So what happened to this project?  The net hash rate has gone down considerably since I last was around. The price has taken a dive, and the mining rewards have been reduced even more!!!! It used to be 10 coins went to the miner and 10 coins went to some growth rewards. But now it is 5 coins goes to the miner and 15 coins goes to growth rewards. This new change was the result of POG3, which basically screws over the miners, the people who keep the blockchain going. They only get 5 coins for solving the work on the blockchain, while people who hold the most coins, gets the rest of the 15 coins from the block solved. Before, growth rewards were given to people who held at least 20 coins in their wallet. Now, you basically have to be a top 1% Merit holder to earn rewards. On top of that, you also need to have a network of people under you to boost your score. The problem, as noted before, is the ability to get invites. You have to mine on certain pools, or straight out buy them in order to get them. Also, people constantly spamming their links and fake applicants wasting peoples invites. A very strong barrier to entry for this project. They made hundreds, if not a thousands test(fake)wallets to test their new pog3 fork. However, this test was done on the live blockchain, and not on their test network. These test wallets, have been gaining growth rewards and basically robbing real users from gaining any rewards. On top of this, they plan a sale of 15 million coins from their 20 million genesis block in a just a few days further flooding the market with coins, basically going to hurt the price of this coin. You have to buy a lot of coins from their in-house exchange(the only exchange) in order to gain these so called growth rewards. Forget mining this coin anymore, because only 25% of the block is rewarded to actual miners, while the rest of the block(75%) is given to top Merit holders. It is not profitable at all to mine this coin, unless you get free electricity. They're basically saying, you have to buy a ton load of coins from their exchange, if you want to partake in these growth rewards, because screw the miners. This project feels like a ponzi/pyramid type scam even more than before!!!! BEWARE!!!! This is a very interesting point you make. The concept behind Merit is super-cool, but the practic implementation quite sucks. As a latecomer I'm personally totally stuck as far a "proof of growth" is concerned (for the reasons I've explained in a previous post of mine) - and this applies to every newcomer so in other words the network CANNOT really grow this way. The "proof of growth" should be renamed "proof of whale" since only people with their bags full of Merits will eventually get more. I've also given a try to mine Merits with the wallet but as a result I've ended only in wasting electricity and getting ZERO merits. On top of that the news that coins will be sold by the team to people makes it really look like just another Ponzi. The only realistic way to get the coins is to fucking buy them? WTF? So you guess what? Good project on paper - but in the real world it has probably no future. "The only realistic way to get the coins is to fucking buy them?" I'm curious, you are promoting EOS ex. What's the only realistic way to get EOS coins? Aren't they delegated proof-of-stake? In terms of mining Merit, one GPU gets probably around 15 MRT per day. Whether that is profitable depends on the price and people's costs. Within a little over a day of mining, you can start getting growth rewards. You don't need to buy if you don't want to, you can mine, unlike say EOS. The Merit wallet does not see my GPU, Nvidia 1060 - it tell me "You do not have any GPU device yet" even though of course I have - I don't know why, didn't see any help or tutorial which would help me understand how the wallet should start seeing my GPU. Therefore only CPU mining possible and even though I have a powerful 8-core i7 processor, one day of CPU mining didn't produce a single Merit, but of course it wasted a lot of electricity. But anyway, what supposedly makes Merit a different coin is its (on paper) brilliant Proof of Growth concept, but if in the real world that does not work at all (for sure it doesn't for me and the few friends which I have involved) than all the special and unique value of this coin is just a delusion. |
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Now there is no staking, just POW mining. For you to be in only one pool use the pool long link and don't choose the pool from the drop-down table in consensus (webdollar.io). (check Telegram for full list of long links of pools)
When POS will be added, as it will be hybrid, you will have to stake your WEBDs in order to participate in the process. But in the same time for the POW blocks you will also be able to mine like you do now with CPUs.
The percentage of POS blocks was discussed to be 20 followed by 10 POW blocks, and so on.
Any infos on when the PoS will be implemented? More, will it be possible to leave the wallet open for PoS while avoiding to produce PoW? |
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So what happened to this project? The net hash rate has gone down considerably since I last was around. The price has taken a dive, and the mining rewards have been reduced even more!!!! It used to be 10 coins went to the miner and 10 coins went to some growth rewards. But now it is 5 coins goes to the miner and 15 coins goes to growth rewards. This new change was the result of POG3, which basically screws over the miners, the people who keep the blockchain going. They only get 5 coins for solving the work on the blockchain, while people who hold the most coins, gets the rest of the 15 coins from the block solved. Before, growth rewards were given to people who held at least 20 coins in their wallet. Now, you basically have to be a top 1% Merit holder to earn rewards. On top of that, you also need to have a network of people under you to boost your score. The problem, as noted before, is the ability to get invites. You have to mine on certain pools, or straight out buy them in order to get them. Also, people constantly spamming their links and fake applicants wasting peoples invites. A very strong barrier to entry for this project. They made hundreds, if not a thousands test(fake)wallets to test their new pog3 fork. However, this test was done on the live blockchain, and not on their test network. These test wallets, have been gaining growth rewards and basically robbing real users from gaining any rewards. On top of this, they plan a sale of 15 million coins from their 20 million genesis block in a just a few days further flooding the market with coins, basically going to hurt the price of this coin. You have to buy a lot of coins from their in-house exchange(the only exchange) in order to gain these so called growth rewards. Forget mining this coin anymore, because only 25% of the block is rewarded to actual miners, while the rest of the block(75%) is given to top Merit holders. It is not profitable at all to mine this coin, unless you get free electricity. They're basically saying, you have to buy a ton load of coins from their exchange, if you want to partake in these growth rewards, because screw the miners. This project feels like a ponzi/pyramid type scam even more than before!!!! BEWARE!!!! This is a very interesting point you make. The concept behind Merit is super-cool, but the practic implementation quite sucks. As a latecomer I'm personally totally stuck as far a "proof of growth" is concerned (for the reasons I've explained in a previous post of mine) - and this applies to every newcomer so in other words the network CANNOT really grow this way. The "proof of growth" should be renamed "proof of whale" since only people with their bags full of Merits will eventually get more. I've also given a try to mine Merits with the wallet but as a result I've ended only in wasting electricity and getting ZERO merits. On top of that the news that coins will be sold by the team to people makes it really look like just another Ponzi. The only realistic way to get the coins is to fucking buy them? WTF? So you guess what? Good project on paper - but in the real world it has probably no future. |
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Ask your neighborhood why they are not interested in Cryptos and analyze the reactions.
You should also remember to ask your neighbothood what they think about crypto once the financial market will have crashed worse than 2008 - as it surely will, and they will have lost their beloved FIAT money. I see many people now saying Byteball (as all of crypto) have no real world use. That's quite true... for now. But don't forget why Bitcoin was allegedly created in the first place: to create a form of money which would not disappear by magic as FIAT money DID disappear and in big quantities in 2008. We're now just setting the foundations for the future. And compared to other coins Byteball's tech is outstanding in this process. Who exactly is the bite balls target group? Mine, i.e. the producer and trader at least not. As a result, not the consumers either. My customers pay with Bitcoin. The customers of others especially with Monero. The latter in particular is becoming increasingly important. Monero has the highest turnover on BISQ. When Fiat crashes also the regulated markets crash. The already exponentially growing unregulated market will then gain enormous popularity and correspondingly the currencies that dominate this market, mainly because there is an infrastructure for it. So who should be interested in bite ball? We will see. No real predictions can be made for the day FIAT will crash. We'll then enter a stage of extreme chaos and therefore total unpredictibility. It's reasonable to think that the easiest to use coins will at that point eventually get sudden adoption by those unable to deal with more complicate coins and thrive. I find Byteball one of the most easy to use around, even though that aspect still can improved. |
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I have noticed a nice feature in the dashboard, by clicking on the "earn more" button you get rewarded to answer to questions. I think this must be related with AI training. Very interesting. The funny thing is that the same procedure should also be able to profile the user.
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Ask your neighborhood why they are not interested in Cryptos and analyze the reactions.
You should also remember to ask your neighbothood what they think about crypto once the financial market will have crashed worse than 2008 - as it surely will, and they will have lost their beloved FIAT money. I see many people now saying Byteball (as all of crypto) have no real world use. That's quite true... for now. But don't forget why Bitcoin was allegedly created in the first place: to create a form of money which would not disappear by magic as FIAT money DID disappear and in big quantities in 2008. We're now just setting the foundations for the future. And compared to other coins Byteball's tech is outstanding in this process. |
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I've received the email notifying new mining options in the dashboard, but at first glance I did not notice anything new - except of course of the added 10% mining cap. Any more specific help page available somewhere?
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The Byteball ICO website will be launching shortly.
But just to clarify: it's a website to better showcase how the Byteball platform is ideal for running an ICO. Byteball will not be having its own ICO!
That's really awesome. Now that the ICOs have fallen into disrepute worldwide.  Well, what's in deep crisis is the whole Ethereum-based ICO projects compartment, as every ICO team is dumping ETH to get the FIAT they need for running their projects and this is crashing ETH's price which in turn is crashing their tokens' price in a never ending vicious circle. ICOs which were held on other platforms (like Smartlands which was held on Stellar) are now in a better condition. Therefore, it could be in fact a good moment to come out with the Byteball ICO website - now that Ethereum is declining perhaps the market is ready for other platforms, and while ETH is quite likely to continue to slide (taking down its token with it), Byteball is quite likely to have bottomed or to be near bottom, and therefore has so much more upside potential than Ethereum, since total cap is now sooo much lower. It goes without saying that such an upside potential for Byteball implies also a huge upside potential for the tokens which will be created on Byteball's platform. This aspect is something which perhaps should be outlined in the upcoming website. |
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I have joined the Merit network since the idea is in itself quite mind boggling. The mission of achieving a more effective decentralization than most of the other coins out there through a system of invitations is great.
However after having joined the network I'm having a few doubts. First I had to beg for a few invitations which I could use to convalidate the invitations I would make for my friends. Then, once I've finally managed to invite two friends whom I could validate, now I am unable to supply them with invitations that THEY can use if the want to invite anyone. In other words, the growth of the network in my direction is stuck and so it will probably stay, since we won't spend our time begging for more invitations because we are not beggars, and if it has happened to me and my friends that would probably apply to most of newcomers. Of course, beggars will possibly succeed in getting more invitations, in which case the system is likely to select a population of beggars, not the kind of community I'd like to be part of.
This means that once again early adopters got too much advantage over later adopters, which is the same paradigm of Bitcoin and the other coins - in other words the mission of a better decentralization will probably not be achieved by Merit either.
If I'm wrong I'd like to hear why. If there is no smooth way to allow me and others to perform the "Proof of Growth" without having to beg, then such growth simply won't happen.
Great points! And you are right about the current difficulty's of merit invites. Have you seen this overview video? https://youtu.be/KrPVbkJ1IZoI don't think you need to beg to get free invites. Did you ask the person who invited you? Or did you ask on discord? Many of us hand out invites to those who need it for free! When it comes to getting them on your own, the best place for a casual miner would be to pool mine in the parachute pool. Invites are not distributed by hash power. If you're a serious miner you shouldn't have any issues getting invites from any pool. I hope that helps explain a few other ways. Invites shouldn't be too easy to get though! Weeks have passed and "without begging" for merits I'm stuck, which raises in me some major questions about the functionality of this system. Yes, true, I've got 3 invites from the person who has first invited me and I've used them to invite friends, to whom of course I'm now unable to give any invites to help them grow the network since I have none any more. So that's a dead end, since we're not miners. My friends already forgot about this project and soon will I too. Joined Merit 3-4 months back. Never had to "beg" for INVs ever. The reason for this being, I "mine" in the Parachute Pool. To be honest, I can't PoW mine much because of limited hardware (I have an ageing CPU for crypto work). Most mining pools distribute their own MRTs and INVs based on the hash contributed by a miner. Parachute Pool has taken a different way to distribute its MRTs and INVs. They also consider if you helped folks on Telegram, been active in the community, invited others etc. Every single factor makes you eligible for the pool MRT and INV distribution at month end. Though, people who tick more boxes get more. But everybody qualifies for some MRT and INV even if they satisfy only a few conditions. More information on the pools here: https://merit.disifi.com/poolsI will give a look at Parachute Pool. I've also made a little try to mine with my very limited resources since indeed the wallet seems very friendly for doing that, but the wallet didn't detect in my system any GPU card it could mine with, and I have a 1060 nvidia card. Which could be the reason for that? |
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I have joined the Merit network since the idea is in itself quite mind boggling. The mission of achieving a more effective decentralization than most of the other coins out there through a system of invitations is great.
However after having joined the network I'm having a few doubts. First I had to beg for a few invitations which I could use to convalidate the invitations I would make for my friends. Then, once I've finally managed to invite two friends whom I could validate, now I am unable to supply them with invitations that THEY can use if the want to invite anyone. In other words, the growth of the network in my direction is stuck and so it will probably stay, since we won't spend our time begging for more invitations because we are not beggars, and if it has happened to me and my friends that would probably apply to most of newcomers. Of course, beggars will possibly succeed in getting more invitations, in which case the system is likely to select a population of beggars, not the kind of community I'd like to be part of.
This means that once again early adopters got too much advantage over later adopters, which is the same paradigm of Bitcoin and the other coins - in other words the mission of a better decentralization will probably not be achieved by Merit either.
If I'm wrong I'd like to hear why. If there is no smooth way to allow me and others to perform the "Proof of Growth" without having to beg, then such growth simply won't happen.
Great points! And you are right about the current difficulty's of merit invites. Have you seen this overview video? https://youtu.be/KrPVbkJ1IZoI don't think you need to beg to get free invites. Did you ask the person who invited you? Or did you ask on discord? Many of us hand out invites to those who need it for free! When it comes to getting them on your own, the best place for a casual miner would be to pool mine in the parachute pool. Invites are not distributed by hash power. If you're a serious miner you shouldn't have any issues getting invites from any pool. I hope that helps explain a few other ways. Invites shouldn't be too easy to get though! Weeks have passed and "without begging" for merits I'm stuck, which raises in me some major questions about the functionality of this system. Yes, true, I've got 3 invites from the person who has first invited me and I've used them to invite friends, to whom of course I'm now unable to give any invites to help them grow the network since I have none any more. So that's a dead end, since we're not miners. My friends already forgot about this project and soon will I too. |
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TWIST Update - Nodes
Hey guys, we've released an infographic giving a concise explanation of TWIST Nodes. We are aiming to have Nodes fully functional in Q1 2019, however we intend to open node registration later this month. Further information will be released soon, including instructions on how to register a node (this functionality will likely be made available through the web-wallet).
We’ve also contacted CoinMarketCap about getting our circulating supply updated so that our market cap displays properly. Stay tuned for further updates!
Best wishes,
The TWIST team
This is excellent news which should also put to rest some silly talks about the "team having disappeared" which have been popping up lately. One question to the team though: which is the reason of opening node registration months before the actual launch of the nodes? More: in what cosists exactly the "node registration"? |
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I've read that Musicoin can be stored on MEW with Trezor support. But does Musicoin also have Nano Ledger support? I didn't find any references to that. If yes, which is the exact procedure to store the coins on the Ledger?
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I have made a mistake in the Telegram bounty registration and so I have registered again with the correct information, records 137 and 138 on the spreadsheet, please delete the first of two records (137), the second record has data consistent with the proof of authentication post which I've just published.
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#Proof of Authentication
Telegram Username: @cryptorobert1
Bitcointalk Username: CryptoRobert
Wearing EOSex's Telegram Avatar: YES
Wearing EOSex.com on Telegram Name: YES
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I know there is already a FIAT gateway opened by Bancor which allows people to purchase Eth via credit card. But is it also possible to buy directly any tokens which are already liquid on the Bancor network? If not, why not? As all cryptocurrencies are aiming at a higher adoption base, they all need to be EXTREMELY easy to buy for ordinary non-crypto customers, and having to go to the intermediate step of buying ETH or BTC is too complicated for most of them. So I believe that a Bancor FIAT gateway which would allow to purchase all of the tokens using the Bancor protocol for liquidity IN ONE SINGLE EASY STEP would be a huge milestone for the whole world of crypto.
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I have joined the Merit network since the idea is in itself quite mind boggling. The mission of achieving a more effective decentralization than most of the other coins out there through a system of invitations is great.
However after having joined the network I'm having a few doubts. First I had to beg for a few invitations which I could use to convalidate the invitations I would make for my friends. Then, once I've finally managed to invite two friends whom I could validate, now I am unable to supply them with invitations that THEY can use if the want to invite anyone. In other words, the growth of the network in my direction is stuck and so it will probably stay, since we won't spend our time begging for more invitations because we are not beggars, and if it has happened to me and my friends that would probably apply to most of newcomers. Of course, beggars will possibly succeed in getting more invitations, in which case the system is likely to select a population of beggars, not the kind of community I'd like to be part of.
This means that once again early adopters got too much advantage over later adopters, which is the same paradigm of Bitcoin and the other coins - in other words the mission of a better decentralization will probably not be achieved by Merit either.
If I'm wrong I'd like to hear why. If there is no smooth way to allow me and others to perform the "Proof of Growth" without having to beg, then such growth simply won't happen.
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I have thought of wearing the Twist signature but to my disconcert I could not find it anywhere - it has been removed from the Twist bounty page. This is a quite silly mistake by the team, to make the signatures UNAVAILABLE for those who spontaneoudly decide they want to wear a TWIST signature. Please make them availabe again.
Hi CryptoRobert, signatures can be found here: https://archive.fo/daIM9Thanks. But I would warmly recommend making this link available on the OP of the ANN for the other supporters of Twist who'd like to wear the signature even if there is no signature campaign, in the true spirit with which signatures on Bitcointalk were originally created. |
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I have been contributing to your bounty campaign for a while in the past weeks, and I was login into your portal with my Twitter account @Crypto_robert
but then it has happened that Twitter has locked my Twitter account for no clear reason and now I cannot log into the protal any more. I have reached already the Silver level there, but I haven't input my Xaya wallet yet. So what could I do now?
Your (locked) Twitter account should normally not be the reason, why you can't log into the portal. With portal I guess you mean the widget on xaya.io. By clicking sign in, you will have to put your email address in and will get a sign back in link via email. This should work even with your Twitter account locked. You can then put your CHI address in to the widget. In fact I have then signed up with my email but is seems to be another account, I didn't find trace of my bounties and the silver level, all the bounties are still to be earned. One month have passed and still no way to log in with Twitter any more and logging with email leads me to a new and empty account. I have managed to log in with a link received by email but all I find inside is that the Campaign 1 has finished - and I never had a chance to insert my wallet there. |
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I have thought of wearing the Twist signature but to my disconcert I could not find it anywhere - it has been removed from the Twist bounty page. This is a quite silly mistake by the team, to make the signatures UNAVAILABLE for those who spontaneoudly decide they want to wear a TWIST signature. Please make them availabe again.
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I'm logging in the X-cash.org website with Twitter, however now Twitter has suspended my account because it has been tweeting about crypto (no comment) - I can still use it to log it on the website, but for obvious reasons now I'd rather switch to email autentication. Is there a way to do that?
Its strange that Twitter suspends account by tweeting about crypto's, im using mine for crypto purposes and haven't encounter such issues. Maybe you are just seeing a BOT MESSAGE? saying there's an unusual activity on your account and can be unlock by verifying your phone number WHat you are saying has happened several times in the past too, and it could always be easily fixed. But now it is a suspension with no explanation, and by googling the issue it appears that it may be that Twitter accounts which have been retweeting ICO's projects are getting nuked, since ICOs can potentially be scams. A sort of Minority report scenario. You get suspended since you may be retweeting tweets of projects which in the future may turn out to be scams. My guess is that they are just cracking down on cryptos, just as Facebook has partially done. Today it's me, tomorrow it may be you. Social medias are NOT democratic systems. |
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