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Topic: [ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch) - page 14. (Read 133052 times)

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

I just checked into the mining difficulty and am happy to see that it is now back to where it was when we were mining full STEEM ahead. The queue length is fluctuating between 100 and 104

Here is the current miner queue. It looks like there are a couple major miners (tombstone, aka puppies). Glad to see a variety of people mining this.

[
"tombstone30",
"tombstone86",
"nextgencrypto101",
"ani625",
"dele-puppy",
"tombstone48",
"fortunescape",
"tombstone67",
"hsbc",
"tombstone70",
"btstools8",
"disney",
"justin",
"diaphanous",
"fantasy",
"hephaestus",
"sexvideo",
"citibank",
"tombstone96",
"books",
"klm",
"enki5",
"tombstone50",
"drunchpunk4",
"simpson",
"hr301",
"fury",
"blackjack-1",
"tombstone26",
"summon",
"enki3",
"gil",
"soupper30",
"hr101",
"tombstone53",
"tombstone35",
"silver1",
"tombstone60",
"softbank",
"anna",
"btstools2",
"tombstone36",
"kitten",
"soupper5",
"tombstone49",
"princess",
"tombstone20",
"try2",
"soupper31",
"coldstorage16",
"cyrano",
"abderus",
"delegate.lafona",
"hr302",
"tombstone51",
"bunkermining",
"tombstone37",
"try3",
"wayfairer2",
"butterfly",
"soupper43",
"enki40",
"commedy",
"admin",
"theoretical",
"soupper39",
"soupper25",
"tombstone52",
"firesidechat",
"tombstone22",
"ihash",
"soupper12",
"nnnn",
"expir4",
"jigglypuff",
"brianna",
"tombstone54",
"soupper32",
"steempty",
"nnnn2",
"juna",
"hr303",
"coldstorage13",
"coldstorage14",
"americanpegasus",
"troglodactyl",
"tombstone80",
"tombstone71",
"try",
"tombstone46",
"tim4",
"dark",
"elixir",
"aquarius.com",
"anonymous",
"galaxy",
"soupper36",
"wackou2",
"tombstone90",
"hr304",
"chatterbox",
"dantheman"
]

drays

legendary

Activity: 2548

Merit: 1073

Quote from: SalimNagamato on April 05, 2016, 12:46:19 PM

Quote from: thereverseflash on April 05, 2016, 12:29:32 PM

Quote from: ?? on ??

interesting
so this is like AMP rival, but STEEM with an already functioning own blockchain ?

So here is something that is on topic, not abusive, and yet gets deleted by a forum moderator? What am I missing?

deleted by self... apologies
didn't want unwanted speculations

You deleted your own post, thats ok. But someone deleted the answer too (the emoji). So there is some forum moderator around having too much free time to spend? Grin

SalimNagamato

legendary

Activity: 924

Merit: 1000

Quote from: thereverseflash on April 05, 2016, 12:29:32 PM

Quote from: ?? on ??

interesting
so this is like AMP rival, but STEEM with an already functioning own blockchain ?

So here is something that is on topic, not abusive, and yet gets deleted by a forum moderator? What am I missing?

deleted by self... apologies
didn't want unwanted speculations

STEEMD

member

Activity: 83

Merit: 10

Quote from: thereverseflash on April 05, 2016, 12:29:32 PM

Quote from: ?? on ??

interesting
so this is like AMP rival, but STEEM with an already functioning own blockchain ?

So here is something that is on topic, not abusive, and yet gets deleted by a forum moderator? What am I missing?

Are we going to have a steemit forums ? perhaps on the blockchain ? Wink

Bubba-Gump

newbie

Activity: 39

Merit: 0

Quote from: thereverseflash on April 05, 2016, 12:29:32 PM

Quote from: ?? on ??

interesting
so this is like AMP rival, but STEEM with an already functioning own blockchain ?

So here is something that is on topic, not abusive, and yet gets deleted by a forum moderator? What am I missing?

1. They want more content than an emonji.
2. The original post about AMP could be seen as spam. If the poster had outlined the similarities and differences between the two projects, it probably would not have been deleted.

The question is who reported it because they won't delete anything that isn't reported.

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: ?? on ??

interesting
so this is like AMP rival, but STEEM with an already functioning own blockchain ?

So here is something that is on topic, not abusive, and yet gets deleted by a forum moderator? What am I missing?

drays

legendary

Activity: 2548

Merit: 1073

Was just reviewing the blockchain on idle, found this:
"174444 a76ba297c7777096bd542901536e02cd20159807 comment {"parent_author":"","parent_permlink":"meta","author":"steemit","permlink":"firstpost","title":"Welcome to Steem!","body":"Steemit is a social media platform where anyone can earn STEEM points by posting. The more people who like a post, the more STEEM the poster earns. Anyone can sell their STEEM for cash or vest it to boost their voting power.","json_metadata":""}"

Block 174444 is from March 30. there were hints posted in the chain at moderately early stages..

Actually looking there now, I can see there were loads of hints of different kind, so only being busy (and lazy) could be an excuse for jumping too late on this..

abitmore

newbie

Activity: 20

Merit: 0

Hello, this is abit from BitSharesTalk. Due to helped revive BitShares network twice, my witness "in.abit" on BitShares network has the lowest block missing rate, far below average (see https://bitshares.org/wallet/#/explorer/witnesses, click Explore -> witnesses if see a login page). I'm interested in running a witness in Steem when the DPOS phase comes. I fixed a few bugs inside Graphene code base recently, am currently working on building features for BitShares by expanding Graphene code base, perhaps I can help with developing Steem some day.

NextGenCrypto

sr. member

Activity: 462

Merit: 250

Quote from: wackou on April 04, 2016, 05:42:00 AM

I have been a BitShares witness for the past 2 years, and have developed the bts_tools (http://bts-tools.readthedocs.org/en/latest/ and https://github.com/wackou/bts_tools), a suite of python tools to help build, run and monitor witnesses on a graphene chain. It already supports BTS2 and Muse, and I plan to port it to Steem too. This of course means that I'm interested in running for a Steem witness when the DPOS phase kicks in Wink

I started mining steem this weekend and read up a bit on it, looks intriguing!

Just came across your post, looks like you've created some great tools. I look forward to being able to use them for STEEM in the future.

liondani

member

Activity: 97

Merit: 10

Inch by Inch,Play by Play

Quote from: thereverseflash on April 04, 2016, 05:51:32 PM

Most of this will flow to VESTS which means that most of the "inflation" is more of a stock-split than true inflation. This means that 90% of all inflation does not reallocate wealth. Which leaves us with a mere 10% of inflation resulting in redistribution of ownership.

Is this guaranteed? Huh

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: Bubba-Gump on April 04, 2016, 05:17:37 PM

Quote from: thereverseflash on April 04, 2016, 01:06:05 PM

Quote from: drays on April 04, 2016, 07:15:46 AM

Quote from: seedtrue on April 03, 2016, 10:35:38 PM

Since the amount of VESTS is now more than 90% of STEEM, does this mean you will not get back as much steem if you buy VESTS as you would have if you just kept them?

As far as I can see, it is not 90% yet. More like 86-87% at the moment if I understand this stuff correctly.

You are correct. It will not go above 90% unless people with STEEM explicitly convert to VESTS. Absent any transactions the amount of STEEM held in VESTS will always move TOWARD 90%

I have a couple of questions.

Here's what I understand.

Code:

"virtual_supply": "5522844.000 STEEM",
  "current_supply": "5522844.000 STEEM",
  "confidential_supply": "0.000 STEEM",
  "current_sbd_supply": "0.000 SBD",
  "confidential_sbd_supply": "0.000 SBD",
  "total_vesting_fund_steem": "4826044.000 STEEM",
  "total_vesting_shares": "389357.483375 VESTS",
  "total_reward_fund_steem": "638980.000 STEEM"

Here the STEEM in the vesting fund (total_vesting_shares) is 4826044.000 STEEM, and the total supply (current_supply) is 5522844.000 STEEM

This ratio is 0.874, or 87.4%. It will gradually drift to 90% if no one buys new shares.

First Questions: How is this drift calculated? What is the formula for the update cycle?

As new STEEM is added to the money supply, the amount of STEEM in the vesting fund will increase accordingly.

Second Question: How do you calculate the value of your vests in terms of STEEM?

My guess:

If you want to see what your vests are worth, valued in STEEM at, you calculate:

total_vesting_fund_steem * your_vesting_shares / total_vesting_shares

(I fixed this formula in edit.)

I have some other questions.

(1) How many witnesses can each vest vote for?
(2) Is it impossible for someone to dilute your vests? I think not because total_vesting_shares will never grow faster than current_supply. Correct?

This is how much STEEM you would have if your could instantly convert your VESTS back to STEEM. It will only ever increase.

   yoursteem = total_vesting_fund_steem * your_vesting_shares / total_vesting_shares

This is how you calculate the percent of STEEM held by the VESTING account:

  total_vesting_fund_steem / current_supply == 87.3%

This is how you calculate the liquid STEEM held in user accounts:

   current_supply - total_reward_fund_steem - total_vesting_fund_steem
   5522844 - 4826044 - 638980 = 57,820 = 1%

On July 4th, 2016 the total_reward_fund_steem will be converted into SBD and VESTS and distributed to user accounts.

The conclusion we can draw from this is that the amount of STEEM that is able to hit exchanges any time soon very small.

The easiest way to visualize how the blockchain maintains equilibrium between liquid STEEM and VESTS is to imagine two glasses of water with a constant flow of new water into each glass in a 9:1 ratio. If you let the water run for long enough it will re-balance the ratio of water in two glasses to about 9:1 regardless of the initial ratio.

How long it takes to balance depends upon the initial quantity of water, the initial ratio, and the rate of flow.

If you start out with a 1M : 9M ratio and add water in at a rate of 9:1 per second then after 11.5 days you will reach a 10M : 10M ratio. After another 11.5 days you will reach a 19M : 11M ratio.

The long-term rate of flow is to grow the supply by 113% per year. Most of this will flow to VESTS which means that most of the "inflation" is more of a stock-split than true inflation. This means that 90% of all inflation does not reallocate wealth. Which leaves us with a mere 10% of inflation resulting in redistribution of ownership.

NextGenCrypto

sr. member

Activity: 462

Merit: 250

Quote from: thereverseflash on April 04, 2016, 05:17:08 PM

Steem will soon be available on BitShares in this market.

https://bitshares.openledger.info/#/market/OPEN.BTC_OPEN.STEEM

This exchange pair is brought to you by Open Ledger (aka. CCEDK).

If you want to trade for FIAT you can also trade this pair:

https://bitshares.openledger.info/#/market/OPEN.USD_OPEN.STEEM

You can place bids in these markets while we wait for Open Ledger to enable STEEM deposits / withdraws.

Great news, very cool guys!

puppies

member

Activity: 69

Merit: 10

Quote from: thereverseflash on April 04, 2016, 05:17:08 PM

Great news. Thanks for the update.

Bubba-Gump

newbie

Activity: 39

Merit: 0

Quote from: thereverseflash on April 04, 2016, 01:06:05 PM

Quote from: drays on April 04, 2016, 07:15:46 AM

Quote from: seedtrue on April 03, 2016, 10:35:38 PM

Since the amount of VESTS is now more than 90% of STEEM, does this mean you will not get back as much steem if you buy VESTS as you would have if you just kept them?

As far as I can see, it is not 90% yet. More like 86-87% at the moment if I understand this stuff correctly.

You are correct. It will not go above 90% unless people with STEEM explicitly convert to VESTS. Absent any transactions the amount of STEEM held in VESTS will always move TOWARD 90%

I have a couple of questions.

Here's what I understand.

Code:

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: drays on April 04, 2016, 07:15:46 AM

Quote from: seedtrue on April 03, 2016, 10:35:38 PM

Since the amount of VESTS is now more than 90% of STEEM, does this mean you will not get back as much steem if you buy VESTS as you would have if you just kept them?

As far as I can see, it is not 90% yet. More like 86-87% at the moment if I understand this stuff correctly.

You are correct. It will not go above 90% unless people with STEEM explicitly convert to VESTS. Absent any transactions the amount of STEEM held in VESTS will always move TOWARD 90%

drays

legendary

Activity: 2548

Merit: 1073

Quote from: seedtrue on April 03, 2016, 10:35:38 PM

Since the amount of VESTS is now more than 90% of STEEM, does this mean you will not get back as much steem if you buy VESTS as you would have if you just kept them?

As far as I can see, it is not 90% yet. More like 86-87% at the moment if I understand this stuff correctly.

drays

legendary

Activity: 2548

Merit: 1073

Quote from: Bubba-Gump on April 03, 2016, 11:48:55 PM

Where did I lie? I think I missed it. I helped several selflessly earlier by the way, and did so when there was nothing in it for me except added mining competition.

Yeah, no wonder you missed it, moreover those posts are gone and deleted now

In any case it is not worth to bring a citations and open a unhelpful and unneeded discussion here.
Related to your help - sure its hard to deny, while misleading folks in general, you helped persistent ones (including me) with valuable technical advises. If only your contribution were limited to that, I would have told you are a selfless altruistic person, who is worth all kind of respect and trust

No reason to continue this debate, we can close it now. I hope/suppose you will not show your 'dark side' here from now on, and that is ok with all us.

wackou

newbie

Activity: 1

Merit: 0

I started mining steem this weekend and read up a bit on it, looks intriguing!

thereverseflash

member

Activity: 70

Merit: 10

I'll be able to change everything!

Quote from: Bubba-Gump on April 03, 2016, 07:36:12 PM

Quote from: hrossik on April 03, 2016, 07:04:35 PM

Guys, do you know, whether it's necessary to have different private keys for each miner, if I am mining on 1 machine on multiple threads?

Do not start multiple instances with the same key, either on the same machine or different machines.

You can have as many threads as you want on a single instance with the same key.

The signature nonce is constructed by the signing key and the thread number. Different instances will have the same thread numbers (1, 2, 3, etc.)

Your best bet is for each steemd you run, you need to have a different key. If in doubt make a different key.

I haven't looked to see if the devs fixed this yet.

Bubba, thanks for providing a positive contribution. I would kindly suggest that you rectify your standing in the Steem community by removing your earlier posts.

We would like to cultivate a positive, encouraging, and honest community that is welcoming to all.

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