NuShare holders: lower NSR fee now to 0 NSR

While we don’t have as much information as we would like to base our actions off of at the moment, it appears likely that the recent problems withdrawing NSR from exchanges are because exchanges may not be using a high enough fee.

The exchanges can fix this by implementing a dynamic fee, which can be had using our getinfo RPC, but shareholders can also fix it by lowering the fee down to 10 NSR. We ought to pursue both resolutions simultaneously to ensure the highest chance of quickly resolving the withdrawal problems we have observed at Cryptopia and Poloniex.

Therefore, I ask that all minting shareholders vote for an NSR fee of 10. That was the status quo value that the network is adapted to. It recently rose to 100 NSR. If exchanges use a static 10 NSR fee, then their transactions will be rejected by the network.

The risks of lowering the fee are minimal. It is basically that someone will spam the network with very cheap transactions. In more than two and half years of network operation, I have not observed any use of spam or DDoS transactions, so the risk is very low. If it did occur for the first time, the fee could be quickly raised again.

Recent information suggests there are major risks at the moment of having a fee higher than 10 NSR, in the form of our partners’ automation not handling that protocol change properly. I strongly recommend all minting NuShare holders reduce the NSR fee down to 10 NSR. To do this, make sure the Unit is set to NuShares, go the Vote tab, and click on the Fee vote button at the bottom of the interface. Then set the NuShare fee to 10.


How did it rise to 100 NSR? And why?


This is a UASF.

voting for 10 nsr right now.

Voting for 10 NSR, never voted for more.
Exchanges have troubles with dynamic fees when you are not called Bitcoin apparently. Or maybe they are still sitting in those huge queues, maybe that is why?

@Phoenix can’t you just do me the favor and give your funny “shareholder” answer? It is always amusing when I read something like “shareholders have decided” or “the overwhelming majority of shareholders” and so on and so forth… Please, go for it. Nobody can do it the way you can.

The network fee for NSR is currently zero. I had advised doing this to eliminate complications when exchanges incorrectly use fixed fees to send NuShares. Cryptopia withdrawals and deposits are back up and working, but with a 0.1 NSR fee included. This means that if minting shareholders raise the fee, transactions will fail at Cryptopia. Therefore, let’s be sure to keep this at zero. Hopefully soon we will be large enough for exchanges to pay a little more attention to their NSR listing implementation.

For today, let’s keep the NSR transaction fee at zero.

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You had advised doing that? Could you translate that in shareholder language? How did you advise putting the NSR transaction network fee to zero?

Why is @sigmike remotely okay with this? Isn’t he the last one here who knows about the software that you rely your project on? So you have a limited block size, a non-zero block interval, and a zero fee to put transaction into the blocks. What could possibly go wrong?

Its literally a one-liner in any programming language of your choice to bring the Nu blockchain to a halt with 0 fees.

@sigmike is a paid lemming. He blackballs addresses at will if @Phoenix wishes for that to happen. As long as @sigmike can cash in, he is willing to do anything.

fees set to 0 can be a final nail I’m afraid

I never said I was. I think it’s a bad idea. I don’t even have any evidence the fee is a problem for exchanges.

I was asked to do an emergency release that blocked addresses to suspend an ongoing theft. I did that but it was shareholders who decided to block these addresses by installing this version.

No but in that particular case even if I don’t think blocking addresses is a good thing, it was not for me to decide.


@sigmike, welcome to the jungle.

[quote=“Phoenix, post:7, topic:5151”]
This is a very bad idea. Because an exchange can’t work out how to calculate a fee, we put the entire network at risk. Not that it was healthy after the NSR theft but at least there was integrity. Are you on a quest with bad decisions, first the theft and now this? Time to hand over?[/quote]

So I assume this 24h window for withdrawals of NSR has expired by now? It is still 0 NSR.

  • Alcurex has fee set at 1,600 NSR.
  • Cryptopia has fee set at 0.1 NSR.

Both of them appear to be static, meaning regardless of amount. We’re open to denial-of-service attack with zero fee. Alcurex can withdraw a large amount of NSR without problem. Cryptopia may not.

Shareholders must weigh the risks of network overload against the value of the Cryptopia listing. As long as such overload does not cripple NuBit and NuShare holders abilities to transfer, I favor that risk for now as in my understanding the worst scenario is maximum blocksize for the duration of zero fee.

Given the current sentiments, you can bet on it that someone will try creating even more problems than we already have.

I strongly suggest shareholders that we invest a few hundred dollars ((e.g. have sigmike liaising directly with them) in helping out Cryptopia in getting it right instead of opening up to DDOS attacks and the risk of not only both exchanges locking up but all transactions.
I suggest shareholders voting for fee <1000 NSR but >0 NSR.


Strange that this hasn’t happened already.

Doing some math I suggest to have it > 100 NSR, because all below is too close to nothing with the current NSR rate of 10 Satoshis.
With 100 Satoshis you have $0.02/kB, which should be a good compromise of cheap tx fees and network defense.
Astonishingly this would be the same price as PPC’s current tx fee is.

It usually takes time to automate and build up such attacks to be successful according to the people I consulted.[quote=“ConfusedObserver, post:17, topic:5151”]
I suggest to have it > 100 NSR,
Yes, that would be ideal, but anything is better than <1 NSR.

Programming isn’t my profession, but even I should manage to automate sending tx via RPC.
Nu’s best defense at the moment is that few people use it and have synced blockchains :wink:

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Forgot to add, …and bloating the blockchain making hosting it even more expensive. Not worth the risk and costs imo.