As people continue to ask what ELIX' biggest advantage is, I was thinking about it again more deeply. I think I finally understood what your approach is, but as long as the finalized math isn't there, it's almost impossible to recognize the whole thing. So just a simplified example of what is about to come within the lending functionality - correct me if I'm wrong: Let's say A lends 100 ELIX to B with a set timeline of 1 week (if it's paid back in time, A receives 65% and B 35% of the reward pool of Token P for this lending scenario). So far so good. But there's way more to see, isn't it? B can immediately use these 100 ELIX which he lent out from A to lend it out himself.
B->C & D, both is set to 50 ELIX and 6 days.
After 6 days, both C & D pay back the lent 50 ELIX to B, receiving 35% of the reward pool, while B gets 65% of it.
Now B has another day left to pay back the initially 100 ELIX to A and by doing so, he gets another 35% of these reward shares, while A receives 65% in this case. This could go by far much futher if i.e. in the meantime A lends out from Z, receiving another 35% of the shares from Token P or C & D can theirself lend out their borrowed ELIX and so on. All in all, one can say you similarly "stake" ELIX by lending it to B,C,D,..,Z back and forth. The more you lend or lent out, the more you get - tell your family and friends (you personally know, they've got the money to pay you back) and be your own profit generating environment with your socials, just by using the App as mentioned before. In the process, normies like your father or mother who aren't familiar with crypto anyhow, can easily purchase the needed amount within the FIAT<->ELIX gateway of the App, what apparently makes ELIX mainstream. Besides that, the hyperbolic mining process of Token P is more or less a marketing tool which will lead a lot of people adopting the app from the very first hour (benefiting early adopters). Moreover, it's like halving the block size over time, which in first sight reduces the reward pool, but by having wide useage it's also like a guarantor for appreciation (ELIX/Token P) and further increase of value like i.e. bitcoin itself has performed over years now. See the bigger picture here. It's all about incentives. It's the 'lending game' of tomorrow. |
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@Klangburg
1) Are the individual wallet addresses inserted manually to the app, or is it based on randomly generated wallets like i.e. MEW does it?
Users will have the option of either creating a wallet, which will generate their high-entropy 12 word mnemonic, or they’ll be able to import a previously generated mnemonic to the app. So to simplify, your wallets will be generated completely at random, and no information about your wallet is stored with any server at all. Only YOUR device will have access to your wallet and keys, and that’s it. So the app itself acts like i.e. metamask. Great! 2) Can one run multiple wallets or is each installation of the app linked to exactly one wallet address?
At the moment, users will only have one wallet linked to the app. However, if a demand for multi-wallet support arises, we will be sure to implement that feature. I'm pretty sure the demand will arise. An option why could be the fact that one has both an address for lending only and another one for crowdfunding. Besides that, people tend to split their funds for better security. 3) What is the requirement to become a node or how do you decide if one's a node or not? It sounds a bit like centralization tbh, appreciate a more specifically explanation on this.
Running a node simply means that an Ethereum node is being run. Therefore, there are no centralized aspects about the node, because the term “node” is simply referring to a node that is connected to the Ethereum network. For example, you can download Parity or Geth on your own computer, and after you’ve synced to the blockchain, you are considered to be running an Ethereum node yourself. Why you think there's a need for setting up backup nodes if all other nodes connected to the Ethereum network ensure it's stability at the same time? 4) So if one is going to lend earlier and more ELIX than others, one's reward in P will be greater? That’s correct. This is meant to reward early adopters, and prevent large changes in the circulating supply of ELIX in the long term. In the short term, mining Token P decreases the circulating supply of ELIX, since ELIX mining Token P will be locked in a smart contract until each mining period is complete. You can take a look at one proposed reward function here, as part of this week’s update. Got this, thanks. Will there be any additional count for currently locked ELIX like the circulating/total supply shown on i.e. CMC? 5) Is P planned to be used as an exchange token like ELIX itself, or how will one be able to claim his rewards in P?
Yes, P is meant to be publicly traded as well. P can be integrated into the app functionalities just like ELIX. Token P rewards are automatically deposited to each wallet address once mining is complete. So one can both trade i.e. P/BTC and earn it through lending ELIX? Won't this put a risk of manipulation to ELIX itself? 6) How many ELIX have to be lent to earn a single P?
While the math isn’t finalized yet, you can take a look at the proposed mining function in the Medium post linked above. In general, however, the amount of Token P received is proportional to two variables:
1. The length of the loan
2. The amount of the loan
And inversely proportional to the supply of Token P.
Currently in the smart contract, 65% of the reward goes to the lender, and 35% to the borrower.
Sounds innovative and the percentage of reward seems to be fair for both lender and borrower. Nevertheless, this is the most difficult to grasp as well as the most interesting part of ELIX' aspects, so I'm looking forward to seeing your finalized equation on this. |
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irgendwas stimmt hier nicht. elix bringt wöchentlich gute nachrichten, es gibt schon ein fertiges produkt, die idee ist gut, die umsetzung scheint ziemlich gut zu werden... aber irgendwie trudeln wir immer noch bei wenigen cents... obwohl wir mal bei über 2 usd lagen... ist das nur mit der ungewissheit und angst im derzeitigen markt zu erklären? wenn ich sehe, dass so viele schrottcoins durch die decke schießen...
na ja, außer abwarten und ab und zu mal solche frust ablassen, bleibt uns ja nichts übrig:)
Die Marktlage ja, aber das hat auch einen anderen gravierenden Grund in meinen Augen. Die Devs zeigen mit ihren wöchentlichen Updates jedes mal aufs neue, dass sie es draufhaben und immer noch einen drauflegen können. Das Problem dabei ist, dass (wenn überhaupt) nur eine handvoll Leute die Technologie und die Features dahinter diskutiert, bevor dann wieder zu "when moon" übergegangen wird - das sowohl in Telegram als auch im englischen ANN - was die weitere Bergfahrt enorm verlangsamt. Beantwortet die Frage doch mal für euch selbst - hört sich das denn nach einem soliden Projekt an, wenn ihr größtenteils diesen Müll lest? Wohl kaum .. Ihr seid daher alle aufgefordert, euch mir anzuschließen und v.a. im ANN eine tech-basierte Diskussion am Laufen zu halten. https://bitcointalk.org/index.php?topic=2144082.msg30220444#msg30220444Nur von der Seitenlinie zuschauen hilft halt nur begrenzt in meinen Augen .. und wenn ihr schon die aktuelle Marktlage assoziiert, dann solltet ihr euren Blick auch mal auf die Zukunft ausrichten - stellen wir uns jetzt als Community erstmal gut auf, steht dem prophezeiten x-fachem Wachstum beim nächsten Bull auch nichts mehr im Wege! |
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Exciting progress as always and a much better looking demo than before! Indeed, ELIX is one of the most sophisticated blockchain projects as you're continuously showing your tech understanding week after week. On the other hand, sometimes it can be pretty hard to fully understand what you guys are currently working on, if one's not a tech guy himself. So with today's update some questions occured to me again. 1) Are the individual wallet addresses inserted manually to the app, or is it based on randomly generated wallets like i.e. MEW does it? 2) Can one run multiple wallets or is each installation of the app linked to exactly one wallet address? We will be running several nodes on our servers to ensure constant stability between the mobile app and blockchain, and for backup node connections in the event that a node were to be disconnected. 3) What is the requirement to become a node or how do you decide if one's a node or not? It sounds a bit like centralization tbh, appreciate a more specifically explanation on this. We’ve been working on a new hyperbolic mining function for Token P, our upcoming rewards token. Users will be able to use ELIX to mine Token P. We’ve engineered the production rate of Token P to match a hyperbolic decay graph. In this preliminary version, ELIX in mining (locked in smart contract) produces Token P at a 10% rate per year, but this drops to 9% by the time 1 million Token P have been mined, and 6.428% by the time 5 million have been mined. The function continues its hyperbolic decay until 27 million Token P have been mined — the remaining 3 million will be mined using a constant 2.5% mining interest rate. This decaying mining model prevents large changes in the circulating supply of ELIX in the long term, while ensuring a low inflation rate for Token P. The method also rewards early adopters. In this simulation, the total supply of Token P that can be mined is 30 million. 4) So if one is going to lend earlier and more ELIX than others, one's reward in P will be greater? 5) Is P planned to be used as an exchange token like ELIX itself, or how will one be able to claim his rewards in P? 6) How many ELIX have to be lent to earn a single P? What’s especially exciting about all this is that in order to move from our Alpha stage and transition to Beta, the only thing required is to switch the node that the app is connected to from the Ropsten network to the Ethereum mainnet. Sounds like you're ahead of schedule again - eagerly waiting to test the beta!  |
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Wie man sieht, findet die Gruppe guten Zuspruch.
Durchweg interessante Diskussionen und rege Beteiligung.
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Who is going to moderate the group, most of the issue I have with some of this group is that if not well moderated some bad actors may hijack the group and spoil the fun and dillute the information one is getting from the space, I will join and see how things work out.
We've got a bot running which makes this a bit safer if the admins are out of reach, but I'm pretty sure, this won't be a big deal anyway. We're a group of people from all over the globe and spending pretty much time for crypto, so probably there won't be any issue like that. Furthermore, all of you are more than welcome to report and keep the group clean! |
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.. hodler, day trader, developer, scientist, fanboy, newbie or similiar - if you're interested in an open discussion all about blockchain technology and cryptocurrency and want to be part of an interactive telegram community - https://t.me/bullbeatsbearImprove you knowledge, help others and share your thoughts! Be sure, this is not just another p&d group: Welcome to Bull beats Bear!
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2500% wie ist das möglich  So einen shitcoin auf Rank 27 zu pumpen? Hab ich da was verpasst? Das Volumen ist völlig irrelevant. 3.5 BTC. Ignorieren, weitermachen. Fertig. morgen wieder auf Platz 879  |
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... Website translationWe have begun the process of having our website translated into many languages to have Elix reach as many people as possible. This effort is being driven forward completely by the Elixir community, who we want to thank for their continued support and contributions in helping out with translating our goals and ideas. The current languages that we are translating to include: German, French, Spanish, Italian, Dutch, Russian, Finnish, Norwegian, Filipino, Japanese, Simplified Chinese, Indonesian, Turkish, Vietnamese, Thai, and Hindi. If you would like to volunteer and help contribute with additional language translations for any language, including the ones listed above, you can email us directly at elixirtoken@gmail.com for more information. ... https://medium.com/@elixirtoken/transitioning-to-alpha-8a8a53729a02@ELIX dev have mailed you more than a week ago with the interest to translate your homepage into the german language. but have still got no answer till yet ...  As far as I know, the translations are already in the works, including the german one. Anyway, contact one of them via Telegram. They're online at least once a day to answer you. @ELIXTeam @ElixirDev2 |
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Allerdings gab es bisher auch noch keine Regierungen die das ganze Vorhaben versuchen still zu legen
und das ist leider ein realistische Bedrohung.
Versuche gab es doch bereits unzählige, nur bisher hat schlussendlich immer die Einsicht darüber gesiegt, dass es nicht still legbar und stattdessen von Vorteil ist, lieber einen Teil vom Kuchen als gar nichts zu haben. Das trifft sowohl auf privat- als auch gewerbliche Teilnehmer, bzw. ganze Regierungen zu. Realistisch ist mmn jedoch, dass etwas hinsichtlich der Volatilität passieren wird - ob das nun eher gut oder schlecht für einen selber ist, bleibt abzuwarten. crypto won't die!  |
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Patrick, nur weil die meisten alts an BTC bemessen werden, heisst das nich das alle Alts mit BTC fallen würden.
ETH hat auch locker ohne BTC bestand.
...
Das einzige was sich ändern wird, ist dass man dann seine Coins in den Cryptocoin umwandelt der sich als Zahlungsmittel etabliert hat. Das sehe ich auch so - ETH, BCH oder ein noch unbekannter Kandidat kommen mmn dafür längerfristig in Frage. Aber bevor das jemals passiert, glaube ich nach wie vor an ein weiteres, (viel?) höheres ATH bei BTC. Es besteht eine realistische Chance, dass sich aufgrund des Wertverfalls nach einer Weile alle beruhigen und die Medien weniger drüber berichten, dass würde einem Gesunden Wachstum gut tun. Das passiert ja auch gerade mit dem überwiegendem Seitwärtstrend. Die Vielzahl der neuen User erlebt gerade ihren ersten Marktzyklus und das schließt den aktuellen bear market eben mit ein - ich bin insgesamt sehr entspannt und zuversichtlich, dass 2018 in vielen Belangen noch extremer als das letzte Jahr werden wird. Wir werden jetzt eine Entwicklung durchmachen, in der Theoretische Werte (Projekte in der Entwicklung) zu tatsächlichen Werten (tatsächliche Anwendungsgebiete, tatsächliche lukrative und innovative Firmen) werden.
Dann haben die dahinter stehenden Coins auch einen aktien ähnlichen Wert und ist nicht nur seltsames "Geld" dessen Wert niemand nachvollziehen kann.
Demnach werde ich auch nach und nach weniger kurzfristig spekulieren und mein Investment eher in anständigen Projekten liegen lassen.
Da gibt es inzwischen dutzende die gute Chancen haben richtig wertvoll zu werden.
Und diese Projekte / Firmen werden auch immer einen Wert haben, BTC hin oder her.
Da gibt es / wird es auch weit hinter den Top 100 einige Kandidaten geben, bei denen sich ein HODL immer mehr auszahlt. An dieser Stelle sei an den stetig wachsenden Telegram Chat erinnert (700+ Member bereits) - interessante Diskussionen unter https://t.me/germancryptotalk |
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