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Alternate cryptocurrencies / Altcoin Discussion / Re: Etherum Fees Double In a Week As DeFi Heats Up
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on: September 21, 2020, 04:48:14 AM
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This was possible because of the increasing market value of ethereum coin. I think this could be annoying in the part of crypto day traders, maybe ethereum gas fee could settle down in the long run after some altcoins also shining in the market like UNI coin. We just hope for the good development of ethereum coin since it is potentially capable for a good investment anytime.
UNI is a token, not a coin and certainly not an altcoin. coins : https://coinmarketcap.com/coins/tokens : https://coinmarketcap.com/tokens/I hope you understand the difference between token projects and altcoin projects / coin projects. Token projects are dependent on one specific blockchain (mostly Ethereum) over which they don't have any direct control and have a centralized single point of failure (high fees), because that blockchain does not scale. Altcoin projects / coin projects each have their own blockchain (over which they have full control), their own fee structure and their own network security. Ethereum : coin / altcoin UNI : token |
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463
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Alternate cryptocurrencies / Altcoin Discussion / Re: ETH's fees on "De-Fi" platforms are ridiculously high
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on: September 17, 2020, 01:08:52 PM
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Ethereum’s Pending Transactions Jump 30% After Uniswap’s Token Claim Beginshttps://www.coindesk.com/ethereum-transactions-surge-uniswap-tokenThe increasing number of transactions sent to the UNI smart contract appears to have led to a surge of the gas fee on the Ethereum network, which Uniswap’s protocol is built on.
The current average gas fee on Ethereum has reached 650 Gwei, compared to the average 152 Gwei on Wednesday UTC time, based on Etherscan’s data.
In fact, the UNI token’s smart contract address is now ranking the 3rd in terms of the overall transaction fees in the past three hours, with a total of 534 ETH worth over $200,000 as of writing,
according to Etherscan. Not exactly a surprise by now. It is also a clear signal that DeFi is not slowing down on Ethereum network, and neither are the fees.
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467
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
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on: September 15, 2020, 09:05:29 AM
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If we want to reach page 10,000 before this year ends, we do need him .. i'm afraid. Sorry. Mickey Series 300 : please tell me we see more of your HAHAHAHAHAHAHA laughs in this thread ? We need you man !! For the laughs !! (and the bumps) Shameful trolling by Dahaa. Does this thread really need posts from a good for nothing attention-seeking troll such as Dahaa? No One day you just might have something positive to say about Dash rather than spread misinformation  I am very sorry for the people who believed these scammers. Sell this shit while it's worth something What kind of misinformation? Better you idiot open your eyes! |
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469
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
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on: September 14, 2020, 11:47:17 PM
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Anyways, I think DOGE actually illustrates very well my point of what a large circulating supply can do. DOGE has never offered anything new technologically to the crypto space and yet has held its value relatively well and is still in the top 50 on coinmarketcap. Doge does not have a masternode network to pay for. You don't need to look any further than that to see why they're so close to us in marketcap. It's nothing to do with how they denominate their coin supply. Dash : 730M marketcap Dogecoin : 351M marketcap Not exactly close to us in marketcap. Something tells me that distance in marketcap between Dash and Dogecoin will only grow larger, with the TikTok hype surrounding Dogecoin gone. |
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472
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Alternate cryptocurrencies / Altcoin Discussion / Re: CipherTrace claims to be able to trace Monero Transactions
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on: September 13, 2020, 08:19:36 PM
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They only used Monero to advertise themselve and if the tools they asserted can trace Monero transactions. Why would the United States Internal Revenue Service (IRS) offer $625,000 bounty to anyone or groups that can develop another tool that can track illegal cryptocurrency transactions and people avoiding tax through Monero? Indeed Wondering if this Cipher team will apply for the bounty offered by the IRS to crack monero. That's a huge money and a very attractive reward. Because if they are confident about their tool, they can always claim the bounty, right?
I would be overly surprised if they'd do that. I also advise you find better sources for your news, I would not trust anything coming from bitcoin-dot-com website. Here you go : https://cointelegraph.com/news/the-irs-offers-a-625-000-bounty-to-anyone-who-can-break-monero-and-lightningTo get back to OP topic : I do wonder why the US Department of Homeland Security would take a tracing tool into contract (meaning they pay for it), if such tracing tool is supposedly not.. working  To me it seems more likely that it does work, to a certain degree. According to Jevans, the tool, which has been in development for over a year, will be used by the U.S. Department of Homeland Security to trace Monero transactions. He noted that CipherTrace’s recent contract with DHS Science & Technology Directorate resulted in the development of forensic tools for law enforcement and government agencies to trace Monero transaction flows for criminal investigations:
“The tools include transaction search, exploration and visualization tools for Monero transaction flows that have been integrated with CipherTrace’s inspector financial investigations product.” Source : https://cointelegraph.com/news/ciphertrace-develops-monero-tracing-tool-to-aid-us-dhs-investigationsI suspect US exchanges will put a lot of accounts on hold. Acounts who get flagged by this tracing tool, resulting in these exchanges asking users for additional information before allowing them to withdrawal. |
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473
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Alternate cryptocurrencies / Altcoin Discussion / Re: ETH's fees on "De-Fi" platforms are ridiculously high
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on: September 13, 2020, 10:00:32 AM
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In general, the trend of investing in DeFi projects is attracting a lot of big investors, so the $100 fee is probably a small thing for them.
Also, those coins are very easy to increase in price and can be x2 or x3 in just a short time so that is enough for them to make a huge profit. I hope that Ethereum 2.0 will fix this problem soon as the high gas fees also make me feel very uncomfortable when trading.
This is like the shittiest justification I have seen. As far as I know, a majority of those who invest in the DeFi projects are small and medium sized investors. Do you want to limit the DeFi projects just for the uber-rich? And also, what makes you think that the rich may not complain about the ultra-high transaction fee? And do you guarantee that the coins will go up by 2x or 3x, as you have written. In such case people would not bother much about the fee. Seriously, some of the newbs in this forum seems to be suffering from "foot in mouth disease". Actually i agree with diskodasa. I also think this will trap small investors already invested in DeFi projects because of too high DeFi fees, and if DeFi volume / transactions keeps increasing on Ethereum network then only large investors can afford to use it as these DeFi fees are still small costs too them. Also shady developers of shady token projects will have zero problem with paying a $100 DeFi fee, to exit-scam their project. Small traders / investors users on the other hand will start switching to other platforms / other cryptocurrencies. DeFi fees seem to rise exponentially and should not be confused with gas fee. I would not be surprised to see DeFi fees increase with a factor of 2 or 3, if DeFi volume keeps getting higher. |
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475
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
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on: September 11, 2020, 06:57:30 PM
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Okay, i got more information from Rion about re-denomination for Dash : Re-denomination to any degree is not an increase in supply or marketcap in and of itself. It could change the marketcap for psychological reasons, but not because of the re-denomination per se.
The money supply (in DUFF or SATOSHI) doesn't change at all
That's never been my argument. It's always been about improving the UX.
The redenom itself is mostly a cosmetic UX change.
The true supply of a currency is its base unit. The base unit in Dash is sometimes called DUFF. You can create cosmetic units that are defined as a certain number of those base units. In the case of Dash we have defined a cosmetic unit call DASH that is defined to be 100,000,000 DUFF. Changing the definition of how many DUFFs make up a DASH does not change how many DUFFs exist. It changes how the cosmetic unit is defined. Link : https://github.com/riongull/notes/blob/master/dash_unit_denominations.md#comparison-tableNo increase in marketcap because of the re-denomination per se. Re-denomination is mostly a cosmetic UX change. I had to do some heavy editing to some of my previous posts, sorry about that. |
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476
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
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on: September 11, 2020, 05:29:14 PM
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My view exactly. i just wanted to know what the motivations would be for those advocating a re-denomination. Which seems to be easier Dash pricing and better marketcap (?). I then became curious what that better marketcap would look like for Dash, with a three decimals re-denomination. Turns out there is no marketcap increase at all. Truth be told i was informed that this was put on a back burner and is just coming from a group of masternode operators, not directly from Dash Core Group. If there is no real consensus for this then it is a non-issue as far as I am concerned. Personally I just do not understand why anybody would be in favour of (or advocating for) redenomination when it comes to Dash because there is no real need to do it with nothing clear about what is to gain from it. If in the future there is a need to consider this it makes sense to discuss all options but right now there is no need, no case and no consensus to go as far as redenomination. It would need to go through a decision proposal. Outcome would be difficult to guess. This is not about masternode operators / masternode owners being able to call themselves millionaires in Dash.
Personally i am against redenomination. For some reason it comes off as very manipulative and seems to challenge the immutable character of cryptocurrency.
Marketcap = Circulating Supply x Price
Current situation
Dash : 9,700,739 DASH Circulating Supply & Price : $75.78
Marketcap : $735,122,001
Mined : 9,700,739 DASH / 18,900,000 DASH x 100 = 51%
Three decimals shifting (1 OLD DASH = 1000 NEW DASH)
Dash : 9,700,739,000 DASH Circulating Supply & Price : $0,07578
Marketcap : $735,122,001
Mined : 9,700,739 DASH / 18,900,000 DASH x 100 = 51%
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477
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
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on: September 11, 2020, 08:07:06 AM
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It would need to go through a decision proposal. Outcome would be difficult to guess. This is not about masternode operators / masternode owners being able to call themselves millionaires in Dash. Personally i am against re-denomination. For some reason it comes off as very manipulative and seems to challenge the immutable character of cryptocurrency.Marketcap = Supply x Price Current situation Dash : 9,700,739 DASH Circulating Supply & Price : $75.78 Marketcap : $735,122,001 Mined : 9,700,739 DASH / 18,900,000 DASH x 100 = 51% Three decimals shifting Dash : 9,700,739,000 DASH Circulating Supply & Price : $0,07578 Marketcap : $735,122,001 Mined : 9,700,739 DASH / 18,900,000 DASH x 100 = 51% I know it is hypothetical but what would the consensus be on that if it were to happen? There is a fine line between the balance of keeping investors happy and keeping masternode operators happy while trying not to tilt towards favouritism to one over the other. Would a redenomination affect Dash store of value?
What risks are there with a redenomination ?
Good questions that warrant some good discussion.
I think allowing more people to own whole units of DASH will help with decentralization as it will get DASH in more hands.
Who would rather have 0.0034 over 3.4 of something?
3 decimals shift would make masternode owners millionaires (in DASH), over night. Now there is a thought. 1 old DASH = 1,000 new DASH 1,000 old DASH (Masternode collateral) = 1,000,000 new DASH Thank you for replying to all my questions. |
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478
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
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on: September 11, 2020, 07:16:19 AM
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Would a redenomination affect Dash store of value?
What risks are there with a redenomination ?
Good questions that warrant some good discussion.
I think allowing more people to own whole units of DASH will help with decentralization as it will get DASH in more hands.
Who would rather have 0.0034 over 3.4 of something?
3 decimals shift would make masternode owners millionaires (in DASH), over night. Now there is a thought. 1 old DASH = 1,000 new DASH 1,000 old DASH (masternode collateral) = 1,000,000 new DASH Thank you for replying to all my questions. |
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480
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Alternate cryptocurrencies / Altcoin Discussion / Re: How many Max supply of Ethereum there will ever will be?
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on: September 10, 2020, 04:15:49 PM
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Ethereum supply is not cap and I believe it is because of the change to POS, with POS their must be an annual inflation and this figure has not yet been finalised. It is not an issue provided the demand for Ethereum continue to be on the rise
When do you think it will be finalised? Sure Ethereum is ranked 2 as it has utility and thousands of altcoins tokens depend on it for smart contracts which gives it value however if theres a infinite unlimited supply of Eth then how is it really valued when theres infinite of them available? Why do miners do Proof of Work for something that has a unlimited supply  Fixed it for you. Tokens : https://coinmarketcap.com/tokens/Altcoins : https://coinmarketcap.com/coins/With regards to infinite unlimited supply of Ethereum : this is well known, surely you did your homework before investing in Ethereum ? |
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