[XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS

[MalReynolds]

Before you release the 0.2.0 wallet, please spell "security" correctly on the sign-in page.  It is incorrect on the 0.1.9 page.

[Litoshi]

By NEW ACCOUNT, do you mean your node under 0.2.0 with the DPOS?  If so, the answer is NO.
Your passphrase for your 0.1.9g node will still work for your 0.2.0 node/wallet

No. I meant 0.1.9. I have not withdrew my coins yet. I just want to make sure if I need to make an outgoing transaction after I withdraw my coins from bter to my account.

btw, so quiet here. did everyone go to the NEM place today?

When you withdraw from Bter, it is a standard Crypti transction, and will show in the blockchain, along with the XCR fee.  The Bter fee will not show in the blockchain.  The XCR will show up in your XCR wallet/node



As far as quiet goes, its actually pretty busy internally.... Boris is hurry up finish some work so he can get on a train for the next 24 hrs.... Matt is writting about how DPOS works, so every one will understand out version before launch.  The other devs are working on the testing of DPOS.  

[Passion_ltc]

Before you release the 0.2.0 wallet, please spell "security" correctly on the sign-in page.  It is incorrect on the 0.1.9 page.

http://testnet.crypti.me

This is already fixed.

[Passion_ltc]

By NEW ACCOUNT, do you mean your node under 0.2.0 with the DPOS?  If so, the answer is NO.
Your passphrase for your 0.1.9g node will still work for your 0.2.0 node/wallet

No. I meant 0.1.9. I have not withdrew my coins yet. I just want to make sure if I need to make an outgoing transaction after I withdraw my coins from bter to my account.

btw, so quiet here. did everyone go to the NEM place today?

I will ask Boris. I know what you mean.

[Passion_ltc]

By NEW ACCOUNT, do you mean your node under 0.2.0 with the DPOS?  If so, the answer is NO.
Your passphrase for your 0.1.9g node will still work for your 0.2.0 node/wallet

No. I meant 0.1.9. I have not withdrew my coins yet. I just want to make sure if I need to make an outgoing transaction after I withdraw my coins from bter to my account.

btw, so quiet here. did everyone go to the NEM place today?

I will ask Boris. I know what you mean.

Your private key and signature are encrypted with 64 bytes. The public key with 32 bytes. Theoretically you are more secure if you don't send any transaction, because with a transaction your public key is broadcasted to the network.

So if you want to do a cold wallet, don't send a transaction.

It's exactly the other way around like in Nxt.

For your interest: Theoretically(!), it's still VERY VERY VERY secure and impossible to crack.

[Vagnavs]

 let's get an update every couple days or once a week on BTER funds status. I.e. number of coins held
regards,
Brian

[amanai]

Who?

[Litoshi]

let's get an update every couple days or once a week on BTER funds status. I.e. number of coins held
regards,
Brian

You can see the XCR wallet in the Top Accounts at http://live.crypti.me/topAccounts

Foundation wallet is: http://live.crypti.me/address/15292791051968645847C

As for the BTC, I am the auditor for the funds, and Mike is the responsible party for converting them into fiat for bills.  Syrenity pays the bills in fiat and BTC.  There are approx 430 BTC in our balance right now, spread among several accounts and exchanges.  This diversity is necessary to prevent a Bter type loss of all funds.

If you have any other questions, you can PM me as well.

[Tobo]

Again, NEM proves that there is a big benefit for the larger coin supply. The market cap becomes bigger and the cost per coin becomes smaller.

For instance, if XCR increases the coins to the 10x,the price will likely only shrink to 1/5 because of some buyers' psychological reasons. Therefore, the XCR market cap will double up. If XCR coins can increase 100x, the market cap will be ever higher without doing anything else. It is how the top ranked coins are doing on the current market.

[jiuge]

Again, NEM proves that there is a big benefit for the larger coin supply. The market cap becomes bigger and the cost per coin becomes smaller.

For instance, if XCR increases the coins to the 10x,the price will likely only shrink to 1/5 because of some buyers' psychological reasons. Therefore, the XCR market cap will double up. If XCR coins can increase 100x, the market cap will be ever higher without doing anything else. It is how the top ranked coins are doing on the current market.

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[GreXX]

Again, NEM proves that there is a big benefit for the larger coin supply. The market cap becomes bigger and the cost per coin becomes smaller.

For instance, if XCR increases the coins to the 10x,the price will likely only shrink to 1/5 because of some buyers' psychological reasons. Therefore, the XCR market cap will double up. If XCR coins can increase 100x, the market cap will be ever higher without doing anything else. It is how the top ranked coins are doing on the current market.

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Jiuge, is your comment a sign of support, or disbelief for this suggestion?

[GreXX]

An Introduction to DPOS

A new blog post is up at the official Crypti blog. This post is an introduction to our new DPOS system that will be launching very soon (days). If you have any questions or comments about how it will work or any of the info in the post, please comment on the post for now. We will be launching our new CryptiTalk Forum hopefully today and then we will have a thread dedicated to the DPOS discussions and answering any questions.

With that being said, let us know what you think!

An Introduction to Crypti DPOS - http://blog.crypti.me/introduction-to-dpos/

[Malibusparky]

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.

[Litoshi]

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.

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"

[GreXX]

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.

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.

[Tobo]

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.

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

[Litoshi]

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.

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

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.

[Tobo]

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.

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

[Passion_ltc]

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.

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

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.

[Passion_ltc]

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.

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

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!)