Do You Have 5 Trillion Resource Credits? Now You Can Claim Free STEEM Accounts With It

in #steem5 years ago

l after Hard Fork 50 despite all the frustrated bitching FUD and valid complains. Now even a 15 SP account is capable of 18 comments/100+ votes and RC costs will eventually go lower than the current levels. One new feature of the HF 20 was discounted account creation. Now you can create STEEM accounts by simply burning Resource Credits.

What's So Great?

There have been many posts written about this. I'd just add a very brief and reductive explanation:

  • If you have more than few hundred SP, you are not going to have your RC almost full almost all the time.
  • It takes few days to 2 weeks to get a free account from Steemit Inc.
  • Buying accounts through services cost some money.
  • The process itself is semi-centralized (Steemit, Blocktrades, AnonSTEEM, Steemconnect and few individuals with extra technological literacy.
  • Most witnesses have set the account creation fee at 3 STEEM.

A Tool From @reazuliqbal

You can read about it at https://steemit.com/utopian-io/@reazuliqbal/steem-hf20-discounted-account-claim-and-creation-tool There is still no Steemconnect endpoint for it. But the code itself is open sourced at GitHub. Since my RC is back to being at 99%+ I really wanted to try thistool and this is what it did to my account:

RC costs for everything is constantly changing due to market dynamics such as network usage. Currently it costs about 5,203,320,253,000 Resource Credits and I instantly got an account claimed.

Based on some rough calculations I can say that you need about 2600 effective SP for the job and you'll be able to claim an account about every 5 days. When an account is claimed, it is forever yours and you can create a username and give it anybody you like. You can claim using delegated SP as it is the effective SP that counts. The whole thing is worth 3 STEEM at the moment. That's over 8% APR + Whatever that gains/losses to the price of STEEM. This is true wealth distribution and decentralization.

Some might complain that not all accounts can claim accounts. But this is a good thing. Else we'll be facing a nothing at stake problem where those with no incentive to protect the blockchain start making decisions. The mess happened with BTC is a great example.

Personally I'm happy to be able to use my RC for something instead of letting it sit there. @ned has constantly teased some form of bandwidth delegation which should now come across as a RC delegation which allow you to keep your SP and have large votes while allowing other accounts to ride on your idle resources. You'd probably have to wait till SMTs or later for this. But at least all accounts will be able to participate in this.

Extra

6 Days ago @fullcoverbetting did an experiment on how much RC each action cost and these were the results:


You can read the fullpost here.

Happy Steeming!

Sort:  

So did you install this code on your computer to do this? I am going to look into getting this set up so that I can claim accounts :)

(Edit: this is @ecoinstant - accidentally cross posting with wife's account)

Just go to https://steemconnect.com/sign/claim_account?fee=0.000 STEEM&extensions=[] or to the tools section of https://steemworld.org and you can start claiming accounts. No need for any other software anymore.

hmmm looks like it has gotten a bit more expensive! Seems like I need about 5200 SP at the current price.

Since my post was written the costs of the operation on the blockchain has decreased a lot.
That was also one of the counter measures of steem.inc. It was not the idea of the RC to make posting and commenting of the new accounts on the blockchain impossible, which it almost was when I did do my test!

A new account now should have around 20 posts or comments a day.

Cheers,
Peter

Thanks for stopping by.
The cost are about 12 times lower now. That's a lot of progress.

My RC maxes out at about 1.7 trillion. Hopefully I can do that soon.

You got voted by @votefun thanks to Makishima Shougo. To support development, check out Rishi556. Hosted on the @cryptowithincin discord.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Makishima Shougo from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

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