[ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - PROOF OF STAKE - ZEROCOIN

[truxton]

Blocknet DGB for PIVX Decentralized Trade Across Blockchains

[EleanorZ]

It can be a VPS thing, eg if you're on an OpenVZ container with less than 1GB memory then the host can kill the process if it uses "too much" RAM.  How much RAM have you got, and do you know the VPS host platform?

Thanks for the reply. Yeah, for sure something on the VPS side is the likely culprit, but I was still curious if others had been experiencing anything similar. I still host my MNs through Paul, and yeah, they're all 1 GB RAM; not sure what platform he uses off the top of my head. I guess limiting the number of connections per MN might help reduce the RAM load, if that is what it is.

[jacks985]

I don't understand why on pivx website it said that PIVX max supply is 43mil but on coinmarketcap its circulating supply is around 54 mil? Is there something wrong?

[Lercker]

I don't understand why on pivx website it said that PIVX max supply is 43mil but on coinmarketcap its circulating supply is around 54 mil? Is there something wrong?

The supply is actually unlimited. I think that was just the total supply up to the last stage of block halvings that we are currently on.

[EleanorZ]

I don't understand why on pivx website it said that PIVX max supply is 43mil but on coinmarketcap its circulating supply is around 54 mil? Is there something wrong?

Nope, it's exactly as outlined on the website and in the OP. 43 million was the supply after PoW. Add PoS rewards since the transition and you get to the current total. That total will continue to increase based on the current block size of 5 PIV; i.e., absolute rate of increase will remain constant, while percent increase (inflation) will decline as the total supply grows. There is no supply limit, but at 5 PIV/block the supply will always be fairly low during any of our lifetimes.

[tintumon]

Blocknet DGB for PIVX Decentralized Trade Across Blockchains

Can you explain what is this blocknet DGB for PIVX? Does it mean that i can trade between DGB and PIVX using the blocknet wallet, without the use of any exchanges??

[truxton]

Blocknet DGB for PIVX Decentralized Trade Across Blockchains

Can you explain what is this blocknet DGB for PIVX? Does it mean that i can trade between DGB and PIVX using the blocknet wallet, without the use of any exchanges??

That is exactly correct 100%  Not just that pair.  Many many pairs.  Please take a look at the youtube channel for more.

[WayToGo]

When do we see the official release of the zero coin implementation? By the way the android wallet looks good - loving it.

[A57sc]

some staking tutorial for the new android wallet?

[The Crypto Baron]

PIVX comes in at #2 in the Crypto Times "Top 10 Alt Coins"

https://youtu.be/-QLXQolfIcw

[CryptoPlankton]

Hello everyone ! 

After some years spent on reading Bitcointalk without registering, i finally made it. It's been a while that i invested in PIVX and already made good profits but it's just the begining and i can't wait to see its price rising again, i'm holding all my coins and i plan to buy some more in order to set up few masternodes before the huge pump which shall come in a not so far future. After this year or by the end of the year in the best case, when the Bitcoin situation will be better, i'm pretty confident that the PIVX should finally reach the true value it desserves. For me it's by far the best altcoin on the market up to now and i have an entire faith in its success. One of my dreams is to be able one day to use it in everyday life for everything. Thanks to all the devs and the members of this great community who are aiming to make that possible. And as Snappy like to say it, keep it purple people ! 

@TheCryptoBaron I'm a fan of your YouTube's series, i'm a subscriber and i've been following it almost since the start and as i see you just posted on the topic i take the opportunity to thank you for your work. It's very pleasant to listen to, informative, full of good and wise advices and predictions, well done ! 

[The Crypto Baron]

Hello everyone ! 

After some years spent on reading Bitcointalk without registering, i finally made it. It's been a while that i invested in PIVX and already made good profits but it's just the begining and i can't wait to see its price rising again, i'm holding all my coins and i plan to buy some more in order to set up few masternodes before the huge pump which shall come in a not so far future. After this year or by the end of the year in the best case, when the Bitcoin situation will be better, i'm pretty confident that the PIVX should finally reach the true value it desserves. For me it's by far the best altcoin on the market up to now and i have an entire faith in its success. One of my dreams is to be able one day to use it in everyday life for everything. Thanks to all the devs and the members of this great community who are aiming to make that possible. And as Snappy like to say it, keep it purple people ! 

@TheCryptoBaron I'm a fan of your YouTube's series, i'm a subscriber and i've been following it almost since the start and as i see you just posted on the topic i take the opportunity to thank you for your work. It's very pleasant to listen to, informative, full of good and wise advices and predictions, well done ! 

Thanks so much man, welcome to the forum 

[B1tUnl0ck3r]

Hello everyone ! 

After some years spent on reading Bitcointalk without registering, i finally made it. It's been a while that i invested in PIVX and already made good profits but it's just the begining and i can't wait to see its price rising again, i'm holding all my coins and i plan to buy some more in order to set up few masternodes before the huge pump which shall come in a not so far future. After this year or by the end of the year in the best case, when the Bitcoin situation will be better, i'm pretty confident that the PIVX should finally reach the true value it desserves. For me it's by far the best altcoin on the market up to now and i have an entire faith in its success. One of my dreams is to be able one day to use it in everyday life for everything. Thanks to all the devs and the members of this great community who are aiming to make that possible. And as Snappy like to say it, keep it purple people ! 

@TheCryptoBaron I'm a fan of your YouTube's series, i'm a subscriber and i've been following it almost since the start and as i see you just posted on the topic i take the opportunity to thank you for your work. It's very pleasant to listen to, informative, full of good and wise advices and predictions, well done ! 

Welcome ! secure them well ! stay purple

[SnappySnap]

I don't understand why on pivx website it said that PIVX max supply is 43mil but on coinmarketcap its circulating supply is around 54 mil? Is there something wrong?

Nope, it's exactly as outlined on the website and in the OP. 43 million was the supply after PoW. Add PoS rewards since the transition and you get to the current total. That total will continue to increase based on the current block size of 5 PIV; i.e., absolute rate of increase will remain constant, while percent increase (inflation) will decline as the total supply grows. There is no supply limit, but at 5 PIV/block the supply will always be fairly low during any of our lifetimes.

Indeed, it's about 2mil added each year (from the block reward) HOWEVER...

We are (AFAIK) one of the only limitless coin supply "coins" that is also capped by use (with a potential to actually become a decreasing coin supply coin).

Here's how it works:

1) Every 60s, 5 PIV are added.
2) For every transaction, micro fees are added (and those fees are burned).
3) As the rates of transactions (volume) increases per minute, more and more PIV is burned.
4) We will hit a threshold where with enough transactions (I think it's around 200-300 Tx/s or 8-10 SwftX/minute), we will go coin supply "neutral".
5) As transactional volumes increase, more PIVX will be burned every block than what is being added by the reward, thus REMOVING coins from circulation (and beginning a coin-reduction).

It's wild to think about that you can have a liquid coin (meaning, more coins being minted) while still having a reduction in coin supply.

[B1tUnl0ck3r]

some staking tutorial for the new android wallet?

PIVX Launches Mobile Wallet for Android Devices

by Elisha Owusu | Jul 28, 2017 | Announcements | 0 comments
PIVX Launches Mobile Wallet for Android Devices

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PIVX – Private Instant Verified Transaction has launched its mobile wallet for Android devices today. The much-awaited Android mobile wallet for the PIVX network adds a key aspect of adoption to the privacy-centric cryptocurrency expanding its ecosystem. As this will afford its users the ability to carry the privacy-based cryptocurrency with them anywhere.

PIVX fulfills part of its roadmap as it releases the first version of its mobile wallet to the public. As a complement to the desktop version of wallets for the Windows, Mac, Linux and Raspberry operating systems, the mobile wallet has been in development for quite some time. It is aimed at easing the portability issue for the transfer and other use of the anonymous peer-to-peer currency that offers total freedom.

PIVX users on the Android platform would now have easy and quick access to their accounts and be able to monitor their funds in their hands, aligning with the goal of the project to make users their private banks by carrying a fast, secure and fungible currency in their pockets.

The feature list of the PIVX mobile wallet includes:

Security – Use of existing decentralized network nodes, use of checkpoints, PIN app security
Privacy – No account creation required, no identity linking, locally stored private key, one-time encrypted file backup
Lightweight – Does not download full blockchain, so it’s very light on phone’s resources.
Ease of use – Ready to use immediately after install, Address book, QR scanner
Multilingual – Support of language translated XML files
Hierarchical Deterministic (HD) wallet – it only requires a single backup for all addresses.
Easy backup & restore GUI option in-wallet

Users can now download the PIVX mobile wallet on the Google Play Store while wallets for other mobile operating systems are currently being worked on. The PIVX community can also benefit from the #PIVXMobiWallet campaign (starts later today) which rewards users for referring family and friends to the new wallet.

Please keep in mind that this first release is considered beta and will have some minor bugs. Many users have already reported them and will be addressed in the next release. We are also planning for more features to be added as well as IOS support soon. So please go ahead and start receiving and spending PIVX via your mobile today!

more on www.pivx.org

[EleanorZ]

2) For every transaction, micro fees are added (and those fees are burned).
3) As the rates of transactions (volume) increases per minute, more and more PIV is burned.

Interesting; I didn't know that the microfees were straight-up burned. Two questions, then:

1) Does the supply on e.g. Coinmarketcap factor in these burnt coins, or does it only count mined/minted coins? Not really important for now, but in the hypothetical future where burnt coins start to meaningfully offset minted ones, it would be.

2) The PIVX wallet lets you choose the size of the transaction fee, from free if you don't mind long confirmation, to expensive if you want fast confirmation. Picking a higher or lower fee would accelerate or decelerate the move toward supply neutrality and, ultimately, reduction. For now, do you (the dev team) see it as being in the best interests of PIVX if people choose higher fees when possible to reduce inflation?

[The Crypto Baron]

2) For every transaction, micro fees are added (and those fees are burned).
3) As the rates of transactions (volume) increases per minute, more and more PIV is burned.

Interesting; I didn't know that the microfees were straight-up burned. Two questions, then:

1) Does the supply on e.g. Coinmarketcap factor in these burnt coins, or does it only count mined/minted coins? Not really important for now, but in the hypothetical future where burnt coins start to meaningfully offset minted ones, it would be.

2) The PIVX wallet lets you choose the size of the transaction fee, from free if you don't mind long confirmation, to expensive if you want fast confirmation. Picking a higher or lower fee would accelerate or decelerate the move toward supply neutrality and, ultimately, reduction. For now, do you (the dev team) see it as being in the best interests of PIVX if people choose higher fees when possible to reduce inflation?

Community based coin focused on the best interest of it's users and unfortunately that would still be a net negative incentive for the user (shrinking a tiny bit of the supply for the whole but through personally absorbing the entirety of the cost), so this isn't a rational expectation.  Just need more volume/use/adoption.

[EleanorZ]

this isn't a rational expectation.

Mostly agreed, but the incentive would be that keeping the supply as low as possible would (theoretically) bolster the price of a single PIV, offsetting the cost of the fee itself. I guess we'd have to know the actual numbers at play to get an idea if that's real-world possible or just theoretical.

[The Crypto Baron]

this isn't a rational expectation.

Mostly agreed, but the incentive would be that keeping the supply as low as possible would (theoretically) bolster the price of a single PIV, offsetting the cost of the fee itself. I guess we'd have to know the actual numbers at play to get an idea if that's real-world possible or just theoretical.

Don't particularly need numbers at play... just a basic Price = Market Cap / Coin Supply

Going to use big numbers just to illustrate how it's a significant net negative to the individual

Let's say someone paid a 1 million PIVX fee.  They would drop the supply by 1 million, approx increasing the value of PIVX by 2% (1million fee burnt/50ish million coin supply).

Increasing the value by 2% isn't close to being worth paying 1 million PIVX.

Yes, obviously no one would pay a 1 million fee (for illustration purposes only), but the same proportion of negative user impact:supply burnt would apply to any amount of fee spent.

You don't need to appeal to a community to act irrationally when organic growth will take care of business in due time.

[B1tUnl0ck3r]

I hope we all agree to raise the blocksize as soon as it's become too crowded? like 80% full for 24 hours and then we double? With the mobile wallet who knows when we will need it.

Bigger block = higher price :: 92 % correlation.





and I add this very important quote :

A network is only as useful, and hence valuable, as the number of people who can use it. The transaction rate is the limit on that. More volume means more people means more money means higher price.

This is why to have a decreasing inflation is the best option for pivx. it permit new people to join our accounting network. And the more we are, the diversified the things we can trade among us, the more people come...

stay purple.

edit :  one last worth understanding.

There is no founded argument that increasing 7tps increasing the value.  Economics doesn't support it. 

This is the dumbest sentence I've ever seen on this forum.  The burden of proof isn't even on others to prove increasing throughput increases value, the burden of proof is actually on you to prove that bitcoin has any value whatsoever as a settlement network and that 4 TPS would somehow allow it to fill this role. 

I've already explained numerous times why bitcoin has zero value as a settlement layer:

1)  It has built-in rent seeking middlemen (transaction validators) and doesn't remove counter party risk since you're always relying on all kinds of external parties to facilitate transactions

2)  Alternatives already exist before the creation of bitcoin that are far superior for settlement such as gold and silver that actually do remove counter party risk and don't have built-in rent seeking middlemen

3)  Network effect assumes infinite scalability, which bitcoin doesn't have.  Trying to force everyone onto a highly scaling constrained system with giant fees is a pro-usury stance

4)  Due to the above , bitcoin has a reverse Schelling point where there's huge incentive to fork or use a different system rather than pay extortion usury fees.  Low scaling = inveitable rough consensus attack/split.

5)  Bitcoin is a currency and not money.  The value of a currency is entirely based on transaction flow, not stock (how much commerce it can facilitate by scaling)