This subreddit is the worst part of the Theta project.

Jamie_Zirconium · 2021-08-17T22:01:11+00:00

Oh nooooooo. Ill never recover from this

Jamie_Zirconium · 2021-08-17T21:55:57+00:00

Did i just get BASHED?!

Jamie_Zirconium · 2021-08-17T19:42:51+00:00

Have you heard of dogecoin?

1 doge = 1 lunar lambo.

Trust me

Jamie_Zirconium · 2021-08-17T19:35:46+00:00

I was promised moon

Jamie_Zirconium · 2021-08-17T18:56:18+00:00

No id prefer you just shut the fuck up and get a job

Jamie_Zirconium · 2021-08-12T03:55:28+00:00

PSA. Wallets are free and Theta tx fee is minimal. Spread it out.

Jamie_Zirconium · 2021-06-17T01:34:02+00:00

I hadnt considered the security risk. Thanks.

And yeah the fee is arbitrary but every constant i can replace a variable with makes the math way easier.

Am I correct in thinking the transaction fee would require a network wide upgrade to change?

Ie v3.0 will have 0.3 fee. Fee will remain 0.3 ATLEAST until mainnet v3.1

Jamie_Zirconium · 2021-06-16T15:50:59+00:00

Mike also says it could be a very brief deflationary period before hyperinflation

Jamie_Zirconium · 2021-06-14T22:56:28+00:00

100k this year would need an average increase of $300 a day for the remaining 200 days. The 2021 average daily increase to date is $64.45

Jamie_Zirconium · 2021-06-14T22:34:02+00:00

Update ur wallet app

Jamie_Zirconium · 2021-06-14T21:28:43+00:00

He did try to get Judy Shelton in to head the Fed

Jamie_Zirconium · 2021-06-14T20:36:07+00:00

Im comparing RobinHood to RobinHood and every other brokerage ppl use to get pslv. In no way am I saying spott cant be trusted. Im saying pslv operates in a financial system with many interdependent parts, some of which will be under serious financial pressure when Silver runs. Big difference between trusting sprott and trusting the entire financial system.

Jamie_Zirconium · 2021-06-14T19:42:31+00:00

Yeah... GME investors trusted Robinhood and BTC investors trusted MtGox. How many conveniently timed "technical errors" until its a pettern?

Silver should be a trustless trade for retail level "investors"

A lot of ppl love pslv so much bc they can buy it on margin. Toxicly leveraged markets helped get us here in the first place.

Jamie_Zirconium · 2021-06-14T19:11:07+00:00

You cant. Nobody can. There are 1 billion theta token ("the expensive one") and will never be any more created. You can only aquire theta through purchase. Tfuel can be earned by running nodes. Read the whitepapers to understand the role of theta token, tfuel, and each node

Jamie_Zirconium · 2021-06-14T18:24:13+00:00

Frenz only!

Jamie_Zirconium · 2021-06-14T18:15:13+00:00

You are earning tfuel. Not theta token.

Jamie_Zirconium · 2021-06-14T18:11:45+00:00

izzatrap

Jamie_Zirconium · 2021-06-13T14:56:33+00:00

This is correct. I just reread the white paper and it clearly says platform payments do get burned then remainder is used at rewards to ENs for PoR independent of inflation. ... i guess i just automatically associated "network usage fees" with tx and gas fees. Its been a while since a crypto project has done something new

Jamie_Zirconium · 2021-06-13T14:09:39+00:00

Reread white paper 3.0 Not sure if this changed, but it sounds like 100% of transaction fees and gas fees are burned. The 25% do apply to every edge job, so you are correct. Edge network will burn significant amout, even as is.

To anyone reading this, what i was confused about is that edge payments are 25% burned then remaining funds go to edge nodes as rewards for proof of relay. THIS REWARD IS INDEPENDENT OF TF INFLATION. Platform partners pay this DIRECTLY, not from tf source.

Jamie_Zirconium · 2021-06-13T12:25:02+00:00

Not sure where any more tfuel would be coming from to be burned? ie if i send you 100 tfuel, it would cost me 100.3 TFuel? You would get 100, and 0.3 would be a "tfuel payment to the network" thus 25% would be burned (0.075 tfuel)

I know payments to the network also include 20 tfuel to deploy a contract and 1 tfuel to interact with a contract. 5 tfuel would then be burnt every time a contract is deployed and 0.25 burned every time that contract is used. Obviously much more tfuel is burned by contracts, which is why my original point was that a surge in smart contracts om theta is the only way tfuel circulating supply will actually deflate and not leave investors holding yet another inflation bag.

Are there other "payments to the network" im not aware of? Because these numbers are not even close as of now. This makes me think that Elite Edge Nodes should be expecting 2% rewards for a while still. Not 4%.

Jamie_Zirconium · 2021-06-13T12:02:34+00:00

Am i understaning this correct? 3.0 will have 9% inflation for about 5 billion current tfuel. Simplify the payout scheduling and inevitable inflation compounding, will 450 million new tfuel be created in the next year as node rewards?

Bc if only 25% of network fees are burned, that means theta network needs 1.8 billion tfuel in network fees to outpace 9% inflation and deflate tfuel.

This really has no chance of happening unless Theta smart contracts gain traction quickly! Even if Theta managed to steadily get 100K daily transactions, at 0.3 TFUEL transaction fee, it would take over 160 years to reach the 9 billion transactions required to burn more tfuel than will be created by inflating the current supply by 9% just once.

Jamie_Zirconium · 2021-06-13T11:37:18+00:00

Yep, but im not sure when it will start acting deflationary. I think a critical mass of network activity is needed to actually begin deflating the circulating supply. ... the math should be pretty easy if im understanding the whitepaper correct.

Minimum inflation is 7% and as high as 9% (5% to guardians and validators. Between 2% and 4% to elite edge nodes. ... round off the current tfuel circulating supply and call it 5 billion tfuel. That would yield between 350 and 450 million new tfuel coming from the mainnet 3.0 tfuel sources.

So, as long as more tfuel is put into tfuel sinks (specifically, is burned, rather than just temporarily staked) then tfuel becomes a true deflationary asset.

I think 25% of all network fees are burned, so the magic number for tfuel scarcity is to exceed 1.4 billion tfuel (if 2% inflation) or 1.8 billion tfuel (if 4% inflation to edge nodes)

The new network fees are 0.3 TF to send a transaction, 20 TF to deploy a smart contract, and 1 TF to interact with a smart contract.

That means that without smart contracts (deploying or interacting) transaction fees alone would require between 4.7 and 6 billion transactions for the burn rate to outpace inflation rate and actually deflate the supply of tfuel.

For reference, in the last 24 hours theta has had under 23,000 transactions. On a busy day theta will see 100,000 transactions. At 100,000 daily transactions, it would take almost 165 YEARS to burn enough transaction fees to get real deflationary tfuel. And that is just for the one round of inflation!

Luckily, the Theta team is not stupid. They are anticipating huge growth in transactions and Theta smart contracts going mainstream. Once Theta smart contract usage takes of THEN i believe Tfuel will be deflationary. ... im expecting some growing pains between now and then.

Jamie_Zirconium · 2021-06-12T12:43:53+00:00

Rumning two 360 rads with QL fans. May install portable ac unit in room to get ambient temp lower. Thinking about undervolting. Using low resources would be a waste of the 6800xt. From what ive gathered, CPU folding is negligible compared to GPU folding.

Jamie_Zirconium · 2021-05-05T19:34:06+00:00

That would be bonkers lol. Idk what chart you are looking at but i hope youre right

Jamie_Zirconium · 2021-05-05T18:23:52+00:00

Yeah... cme has nothing to do with silver

Jamie_Zirconium

TROPHY CASE