I knew it was the median but what median, but still think the round numbers and 1% difference between each active durations was a very coincidental outcome looking at the datafeeds and the votes.
Regarding median, given that the rates have been in broken numbers all the time from zero to where they were yesterday, I understand it is the median over the last 1000 blocks or something like that, so only when the voting doesn’t change over the last 1000 blocks and everyone votes real numbers this coincidence is remotely possible. Assuming no scripts been used by major shareholders which won’t be easy, I still think we could have won third division lotto
That is the big question. We don’t have a good tool to show us this on an ongoing bases, but it is actually crucial information whether to raise or lower the rates. Maybe something for Alix to pick up? @willy.
I fear you’re right.
Fot that reason - and because I have no clue about how long the NBT are parked (plus the reserves are still low) I don’t adjust the park interest in my data feed now.
Id like to point out that lowering the rates by even 1% consistently accross the board would likely cause a lot more people to park out of fear that rates will drop in the near future.
You got a point.
I take that into consideration.
Maybe a slow but steady decline of park interest (not speaking of the resulting rate, but the configured values) might lead to better results.
I fully agree.
More than once I encountered problems trying to think of algorithms to automate or at least assist decision making.
Deriving park rates from the market situation will be no easy task.
Factors like BTC volatility (amplitude, frequency), ratio of NBT buy and sell side, absolute values of NBT buy and sell side, the velocity of the change of ratio and absolute values and likely some more can play a role for determining the park rate.
This will become even more complicated once more than just US-NBT are on the market.
Better start now with creating the algorithm(s) - only I don’t know how…
I think that reducing park rates too promptly and having park rates without continuity is very counterproductive especially if Nu is looking for new users, and I am talking about the average person here…
Thinking logically, who already owns or frequently trade cryptocurrencies is the first one who will park his/her NBT defeating the purpose of having park rates in place (we want to bring in new users - see buy pressure)
If the average Joe decides to buy some NBT and park them to earn some interest, it will take a while from the time he manages to organize his finances to get some money in the crypto world and buy some NBT. After having a positive experience (reliability of the system/ease of use etc…) we can sure count on having a new “customer” that can take in another “customer” and so on…
So cutting interest rates before the user we target has a chance to make a move is pointless.
I believe semi permanent park rates that beat or equate inflation levels in the pegged currency (at the moment USNBT) are one of the best instruments we have to attract non-speculators to use NBT.
Nu, should look, especially because of its pegged currency system, to increase adoption among the average person not just investors/speculators/crypto savvy etc… and park rates could be an excellent instrument at it.
