOLD token.

Small suggestion to the team, maybe we can have some contests or giveaways with such cool rewards as Tshirts, sunglasses, hoodies with Digital Gold logos and GOLD token on it?

I would go even further and try to implement the new contact address into this design, just a thought @Taufik123?

taufik123

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It's been exactly 2 years since I joined the GOLD TOKEN signature bounty. this is a very extraordinary Bounty, able to survive until now.
I really dedicate my account to continue promoting DIGITAL GOLD.

I even made a custom t-shirt for DIGITAL GOLD.

Wishing you more success DIGITAL GOLD

hosseinimr93

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Quote from: libert19 on July 23, 2021, 09:03:07 PM

Can someone refresh my memory on why is holding fee is now taken weekly instead of daily? Not that I'm complaining.

The fee is 0.99% per year and is deducted from your balance once every 10 days.
Of course, Since there are only three decimals for GOLD tokens and the minimum amount that can be transferred in a single transaction is 0.001 GOLD, the percentage is higher for people with small balances.

libert19

hero member

Activity: 2520

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Can someone refresh my memory on why is holding fee is now taken weekly instead of daily? Not that I'm complaining.

libert19

hero member

Activity: 2520

Merit: 952

Quote from: leea-1334 on July 21, 2021, 02:17:08 AM

Quote from: hosseinimr93 on July 20, 2021, 03:47:40 AM

Quote from: leea-1334 on July 20, 2021, 03:07:49 AM

If this is true, then why do we even have a limit setting by the way? Sorry to diverge from topic:)

That's how ethereum network works.

Note that if you set the gas limit to higher than 21,000, you won't lose anything.
For example if you set the gas limit to 30,000 and the gas price to 100 Gwei, 0.003 ETH is deducted from your balance as transaction fee. Once the transaction is confirmed 0.0009 ETH will return to your wallet.

If there's a token in the transaction, the required gas would be higher than 21,000.
Since the extra gas will return to your wallet, it's recommended to set the gas limit to higher amounts to not lose money.

Let's say a token transaction needs 80,000 unit of gas.

If I set the gas limit to 50,000, the transaction won't be confirmed and I will lose the 50,000 unit of gas.
If I set the gas limit to 100,000, 80,000 unit of gas is consumed and the extra 20,000 unit of gas will return to my wallet.

But it still does not make sense, to give the user the option of possibly losing the unit of gas? Why not just charge the gas that is needed and don't let anyone change that limit, right? I still think my question is valid: why have a limit setting if you could lose gas by entering a wrong one? Gas price should be the only thing we be allowed to change...

So, I read about it a little bit and figured each block has limit for the total gas that can be spent on the transactions contained within a block.

if they were to set 200k default for all transactions (including ether) then network might get congested, since transactions still need to execute and return the extra gas.

I could be wrong tho, take this as grain of salt.

leea-1334

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Quote from: hosseinimr93 on July 20, 2021, 03:47:40 AM

Quote from: leea-1334 on July 20, 2021, 03:07:49 AM

If this is true, then why do we even have a limit setting by the way? Sorry to diverge from topic:)

That's how ethereum network works.

Note that if you set the gas limit to higher than 21,000, you won't lose anything.
For example if you set the gas limit to 30,000 and the gas price to 100 Gwei, 0.003 ETH is deducted from your balance as transaction fee. Once the transaction is confirmed 0.0009 ETH will return to your wallet.

If there's a token in the transaction, the required gas would be higher than 21,000.
Since the extra gas will return to your wallet, it's recommended to set the gas limit to higher amounts to not lose money.

Let's say a token transaction needs 80,000 unit of gas.

If I set the gas limit to 50,000, the transaction won't be confirmed and I will lose the 50,000 unit of gas.
If I set the gas limit to 100,000, 80,000 unit of gas is consumed and the extra 20,000 unit of gas will return to my wallet.

Thanks. I had no idea, even though have been using ETH for a while. I got a very different explanation from before. I never realized that the transaction fee was first removed, then returned as a balance, I never saw this in the transaction details.

But it still does not make sense, to give the user the option of possibly losing the unit of gas? Why not just charge the gas that is needed and don't let anyone change that limit, right? I still think my question is valid: why have a limit setting if you could lose gas by entering a wrong one? Gas price should be the only thing we be allowed to change...

hosseinimr93

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Quote from: leea-1334 on July 20, 2021, 03:07:49 AM

If this is true, then why do we even have a limit setting by the way? Sorry to diverge from topic:)

That's how ethereum network works.

Note that if you set the gas limit to higher than 21,000, you won't lose anything.
For example if you set the gas limit to 30,000 and the gas price to 100 Gwei, 0.003 ETH is deducted from your balance as transaction fee. Once the transaction is confirmed 0.0009 ETH will return to your wallet.

If there's a token in the transaction, the required gas would be higher than 21,000.
Since the extra gas will return to your wallet, it's recommended to set the gas limit to higher amounts to not lose money.

Let's say a token transaction needs 80,000 unit of gas.

If I set the gas limit to 50,000, the transaction won't be confirmed and I will lose the 50,000 unit of gas.
If I set the gas limit to 100,000, 80,000 unit of gas is consumed and the extra 20,000 unit of gas will return to my wallet.

leea-1334

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Nice to hear about L2 OP. Please consider a DEX aggregator like I mentioned above:)

Quote from: hosseinimr93 on July 19, 2021, 06:04:59 AM

Quote from: libert19 on July 19, 2021, 05:41:21 AM

I'm not sure if it works like that as gas fee and gas limit are both different things.

Correct.
A high gas price can't make the transaction confirmed if you have set the gas limit to less than the required gas.

I did not know know that. I have some times in the past set my gas limit to less than 21000,,, but I admit I am no longer ETH active so do not know the problems now,,, Sorry for that. What happened for me in the past is I used the default my wallet gave me but I lowered the limit and made a higher fee,,, It used to work but honestly I did not know 21000 was the limit. Now checking my old transactions indeed all the gas used is higher than 21000 so I guess my wallet used to put a high limit.

If this is true, then why do we even have a limit setting by the way? Sorry to diverge from topic:)

hosseinimr93

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Quote from: libert19 on July 18, 2021, 09:56:57 PM

For ether transfers 20k gas limit and for eth tokens 200k, it always uses gas as necessary so you don't lose extra even if you put more numbers.

In any ethereum transaction (a transaction in which no token is involved), 21,000 unit of gas is consumed.
The transaction won't be confirmed if you set the gas limit to 20,000.

Quote from: libert19 on July 19, 2021, 05:41:21 AM

Quote from: leea-1334 on July 19, 2021, 03:04:54 AM

You can do it the other way around and just pay a higher fee and set lower limits:)

I'm not sure if it works like that as gas fee and gas limit are both different things.

Correct.
A high gas price can't make the transaction confirmed if you have set the gas limit to less than the required gas.

libert19

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Quote from: leea-1334 on July 19, 2021, 03:04:54 AM

Quote from: libert19 on July 18, 2021, 09:56:57 PM

For ether transfers 20k gas limit and for eth tokens 200k, it always uses gas as necessary so you don't lose extra even if you put more numbers.

You can do it the other way around and just pay a higher fee and set lower limits:)

I'm not sure if it works like that as gas fee and gas limit are both different things.

GOLD_official

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Quote from: leea-1334 on July 19, 2021, 03:04:54 AM

Quote from: libert19 on July 18, 2021, 09:56:57 PM

For ether transfers 20k gas limit and for eth tokens 200k, it always uses gas as necessary so you don't lose extra even if you put more numbers.

You can do it the other way around and just pay a higher fee and set lower limits:)

By the way speaking of,,, why are you guys not on one of those Layer 2 stuff like Polygon yet?

Or better still, jump onto one of those AMM aggregators like PlasmaFinance of 1inch (then you get connected to all those other Unis/Sushis anyway plus get Polygon's advantages.

Personally still think defi is a bit nonsense but I do like the 2 cent fees on all these new platforms.

Dear leea-1334,

We are considering various options, including the Layer 2 protocols connection. Follow the news.

Regards,
Support Team @ Digital Gold
https://gold.storage

leea-1334

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Quote from: libert19 on July 18, 2021, 09:56:57 PM

For ether transfers 20k gas limit and for eth tokens 200k, it always uses gas as necessary so you don't lose extra even if you put more numbers.

You can do it the other way around and just pay a higher fee and set lower limits:)

By the way speaking of,,, why are you guys not on one of those Layer 2 stuff like Polygon yet?

Or better still, jump onto one of those AMM aggregators like PlasmaFinance of 1inch (then you get connected to all those other Unis/Sushis anyway plus get Polygon's advantages.

Personally still think defi is a bit nonsense but I do like the 2 cent fees on all these new platforms.

libert19

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Quote from: wwzsocki on July 17, 2021, 04:12:40 PM

Quote from: GOLD_official on July 17, 2021, 03:29:58 AM

Please use more gas, around 90k to complete the transaction.

I tried again with 95k gas as requested but still no luck.

For ether transfers 21k gas limit and for eth tokens 200k, it always uses gas as necessary so you don't lose extra even if you put more numbers.

Edit (thanks to @hosseinimr93), I mistakenly wrote 20k instead of 21k.

the rise

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The coin with a very strong backup is GOLD. Gold is one of the invincible and indestructible assets until any time. and here I see the GOLD token backed up by real gold. it makes sure that this is a suitable coin to invest in for the future.

wwzsocki

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First 100% Liquid Stablecoin Backed by Gold

Finally transaction was accepted with 105000 gas limit

https://etherscan.io/tx/0x147a907081029cff1182efb94a4c2b6b2e1d8324d648d7175d631d3e6b50500c

Also transaction was confirmed and ETH transferred to my wallet just after as it always was.

Thank you Digital Gold team, confirmed everything works, only gas limits needs to be slightly higher, recommended above 100K gas limit to set up before transaction.

wwzsocki

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First 100% Liquid Stablecoin Backed by Gold