trueberry
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October 03, 2014, 09:47:21 PM
Last edit: October 03, 2014, 10:00:45 PM by trueberry |
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BBR giveaway!Post your address there or PM me here. Must not be an exchange address. Don't post it on this thread.
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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S3MKi
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Activity: 1540
Merit: 1016
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October 03, 2014, 11:44:48 PM |
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still following BBR
Nice little 20% gain in price today. Not bad. not bad is 0.00125, not 0.00075 |
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windjc
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Activity: 2156
Merit: 1070
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October 04, 2014, 03:39:24 AM |
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still following BBR
Nice little 20% gain in price today. Not bad. not bad is 0.00125, not 0.00075 Well, look. It'll be a .00125 soon enough and then you can sell for a small profit. But the better investment would be to just hodl. See if this coin is at .01 in 6 months. Thats a much better return on investment. |
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BitBD
Full Member
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Activity: 238
Merit: 100
Crypto Maniac
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October 04, 2014, 01:45:49 PM |
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Approximately when do we get our expected big ANN?
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Oscilson
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October 04, 2014, 01:53:07 PM |
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Are we still paying royalty to CN developers? Is the royalty compulsively?
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jwinterm
Legendary
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Activity: 3024
Merit: 1103
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October 04, 2014, 01:57:56 PM |
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Are we still paying royalty to CN developers? Is the royalty compulsively?
Yes, and not really. I think if you solo mine, then you can turn off the 1% donation, but if you mine at a pool, then I think they mostly have it turned on. It's really not clear, and I've asked for more information previously, and was told to read the source code. It would be nice if there was more than a vague sentence or two about miners voting on dev bounty for non-c++ programmers. |
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crypto_zoidberg (OP)
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October 04, 2014, 03:35:52 PM |
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Are we still paying royalty to CN developers? Is the royalty compulsively?
Yes, and not really. I think if you solo mine, then you can turn off the 1% donation, but if you mine at a pool, then I think they mostly have it turned on. It's really not clear, and I've asked for more information previously, and was told to read the source code. It would be nice if there was more than a vague sentence or two about miners voting on dev bounty for non-c++ programmers. Sorry if it looks shady. If the question was about CN developers, then yes, we do. Whatever value we get in each 720s block we pay 10% of this to CN founders. Zoidberg |
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Cassius
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Activity: 1764
Merit: 1031
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October 04, 2014, 03:37:32 PM |
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Logo is awesome, no changes there.
However, there is a major announcement coming on Saturday. You will want to be following this thread that day. Just a heads up.
Following  |
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smooth
Legendary
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Activity: 2968
Merit: 1198
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October 04, 2014, 03:45:28 PM |
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Are we still paying royalty to CN developers? Is the royalty compulsively?
Yes, and not really. I think if you solo mine, then you can turn off the 1% donation, but if you mine at a pool, then I think they mostly have it turned on. It's really not clear, and I've asked for more information previously, and was told to read the source code. It would be nice if there was more than a vague sentence or two about miners voting on dev bounty for non-c++ programmers. Sorry if it looks shady. Maybe it would help if you simply explained how the voting works. For non-programmers it is a bit shady that the only way to know is to read the source or find some old thread discussions from May (if those are even still accurate). |
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jwinterm
Legendary
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Activity: 3024
Merit: 1103
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October 04, 2014, 03:55:09 PM |
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Are we still paying royalty to CN developers? Is the royalty compulsively?
Yes, and not really. I think if you solo mine, then you can turn off the 1% donation, but if you mine at a pool, then I think they mostly have it turned on. It's really not clear, and I've asked for more information previously, and was told to read the source code. It would be nice if there was more than a vague sentence or two about miners voting on dev bounty for non-c++ programmers. Sorry if it looks shady. Maybe it would help if you simply explained how the voting works. For non-programmers it is a bit shady that the only way to know is to read the source or find some old thread discussions from May (if those are even still accurate). +2^64 |
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trueberry
Newbie
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Activity: 24
Merit: 0
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October 04, 2014, 04:28:41 PM
Last edit: October 04, 2014, 05:04:54 PM by trueberry |
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As far as I can tell, the donations work like this: Every day, the votes are counted from the day's blocks. The donation amount is calculated as 1% of the day's emission times the percentage of "yes, donate" votes. Then 1% of the day's emission is subtracted from the not-yet-donated amount (which starts out as 1% of the total supply). Then the donation amount is rounded down to get rid of dust. Basically this has the same effect as if when each miner votes "yes, donate" 1% of the block reward goes to the developer, and if they vote "no" nothing goes to the developer.You can correct me if I'm wrong. edit: not sure about striked parts |
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trueberry
Newbie
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Activity: 24
Merit: 0
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October 04, 2014, 04:37:18 PM |
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Are we still paying royalty to CN developers? Is the royalty compulsively?
Yes, and not really. I think if you solo mine, then you can turn off the 1% donation, but if you mine at a pool, then I think they mostly have it turned on. It's really not clear, and I've asked for more information previously, and was told to read the source code. It would be nice if there was more than a vague sentence or two about miners voting on dev bounty for non-c++ programmers. Pools could be adapted to take miners' donation votes, and vote in their blocks on average the same as their miners vote. The effect of each individual miner would of course be proportional to each miner's hashrate. |
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Oscilson
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October 04, 2014, 04:41:48 PM |
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As far as I can tell, the donations work like this: Every day, the votes are counted from the day's blocks. The donation amount is calculated as 1% of the day's emission times the percentage of "yes, donate" votes. Then 1% of the day's emission is subtracted from the not-yet-donated amount (which starts out as 1% of the total supply). Then the donation amount is rounded down to get rid of dust. Basically this has the same effect as if when each miner votes "yes, donate" 1% of the block reward goes to the developer, and if they vote "no" nothing goes to the developer. You can correct me if I'm wrong. So it takes donation not from the miners directly, but from a donation set aside from the total supply. Does the vote come only from the miners who find the block ? |
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smooth
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Activity: 2968
Merit: 1198
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October 04, 2014, 05:01:37 PM |
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As far as I can tell, the donations work like this: Every day, the votes are counted from the day's blocks. The donation amount is calculated as 1% of the day's emission times the percentage of "yes, donate" votes. Then 1% of the day's emission is subtracted from the not-yet-donated amount (which starts out as 1% of the total supply). Then the donation amount is rounded down to get rid of dust. Basically this has the same effect as if when each miner votes "yes, donate" 1% of the block reward goes to the developer, and if they vote "no" nothing goes to the developer. You can correct me if I'm wrong. It looks to me from looking only at that one block of code (so this may be wrong), that donations are computed from a fixed amount of the total supply (1% I guess) less the amount of previous donations. So the effect is that as long as one miner votes for the donation, the entire donation amount (1% of the total supply) will eventually be donated (over a similar timescale to the overall emission curve). Votes no don't reduce the total donation, they reduce the current donation but increase future donations, in effect slowing down donations but not ultimately changing the total. But I haven't studied this that carefully so I welcome corrections. |
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Oscilson
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October 04, 2014, 05:23:06 PM |
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#define DONATIONS_SUPPLY (TOTAL_MONEY_SUPPLY/100) So the total donation is 1%. Many years later, even if there is no coin to be mined, donation will still be made to the project, as long as some miners voted no previously. |
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trueberry
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Activity: 24
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October 04, 2014, 05:24:45 PM |
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So it takes donation not from the miners directly, but from a donation set aside from the total supply.
Does the vote come only from the miners who find the block ?
Yes and yes. It looks to me from looking only at that one block of code (so this may be wrong), that donations are computed from a fixed amount of the total supply (1% I guess) less the amount of previous donations. So the effect is that as long as one miner votes for the donation, the entire donation amount (1% of the total supply) will eventually be donated (over a similar timescale to the overall emission curve). Votes no don't reduce the total donation, they reduce the current donation but increase future donations, in effect slowing down donations but not ultimately changing the total.
But I haven't studied this that carefully so I may be wrong.
Yes, I think that's how it works. |
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Oscilson
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October 04, 2014, 05:28:39 PM |
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As far as I can tell, the donations work like this: Every day, the votes are counted from the day's blocks. The donation amount is calculated as 1% of the day's emission times the percentage of "yes, donate" votes. Then 1% of the day's emission is subtracted from the not-yet-donated amount (which starts out as 1% of the total supply). Then the donation amount is rounded down to get rid of dust. Basically this has the same effect as if when each miner votes "yes, donate" 1% of the block reward goes to the developer, and if they vote "no" nothing goes to the developer. You can correct me if I'm wrong. It looks to me from looking only at that one block of code (so this may be wrong), that donations are computed from a fixed amount of the total supply (1% I guess) less the amount of previous donations. So the effect is that as long as one miner votes for the donation, the entire donation amount (1% of the total supply) will eventually be donated (over a similar timescale to the overall emission curve). Votes no don't reduce the total donation, they reduce the current donation but increase future donations, in effect slowing down donations but not ultimately changing the total. But I haven't studied this that carefully so I welcome corrections. XMR should adopt the same approach. |
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trueberry
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October 04, 2014, 05:31:51 PM |
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If the developer isn't doing a good job or completely abandoned the project it could be hardforked and a new donation address could be set up or completely removed. That in combination with the no votes makes it pretty fair in my opinion.
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Oscilson
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October 04, 2014, 05:37:40 PM |
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If the developer isn't doing a good job or completely abandoned the project it could be hardforked and a new donation address could be set up or completely removed. That in combination with the no votes makes it pretty fair in my opinion.
But this no vote does not matter too much. If 24/72 vote no, dev will get 48/72 this round. The rest is deferred to next round. So the next round subtoal will be larger. The total to be donated does not change, it just takes longer to collect the whole lot. |
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jwinterm
Legendary
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Activity: 3024
Merit: 1103
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October 04, 2014, 05:46:32 PM |
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If the developer isn't doing a good job or completely abandoned the project it could be hardforked and a new donation address could be set up or completely removed. That in combination with the no votes makes it pretty fair in my opinion.
But this no vote does not matter too much. If 24/72 vote no, dev will get 48/72 this round. The rest is deferred to next round. So the next round subtoal will be larger. The total to be donated does not change, it just takes longer to collect the whole lot. That's kind of strange, and also some what at odds with: Developer Bounty: Up to 1% (Controlled by miner's votes)
which is, I think, the total extent of the information on the ANN page. Thanks for analysis though |
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