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65 sats \ 12 replies \ @SpaceHodler 19 Dec \ 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?
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?
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?
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.
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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.
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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.
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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)
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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.
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?
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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.
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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?
It will prioritize real sats when zapping and the receiver has a wallet attached. When posting, commenting, boosting, donating, paying for territories, or zapping someone without a receiving wallet, we prioritize CCs.
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So as long as you have a wallet attached, you will still earn the sats.
If you do not have a wallet attached, you will earn CC.
Correct?
I have my strike wallet attached and has been working great. As long as I keep this in tact, nothing will change, correct?
Thank you.