Good news: Bter has now disabled selling on the BLOCK:BTC pairing.
How is this good news? I want to be able to set a sell order if I want to. It's good news because this is an ITO. That is, this is the period in which we distribute funds. It is not the period in which you sell BLOCK. You can sell after the ITO is done. |
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Hey Reebokasss, didn't we make a deal that you'd not post negative comments anymore?
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Good news: Bter has now disabled selling on the BLOCK:BTC pairing.
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This is just another clone of SC wallet,nothing new.
The wallet is indeed just a fork of some other coin. But that is irrelevant because the wallet only serves as a place to store the BLOCKs while the tech is being developed to exchange them for NHZ assets. How is this irrelevant when the wallet is almost the only criteria if the ITO is successful or not. See: * Once the ICO is over we will verify there is working wallet, blockchain, and block explorer. Block explorer is even easier to clone than a wallet, so this simple task of cloning some other wallet is what allows the funds of 0.3-1 million US$ to be spent or not. At least be honest about that it is relevant, when the dev team haven't troubled themselves to write the whitepaper what they want to develop. Pretty graphics with some marketing mambo-jumbo is far from optimal development starting point. The wallet is *not* a criterion for the ITO's success. How does an interim wallet have any bearing on the Blocknet's tech? It doesn't. If you don't like what we offer, don't buy it. It's as simple as that. We've been very clear what we have and what we don't yet have. |
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Hi synechist you doing great job on this thread keep up the hard work.
I want to know once everyone get nhz asset for blocknet tokens
When can we expect steady monthly income based on blocknet tokens example let's say if I have 2500 blocknet
What can I expect in return if I keep holding it.
Hey hey. Thanks. :-) The plan is to redeem BLOCK for NHZ assets once the tech is ready to deliver fees to asset-holders. If we do this, there shouldn't be any delay in receiving income. However income might not be large initially, as this will depend on how popular coins' services are. I expect Blocknet services to become more popular as they mature. |
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Great stuff. Really impressed with the BlockNet project.
Time will tell with this project. If the developments of XC reflects on this project, then I think there is a good chance of success.
I bought some BlockNet tokens last night to help round out my portfolio a bit.
Thanks! We're pretty excited about this. When the Blocknet launches it will benefit both the participating coins and all of crypto. |
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Staking is necessary to secure the network. If we would't stake, you'd be bitching about how unsecure this POS coin is.
It's a compromise to sell the tokens and generate some money to further develop the technology. If you don't believe or rather invest when the product is ready.. just buy in Q2 2015. Risk is the name of the game pal
The POS interest will be canceled by in some form when the BLOCKS are being exchanged for NHZ assets.
I think that the smartest way to do this, is to make sure that everyone stakes (most secure) and that the moment of exchanging for NHZ assets will caclulate the total amount of BLOCKS available and set a conversion rate based on that.
Let's see what the team has in mind about this
Dan has told me that we will destroy an amount of BLOCK equivalent to however much is staked. This will most likely be when BLOCK is redeemed for NHZ assets. But, can't people simply just take the extra staked coins and start trading them on the open market? Seems like quite the can of worms... How can you destroy them when they've been traded? We will not destroy the stakes people get. We'll destroy an amount equivalent to the stakes people get. |
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I've just been through the 208 BLOCK transactions on coingateway: https://coingateway.net/transactions.phpAt the top of that page it states that the total number of transaction is 687 with a total value of 317.1729 BTC and that's for all transactions, not just BLOCK, going back to 02/08/14. The 2,000,000 BLOCK is worth 500 BTC. The total BLOCK bought is showing as 1,327,039.93. As they hadn't paid the extra 10% with those transactions then that's a total of 1,459,743.92 meaning there's a difference of 540,256.08 not accounted for from the 2,000,000 they started with. NHZ was sold on Polo and XCash did not make it to coin gateway in time so it's shares are probably still held back until that is ready. Any answer to this? If funds have been held back for XCash to be included then that would mean there would need to be about 2,250,000 XCash (135BTC) to fill the remaining 540,256.08 BLOCK. There are only 2,400,000 XCash in total. Funds weren't held back for XCash. The 20% funds allocated to alts were, however, split between the NHZ pairing on Polo and the other coins on CoinGateway. We're working on the ITO figures and I hope to present them to you all pretty soon. |
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So the project needs 850 BTC to get all the features developed
It would be wise to leave all the remaining BTC to be held in escrow by the exchanges. These extra funds should be released only if the project would need more funding then the initial 850 BTC. If these funds are not needed exchanges might use em to support the price by putting up buywalls later. This will not allow the price to drop below ICO (who in the right mind would sell coins cheaper if there's a guarantee he/she will be able to sell em for ICO price)
Not to mention extra funds held in escrow would be an additional guarantee that dev is around and not abandoning the project
The entire amount, not just extra funds, will be escrowed and transparently spent. Check out the document on the OP. Click on the contents page, download it, and go to the "Accountability measures" section. I've red about it, but it isn't clear what person will be holding the funds? The entire dev team? I would trust bittrex to hold the funds in escrow Yes, we definitely won't leave the funds at Bittrex. We'll announce the details of whatever escrow plan we go for asap. The community will of course have opportunity to comment on our plan here, and maybe even improve on it. why not let bittrex hodl the funds? These guys are the most trusted people in entire crypto scene Personally I'd be happy with a multisig escrow deal with them. But as far as I know they don't do that. (I haven't been the person liaising with them directly though.) |
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lol synechist...I invested in your project and you are deleting my posts?
Yes. Your complaint generated an uninformative and emotive spat between a number of people (including you). I cleaned the thread of this as it was unhelpful and taxing to read. |
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So the project needs 850 BTC to get all the features developed
It would be wise to leave all the remaining BTC to be held in escrow by the exchanges. These extra funds should be released only if the project would need more funding then the initial 850 BTC. If these funds are not needed exchanges might use em to support the price by putting up buywalls later. This will not allow the price to drop below ICO (who in the right mind would sell coins cheaper if there's a guarantee he/she will be able to sell em for ICO price)
Not to mention extra funds held in escrow would be an additional guarantee that dev is around and not abandoning the project
The entire amount, not just extra funds, will be escrowed and transparently spent. Check out the document on the OP. Click on the contents page, download it, and go to the "Accountability measures" section. I've red about it, but it isn't clear what person will be holding the funds? The entire dev team? I would trust bittrex to hold the funds in escrow Yes, we definitely won't leave the funds at Bittrex. We'll announce the details of whatever escrow plan we go for asap. The community will of course have opportunity to comment on our plan here, and maybe even improve on it. |
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Apologies to everyone whose comments were deleted as a result of Moonchaser's squabbling.
Let's just keep the thread free of this if possible. It's very taxing for readers to wade through.
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@synechist
Please explain the relation between Blocks, Total stake weight and Network stake weight?
If you have in your wallet xxxx Blocks, how calculate the Total stake weight or Network stake weight?
Do it read this correct? After the ITO every Block have to change on NHZ Assets ?
Thanks
Stake weight and network weight are terms pertaining to how proof-of-stake works in general. You can read up on PoS on Wikipedia. Alternatively a good explanation is given here: http://agroff.github.io/posv/You'll redeem your BLOCK for NHZ assets when the Blocknet launches. This will be some time after the ITO. Read the OP. |
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I reallly miss MIkeMikeMike.
Me too. I wonder what he's up to these days. |
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Arlyn, whats the latest with the android wallet. I downloaded it but not sure what functions are ready for testing. How far away are we from release?
There's been one session of public testing so far. No doubt there'll be several sessions. I don't know how far away we are from release, but Dan said there are a few bugs still to be ironed out. I don't use Android, but as far as I know the wallet is fully functioning except for Xmixer mode. (Best to ask some testers though.) |
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So the project needs 850 BTC to get all the features developed
It would be wise to leave all the remaining BTC to be held in escrow by the exchanges. These extra funds should be released only if the project would need more funding then the initial 850 BTC. If these funds are not needed exchanges might use em to support the price by putting up buywalls later. This will not allow the price to drop below ICO (who in the right mind would sell coins cheaper if there's a guarantee he/she will be able to sell em for ICO price)
Not to mention extra funds held in escrow would be an additional guarantee that dev is around and not abandoning the project
The entire amount, not just extra funds, will be escrowed and transparently spent. Check out the document on the OP. Click on the contents page, download it, and go to the "Accountability measures" section. |
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thats how an ito should originally work. You buy in, wait out the ITO period, and only then get your bought shares. wtf is the problem with you lot?
Devs could have been more clear on this also.
Why was I able to withdraw from Polo? a glitch from the start, but a minor one. Relax and wait a year
of course..they fucked up big time..and people lost money. I support the project, but I'm not going to hide the fact that people lost money, including me, because of their ill prepared launch...period. How have you lost money? No funds have been lost. Nothing's gone amiss. What are you talking about? Why do I have to repeat myself since its so obvious ? Its all over the forums. Is not just me. By the time I got to buy from coingateway, I had already amassed sums of participating coins, the ones I support and others, in order to get the 10% discount and I only managed to buy a tinny part of block, before it was sold out. A very tinny part of the block was allocated to coingate. The rest of the coins I had, dropped in value because of the same reason, people were dumping because they were not able to buy with them but only with btc. You should have warned us several times in BIG BOLD LETTERS that only 20% of block is available for sale at coingateway, and more over, ONLY a certain amount of block was assigned to each coin, depending on each coin market cap !!! Second, even if you destroy the equal amount of the staked coins, my loooot of coins are hostages at trex, meaning I don't get to stake at all which equals lost. I said people lost money in the process of buying block...not because they invested in block. IMO it would be patronising of us to think that investors wouldn't do due diligence and *read the OP* before buying. The information was supplied clearly, and in advance. First come first serve. Don't blame us for not having done your homework. I think I'm done discussing this now. |
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thats how an ito should originally work. You buy in, wait out the ITO period, and only then get your bought shares. wtf is the problem with you lot?
Devs could have been more clear on this also.
Why was I able to withdraw from Polo? a glitch from the start, but a minor one. Relax and wait a year
of course..they fucked up big time..and people lost money. I support the project, but I'm not going to hide the fact that people lost money, including me, because of their ill prepared launch...period. How have you lost money? No funds have been lost. Nothing's gone amiss. What are you talking about? |
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Received my first stake already.  Which stake are you talking about? Yup...I got some stake also. BlockNet is a POS coin. How can it be a POS coin? thought the total number was set from the start and could not change you need something to move the blockchain. It should ether be POS or POW As stated everywhere, these are interim measures until the Blocknet tech launches. The Blocknet is not a coin. We're just using PoS wallets until BLOCK is redeemed for NHZ assets. And to repeat another statement, we'll burn an amount of BLOCK equivalent to however much is staked, probably once the asset exchange kicks in. |
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Uhm, you cannot make a withdrawal of your Blocknet Tokens from Bittrex? Or is it just me?
me too. I think it has to do with the 800 BTC they will claim. If not you get refunded. Pretty cool idea. Bittrex's Statement for the ITO Bittrex will be hosting the BlockNET ICO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required. * We will review the wallet before initially adding it. * Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ICO will value 2500 BTC across all exchanges. * The ICO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT * The ICO must raise 850 BTC total across all exchanges to be considered a success. * If success conditions are NOT met, all BTC invested will be refunded through a buy wall. * Once the ICO is over we will verify there is working wallet, blockchain, and block explorer. * ICO payment will be in a lump sum to BlockNet within 7 days after the ICO ends. * No trading of the coin will be allowed until the ICO ends and escrow is released. * ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ICO, you are agreeing to the above terms. I have read this statement. Where exactly does it say that you cannot withdraw your coins from the exchange? Somebody has an answer to this that actually helps? While others can already stake their Blocks, i cannot withdraw from Bittrex. Is Bittrex staking for themselve? It is not mentioned anywhere that Trex was to keep the coin and staking as I didn't see it mentioned anywhere, that ONLY 20% of the block will be sold for 10% discount using the participant coins, and also nobody mentioned that to each participant coin will be allocated a part of the block depending on the market cap of each coin. So this is just BS preparation for launch. People had to dump their participant coins because they found themselves with a lot of coins not being able to buy shit from coingate. Or they bought coins in order to get the 10% discount and then they had to sell them at lower prices. Just crap. that s fked up, i bought these tokens and i want them in my wallet to stake. synechist? Moonchaser, read the OP FAQ and also the ITO document (which is also in the OP). The info is all there. Sfc, if you bought on Bittrex you'll need to wait until the end of the ITO (max. one week) before you can withdraw and stake. At 3% per year, this won't amount to much. I'm an early supporter of XC and i totally love the blocknet idea. But this wasn t part of the deal. I bought these tokens so i should be able to withdraw them. If you or Dan could at least try to talk to Bittrex to unlock the wallet that would be fine as there is absulotely no reason they should keep them. These rules were agreed beforehand and posted on the OP and in the thread. Bittrex will definitely not change the rules now. You can withdraw them in a few days. It's not a big thing IMO. |
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