Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 115. (Read 804676 times)

You are the only one having problems (or saying you're having them), there must be something wrong with you 

Please, do not be delusional in your fantasies. You do not know what you are talking about - what equipment i use and how amateurish i am.
For example, i run NODE node on one vps for months without any problem, but now the same vps can not run Crypti because client can not sync. Not telling how many NXT servers i run successfully.
Instead of solving problems you prefer to blame those who tell you about problems.  

It does make a very big difference, it centralizes all the power in the hands of the devs. they make litterally every block on the network at the moment,
Some people would disregard this as crazytalk, but i think decentralization is a cornerstone of about of all but a very select few Cryptocoins.
Even the most scammy of scamcoins have the network ran by a whole lot of different people, with nobody holding more than 50% of power.
Now this dev team does not have any malicous intent to change blocks they forge, but the possibility of it scares me though.
This situation will be resolved when the foundation node's are slowly being replaced by community node's. but marketing crypti as a decentralized coin is just not possible at the moment.

(For future reference, I have also posted the summary below at the main Crypti board as "Crypti DPoS Delegate Economics":  http://forum.crypti.me/viewtopic.php?f=4&t=17)

Earning Crypti in your pocket takes A LOT of Crypti leaving other pockets.

If you want to think in terms of Crypti instead of dollars:  

How many Crypti you get in a month by being a Delegate is totally dependent on the monthly traffic in Crypti handled by the system.  

For you to make 1 Crypti as a Delegate, the entire DPoS system has to process total transfers between users of 112.2K Crypti at 0.1% fee.  

For you to make 10K Crypti as a Delegate SOLELY FROM USER TO USER TRANSACTION FEES, the entire DPoS system has to process total transfers between users of 1.122 BILLION Crypti - every single Crypti in existence has to change hands 11 times at 0.1% fee.
 
These numbers are constant regardless of the market value of Crypti.

The 10K Crypti that are surrendered in fees by a user that wants to become a Delegate is a special case.   These Crypti are split directly between the other Delegates and the Foundation, with each EXISTING Delegate receiving 90 Crypti upon the application of a NEW Delegate.  So if you are an early Delegate, you will get your initial 10K entry fee back once 112 other users apply to become a Delegate.  However, I personally  wouldn't recommend depending on this special circumstance as a payback method to recoup your Delegate fee.  It obviously isn't going to work for all Delegate applicants.

Running a real-world node takes real-world money.

If you want to think in terms of dollars and pay your server costs:

Say you are a Delegate running a node and you need to make $10 per month forging to pay for your node costs.  Crypti is currently $0.004 each.  Let's say that when 0.2.0 launches the value of Crypti pops 2.5X to a penny each or $0.01 each.  As a node, to get your $10 you have to "clear" as your monthly fee cut $10/$0.01 = 1000 Crypti.   That's your take AFTER you pay a 10% "tax" to the Foundation.  In order for you to put 1000 XCR in your pocket every month you've got to take in as fees a total of 1111 Crypti, with 111 going to the Foundation and 1000 going to you.  This is true for all 101 delegates, so the total fees required to let ALL forgers break even at $10 per month is 1111 X 101 = 112,211 Crypti.  

Thus for a "breakeven month" with a $0.01 Crypti value 2.5X higher than at present, 101,000 Crypti  must be split by the 101 Delegates (who get $10 each) and the Foundation gets 11,211 Crypti worth $112.  

Initial forging fees are apparently going to be a tenth percent or 0.1%.   This means that for every 1000 Crypti processed as node traffic, the nodes pass 999 on to the recipient and keep 1 as a fee.  So for the 101 nodes to take in 112,211 Crypti as fees, they've got to process 112,211 / 0.001 = 112.2M as Crypti traffic.

So for a Delegate to make "just" $10 as 1000 Crypti in a month, the Crypti price has got to be 2.5X higher than it is now coupled with more than the entire total supply of Crypti changing hands every month.  

Note there are other combinations of these two value / traffic criteria that yield $10 per month per Delegate, but making one of them "somewhat more reasonable" makes the other one "even more unreasonable".   Thus another scenario is, if the monthly transaction traffic target is dropped to "only" 10M Crypti per month (a tenth of the total Crypti supply), then compensating a Delegate $10 per month requires a Crypti value of $0.112 each, or over X25 the current value.

These are kinda sobering numbers in my opinion.  A delegate had better be prepared to fund a node out of his own pocket for probably many months until either Crypti prices and/or transaction volumes ramp up VERY significantly.

The Start-Post of the Tread shouldbe updated:


btw. is there an seperate Paper where I can find how much I can earn with an running Node?
-I know, it´s depending from my Score or Voting-Place, but I think 10.000 XCR a lot of coins,so I want to know how long I have to run a node till I have my 10.000XRC back.

-if you don´t look every day in the Tread it´s difficult to find out the news, ....so many Post´s.

You don't need to be afraid. We will rise slowly but surely. We are not a pump and dump. We want consistent growth.

3 delegates are few, yes I agree. But it will be more once a part of them got upvoted.

Guys, I hope this quiet launch was intentional. Cause if not then 3 non-fictional delegates in 24 h is a disaster.

I'm afraid 

A couple things to keep in mind.

1. We will be releasing a Lite Wallet soon that will feature all of the capabilities of a full fledged node in regards to API access, but will not require you to download and sync the blockchain. These will be standard user nodes that will allow you to host your own wallet or create applications that need API calls.

2. The full fledged node and delegate status are only meant for those serious about Crypti. If you missed our conversations with Mal, you aren't going to get rich and it isn't meant to get you rich. You might even lose money while tx volume is still low. This is why we have so many genesis delegates run by the Foundation. It was a safeguard to ensure the network would run and run consistently at launch.

3. The main reason we have the foundation genesis delegates with 30% votes was to ensure BTER couldn't use the 22% it has on hold from users to vote 101 of it's own delegates to the top.

Most importantly for those who have missed it:

We will be phasing out foundation nodes (and some of our own personal delegates) as we get quality community members we can trust willing to run as active delegates and maintain up-time. Right now I have NINE nodes running and will probably be coming out of pocket for the cloud servers to run them at this stage. I only plan to maintain 2-3 nodes long term and I am fine if I only have to have 1 running active and have 2 on standby in case of emergencies. To me, that would be best case scenario. But I WILL NOT pull my personal votes from trusted users I know at any point. I have a lot riding on Crypti and I want the best network possible. If you haven't been a positive presence in the community, if you haven't contributed something to helping build Crypti or push our discussions, or if you are just way too new and we don't know you, then you probably won't get my votes.

Keep in mind, the XCR in circulation consolidated in a lot of hands during the period of time where everyone took the price so low by dumping. This leaves a lot of funds in the hands of some serious investors and people who went long on Crypti and believed in us. They earned the right to hold the high vote that they have and they are the ones who should be deciding the delegates that run their network.

Based on the vast scientific analysis here you must be correct. Or, how about this. If you can't get a better connection to communicate with a small pool of nodes within 10s, you shouldn't be voted as a delegate? This isn't meant for amateurs and its not there for you to make a quick buck. It's there to run the network. Only the best need apply. This is a serious business and we aren't screwing around here. If you aren't willing to run on solid, dedicated hardware or cloud hosting worth it's salt, it's not worth trying to get votes. This isn't me being harsh, this is the reality of how this system works.

the 10K fee for registering delegates is to make sure that only serious Crypti folk make delegates, and not 1000 NXT kiddies that think they can load up on XCR and forge a living wage every month.

The 10K fee is divided 90 XCR for each delegate that was the top 101 forging for that block cycle, the other 1000 XCR goes in the foundation account, which is used for the Delegate reward Program, and the faucet.  The devs dont get any of this unless they have a delegate running

We were going to make it 25K, but then the fees were .5%.  Since we lowered the fee to .1% at community request, we lowered the delegate fee as well.

The present delegates are all controlled by the foundation, because we need to have ALL TRUSTED DELEGATES for the test period.  If there was a malicious delegate, it would complicate the trouble shooting we are doing now.

The Delegate Reward Peogram will be started after we fix a few issues, and have a stable network.  The foundation delegates will also to voted down so others can forge.  It was necesary to have delegates with votes higher than what the largest XCR holder could produce.  HINT: Bter has 26 Million XCR still.

I just encountered this problem a few minutes ago. node stuck in syncing. apparently, it was caused by bandwidth problems. i copied the node a Vultr server and the problem is gone.

is the time on your machine corrent & synched to a timeserver?

Oh, deleted blockchain, restarted client - now can not sync at all!
It is going circles - 3614 - 3707 - 3614 when there are 3876 the last block.
Why it can not sync?

Really awesome update karma


By the way, i have a question about the 10k fee for making a delegate, why is it there? at the moment it is just s transfer of 10k XCR to the dev nodes.
will this (101*10k = 1 million Crypti)  be used for the Delegate-reward program later on?

it seems like a fair system for making new delegate's, exept for the case it is now, where all the dev node's paid 0 XCR, and get the 10k from the community registering delegate's.

CryptiKit Update - Simple & easy Crypti node deployment and management.

Hello Everyone!

Coinciding with the brand spanking Chronos (v0.2.0) Crypti release. Today, I am very happy to bring you the latest update to CryptiKit!

Featuring full support for running multiple delegates on individual nodes, and an improved withdrawal system.

Please download here: https://github.com/karmacoma/cryptikit/releases/tag/v2.0.0

For further information about CryptiKit and what it can do, please read here:
- https://github.com/karmacoma/cryptikit/blob/v2.0.0/README.md

For the complete changelog, please read here:
- https://github.com/karmacoma/cryptikit/blob/v2.0.0/Changelog.md

---

Release Highlights

Delegates

• Adding delegate status information to check_nodes task
• Added support for running multiple delegates on individual nodes

For more information, please read:

• https://github.com/karmacoma/cryptikit/blob/v2.0.0/README.md#multiple-delegates
• https://github.com/karmacoma/cryptikit/blob/v2.0.0/README.md#checking-nodes

Example - Multiple Delegates



Withdrawals

• Renamed withdraw_surplus task to withdraw_balances
• Now allows users to withdraw specific balance
• Improved accuracy of network fee deduction
• User now presented with a list of accounts to withdraw from
• Recipient address is now specified using 'recipient' environment variable
• Improved error and log messages

For more information, please read:

• https://github.com/karmacoma/cryptikit/blob/v2.0.0/README.md#withdrawals

Example - Withdrawal

Okay as most of you may know, CryptiChat : http://www.cryptichat.me/, has been in BETA for about 2 weeks now, and after quite a bit of testing and use, I'm ready for it to officially launch.

So coinciding with the launch of 0.2.0 (Chronos), as of today Cryptichat, is officially launched!

---

XCR Giveaway

I'll be hosting a 5K XCR Giveaway tomorrow night at 9PM UTC, whoever wants to receive some of the 5K XCR all you'll need to do is join the chat to receive your free XCR. You'll see the rest of the info when you connect

Bumping this to the new page.

XCR Frozen at Dev request.

Posted by GeezUp at 2015-04-09 17:17:27 in Polo notice box.

https://poloniex.com/exchange#btc_xcr

Yes would be interesting.  Sounds like you found yourself a project.  Beats traveling around the galaxy, getting into a gun fight twice every episode?

So what is the 0.2.0 fee to install a second payout passphrase?

Not that I intend to do so until a few days go by and the new blockchain is seen as stable...