Trickle (Drip-Drop) Feeless Hourly Payments Application on STEEM
Hi everyone!
I made a bot :) https://steemit-payments-app.herokuapp.com/
I've often wondered 'if there are feeless blockchains, why hasn't anyone implemented a payment solution where funds are vested in order to create revenue, sent by the employer at the start of a regular interval like their regular payment schedule (bi-weekly, monthly) and trusted by automation to send a little tiny amount every minute/hour to the payee, be it employee, contractor or freelancer?'
This has huge potential as there's currently a lapse of trust when starting work for a new Blockchain-powered org. If I had a dime for each time a colleague of mine said 'well how do you know if it's a scam or not' when I started working on monthly basis for a new organization online, I'd have quite a few dimes! In fact, this lack of trust among parties can lead to people being averse to working online - and so this solution provides 1. a way to trust a new organization with payments, as they're literally coming in every hour 2. a new way to enjoy liquidity with your funds, as you'll always have crypto 'trickling in!'
Turns out, it's really simple to do with STEEM!
If you send @minutely-pays (it's a misnomer, the account was created before I made the executive decision to go with hourly pays) a STEEM payment with a memo that follows this format:
168 hodlorbust
It will send an hourly payment until the total # hours in the first value is met for 1/168 (in our example) the total STEEM sent to the account specified (hodlorbust in our case) from the balance you send it.
For hourly totals less than 2352 (14 weeks) there is a flat 2% fee, taken off the total of STEEM sent to @minutely-pays.
For hourly totals greater than 14 weeks, the total will be divided by 15 then multiplied by 13 and that amount will be used to POWER UP the @minutely-pays account, and immediately POWER DOWN that amount, so that over the next 13-14 weeks the STEEM POWER is converted back to STEEM. While it's still active as STEEM POWER the @minutely-pays account will have curation rewards, and so there are no fees and your total STEEM you send the account will be paid out over >= 14 weeks.
Don't yet have a STEEM account to send from or a payee account to send to? Google 'Buy STEEM account' or check out AnonSteem
What about RC? Unless that person has a nearly unlimited supply of RC, sending hourly payments to employees of large scale corporations will be impossible. Especially when many people are trying to use the chain and fees rise.
Thanks for writing in @rishi556
When I'd thought about the way RC is described here:
https://github.com/steemit/steem/wiki/RC-Bandwidth-System
'An account's maximum RC is proportional to its VESTS,' should I have any users that go for the feeless options and amount / 15 * 13 gets vested into SP, my RC should rise substantially. Morever, if the 2% fees from each transaction that pay fees could be powered up (which is the plan at present) there should be more RC there...
Is there a way to find out through calculation whether that should be enough to cover the RC costs?
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