reply on: SN resolves to go noncustodial on Jan. 3rd

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20 sats \ 8 replies \ @ek 5h \ parent \ on: SN resolves to go noncustodial on Jan. 3rd - FAQ & AMA

So this means when someone zaps my post or comment, some of it may be CCs and some of it may be sats?

Yes

When I zap others and I have a non-zero CC balance, will SN spend my CCs before it takes zaps from my funding wallet?

I believe the default is to zap real sats. We had a lot of internal discussion about which order should be the default but it will be easy to provide a setting so you can tell us what your preference is.

And is there a way to remove CCs from the system or will their number only grow, meaning that an ever-increasing percentage of zaps I receive will be CCs?

Every zap has a 30% sybil fee on it (doesn’t matter if CCs or sats) so the half life of a CC is almost exactly two zaps: 100*0.7*0.7=49

This means after two zaps, 51% of a CC went into rewards and territory revenue and rewards and revenue are always paid out in sats.

So this also means if everybody starts sending and receiving real sats, CCs will quickly cease to exist. At least that’s my hypothesis.

33 sats \ 4 replies \ @SpaceHodler 4h

Thanks!

So this also means if everybody starts sending and receiving real sats, CCs will quickly cease to exist.

I think this could be shortened to: So this also means if everybody starts ~~sending and~~ receiving real sats, CCs will quickly cease to exist. because for a CC to be sent it needs to be received first (in fact, >1.42 CCs need to be received).

And users are incentivized to receive sats, so CCs should die out indeed.

BTW it would be simpler not to introduce CCs at all and if someone doesn't have a receiving wallet attached, they'd receive nothing and the sats would go to SN as a 100% fee.

206 sats \ 3 replies \ @ek 3h

So this also means if everybody starts sending and receiving real sats, CCs will quickly cease to exist.

As a receiver, you can't control what you will receive. If the sender only has CCs, you will receive CCs. But yes, to have CCs, you need to have received them in some way first 🤔 Nice observation!

edit: mhhh, anybody can buy CCs though. So you can have CCs even without someone else sending you some.

BTW it would be simpler not to introduce CCs at all and if someone doesn't have a receiving wallet attached, they'd receive nothing

Simpler for who? Certainly not for new users who just want to try out SN.

0 sats \ 0 replies \ @SpaceHodler 2h

As a receiver, you can't control what you will receive. If the sender only has CCs, you will receive CCs.

Sorry for the lack of clarity. I meant: So this also means if everybody ~~starts receiving real sats~~ attaches an external wallet (so they receive real sats when they're zapped real sats)

0 sats \ 1 reply \ @SpaceHodler 2h

edit: mhhh, anybody can buy CCs though. So you can have CCs even without someone else sending you some.

Buy from SN or on a secondary market? There is no incentive to buy from SN at 1:1, and when you buy a CC on a secondary market at a discount it doesn't bring a new CC into existence, the CC still must have been created by someone receiving a zap and not having a receiving wallet attached.

0 sats \ 0 replies \ @ek 2h

you can buy from us at 1:1 or ask someone to send you CCs with a 30% fee

0 sats \ 2 replies \ @astro_penguin 3h

I'm assuming it'll also be possible to select what to use at the time of zapping if you go into the custom amount menu?

0 sats \ 1 reply \ @ek 3h

Do you want to choose it per zap or do you just want to express your general preference via settings?

0 sats \ 0 replies \ @astro_penguin 2h

The general preference would work, but I had been thinking about scenarios where it would be helpful to have the option to pick in this menu as well.

It might not be something people would use, it was just something I thought of.