Currently spending 10.000 vite to get the Vite VIP status mainly benefits you when you are either mining VX through market making or when you are day trading, which is nice but when you are mining through trading it is actually a disadvantage because less fees equals less VX mined.

Therefore I would suggest 3 changes to be implemented:

1. Change staking 10.000 vite to get VIP status to: burn 10.000 vite to get permanent VIP status.

2. Making sure that VIP status benefits all ->

• let people choose between:
  A) fee discount (for day traders or market makers)
  B) mining fee bonus (for miners through trading)

1. Because there are now (permanent) 2 VIP bonusses You could make the first VIP status 10.000 vite and the second 50.000 vite (Burned rather than staked)

Please let me know how you you guys see this suggestion

@CryptoLily

Sure! I currently use the assumption that the newly distributed VX are partly used to swap for Vite / USD / BTC / ETH so that people have a countervalue for mining.

Since the new VX are distributed In the early morning (in my timezone) I expect downward pressure on the prices in the morning.

Since the number of non staked VX in circulation remains roughly the same , I expect the new VX be absorbed during the day (removing the downward pressure that was generated due to new VX hitting the market.

So I incorporate this assumption in my strategy:

• start of the day (with downward pressure on VX) —> buy VX with btc/vite/eth/usd

• during day:
  —> mine by trading (on the x3 pairs)

• end of day (without downward pressure on VX price):
  —> sell VX for Vite/ BTC/ETH /USD

Hope you also find this useful

@CryptoLily
Thank you for your reaction!

I decided to give it a try by creating a new account strictly for mining (while leaving my main for dividends).

I used 0.09 BTC on that new account for mining. Now 2 days further and > 850 vx mined at hardly any efforts. So far (2 days) profit ~ 0.03 BTC. So thank you for your advise!

@felicity

It means that the price of VX due to mining is lower than the market price (you can still sell the vx mined in the market at a price above your transaction cost price

Well first off congrats on your successful strategy!

Could you shed some light on this:

• i see in the screenshot regarding market making that you mined allot more VX than the number that you have staked. Is this correct?
• Does this mean that you use part of the mined VX for trading / marketmaking rather than staking?
• if so - what ratio would you advice? I currently have all VX staked but hardly generate anything from mining, so any advice will be appreciated!

Cheers!

@Oleg hey Oleg, is there any update on the consideration?
Kind regards!

@vroder

I understand and you might be right.

But consider that coinmarketcap Volume Ranking has such an important Value as it an exchange is trustworthy. People will look for trustworthy exchanges and leave out the rest.

All Good So far - but this also motivates (all) exchanges to manipulate this (not just vitex) to signal more trustworthiness.

Not using ViteX for wash trading is like blaming Lance Armstrong for his EPO usage - sure you are right - but are the alternatives clean?

To date - I benefited from ViteX and their dividend distribution - furthermore the concept is strong. Only would like to see more active usage of the discussion board.

Anyway, best of luck to you!

@felicity

Thanks for taking the time to write it! Interesting article!

To me - VX vs Vite is simple:

Situation:
As I reinvest any return 100% on all accounts & I have a decent amount of both.

I remodeled the release curves of both VX as well as Vite - doing that you can build an simple dashboard that calculates the expected daily return as well as the NPV (under few assumptions). I basically reinvest based on the daily returns (as it is possible to swap over time).

VX provides now the best return on investment- but the release schedule shows that this will change (compared to staking | even in the minimal scenario that 100% vite would be staked).

So basically to me simple:
1.reinvest in VX as long as that provides best return.
2. Reinvest in Vite when that provides best return
3. Swap vx to vite when the difference in return >= missing dividends

Edit: I might make the dashboard available in the near future as a helpful resource for the community.
It would be great that in that section “helpful resources “ we could also find an solid comparison between SBP’s (willing to build , but have quite some trouble finding the information)