How do RC actually work?!?
I am highly confused.
The steem-bounty account has no RC. So I decided to power up some SP. To my dismay this had no effect at all.
Seriously?!? I just powered up $1000 and I cant even transact?
That goes against every basic concept of how Vest are supposed to work. You are to be able to buy more rights to use the network buy powering up.
How are new accounts supposed to do anything if they can‘t even be created and powered.
Are we supposed to create an account and then wait 5 days before we can do anything or if we run out of resources have to wait a week every time before we can use this account again?
Can someone explain how this new system works and why it makes any sense at all?
Your @steem-bounty acc. had not been resetted from negative RC. Nearly everyone had negative RC to begin with, but the fix they provided resetted every account one by one, probably in the order of creation.
When it was resetted, you had 10% RC on default, so you could instantly transact and publish the post that steem bounty was affected, too.
It has nothing to do with how much SP you have powered up
There have been a few issues checked in to GitHub. I don’t think the new system is working 100% correctly yet. We will probably see a 20.4 with some updated fixes soon.
It's rather confusing to me too. I've tried to read up about it and from what I can tell it says that yes now we're all in the same boat of having accounts sapped of resources and then once we're all back to "normal" in 5 days we can start interacting with the blockchain and we will then help it establish an equilibrium based on the market/use/demand for resources! So your account will, in theory, regulate itself as to how much RC you get to interact. Naturally larger accounts will have more RC to do more . We will have to wait and see how it works in practice though. For now I guess we can always use Weku for the standard steemit fix
It's working a lot better now. I think a lot of the witnesses have admitted that there was a lack of testing and it shouldn't have gone down like this. The main point for now is that they are trying to get the balance right where the smaller accounts have enough RC to be active without giving them enough to spam. The balance was off at the start but then they have increased the allocations so that everybody can get back to normal. From some of the witnesses that i follow they have admitted that it was a bad hardfork and should have been tested better to avoid this rough period. It will take a while for the results of this to come out over the next couple of weeks but the theory behind it is sound.
I don't know how it's all going to play out over time but i'm willing to give it a chance and see how things play out. I've read a good few posts on the possibilities that the hardfork has opened up and to be honest there is a lot of potential in it.
I'm not a dev. But the new RC system seems to work a lot like Voting Power. The short answer would be that powering up affect the RC regeneration rate. More SP you have, more RC you get each day.
This is actually one advantage the old bandwidth model had. You could just power up and use more of the network. But Resource Credits are kind of like another token that is non-transferable. So RC is no longer a claim on a portion of the network.
The amount of RC required for a certain operation is decided by the network and we are still waiting for the equilibration. RC is basically just a token you pay (burn) which has a max limit and regeneration rate based on your SP.
RC has more in common with rshares than Bandwidth.
Hope this helped.
Update: The new 0.20.4 fixed some issues:
#2961 Powering up / delegating SP does not increase RC
Bug: users powering up, were not able to vote/transact instantly
Now, receiving SP gives an instant voting mana boost
I just watched the steemd profil of a new account.
A new Account can post 2 comments ... well maybe only 1 long comment.
If that is the case I m done with steem. I don't think any new user will stay here if he can only create 2 comments and then has to wait for reload.
The system is not stable at that time. They are rebalancing the network. It is now back to normal because they increase the 10 x resource credits.
It is quite hard to explain but If you have more SP you will get more RCs. They try to stop comments and posts spammers. So they remove account createion wiht SP delegation. So no more free account can be made. No SP means no activity you can make in Steemit. In this way every users from now on has to use their money to make engagement. That may pull up Steem price. So I think this is a good change.
Currently with my SP comments I made cost only a few RCs. This is below 1% and refilled very quickly. This is good for me but they will change it later I think. They are try to stopping spammers so they will make a limitation for sure.
This is fair I think because previously no limition on comments. So spammers make comments on a lot of post. Now they can not post as they wish they have to wait or buy SP.
The more recent your last vote before the hardfork was, the more your voting power was impacted. This behavior is a one time issue that will resolve itself over the next 5 days. Some accounts even got a negative amount of RC, but this has been solved by a patch.
About why a power up did not have an inmmediate effect in RC I have two theories:
The RC system is in stabilizing process.
Powering up only increases the maximum RC and the regeneration rate, but does not instantly increase the RC amount.
Your experiment has created an enormous bounty for this post.
Yea this is fixed now, but we had to shut down the service until we have rc again
More vest will give faster regen and higher max but it wont have immediate effect
Good question, many are confused but I am confident we all are happy on Monday when 5 days are over, VP full again and we have enough RC as well.