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Tezos baking by the community has started
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Date: July 22nd, 2018 9:51 PM Author: nubile snowy potus Exciting to see entities other than the Foundation start baking
http://tzscan.io/blocks -- For cycle 7 (based on cycle 0 delegations), only the very early activators and users of tezbox were able to delegate to the delegate service bakers, so hopefully we will see a lower Foundation baking ratio starting in cycle 8
The mysterious tz1Yju7jmmsaUiG9qQLoYv35v5pHgnWoLWbt seems to bake a lot |
Date: July 22nd, 2018 9:58 PM Author: nubile snowy potus https://www.reddit.com/r/tezos/comments/907lie/the_most_accurate_breakdown_of_baking_xtz/
"Currently 35% of 764,317,931 = [272 million] XTZ are baking.
Breakdown:
150 million: the founders and foundation,
32 [million]: http://tzscan.io/tz1Yju7jmmsaUiG9qQLoYv35v5pHgnWoLWbt
[21 million]: gate.io's baking
12 million: Tezos.Community http://tzscan.io/tz1TDSmoZXwVevLTEvKCTHWpomG76oC9S2fJ?default=baking
15 million: https://www.mytezosbaker.com/bakers-list/ except Tezos.Community
42 million: [other small bakers]" |
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Date: July 23rd, 2018 12:46 PM Author: Zombie-like Chapel Whats the reward rate? (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36480929) |
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Date: July 23rd, 2018 6:06 PM Author: Smoky confused stage jew 5.5% inflation for the total supply of xtz. the newly minted xtz only goes to those baking, however (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36483220) |
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Date: July 24th, 2018 5:33 AM Author: Wild Odious Gaping Depends on which delegate you use. If you delegate to the Tezos Community, you're looking at a roughly 9.4% annual reward percentage, which is pretty good: https://www.tezos.community/delegate-home (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36485851) |
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Date: July 23rd, 2018 6:55 PM Author: big tanning salon pisswyrm wtf is baking? is it like mining? give it to me straight, in xo-speak pls. (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36483522) |
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Date: July 23rd, 2018 7:15 PM Author: mint hairraiser legend "Baking" is what other POS coins call staking.
From the horse's mouth:
Bitcoin has mining, Tezos has baking. In Bitcoin, miners compete to publish blocks containing a proof-of-work stamp by repeatedly hashing block headers. In Tezos, block creation is done by bakers. Rather than deriving the right to create a block by finding the solution to a proof-of-work problem, bakers obtain that right when a Tezos token (or rather a roll, see below) they own (or that is delegated to them) is randomly selected to create a block. Since not everyone holding tokens is interested in being a baker, tokens can be “delegated” to another party. The delegate does not own or control the tokens in any way. In particular, it cannot spend them. However, if and when one of these tokens is randomly selected to bake a block, that right will belong to the delegate.
(https://medium.com/tezos/its-a-baker-s-life-for-me-c214971201e1) |
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Date: July 23rd, 2018 7:53 PM Author: big tanning salon pisswyrm lol at this fraud attempt to make it "stand out" more. (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36483875) |
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Date: July 23rd, 2018 8:48 PM Author: thriller chocolate library circlehead Cr lmao @ hitching your crypto wagon to $ilicon Valley Theranos type people just lmao (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36484185) |
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Date: July 23rd, 2018 10:24 PM Author: mint hairraiser legend The name may be gimmicky, but delegating/baking is actually pretty neat (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36484725) |
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Date: July 25th, 2018 2:58 AM Author: Wild Odious Gaping (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36491993) |
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Date: July 23rd, 2018 10:43 PM Author: Grizzly box office shitlib Yeah it irks me but it's just savvy marketing (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36484855) |
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Date: July 25th, 2018 12:33 AM Author: nubile snowy potus Lot more diversity in the bakers in Cycle 8.
Interesting to see the random whales baking alongside the Foundation and the Delegatees.
MyCryptoDelegate got a lot of support but growth has slowed: http://tzscan.io/tz1Tnjaxk6tbAeC2TmMApPh8UsrEVQvhHvx5?default=baking
Xtez had early dominance before alienating delegators with his lawsuit threats: http://tzscan.io/tz1LesY3S4wfe15SNm1W3qJmQzWxLqVjTruH?default=baking
Tezos Community spooked people when early word of its over delegations came out, but it recovered marketshare and grew in dominance: http://tzscan.io/tz1TDSmoZXwVevLTEvKCTHWpomG76oC9S2fJ?default=baking
Tezzigator makes it pretty clear when it "closed shop" and when it reopened: http://tzscan.io/tz1iZEKy4LaAjnTmn2RuGDf2iqdAQKnRi8kY?default=baking |
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Date: July 25th, 2018 1:03 AM Author: chestnut adventurous persian Tezos whale here. Best baker to delegate to? Thank (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36491699) |
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Date: July 25th, 2018 3:01 AM Author: Wild Odious Gaping split up your stack & delegate portions to a few bakers listed on http://www.mytezosbaker.com/ (select the ones that aren't overdelegated & take approximately 10-20% commission) (http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36491998) |
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Date: July 25th, 2018 12:45 PM Author: Hyperactive high-end corner How can we tell if they are overdelegated? I am not sure mytezosbaker is up to date
Also, did you use tezbox or Galleon? No security concerns?
I got my activation code but haven't done anything since then since I really prefer to use a Ledger and there is no support yet from Ledger itself. Not sure if my paranoia is warranted and if it is worth missing out on baking. |
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Date: July 25th, 2018 2:11 PM Author: Wild Odious Gaping It's easy to tell if they're over-delegated: If the amount available for a bond/security deposit (i.e., the delegate's balance) is less than 8.24% of the total amount staked, then the address is over-delegated. What that means is the account will run out of tezzies to post as bond while baking -- what that means is that some stakeholders who selected that address as their delegate are not getting any benefits because their tezzies can't be staked.
I didn't use tezbox or galleon. I did it on the command line by installing the tezos-client from github, creating my own node (to maintain a local copy of the blockchain), and performing the activation manually. I did the same thing for originating contracts to delegate tezzies to the bakers I selected.
There's literally *nothing* dangerous about baking. All you're doing is letting someone "use" your stake to increase their odds of getting selected as a baker. Bakers are just glorified representatives. The benefit of baking is that the rewards generated by the baker are distributed to the stakeholders in proportion to their stake. It's literally free money. |
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Date: July 25th, 2018 5:15 PM Author: Hyperactive high-end corner thanks
I am not worried about baking, worried about tezbox and galleon security
I would use the command line but I wouldn't know a command line from my asshole. I have a Windows PC and also don't know shit about Linux. If I just need to follow directions, kindly send me a link and I'll see if I can manage it, thank. |
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Date: July 25th, 2018 11:55 PM Author: nubile snowy potus I haven't tried Galleon, but it has supposedly been audited and is the de facto official wallet.
TezBox is made by one of the board members of the secondary Foundation. (The Tezos Community Foundation, not to be confused with the primary Tezos Foundation.) |