No.
The protocol does not use an average of votes, it uses the median vote. This has the desired effect of excluding extreme values such as the one you used in your example.
No.
The protocol does not use an average of votes, it uses the median vote. This has the desired effect of excluding extreme values such as the one you used in your example.
Thank you!
It looks like I need some education on park rates at Nu as there weren’t many occasions to learn about it so far.
I think we need remove for a few weeks (months?) 20% of the sell side to rebalance.
I do not think there is a clear connection with parking rate and surplus rate that we want to remove.
Maybe with 20% annual parking rate for 3months, 20% of the sell side will be parked for 3 months.
So i am gonna apply 20% annual rate for 3 months.
Why not try something moderate like 1% and see what happens.
1% annualized?
Parking, by which people could earning interests, is a unique feature of NuBits in comparison with other cyptocoins. It will be an advertisement for Nu.
Actually, we think we still would offer parking rate above 0, like 1-2% annualy, even in the situation we have high NuBits demand.
I recognise that:
I will add 10% for 3 months and 5% for 1.5 months in my datafeed to start with. I hope this and further investments in increasing the demand of NuBits like NuDroid will counteract the negative trend we appear to be in.
I actually have some NBTs sitting in my wallet and I was just thinking about what to do about them –
Will park them:)
I have increased my parking rates to above 10% for durations up to three months.
The NuBits wallet Park Dialog shows currently no current rates
It takes some time for the park rates to rise:
It is a pity that we can’t see the park rate votes as you can see the last 100 votes for motion and grant in the blockchain.
Is there a way to get them directly from the client? I couldn’t identify a useful RPC command for this. I suspect this have to be an addition to the blockexplorer.
@Cybnate: There is getparkvotes
.
Wouldn’t it make sense to vote on rates which are competitive with interest rates from cash investments? If the interest is lower than what someone could get on a savings account, then they would be more likely to sell the NuBits to get a higher interest from a bank. On the other hand, the interest does not have to be much higher to give incentive for people to park the NuBits.
Interest rates will vary around the world of-course.
I agree with henry, parking is a great feature that could attract more users and extend the overall adoption of NuBits, anything around 1 or 2% per year should be our base semi-permanent interest rate.
When the need arise, like now, we can increase temporary the park rate significantly higher, in the order of 15% short term 1 month, 10% 3 months and so on (annualized).
I think keeping park rates to 0% is wasting a very useful attractive point to Nu.
As I’ve said in the comprehensive upper tier model, park rates should definitely be zero during buyback periods when we are actually putting BTC to market to buy NSR. Otherwise, they should be non-zero.
Thanks, I somehow overlooked/forgot that. Anyway based on that I understand it shows that only around 1/3 is voting for park rates around 1.5 months and 3 months. A view like we have for custodian voting in the blockexplorer would be nice though. Such information would also easier allow potential takers to follow “the market”.
Cryptocurrency investments are still much higher risk than cash investments in the real world and for many people more difficult to invest. A competitive rate would therefore have to be much higher to get "outsiders’ over the line. That’s why I choose for much higher rates than the interest you would get in most western countries.
But I’m keeping interest rates way lower than for liquidity provision as that would also pay for exchange default risk and volatility on top of the risks for crypto investment.
Please don’t. We are updating park rate with an <1month reaction time (including voting delay). If we have a lot of NBT parked longer than 1 month, we give up control for those NBT parked between 1-3 months.
The current surplus nbt is a result of up-trending in btc price. it could go down in a month. then we will need to free parked nbt.
I am voting 1% on 22, 11, and 5 days. I may need to startup a datafeed someday.
1% (annualized) is 0.06% return for 22 days…
I do not think it is enough for people to park.
Ive been voting 1% on those intervals for a month now. Im trying to argue for moderate park rate increases so we can experimentally test exactly that: what is the return on nubits parked for park rates offered? You can theorize, but this is such a new field that experimental evidence reins supreme. Even comparing to the last time rates were offered, Nu is in a stronger place and should have even better returns.
There’s also something to be said about how if you say 10% in the forum, parkers will wait for 10% on the blockchain even if they would have parked at 1%.