Bottlecaps 2.1 UPDATE REQUIRED - HARDFORK JULY 4 2014 to 200% Annual PoS

[bitmaster1x2]

So did a bit of calculating on the remainder of the CAP fund.  There is 22.5 million left.  Here's my thoughts.

1) Leave 5 million untouched to stake and use for bounties or whatever.
2) Put 2MM on exchange to sell at 10-20 sats. Help fill out the sell side and use it for putting some back on the buy side as well.
3) Move the remainder to my personal wallet.(15MM ish)

Over the last 4 to 5 years, I have put in 500 to 600 hours of work, pretty much with no much to gain. What money I did get, was based on what I bought or staked/mined on my own, no premining, or anything like that.

I would like to do a small bit more of work for CAP, but unless get something out of my time, I just can't commit to anything. I have so very little time these days, and I can't continue to work for free.  So the 15 million  at 10 sats, would average out to about $12-15/hr give or take, with the older work and the planned new work.   Considering my current skill set is worth close to $90/hr in the market place. I think this is pretty fair.

So let me know everyone thinks.  If this seems un-fair, no worries. I will have to kill the reminder of the fix money and I'll just move on.

1. ok
2. No. Terrible idea. Move the coins to 1. or burn them. 2 million coins is a meaningless amount either way. If someone put up a 2 btc buy wall at 10 sats someone would dump 20 million coins fast. There is no need to "help fill out the sell side".
3. ok. 4,37% of total supply.

I think the point of #2 selling is so he could make a little bit of $$ to recoup his time so he can eat. Nothing wrong with that and the amount is not a big deal, but it will at least put food on the table. We don't know what his situations may be. Beside, no one should try to stop anyone from selling, it's called a free market for a reason. At least we know what his intentions are and he'll need to sell something at some point anyway. Again. We don't know his situation.

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[bitmaster1x2]

pretty much same as HBN.

In order for a stake to split, it has be over your threshold. Your wallet will combine smaller UXTOs up to the combine threshold

How come when you issue the following commands it it returns a figure other than the one that is entered for the following example:

Comnand issued
splitthreshold 10000
combinethreshold 10000

returned result

12:10:49

splitthreshold 10000


12:10:49

{
"amount" : 325.59000000
}


12:11:26

combinethreshold 10000


12:11:26

{
"amount" : 651.18000000
}

[Turrican]

So did a bit of calculating on the remainder of the CAP fund.  There is 22.5 million left.  Here's my thoughts.

1) Leave 5 million untouched to stake and use for bounties or whatever.
2) Put 2MM on exchange to sell at 10-20 sats. Help fill out the sell side and use it for putting some back on the buy side as well.
3) Move the remainder to my personal wallet.(15MM ish)

Over the last 4 to 5 years, I have put in 500 to 600 hours of work, pretty much with no much to gain. What money I did get, was based on what I bought or staked/mined on my own, no premining, or anything like that.

I would like to do a small bit more of work for CAP, but unless get something out of my time, I just can't commit to anything. I have so very little time these days, and I can't continue to work for free.  So the 15 million  at 10 sats, would average out to about $12-15/hr give or take, with the older work and the planned new work.   Considering my current skill set is worth close to $90/hr in the market place. I think this is pretty fair.

So let me know everyone thinks.  If this seems un-fair, no worries. I will have to kill the reminder of the fix money and I'll just move on.

Vote for #3 or make a donation adress for you @Tranz  BTC / CAP

[HolyWilly]

pretty much same as HBN.

In order for a stake to split, it has be over your threshold. Your wallet will combine smaller UXTOs up to the combine threshold

How come when you issue the following commands it it returns a figure other than the one that is entered for the following example:

Comnand issued
splitthreshold 10000
combinethreshold 10000

returned result

12:10:49

splitthreshold 10000


12:10:49

{
"amount" : 325.59000000
}


12:11:26

combinethreshold 10000


12:11:26

{
"amount" : 651.18000000
}

Max allowed amount depends on total wallet balance.

[bitmaster1x2]

pretty much same as HBN.

In order for a stake to split, it has be over your threshold. Your wallet will combine smaller UXTOs up to the combine threshold

How come when you issue the following commands it it returns a figure other than the one that is entered for the following example:

Comnand issued
splitthreshold 10000
combinethreshold 10000

returned result

12:10:49

splitthreshold 10000


12:10:49

{
"amount" : 325.59000000
}
.......................

https://github.com/Tranz5/bottlecaps/blob/master/src/rpcwallet.cpp#L1772

@Tranz et all

What was the rational for the total balance to determine the max combine and split threshold amounts? It really doesn't make any logical sense or am I missing something here?  Wouldn't it make more sense for the split / combine threshold to be independent of any of the other factors?

[rayman838]

Tranz, and why did not you put it in 100 sats and you took 3 million?
for example

[rayman838]

tranz, Where did you get the 22 million coins?
And how do we know that you have 15 million and not 150 million?
I do not know as much as you and I'm curious.

[bitmaster1x2]

tranz, Where did you get the 22 million coins?
And how do we know that you have 15 million and not 150 million?
I do not know as much as you and I'm curious.

It helps if you read previous posts. 

[dnp]

So did a bit of calculating on the remainder of the CAP fund.  There is 22.5 million left.  Here's my thoughts.

1) Leave 5 million untouched to stake and use for bounties or whatever.
2) Put 2MM on exchange to sell at 10-20 sats. Help fill out the sell side and use it for putting some back on the buy side as well.
3) Move the remainder to my personal wallet.(15MM ish)

Over the last 4 to 5 years, I have put in 500 to 600 hours of work, pretty much with no much to gain. What money I did get, was based on what I bought or staked/mined on my own, no premining, or anything like that.

I would like to do a small bit more of work for CAP, but unless get something out of my time, I just can't commit to anything. I have so very little time these days, and I can't continue to work for free.  So the 15 million  at 10 sats, would average out to about $12-15/hr give or take, with the older work and the planned new work.   Considering my current skill set is worth close to $90/hr in the market place. I think this is pretty fair.

So let me know everyone thinks.  If this seems un-fair, no worries. I will have to kill the reminder of the fix money and I'll just move on.

i'm cool with it.

[Tranz]

pretty much same as HBN.

In order for a stake to split, it has be over your threshold. Your wallet will combine smaller UXTOs up to the combine threshold

How come when you issue the following commands it it returns a figure other than the one that is entered for the following example:

Comnand issued
splitthreshold 10000
combinethreshold 10000

returned result

12:10:49

splitthreshold 10000


12:10:49

{
"amount" : 325.59000000
}
.......................

https://github.com/Tranz5/bottlecaps/blob/master/src/rpcwallet.cpp#L1772

@Tranz et all

What was the rational for the total balance to determine the max combine and split threshold amounts? It really doesn't make any logical sense or am I missing something here?  Wouldn't it make more sense for the split / combine threshold to be independent of any of the other factors?

The point of staking is to secure the block chain. That's it!  So when people make huge UTXOs, either manually or by using a large split/combine threshold then there are less blocks to stake, thereby decreasing the security of the chain.

Those with a very large balance, have to find a setting that enables them to keep the wallet running smoothly but still gives way to block chain security.

It is a fine line.  I can't give out the ability to everyone to make 1 huge block and stake just once every week.  But anyone can change the setting and compile their own.

[bitmaster1x2]

pretty much same as HBN.

In order for a stake to split, it has be over your threshold. Your wallet will combine smaller UXTOs up to the combine threshold

How come when you issue the following commands it it returns a figure other than the one that is entered for the following example:

Comnand issued
splitthreshold 10000
combinethreshold 10000

returned result

12:10:49

splitthreshold 10000


12:10:49

{
"amount" : 325.59000000
}
.......................

https://github.com/Tranz5/bottlecaps/blob/master/src/rpcwallet.cpp#L1772

@Tranz et all

What was the rational for the total balance to determine the max combine and split threshold amounts? It really doesn't make any logical sense or am I missing something here?  Wouldn't it make more sense for the split / combine threshold to be independent of any of the other factors?

The point of staking is to secure the block chain. That's it!  So when people make huge UTXOs, either manually or by using a large split/combine threshold then there are less blocks to stake, thereby decreasing the security of the chain.

Those with a very large balance, have to find a setting that enables them to keep the wallet running smoothly but still gives way to block chain security.

It is a fine line.  I can't give out the ability to everyone to make 1 huge block and stake just once every week.  But anyone can change the setting and compile their own.

OK. That makes sense. Thanks for clarifying.

[paramind22]

I have some Caps now live for sale at Freiexchange.  I don't have that many.  I think this coin should be in the same range as Truckcoin and VersionCoin, so it's very undervalued right now.  

[3ghyt9]

So did a bit of calculating on the remainder of the CAP fund.  There is 22.5 million left.  Here's my thoughts.

1) Leave 5 million untouched to stake and use for bounties or whatever.
2) Put 2MM on exchange to sell at 10-20 sats. Help fill out the sell side and use it for putting some back on the buy side as well.
3) Move the remainder to my personal wallet.(15MM ish)

Over the last 4 to 5 years, I have put in 500 to 600 hours of work, pretty much with no much to gain. What money I did get, was based on what I bought or staked/mined on my own, no premining, or anything like that.

I would like to do a small bit more of work for CAP, but unless get something out of my time, I just can't commit to anything. I have so very little time these days, and I can't continue to work for free.  So the 15 million  at 10 sats, would average out to about $12-15/hr give or take, with the older work and the planned new work.   Considering my current skill set is worth close to $90/hr in the market place. I think this is pretty fair.

So let me know everyone thinks.  If this seems un-fair, no worries. I will have to kill the reminder of the fix money and I'll just move on.

I truly am grateful for everything you've done just like I'm sure the rest of the community is. But, everything you've done up until this point is on you. You did the work out of the goodness of your heart and your love for crypto. HOWEVER.. Moving forward, we need a lead developer and we now have a community coffers to fund it. Which going by your track record I reckon you'd be a shoe in  

I think we need to start looking at Bottlecaps like a business and define clear goals and outcomes.

You say you'd like payment to stay on and do 'a small bit of work' so can you please outline what this work is. This way the community can figure out what the payments should be.

Many of us are in the same boat as you, with a high skill set and lack of time. So if you can outline a roadmap, I'm sure we can all combine our little time and achieve something great.

[Tranz]

So did a bit of calculating on the remainder of the CAP fund.  There is 22.5 million left.  Here's my thoughts.

1) Leave 5 million untouched to stake and use for bounties or whatever.
2) Put 2MM on exchange to sell at 10-20 sats. Help fill out the sell side and use it for putting some back on the buy side as well.
3) Move the remainder to my personal wallet.(15MM ish)

Over the last 4 to 5 years, I have put in 500 to 600 hours of work, pretty much with no much to gain. What money I did get, was based on what I bought or staked/mined on my own, no premining, or anything like that.

I would like to do a small bit more of work for CAP, but unless get something out of my time, I just can't commit to anything. I have so very little time these days, and I can't continue to work for free.  So the 15 million  at 10 sats, would average out to about $12-15/hr give or take, with the older work and the planned new work.   Considering my current skill set is worth close to $90/hr in the market place. I think this is pretty fair.

So let me know everyone thinks.  If this seems un-fair, no worries. I will have to kill the reminder of the fix money and I'll just move on.

I truly am grateful for everything you've done just like I'm sure the rest of the community is. But, everything you've done up until this point is on you. You did the work out of the goodness of your heart and your love for crypto. HOWEVER.. Moving forward, we need a lead developer and we now have a community coffers to fund it. Which going by your track record I reckon you'd be a shoe in  

I think we need to start looking at Bottlecaps like a business and define clear goals and outcomes.

You say you'd like payment to stay on and do 'a small bit of work' so can you please outline what this work is. This way the community can figure out what the payments should be.

Many of us are in the same boat as you, with a high skill set and lack of time. So if you can outline a roadmap, I'm sure we can all combine our little time and achieve something great.

I plan to implement new staking ago to improve the staking efficiency by about 70-80% I also plan to put in other code fixes.    I am toying with the idea of a hard fork to slow the chain down slightly, Bye set it to 3 mins instead of 1.  But not sure about that. This would be similar work to HBN ver 2. About 80-120hrs work depending. 

To be honest I wasn't looking for negotiations. My terms are pretty much as laid out. If everyone isn't on board, then no worries. Sounds like there are others who are ready and willing to take over.

[3ghyt9]

I plan to implement new staking ago to improve the staking efficiency by about 70-80% I also plan to put in other code fixes.    I am toying with the idea of a hard fork to slow the chain down slightly, Bye set it to 3 mins instead of 1.  But not sure about that. This would be similar work to HBN ver 2. About 80-120hrs work depending. 

To be honest I wasn't looking for negotiations. My terms are pretty much as laid out. If everyone isn't on board, then no worries. Sounds like there are others who are ready and willing to take over.

Can you elaborate on the staking efficiency. People like Bottlecaps for the return they currently get while staking, if their returns are going to significantly drop I don't think they will be on board with the changes. However if it's to their benefit I think they will be all for it.

What I would like to see is a way to reward stakers who stake 24/7 and put those that only open their wallets for a few hours every month or two at a disadvantage. Their is also security risks involved when someone can drop a huge amount of weight on the network at once.

I'm not so sure on the 3min block either. While it would be good as a way to reduce orphan blocks, I feel their are more negatives to positives. It would help to increase the network weight but it would also reduce the amount staked. The network weight is growing exponentially and will shortly have the same effect as increasing block time anyway, especially if we can encourage more people to mint 24/7.

[Tranz]

I plan to implement new staking ago to improve the staking efficiency by about 70-80% I also plan to put in other code fixes.    I am toying with the idea of a hard fork to slow the chain down slightly, Bye set it to 3 mins instead of 1.  But not sure about that. This would be similar work to HBN ver 2. About 80-120hrs work depending. 

To be honest I wasn't looking for negotiations. My terms are pretty much as laid out. If everyone isn't on board, then no worries. Sounds like there are others who are ready and willing to take over.

Can you elaborate on the staking efficiency. People like Bottlecaps for the return they currently get while staking, if their returns are going to significantly drop I don't think they will be on board with the changes. However if it's to their benefit I think they will be all for it.

This will mean that the CPU will not run at 100%. It will decrease by 70-80%

What I would like to see is a way to reward stakers who stake 24/7 and put those that only open their wallets for a few hours every month or two at a disadvantage. Their is also security risks involved when someone can drop a huge amount of weight on the network at once.

The only way to change this would be to bring the max weight down from 30 days to like 5.  But this also has an effect on CPU usage, as well as it would put a soft limit on the highest difficulty we could reach.  This requires a hard fork.

I'm not so sure on the 3min block either. While it would be good as a way to reduce orphan blocks, I feel their are more negatives to positives. It would help to increase the network weight but it would also reduce the amount staked. The network weight is growing exponentially and will shortly have the same effect as increasing block time anyway, especially if we can encourage more people to mint 24/7.

It would encourage people to keep wallet open more, yes. As the difficulty would go up and it would be much more difficult to simply jump on and take over the chain. I did this for HBN. took it from 30 seconds to 2:30 and we went from .01 staking diff to usually over 5.  It does have effect of lowering the reward, we would be looking at closer to 30-50%  This can be mitigated by a few things.  All of these require hard fork.

[3ghyt9]

I plan to implement new staking ago to improve the staking efficiency by about 70-80% I also plan to put in other code fixes.    I am toying with the idea of a hard fork to slow the chain down slightly, Bye set it to 3 mins instead of 1.  But not sure about that. This would be similar work to HBN ver 2. About 80-120hrs work depending. 

To be honest I wasn't looking for negotiations. My terms are pretty much as laid out. If everyone isn't on board, then no worries. Sounds like there are others who are ready and willing to take over.

Can you elaborate on the staking efficiency. People like Bottlecaps for the return they currently get while staking, if their returns are going to significantly drop I don't think they will be on board with the changes. However if it's to their benefit I think they will be all for it.

This will mean that the CPU will not run at 100%. It will decrease by 70-80%

What I would like to see is a way to reward stakers who stake 24/7 and put those that only open their wallets for a few hours every month or two at a disadvantage. Their is also security risks involved when someone can drop a huge amount of weight on the network at once.

The only way to change this would be to bring the max weight down from 30 days to like 5.  But this also has an effect on CPU usage, as well as it would put a soft limit on the highest difficulty we could reach.  This requires a hard fork.

I'm not so sure on the 3min block either. While it would be good as a way to reduce orphan blocks, I feel their are more negatives to positives. It would help to increase the network weight but it would also reduce the amount staked. The network weight is growing exponentially and will shortly have the same effect as increasing block time anyway, especially if we can encourage more people to mint 24/7.

It would encourage people to keep wallet open more, yes. As the difficulty would go up and it would be much more difficult to simply jump on and take over the chain. I did this for HBN. took it from 30 seconds to 2:30 and we went from .01 staking diff to usually over 5.  It does have effect of lowering the reward, we would be looking at closer to 30-50%  This can be mitigated by a few things.  All of these require hard fork.

I think optimising the efficiency of the CPU is something that we should seriously consider.

However, changes to stake age and block time are perhaps something we should avoid. As mentioned earlier the network weight is growing rapidly which should take care of these issues by itself.

What are your thoughts on removing POW? I don't see much benefit for it any more, except leaving us open to another attack.

Anyway what ever we end up doing I don't think we should take a hard fork decision lightly. Let's not forget the last one took nearly a year to get everything back up and running again.

[Tranz]

I plan to implement new staking ago to improve the staking efficiency by about 70-80% I also plan to put in other code fixes.    I am toying with the idea of a hard fork to slow the chain down slightly, Bye set it to 3 mins instead of 1.  But not sure about that. This would be similar work to HBN ver 2. About 80-120hrs work depending. 

To be honest I wasn't looking for negotiations. My terms are pretty much as laid out. If everyone isn't on board, then no worries. Sounds like there are others who are ready and willing to take over.

Can you elaborate on the staking efficiency. People like Bottlecaps for the return they currently get while staking, if their returns are going to significantly drop I don't think they will be on board with the changes. However if it's to their benefit I think they will be all for it.

This will mean that the CPU will not run at 100%. It will decrease by 70-80%

What I would like to see is a way to reward stakers who stake 24/7 and put those that only open their wallets for a few hours every month or two at a disadvantage. Their is also security risks involved when someone can drop a huge amount of weight on the network at once.

The only way to change this would be to bring the max weight down from 30 days to like 5.  But this also has an effect on CPU usage, as well as it would put a soft limit on the highest difficulty we could reach.  This requires a hard fork.

I'm not so sure on the 3min block either. While it would be good as a way to reduce orphan blocks, I feel their are more negatives to positives. It would help to increase the network weight but it would also reduce the amount staked. The network weight is growing exponentially and will shortly have the same effect as increasing block time anyway, especially if we can encourage more people to mint 24/7.

It would encourage people to keep wallet open more, yes. As the difficulty would go up and it would be much more difficult to simply jump on and take over the chain. I did this for HBN. took it from 30 seconds to 2:30 and we went from .01 staking diff to usually over 5.  It does have effect of lowering the reward, we would be looking at closer to 30-50%  This can be mitigated by a few things.  All of these require hard fork.

I think optimising the efficiency of the CPU is something that we should seriously consider.

However, changes to stake age and block time are perhaps something we should avoid. As mentioned earlier the network weight is growing rapidly which should take care of these issues by itself.

What are your thoughts on removing POW? I don't see much benefit for it any more, except leaving us open to another attack.

Anyway what ever we end up doing I don't think we should take a hard fork decision lightly. Let's not forget the last one took nearly a year to get everything back up and running again.

The chain was attacked by PoS not PoW. Any HF would be done with many months in advance. But I do agree, they should never be done lightly. 

[Turrican]

Might want to find this coin some other exchanges.

Cryptopia has placed CAPS back in maintenance.

Their support structure and hardware resources seem to be lacking these days.  

https://www.cryptopia.co.nz/CoinInfo/?coin=CAP

24/7/18 - Fixing withdrawal issues, please bear with us momentarily!

Thank you for contacting Cryptopia support.

We apologise for the delay. It appears that your withdrawal has failed to successfully broadcast to the network on the first automated attempt. I have escalated this ticket to our Admin team to attempt to rebroadcast the transaction or cancel it and recredit the funds to your account.

Please leave this support ticket open for communication and we will update you once this has been resolved.

Regards,
Cryptopia Support

[Turrican]

07/25/18 18:29:28 ProcessSyncCheckpoint: pending for sync-checkpoint 301ef484d4bb7fd11b27b615048134faf4ca77720a26385119e2da58092c3097

is the checkpoint offline ?

-----

07/25/18 18:31:33 ProcessSyncCheckpoint: sync-checkpoint at 220c631002bd9d852870304bb9f308bcce2cdb093cf7b0c8a08f45988ad96f9f

done :-)