Topic: [FINISHED] 🔥🔥 COINSLOTTY SIGNATURE CAMPAIGN – 100$ p/w, funds escrowed 🔥🔥🔥 - page 3. (Read 3706 times)

Payments for Week 2 have been sent.
Tx. id: 695670ee1649c61906417e16628bca8cfcec1210cb27abfb0549d3f6960e70c7
We used current rate of 1BTC = 26925 USD

Dear campaign members,

we'd just like to remind you that there are some decent bonus rewards waiting to be won as well!


Thanks for all your work in the campaign so far!

Payments for Week 1 have been sent.
Tx. id: ef1b0170b9bd7c950edf295057567054be1e8a65b4ec7f4cc5f1981bf62c9b1b
We used current rate of 1BTC = 26898 USD

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First week has passed, there are a couple of people with very low post counts but that is ok since we prefer quality over quantity every time. Keep up the good work

That is when you have a creative mind and you can apply it even to stuff like choosing your username. Now I am wandering what other cool nicks I could have chosen

Way to go SirJohnVonSlotty, I even knew your name and did not realize SirJohn part of it before you told us.

What a unique way to choose a username. You were damn lucky because you had alot of freewill to choose unlike me who settled for a 3 letter word because my preferred username was already taken

Damn, this is stunning! Lol, now I am really jealous!

Having a name that sounds like Sir John, without actually having to be snooty and divorced from reality, you have all rights to tell people to call you "Sir John". That's amazing!  The "Von" is the cherry on top of what is already supposed to be a cherry on top.

I can tell you I was less lucky than you in that regard...

SirJohn is how you actually pronounce my name, I'm Croatian so we have weird letters and it's hard to figure it out without adding some examples, and the easiest way to introduce myself and the pronunciation of my name is to tell people to imagine a British knight called Sir John, and then remove the space in-between and just say "srjohn" - and bam, there it is

The Von came from my surname, because the surname (when applying the same logic) would then be pronounced as VonIch in english (ich like itch in english, not ich like "me" in german).

After that, every time I would take up a project that would require nicknames, I would name myself SirJohnVon[insert-project-name]

Right now I'm working on this project, so naturally it ended up as SirJohnVonSlotty

I fully concur with both of you. And even if we have a lively discussion, there is no need to believe that I would think Trofo and Frka aren't trustworthy. I trust them. I participate in this signature campaign, I am part of the competitions they run. Wouldn't do that otherwise. This wasn't about trust, this was only about a technical tx fee issue. I am not that bad at distinguishing between one and the other.

As I mentioned before, of course I agreed to the full flexibility option for the payouts because I do understand what this is all about and that you aim to reduce the fees as much to the benefit of everyone. I provided the calculation because I don't know how many are aware of how the calculation works. Sometimes it's helpful also for those who had to provide their vote here. I do know if you open your wallet and see the fee, you are shocked these days (not so much right now anymore). But it is not as bad as someone could think if transactions are sent to all recipients at once.

All good and @Trofo, as I am going to win the BSFL semifinal, you'll earn some money from the bet you placed on me. Maybe you get yourself a cold beer and I will do the same!

@SirJohnVonSlotty, every time I read your nickname, I wonder what the thought process or reasons were that made you came up with that one? It's intriguing, I am a bit jealous!

I went through both your initial statement and Trofo's reply, and I don't see it as an attack from his side, I think you just misunderstood his reply I'm chatting with him a lot and sometimes he's short on words when he's typing over his phone, and simple sentences can be misunderstood easily.

I just want to make sure that everyone here knows that we will find a solution to this and that I fully trust Trofo and Frka with the deal, no one is here to argue or create some type of drama out of this, we just want to launch our first signature campaign with as less stress as possible.

Sorry if it looked like I am attacking or anything. Just tried to explain the situation. I am always up for discussion and exchange of opinions, feel free to challenge any of my posts/opinions as much as you like.

I am writing on mobile with bad connection while solving some let's call them not smartest comments on my real life job so maybe I am projecting 

Wow, I didn't feel like you would deem this an attack, not even for a second. You don't need to "prove my point" because that is not what I wanted to achieve. I did the maths to provide a practical example with good intentions.

But hey, always needs some talk before you know how the real Trofo works! I am ok with that.  

And of course I voted for full flexibility as I am the last who wants the worst. Weird that you perceive it that way.

Thank you @cryptofrka (https://bitcointalksearch.org/topic/m.62225349) and @Trofo (https://bitcointalksearch.org/topic/m.62226598) for shedding light to this. I was initially sceptical about the whole thing, but your patient explanations have put that to rest.

Knowing our minds through voting is a very good idea during the time of a congested Mempool. And from what I understand, everyone's voting decision would still be respected regardless, even as you prioritise the weekly payments depending on the situation. It's a brilliant idea for all parties.

Thanks for not putting us in the dark!

Not important sice we would never send single transactions. Chances are minimal that we will do anything but weekly payments for whole campaign but we wanted to collect data to see our options in case things get worse. Imagine 5 people prefer weekly payments and 5 monthly. That saves us tx money for sure and keeps everyone happy.

If you insist on doing data to the byte than you have to account for actual situation. Our wallet is multisig, means longer addy means more bytes. We have 2 UTXO for 3 months of funds but we will use coin control and join them on some week that fees are low, even though we would prefer to do it this week and get it over with. This actually helps prove your point but as I said not that important since we are never gonna use single transactions.

We gave it for a vote thinking what we would have preferred in situation like this. For instance I know I would choose monthly payments to minimize number of UTXOs on my personal wallet. 3 months of weekly payments gives you 12 inputs. While montly payments give you just 3.

All of us have provided P2WPKH addresses, which leads to 31 byte per output. If you send a transaction to 10 people, that is 310 byte. The inputs are a bit bigger, in the case of icopress sending to 65 addresses, he used two inputs. Let's assume we use two inputs at 68 bytes each. On top is some minor stuff, we neglect that.

That is

310 bytes + 136 bytes, putting us at roughly 450 bytes. Even if the fees are nuts and are around 300 sats per byte, that would cost less than 40 USD. Most transactions go through using around 100 sats or even less right now and if a little bit of patience is ok for everyone, it can be even less than that.

But if you send single transactions, you have the bytes from the input(s) every single time. For 10 recipients, the inputs alone put you at 680 bytes, assuming you can use single inputs per output. It could be even worse. 10 x 68 bytes = 680 bytes ONLY the inputs from sending funds to everyone individually. Even the dust from metadata comes into play then. It would in a very best case scenario be at least twice as expensive if the funds are sent individually. I guess it is closer to 2.5x, 990 bytes + some dust 10x.

Just my two bytes

Just to add - even if you all vote for monthly payments, we'd still process them weekly if the situation is normal.

Weekly payment is a forum standard we're not trying to change, we're just trying to collect input from our campaign members to see how much wiggle room we've got in highly unusual situations.

The only purpose of it is to give as much of the funds received back to the community to make both the campaign members and the employer happy.

Funds are escrowed on our wallet, there is link in the OP where anyone can check it if they want to

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Thanks for all the inputs but main point of my above post was to get preferred way of payments from the 10 people that are part of this campaign. So if you are one of the 10 please just fill the form.

We would never had this conversation if mempool wasn't congested and its purpose is to ease our decision if we see extremely high fees when making payment. Money is already on our wallet and it will be used to the last cent for this campaign. Both Coinslotty and every participant should be happier if it isn't used on fees If all you opt for weekly payments we will just pay them weekly maybe a day later if there is peak in congestion. If all of you choose monthly we will look at broader things and not pay such close attention to local peaks and just pay out when situation calms down.

Please also consider the paragraph where I tried to explain the increased cost of your future transactions if your balance is made up of many UTXO before voting.

Today was a good day for mempool and it seems like things are getting back towards normal.

If funds are already escrowed like I think they are, than there should be no issue in waiting for payments on days when fees are lower.
This was usually during weekend but at the moment we can't predict exact situation and I think safer option is to have monthly payments, or whenever fees get low enough.
I am expecting another big jump in fees in near future because Bitcoin developers started working on disabling future ordinals, that means people will probably print a lot of ''tokens''soon

Since fees are now already going down pretty quickly again, I would propose to just send the reward weekly, as it is usual. If the fees however rise till the next payday, for me it would be alright to just hold the payment until the fees are at an acceptable level again. This could in my opinion be up to one month.

I would like to provide a reference point here: icopress made the last payment for the MixTum campaign yesterday and he sent to 65 addresses for a fee of 61.97 USD at a time when the network was extremely congested. It took the payment 20 hours or so to be confirmed.

In my humble opinion I think we can just observe the network, not push for a timely transaction and see if we get a chance to send it out at a reasonable fee to all at once. If it's two weeks until it is cheaper, I am fine with that, no problem. But we should not send to everyone individually. This obviously makes no sense (unless someone wishes so, of course). On average, the recipients in the transaction provided above paid an average of less than 1 USD (MixTum paid for it, but you get the point in terms of numbers).

This is official Coinslotty signature campaign, there is couple of us that are wearing signature from before but we all have our own deals. They may or may not be the same and those deals have nothing to do with Cro2. We are running the campaign and safekeeping the money for this 10 members that are mentioned in the sheet. Everything else was agreed before and has no direct links to this campaign.