[XBC] BitcoinPlus Official Thread

[Mysticus]

About XBC transaction fees:

  - recommended default fee in the wallet is 0.01 XBC.  At current market price it is equivalent to 0.50$ which is expensive (comparable to optimal bitcoin tx fee at this time).  This should be reduced in the new wallet version IMO, especially considering XBC potential to increase a lot more in value.  

  - since XBC is a proof-of-stake coin, what is the purpose of including transaction fees when sending XBC ?  Can we safely send XBC with zero fees?

[1713971735]

1713971735

[1713971735]

1713971735

[jfieschi]

     BitcoinPlus XBC at Coinomi, need say more ?   

[egghead123]

About XBC transaction fees:

  - recommended default fee in the wallet is 0.01 XBC.  At current market price it is equivalent to 0.50$ which is expensive (comparable to optimal bitcoin tx fee at this time).  This should be reduced in the new wallet version IMO, especially considering XBC potential to increase a lot more in value.  

  - since XBC is a proof-of-stake coin, what is the purpose of including transaction fees when sending XBC ?  Can we safely send XBC with zero fees?

-It only says thats the recommended fee (for optimal transaction speed) but the default fee setting is 0.00010000 so just because it recommends it doesnt mean anyone is going to use it at that level unless they are in a pretty urgent need to move coins ahead of the queue.

-POS will rely on transaction fees for staking rewards and the transaction fees are going to be the only thing left once all bitcoinplus is staked into existence. When you start staking you are effectively commiting those coins for the length of time they are staking to securing the network and that is why you are rewarded the 20% return.This % return may or may not remain the same depending on future votes etc but it is very generous atm.ATM because all the coins are not created we are still in the minting into existence the blocks to create the total amount and when this is done the network will solely rely on transaction fees.

[soyab0007]

How to get 20% per year, If I plan to hold this coin?

[Mysticus]

About XBC transaction fees:

  - recommended default fee in the wallet is 0.01 XBC.  At current market price it is equivalent to 0.50$ which is expensive (comparable to optimal bitcoin tx fee at this time).  This should be reduced in the new wallet version IMO, especially considering XBC potential to increase a lot more in value.  

  - since XBC is a proof-of-stake coin, what is the purpose of including transaction fees when sending XBC ?  Can we safely send XBC with zero fees?

-It only says thats the recommended fee (for optimal transaction speed) but the default fee setting is 0.00010000 so just because it recommends it doesnt mean anyone is going to use it at that level unless they are in a pretty urgent need to move coins ahead of the queue.

-POS will rely on transaction fees for staking rewards and the transaction fees are going to be the only thing left once all bitcoinplus is staked into existence. When you start staking you are effectively commiting those coins for the length of time they are staking to securing the network and that is why you are rewarded the 20% return.This % return may or may not remain the same depending on future votes etc but it is very generous atm.ATM because all the coins are not created we are still in the minting into existence the blocks to create the total amount and when this is done the network will solely rely on transaction fees.

Thank you for your answer, 0.0001 XBC seems to be a reasonable fee at this time. 

So, if I understand well, even if someone would send XBC without any transaction fee (tx fee = zero) from the wallet, the payment would still get to its destination in a timely manner, because atm new coins are minted by validating each new transaction.

[Mysticus]

How to get 20% per year, If I plan to hold this coin?

You only have to hold the coins in your wallet and let it open at least once in a while.  Small rewards added periodically while your wallet is open and unlocked for staking, will add up in the end to approximate 20%/year.

[BitcoinPlusBus]

About XBC transaction fees:

  - recommended default fee in the wallet is 0.01 XBC.  At current market price it is equivalent to 0.50$ which is expensive (comparable to optimal bitcoin tx fee at this time).  This should be reduced in the new wallet version IMO, especially considering XBC potential to increase a lot more in value.  

  - since XBC is a proof-of-stake coin, what is the purpose of including transaction fees when sending XBC ?  Can we safely send XBC with zero fees?

-It only says thats the recommended fee (for optimal transaction speed) but the default fee setting is 0.00010000 so just because it recommends it doesnt mean anyone is going to use it at that level unless they are in a pretty urgent need to move coins ahead of the queue.

-POS will rely on transaction fees for staking rewards and the transaction fees are going to be the only thing left once all bitcoinplus is staked into existence. When you start staking you are effectively commiting those coins for the length of time they are staking to securing the network and that is why you are rewarded the 20% return.This % return may or may not remain the same depending on future votes etc but it is very generous atm.ATM because all the coins are not created we are still in the minting into existence the blocks to create the total amount and when this is done the network will solely rely on transaction fees.

Thank you for your answer, 0.0001 XBC seems to be a reasonable fee at this time.  

So, if I understand well, even if someone would send XBC without any transaction fee (tx fee = zero) from the wallet, the payment would still get to its destination in a timely manner, because atm new coins are minted by validating each new transaction.

By default the network will not allow a zero amount transaction fee but you can try to input a smaller amount and see if that gets your transaction across without a slower confirmation time.

[BitcoinPlusBus]

How to get 20% per year, If I plan to hold this coin?

To get the full 20% amount of any balance that balance amount would have to stake for 1 full year.

[BitcoinPlusBus]

Fri, 21 Apr 2017 05:31:54 GMT

Difficulty
POS: 0.00024414

Coin Supply (XBC)
95356.61891181

BTC Price
0.03971361

310637 blocks

43 connections

Network hashrate. (hash/s)
10.73756267

[BitcoinPlusBus]

[BitcoinPlusBus]

[BitcoinPlusBus]

[BitcoinPlusBus]

Evolution Fast VPS now accepts Bitcoinplus [XBC]

[hogie2010]

After the 13 years are up and we are at 1 million coins what will the POS reward rate? My understanding is at that point it will be based solely on transaction fees.

I know that might be a hard question to answer but can you give a ball park guess?

Thank you 

[mastertrader777]

Loving these updates!

Maybe a signature campaign can help get some exposure?

[cpozzer]

Evolution Fast VPS now accepts Bitcoinplus [XBC]

Thanks for listing my business in XBC merchants section.

[BitcoinPlusBus]

After the 13 years are up and we are at 1 million coins what will the POS reward rate? My understanding is at that point it will be based solely on transaction fees.

I know that might be a hard question to answer but can you give a ball park guess?

Thank you  

It will all depend on the amount of transactions and fee settings each person chooses but the full amount of Bitcoinplus have not been mined into existence yet so nobody can predict what the adoption rate will be in the end.

[BitcoinPlusBus]

Loving these updates!

Maybe a signature campaign can help get some exposure?

Thats a good suggestion and we will look into it.We have had recent media exposure but everything helps of course.

[BitcoinPlusBus]

Evolution Fast VPS now accepts Bitcoinplus [XBC]

Thanks for listing my business in XBC merchants section.

I just had a look at the stores section but dont see it listed yet so I will remind the webmaster.Cheers

[hogie2010]

After the 13 years are up and we are at 1 million coins what will the POS reward rate? My understanding is at that point it will be based solely on transaction fees.

I know that might be a hard question to answer but can you give a ball park guess?

Thank you  

It will all depend on the amount of transactions and fee settings each person chooses but the full amount of Bitcoinplus have not been mined into existence yet so nobody can predict what the adoption rate will be in the end.

How can we measure the current adoption rate other than price?