Every hard fork is interesting. This one was no difference. But we made it.
We are now on the Resource Credit system (RC's).
Every action (vote, comment, edit, transfer, post) on the blockchain will take some RC's and the amount of RC's you have is dictated by your STEEMPOWER.
The system is settling right now because it's a decentralised free market system. It's expected that the price of every action will be more clear within a week.
Another issue that arose is the voting mana (previously voting power) was reset to 0% for most users. This will recover in 3-4 days from now to100% if you didn't vote. (voting mana recovers at 20% per day without voting).
Check your voting power and RC credits here: https://steemd.com/@username (where @username change to your own).
After a week we can say more about the current system.
My hope is current issues are the only temporary issues and soon everything is back to normal.
I'm especially interested how much RC's basic actions (voting, comments) will cost.
This upgrade was much needed to prepare for the next upgrades: Communities and SMT's.
Even though it wasn't a 100% smooth UX I want to thank Steemit for keep pushing this blockchain to new heights and following their vision outlined in their roadmap.
I talk about it more in my vlog.
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The system is running smooth.
Issue is with mana and RC not at 100% from the start.
Other than that. Everything is fine and running great.
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Me too. In my opinion, the costs in terms of RCs must come down a lot if we want to keep Steem open for everyone. At current conditions new users have to spend at least $50 on SP if they want to post just a few comments per day. People are used to join a social/blogging network for free.
The exchanges are also running low on RCs. They have to buy SP themself or Steemit Inc. has to delegate SP to them. @binance-hot has 1,027 SP so they can only do about 150 transfers per day.
But that's under current conditions. Let's see once it has found an equilibrium.
nice
Does it say anywhere how much RC it costs to post or is that the same as commenting?
I checked an account with minimal SP (15 delegated SP). That account can only make 1 comment or 8 upvotes.
I am guessing this will change once things have settled down. I will check in a week's time.
So if you write a post and get 20 comments, you will need to pick the best 16 to respond to (assuming your resource credits are maxed). For 117 SP that is not great. Let's hope it improves in the next few days.
I'm wondering... I would like to see after this HARD FORK!
Looking to the next update you all have.
Yeah, pref they would come down. I agree. We will know more in 4 days once everything settles. Thanks for pointing out the exchanges and RC's.
Well, for 640 SP I can tell you what claiming rewards costs; 59% of my VP. A friend with about 50 SP reported losing 65% of his VP with a single vote. (both started at 100%)
After my 59% VP loss I can't even power up the 50 Steem I have sitting there. So here is an issue; how do we let the system calibrate itself when folks are prevented from actively using it? The calibration data won't be generated, or at least not be accurate until everybody is back to their normal use.
Edit: I didn't vote because I can't! Sorry.
I used one of my precious upvotes on your comment. Excellent point. How does it calibrate if only “rich” steemians can use it?
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I like what you said about the platform not being perfect because we are early adopters.
I think it’s easy to forget - especially for those of us who’ve been here for several months/years, that we are still early adopters and this platform is still brand new. On top of all that, it’s operating on a new technology and a new premise comparative to traditional media.
Expecting everything to be smooth sailing is just wishful thinking. The change from bandwidth to resource credits is a fundamental change to every action we make on the blockchain and it opens the gates to a better user signup and experience in the future. I’m glad that the only cost to putting that system in place is a 5 day delay as we wait for our voting power to reset.
With all that said, I still think that there was room for better testing on the Steemit, inc side of things. I’ve read many comments about the HF as well and have seen a lot of people complain that the team doesn’t do a good job of testing before implementing. What’s your opinion on that @exyle?
The voting power + the minus mana bug made the HF 20 UX not as great as it could have been. That much is clear. Still if after 5 days from now we are up and running like we were but with a RC system in place I think for the complexity of the upgrade that is not bad.
You have recieved a free upvote from minnowpond, Send 0.1 -> 10 SBD with your post url as the memo to recieve an upvote from up to 100 accounts!
We have just now cool steemit holidays... and I think it is good :)
I hope there lot sun :)
great video man. and very reassuring.
i agree that while it wasn’t the smoothest of transitions if all we lost was some voting power.....errrrr mana (excuse me lol) it was worth it.
especially with the new about smt ‘s. we have to have a long term vision for this stuff.
it sucks to not be able to upvote content as much as i would like right now but it’s part of the growth of this place.
forward we go :)
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Thanks! In a few more days voting will be back to normal.
One thing that isnt working for me atleast is this editing thing, is that still coming or is that another bug.
Thanks for putting this in context @exyle. I'm going away for a few days tomorrow so think I'll take the opportunity to let my RC recharge. Then again there will probably be lots of fun things to post. We shall see. Have a great weekend!
You can always post!
Yeah we sure are going to be here (those who have faith in the Team). This is just a bump that we can accept and lets just enjoy as it is and have patience.
Look at you with 100% rc! Everyone else I have seen post this newly-created-thing-we-need-to-pay-attention-to is in the 2-30 range.
I made 6 comments earlier and it dropped my rc from 39 to 24. "Wasting" rc to comment here. Apparently, if you do anything in your wallet your rc drops as well.
Big sigh....
That is quite expensive. Hopefully this will be sorted in a week. If not it should certainly be raised.
With luck prices will come down with time.
I like to upvote those I feel are creating good content to try encourage our community to continue to grow. I got my VM (voting mana) back up to full today and did 1 vote at 100% vote weight and my VM dropped from 100% to about 35%. I would normally upvote about 5 people a day at 100% voting weight and my voting power only dropped slightly. Do you feel VM is not balanced correctly or was voting power previously broken and an issue that HF20 was supposed to correct?
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Your VM was never 100% (even though it was displayed like that). After you casted your first vote it displayed the 'real' value. Which for most ppl is around 40% by now. Personally I need 3 more days to reach a 100% VM.
Thanks for getting back to me. That makes sense.
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Mark @exyle I am sure I will be back to voting more in a week or so. In the Meantime I will just have to think about SteemMonsters................
I'd like to thank you for your post before the hardfork. After I read that I was aware of what the issue might be and I was able to calmly handle the aftermath when many other people were freaking out. You explained everything in a clear concise way. I appreciate what you do for the blockchain.
Thank you for saying that!
Don’t forget we are finally getting SBD payouts as well so we have some good opportunities to convert into Steem Power at great rates! I have started to use 50/50 again due to this.
Thank you for some great information... many folks don't understand the complexity of this type of change! Change always brings resistance. But, change brings growth!
Let me get this straight, what was once VP that recharged 100% every 24 hours is now mana which takes 5 days to recharge?
If so, do we get the same equivalency of votes, just calculated over a longer timeframe or do we now get a fifth the effective voting power?
Also, currently at 15sp a person can only comment a couple times a week. What is an expected rate once things normalize? What is intended? How do we know when this has finished calibration?
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VP recharges 20% over 24h. Voting Mana (VM) is the same. The problem is that after the hard fork the VM went to 0% so it takes 5 days to recharge to 100%.
Ah. I guess I just never let my VP go below about 80% before, so to me it was as if I only had to think about 24 hours.
Thanks for the clarification.
On the other point though, the calibration of RC costs for commenting, is that still working itself out? And if so, how can they factor the costs accurately when so few people are able to comment right now? And when can we expect to be experiencing stable costs for RCs, or is this something that will always be adjusting based on something?
you look like my main man who lives in Aspen and was a writer before SHTF .... YTer ...
we did make it! still trying to wrap my head around this mana thing, will take some time i suppose.
That's really interesting update because RCs can prevent spamming accounts on the Steem blockchain that overloaded the system.
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