Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 130. (Read 804676 times)

Would I be able to share the fees if I lost my connection after I signed a block in that round?

Keep in mind as always, that we pay attention to everything you guys say and we are already discussing it internally due to the comments here. That doesn't mean it will change, but we have re-opened the dialogue.

Fair explanation and point of view. I still think .5% is too high but I agree that it is not as outrageous as it first seemed to me.

During that round, if you were to miss your block and fail to secure that block in that round, another delegate would take your place and secure that block. They would receive that fee and you would lose your fee for that round as you did not provide the service required. You would not be removed from the Top 101 delegates or lose any votes, but you would not receive the fee for that block and the missed block would be registered in the network statistics and displayed on your delegate page.

This is why we say over time, the delegates being voted into the top will most likely be high quality dedicated servers.

In a world where the primary form of payment is a crypto currency, the price of goods would not be over-inflated to compensate for exorbitant credit card processing fees (which is now the case). For instance look at companies that take Bitcoin as a form of payment, many offer 10% discounts because they save so much on the backend not paying out money for the processing of the payment to the network and company that is facilitating the payment. This fee can be anywhere from 1.5-5% depending on the company and form of payment. If Crypti were the #1 form of payment and all places took Crypti, the merchant would be paying nothing to any facilitator for the processing of the payment and the user would simply pay a front facing 0.5% fee to pay with Crypti. Taking into account the reduction in overall cost of goods due to the declining 1.5-5% processing fee, you would actually come out paying less for the same goods in the hypothetical future Crypti dominated marketplace.

Not saying I don't understand your point, but the fee isn't as outrageous as it might seem.

If I am one of the selected 101 delegates and lose my internet connection in one round, will I still be able to share the fees?

Thanks a lot Bigcabrito! We really appreciate the support! It's people like you that keep us motivated to push forward!

Hello Crypti Team

Let me start off by saying great job on keeping your spirits up. It has been a rocky road since the beginning but you guys barely flinched. Innovation doesn't come just from giving people incentives; it comes from creating environments where their ideas can connect. Crypti has this. There's always a way to to do it better, and Crypti thrives to find this. Throughout this path, mistakes have happened, but were admitted to very quickly, and often improved on those mistakes. It is because of this I stand with this team and the coin. Cheers!

I understand the need to reward delegates especially this early in Crypti's life.
But .5% is still .5% whether Crypti is worth a dollar or fractions of a penny like now.
The ultimate goal of Crypti as well any other crypto is valuing the currency not in terms of fiat but as a stand alone currency itself.
Even if it takes 25 years do we not want the world to pay with Crypti because 10 Cryptis has a value of 10 Cryptis and not be thought of in terms of fiat value?
Imagine in fiat paying a .5% network fee every time you buy milk.
If Crypti will really be a payment method for merchants, paying anywhere near .5% even .1% is a lot every time I buy a tv, a mattress, pay my cell phone bill or renew my Netflix.

Like Max said, you can test it on testnet now but it will be an option to register in the wallet. We will probably put together a quick tutorial prior to the official release.

GreXX posted this on the previous page, but here is the link again.


http://blog.crypti.me/introduction-to-dpos/

You can check it out at http://testnet.crypti.me If you need some XCR, just let me know your address. (Attention! It's not the real crypti network, just a testnet!)

Additionally the delegates will be run by the most honest and reputable persons. Some small fish, who is new in Crypti, will likely not get enough votes. In the future being a delegate is a great responsibility and will probably give you a nice steady income. So there will probably be a big fight for these positions.

OK. It makes sense. Can you point to me the place where I can find how to register to become a delegate?

Not if you register a delegate early.  The 10K delegate fee is part of the transaction fee reward system, and is divided among the top 101 forging delegates.  So each delegate earns 90XCR for each new delegate that is registered.  If you are a top 101 delegate, and 111 other delegates are registered, you have earned your registration fee back already, not even counting other trans fees earned.

This 10K seems too high for small fish and it will exclude lots of users.

Comparatively speaking it is still much lower than any other non-crypto method of transferring that amount of money, but I understand where you are coming from. I don't remember the exact conversations that were had as I believe it was decided at a meeting quite a while ago. As with anything, I do believe the foundation voted and that was the consensus selection.

Keep in mind that by hard-coded, that simply means the value is not variable, it does not mean that it cannot be adjusted in future core releases. It would still be able to be changed at a later date if necessary. So in this sense, hard-coded doesn't mean permanent, it just means that it is a non-variable amount and instead is set to a specific 0.5% atm.

As Litoshi mentioned, a large part of the conversation was balancing the ROI for delegates to allow them to run dependable hardware, not at a loss, to help run the network. We needed to balance the reward.

If XCR hits $1 = 1 XCR, we would most definitely re-evaluate to keep delegate rewards in line and reasonable.

The .5% fee is to make it worthwhile for users to run delegates that do the forging of transactions.  The fee can be changed as the value and price of XCR grows.  

Right now, the 10K XCR fee needed to register a delegate will be earned back only after there have been approx 202 Million XCR transferred in the network, and provided that that particular delegate is up 100% of the time and in the top 101 voted delegates.

As for the cost of moving 1 million XCR at $1 each......... If XCR was worth $1 each, and you had 1 million of them, you would be a millionaire and $5000 would be chump change.

At $1 per XCR, it would also cost $10,000 USD to register a delegate.  

We were going to have the delegate fee be 25000 XCR, but that would have required a higher 1-1.5% trans fee to have a reasonable return on investment for a delegate.  Right now, the cost of a delegate is 10,000 X 1000 sats, or 10 million satoshi...... about $25 USD., nly 10% of which goes to the Foundation, which will eventually returned to the community through projects in discussion right now.

We will be reconsidering changes to all Crypti related fees and charges as we progress and the price rises.

This is a project in motion, not an unchanging stone pyramid.

As they way in the military "Remain Flexible"

Can you please explain your reasons and vision for Crypti's future in regards to the hard coded .5% fee?
I mean when Crypti reaches a value of one dollar per, that will mean it will cost me 5,000 dollars to move 1 million Crypti to another address.
Low nominal transfer fees was one of Bitcoin's advantages over traditional money transmitters.
I understand Crypti's goals are aimed more at commerce than a typical crypto so an explanation would be appreciated.