I finally decided to see what this chain is all about!
It seems there is no downvote button here. I like that.
I don't usually downvote on Hive, but that is just me.
I just choose not to vote for content I don't prefer.
1 BLURT = $0.00566813
There are transaction fees I see;
Operation Flat Fee 0.001 BLURT
Bandwidth Fee 0.100 BLURT per kilobyte
How does this work? Thanks to anyone who can explain.
Checking the explorer--
https://blocks.blurtwallet.com/#/@darkpylon
darkpylon upvote @saboin/more-small-updates-or-... (100.00%) - 13 seconds ago
Tx fee: 0.018 BLURT
Let me see my token balance
41.805 BLURT
I vote on another post to see if this is true.
darkpylon upvote @megadrive/how-to-become-a-blu... (100.00%) - 44 seconds ago
Tx fee: 0.019 BLURT
Check my token balance again
41.783 BLURT
Very interesting! On Blurt you pay for upvotes.
That is fascinating!!
This operation will cost you 0.207 BLURT
I suppose this right here is a disincentive to spam.
Well I am very interested in how these tokenomics play out.
On Blurt, you pay for all transactions.
There are two fees as you saw. One is a flat fee on every operation, and the other is a fee based on the size of the operation.
The formula is this:
That was the idea behind it.
In the beginning it was resource credits like on Steem and Hive, but we switched to fees instead during the first hardfork to curb the spam problem.
Fees are set by the witnesses. We each vote for what we want the fees to be, and the actual fees are the median of the witness-voted fees.
You can see the fees set by the different witnesses on this explorer: https://ecosynthesizer.com/blurt/witnesses
I find it super fascinating that this is how it works. I need more BLURT!
Welcome to blurt it's a great place to be
Receive the most cordial welcome to the Blurt family, we hope your stay in this chain is of your liking and you know many great users.
Good vibes.
Thank you! I appreciate your comment @angelica7 thanks for the welcome.
No downvoting , and 'paying as you go', gives it a much more organic - free market - feel to it, (imo).
Hi, I am one of the co-founders of Blurt. I am glad you found our tokenomics interesting. There is a funny story behind the fees, at first we launched without fees but one week into launch someone posted thousands of dick pics all up and down trending to try derail the launch, one of the other social chains must have been threatened.
We added fees within two weeks and never looked back, witnesses can change fees higher if we get under siege and thus drain the automated attacker’s account.
Fees are small but they make you think whether an action or content is just spam, on other graphene chains we have annoyances like continual unvoting and voting of witnesses to try bloat the chain, Hive now requires 1 TB discs to be run by witnesses, Blurt however is small enough to operate on a raspberry pi with a 64gb ssd card, maybe even a 32gb.
Fees go to null (burn) but we want to in the next HF redirect them to witnesses because it is they who run the nodes and need to upgrade as network demand increases.
On Ethereum people are paying like $150 in fees or more to mint NFT’s so the small Blurt fees are more akin to Matic or Fantom layer-2’s
You could run a hilarious advertisement about a Dick Pic resistant algorithm, if i feel like trolling hive more I might beat you to it too!
Lol DPFT - Dick Pick Fault Tolerance.
There are some good people on Hive, pity a handful of bloodthirsty power-hungry individuals spoil it for the rest, I have nothing against Hive and hope they prosper and that the bad eggs move on.
yeah lol i got 10 fucking weeks of having to blow 450 Hive a week on the free market, lol boo hoo poor me...
you powering down your Hive? We reduced Blurt PD to 4 weeks, might reduce further later, I don't believe in hiding behind artificial restrictions.
I do believe in responsibly providing liquidity. I am actually trying to get 30,000 Blurt together asap to get into the BBLURT-BNB LP on Robinaswap.
hive to Blurt is pumped up, so i will probably try buying through some BNB to Blurt now
Nice, I just funded you 335 Blurt via this vote to help :) (testing comment edit)
Thank you very much!
Does it take 7 days to pay out like Hive?
Nice, I just funded you 335 Blurt via this vote to help :) Check Ionomy and Probit for some good prices.
Thanks for helping me get 40% off. I owe mentioning this to @lucylin if you are moving hive over, send it to Binance, then through one of these back doors, i paid $0.0055 per Blurt just now.
THANKS!
Congratulations, your post has been curated by @r2cornell-curate. Also, find us on Discord
Felicitaciones, su publication ha sido votado por @r2cornell-curate. También, encuéntranos en Discord
You anti downvote nazi's just had to get your way didnt you.
lol you and @lucylin are downvote haters I know it lol