[ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers

[Maythe2nd]

Have max and oliver said anything about the 8,000,000 LISK .. did they promise not to dump it right at the start?

If they say "no" people won't believe them, so better if they don't say anything about it!

[1715323928]

1715323928

[1715323928]

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[sandiman]

(Note: looks like whitepaper needs to be updated, "0.1 LISK of amount sent for a spend transaction" should be "0.1% LISK of amount sent for a spend transaction".

We changed it to a constant 0.1 LISK. There was always the problem to calculate the fee, now it's very easy.

At Crypti, the "percentage fee" was always intended to be a way to compensate the 101 Active Delegates for their out-of-pocket server costs.  In some of my really old posts I went through the math in excruciating detail to show that a percentage fee for Crypti would never come close to covering server costs and I argued for a fixed fee or even no fee.  

Now here we are at Lisk, with the percentage fee gone like I promoted, replaced by a minimal fixed fee per transaction like I also promoted - and a new 5 Lisk paid per block to a forging delegate when his turn comes around every 101 blocks.  So...the Lisk forging block reward at 5 Lisk is 50 times the Lisk transaction fee at 0.1 Lisk - and it's conjured out of thin air as new inflationary coin!  

Crypti tried percentage fees on a non-inflationary coin, Lisk is gonna try inflationary block rewards.  Gotta pay the piper somehow, I guess...

Don't ever say that Lisk is nothing but a perfect clone of Crypti.  Look under the hood, there's lots of differences between Crypti and Lisk.  

Which was the main reason for the fork.  

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

"During the ICO we will distribute 100,000,000 LISK to ICO participants, the core team, third parties and active community members. Once the network is established with 101 delegates there will be an inflation of 5 newly created LISK with every block, these are the Forging Rewards. Every 3,000,000 blocks (~1 year) this reward is reduced by 1 LISK, ending at 1 LISK per block where it stays like that forever."

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

[clixcoin]

Community growing much bigger day by day so that i think Lisk will rock after it get launched, i also donated some coins to the current ico because i am hopeful for great future ahead.

[LiskHQ]

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

If you send 0.01 LISK, you need to spend a total of 0.11 LISK.


A day has 86.400 seconds, that means 8640 blocks can be created every day in the best case. That means in about 350 days there are 3,000,000 blocks. The best case will very likely not be achieved. Therefore it takes a bit longer.

[blastk]

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

10 sec forging a block * 6 * 60 * 24 * 365

[Poly#Crypto]

The Lisk ICO reached 10000 BTC - what do you mean? Please vote.

https://twitter.com/Polycrypto/status/711255113319456769

 

[Nxtblg]

ICO ends in 01 days, 13 hours, 51 minutes, 46 seconds.

Yep, and I just kicked on 0.3 BTC more. Now I'm entitled to a munificent 4444 LISK

(I know, it'll keep dropping, but what the hey: the more bank for development, the better!)

[lokojones]

Hi there, some of my lisk addresses are 20 and others 21 characters long... is this still correct?

Regards

[LiskHQ]

Hi there, some of my lisk addresses are 20 and others 21 characters long... is this still correct?

Regards

Yes.

[sandiman]

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

If you send 0.01 LISK, you need to spend a total of 0.11 LISK.


A day has 86.400 seconds, that means 8640 blocks can be created every day in the best case. That means in about 350 days there are 3,000,000 blocks. The best case will very likely not be achieved. Therefore it takes a bit longer.

Thank you for your quick answer !

Let's imagine one day that lisk valuation rase to 1$ for example, they the transaction fee would be expensive don't you think? Even more for day to day user that will for example need 100$ to create an username if we include other network fees.

Trying to think big for Lisk

[LiskHQ]

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

If you send 0.01 LISK, you need to spend a total of 0.11 LISK.


A day has 86.400 seconds, that means 8640 blocks can be created every day in the best case. That means in about 350 days there are 3,000,000 blocks. The best case will very likely not be achieved. Therefore it takes a bit longer.

Thank you for your quick answer !

Let's imagine one day that lisk valuation rase to 1$ for example, they the transaction fee would be expensive don't you think? Even more for day to day user that will for example need 100$ to create an username if we include other network fees.

Trying to think big for Lisk

We will release constant updates, so fees can be configured according to the price. We may think about another system in the future, for now we keep things simple.

[sandiman]

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

If you send 0.01 LISK, you need to spend a total of 0.11 LISK.


A day has 86.400 seconds, that means 8640 blocks can be created every day in the best case. That means in about 350 days there are 3,000,000 blocks. The best case will very likely not be achieved. Therefore it takes a bit longer.

Thank you for your quick answer !

Let's imagine one day that lisk valuation rase to 1$ for example, they the transaction fee would be expensive don't you think? Even more for day to day user that will for example need 100$ to create an username if we include other network fees.

Trying to think big for Lisk

We will release constant updates, so fees can be configured according to the price. We may think about another system in the future, for now we keep things simple.

Thank you again for your answer ! Good luck in the workload comming in the next weeks!

[LiskHQ]

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?

If you send 0.01 LISK, you need to spend a total of 0.11 LISK.


A day has 86.400 seconds, that means 8640 blocks can be created every day in the best case. That means in about 350 days there are 3,000,000 blocks. The best case will very likely not be achieved. Therefore it takes a bit longer.

Thank you for your quick answer !

Let's imagine one day that lisk valuation rase to 1$ for example, they the transaction fee would be expensive don't you think? Even more for day to day user that will for example need 100$ to create an username if we include other network fees.

Trying to think big for Lisk

We will release constant updates, so fees can be configured according to the price. We may think about another system in the future, for now we keep things simple.

Thank you again for your answer ! Good luck in the workload comming in the next weeks!

Thank you very much. Welcome to Lisk!

[dzarmush]

Someone invested 300 BTC a while ago. Or maybe several people, but it jumped from 8560 BTC to 8860 pretty quick.

[Kevinrasf]

Someone invested 300 BTC a while ago. Or maybe several people, but it jumped from 8560 BTC to 8860 pretty quick.

We had a bunch of these 300 BTC spikes.

Like some whale is just buying slowly in bundles to be less obvious.

[Maythe2nd]

it's fomo for this coin. bettere buy in the exchange a little lower

[LiskHQ]

Someone invested 300 BTC a while ago. Or maybe several people, but it jumped from 8560 BTC to 8860 pretty quick.

We had a bunch of these 300 BTC spikes.

Like some whale is just buying slowly in bundles to be less obvious.

Sometimes a BTC block takes 1 hour and within 1 hour there can be many incoming transactions.

[just2laff]

So, what will happen after the ICO ends tomorrow?

Hells gates will open, fire will rain from the sky and the demons that arise will cover everyone who bought in with mountains of gold after which they get teleported to tropical islands that is home to a thousand of horny virgins.

EDIT: Oh and also Moon.

  Outstanding, and true. Thank you

[Nxtblg]

Any recommendations as to how and where i can buy and access BTC before the ICO closes?

Localbitcoins.com . If you can find someone nearly who'll let you buy with cash & you visit an ATM on the way to the meetup, you should be good to go.

[Kevinrasf]

Someone invested 300 BTC a while ago. Or maybe several people, but it jumped from 8560 BTC to 8860 pretty quick.

We had a bunch of these 300 BTC spikes.

Like some whale is just buying slowly in bundles to be less obvious.

Sometimes a BTC block takes 1 hour and within 1 hour there can be many incoming transactions.

Could be indeed.

Well anyway nice to see we are at this level of BTC already.

Think the final 24 hours will be the most important.