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Author Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer  (Read 448688 times)
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xtester
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August 19, 2016, 06:19:09 AM
 #1241


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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August 19, 2016, 08:40:20 AM
 #1242

Time left 65 Blocks
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August 19, 2016, 09:37:58 AM
 #1243


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?

1B, 5B? What are you talking about?
If we can't stay with 5M then don't exceed 100m - please...
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August 19, 2016, 10:00:05 AM
 #1244

I think, There is a need to be a logic between market cap and coin supply, What price do you want to see on exchanges?

100 sat 10 sat 4000 sat  Huh 

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August 19, 2016, 11:26:46 AM
 #1245


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?

1B, 5B? What are you talking about?
If we can't stay with 5M then don't exceed 100m - please...

to me 100m or 500m seems like a good compromise. 1B has the issue that we get a big spread at exchanges which hinders adoption.

to offer only 3 options in the vote isnt needed imo, we can have at least 5.

5m, 21m, 100m, 500m , 1B
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August 19, 2016, 11:49:00 AM
 #1246

I think, There is a need to be a logic between market cap and coin supply, What price do you want to see on exchanges?

100 sat 10 sat 4000 sat  Huh 

Not less than 10k sat imo.
With 1B coins it would mean 100k BTC market cap which is huge (at least at launch Wink )
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August 19, 2016, 12:02:01 PM
 #1247

I am almost done with the voting software! I think it's best when the community decides!
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August 19, 2016, 01:26:34 PM
 #1248

Sorry, but what is wrong with the initial 5M supply as planned?

Would like to understand the reason that there know a voting will be held to change the supply.

Thanks for explaining Smiley
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August 19, 2016, 01:27:19 PM
 #1249

I think the magic number is 100.000.000 XEL Grin

.
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August 19, 2016, 01:46:23 PM
 #1250

Sorry, but what is wrong with the initial 5M supply as planned?

Would like to understand the reason that there know a voting will be held to change the supply.

Thanks for explaining Smiley

a.) if marketcap of XEL rises one XEL could become to expensive for small jobs to be done by the network

b.) psychological factors. buying a coin worth 1$ its eventually less favorable than buying a coin worth 0.05$
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August 19, 2016, 02:37:05 PM
 #1251

I think the magic number is 100.000.000 XEL Grin
agree tottaly, this amount has been trending with all great projets like eth & lisk ..

Join the Elastic revolution!  Elastic - The Decentralized Supercomputer
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August 19, 2016, 02:55:56 PM
 #1252

I think, There is a need to be a logic between market cap and coin supply, What price do you want to see on exchanges?

100 sat 10 sat 4000 sat  Huh 

Not less than 10k sat imo.
With 1B coins it would mean 100k BTC market cap which is huge (at least at launch Wink )

very optimistic  Smiley

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August 19, 2016, 02:59:16 PM
 #1253

I think the magic number is 100.000.000 XEL Grin
agree tottaly, this amount has been trending with all great projets like eth & lisk ..

lisk? LOL
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August 19, 2016, 04:03:44 PM
 #1254

I think, There is a need to be a logic between market cap and coin supply, What price do you want to see on exchanges?

100 sat 10 sat 4000 sat  Huh 

Not less than 10k sat imo.
With 1B coins it would mean 100k BTC market cap which is huge (at least at launch Wink )

very optimistic  Smiley

Well, it depends on the supply

with current 708.66 BTC and 78.10 % coins purchased, 10k sat gives
-ca. 11x average purchase price for 100M coins
-ca. 0.5x average purchase price for 5M coins

For 1B coins, 10k sat would give massive profit, but obviously it's not realistic.

If 100M coins wins, then 5k sat will be fine for me Smiley
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August 19, 2016, 04:13:42 PM
 #1255

How are we gonna be voting when there is no wallet and we don't have the coins in the first place?

If we do have wallet and coins what are we gonna vote for? A coin swap?

Please explain what the problem is with 5m coins? Just let the work prices float. There is enough granularity with 8 decimal digits available.
It's no different than having 500m with 6 decimal digits at least as far as the system is concerned. What changes is the exchange price.

Unless there is something I don't understand

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Evil-Knievel
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August 19, 2016, 04:27:16 PM
 #1256

You will be voting using signatures.
I have worked the whole night to adapt "Bitcoinocracy" to XEL. Its almost finished. Some changes were made so you can't downvote, and you have limited-time "Questions" with multiple alternatives.

It will be pretty easy.

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August 19, 2016, 04:29:27 PM
 #1257

... and a small addition: Ruby on Rails (Bitcoinocracy's choice) is a pain in the ass. No wonder, services based on it are hacked so often  Undecided
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August 19, 2016, 06:57:24 PM
 #1258

How are we gonna be voting when there is no wallet and we don't have the coins in the first place?

If we do have wallet and coins what are we gonna vote for? A coin swap?

Please explain what the problem is with 5m coins? Just let the work prices float. There is enough granularity with 8 decimal digits available.
It's no different than having 500m with 6 decimal digits at least as far as the system is concerned. What changes is the exchange price.

Unless there is something I don't understand

there is a discussion in this thread going on since quite a while now what coin supply is the optimal solution. so its the absolutely logical way to have a coin vote about that issue. if you like 5m you are free to vote for 5m.

voting works the same way as claiming the XEL at a later moment. by now you should already be well aware off how claiming is planned and working.
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August 19, 2016, 07:29:11 PM
 #1259

yea, 0 Blocks TIME LEFT  Smiley congrats on successful ICO.. now how and when are tokens getting distributed? and as i understood the rest 21% of unbought tokens will get distributed among participants depending on donated percentage right?

edit: will be voting this week?

Join the Elastic revolution!  Elastic - The Decentralized Supercomputer
ELASTIC WEBSITE | NEW ANNOUNCEMENT THREAD | ELASTIC SLACK | ELASTIC FORUM
xtester
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August 19, 2016, 07:46:05 PM
 #1260


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?

1B, 5B? What are you talking about?
If we can't stay with 5M then don't exceed 100m - please...

to me 100m or 500m seems like a good compromise. 1B has the issue that we get a big spread at exchanges which hinders adoption.

to offer only 3 options in the vote isnt needed imo, we can have at least 5.

5m, 21m, 100m, 500m , 1B

Do you think the spread issue would be so serious as to really exhibit that effect? I doubt it. Plus, a 1B cap would also help due to reasons you've already mentioned below.

Anyway, if 1B would be too much, I guess 500m would be my choice.
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