[ANN][XEL] Elastic Project - The Decentralized Supercomputer

[unvoid]

If we are discussing changing the number of XEL; I think Lannister has to ok this?

yeah, hope he will be ok with this.

we can start from 7 sats rather than 1400 sats.

this coin is for the people, so 7 sats is easier for adoption just in psychological sense.

hope i am right.

Sure you're right. For me one of the funniest explanation to why Satoshi picked 21m coins is "Because when it turns 21 it becomes an adult and can drink".

Truth is, mass often buy coin on exchanges with thinking "one day I'll sold 1 coin for 1$. I bought 100,000 of them so it's big. I can go to sleep with happiness filling my heart".

More coins is definitly better idea especially if there is good tech behind it to back it up. And more important if we have so high fees like 1 coin per transaction.

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[TheGift73]

Hi, sorry if these questions have been asked before, but I have only just found out about the project.

So at the current time, the only way for users to be able to get some coins early (when the mainnet is launched) is by donating an amount (users choice) to the BTC donation address shown on the home page?

[unvoid]

Hi, sorry if these questions have been asked before, but I have only just found out about the project.

So at the current time, the only way for users to be able to get some coins early (when the mainnet is launched) is by donating an amount (users choice) to the BTC donation address shown on the home page?

Yes. Or you can offer your price here on this topic hoping that someone will pass to you ownership of his coins bought earlier. @Lannister is escorow and he have to agree before transaction happen.

[ImI]

If we are discussing changing the number of XEL; I think Lannister has to ok this?

yeah, hope he will be ok with this.

we can start from 7 sats rather than 1400 sats.

this coin is for the people, so 7 sats is easier for adoption just in psychological sense.

hope i am right.

Sure you're right. For me one of the funniest explanation to why Satoshi picked 21m coins is "Because when it turns 21 it becomes an adult and can drink".

Truth is, mass often buy coin on exchanges with thinking "one day I'll sold 1 coin for 1$. I bought 100,000 of them so it's big. I can go to sleep with happiness filling my heart".

More coins is definitly better idea especially if there is good tech behind it to back it up. And more important if we have so high fees like 1 coin per transaction.

i agree, one thing i dont like though is when coins are only tradable in terms of bid = 10 satoshi and ask = 11 satoshi. that hinders liquidity at exchanges and should be avoided.

with 1.000.000.000 we would be easily valued at 50 satoshi, so that should be allright.

[Evil-Knievel]

ImI: Yeah, the 11 vs 12 Satoshi thing would be my biggest concern too. That would mean a ~10% spread.

[cyberhacker]

unvoid, cyberhacker ... I will try to address your suggestions very soon!

We all agreed a few weeks ago that we need some bug bounties to "stress test" the software in the testnet. In the end, Lannister will have to manage that, but as I do know the code best and you guys have very brilliant ideas, we could come up with a list of possible bounties to suggest.

As a first shot, I would come up with these possible bounties and these rules:

General rule:
All attacks must be submitted using a proof of concept script which is easily executable. The attack must be reproducable and not use any kind of 0day attack, or any other vulnerability in Java, the Operating System, or other external pieces of software. The attack must result from a faulty implementation of Elastic itself.
Every security hole must be only submitted once. When a bug submission is made, no other submissions are allowed until the bug has been fixed and confirmed to be fixed. All submissions that occur while another submission is not yet fixed are ignored and blacklisted from resubmission.

Invasion of the user's end system:
Here, any attack that shows that a program, which is written in ElasticPL and executed in Elastic's VM can escape the sandbox and gain access to the end user system. Here, it is required that the attacker is able to extract sensitive information from the attacked system such as content of the memory (which is not part of Elastic's VM) or the content of the hard drive.
Suggested Bounty: 10 BTC

Stealing user funds or causing loss of funds:

have to bump this.
Here, any attack that shows how other user's funds can be stolen or destroyed without access to the user's private key / passphrase. This attack has to work with arbitrary amounts, and does not include "rounding errors" where minimal amounts of XEL get lost. This also includes double spending a transaction without reorganizing the blockchain.
Suggested Bounty: 5 BTC

Hard Forks:
Here, any attack that shows how the blockchain can be forked in multiple chains that start coexisting and have no chance of being repaired are included.
Suggested Bounty: 2 BTC

DOS Attacks:
Here, any attacks that show how the Network can be DOS'ed are included. The DOS attack must have an efficiency of O(N^2) meaning that the negative impact on the network increases by the power of two compared to the resources invested.
Suggested Bounty: 0.5 BTC

Rounding Errors:
Demonstrate how XEL can be destroyed by exploiting rounding errors.
Suggested Bounty: 0.5 BTC




What do you think? We need a few more bounties, and we have to rethink the amounts maybe.

[Lannister]

Yeah I agree with raising the coin supply, not real sure about the amount of increase though in all honesty, the idea of rising the supply to one billion might not the brightest spoon in the drawer. After all I think this should be a matter for decision by the community. Can anyone set up a poll?

[cyberhacker]

Yeah I agree with raising the coin supply, not real sure about the amount of increase though in all honesty, the idea of rising the supply to one billion might not the brightest spoon in the drawer. After all I think this should be a matter for decision by the community. Can anyone set up a poll?

yeah，glad to hear that.

I want to emphasize why i am proposing 1 billion.  that make our donation price from 6 min sats to 12 sats max, according to the linear donation line.

right now 10 sats maybe.

in 1 billion case, we will offer the crypto world a easy and low price entry, for major adoption.

and of course i want it stand on 50 sats in one week after release. lol


waiting for the poll. and hope everybody with me. lol

[ImI]

spread of 10% = not good

spread should be 1% max

[unvoid]

1b

Waiting for pool

[ImI]

suggestion: lets wait until stakes have been sold / the final block has been reached and vote then per stake.

[trader19]

80 to 100mil sounds about right, like all star coins atm. (eth, lisk..) ps. waiting for poll maybe on this subject.

[bobmarley650]

https://bitcointalk.org/index.php?topic=1577773.0 Price Speculation

[robdark]

guess i'll just buy after ICO when price drops x50 like most ico now

[beyinsi]

guess i'll just buy after ICO when price drops x50 like most ico now

ppl waited about 3months..ithink,  they wont sell lower prices..

Is there any news about exchanges?

[bobmarley650]

guess i'll just buy after ICO when price drops x50 like most ico now

XEL is not like the most 

[cyberhacker]

guess i'll just buy after ICO when price drops x50 like most ico now

ppl waited about 3months..ithink,  they wont sell lower prices..

Is there any news about exchanges?

actually 5 months

[dadingsda]

guess i'll just buy after ICO when price drops x50 like most ico now

Good luck. It´s a 50/50 chance like every IPO. But it´s a lot more fun to be in before it starts  

[beyinsi]

EK, Did u contact any exchanges? or they contacted with u?

[laugh2btc]

Can´t wait to see how/ if it works!