- We're paying developers with them. This doesn't require selling them, it just requires paying developers with them. <---doesn't say the dev's are not dumping!
I think we're using a different definition of the term "dumping". It's an emotive term generally used to describe selling a large amount - at the very least enough to depress the price. Individual devs selling coins will not do that. They'd just "sell", not "dump". Or they'd just *use* their coins through the Blocknet to pay for stuff. No dumping there under any definition. |
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Hmm... the more I think about the Blocknet stuff, the more I am growing with uncertainty. Of course, I think it's quite a brilliant project. But is it going to weaken the position of XC? The price drop since the Blocknet announcement reflects that opinion.
Things that concern me are:
- People will be able to use the private transactions of XC via the blocknet
- XBridge which will be open source and used by all the blocknet coins, is based on Xnodes
The more I think about it, the more I would have liked to have seen XC feature more of a central role in the Blocknet.
This Blocknet stuff doesn't seem specially connected to XC anymore than any of the other coins that take part. Or am I misunderstanding? Of course Dan is involved and there is the XBridge, but none of that helps the value of XC.
If I'm missing something, please let me know. Because I'm an XC supporter and follow the XC events fairly closely.
i assume you have enough XC to host some mixers. the blocknet will bring you more fees than XC community alone would have ever could. imagine a bitcoin wallet with the xbridge. I think i see where your concerns are coming from. the Bitcoin holders wouldn't have to buy xc first if they wanted to use it so you are concerned about the buying pressure. this is true in the short beginning BUT every coin like XC that gets used alot because of its features and generates revenue is still the much more attractive hold than those "reciever coins" on blocknet. so naturally the buying pressure for coins like XC that make you earn while you hold will develope the same like before the blocknet. just with much increased user base and by so earning oportunity. Minor addition to that: to have one's coins mixed, they'd have to be converted to XC first - at the decentralised exchange. Then the XC would be mixed and sent in fragments to multiple recipient addresses. Those addresses could then be converted to whatever currency the user wants. So Xmixers would get all the fees. :-) |
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Hmm... the more I think about the Blocknet stuff, the more I am growing with uncertainty. Of course, I think it's quite a brilliant project. But is it going to weaken the position of XC? The price drop since the Blocknet announcement reflects that opinion.
Things that concern me are:
- People will be able to use the private transactions of XC via the blocknet
- XBridge which will be open source and used by all the blocknet coins, is based on Xnodes
The more I think about it, the more I would have liked to have seen XC feature more of a central role in the Blocknet.
This Blocknet stuff doesn't seem specially connected to XC anymore than any of the other coins that take part. Or am I misunderstanding? Of course Dan is involved and their is the XBridge, but none of that helps the value of XC.
If I'm missing something, please let me know. Because I'm an XC supporter and follow the XC events fairly closely.
Hey Mr_Random In my opinion, to wonder whether XC is weakens by people using XC's private transactions over the Blocknet is like wondering whether using Google over the internet weakens Google. :-) The Blocknet means a massively increased user-base for XC, the leading privacy service provider. There's no better way than actual usage to spread awareness about a product. And of course Xnodes will get fees for mixing. Again, I agree with mr_random,I believe the coins that are going to play a direct role in the blocknet intially(and that means XC and NHZ from what I could see-an asset exchange would be make ontop that coin) should be the "core group" of coins. This would create a solid base from those coins that would provide most of what the blocknet would offer. I think that if there was any distinction between core coins and peripheral coins, we'd - not be a true "internet of blockchains", since the framework wouldn't be open, democratic, and indefinitely extensible - lose our edge against Supernet Edit: also there's no effective difference between being a core coin and being a leading service provider. So with the Blocknet, XC's position will be as strong, without the centralisation. Works for me. |
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Hmm... the more I think about the Blocknet stuff, the more I am growing with uncertainty. Of course, I think it's quite a brilliant project. But is it going to weaken the position of XC? The price drop since the Blocknet announcement reflects that opinion.
Things that concern me are:
- People will be able to use the private transactions of XC via the blocknet
- XBridge which will be open source and used by all the blocknet coins, is based on Xnodes
The more I think about it, the more I would have liked to have seen XC feature more of a central role in the Blocknet.
This Blocknet stuff doesn't seem specially connected to XC anymore than any of the other coins that take part. Or am I misunderstanding? Of course Dan is involved and their is the XBridge, but none of that helps the value of XC.
If I'm missing something, please let me know. Because I'm an XC supporter and follow the XC events fairly closely.
Hey Mr_Random In my opinion, to wonder whether XC is weakens by people using XC's private transactions over the Blocknet is like wondering whether using Google over the internet weakens Google. :-) The Blocknet means a massively increased user-base for XC, the leading privacy service provider. There's no better way to spread awareness about a product than actual usage. And in addition Xnodes will get fees for mixing. |
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Teka... quick question. Did Ursay get banned from the XC thread?
I've been banned from a thread before (not xc related) so I have a general idea of what it looks like. Deleted posts kind of look similar then it comes into your inbox. I jumped to conclusions and thought I was banned when I saw the deleted posts in bold. It was my fault for not looking closely enough and I've edited the threads where I mention that I was banned. I've also apologized to the xc team for any misunderstanding. I will say it again...I'm sorry that I may of made a tense situation yesterday worse then it needed to be. Thank you Ursay. Apologies for the misunderstanding on our side too. We didn't want to give you the impression you were banned. |
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There'll be a custom page for the ITO. We'll keep you posted on the details. |
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Ha ha. This is awesome.
Blocknet: "the Mega Man of altcoins" - Coin Telegraph |
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Are we able to sell the tokens for BTC after the sale is over?
Yup. At Bittrex, Poloniex, Bter, and Coingateway. The BTC:BLOCK pairing will continue until tokens are redeemable for NHZ assets (when fee payouts begin). |
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CoinGateway will handle the majority of coins.
So does this mean if we buy blocknet with XC on coingateway, that coingateway then DUMPS the XC into the market and the XC price crashes?? How is the XC exchange rate calculated?  ? No. The Blocknet Foundation keeps the coins to fund development. No coins are dumped. This is in the FAQ under the OP. Are the coins held in escrow...or will they be sold off slowly over time? They will not be sold off at all. They will be used to pay for development. We're looking at ways to hold the coins in escrow, though trusted third parties seem a little thin on the ground. Check out the FAQ below the OP for more info on how we'll handle the funds. Isnt that a contradiction? If you hold the coins how can you pay devolopment? Btw. will all code regarding blocknet be open source? Because as far as i see XCurrency is closed source? From what I've read the XBridge tech will be open sourced. Yes the XBridge protocol will be open source. As for selling off coins: it's not a contradiction. - We're not selling off coins - We're paying developers with them. This doesn't require selling them, it just requires paying developers with them. So we're not selling off coins. There will be no dumping of coins. |
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Sorry to ask a question that could cause fear uncertainty and doubt but I have asked this question a few times and been ignored.
If we can buy into the blocknet using XC , does that mean that those XC could or would get dumped into the market and the price of XC will crash?
This is a really important question for us. We need an answer.
None of the coins used are going to be dumped. You cannot really say that... You are ITOing for close to 1M in alt coins most likely. This is going to be needed to pay the developers of the BlockNet which in turn are more than likely going to sell these coins to actually be able to pay for their expenses. Depending on the ETA of the development, you guys will basically be selling for 2500 BTC worth of coins between the ITO and the final release. The total ICO is less than 1M, and not all is from altcoins, only a percentage of that would be. the rest is in btc To quote the FAQ: Will the ITO collect a large number of coins and then dump them to cover expenses? - No. Coins will not be dumped. They will be paid to developers in little amounts, over the duration of the project. Therefore the ITO will not decrease the value of participating coins. - 1.Are the blocknet developers the same developers of the participating coins? 2.Can any of the developers be paid in XC? - 1: not necessarily. - 2: of course. |
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Sorry to ask a question that could cause fear uncertainty and doubt but I have asked this question a few times and been ignored.
If we can buy into the blocknet using XC , does that mean that those XC could or would get dumped into the market and the price of XC will crash?
This is a really important question for us. We need an answer.
None of the coins used are going to be dumped. You cannot really say that... You are ITOing for close to 1M in alt coins most likely. This is going to be needed to pay the developers of the BlockNet which in turn are more than likely going to sell these coins to actually be able to pay for their expenses. Depending on the ETA of the development, you guys will basically be selling for 2500 BTC worth of coins between the ITO and the final release. The total ICO is less than 1M, and not all is from altcoins, only a percentage of that would be. the rest is in btc To quote the FAQ: Will the ITO collect a large number of coins and then dump them to cover expenses? - No. Coins will not be dumped. They will be paid to developers in little amounts, over the duration of the project. Therefore the ITO will not decrease the value of participating coins. - What this does is increase actual usage of the coins. It won't suppress their price. |
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CoinGateway will handle the majority of coins.
So does this mean if we buy blocknet with XC on coingateway, that coingateway then DUMPS the XC into the market and the XC price crashes?? How is the XC exchange rate calculated? ? No. The Blocknet Foundation keeps the coins to fund development. No coins are dumped. This is in the FAQ under the OP. Are the coins held in escrow...or will they be sold off slowly over time? They will not be sold off at all. They will be used to pay for development. We're looking at ways to hold the coins in escrow, though trusted third parties seem a little thin on the ground. Check out the FAQ below the OP for more info on how we'll handle the funds. |
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Sorry to ask a question that could cause fear uncertainty and doubt but I have asked this question a few times and been ignored.
If we can buy into the blocknet using XC , does that mean that those XC could or would get dumped into the market and the price of XC will crash?
This is a really important question for us. We need an answer.
None of the coins used are going to be dumped. Hah. Yup: https://bitcointalk.org/index.php?topic=829576.msg9293808#msg9293808 |
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I think those points need nuancing a little better.
1) NXT and BTCD provide key functionality, clearly. But doesn't NHZ provide an AE like NXT? Additionally, many services are built on top of NXT (MGW, distributed crypto exchange, Atomic, InstantDEX...). Then you have BBR, VRC etc. Each coin and service brings something distinctive to the table. I also think one of the things that has caused confusion here is that Teleport is a whole ecosystem for private communication, used by BTCD for anon transfers.
2) Kademlia is DHT, used by BitTorrent. Nodes communicate P2P. Incidentally, it's worth mentioning that Kademlia enables some really very impressive anon tech: you will be able to communicate without sender or receiver, or anyone else, knowing IP addresses. Imagine an attacker with enough resources to monitor the entire network: they wouldn't be able to tell who was sending and receiving packets, let alone what was in them.
3) 10% is the ideal. I suppose you could argue that represents centralisation and risk of manipulation, though it will be held long-term and not used for trading. Its purpose is to underpin the SuperNET NAV and give it a floor value, as well as to align interests between holders. Just about everything in SuperNET is designed to reward productive engagement between the relevant coin communities and services. 10% isn't non-negotiable, but it's the ideal. In some cases I guess it might not be possible; no matter, if a coin offers something worthwhile they can be included. Ultimately I suppose this is a matter of risk/reward, and your outlook on such things. Also bear in mind that ANY coin can use SuperNET via the API.
Anyway, just some thoughts on your points. Hope they're useful.
Thanks very much for this. I'll use it in the FAQ below the OP to refine the comparative remarks we made. |
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CoinGateway will handle the majority of coins.
So does this mean if we buy blocknet with XC on coingateway, that coingateway then DUMPS the XC into the market and the XC price crashes?? How is the XC exchange rate calculated? ? No. The Blocknet Foundation keeps the coins to fund development. No coins are dumped. This is in the FAQ under the OP. |
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*le sigh*
Anyway, your circular arguments will obviously convince/fool the less informed and ill educated, but xbridge is offering nothing unique in it's implementation that SuperNET doesn't do.
Even *if* that is true, so what? Competition is good. The two projects are not clones of each other, they're being written from the ground up by two different teams of programmers. Neither project is even finished yet. Complaining about this is ridiculous. I think the point to begin with is that the statements regarding SuperNET in your launch info are misleading. But to some that won't come as a surprise. It's not XC's launch. |
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Kademlia... that's distributed hash tables, aka DHT. DHT uses servers to lookup and locate nodes. Therefore it's not truly distributed, thus not P2P.
In contrast, the Xnode protocol, upon which the XBridge is based, is completely serverless in operation and truly distributed.
So what exactly will XBridge use? I'm told Telehash v.3. Mesh networking - like XCurrency, and a bit of DHT too for scalability. Completely serverless of course. https://github.com/telehash/telehash.org/tree/v3/v3 |
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Thanks very much for the sustained clarification here. This is quality discussion.
To address your points in order:
1) The XBridge protocol is not part of XC and does not run inside XC.
It's open source and will be integrated into all coins on the Blocknet.
It's required for every Blocknet transaction, not just those involving XC.
In contrast, BTCD and NXT are core technologies in the Supernet, and pretty much nothing can be done without them.
As is the SAME for XBridge. Will XBridge work without your core coins? Nope. I didn't know XBridge is opensource? Whats the link for it? It's not the same with the XBridge protocol. The whole point is that the XBridge protocol does not run on any particular coin. Every coin in the Blocknet is a "core" coin, or at least has the same status. No coin can be part of the Blocknet without having an XBridge. From the above, the XBridge is not the same as BTCD and NXT. It's not even a coin! The XBridge protocol hasn't been created yet. I hear part of it has been written though. If I get a Github repo from the team, I'll publish it widely. |
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