1 steem = 2 epc daily
Price: 0.00015 STEEM / $0.00005
X 730
= .1095
APR of 11% is based on the sell which is 50% higher than the buy.
I'm not even going with the demand price and could immediately buy 1.5 Million EPC at that price.
The APR for delegating Steem in exchange for EPC is very underwhelming given the demand for EPC. You should consider adjusting it based on price. Right now 1 steem for 4 daily would be somewhat tempting.
I've suggested this option to the team and I'm glad we're seeing the same way for the delegation. I'm hoping the team will re-consider this suggestion.
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It's possible that they do not need too much SP at the moment. After all, their business model is not based on SP, but gambling, which requires some SP that can provide enough RCs.
That is my thought too. If people go for it at this rate, why not?
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I second this... There should be adjustments.
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Market price is way to easy to manipulate at this thin volume and order book. Even if it is not, adjusting a fixed reward rate according to a fluctuating market measurement is never a good idea. There are several ways to earn EPC like betting, trading, delegation and taking part in giveaways. We glad that you have found the better acquiring way for yourself. Delegation would still serves its purpose for non-risk-takers.
Thanks for the support.
I agree market price is easy to manipulate, also changing the amount constantly would be annoying so pick a term of sayba week or a month and that the median or average price for the next month. As i mentioned, 20% wouldn't be unfair.
I agree EPC from daily prize or gambling os a reward. Hpwever EPC from delegating is not a reward, it is rent (unless maybe you look at delegating to a gambling fund as charity, lol). Therefore, rent should should be rewarded at a consistant rate.
Someone else mentioned that you guys probably don't really need delegations and I imagine this could be a reason. Either that or there are enough suckers around here who have a very ignorant form of speculating since as I mentioned one can delegate at 20% and then buy nearly double the amount of EPC tokens with their additional income. This means you are taking advantage of the financially illiterate which kinda seems like something a casino would do.
So your idea that non risk takers are better off delegating is silly because they are much better off buying until the price doubles.
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It's not their job to babysit the financially illiterate. If people don't like the reward, they can remove their delegation.
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I am having a hard time understanding your motive to say such a thing. Being an EPIC dice apologist is such an interesting persona.
Were you taken advantage of in a similar way before?
Why you think it is a reward and not income? Do you also think your paycheck or rent is a reward?
It sounds like you are as financially illiterate as the people their delegation program takes advantage of.
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@abitcoinskeptic
Gambling on epicdice itself is very stupid, you have a negative expected payout ratio because of the house edge. And i once spend like a week trying to beat the casino with all the strategies but none work because there is no skill involved with this type of gambling.The only thing you can do is prolong your gambling experience with a martingale strategy but in the end you end up losing so it only makes sense if you could collect some type of tokens for playing. That's basically the only workaround you have. (In theory a martingale strategy never fails but you would need to have unlimited amounts of money.)
The problem with all that delegation shit is that they can't give more then people would otherwise earn. Let's say for example your voting power is 1 steem per day with curation rewards already taken into account. A dapp can't really payout more then your voting power is worth. Most dapps give worse returns then selling your voting power with minnowbooster or smartmarket.
Besides that many people don't understand inflation. You only earn with your delegation if the return is higher than the annual inflation otherwise it makes no sense.
But in the end it doesn't work trying to educate people and it makes no money. Just keep it quite and take the money instead. Let them gamble, i'm market making epic tokens instead :p Casino's are fun! The now closed Moonsteem casino was also like this. You could earn big returns simply by not gambling but doing the math and investing in the casino instead.
I guess a lot of people don't undertand what risk/return and probability to succes means. That's basically how casinos work. Let's say you have 49% win chance and you can earn as much like you gamble. Then 51% of the time you end up losing and 49% of the time you win as much. This is exactly how epidice makes money. Just some basic math even little kids would understand.
I stopped using these dice games a while ago because they quickly got boring. Most of them are just trying to keep up their game. They need constant pressure and monitoring so they don't get out of line. 2 large ones have gone bust and they are all operating in grey and black areas.
Their tokens must be closely watched because of the way they promote these.
Fair enough to call them rewards when gambling. However when delegating it is quite different.
These casinos have a place on the lockchain and I like them EPIC is one of the better ones, but we shouldn't let down our guard.
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https://steemit.com/steemleo/@coininstant/my-letter-to-themarkymark-in-response-to-his-continual-flagging-of-my-account-and-not-hearing-about-my-steemleo-block-from
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