Putting your tezzies to work


#21

It is the number of Tezos Tokens committed so far to the service. The number comes from private communications not form submissions. Thanks for the question, I will clarify on the site.


#22

Chainomatic and Mike are you guys charging for your service? If so, how much?


#23

We charge zero out of pocket fees. We don’t even have a method of accepting cash payments.


#24

What I mean is how much does MyCryptoDelegate and Chainomatic take of the rewards for providing your service? If somebody were to receive a total reward of 100 XTZ by staking on their own, how much would you take of it if they used your service instead?


#25

It’s too early to say for sure. There are many cost and inflation factors that still need to be considered. MyCryptoDelegate is providing a service to people who are either not tech savvy enough to run their own staking node, their personal share is too small to justify their own node, or they simply have better things to do with their time. Our service is easy and secure, allowing for people to go on with their daily lives.


#26

Added MyCryptoDelegate to https://tezos.rocks


#27

Yes, the USB boot is the way to go.

If you can wait until next week I can get you a private container so you can play around with it.

Let me know.


#28

Thank you for the suggestion, I know it is the thing to do but I hate how all that email software works, no privacy.

I am looking at a self-hosted solution though that does the same thing, claiming anyway.

Thanks again for the suggestion.


#29

We will not take any ꜩ, you will always have control over what nominal amount you send us if any.
You have complete control, we have no access to your account, none.

At the end of your cycle/stake, you decide on what if any nominal amount we receive.

We will recommend an amount, you can give more, or nothing, the choice will be yours and yours alone.


#30

OK. All in force. I’m in no hurry.


#31

Wow Chainomatic, that is great, you let the user decide what to contribute.


#32

@MikeMonohan @Chainomatic

Thanks for helping us all contribute to the Tezos network

A clarifying question - not aimed at you, but more a theoretical concern:

If I delegate my XTZ for someone to stake on my behalf and whoever I delegate to then misbehaves (on my behalf) then my bond is forfeited - or?


#33

I would centrally hope so, harsh I know but would we want it any other way?

If you delegate you are assigning away responsibility/consensus, it matters not if they are acting on your behalf or nefariously.

You lose if intentionally or unintentionally harm is done.

Freedom is never free.

Vive la ꜩ révolution


#34

How will the average user know - or find out - which delegates are trustable then?

Delegates could set up “staking traps” luring laymen to stake with them, misbehave with the delegated stake, have that stake burnt and thereby grow the value of their own holdings. It may be cumbersome, but is it a possibility?


#35

Yes, bad people do bad things as sometimes good people do, intentionally or unintentionally, results matter.

How the average user chooses will come down to what they believe and act on negligence is no excuse in a decentralized Commonwealth.

Trust is a great power that comes with great responsibility.

Europe_Boardman_Robinson

Boardman Robinson


#36

I hope that overall we have multiple companies offering this service all located in different geographic location, or at least that guys have facilities in different places in the world.
It would not be ideal if the majority of staking is done in the same country.


#37

I could not agree more, disheartening seeing delegation services vying for central control.

Quite a coincidence that you posted this @PhilChampagne as I just finished watching the first tezos.community interview in which it seems, according to another member here, that I’m being compared to a couch surfer (time in 16:20) and they are an Airbnb.

At first, I was really at a loss, why are the delegation services marketing like it’s 2008, pre Bitcoin?

Have you seen the Tezzigator white paper? (Note - the guy that runs this seems very solid, I’m speaking from a decentralization point of view here)

Makes me want to puke (again from a decentralization point of view) , I can’t even link to it:

https://tezzigator.com/whitepaper.html

But then I remembered the Tezos_Overview_pdf 2.3 PROOF OF STAKE:

“Tezos’ delegated proof-of-stake system works by letting every stakeholder designate one or several delegates of their choice to create blocks and validate transactions on their behalf. The higher the stake delegated to a given validator, the more often
will they be called upon to create blocks.”

And there we have it, the reason these services are coming online, higher stake = greater rewards.

“It likely that large delegates will offer to share some of their profits in a bid to attract more stakes.”

Do you think?

Of course they will.

But delegation is not decentralization.

The saving point that I cling to, the one that I wish every Tezos holder would embrace is this:

“Though the Tezos system is delegated, every token holder can participate as a delegate regardless of the amount they hold.”

You know where I stand:

Have a Raspberry Pi at home become your own delegate.

Don’t want to run a computer at home, pick a location:
Amsterdam, Chicago, Frankfurt, Helsinki, London or Singapore, and spin up a container that does one and only one thing makes you your own delegate.

My wish for every holder of Tezos is that they become their own delegate, their own bank, giving away nothing, casting their own vote, embracing decentralization to the max!

Will Tezos become the most decentralized crypto ever?

I’ve cast my vote.

How about the rest of you?


#38

Indeed, the higher amount of nodes, the better for the overall health of the Tezos Network.
Once bandwidth usage becomes heavy, I would understand the effective distinct number of nodes (as in infrastructure with its own IP address and different Internet provider) will decrease. But then, as a compensation, as long as we have an increase in service providers like you offering specialized containers with the shared bandwidth with the outside world, the better.
I would not be surprised about more services. After all, if the bandwidth usage on the Tezos Network increases, that’s because of a higher adoption, and hence more entrepreneurs interested to get in this brand new business.


#39

Latency is the real issue, not bandwidth or cpu power.
Given a choice, I would always run my contracts on the closest available node.

Tezos has what, 30k wallets?
Give me 30k nodes scattered throughout the globe doing the work and Tezos will change the world the second it launches.

30,000 voters - voting

30,000 nodes - working

The Revolution Will Not Be Televised by Gil Scott-Heron

But it will be decentralized.


#40

Thanks for this Chainomatic, this is changing my mind about not wanting to host a node and voting.