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Author Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer  (Read 449979 times)
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mr.coinzy
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August 18, 2016, 05:05:41 PM
 #1221

Any intention to reply/respond to my earlier message regarding a roadmap for the project?
(It's important enough as it is, besides the other matters such as total coins supply, design and branding issues etc...)

Thanks.
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August 18, 2016, 06:32:56 PM
 #1222

Quick question about distribution:

I understand that the tokens will be distributed evenly among donators based on amount donated.  Can someone confirm the following is true:

Lets assume that 700 BTC is collected, if someone donated 7 BTC they could received 1% of the total supply, is that correct?

Thanks.

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August 18, 2016, 06:38:18 PM
 #1223

Any intention to reply/respond to my earlier message regarding a roadmap for the project?
(It's important enough as it is, besides the other matters such as total coins supply, design and branding issues etc...)

Thanks.

Well, the development is sort of decentralised! There is no "head" who delegates tasks, but there are (meant to be) independent developers who program their stuff, and all parts which are put together by consensus are Elastic. So I can only give a road map for what I am programming which is basically the Wallet, the Reference Client implementation, the Elastic Programming language and the Mining application. I will try to do it today within the next few hours.

Roadmaps for the website (Isarmatrose is working on it as far as I remember), for Promotions and Articles (I guess Lannister would be the one doing that) and other parts of Elastic (we still need a guy for the block explorer, faucet, etc.) have to be done by those people then.

I'll be back to you in a few hrs.
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August 18, 2016, 06:40:38 PM
 #1224

Lets assume that 700 BTC is collected, if someone donated 7 BTC they could received 1% of the total supply, is that correct?

Not entirely true, because depending on the time of your donation you get between 8000 and 4000 XEL per BTC: for the 7 BTC you would therefore get between 56000 and 28000 XEL which is a percentage of between 1.12% and 0.56%.
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August 18, 2016, 06:46:30 PM
 #1225

1 billion supply plz.

coin vote plz. it doesnt make any sense that someone with 1000XEL has as much voting power as someone with 10000XEL.

I also agree, we need to weigh the votes by the number of XEL in the voter's possession. Not sure if we should include that functionality in the client itself, though? What do you think? It's no big deal, but we should really think to "outsource" votes to keep the current system as simple as possible.

What do you think (yeah, I know this would be a vote for itself  Wink)? It's hard to believe that we will need the voting functionality AFTER the system has launched as I think that most of the decisions can be done with soft forks then.
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August 18, 2016, 06:53:58 PM
 #1226

1 billion supply plz.

coin vote plz. it doesnt make any sense that someone with 1000XEL has as much voting power as someone with 10000XEL.

I also agree, we need to weigh the votes by the number of XEL in the voter's possession. Not sure if we should include that functionality in the client itself, though? What do you think? It's no big deal, but we should really think to "outsource" votes to keep the current system as simple as possible.

What do you think (yeah, I know this would be a vote for itself  Wink)? It's hard to believe that we will need the voting functionality AFTER the system has launched as I think that most of the decisions can be done with soft forks then.
I think a custom version of bitcoinocracy.com should do this, HOdlcoin just made this too.

 
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August 18, 2016, 06:58:30 PM
 #1227

1 billion supply plz.

coin vote plz. it doesnt make any sense that someone with 1000XEL has as much voting power as someone with 10000XEL.

I also agree, we need to weigh the votes by the number of XEL in the voter's possession. Not sure if we should include that functionality in the client itself, though? What do you think? It's no big deal, but we should really think to "outsource" votes to keep the current system as simple as possible.

What do you think (yeah, I know this would be a vote for itself  Wink)? It's hard to believe that we will need the voting functionality AFTER the system has launched as I think that most of the decisions can be done with soft forks then.

I believe that big supply is not good for traders, spread is an important thing.

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August 18, 2016, 07:01:38 PM
 #1228

1 billion supply plz.

coin vote plz. it doesnt make any sense that someone with 1000XEL has as much voting power as someone with 10000XEL.

I also agree, we need to weigh the votes by the number of XEL in the voter's possession. Not sure if we should include that functionality in the client itself, though? What do you think? It's no big deal, but we should really think to "outsource" votes to keep the current system as simple as possible.

What do you think (yeah, I know this would be a vote for itself  Wink)? It's hard to believe that we will need the voting functionality AFTER the system has launched as I think that most of the decisions can be done with soft forks then.

I believe that big supply is not good for traders, spread is an important thing.

small supply is not good for pumping. lol
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August 18, 2016, 07:22:46 PM
 #1229

Lets assume that 700 BTC is collected, if someone donated 7 BTC they could received 1% of the total supply, is that correct?

Not entirely true, because depending on the time of your donation you get between 8000 and 4000 XEL per BTC: for the 7 BTC you would therefore get between 56000 and 28000 XEL which is a percentage of between 1.12% and 0.56%.

Makes sense, I forgot about that variation.  So if its a set amount of XEL given for a BTC for any given point in time does that mean that the market cap or supply has been fixed?  What is it 5 mil?

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August 18, 2016, 07:29:08 PM
 #1230

1 billion supply plz.

coin vote plz. it doesnt make any sense that someone with 1000XEL has as much voting power as someone with 10000XEL.

I also agree, we need to weigh the votes by the number of XEL in the voter's possession. Not sure if we should include that functionality in the client itself, though? What do you think? It's no big deal, but we should really think to "outsource" votes to keep the current system as simple as possible.

What do you think (yeah, I know this would be a vote for itself  Wink)? It's hard to believe that we will need the voting functionality AFTER the system has launched as I think that most of the decisions can be done with soft forks then.
I think a custom version of bitcoinocracy.com should do this, HOdlcoin just made this too.

That's a good one!  Wink I haven't known bitcoinocracy before. I will fork it on GitHub and create a version for Elastic over night. I will need Lannister or Isarmatrose contacting me about the hosting: you two are the only ones with a server here.
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August 18, 2016, 07:30:01 PM
 #1231

Any intention to reply/respond to my earlier message regarding a roadmap for the project?
(It's important enough as it is, besides the other matters such as total coins supply, design and branding issues etc...)

Thanks.

Well, the development is sort of decentralised! There is no "head" who delegates tasks, but there are (meant to be) independent developers who program their stuff, and all parts which are put together by consensus are Elastic. So I can only give a road map for what I am programming which is basically the Wallet, the Reference Client implementation, the Elastic Programming language and the Mining application. I will try to do it today within the next few hours.

Roadmaps for the website (Isarmatrose is working on it as far as I remember), for Promotions and Articles (I guess Lannister would be the one doing that) and other parts of Elastic (we still need a guy for the block explorer, faucet, etc.) have to be done by those people then.

I'll be back to you in a few hrs.


Great!
Much appreciated!
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August 18, 2016, 08:35:08 PM
 #1232

1 billion supply plz.

coin vote plz. it doesnt make any sense that someone with 1000XEL has as much voting power as someone with 10000XEL.

I also agree, we need to weigh the votes by the number of XEL in the voter's possession. Not sure if we should include that functionality in the client itself, though? What do you think? It's no big deal, but we should really think to "outsource" votes to keep the current system as simple as possible.

What do you think (yeah, I know this would be a vote for itself  Wink)? It's hard to believe that we will need the voting functionality AFTER the system has launched as I think that most of the decisions can be done with soft forks then.
I think a custom version of bitcoinocracy.com should do this, HOdlcoin just made this too.

That's a good one!  Wink I haven't known bitcoinocracy before. I will fork it on GitHub and create a version for Elastic over night. I will need Lannister or Isarmatrose contacting me about the hosting: you two are the only ones with a server here.

yes, but it would be desirable to not have to many voting options. otherwise we could end up with something like:

5M 25%
1B 15%
500M 15%
800M 10%
900M 10%

and so on.

I guess you see the issue here, most folks would favor a coin supply raise but if we have like 10 different proposals the minority that wants to keep 5M still wins.

edit: maybe there is an option to vote on several different proposals, then we wouldnt have that issue.
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August 18, 2016, 09:13:52 PM
 #1233

yes, but it would be desirable to not have to many voting options. otherwise we could end up with something like:

5M 25%
1B 15%
500M 15%
800M 10%
900M 10%

and so on.

I guess you see the issue here, most folks would favor a coin supply raise but if we have like 10 different proposals the minority that wants to keep 5M still wins.

edit: maybe there is an option to vote on several different proposals, then we wouldnt have that issue.

So you mean like a "pre-vote" and then, in a second round, take the top X votes into the final voting round?
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August 18, 2016, 09:26:49 PM
 #1234

yes, but it would be desirable to not have to many voting options. otherwise we could end up with something like:

5M 25%
1B 15%
500M 15%
800M 10%
900M 10%

and so on.

I guess you see the issue here, most folks would favor a coin supply raise but if we have like 10 different proposals the minority that wants to keep 5M still wins.

edit: maybe there is an option to vote on several different proposals, then we wouldnt have that issue.

So you mean like a "pre-vote" and then, in a second round, take the top X votes into the final voting round?

That would be an option or let every holder vote for every proposal. Therefor one could scatter his votes and vote for lets say: 1B,900M and 800M while someone else would vote 5M, 25M and so on. So we could avoid that just a tiny difference regarding the preferable coin supply would skew the outcome.

Edit: Also to avoid having like 100 different sizes that we have to vote for i would just offer some fixed proposals like: 5m, 10m,50m,100m, 500m, 1B.
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August 18, 2016, 09:42:56 PM
 #1235

Edit: Also to avoid having like 100 different sizes that we have to vote for i would just offer some fixed proposals like: 5m, 10m,50m,100m, 500m, 1B.

Totally agree, I would maybe add 21M to the list (as it matches the BTC supply) but the rest is perfectly fine.
I am thinking about how to implement it in a system like Bitcoinocracy. From what I found out through playing around with it for an hour, we would have to create "multiple arguments" in the form of:

"Elastic should have a supply of 5M"
"Elastic should have a supply of 10M"
"Elastic should have a supply of 21M"
...

Then people can up vote multiple of them by signing a these special messages with their BTC address that was used for their donation.
But then we have a problem here, you have the option to "down vote" those who you do not like. Down voting all other options is not an "option" for many here I think as it takes a significant amount of time, they would just up vote those they like. So we would mix up with "down votes" as well as "ignorance" for the unfavored solutions.

How could we handle this case? Just disable down votes totally?
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August 18, 2016, 09:53:55 PM
 #1236


no need for downvoting imo.

to offer 21m supply makes sense.
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August 18, 2016, 10:05:31 PM
 #1237


no need for downvoting imo.

to offer 21m supply makes sense.

Okay, I am getting this thing up and running this night. I am 15h awake already, but there is still enough "brain capacity" to modify bitcoinocracy.
I hope that we can launch the hackathon tomorrow, and the testnet in the next few days. I would suggest to put some very crucial parts of the coin up as the first task for the hackathon with a big bonus (Lannister has already created a dummy thread for it) so people stress test it in their own testnets, and then we can make the first testnet public.

Suggestions for the first Hackathon tasks (2BTC each is enough? What do you think? What is Lannister willing to pay?) would be:
a) Make the instance crash with a handcrafted transaction
b) Create money out of thin air by exploiting bugs in the automatic work-cancellation/refund routines
c) Make a user provided POW program go into DOS mode (infinite loop or sth)
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August 18, 2016, 10:09:43 PM
 #1238

Also I would suggest to start the bitcoinocracy thing after the donation phase is over and no more new XEL get created.
It's just ~130 blocks from now, and we can guarantee that the vote is open for EVERYONE.
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August 18, 2016, 10:21:11 PM
 #1239


agree with the voting after the donation closing.

regarding the Hackathon. i have no experience with such public "contests". from my gut feeling i would say one has to offer maybe more to motivate enough folks to get going, but i am not sure. the other issue could be to spread the word about such a Hackathon. we would have to reach alot of potential "hackers" to get some good results out of it i guess.
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August 19, 2016, 06:19:09 AM
 #1240


Edit: Also to avoid having like 100 different sizes that we have to vote for i would just offer some fixed proposals like: 5m, 10m,50m,100m, 500m, 1B.

Why not offer just 3 options: 5m, 1B and 5B?
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