Removed thequote at OP request.
quoted for the visual
|
|
|
Yo mates! Anyone have an invite code, I want to rejoin the network since I saw is on Saturdays only. Nice thing btw. Thanks!
EDIT: Got one, thanks!
|
|
|
As I've stated in the first place at p2, I know it contradicts, that's why I've suggested that the miners number needs to get lower, not inflation higher. So you are saying here that lower number of nodes will be better for IDNA price? Thats the oposit of what logic say. Lower amount of nodes = less secured network (creating centralized 100 node farm and attack network is easy, creating 100 000 centralized node farm is impossible). The whole point of idena is having as much nodes as it is possible to attract advertisers, to be faster and cheaper (with sharding) and many many more. First time I hear that destroying coin fundamentals (forcing nodes to quit to lower nodes amount) will benefit the price. I agree about the nodes (more is better), but not all nodes should be miners imo. If all nodes are miners, how can you stop coin dump from let's say 100K nodes (from your example)? Let's assume 50% are selling, 50% are holders, that's a lot of coins reaching the market. I think a mechanism can be done, to reward more the holders and less the dumpers. This can be achieved through different ways, For example, if an identity kill itself to get the stake out should get less coins (this can be done easy using the identity age) and / or if a node-miner (since on Idena is the same thing) get's out more than 25% of the wallet, should have the reward decreased, maybe introducing a minimum DNA amount to join the mining pool will help the price and will also separate miners from nodes (like some sort of masternodes), if you like. Regarding the coin age, can be done a tier and nodes can get increasing rewards with age, stimulating nodes to not leave the network, miss validation or kill the identity. BTW, anyone knows what is the point of identity age right now?
|
|
|
Rewards are low because price is low. Not because miners should get more coins becasue more coins = bigger inflation = even lower price = even lower rewards. So in this point you state that price is low because price is low.
So p1 and p2 contradict each other. You cant lower inflation in the same time make higher reward.
But in the end of the day the only sensible conclusion from point 2 is that ... price is low and 5 mln $ for innovative coin with 8000 nodes is insane.
As I've stated in the first place at p2, I know it contradicts, that's why I've suggested that the miners number needs to get lower, not inflation higher. Time will tell if I am wrong or not... Cheers!
|
|
|
Uh, when I joined, validations were 5 days apart, there were no exchanges so DNA, yes DNA, traded OTC in the discord for 125 sats which was $0,01 at that time. So $0,01 to $0,30 that was 30x. But I think that this is still early on. I'm interested in ads and how will they drive additional burning of iDNA and how will that reflect on future price.
3 days, 5 days.. you got the point (I know that it was very short since at the time was pissing me off the constant validations ) As for the price, I was talking at what price had started, not at what price went after a while ... 36 million premine to 0.1$ price at this moment(i asked to buy from team and they offer me DNA to 0.1$) ...
Anyways, I'm o hodler, so I hope I am wrong.
|
|
|
I just cant bealive its so cheap.
Well believe it... It will stay this cheap for a long time imo if the things won't change. I don't want to spread fud but, that's the reality. And the reality is that the price is the same since late 2019 i know because I'm in Idena and mining since the epoch was 3 days back in 2019 and the price was ~$0.1, and its been only gone up 3x as ATH to near $0.3. Here are the 2 reasons I personally see why the price tanked for so long and nothing will change, unless something will change: - 1. Inflation. Near 20 millions (18.9M if my memory serves - like Dash&Monero total supply) inflation per year is a lot... Let's think about it: in 5 years from now, circulating supply will be 3 times more than it is now and from an investor perspective this is a lot. - 2. Reward for miners is very low, and many leave (selling their coins), new one come, old ones leave... is a cycle, I can understand but on Idena is very aggresive. There is very little money to be made as miner (6 coins per block / 8000+ miners => ~3.2 coins / day / miner). I know makes no sense, I want more coins for miners and I want the inflation reduced. No. I think reducing the number of miners is the way. Again this is my pure opinion about Idena. I may be wrong, I may not. Peace!
|
|
|
The price of VPS at DigitalOcean is $10, so at least the mining results every month must be above $10.
There are other VPS solutions apart of DigitalOcean and VULTR that offers more for less. i.e. Provider 1: 1 core CPU/ 20 GB SSD/ 2 GB RAM/ 30 TB Trafic/ 1 IP @ € ~3.59 EUR/month. Provider 2: 1 core CPU/ 20 GB SSD/ 2 GB RAM/ 20 TB Trafic/ 1 IP @ € ~2.99 EUR/month. I don't post their names so that people won't think I promote them. If anyone is interested just PM me and I will guide you to their websites.
|
|
|
FYI. Any successful translation work is of course remunerated via a LEGO Grant commensurate with the scope of the translation work.
Hello there! Can you please be more specific? How much is paid for the translation? i.e. 0.1$ per word or 5$ per 1000 words or else. "remunerated" can be $1 for an WP, or $200, if you know what I mean.. Thanks!
|
|
|
DeID Summit: Decentralization, identity, and democracy with Idena and Ontology This is looking good. Is there any link to the post/article of this DeID Summit? Thanks!
|
|
|
This project looks like a dark horse I have not seen a project like this before the nearest I can compare to this project is Nano or Fermat which is mining by invitation only, will read more of this project and see how these things work here.
Nano can't be mined and never was...
|
|
|
I was under the impression that the oracle voting built into the wallet was a consensus protocol. What would you consider it then? Maybe you have not used recent versions? The proof of person to verify is something completely different...
Consensus Algorithms in Blockchain A consensus algorithm is a procedure through which all the peers of the Blockchain network reach a common agreement about the present state of the distributed ledger. source: https://www.geeksforgeeks.org/consensus-algorithms-in-blockchain/As far as I know Idena uses BFT (Byzantine Fault Tolerance) consensus. The proof of person to verify is something completely different...Agree, but this is not consensus. This is how you can join the "validators pool", not how blocks are validated/added to the blockchain (consensus).
|
|
|
Maybe you guys could try to get XCN listed on qTrade.io, at least you could give it a shot.
|
|
|
I genuinely think that Idena is much better than 99% of the coins which are being discussed in this section of the forum. It has its own and unique consensus mechanism. It has more than 5000 unique humans/minters. It has one of the most active community (this topic is being bumped all the time) considering such a small market cap. What else new coin can brag with such things?
Unique consensus? Maybe unique approach of joining the mining/minting pool. But consensus is another thing.
|
|
|
Indeed. I killed my identity. So that may be an answer But still my last 6 validations from epoch 58 to 63 (from candidate up) still doesn't sum up 89.06% is 89.73%. So something is wrong. Maybe one/few of your corret/incorrect flips had "weak consensus" or "no consensus" status? As far as I know it may affect the final node score. BTW. There are plans to wrap IDENA on BSC (binance smart chain) and list on pancake swap (4th biggest swap with $300 mln volume, 1th biggest non-ETH swap). To pay 0.06 $ for trade instead of 60$ in network fees. Got the answer: Looks like the score is calculated from: right answers/total answers*100 which is 89.06. The funny thing is that if you sum up the percentages and divide them by 6 (which I did) you don't get 89.06 but instead 89.72. Anyways good to know that only last active epoch (from the birth up counts), since is a good way to reset your score. Good news about pancake listing. More exposure, better liquidity... and maybe a bigger price I hope.
|
|
|
Indeed. I killed my identity. So that may be an answer But still my last 6 validations from epoch 58 to 63 (from candidate up) still doesn't sum up 89.06% is an average of 89.723%. So something is wrong.
|
|
|
True, but the total score is the average of the last 10 validations. Which is 92.167% not 89.06% This is why I am confused.
|
|
|
I think Identity total score is somehow rigged. Is there a bug in the calculation, or am I missing something else? I have a total score of 89.06% but if I take my last 10 epoch and make the calculations I get: - short session: 92.167% - long Session: 96.521% = average: 94.344% I wonder how the protocol got 89.06% ? Note: I don't complain, since I don't use the invites, and I don't care too much about 1non-spent invite reward, but maybe there are people around affected by this issue (if this is an issue). Made some digging since it just popped into my eyes that I am not Human anymore and I am Verified. If you want to have a look: https://scan.idena.io/address/0xb98f5b979efd32174c54c0b7d20b759e4a1e03c4
|
|
|
Too bad Altility got hacked the very next day.
|
|
|
Pool operator comment (in Idena Telegram) on your post
I would love it to be true but I don't trust this guys and this whole situation. You know me ... I'm here for more than a year supporting IDENA here on bitcointalk, fighting with every troll, teaching people, explaing why thigs are like they are. But this whole thing doesn't look real. Starting from easy fix that was implemented before validation thanks to volunteer that showed up after farm was exposed and pointed at crytical vulnerability that allows you to validate iwth 90% score (that was ment to solve the problem), He is playing with us. Main reason why he showed up was to calm the situation so price could recover so he could abuse network even more. He didn't show up because he is good person that want to help. He would do that before his farm was exposed ... not now. He will say anything it needs to calm investors ... that this farm is 1 person 1 node, that it is better to give each person 6 flips to solve rather than run 10s algo and give 2 flips per node, that he is here to help, than it is not as serious as it looks like, that it is easy fix because he is hardly profiting. Price will recover, and he will continue to abuse network but just more carrefour, using many exchange account. We will find him after a year with 70% of network after one smart guy will find a bug that he was abusing. The purpose why abuser showed up and is now a IDENA celebrity is to calm us down. Don't trust every world he says. Don't sweep this case under the rug because this is the day of the final trial. You will make it right and network will succeed, or you will pretend that everything is right because abuser said something... and network will be destroyed in next few months. Remember. He now owns 15% of network. He doesn't need much to auto solve every validation with known flips and random shots. He just need few more epochs. He need time. I'm just saying that this situation looks so unrealistic. So fake. Why was he waiting for official announcement before he showed up? He wanted to know how much we know. To commit to the number of node we know about ... to prepare a scenario for himself. Thats how i see this. I shared my thoughts about how dangerous this case may be, I'm just concerned about my loved IDENA, posting abuser comment about it does not make it less valid. I have the same opinion. I bet there is no farm. Is either an exploit (since the chain is young and experimental) or an inside job. You can't tell me, that the poor people from India or whatever, pass the validation for $2-3. If they are that poor, they can't afford to pay for the electricity, and to pass Idena validation you'll need much more. Electricity, A PC, internet. And since the team is OK with the farm, I go for the 2nd one. This farm thing is just bullshit, imo.
|
|
|
Looks like is time to move on.
|
|
|
|