IOTA: know what a tangle means
Before putting a new cryptocurrency on our SuiQiu cryptocurrency exchange, it is our duty to understand what's really going on and where risks lie at its fundamental level. IOTA draws even more interest since an innovative concept - DAG (Directed acyclic graph) is implemented in its backbone, the tangle. Unfortunately, while investigating IOTA, we are convinced that this implementation is immature. The tangle and therefore IOTA have too much risk.

IOTA: know what a tangle means

As stated in IOTA's white paper, the tangle is the technology used as a backbone of IOTA. Like other tangles, this technology qualify as a messy mass of things. It is therefore inherently difficult to make sense out of it. Such efforts are admirable. Everyone should take a look at their white paper. On the other hand, pointing out some concerns and flaws are relatively easy. In this article, we shall see the tangle lacks incentive, privacy and security. We hope people will have a better idea what a tangle means by then as well as how to fix the tangle in the future.

Incentive

No transaction fee is the charm of IOTA. But, Who do NOT need to pay? Lazy nodes benefit actually. Who do not really verify another transaction, who just vote for transactions seems to be verified, who leaves the number of tips grow unlimitedly do NOT need to pay.

On the opposite, a good node will need to verify two transactions. Sounds like not a big deal? Think twice. Transactions are related to each other. For example, if we try to determine whether a transaction is conflicting we should check all the other transactions to see whether there is a transaction conflicting with this one. According to the white paper, a good node should use a MCMC (Markov Chain Monte Carlo) algorithm to select the two tips to verify to prevent a parasite chain attack; And runs the tip selection algorithm many times, for example 100 runs. That's just a start. We can tell tip selection algorithms will keep evolving and complicating things to prevent other attacks, if not failed to. After knowing what you are paying (make sure you do) let's say you still want to be a good node, just like miners verify other people's transactions in Bitcoin. But wait another second, do you still recall that IOTA do NOT reward you anything and other people do NOT pay you transaction fees?

As stated in the white paper, they do not impose any rule for choosing the transactions to approve. Hence, lazy nodes survive. Nevertheless, a network full of lazy nodes means unlimited forks, no efficiency, vulnerable to all kinds of attack. So, the last resort the white paper turns to is a reputation system, namely, ' If one particular node is "too lazy", it will be dropped by its neighbors.' This leads to the second topic.

Privacy

So, one should build up a good reputation by letting people know all the good transactions and verifications one made. Once you decide to use a new node for some privacy, the reputation gone. Then again, lazy nodes benefit.

Security

Let's start with an attack scenario to double spend target transaction T with T'.

1.T has been broadcasted.

2.A lot of micro-payments are broadcasted as a distraction from T.

3.Attackers vote for T' to out weight T.

Usually, attackers need 51% of network power to out race target T in a blockchain. However here, computing power are extremely distracted in the tangle. People just don't have to verify T. They can get caught by micro-payments which IOTA is proud of (without even try to draw a line between micro-payments and spamming). Or, they can be lazy. Then, when T' and T are getting close, good nodes will not approve both T' and T directly or indirectly since their reputation and their chance to get approved is on the stake. So, stay out of the dispute watching T' out weight T clearly, and then, approve T'.

Moreover, since IOTA has an asynchronous network, attackers can pre-prepare their PoW (Proof of Work). For example, they can solve the cryptographic puzzle as PoW in advance and wait for the "right time" to broadcast their transactions.

One cannot point out all the concerns in the tangle. But we shall at least ask : When can I confirm that I get the money? In Bitcoin, it is about 6 blocks after your transaction is included into a block, which means approximately 60 minutes. Not bad. Now, in the tangle, how long should I wait?

Well, this is a crucial question to our exchange. We cannot tell our clients that we have no idea when you can safely trade your IOTA; Plus the unsolved privacy issue; Plus the concerns that IOTA will be paralyzed by innocent lazy nodes. In conclusion, IOTA will not be traded on our SuiQiu cryptocurrency exchange.

Blockchain Researcher Yushi

yushi@chaobi.la

8/10/2017

ico will start 12:00 beijing time

www.chaobi.la

ulogos roadshow:Beijing Time 2nd July 2 pm, Shanghai Hongqiao business zone, Hongqiao skyway, Racing Restaurant

update

Dear translators:
 We have an introducer commission plan , that investments via the invitation code of yours will bring you 5 % commission. The precondition for this is you pass our test that ensures you understand our project. Then you can put your invitation code in your translation.
Thanks.

                                                                      Ulogos White Paper

Description
Ulogos is a breakthrough advertising model, Ulogos Token is the discount present value right of all future ads.

Business Model
Price fluctuation is the future direction of the advertising industry. Traditional advertising model is to pay for the attention of the populace. But with the ascent of mobile web with WeChat as example, the populace's attention has once-and-for-all been rendered captive, and traditional forms of advertising are facing enfeeblement. During this late stage of internet industry, the focal point of the battle will shift from number-of-users to the minutes-of-time of attention spent per user. WeChat, having placed the larger part of the user's time under occupation, has made it hard to conduct advertising on a large scale any longer. The only mechanism at this point which can conduct an effective struggle against WeChat are price fluctuation charts, which constitute the advertising industry's new, and sole remaining channel.

Token is the future channel of advertisements
To deliver advertisements through price fluctuations, assigning prices to the reputations of brand names themselves is needed. This was a feature commonly provided by stock markets, but first of all, only companies of a large enough scale have been afforded an opportunity of entering the stock market, and second, there has not existed a global stock market, and third, the stock market deals in company names, not brand names. Token offers a blockchain commodity representing brand names and a global, 24 hour exchange. Advertisers market themselves via buying-back the Token denomination corresponding to their brand name, an action which will increase that Token prices, thereby effectively leading to self-promotion. At the same time, Token and coinday will become important channels for user interaction.

Token priced should never be manipulated, so a snapshot balance inheriting mechanism is introduced.
If majority of a specific Token is controlled by it’s brand owner, then the latter can manipulate price surge with a very tiny cost, this will finally destroy the whole Ulogos advertising mechanism. So, a fair issuing mechanism must be introduced, so as to ensure the dispersity of Token, thus the only way to push up the price is to put in  hard cash. A lesson learnt form the hard fork of Eth and ETC, snapshot balance inheriting is a very effect way to avoid price manipulation.

The ICO target Ulogos Token is the Mother Token for all Tokens
In the future , the issuance of all brand-related Tokens will inherit a snapshot balance from Ulogos Token. So, holding Ulogos Token means holding a corresponding amount of ALL Token issued in the FUTURE.Technical Roadmap Why Ulogos Blockchain is needed Issuing tokens with smart contracts is a better way compared to building a new blockchain. But it’s a pity that Ethereum blockchain is defined as the universal platform for smart contracts, so enormous smart contracts will run on Ethereum. Because more enormous smart contracts will be published for advertisement in our system, they should not be crowded with all other smart contracts in Ethereum. So a new blockchain should be built dedicated for this project, and this blockchain will be based on Ethereum technology with some customized optimizations.

Ulogos Token smart contracts
Ulogos Token smart contracts consist of two parts, the first being the transaction feature, and the second, the template of a smart contract, which will generate the resultant smart contract for a particular brand, at the same time issuing Token by inheriting the snapshot balance of Ulogos Token .

ICO Plan
Issuing plan for Ulogos Token:

BTC award    16,500,000   Bitcoin blockchain snapshot height：480000
                                  1Ulogos Token is awarded to 1 BTC
ICO          4,500,000   See below
Total         21,000,000


Issuing plan for Ulogos Ether:
Ulogos ether is the currency on Ulogos blockchain to pay transaction fees.

ETH award     84,000,000aprox     Ethereum blockchain snapshot height:1919999
                      1 Ulogos Ether is awarded to 1 Eth
 
ICO   award   90,000,000       20 Ulogos Ethers are awarded to 1 Ulogos Token Icoed
Total         174,000,000 aprox


Token ICO Auction Method
Total ICO quantity:4,500,000 Token
Auction method: one-bid total value bidding
Total value bidding limit: unlimited
ICO time period：7 days (not started yet)
Currency accepted：BTC

An Auction Example:
             Total value limit bid    Investment value
    Person A    3000 BTC        500 BTC  
    Person B    2100 BTC        800 BTC  
    Person C    1800 BTC        200 BTC  ICO closed at 1500BTC
    -----------------------------------------------------------------------------------
    Person D    1500 BTC        1 BTC    These bids are out
    Person E    1000 BTC        100 BTC  
    Person F    800 BTC         10 BTC  
    Person G    500 BTC          5 BTC  
    Person H    300 BTC          10 BTC  



Usage for ICO income
The development and marketing for Ulogos Blockchain

ICO Cooperating website
chaobi.la


web
www.ulogos.com









描述
ULOGOS 是基于区块链的品牌商业模式，Token 是未来所有品牌价值的贴现

ULOGOS商业模式
传统广告模式是花钱购买观众的时间。以微信为代表的移动互联网，彻底吸引走了大众的注意力，传统广告模式面临失效。随着互联网进入下半场，争夺的焦点从用户数转向了用户的时间。微信占用走了绝大部分用户时间，但是在微信上很难大规模发布广告。唯一能够与微信竞争时间的应用，就是价格走势。
 
通过Token发布广告
任何品牌都可以利用价格波动发布广告。广告发布者购买自己品牌Token并注销，品牌Token价格上升，吸引大众的注意力，从而使价格转化为营销。
同时,品牌token还有很多其它的使用价值:Token的COINDAY还是用户群差异化管理的途径
  

Token的快照继承机制
如果一个品牌持有人持有品牌Token的大部分比例，则有机会操纵行情导致广告机制失效。要有公平的Token发行机制，确保Token足够分散化，广告发布者必须要投入真金白银才能推动它上涨。借鉴eth和etc的分叉方式，通过快照继承机制是一种避免价格操纵的方法
比特币是全球用户数最多的虚拟币,有200多万个用户,而且持币量清晰可查,最适合做为快照继承的对象

本次ICO的是全球所有品牌的Token
未来所有的具体品牌Token，都将从ULOGOS Token继承一份余额快照来发行。因而，持有ULOGOS Token，即意味着将持有未来所有新发行的Token

技术路线
为什么要创建Ulogos Blockchain
由于全球有万计的品牌需要发布要发行Token智能合约，因此不适合与其它类型智能合约共同拥挤在同一个区块链上，因此本项目单独建一个区块链，本区块链是基于ETHEREUM技术，做一些针对性的优化

ULOGOS Token 智能合约
Ulogos Token 智能合约有两部分构成，第一部分是Ulogos Token的转帐功能，第二部分是一个合约模板，调用此模板可以生成独立品牌Token的智能合约，同时继承Ulogos Token 的余额快照

ICO方案
Ulogos的Token发行机制

比特币赠送 : 1650万个    比特币快照区块高度：480000(1:1赠送给比特币持有者)
        
         ICO : 450万个(ICO机制见后)

          合计:2100万个

ulogos ether的发行机制：

以太坊赠送   约8400万        以太坊快照区块高度ETHEREUM 1919999(1:1赠送给以太坊持有者)
  
ICO赠送   9000万         ICO的Ulogos Token1:20赠送

合计      约17400万



ULOGOS TOKEN ICO 拍卖指南

募集资金上限：无
时间：7天
接受货币：BTC
保证金比例：10%

举例：

          市值上限     投资额
    小张 3000 BTC  投500 BTC  
    小明 2100 BTC  投800 BTC
    小李 1800 BTC  投200 BTC                            ICO 募集1500 BTC结束
    ------------------------------------------------------------------------
    小吴 1500 BTC  投 1 BTC                                   以下未投中
    小赵 1000 BTC  投100 BTC
    小韩 800  BTC  投 10 BTC
    小薛 500  BTC  投 5 BTC
    小甄 300  BTC  投 10 BTC





资金用途
ULOGOS 基金会开发和推广

ICO 指定
Chaobi.la

官方网站
WWW.ULOGOS.COM

                 Please look at the other "Ulogos" post ,thanks !

 If my margin reserved: 100 BTC , leverage 1:5
 how many btc can i margin buy?

sorry,i dont understand, can you tell me why Margin reserved: 0 directly?

I saw:

days   rate           amount
21      39.99%      usd1495

21 days rate is  39.99/365 x 21 = 2.3% ?

I borrowed usd20.2 in my account, but margin receive:0 ,can you tell me why?

Anybody tell me  how can find the cgminer random functions interface?
i want to use my QRNG

Security question:
print BTC on paper means nobody can attack and got btc?

borrow usd rate is very high 90%-3300%, i can not open long p.

if i borrow 100 BTC after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?

Hi,

I am looking for help.a minning programming use IDQ QRNG(quantum random number).It's support LUNIX. www.idquantique.com
quantum random can do 3 level things,

Level 1
is computing known.like bitcoin key

Level 2
is computing unknown(future).if level 1 is ok,then start level 2


Background

The Princeton Engineering Anomalies Research laboratory explored the behavior of REG-driven robots under the influence of consciousness for many years (1). In lab conditions, the results were similar to other human-machine experiments: the devices behaved unusually, with statistical significance, in the direction of intent.

Separate studies by French scholar René Peoc’h suggested the same, yet rather than using human operators, Peoc’h used baby chicks (2).  A randomly-driven robot was set up in a confined area, and it's movement was tracked and found to be consistent with expectations of random motion.  Then the robot was introduced to motherless baby chicks, and "socialized" in a way known to cause psychological attachment.  The robot was put back in the confined space and left to move around freely, yet this time, the baby chicks were situated in a cage next to the robot.  After tracking the movement of the robot, they found that it clustered around wherever the chicks were, even to a statistically significant extent.  The suggestion was that the baby chicks had influenced the random motion of the robot attempting to bring it near, just as the human operators had influenced the PEAR robot. http://www.psyleron.com

http://noosphere.princeton.edu
When human consciousness becomes coherent and synchronized, the behavior of random systems may change.  

if i borrow BTC 60 days and then opend a long position.if btc price grow,but 60 days later this position will be closed auto?
I had to borrow again and buy again? Now Maximum lending time (days) is 60 days, the rate is 10%. if i borrow 100 BTC
after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?

position question:
if want to open long you had to borrow cash
if want to open short you had to borrow btc

and now i want to open long, but cash rate is very high 30 days rate is 1854%
it means i cannot open long position.


Security question:
print BTC on paper means nobody can attack and got btc?

if i open a long position more than 1 years
and i had to borrow BTC, should i choice
fixed rate? variable Interest Rate only for
the people who opend position daily trading?

if i want to margin buy,what show i do?
first go to the lending web,then borrow btc or usd cash(low rate)
then margin buy?

Margin reserved: 0.0 BTC Margin available: 175.2 BTC at 5.13%/day

What does it mean? if i send 100btc, but 100btc, had to pay
5.13BTC per day? after 20 days, my 100btc=0 ?

Can you add weekly mouthly chart in you web?