Bible Pay

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  • sunk818
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    • April 24, 2018, 02:02:20 pm

@ 616 could you maybe explain your solution in greater detail?

This is what 616 suggested a potential solution to the recent issue with understakers that receiving 100% PoDC rewards.

@ Rob - Is a scenario like 616 possible to do?
Does it require a lot of effort?
If for any reason, could the wallet holder unlock the tx and send it elsewhere?
The mechanism of locking, then unlocking to create another tx to lock sounds complicated?

Do other aspects of the wallet expect an unlocked tx to operate correctly? (exec podcupdate, exec bankroll, send tx, etc)

Re: Re-Enable Team BiblePay Requirement in PODC
Reply #11 on: 2019-01-31, 11:17:44
Regardless of if the system lets this behavior occur or not, it goes against what the system says it should do.  So ultimately, a user that was honorable would have said, "hey Rob, this is not working as you intended it to".

I think the real solution is for PoDC payments to work like this:

PoDCUpdate looks and sees what you need for stake given your RAC
PoDCUpdate does a transaction going for 110% of the necessary stake
The Transaction becomes locked
The next time PoDCUpdate runs, it checks if the locked transaction exceeds the minimum required for your RAC, if so, no new transaction, if not, it does a new transaction

When the Payment is triggered, it ensures that all transactions for stake are still locked (much like with a MN payout).

  • 616westwarmoth
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    • September 01, 2017, 09:57:50 am
Re: PoDC stake: lock transaction within wallet and can not be transferred
« Reply #1 on: February 11, 2019, 06:17:46 pm »
Here are my proposed improvements to PoDC:

Modify the staking percentages for rewards :- eliminate the formula for staking percentage and go to a 20 BBP supports 1 RAC system

By eliminating the percentages, you simplify the explanation.  For every 20 BBP you stake, you support 1 BBP RAC.   

  • My BBP RAC is 1000, and I stake 2000 BBP, I have 100 staked RAC (2000/20).
  • My BBP RAC is 100 and I stake 2000 BBP, also have 100 staked RAC (2000/20), same as above
  • My BBP RAC is 1000 and I stake 20,000 BBP, I have 1000 staked RAC (20,000/20) and get 10x the rewards as the previous examples
  • My BBP RAC is 1000 and I stake 100 BBP, I have 5 staked RAC (100/20).  I still get a reward which lowers the barrier to entry

Treat PoDCUpdate Stakes like Sanctuary Stakes : Lock the transaction and require it to still be locked when the daily payout occurs

When PoDCUpdate runs, it checks the users current RAC from the most recent reports.
If there is no existing Locked PoDC Stake, PoDC will create a stake at 110% (or whatever the user has if less than) and lock it.
If there IS an existing Locked PoDC Stake, PoDC will check to ensure it is sufficient (but not excessive) for maximum rewards (roughly 95%-115% stake under the current system, 105%-115% under the 20:1 revision above), create a new Locked stake if it exists outside of those parameters.
At PoDC Payout, the MN network would compare the locked stake amounts to the user RAC and only pay if the stake was still in a locked status.  This would eliminate the unfair stake shuffling that some users had used to circumvent the staking system.

Remove the requirement the PoDC Users mine: The requirement is not generally in force and adds complexity without a commensurate benefit to security

Currently when PoDC is DR0 or DR1, you're supposed to be mining to participate in PoDC.  While there are good arguments for this, it's not been enforced and the primary benefit to me is network hash rate (adds protection from 51% attacks).  However, we have protection in that regard from the no more than 1 in 10 blocks can be mined by a single wallet and think the loss of this would simplify things at a minimal risk.

I would be interested to see the converse be true however...that participating in PoDC at some level (say 1000 RAC) would grant an exclusive mining window of 5 minutes or so but I'm not entirely sure of the potential for abuse there.

Modify Team Requirement20 BBP/RAC for Team Members, 25 or 30 BBP/RAC for non-Team Members

This gives  a bonus to those who are on our team, but allows for people that are attached to their "home" team to still participate.  While I feel non-Team members are more likely to be mining solely for profit, it would be a good balance between expansion of users and protection of the user base.   Additionally, Team Membership has marketing value long term and increasing our stats there will allow for us to place better in Challenges for increased PR as well as improve our overall ranking which can be used in a similar fashion.  The number of potential users that participate in BOINC, specifically World Community Grid, is huge and are likely in the top end of easiest to recruit.

Reduce the World Community Grid multiplier: reduce the multiplier to 1.25 from 1.5 RAC

The 1.5 multiplier is too lucrative, and makes Rosetta@home significantly less productive.  Shifting the multiplier would balance our work more so.

I am a proponent of PoDC.  I think the system could be solid with some  changes and aligns with the mission of the coin to help people.  The complexity of PoDC will always be moderately high in part due to the fact that there are not many PoDC-style coins and overall crypto universe is unfamiliar with it.  But the system has the potential to be stable long term while locking up funds and reducing market turnover.  Removing or significantly reducing it is in my eyes a disservice to our community.