So BTC continues its meteoric rise (trading at 5,235 USD on Coinbase as I type), which seems to be having an impact on the GALI order book...I've noticed that the amount of GALI for sale has risen substantially since BTC started making a move, whilst the price of GALI has remained relatively stable. Another thing to note is that buying has dried up a little. Is all of this to be expected?

I imagine there are many people kicking themselves for not buying BTC when it was lower and furthermore for not having subsequently bought some/more GALI! I know - I'm one of them!

Does anybody have an explanation as to why there is currently a considerable amount of GALI for sale? Is there a correlation with the rising price of BTC or am I thinking about it too deeply?!

It's been a pretty exciting past twelve hours or so; Galilel announcing the establishment of a corporate entity and BTC making a dramatic move upwards, possibly signalling the end of the bear market. I think the stars are starting to align nicely now and GALI will continue to go from strength to strength. Whilst many of us in the cryptosphere tend to look at short timeframes, hoping for instant gains, after a while you soon come to realise that that is just 'noise'. You only get a clear picture of trends by looking at higher timeframes. This is particularly applicable to GALI given that it is a young currency. In my opinion the team are making all the right moves - a slowly but surely approach to building a genuinely successful project rather than a reckless pursuit of instant riches with no substance. It's important to keep an eye on your investments, but just imagine switching off from GALI for the next few years...I feel sure your eyes would/will pop out of your head when you see where we are then compared to now!

Hey this is great news! Establishing Galilel as a corporate entity will certainly add a huge amount of credibility to the project. This will provide those companies/organisations that we want to partner with a whole new level of confidence that Galilel Project is a bona fide organisation. Furthermore it will legitimise GALI in the cryptosphere and draw more people into the community.

This may seem a bit random and is a question probably best answered by Babyface or perhaps Swooty, but if anyone else is able to provide a response, please go ahead...

My daughter bought an Amazon Echo the other day and this morning we've been having a bit of fun trying out various commands and seeing what information the device can look up. It was very simple to obtain the price of BTC, albeit it was probably a global average price as we wouldn't obtain a price specific to an exchange. Of course I then had to ask what the price of GALI is...it didn't come up with any information whatsoever, including when I tried commands for both Graviex and Crex24.

So the million dollar question is how can we get GALI recognised by Amazon Echo, and even better still, specific to an exchange? It may seem rather novel/trivial, but I think it could provide us with some great marketing material! Come on devs - there's a challenge for you to add a bit of fun into the daily grind of coding!

Whilst the number of people in the Galilel discord has risen then fallen back a bit (probably due to the recent invite bounty expiring), it's nice to see a few new faces engaging in the General chat and joining the community. There has also been some increased buying activity which is supporting the price around the 200 sats level - I've noticed some chat about lack of supply and GALI getting snapped up, but I'm inclined to think that there is plenty to go around...there will always be sellers. The thing about GALI is that we are in the development stage of the project and so the price movement is pretty slow - if it shoots up, it soon drops down. Whilst there are people that want to accumulate GALI, there are also people who will have already made a decent profit and want to speculate elsewhere - ALTS have been performing nicely over the past couple of weeks and opportunities abound!

Some useful feedback there eshby - interesting to see things from someone else's perspective. I think bitalk1's subsequent post also pretty much hit the mark - that most people just want freebies and don't even look at the name of the coins that they are scooping up. I like the idea of seeing GALI being distributed by an airdrop but appreciate the the net benefit may well be very small and that the entire process could in fact have negative consequences (such as dumping on exchanges).

Perhaps there are more sophisticated ways that Galilel Project could garner attention? I haven't put much thought into this but maybe if somebody were to complete a few tasks and prove that they already supported the currency (proof of already owning a small sum of GALI) they could be rewarded with a bonus?

I guess I may well be in the minority when it comes to taking advantage of airdrops/faucets - I own GALI, have no intention of selling, would of course love to pick some up for free but, crucially, wouldn't dump them on an exchange. It sounds like perhaps the only sure route to success is to carry on developing, building partnerships, spreading the word and reminding ourselves that Rome wasn't built in a day!

If anyone here has any suggestions regarding how we might broaden the appeal of GALI and grow the community (in particular through the distribution of free tokens), please throw your hat in the ring! It may come to nothing, but the more ideas we can mull over the better - please don't think that this forum is only for team members, people with an in-depth knowledge of crypto or just big bag holders - I am none of them! 

GALI Airdrops?

Has Galilel Project ever done an airdrop?

I'm wondering whether this is something you (team!) would consider doing via a recognised platform such as AirdropAlert.com or Airdrops.io? I've also noticed that recently more exchanges (including Graviex and Crex24) offer airdrops in the form of faucets that you can claim periodically.

Regardless of whether you would or wouldn't do a GALI airdrop, it would be interesting to discuss the pros and cons, merits or otherwise of airdrops. Could this be a beneficial means of broadening the reach of GALI and expanding our community?

From my own perspective I can honestly say that I have received some airdrops (including ERC-20 tokens deposited directly into MEW with no interaction required from me whatsoever) that has led me to researching and investing in projects that I might otherwise never have discovered.

I think there is a legitimate case to discuss the subject here!

Thanks for the response eshby - I'm glad to see that a member of the team is actively monitoring Bitcointalk!

The volume side of things is very frustrating but I appreciate your stance to playing fair. Perhaps over the course of time those projects that are manipulating the true picture will fall by the wayside and projects like Galilel will gain the recognition they truly deserve.

It's a shame that the cryptosphere places so much value on the information found at CoinMarketCap - as m3mbr44n points out, there are alternative platforms such as Coinpaprika (which I am also swaying towards lately). Hopefully CMC will gradually lose its perception as being 'the holy grail' of listings!

Thanks for shedding some light on the situation. Please don't misunderstand me - I'm not criticising Babyface or anyone else on the team...my (our) frustration is with CoinMarketCap (CMC). I am fed up with seeing so many projects listed on CMC that are widely recognised to be scams or very suspect at best. Galilel really seems to be stuck in limbo - a classic 'chicken and egg' situation - we need more volume but without a listing on CMC reaching the requisite volume (whatever figure that may be) on a consistent basis is going to be difficult.

Out of interest, can you please explain how volume can be faked? If I were to buy say 0.1BTC of $GALI and then on the same day sell it back to myself for less than I paid for it, obviously I would be taking a hit financially but it would get the volume up - surely that scenario wouldn't be classed as fake volume given that a genuine buy and sell has taken place? If a number of people did this then the daily volume could soon hit some respectable figures. The downside is that in a short space of time we could all have wasted our funds! Presumably there are sophisticated ways of doing this using bots that might help minimise your losses or even make some profits in the process? What is your (Galilel's) stance on this process from an ethical/moral standpoint? I must admit that I'm swaying towards 'if you can't beat them, join them'. We're a legitimate project with great prospects but are 'waiting in the wings' whilst the rest of the crypto show continues!

I was doing a bit of research over the weekend into various crypto projects that, like Galilel, were forked from PIVX. In the vast majority of cases the similarity ends there. From what I've read it appears that the majority of these tokens don't seem to either know what zCOIN is/can do or have no intention of implementing it due to the inherent development complexities!

To add to this sorry state of affairs, I also get the distinct impression that, aside from a few well funded bigger projects that have full time dev(s) on board, a great deal of these crypto projects either (if they're lucky) have a dev that is working on a part-time voluntary basis but often across more than one project, or don't have a competent dev at all and have to outsource any requirements to a (paid) third party. Invariably they can't afford to do much - an essential fix here and there at best with very little development as such.

This loose assessment of mine reflects well on GALI! Of the hundreds of PIVX forks out there, most have very little prospect of reaching their goals. However we have our own world class dev who, like the rest of the team, is not only committed to making Galilel Project a success but also has every chance of actually realising it.

 

OK so I may be accused of impatience, but I've no doubt we're all still wondering when (if ever!) Galilel will get listed on CoinMarketCap?

I think it must be several weeks now since it came to light that CMC had apparently overlooked the fact that Babyface sent answers to all their questions months ago, yet we haven't heard another word from them.

One thing that concerns me slightly (and I would be grateful if someone from the team could provide an answer to this) is that this morning, when doing a bit of research into other cryptos, I read somewhere that to be listed on CMC they require your token to have a minimum trading volume of USD$5k per day. If that is the case then that may explain why we have yet to get listed - alternatively what I read could simply be inaccurate and misleading.

Anybody? 

Masternodes v Staking

I'm wondering whether anybody can please explain to me the pros and cons of running GALI masternodes versus staking GALI (aside from the practical aspect concerning needing to keep your computer on and connected to the internet for staking). Furthermore what the benefits are of staking zGALI?

Whilst on the face of it masternodes get greater rewards than if you were staking, one thing that I have often wondered about is if you had a GALI masternode running and also had 15k GALI staking, is it possible to gain greater rewards from the staked coins than from the masternode by splitting the 15k into stacks of a certain size? Is their a magic number that can 'beat the system' or is it technically impossible?

Finally, when it comes to staking zGALI, given that staking zGALI gains greater rewards than running a GALI masternode, why doesn't everybody stake zGALI and stop running masternodes? At some point the zGALI could be converted back 1:1 to GALI - surely this process is the best way to increase your future balance of GALI?

Oh, one more question I'd be grateful for an answer to...am I correct in that you only pay a fee to convert GALI to zGALI i.e. converting zGALI back to GALI does not incur a network fee?

***REWARDS REDUCTION***

Today marks another milestone in the Galilel blockchain with the final rewards reduction coming into play having passed block 430000.

Rewards have now halved from 10 to 5 and will be shared 70% to masternodes, 30% to stakers.

I should also point out that the rewards for GALI/zGALI stakers are different, favouring zGALI. My understanding is as follows:

zGALI stakers get 3, MN 2
GALI stakers get 2, MN3

The Galilel Project continues to forge ahead on a daily basis - small steps maybe, but nevertheless forward momentum which I am sure will only continue to gather pace...

The latest announcement (https://youtu.be/UNm3Xa911A8) is that Galilel has been listed on Apollon Nodebuilder platform.

Here's a link to where you can run your masternode:

https://platform.apollon.network/

There are now a wide choice of ways/places that you can run $GALI masternodes; from setting up masternodes yourself on a VPS to outsourcing the whole process/maintenance etc to a vetted third party such as Apollon.

If any of you downloaded the Android beta mobile wallet recently (Beta1 or Beta2), you'll no doubt be excited to hear that our dev has been burning the midnight oil - he has fixed all the reported bugs (crashes etc) in github. The latest version is available for download here:

https://galilel.cloud/android/galilel-git-c7a9571-debug.apk

As before, the community is encouraged to download the latest release and test it. The more that it is tested at this stage, the greater the likelihood that the final version will be bug free when released in Play Store.

In order to gather as much feedback as possible, whenever you face a wallet crash, please create a bug report from within the app which will be emailed to the dev.

It's been a little quiet over the past day or so with not much going on in the Galilel community - at least not much general chat in the discord server. Having said that, I have every confidence that the Galilel team are continually working hard behind the scenes to advance the project.

Development continues apace, along with business partnerships being struck and of course there is always support there if you need it (in discord) for anything to do with your wallet, running masternodes or staking.

If you are new to GALI and have yet to join the discord, feel free to use the following invite:

https://discord.gg/sVDmsh8

We're a friendly bunch of people on a mission to see GALI gain adoption as a general purpose cryptocurrency.

Apparently PIVX have already fixed the vulnerability which affects all PIVX forks that are using Zerocoin v2 protocol. My understanding is that the issue, in the case of PIVX, is that someone was able to create PIV from zPIV which didn't legitimately exist.

We're all looking forward to an announcement, hopefully sometime this week, that our legendary dev 'babyface' has sorted out this exploit in Zerocoin protocol implementation. What is reassuring to know is that the bug doesn't allow anyone to steal or tamper with your GALI or zGALI holdings.

What I would like to know though is, if somebody were to create GALI from zGALI that didn't actually exist, what are the ramifications of that? Presumably they could then convert that GALI into zGALI, which I guess would then legitimately exist? Also, what about the supply? If GALI (or any fork of PIVX for that matter) were to be created out of thin air, would the project then need to adjust the supply parameters or change the rate of emissions to compensate for the increased supply? 

I'm not too concerned about the latest bugs discovered in the PIVX code - PIVX will no doubt come up with a fix pretty quickly and our dev will implement it accordingly. Galilel is in safe hands. The projects you should be worried about are those with no dev who, at best, outsource their coding needs to techies without a vested interest in the project. If you hold coins in other projects that have been forked from PIVX you should take a close look at them as you may want to reconsider those investments! Go GALI!

Thanks for the comprehensive reply babyface! I'm a bit of a technophobe so had to google GUI, UI, UX and Qt but all good and fully understood! It would be awesome to have our own GALI wallet, but I guess that is some way down your list of priorities. I'm pretty sure I read the other day that there are over 700 forks of PIVX - I wonder how many of them have built their own wallets? Not many I'm sure and so for GALI to lead the way in this respect would be great!

I've been standing on the sidelines watching the spat between Bossteck and Babyface + team unfold regarding Bossteck's departure from Galilel Project and, as somebody who has no knowledge about the situation other than what I have read on discord and bitcointalk, I feel compelled to throw my pennies worth in as an ordinary member of the community...

Galilel is driven entirely by volunteers with no guarantees whatsoever of recompense. If somebody wishes to volunteer their time and energy in driving the project forward, be that in terms of software development, creating artwork, forming business partnerships or simply putting a positive message out on social media, that is entirely their choice. I think it reasonable to assume that anyone 'volunteering', to whatever extent, would/should have a vested interest i.e. they would have bought some GALI prior to getting involved. Furthermore the amount of GALI that they hold would reflect not only their belief in the project but would also be directly correlated to what impact they felt they could have on advancing the project.

Make no mistake, the community is grateful for whatever Bossteck has done for Galilel Project, however I find it very surprising that he, from what I deduce, has no (or possibly a relatively small) holding of GALI (if he owned a sizeable chunk of GALI then the sensible thing to do concerning his departure, whether it be acrimonious or otherwise, would be to let bygones be bygones and just leave, knowing that he could sell his stake at a time of his choosing). The fact that he (from what I gather/assume) chose NOT to build a decent stake prior, or shortly after, getting involved in Galilel is his own fault. Sorry but that is the harsh truth. If he believed that he could have a really positive impact on the future of GALI he would have invested in himself.

If his involvement was based on the loose promise of getting some reimbursement from the project at some point in the future then I think it was naive for him to have committed to carrying out voluntary work on this basis.

The way I see it - Babyface's reputation is intact, Bossteck's commitment should have been backed up by his own money.

I won't be saying any more on the matter.

To all the volunteers...the community thanks you! The future is bright for Galilel!