@ coins101 and/or KarmaShark
I was not in the AMA so not sure if this was asked.
About the snap shot. Are only coins in local wallet counted?
Basically what I mean is if coins are on an exchange will we have to pull them out and put them in our local wallet or will you exchange one for one with coins on say BitTrex and then it will be up to BitTrex to distribute the coins?
It is but natural to hold your SPR to your wallet. It is the only way to hold your relationship with the stake via SPR address. Addresses are unique and reside on the blockchain so you must keep your coins to local wallet. We are in discussions with Bittrex to help assist. If they are in agreement then users will be able to hold their SPR in their Bittrex controlled address / wallet. Bittrex would be acting as the third party here, crediting the addresses it holds in their wallet. If you have your SPR in a wallet you control then the entire redemption process will run through you, opposed to a third party in Bittrex. Friendly reminder to come join the Helium Slack channel, which is by far the best place to find out information and become involved: https://heliumslack.herokuapp.com/Thanks for the response. Just to be clear. As noted in the AMA we are not supporting SPR held on Yobit. If you have coins there, we will not be giving any Helium coins to Yobit exchange and so you will need to be in control of any SPR funds held there. |
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Dear all,
Our developer team have absolutely no relationship with "vtorrent.info"
However, we are happy to work with the owner of that website to have them publish the accurate and up-to-date information of our project progress.
Regards,
vTorrent
Thank you for sharing this information. Could you also disclose whether you have any relationship with @AgentSoft on twitter? https://www.twitter.com/agentsoftHe made a draft of a press release where he wrote "... vtorrent can be downloaded from vtorrent.info". People will look at it like it's official website, this info will be spread amongst thousands of people. This is very dangerous situation if he is not a part of the dev team. He can put some malware or trojan into the wallet and steal people's coins. You've made a valid point. But it looks like all the links point to the official repo. I've read the press release. It's labelled at version 5. It also reads reasonably well. For people not familiar with doing this sort of thing, I think a real lot of effort went into it and the links indicate that somewhere between $300 to $600 was going to be spent on getting the PR through the news wire services. That really is a lot of effort and cost. It doesn't smell like its intended to be malicious. I think what we've done is basically said that no one should try to help. Don't even bother. Not a great position to be in, imo. I've got a project to run, but I'm keeping a close eye on progress here. |
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The biggest issue I see with starting off with ASIC mining would be the illusion of centralized mining- as the ability to create the mining hardware would be in the hands of a central group. That argument would be fuel for many individuals.
If Helium reached an appropriate valuation, we could see the entry of larger and specialized ASIC companies into the scene. What's to stop them from developing a much more effective chip? The main strategy I see towards a decentralized mining network would be to deploy an algorithm that is memory intensive- or any specification that renders ASICs obsolete. An algorithm that is GPU friendly would be much more viable as it allows everyone in on the game from the start. The network would be truly decentralized, with no group with the "key" to mining in the beginning.
If you want to select an algorithm that is both GPU and ASIC friendly, X11 would definitely be viable. ASICs hashing X11 were released last year by small manufacturers, and the hardware is already spread amongst many miners.
We're not starting off with ASICs. They take time and money to build. We'll have lots of discussions on this, I'm sure. Pitch in on slack when those discussions start to pick-up steam. One thing is for sure if we build them - no scams. |
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dev you really are the worst dev in all of crypto.
Annoying as fuck the way you blank everyone. What the fuck is wrong with you?
Do you suffer from some sort of mental disorder?
From history, do you honestly believe that insulting and cursing the dev is going to elicit any response? Do you think that bullying will speed up wallet development? Are you so impatient that you can't wait for it to be properly developed and released? Do you need the dev to constantly remind you that everything will be okay? Failing at that, are you really that married to this coin that you can't walk away? Do you suffer from some sort of mental disorder? Agreed - No need to antagonize. @Dev we need to know if vtorrent.info is legit - is it related to this project or not? I think if you can confirm this, then everyone will be much more understanding of your lack of communication on anything non tech related. I don't get the need to know everything. If there is a new website, so who cares who created it? Do you like it? Does it provide some help with getting listed on polo? It wasn't that long ago that people wanted a website, now we've got one. Reading slack, I think that Leigh2k14 is pissed at PIVX, sounds like he had 300,000 PIVX coins and sold up for pennies, compared to selling up with life changing sums. So I can understand his frustrations, considering he has also been around here from pretty much the start. Well it makes a crap ton of difference who's behind it as it refers to Transmission and there is also a PRESS button, which was kind of referenced by @AgentSoft as he mentioned Coindesk. It's either officially related to this project (which is great!) or a mega troll website (which is less than ideal). IMO kind of important. Well we'll soon find out if the devs are running Transmission or not. I think they are. There are only a few options for a standard open source bittorrent build, most of them involve libtorrents which are open source libraries and transmission uses them. Transmission also has the benefit of recently adding support for Windows, so if the dev's bittorrent description in the OP is correct - they are running a bittorrent 'manager' - then Transmission is the obvious open source choice if they have any savvy about them, which they obviously do. Is Bitcoin.com run by Satoshi? Does it really make that much of a difference? |
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dev you really are the worst dev in all of crypto.
Annoying as fuck the way you blank everyone. What the fuck is wrong with you?
Do you suffer from some sort of mental disorder?
From history, do you honestly believe that insulting and cursing the dev is going to elicit any response? Do you think that bullying will speed up wallet development? Are you so impatient that you can't wait for it to be properly developed and released? Do you need the dev to constantly remind you that everything will be okay? Failing at that, are you really that married to this coin that you can't walk away? Do you suffer from some sort of mental disorder? Agreed - No need to antagonize. @Dev we need to know if vtorrent.info is legit - is it related to this project or not? I think if you can confirm this, then everyone will be much more understanding of your lack of communication on anything non tech related. I don't get the need to know everything. If there is a new website, so who cares who created it? Do you like it? Does it provide some help with getting listed on polo? It wasn't that long ago that people wanted a website, now we've got one. Reading slack, I think that Leigh2k14 is pissed at PIVX, sounds like he had 300,000 PIVX coins and sold up for pennies, compared to selling up with life changing sums. So I can understand his frustrations, considering he has also been around here from pretty much the start. |
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So guys, is there any news regwrding the pow algo characteristics? Will it be cpu, vga or asic territory?
It've been stated that spreadx11 won't be used, do you confirm?
Thanks
We have not decided upon a hash yet, that is coming along. In terms of mining, we are looking into the possibility of creating our own ASIC's to support the network, so we are likely to be CPU / GPU / ASIC friendly. My advice would be to pick a GPU friendly algorithm (NIST5 or something) and let the free market take care of developing the ASICs once it is economically viable. An army of GPUs is sustaining the network of ETH and it's 4.5 billion USD marketcap. There are plenty of hashes to go around to support HLM's network. Worrying about designing custom ASICs is putting the cart before the horse. Focus on improving the core protocol and implementing new technology first. If HLM can break (and sustain) a 100 million USD+ marketcap, then worry about ASICs. I missed the AMA unfortunately. Gonna read through it and give you guys my thoughts on anything that was said (whether you like it or not!  ) sometime in the next few days. The current free market approach doesn't work. We've got Bitcoin to demonstrate that. Look at the Core vs. Bitman position, for example. If you want a secure network you need a large hash rate, but it has to be distributed. We're looking at how we can influence decentralization through releasing cheap ASICs and possibly limiting distribution on a regional basis to prevent small groups buying up large quantities. We've got a lot of smart people that have expertise in this area, so it will be interesting to see how the plans evolve. But the one consistent issue with ASICs is that they take time to design. So it is worth starting the process sooner rather than later - I don't think that's putting the cart before the horse, it's planning ahead. We could have another unique feature that improves the security of the network, just by giving miners cheap miners they can buy, which are also cheap to run. |
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@devs
Riot could run on Master Nodes (as pointed out in Slack).
PIVX has a PoS master node set-up.
Please show a pic or video of torrent features, then people will probably be ok with having master nodes added.
So, what advantage would there be having master nodes on the network? We already have anonymity via ring signatures and built-in chat. When you use the current chat feature available now, it only keeps your chats for a small period of time i believe. That's because when you chat you broadcast the message to the network but only those who have the public private key pair can open and read a message. Those messages don't get stored in the blockchain. They go to a local folder on everyones machine. So that's why you don't want to keep all messages. Our local folder would fill up. If Riot is introduced as an iFrame, the Matrix network stores the chat histories on their servers. However, if you create Riot to run exclusively on the vTorrent network where do you store all those running conversations? Your local folder already needs space for the vTorrent client, the chat logs and also room for torrent files. So if you run Masternodes, they are servers that run on the network. Which means they can both run the Riot network and also store all the running chats. Someone somewhere needs to be running Riot and storing all the information it generates. |
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@devs
Riot could run on Master Nodes (as pointed out in Slack).
PIVX has a PoS master node set-up.
Please show a pic or video of torrent features, then people will probably be ok with having master nodes added.
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Like I said, not rushing into anything.
So I've thought about this for a while now and I think its worth giving it a go. I have spent quite a lot of the past two years actively trying to pursue some ideas around Service Nodes and I think some of those ideas are probably not that aligned with where Spreadcoin is heading. Two years is a long time. Which is why I don't want to start again from scratch or do an ICO. The stuff I've been doing around here for a while is still valid, it's just not where the Spreadcoin Core is going - hence a fork of sorts. There is an existing white paper branded for the benefit of SPR which is still in draft. I'll probably tidy that up a little and make use of it elsewhere. There is a new white paper which hasn't been made public yet. I need to change some things on that and then it will get released. There is a third white paper due, but it is likely to be put on the back burner until a patent is written and submitted. These things are about the direction I'm really keen to follow. That direction is more focused around service nodes that pay a coupon; give people a way to earn a living from providing services through the second layer; and ultimately about potential ways to generate dividends. I come from that type of mindset that dividends can be productive to society if done ethically, such as providing incomes for pensions. So the concept of an economic fork is where I think things will go. People will get to claim whatever stake they have in Spreadcoin in a new coin called HLM (full name to be released in due course after setting up github and a website). Everyone will be given plenty of notice about being able to claim their new coins and we won't be short changing anyone. So if you claim your HLM's you'll have Spreadcoin's and HLM coins in equal measure. It won't be some five minute process either. People that pop in once a year will still find they can redeem their HLM's. HLM is going to be a DASH fork. So it's easier to use an escrow to redeem coins than try to create some fancy automated process. Only you and the escrow will know your coin holdings - so please take into account an escrow fee. We will need to cover off people that fancy chancing their luck and claiming and claiming and claiming using the same set of coins. I look forward to keeping my Spreadcoins and seeing them grow in value over the years to come. The Spreadcoin project is in great hands. I've always supported Georgem and given the amount of time he has spent gaining knowledge about the Bitcoin codebase this project will continue to do well over the long-term. But I think my priorities are in areas of development that probably don't fit very well with where I thought SPR might have been going. So, it's not good bye but simply see ya around. GO SPREADCOIN! Hopefully this helps to explain the current proposals on the economic fork.  Details and alternative options still being reviewed. bump for some of the new faces I've noticed investing in Spreadcoin because they want to also get into Helium |
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Hopefully this explains the current proposals for the economic fork: Details and alternative options are still being reviewed. bump |
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..Nonetheless, I have thrown some change at a few VTR tokens anyways. Good luck to us!
 Cool, got to use that twice in one day.Challenge is good. Less of the 'doomed' thing and more of the: Devs, do it like this, or why don't you think about doing that. |
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There will be an AMA next Saturday, April 15th in the Helium Slack channel (time to be confirmed and updated here soon). This will be a chance for us to give some important updates on the project and answer questions from the community. In related news, we have surpassed 100 Slack members. Given how fast we reached this number with the minimal exposure and marketing Helium has to date, is impressive. There is a well planned out campaign for marketing, advertising and general industry awareness that is being worked on behind the scenes. As Helium comes closer to launch, the efforts of the campaign will take shape. Feel free to join the Helium Slack channel and spread the word: There is a new Sheriff in town https://heliumslack.herokuapp.com/Everyone is welcome (read: there will be some things we might need to keep from competitors). Looking forward to chatting with everyone next week. |
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.. Either way, this project is doomed.
This is why you are right: The internet is free and it is used by 5bn people. This is why you are wrong: > People pay to use the internet through broadband charges and mobile data plans. > Why would anyone need Bitcoin which charges fees (you typically need to allow 10%-15% by the time you've gone through the various exchange processes) when you can use a bank account for free? > Why does Netflix exist and as a single company is worth 3 x the total value of Bitcoin? On paper, Netflix should not be able to compete or even exist because of Kodi which you can download for free and get more content. Somewhere between zero cost and high cost, there are 5 billion internet users who give value to different business models. If you were 100% right in your conclusion, Bitttorrent would not have 150m to 250m users. It would have 5bn users; and Netflix would not exist. This has never been done before. Even if it were not 100% on target on its mission, it can be tweaked to gain a substantial users base - a user base that could be bigger than Bitcoin's user base. Doomed? I've been around long enough to know people with 10,000BTC just say it's worth a punt and throw 100BTC at a project after just 5 minutes of thinking about whether it could have merit. And I've also seen people who spend weeks thinking about investing in a project, speaking to as many people as they can; only to say - yeah, I'll probably throw $100 at it. VC's use a scatter gun approach for a reason. Despite their highly intelligent researchers, in the end, they have no idea if an idea will work or not. If you're such an oracle, you should go work for a VC, you'll make millions. Then come back in 12 months and we'll compare notes on whose made the better investment. |
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I explained how I think it will work several pages back.
You set your own price for bandwidth.
$Zero to $1m
...
There was a discussion about it at the end of last year when the devs gave everyone an opportunity to have their say.
My main request was to trickle back payments to the original seeder to avoid a race to zero situation.
You also get the benefit of royalty payments going back to content creators, which encourages them to create more.
You see this on eBay where people find open source software, spend time marketing it and pretty quickly they end up selling stuff to other sellers and then everyone competes with each other on price. The originator of the whole thing gets priced out and they hardly ever recover their sweat capital.
So trickle down payments - The seeder of a file does it once and then as others help with seeding a swarm and they get a cut; but the originator is basically getting a cut from everyone, even a diminishing rate when multiplied up becomes a lot.
That all makes sense to me. That is similar to how curator payments work in Steem. The first person to upvote something gets the lionshare of the curator payment for any certain post. This provides incentive for people to spend time curating, and being the first to upvote valuable content. I guess in vTorrent it would provide incentive for people to seed a torrent that might have otherwise eventually gone unseeded. I like your idea of making sure content creators get a cut too. In the legacy BitTorrent ecosystem, they do a lot of work for little to no pay, so it would be good to reward them. Trust ratings should play a big part in this. It's a feature I'd like to see added to weed out crap. If people are paying for stuff, it's got to be from trusted sources. I like the whole user rating model, if there are enough users doing the self policing. Should be some financial incentives from becoming an established trusted rater. Price should reflect how many trusted ratings you've made and the overall quality of all ratings. |
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Can someone link me to how the economics are planned to work (as far as the incentives to reward uploaders and seeders)?
I am worried that it may be similar to STEEM's economic model, which is proving to be unsustainable.
Also, the 5% PoS inflation must be considered by those that are invested in too many coins and do not want to go through the trouble of staking (read: me).
If there is anyway to make this economic model deflationary, then I highly suggest it. It is a no-brainer to invest in a deflationary cryptocurrency that has utility.
vTorrent is an interesting/exciting concept nonetheless.
I'm going to guess that a small percentage (1-3%) will be lost to transaction errors and abandon wallets leading to an actual lower inflation rate. I feel the maximum total supply of 20MM coins has a greater bearing on the price than does annual inflation rate. Also, if this project actually works, there is already an established network of users who would benefit greatly from the unique features offered by vtorrent. This should create utility and massive demand for VTR. I would expect participation rate to grow much higher than 5%/year. As a final note, making it a deflationary token might stifle its usage, as it is meant to incentivize sharing within the network rather than be a store of value like bitcoin. Yes, coins like Steem are vulnerable to hyperinflation (+100%) without massive uptake. I'm not convinced it wasn't a scam right from the beginning. Steem has only ~10% annual inflation (from memory) if your STEEM are powered up, which most are powered up. 3% PoS inflation combined with 1% to 3% uploader/seeder inflation incentive may be too much. It seems I will have to stake this coin if I get involved to lower that to 1% to 3%. But, your answer is just a guess... it is really weird to me that no one seems to know how the uploader/seeder incentives will work. To be honest, it is quite worrisome to me as a potential investor. I explained how I think it will work several pages back. You set your own price for bandwidth. $Zero to $1m  There was a discussion about it at the end of last year when the devs gave everyone an opportunity to have their say. My main request was to trickle back payments to the original seeder to avoid a race to zero situation. You also get the benefit of royalty payments going back to content creators, which encourages them to create more. You see this on eBay where people find open source software, spend time marketing it and pretty quickly they end up selling stuff to other sellers and then everyone competes with each other on price. The originator of the whole thing gets priced out and they hardly ever recover their sweat capital. So trickle down payments - The seeder of a file does it once and then as others help with seeding a swarm and they get a cut; but the originator is basically getting a cut from everyone, even a diminishing rate when multiplied up becomes a lot. |
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...  .. Regards, vTorrent @Dev I just noticed that your post from a while back, Bittorrent is shown working in your screengrab in the background:  Why not just show the rest or a video? And That bittorrent-delegate.cpp is a qt to crypto qt rename  |
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Looking to create a bounty for Key Management (HD Wallet back-up) video. Anyone interested? I have already asked @e1ghtspace and waiting for his reply.
Did you PM me? I haven't received a message from you regarding vTorrent since January 21st.  ...Oh I just checked the slack channel. I have made this video already: https://m.youtube.com/watch?v=miGYVskqjykIs this what you meant by Key Management? I have school holidays right now so I can make videos all day. So I am able to make a video for the "new" wallet, or whatever the developer is referring to. Actually not that type of back-up. Backup and restore using the seed words, the hierarchical deterministic or HD process. We can raise this issue again when the new client with BitTorrent or whatever were going to see is released. |
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Looking to create a bounty for Key Management (HD Wallet back-up) video. Anyone interested? I have already asked @e1ghtspace and waiting for his reply.
Dear coins101, You might want to wait a little for the new wallet for that. It is somewhat different from client version 0.8.1. Regards, vTorrent I was just about to pay someone to re-do the video on setting up the vtorrent.conf (I think e1ghtspace is doing exams) Should we wait and put a bounty together to re-do all the videos? |
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Looking to create a bounty for Key Management (HD Wallet back-up) video. Anyone interested? I have already asked @e1ghtspace and waiting for his reply.
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