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1264 sats \ 44 comments \ @grayruby 5 Jan econ

Just call me the Paul Krugman of SN.

Cowboy Credits are fine but let’s face it they suck compared to getting zapped those sweet sats. If you don’t like cowboy credits you should probably attach a wallet.

If you don’t like cowboy credits and you have an attached wallet spend those suckers as soon as they hit your account. It’s good for the SN economy (plus 30% of cowboy credits spent get cleaned back to sats via rewards for those of us with attached wallets)

Where is my Nobel prize?

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375 sats \ 24 replies \ @Undisciplined 5 Jan

The half-life of Cowboy Credits is less than two transactions. People are losing their minds over things that turn back into sats almost immediately.

127 sats \ 0 replies \ @gmd 5 Jan

seriously. in real world value people are complaining about $20 bucks max in real life value. get a job or something if you're in a first world country trying to make a living off of SN. I'm here to net spend sats on the community not collect.

67 sats \ 20 replies \ @grayruby OP 5 Jan

Only for people with attached wallets.

454 sats \ 19 replies \ @Undisciplined 5 Jan

No, only 70% of cowboy credits survive each transaction, so after two transactions only 49% survive. The half-life is how long it takes half to decay.

78 sats \ 9 replies \ @Satosora 5 Jan

I feel it could have been explained a bit better in the beginning. Because at the end of the day, they eventually get turned into sats. There were big blowups about it over nothing.

53 sats \ 8 replies \ @Undisciplined 5 Jan

I thought k00b did a good job communicating how they work and what they are. There's only so much you can do for people who aren't listening or willfully misunderstanding.

81 sats \ 4 replies \ @ek 5 Jan

I am working on updating the FAQ. Then everybody can simply point to the section in the FAQ that states once and for all that everybody receives rewards in sats, IT DOES NOT MATTER IF YOU HAVE AN ATTACHED WALLET.

Sorry for all caps. I'll use bold font in the FAQ.

124 sats \ 2 replies \ @grayruby OP 5 Jan

You guys have worked hard and are awesome.

That being said. Generally it is good to have the documentation ready prior or along with a major change.

My only criticism. I don't want to be shouting from the bleachers.

62 sats \ 1 reply \ @ek 5 Jan

Generally it is good to have the documentation ready prior or along with a major change.

yeah, we underestimated how confusing it would be

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40 sats \ 0 replies \ @Satosora 5 Jan

Pretty soon everything will be ironed out. Its only been a few days, the people that actually use SN know what is happening. Thats what is important. All the people that come in to this wont know the before.

42 sats \ 2 replies \ @Satosora 5 Jan

It could have been that I wasnt reading it carefully enough. I do remember he said the rewards would come back as sats. At the end of the day, do you care which one you get?

20 sats \ 1 reply \ @Undisciplined 5 Jan

The rewards do come back as sats, don't they?

71 sats \ 0 replies \ @Satosora 5 Jan

Yes, from what I have noticed. And you have the option of buying ccs, so it makes it effortless. For the most part. There really shouldnt be any complaints, it was well thought out.

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30 sats \ 8 replies \ @grayruby OP 5 Jan

The 30% that goes to rewards only become sats for people with attached wallets. I would imagine that is most of the reward getters but I don't know what the actual number is. Maybe 1/3 of the 30% stays as CC's and gets distributed.

150 sats \ 7 replies \ @Undisciplined 5 Jan

All rewards are supposed to be sats, even for people without attached wallets. Is that not what's happening?

22 sats \ 6 replies \ @grayruby OP 5 Jan

But they can't receive sats in custodial wallets so they would convert back to cc's for them as far as I know. Unless they are prompted with an invoice to collect their rewards, which would be really cool, but I don't think so.

150 sats \ 5 replies \ @Undisciplined 5 Jan

They can receive rewards sats in their SN wallets and then withdraw them whenever they want. At least that's how k00b described it.

46 sats \ 3 replies \ @ek 5 Jan

You are right. That's why there is a sat balance in credits.

We can hold sats for you, we just cannot allow you to send that to other stackers which is why CCs exist.

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29 sats \ 0 replies \ @grayruby OP 5 Jan

Are you sure? I thought that was referring to the existing rewards they had in their SN wallet prior to non custodial conversion.

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73 sats \ 1 reply \ @Aardvark 5 Jan

The only thing cowboy credits have done for me is incentivizing zapping more often. I consider it to be a positive if anything.

52 sats \ 0 replies \ @gmd 5 Jan

haha yup hot potato to give them to others

220 sats \ 2 replies \ @Shugard 5 Jan

You are Paul Krugman of SN!

21 sats \ 1 reply \ @grayruby OP 5 Jan

Amazing. Well done. Big zap, real sats for you.

40 sats \ 0 replies \ @Shugard 5 Jan

Thank you!

68 sats \ 1 reply \ @SimpleStacker 5 Jan

For your contributions to the economics of virtual currencies, I hereby award you the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

30 sats \ 0 replies \ @grayruby OP 5 Jan

Thank you. I accept this with pride and gratitude.

74 sats \ 0 replies \ @carlosfandango 5 Jan

@grayruby is the Paul Krugman of SN… there I said it

These CCs seem to get people very emotional. And quite unnecessarily so.

50 sats \ 1 reply \ @siggy47 5 Jan

If you receive the honor, please be like Bob Dylan and don't show up to accept it.

41 sats \ 0 replies \ @grayruby OP 5 Jan

Too late. Someone already gave me a nobel prize jpeg and I accepted it.

Now on to my next mission. SN by fax machine.

40 sats \ 0 replies \ @supratic 13h

Guides to connect your wallet on Stacker News

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40 sats \ 0 replies \ @sasasuina 6 Jan

I agree, except for the Nobel Prize. 🤣

The simplest way to calm the complaints is to make cowboy credit circulate like sats. For instance, allow withdrawing cowboy credit and paying in sats.

However, doing so would make cowboy credit equivalent to custodial bitcoin, which means SN would essentially become another form of custodial wallet. This would contradict the goal of moving towards noncustodial solutions.

So we need to accept cowboy credit.

40 sats \ 0 replies \ @User21000000 5 Jan

Cc is fine sats are better bigger things to worry about than cc on sn 🤠

40 sats \ 1 reply \ @Cje95 5 Jan

Lmaoooo! I cant get ya a Nobel but I could call up good 'ol Joey B and see if he has a Presidential Medal of Freedom lying around you can have since they are being given out like hotcakes!

0 sats \ 0 replies \ @grayruby OP 5 Jan

I see that.

40 sats \ 0 replies \ @Satosora 5 Jan

I think at the end of the day, and with a longer perspective, the people that will earn sats will keep earning sats.

40 sats \ 0 replies \ @NovaRift 5 Jan

This is a good post; no one is understanding. CC does the same thing as Sats here 😂.

0 sats \ 0 replies \ @Aardvark 5 Jan

I'm spending them as quickly as I get them so far. If anything has changed, I zap a bit more generously now.

0 sats \ 0 replies \ @mod 6 Jan freebie

🚩 This post might be more relevant and engaging in the ~meta territory.

81 sats \ 0 replies \ @Coinsreporter 5 Jan

I appreciate your contributions to the economy of SN but you've a tough competition for nobel from @siggy47 @ek and me. We all are also CC maxis. So, let's wait who wins.

61 sats \ 0 replies \ @Coinsreporter 5 Jan