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[haggis]

No new investments since yesterday. While I'm happy about my bigger share on one side, I'd be haopy if the sum would exceed 100BTC on the other side. So that you have more funds for development  

[schnötzel]

Hi,
do you need german translation (for some ELC)?

best regards

[poornamelessme]

No new investments since yesterday. While I'm happy about my bigger share on one side, I'd be haopy if the sum would exceed 100BTC on the other side. So that you have more funds for development  

I think more will come in once everything is figured out (like if it's mathematically possible this thing will work) and a dev team is announced. Still following the coin, just not willing to jump in until I know the coin could actually be made. Although by then the changing rewards could be an issue for me.

[BlockchainDynamics]

Hi we were talking a little bit about Elastic coin on our podcast last night.  It seems like one of the most technologically ambitious coins announced recently and we were having some trouble understanding the details.  The white paper is kind of over our heads.  We were wondering if anyone would want to come and say a few words about Elastic coin next weekend on our show.  Just describe what the project is about and whatever else you might want to say.

You can checkout our chat about Elastic coin at https://bitcointalk.org/index.php?topic=1379730.msg14041973#msg14041973 Elastic coin is discussed at 16:13:00 .

We will be watching your project with interest!

[P-Funk]

Typo under Foreign pubkey box on this page: http://elastic.pro/send.html

ETH -> ELC

On that same page, I'd change this word:

How many ELC do you want to transfer? You can use up to 6 digits after the comma decimal point.


Typo in thread OP, third paragraph:

 Imagine you could move from the traditional cluster and
decide to have your tasks solved by the Elastic Coin network for as low as a few ETC coins.

ETC -> ELC

[Dink]

first line,... p2p through the Web.
third line elastic coin SDK....spell out SDK
last line - by the miners.  All at a fair and market driven price.

[Dazza]

Dazza, what do you think about the "submitting PoW transactions increase your chances to find a PoS block" approach?
Do you think we can used that as some sort of basis?

At least the FAA attack (assuming linear speedup) cannot give you godlike powers (as the 51% attack does in Bitcoin) but can only give you at most a linear (i think we could also go for logarithmic or square root) increase in the probability to find a block successfully.

Pure PoS has its own version of the 51% attack - an attacker with 51% of the coins can subvert the consensus.  He doesn't have to own them outright, only control them for PoS purposes.  Online wallets present the same centralisation risk as mining pools do for PoW.

When you says "submitting PoW transactions increase your chances to find a PoS block" do you mean the buyer or the miner gets the enhanced chance?  Arguably it doesn't really matter any attacker is likely to be both.  He will arrange that his coin is spent only on his own miners.

How does proof of storage work?

[P-Funk]

I've looked a bit more into this, and I wish you the best with this project Evil-Knievel, but I think it's too early to ask for crowdfunding donations when major concepts of how this will work aren't laid down yet.

[Evil-Knievel]

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[SISAR]

Not sure if it was mentioned earlier but it would be better if all 5 million coins end up distributed no matter how much BTC end up donated. As it is now, based on BTC value, 7.69 % coins should be distributed which is less than 500k coins, quite a low supply. It would eventualy complicate commerce, even with 8 decimal places. Many argued on this forum that even Bitcoin with 21 million coins total could run into same issues so I think ELC community should not opt for very low coin supply.

[Evil-Knievel]

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[Evil-Knievel]

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[Cryptorials]

I like the introduction, it gives a good overview of the aims of this project. Also its good of you to include people who've contributed to the discussion in this thread in the acknowledgements.

Its the later parts I'm really looking forward to reading though, since I think we still don't really know how consensus is going to work and how it can be made resistant to attacks like FAA.

[Evil-Knievel]

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[Cryptorials]

I like the introduction, it gives a good overview of the aims of this project. Also its good of you to include people who've contributed to the discussion in this thread in the acknowledgements.

Its the later parts I'm really looking forward to reading though, since I think we still don't really know how consensus is going to work and how it can be made resistant to attacks like FAA.

Thank you very much for the feedback.
The other parts will follow today. The FAA will be a big topic in the remainder of the paper.
All aspects that still need some discussion will be marked red  

As soon as that for the rest - excellent!

[SockPuppetAccount]

Sounds like Zennet.  https://bitcointalk.org/index.php?topic=736447.0

Forgive my skepticism as your intentions maybe honorable and I respect lofty goals, but I cannot conceive of a project of this complexity ever getting off the ground with the amount of funding you are likely to raise.

I hope you prove me wrong but I'll be sitting on the sidelines for this one.  Good luck.

[nihilnegativum]

Regarding the intro, I think it would be better to go a bit deeper into the functions of distributed computing (scientific and economic). Another thing I would suggest for the project is to drop the 'Coin' or rebrand completely, by its concept this isn't another coin, but something in the ranks of ethereum/augur etc. so calling it a coin really devalues it, and hides it in the multitude of all the clonecoins.

[Evil-Knievel]

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[cyberhacker]

Sounds like Zennet.  https://bitcointalk.org/index.php?topic=736447.0

Forgive my skepticism as your intentions maybe honorable and I respect lofty goals, but I cannot conceive of a project of this complexity ever getting off the ground with the amount of funding you are likely to raise.

I hope you prove me wrong but I'll be sitting on the sidelines for this one.  Good luck.

is ZINNET  going to this one? 

http://www.idni.org/pre-sale

agora tokens.

[wosch76]

... Another thing I would suggest for the project is to drop the 'Coin' or rebrand completely, by its concept this isn't another coin, but something in the ranks of ethereum/augur etc. so calling it a coin really devalues it, and hides it in the multitude of all the clonecoins.

good point.
I would also drop the Coin and just name the project "Elastic"
and in the crowdfunding one can get "tokens" instead of coins.

[ELC] Elastic: A Revolutionary, Crypto-Driven Computation Cluster (weighted Crowdfunding)