I'm a billionaire!
And I just gave someone 20,000 billion.
Granted, it was my own alt account.
Who thought these kinds of numbers were a good idea?
Perhaps it allows for precision spends, but with the changes in Resource Credit costs after the Hardfork, my Splinterlands rental account was recovering very slowly, so I gave it a helping hand and delegated RCs across. I also then could remove my HP delegation to it, so in five days, I will get that back.
They have been a long time coming.
And, because there is no direct risk of reward pool abuse through RC delegation like there is with HP, it can essentially be delegated and undelegated on the fly, whereas removing a delegation of HP comes with a 5 day return protocol before it can be actively used again. Couse you know - if there is the potential for abuse, people will abuse.
Not all people mind you. Just enough.
Expecting people not to abuse exploits is a losing game, because people will continually take advantage unless the loophole is closed. I tis like the "pay what you can" attempts at business where eventually, they don't last because people will increasingly reduce "what they can" regardless of whether then need to or not.
But, if people didn't attack weaknesses in the system, the systems wouldn't develop as fast or as well as the do - innovation wouldn't progress. It is why so much innovation comes out of military development, because they are essentially looking to attack through enemy defenses, so are looking for any weaknesses, or are looking to create weaknesses where a credible attack vector might not yet exist. This is what "undermining" is, where heavy walls surrounding a castle could be brought down, by digging beneath to make them collapse.
I was just thinking what the abuse might be for RC delegation, but the worst I could come up with at this late hour, was Spam comments. However, I don't think that would take much HP anyway.
What I hope with the delegation capabilities now though, is that it will be used to bring people onto the platform and allow them to engage without having to buy HIVE straight up. This sounds like a negative, but I think that getting a lot of people in and allowing them to interact early would be more beneficial overall.
I am not sure if it is possible to do, but it would be interesting to run some kinds of campaigns for mass signups where an RC pool automatically delegates enough RCs to the accounts for them to do what they need to do and then, let them earn HP over time if they don't want to buy. Once they have enough HP accumulated or if they go inactive, the delegation is removed.
It could also be possible that the RCs are delegated on the fly at sign-in too, which would be suitable for gaming for example, where as they come in the door they are given RCs and when they leave again, those RCs are removed to wait for others to arrive.
I was thinking about this for Splinterlands, where for example, they could have 1000 Splinterlands promo accounts that are numbered on the Hive blockchain and can be used for "trial" purposes by new players, letting them play a number of games before taking the seat back. They could even deck them out with cards for different levels of play and anything the accounts earn could get burned or, go into a kitty and distributed to SPS holders or something. This would give the chance for new accounts to trial and perhaps allow for current players to try higher leagues with a different set of cards for a game or two, if the seat is available.
Similarly, it could also be used by @threespeak where there are hot accounts that people are able to use to comment, without owning a Hive account. The accounts can comment and earn, but the person commenting doesn't earn anything directly, or give options on how to earn or buy a full Hive account. The earnings from the accounts could go into other activities, for example, token buybacks or straight to the Hive Development Fund.
Whatever they end up getting used for, what it does is effectively scales the amount of users capable of being on the platform.
For example, there is 387,874,709 HIVE in circulation and if every user needs 100 HP worth to transact on average, that is ~3,878,000 accounts possible. However, in order to spread HP out that way, all of those accounts would have equal amounts of draw on the rewards pool. That means that my account that has about 200K HP, could empower 2000 accounts to transact at 100 HP worth, but in order to do so, I would have to give up my own voting power. However, with RC delegation it would be possible for me to do that and still keep my voting power.
If there was a "delegation on sign-in" system, it is likely that not all 2000 would be signed in simultaneously, which means if 33% are, it could be used to empower 6000 accounts instead. With RC delegations, this can be done on the fly and possible scale depending on usage, so most will need far less than the 100 at any given point in time.
This means that instead of the ~4M possible transacting accounts in a highly improbable scenario where everyone has equal HP - it would be possible for tens of millions of accounts to get RC delegated to them to transact when they need them, never having to worry about buying HIVE - unless they want to earn.
Remember though, that in order for these accounts to earn from the rewards pool, staked users have to vote them and that is going to get harder to accomplish, with so many users transacting. However, for the accounts who are staked, their curation returns are what they are, they don't have to compete for attention to earn.
There are lots and lots of different ways Resource Credits can and will be used in the future, but I am sure that in time, they are going to get used for both better and worse. However, having the delegation system opens up a lot more potential to scale, without a lot of risk exposure to the economic system. It could get interesting.
Taraz
[ Gen1: Hive ]
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It'll be all fine and dandy at first. But I'd suggest RC delegation be more like a test drive. If a product on Hive, like a game or social frontend, gives 1000 new members a free ride, that's okay, because they currently have enough HP. The next 1000 customers expect to be treated the same as the previous 1000. Now you're up to 100k, treating everyone fairly, and realizing you can no longer afford this. Now to make a change for the next 100k customers, you must first inconvenience the previous 100k as they throw a fit and suggest the next 100k run away because insert evil conspiracy here. So it's wise to make those first 1000 realize the free ride isn't permanent to avoid the inevitable.
I rarely delegated HP. Felt like I was getting burned every time I did though. One case a dude accepted my delegation, accepted my promotion in the form of a reblog which led to attention and higher rewards, accepted those rewards, started moving the money out of the wallet and even delegated away some earned HP to a service offering a return, rather than attempting to remove the training wheels I offered.
And yes, the delegations of RC would very much be like a test drive, which is a good way to explain the Splinterlands thing. I just don't explain well :D
But, with dynamic RC delegation, it could support a massive amount of user needs without them having to have HIVE. This would eventually be the move away from Hive rewards onto second-layer tokens, where only those really interested in Hive the baselayer hold and use.
The abuse happens fast for some people, as does the entitlement. I have given away a few delegations only to have them abused and therefore, I pretty much stopped delegating to new users.
We'll see how it goes I guess. I'd prefer to see everyone who needs RC able to provide their own RC at some point sooner rather than later; decentralized as much as possible. I have far too many scenarios running through my head right now thinking about this RC stuff; need to see it in practice before I can pick it apart constructively.
This is interesting:
https://peakd.com/hive-139531/@deathwing/announcing-rc-angel-or-rc-pools-but-better
I wonder what is possible to limit through RC delegation also. Can delegated RCs be used for some operations but not others?
I saw that on day one.
Perhaps on the frontend some functions can be muted combined with the abuse mitigation that comes standard with that service. Not sure how that would gel though when scaled up. Suppose an unauthorized operation could send a command to the service and shut it down for that account, but I dunno.
I was tossing this idea around with someone in the comments a few days ago it was a fun thought experiment. I’m looking forward to a system where it can see accounts with little or no HP and delegate them some credits.
There does need to be some limits though, such as it being an account <60 days old in my opinion. I don’t think someone, outside the SL or 3S examples, be allowed to take advantage of that automation because it means they are selling all their resources instead of saving them to do what they need. Give and take!
I need to switch my delegations on my accounts to just be RC delegations and then flip those HP to be put to better use on my account or something! Got a few Alts that will need some adjusting.
a couple minutes ago I cam across @deathwing's post on RCs, a great start:
https://peakd.com/hive-139531/@deathwing/announcing-rc-angel-or-rc-pools-but-better
It can also potentially be limited to certain transactions I suspect. For example, comments and posting, but not submitting teams. Not sure how fine it can get though.
I think it's definitely a step in the right direction for onboarding new people rather than HP, unless you absolutely know that you can trust them. It should be stated up front that it's a delegation that has an expiry date of your choosing or the scenario that nonameslefttouse will come in for sure. Either way, I think it's still a safer bet in terms of protecting a reputation having delegated RC rather than HP as it doesn't have the waiting period of 5 days to undelegate.
Will be interesting to see how it will play out. I don't know how anyone will be able to abuse this, there's not a huge amount they can do with RC really.
Glad you were able to use it on Splinterlands :)
With RC delegation, it wouldn't even need to be announced, as it can be dynamically applied. The accounts that get them wouldn't get too much, so they would still be limited, but get a taste of how things work without upfront investment.
I am interested in seeing whether or not a RC market gets built on Hive because a lot of people will need it when Hive takes off. It makes me wonder if people using it to create spam would actually happen because it would just increase the RC cost for everyone. So in the end, there is only so much they can do.
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Did you see this post from @deathwing? I missed it but found it 15 minutes ago :D
https://peakd.com/hive-139531/@deathwing/announcing-rc-angel-or-rc-pools-but-better
No, I haven't. I'll give it a look tomorrow as it's quite late tonight. I want to go through my feed and then I'll read it when I am on my breaks tomorrow.
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I believe that is really a good step in ensuring such account grow with the idea if delegated but requires such account to keep the engagement and consistency alive to achieve more.
Would love to see a million new accounts here - would be even better if 10% of them bought 100 HIVE :)
I know others who have delegated in their hive journey. I should as well. It shows a dedication and team spirit.
RCs are different, as there is no cost to delegate them. If I delegate HP, it costs me vote potential and power - RCs don't.
I have two questions;
Does delegation to any users make us receive HIVE on the blockchain?
I created a baby account months ago, and joined a curation trail with it. However, it does not upvote, is it because low HP?
It could be because the vote is too low on it - how much does it have? What is the account and I can have a look at what is going on.
https://ecency.com/@hephaestos
well RC does limit user activity but it also makes sense since it's like you need to stake hive to do more activity on the hive
Exactly, but not many are willing to stake Hive before they become active.
500 Hive is a good delegation, a person will have a full upvote of 1 cent - this is very motivating.
But, unsustainable. They need to buy/earn it themselves.
Yes, it is enough to delegate for several months.
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You are rich and that should be a great feeling! Once I tried 3speak but I'm not good at vlogging. You’ve shared one more masterpiece photograph in this blog. I'm growing slowly here in this platform (hive). Learning everyday from pro authors of hive like you! Have a great weekend sir!
Rich with RCs - not in the real world :)
The way to get good at something is to practice. If you like vlogging, keep doing it.
Rich with hive power too which I mean actually, having a rich heart basically make a person rich that I believe. I think I'm comfortable with blogging more than vlogging. Have a nice weekend!
I have a few alts that I don't use to vote, but that needed HP in order for me to earn from playing games.
RC delegations mean I can now pull back all my delegated HP, allowing it to be actually used for voting on my main ($$)
Happy days.
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