|27 Mar 2023|
|kozel||No margin trading/lending for DCR. Spot unaffected.||19:30:34|
|max.gripe||Hmm what would be the justification? Why would someone want that?||19:31:00|
|kozel||Hmm, out of curiosity I checked the Simple Earn product. Last time I checked I think they'd upped the personal quota to 300 DCR per person. Now it's 10,000 DCR.||19:37:38|
|max.gripe changed their profile picture.||19:38:05|
|jz||Sounds like someone's got a hole they need to stop making deeper.||19:56:11|
|jy-p||remind us what the return is on their staking product versus actually staking||21:21:11|
|kozel||At the moment it's 1.67% APR.
|jy-p||it's pronounced GAINZZZZZ||21:33:08|
|jy-p||staking dcr has an average reward of 6.8% / yr||22:48:01|
|jy-p||so if binance is staking themselves, they're pocketing a >5% spread||22:48:42|
|Exitus||If entities like TS and Binance are indeed staking, maybe it would be safer to allocate the reward change to the Treasury instead of PoS?||23:49:29|
|28 Mar 2023|
|jz||I think them lending is more likely than staking (Binance).||00:13:41|
|jz||We haven't been constrained by the Treasury reward thus far, some people seem to be of the opinion that if we had more tax revenue (that's effectively what funds the treasury) we'd have more spending and that would benefit us, to me that's just repeating the model you have with states, you'll get more experiments for sure but the money will mostly be wasted.||00:16:47|
|jy-p||and then that dcr will be sold to pay for the work||00:17:36|
|jz||We have the opposite problem, there's not enough good stuff to spend money on.||00:18:46|
|jy-p||my experience has been that when our price action is bad, e.g. recently, people who would otherwise be contributing pivot to working on other stuff||00:19:52|
|Sylvain joined the room.||01:12:15|
|radix joined the room.||04:55:17|
|radix||binance withdraw decred ?||04:56:17|
|jz||Discussed above they're just halting margin, spot trading continues as usual.||05:01:00|
After this proposal approved (https://proposals.decred.org/record/a8501bc), if all miners give up (and are coordinated, like they are to maintain sell pressure), we end up to have only PoS, and according to this comment in politeia from jy-p :
I have already pointed out in the proposal why taking PoW to 0% is not feasible - it would require a substantial retooling of consensus code and likely require making changes to how PoS works, e.g. adding slashing or another penalty mechanism for stakers who attempt to double spend.
How will the hybrid consensus work with actual implementation?
|jholdstock||so long as one person mines, everything is fine||12:53:06|
|jholdstock||and if we reach a situation where nobody is mining, I will happily commit to doing it||12:54:04|
In reply to @jholdstock:decred.org Funny you should say that, I was going to say that I'd happily do it as well, even in excess of what the extra PoS rewards might bring as a result of the vote.
and if we reach a situation where nobody is mining, I will happily commit to doing it
|jholdstock||there are likely thousands of people out there who would happily be the only person in the world mining decred||12:58:15|
|jholdstock||hence its a non-issue||12:58:18|
|kozel||Yeah, being the only one would be sweet but even just from the point of view of maintaining the health of the network it makes sense for people with skin in the game to commit some resources to that. ||13:00:00|
|warrior||A lot easier with GPUs||18:22:17|