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

[lordoliver]

It is pity that there is no mining. Many people don't like PoS coins. LISK looks like NEM, NXT, Bitshares, Qora and etc with its flaws.
I hope with that big ICO money LISK team can successfully defend own baby from oblivion. Good luck!

Actually there is forging (mining) beeing a delegate is a very serious buisness , can someone please do the math (daily /monthly/yearly forging Lisk per delegate ?
Our Spreadsheet master maybe would be very nice.

I don't know who this "spreadsheet master" is you're talkin' about, but until he shows up, here's some numbers to think about...

Lisk blocktime is every 10 seconds

Your turn as a delegate to forge a block and get a reward comes every 101*10 = 1010 seconds

There's 60*60= 3600 seconds in an hour, so one delegate gets no more than 3600 / 1010 = 3.56 blocks (and rewards) in an hour

There's 24*3600 = 86,400 seconds in a day, so one delegate gets no more than 86,400 / 1010 = 85.54 blocks (and rewards) in a day

There's 30*86,400 = 2,592,000 seconds in a month, so one delegate gets no more than 2,592,000 / 1010 = 2,566.33 blocks (and rewards) in a month

There's 365*86,400 = 31,536,000 seconds in a year, so one delegate gets no more than  31,536,000 / 1010 =  31,233.76 blocks (and rewards) in a year

Year One rewards are 5 Lisk per block forged.  Year Two rewards are 4 Lisk per block forged.  Year Three, 3 Lisk.  Year Four, 2 Lisk.   Year Five and onward, 1 Lisk.

Maximum Year One forging rewards for one delegate is thus 31,233 * 5 = 156,165 Lisk.   The actual number will be somewhat lower.

it's not the same standard mining is actually fine, if they can add it later by a fork or whatever if possible, it would be great, this must be done with a gpu algo, asic resistant

Mining is evil and will never be a part of Lisk - ASIC, GPU or otherwise.  Who needs to generate trillions of useless hashes to look for a winning lottery ticket when you've got a perfect system that only needs one hash per block?

This concept will hurt lisk like bitshares... staking (or similar) is helping, because it supports the network. Many people are participating.
But this delegate thing is cheesy. The poorer ones are getting poorer and can't do anything against it...

[AleScamHole]

It is pity that there is no mining. Many people don't like PoS coins. LISK looks like NEM, NXT, Bitshares, Qora and etc with its flaws.
I hope with that big ICO money LISK team can successfully defend own baby from oblivion. Good luck!

Actually there is forging (mining) beeing a delegate is a very serious buisness , can someone please do the math (daily /monthly/yearly forging Lisk per delegate ?
Our Spreadsheet master maybe would be very nice.

I don't know who this "spreadsheet master" is you're talkin' about, but until he shows up, here's some numbers to think about...

Lisk blocktime is every 10 seconds

Your turn as a delegate to forge a block and get a reward comes every 101*10 = 1010 seconds

There's 60*60= 3600 seconds in an hour, so one delegate gets no more than 3600 / 1010 = 3.56 blocks (and rewards) in an hour

There's 24*3600 = 86,400 seconds in a day, so one delegate gets no more than 86,400 / 1010 = 85.54 blocks (and rewards) in a day

There's 30*86,400 = 2,592,000 seconds in a month, so one delegate gets no more than 2,592,000 / 1010 = 2,566.33 blocks (and rewards) in a month

There's 365*86,400 = 31,536,000 seconds in a year, so one delegate gets no more than  31,536,000 / 1010 =  31,233.76 blocks (and rewards) in a year

Year One rewards are 5 Lisk per block forged.  Year Two rewards are 4 Lisk per block forged.  Year Three, 3 Lisk.  Year Four, 2 Lisk.   Year Five and onward, 1 Lisk.

Maximum Year One forging rewards for one delegate is thus 31,233 * 5 = 156,165 Lisk.   The actual number will be somewhat lower.

it's not the same standard mining is actually fine, if they can add it later by a fork or whatever if possible, it would be great, this must be done with a gpu algo, asic resistant

Mining is evil and will never be a part of Lisk - ASIC, GPU or otherwise.  Who needs to generate trillions of useless hashes to look for a winning lottery ticket when you've got a perfect system that only needs one hash per block?

This concept will hurt lisk like bitshares...

except one difference.  supply
check supply of bitshares and you will see why it went that way,, 2+BILLION coins?
big dif from the amount lisk will have available
it wont go as high as ether due to supply, but it wont be as bad as bts    IMO
we will c

[redcastle]

ICO UPDATE

We are under heavy load on our ICO website. Therefore, we needed to reduce the scan speed. So it takes longer to get an exchange confirmed!

If your transaction (tx) isn't shown as confirmed on our ICO website, but it is correctly confirmed on the Bitcoin network. Then we will accept it for 100%. The blockchain is the proof of your tx and it will be honoured! We will do several complete re-scans at the end of the ICO and confirm every tx by hand several times! You can rest assured that we will check every exchange with great care!

Thanks for the update! I invested some more now I don't want to wait last minute

[Splatters]

It is pity that there is no mining. Many people don't like PoS coins. LISK looks like NEM, NXT, Bitshares, Qora and etc with its flaws.
I hope with that big ICO money LISK team can successfully defend own baby from oblivion. Good luck!

Actually there is forging (mining) beeing a delegate is a very serious buisness , can someone please do the math (daily /monthly/yearly forging Lisk per delegate ?
Our Spreadsheet master maybe would be very nice.

I don't know who this "spreadsheet master" is you're talkin' about, but until he shows up, here's some numbers to think about...

Lisk blocktime is every 10 seconds

Your turn as a delegate to forge a block and get a reward comes every 101*10 = 1010 seconds

There's 60*60= 3600 seconds in an hour, so one delegate gets no more than 3600 / 1010 = 3.56 blocks (and rewards) in an hour

There's 24*3600 = 86,400 seconds in a day, so one delegate gets no more than 86,400 / 1010 = 85.54 blocks (and rewards) in a day

There's 30*86,400 = 2,592,000 seconds in a month, so one delegate gets no more than 2,592,000 / 1010 = 2,566.33 blocks (and rewards) in a month

There's 365*86,400 = 31,536,000 seconds in a year, so one delegate gets no more than  31,536,000 / 1010 =  31,233.76 blocks (and rewards) in a year

Year One rewards are 5 Lisk per block forged.  Year Two rewards are 4 Lisk per block forged.  Year Three, 3 Lisk.  Year Four, 2 Lisk.   Year Five and onward, 1 Lisk.

Maximum Year One forging rewards for one delegate is thus 31,233 * 5 = 156,165 Lisk.   The actual number will be somewhat lower.

it's not the same standard mining is actually fine, if they can add it later by a fork or whatever if possible, it would be great, this must be done with a gpu algo, asic resistant

Mining is evil and will never be a part of Lisk - ASIC, GPU or otherwise.  Who needs to generate trillions of useless hashes to look for a winning lottery ticket when you've got a perfect system that only needs one hash per block?

This concept will hurt lisk like bitshares... staking (or similar) is helping, because it supports the network. Many people are participating.
But this delegate thing is cheesy. The poorer ones are getting poorer and can't do anything against it...

just as much as you fud is doing

[lordoliver]

except one difference.  supply
check supply of bitshares and you will see why it went that way,, 2+BILLION coins?
big dif from the amount lisk will have available
it wont go as high as ether due to supply, but it wont be as bad as bts    IMO
we will c

are you serious? Supply doesn't say anything. its just a shifted comma...

[lordoliver]

This concept will hurt lisk like bitshares... staking (or similar) is helping, because it supports the network. Many people are participating.
But this delegate thing is cheesy. The poorer ones are getting poorer and can't do anything against it...

just as much as you fud is doing

Any argument as well? Maybe I didn't understand it right?

[bitbitch]

Why would we need passphrases ... arent the generated keys enough?

err, when you generate you get the passphrase and the key in one text file. what's the problem? just more FUD.

[bitbitch]

Why would we need passphrases ... arent the generated keys enough?

Whit the passhprase you can access to your wallet .

do you smell that smell? sniff sniff...yes it's it...the smell of people that won't access their lisk wallet because they've lost the passphrase

Yes I think a lot of people will complain because they will not be able to access to the wallet and most important spend their 'coins'.

not at all.

[Videodrome]

if just one of the big wales are a chinese exchange...we will se a really big price increase...really big..like 100x i bet on this!

[MalReynolds]

it's not the same standard mining is actually fine, if they can add it later by a fork or whatever if possible, it would be great, this must be done with a gpu algo, asic resistant

Mining is evil and will never be a part of Lisk - ASIC, GPU or otherwise.  Who needs a wasteful competitive system to generate trillions of useless hashes to look for a winning lottery ticket when you've got an efficient  cooperative system that only needs one hash per block?

This concept will hurt lisk like bitshares... staking (or similar) is helping, because it supports the network. Many people are participating.
But this delegate thing is cheesy. The poorer ones are getting poorer and can't do anything against it...

I know that phrase about "supporting the network" is the propaganda party line...but WHAT DOES IT REALLY MEAN?  Tell me HOW having hundreds of thousands of miners "SUPPORTS THE NETWORK"

[MalReynolds]

Maximum Year One forging rewards for one delegate is thus 31,233 * 5 = 156,165 Lisk.   The actual number will be somewhat lower.

Max and Oliver each own 4% of LISK.  Therefore they each have 4 delegates = 624660 LISK generated in first year for each of them

That staking revenue should be enough to cover all of their personal expenses.

Am I correct in thinking the staking revenue will be the salary for Max and Oliver?  

Surely they will not be taking salary from investor BTC for their personal expenses?

Ownership percentage does not guarantee the community will vote you into a delegate position.  "Four percent ownership" does NOT mean "Has four delegate slots".  Go read the Delegate Handbook and come back to post when you understand how Lisk really works.

[iambitcoin5]

if just one of the big wales are a chinese exchange...we will se a really big price increase...really big..like 100x i bet on this!

Yeah maybe so.

[lordoliver]

if just one of the big wales are a chinese exchange...we will se a really big price increase...really big..like 100x i bet on this!

Yeah maybe so.

Who the hell pays you for posting this?

[johny08]

if just one of the big wales are a chinese exchange...we will se a really big price increase...really big..like 100x i bet on this!

Yeah maybe so.

oh man, whales will take your money, not give you money.

[Digital_Currency_LTD]

From LISK chat:

max 7:26 PM
@all:
ICO UPDATE

We are under heavy load on our ICO website. Therefore, we needed to reduce the scan speed. So it takes longer to get an exchange confirmed!

If your transaction (tx) isn't shown as confirmed on our ICO website, but it is correctly confirmed on the Bitcoin network. Then we will accept it for 100%. The blockchain is the proof of your tx and it will be honoured! We will do several complete re-scans at the end of the ICO and confirm every tx by hand several times! You can rest assured that we will check every exchange with great care!

[Nxtblg]

I demand more FUD!.

the price will drop, because they all think it will skyrocket and noobs having no idea, that they are going to lose money in the end.

But the question on the table is, "drop from what?"

The initial trading price on an exchange is not the same as the final ICO price. It might be lower, true, but it also might be considerably higher. Case in point: Ethereum. Its final ICO price - I checked - was 1'000 ETH per BTC, or a BTC price of 0.001. Did it start trading at that price? If I recall correctly, it started trading at well above 0.001.

This is the right answer.

That doesn't really count, because there was noone really buying for that price... The ICO participants couldn't just get their coins on the exchange to dump them directly ...

Oh right, I forgot.

Come to think of it, that "couldn't just get their coins on the exchange to dump them directly" explains some of the price drop after the initial listing. But a lot of it is explained by the same old excitement-to-boredom process.

[Alexthesalamander]

Lisk is a longterm project guys! Dont expect any action once its released. It will only be hype and fud and pump and dump. Think longterm. The devs have over 11k BTC now to use on Lisk development, and we all have a share in it if they succeed!

[Pofick]

I've forgot to download my key pair in txt file. But I got my adress, public key and passphrase. Do I need this txt or it is just a backup with the same info that I already have?

[johny08]

Maximum Year One forging rewards for one delegate is thus 31,233 * 5 = 156,165 Lisk.   The actual number will be somewhat lower.

Max and Oliver each own 4% of LISK.  Therefore they each have 4 delegates = 624660 LISK generated in first year for each of them

That staking revenue should be enough to cover all of their personal expenses.

Am I correct in thinking the staking revenue will be the salary for Max and Oliver?  

Surely they will not be taking salary from investor BTC for their personal expenses?

Ownership percentage does not guarantee the community will vote you into a delegate position.  "Four percent ownership" does NOT mean "Has four delegate slots".  Go read the Delegate Handbook and come back to post when you understand how Lisk really works.

If you have 4% of the LISK.  Then you can put 1% of voting power on each of your own 4 delegates

So Max and Oliver will have a minimum of 4 delegates each if they make the rational choice of voting for their own delegates

4 delegates = 624660 LISK generated in first year = more than enough to cover all personal expenses if LISK is successful

RTFM!

(read the fucking manual!) before posting more nonsense. you vote for an account you pay 100 lisk for creating. its completely different what you saying.

thats not even fud, thats bad taste lies.

[lordoliver]

I've forgot to download my key pair in txt file. But I got my adress, public key and passphrase. Do I need this txt or it is just a backup with the same info which I already have?

thats all you need. By the way active or passive?