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Tezos baking by the community has started
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Date: July 22nd, 2018 9:51 PM Author: Anal cuckoldry
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
(http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36477862) |
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Date: July 23rd, 2018 7:15 PM Author: cordovan razzle native
"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)
(http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36483664) |
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Date: July 25th, 2018 12:45 PM Author: Provocative mahogany partner
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.
(http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36493758) |
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Date: July 25th, 2018 2:11 PM Author: floppy wild international law enforcement agency
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.
(http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36494272) |
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Date: July 25th, 2018 5:15 PM Author: Provocative mahogany partner
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.
(http://www.autoadmit.com/thread.php?thread_id=4032568&forum_id=7#36495583) |
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