Topic: OLD FLY THREAD - page 26. (Read 163654 times)

So just to be clear anyone who holds 100 to 5000 FLY is eligible for SuperFLY Wallet rewards or something like that?

100% Correct , You Got it!!! 

 

Solution:
add another address type to the enum in CBitcoinAddress class in base58.h
have the wallet running in an exchangewallet mode use that enum for addresses, the addresses from exchange wallets using this selection from the enum will use a different address formatting than standard user wallet so they are easily identifiable by the network. the new exchange addresses will have a different and for the most part higher fee structure when receiving coins but be exempt from fees when sending coins. since all wallets will have the code there is no need for special nodes.

this solves the free withdrawal problem, and keeps the anti-dumping system in place.
problem solved

staking -> non-staking = Fee
staking -> staking = Fee

non-staking -> non-staking = Free
non-staking -> staking = Free

did i get that right?

OK ,

Refer to the addresses as staking or non-staking instead of normal, it will avoid confusion.

In my idea there are 2 type address,
Staking Address & Non-Staking Address

If I have 1000 coins in my staking address and send out to the exchange or even another address staking or non-staking, then the antidumping fee is charged as the transaction fee and sent to the Superflywallet.

If I have 1000 coins in my non-staking address , I can send to the exchange or even another address staking or non-staking , when no antidumping fees charged.
This also allows me to make a paper wallet without the fees.
or If an exchange to the cold wallet without fees.

What you need to realize is , I only pay antidumping fees when sending out from the staking address.

As far as the 1000 coins in the non-staking address , none were created there, I had to buy them on the exchange , if so it is no different , than if I had purchased 1000 coin on the exchange and let them sit, and just sold whenever the price went higher.
FYI: The antidumping fee has no effect in any version , if I just leave the coins on the exchange and sell/dump later, nothing can stop this if you allow an exchange.

If I staked the 1000 coins in my staking address and send them to my non-staking address in my own wallet, I am charge the antidumping fees,  But if I then send those coins from that non-staking address to the exchange, I am not being hit with the antidumping fee twice.

Clear?
 

FYI:
The antidumping fee only stop someone from staking and dumping all of the excess coins while keeping their principle amount.
When coins are stored in the non-staking address, they do not gain interest and when I sell , I lose that amount , and can not sell/dump continuously.

i dont understand then. if you have a normal address with all your... lets say 1000 FLY. with the tx fee. but you send to a no stake address. you pay no fee because you said they dont have a fee when receiving. so that tx is free and you still have 1000 FLY. so then you send those coins to an exchange. no stake address is sending. so tx is free. exchange recieves 1000 FLY. then you dump. and paid no fees. your no staking address MUST have recieve fees otherwise the system just has no fees unless you send normal addr to normal addr. but if thats the only tx that ever has fees. why would you?

which is why i said the only difference is the staking aspect. cuz no fees when sending or receiving doesnt work.


edit: im going to go on a leap here and assume you are going to say then you need to charge a fee when sending to an exchange. but then you need to have the rules i had anyway about getting a fee when receiving coins to a non stake address since thats the whole point of a second address. to tell which addresses are on exchanges.

There is one major difference between our ideas.
In yours :
the new exchange addresses will have a different and for the most part higher fee structure when receiving coins

In my idea,
the non-staking wallet does not have any fees for sending or receiving coins.

Team Fly will need to choose one.

 

FYI:
If there is a higher fee structure for receiving on the exchange address, then there is really no point , as it still has a penalty.
Also if you send from the address with the antidumping fee, won't you be charged a 2nd fee by your exchange address when cryptopia receives it.
(Too Much like Double Taxation)

So our ideas only real similiarly , is a separate address type is created, but from there we diverge.
As your separate address still has a penalty where as mine has no penalty , which makes it viable for the reasons I post earlier,  
and yours would not.  


FYI:
Don't forget to let Vegas know,
Fly will need a checkpoint server.

Thank you kiklo!!!

You have saved me from soo much typing and explaining.  I agree with your approach and idea.

My problem is I am not respected from the FLY 'Collective' because I read more than I post on this forum...  and therefore no Hero badge by my handle.

I am glad to see someone else understands trading dymanics and general business models.  I was starting worry there was only script kiddies running coins...

FYI:
If there is a higher fee structure for receiving on the exchange address, then there is really no point , as it still has a penalty.
Also if you send from the address with the antidumping fee, won't you be charged a 2nd fee by your exchange address when cryptopia receives it.
(Too Much like Double Taxation)

So our ideas only real similiarly , is a separate address type is created, but from there we diverge.
As your separate address still has a penalty where as mine has no penalty , which makes it viable for the reasons I post earlier,  
and yours would not.  

a lot of traders dont do enough volume to want to have to pay to be a member of the exchange. thats why im in the position of free exchanges but they get to stake. i wouldnt pay any exchange money to use them. id just stick to only btc and use coinbase and stuff if i had to pay monthly to trade altcoins.

Problems with only an exchange being allowed to have non-staking addresses, is the following:
It does not let users store fly in paper wallet without suffering the penalty.
It does not allow any real commercial use of the coin ,without that its appeal will be limited.
One Important difference if you hold your coins in a non-staking address in your own wallet instead of leaving them on the exchange is, if the exchange goes under, your coins are not lost with it.

 

exchanges werent the only ones allowed to use the exchange address with my proposal. i was just calling it an exchange address because it was designed for the exchanges to have no withdrawl fee in it. everyone always had the option to set thier wallet with exchangewallet=1 and create one of those addresses. i am 100% AGAINST storing coins on an exchange. its such a stupid idea. the most i ever hold on an exchange at a given time is .2BTC cuz thats the most im willing to lose. the whole point was to have a user withdraw off an exchange to a normal wallet. (normal wallet because originally i had it so if you send from 1 exchange to another you still pay a fee. but this was brought up in the FLYTEAM chat that this is a bad idea for hot wallets and cold wallets so i correct that point).

Exchanges surviving and prospering is another debate, in fact the answer to that is simple, they need to charge transactions fees per trade,
but what they are failing to do currently is what the normal stock exchanges do.
All Stock exchanges also charge a fee for you to be a member of their exchange before you can trade, even the low cost range from $8 to $20 per month.
Crypto exchanges need to do the same if they want to survive, ( $3 to $5 per month per member) to know I am trading on a stable reliable exchange, that is not shorting my investment to make money is a no brainer.
FYI:
One thing to point out , is the Antidumping fee is a large part of the reason for this coin, so any allowing of exchanges to stake for free is completely opposite to this coin's stated antidumping goals.

Problems with only an exchange being allowed to have non-staking addresses, is the following:
It does not let users store fly in paper wallet without suffering the penalty.
It does not allow any real commercial use of the coin ,without that its appeal will be limited.
One Important difference if you hold your coins in a non-staking address in your own wallet instead of leaving them on the exchange is, if the exchange goes under, your coins are not lost with it.

 

So this coin has no short-term investment?

looking at the suggested, there is only one real minor difference, and one difference so negligible it doesnt matter except for gui stuff.
id like to first make a note that my point about sending the coins to stake into the second kind of address wasnt a problem and i wrongly labeled it as one with my previous post so for that i apologize.

lets start with the first, the only real difference is you think the second type of address i supposed we should do shouldn't stake. i will state my point here that i disagree with this. i think it is important for exchanges to stake. staking allows them to sell the coins they stake. which yes, does drive price down. but it also allows them to make profits to continue their services. no i dont run an exchange or benefit from this at all but i still think it is an important aspect to the exchange economy. my point would be cryptsy. yes. it is doing bad right now. but it would have gone under a long time ago if they didnt stake. im sure we all remember those days when there was a bunch of fud about cryptsy cuz the balances were wrong. them being able to stake and sell staking coins helped them fix that without having to shut down after those issues without a lot of user fund losses.

The only other difference between the ideas (which is so negligible idk why im mentioning it) was that my proposal had the option for exchangewallet=1 to get the second type of address. yours does not. now you might say but only wallets in exchanges were supposed to run in exchangewallet=1, the response to that would be there was nothing stopping a normal user from doing it anyway so it was kinda a misleading name. but back to the point, the second type of addresses we proposed do exactly the same thing. send without fees. i think the exchangewallet = 1 idea is good to keep in the code purely for gui reasons. it stops people from accidentally creating the wrong type of address for their coins (since fee structures are different) since it has to be manually enabled. this wouldnt affect api calls because you have to know what you are doing to use those anyway. would also help exchanges to not accidentally generate a normal address for a user. which it is nice to have a safety on that aspect.
i think for usability with people less comfortable with crypto. this is a good idea. rule 1 of software engineering is assume the user is stupid. which is soo true because it helps with stuff down the road.

also the naming was different. i called it exchange address and normal. you called it staking and non staking. but who cares about that.

and the thousand sentences he did on cryptopia

FLY donation for just 3 sentences? Damn it is cool.

I was going to send you some FLY but your address is cut off.

I was going to send you some FLY but your address is cut off.