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

[bspus]

why are you assuming so? we discussed this since days now in this thread. you are obv able to vote for multiple options because of exactly this mentioned issue.

You can? I didn't know nor have I seen those posts were it was discussed. I guess its not an issue then

[1714195835]

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[Evil-Knievel]

TIP: For those who want to vote, but only have their blockchain.info mnemonic pass phrase.

1. Go to blockchain.info security center and backup your mnemonic phrase
(Its 12 words, for example "claw income cover upset below across idle cup course uniform tilt wheel")

2. Go to https://dcpos.github.io/bip39/ and paste your mnemonic phrase

3. At the bottom you should see a list of your "derived addresses" along with their private key

4. Now I have created a foolproof bitcoin signing tool which you can find here: https://ordinarydude.github.io/offline-bitcoin-signer/

5. Use the private key and the messages to obtain your signature.

Disclaimer: Use at own risk, the sources for the offline signing tool can be found here: https://github.com/OrdinaryDude/offline-bitcoin-signer
The paranoids download the code and sign on an offline machine!



Screenshots of this process:

[palawan]

TIP: For those who want to vote, but only have their blockchain.info mnemonic pass phrase.

1. Go to blockchain.info security center and backup your mnemonic phrase
(Its 12 words, for example "claw income cover upset below across idle cup course uniform tilt wheel")

2. Go to https://dcpos.github.io/bip39/ and paste your mnemonic phrase

3. At the bottom you should see a list of your "derived addresses" along with their private key

4. Now I have created a foolproof bitcoin signing tool which you can find here: https://ordinarydude.github.io/offline-bitcoin-signer/

5. Use the private key and the messages to obtain your signature.

Disclaimer: Use at own risk, the sources for the offline signing tool can be found here: https://github.com/OrdinaryDude/offline-bitcoin-signer
The paranoids download the code and sign on an offline machine!



Screenshots of this process:

Evil-Knievel, you are a renaissance man!

...deleted, i think Lannister created the voting app... 
"You need a signing app, too? ok, gimme 5 minutes....  ***tap, tap tap-on-github***,  here you go!"

Thank you, Sir!  Your work is amazing and much appreciated!

[unvoid]

@Evil-Knievel after vote on supply ends can we create another poll with question about minimum fee?

The voting software allows multiple parallel votes. We have discussed a few potential fee models here a few weeks ago, maybe we should brainstorm about what alternatives we have and put them up for vote?

For me best solution is where forgers set the fee in config file. But anyway, we cant parallel vote on min fee with vote on supply because fee for 5M will be much different than fee on 1B. So we should wait until voting for supply ends and then start vote on min fee.

[unvoid]

reserved

@Evil-Knievel, @Lannister please add to bot delete list posts that have only word "reserved".

[provenceday]

Reminder:

Don't forget to vote!!! Lannister has just put the voting site online at http://elastic.pro.

Topic of Decision:
To what value should the coin supply be scaled?

Vote Online Until:
2016-08-31 10:10:00 UTC

How to do it?
Click the "arrow up" to vote for one or more choices using Bitcoin signatures!!

thanks for the great work.

voted for 100M coin.

for future development, 100M coin is a nice number.

[Dave Wilkinson]

this seems like an excellent project, will be watching closely, its not often you find genuine projects these days 

[provenceday]

this seems like an excellent project, will be watching closely, its not often you find genuine projects these days 

this will become one of the best project this year. like Sia project.

[tomkat]

Guys, what about creating a reserve fund (or development fund)?
We could use the remainder of 1093510 XEL that are now left for distribution, so the fund would be 93510 XEL.
1M XEL would be distributed proportionally as planned.
The fund could be 2-of-3 multisig account with keys being held by dev, OP, and one of the top investors.
What do you think?

[Edit] The fund could be locked initially for some 2-3 years to avoid spending it instead of the donated BTC.

[trader19]

Guys, what about creating a reserve fund (or development fund)?
We could use the remainder of 1093510 XEL that are now left for distribution, so the fund would be 93510 XEL.
1M XEL would be distributed proportionally as planned.
The fund could be 2-of-3 multisig account with keys being held by dev, OP, and one of the top investors.
What do you think?

[Edit] The fund could be locked initially for some 2-3 years to avoid spending it instead of the donated BTC.

the remaining funds should be distributed among donators as initialy planned, alot of us donated also speculating on amout collected.. i am kind of suprised it got to 79%, not that i am complaning hehe

[Evil-Knievel]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

[MiningSev0]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

[notnormals]

I am having problems voting, it says it can't find my BTC address in the database. I have found the original spend on the genesis block and on block explorer, but none work.

Any ideas please?

[tomkat]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

[twistelaar]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

I think if the devs found this necesarry they already would have proposed that. So no worries about that

[ImI]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

You cant vote to breach a treaty. Even if there would be a 90/10 majority it would be wrong cause in its initial terms it was exactly stated that those funds will be deployed.

But that being said, no one hinders you/us to setup another development fund that is donated voluntarily.

[tomkat]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

You cant vote to breach a treaty. Even if there would be a 90/10 majority it would be wrong cause in its initial terms it was exactly stated that those funds will be deployed.

But that being said, no one hinders you/us to setup another development fund that is donated voluntarily.

The voting for changing the supply isn't breaching the treaty?

[ImI]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

You cant vote to breach a treaty. Even if there would be a 90/10 majority it would be wrong cause in its initial terms it was exactly stated that those funds will be deployed.

But that being said, no one hinders you/us to setup another development fund that is donated voluntarily.

The voting for changing the supply isn't breaching the treaty?

For sure nobody gets confiscated his funds in a forceful way.

Altering the total supply might be a change to the initial plan, thats right, but i doubt that even in front of a court a claim would have any chance of being heard. Its basically nothing else than a https://en.wikipedia.org/wiki/Stock_split which happens everyday in the world of finance and is nothing to complain about as you are not being confiscated anything. While in your scenario someone would be forced to give away value that he didnt want to give away. Thats something COMPLETELY different.

But like i said there is always a way to do this by free choice. Also the devs could take some of those BTC and buy XEL with them, just to be sure to profit from an eventual rise in XEL value.

[Mrboot]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

You cant vote to breach a treaty. Even if there would be a 90/10 majority it would be wrong cause in its initial terms it was exactly stated that those funds will be deployed.

But that being said, no one hinders you/us to setup another development fund that is donated voluntarily.

The voting for changing the supply isn't breaching the treaty?

For sure nobody gets confiscated his funds in a forceful way.

Altering the total supply might be a change to the initial plan, thats right, but i doubt that even in front of a court a claim would have any chance of being heard. Its basically nothing else than a https://en.wikipedia.org/wiki/Stock_split which happens everyday in the world of finance and is nothing to complain about as you are not being confiscated anything. While in your scenario someone would be forced to give away value that he didnt want to give away. Thats something COMPLETELY different.

But like i said there is always a way to do this by free choice. Also the devs could take some of those BTC and buy XEL with them, just to be sure to profit from an eventual rise in XEL value.

Taking BTC and buy XEL from them wont make any sense aswell, cause they give btc to themself then so that is actually the same.
What you can do is Make a donation wallet and people can donate (IF they want ofc) 10% of the coins they get extra, that will come to a nice amount of coins aswell.

Edit, unless they buy it from people wanna get out of XEL

[tomkat]

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!

I also totally agree!

No problem, but what if more funds will be needed in the future for the development?
Many coins have such funds, and 93.5k XEL isn't anything substantial, but it can grow to nice $$$ over years, so XEL will have an advantage over other coins.

Why can't we vote it?

You cant vote to breach a treaty. Even if there would be a 90/10 majority it would be wrong cause in its initial terms it was exactly stated that those funds will be deployed.

But that being said, no one hinders you/us to setup another development fund that is donated voluntarily.

The voting for changing the supply isn't breaching the treaty?

For sure nobody gets confiscated his funds in a forceful way.

Altering the total supply might be a change to the initial plan, thats right, but i doubt that even in front of a court a claim would have any chance of being heard. Its basically nothing else than a https://en.wikipedia.org/wiki/Stock_split which happens everyday in the world of finance and is nothing to complain about as you are not being confiscated anything. While in your scenario someone would be forced to give away value that he didnt want to give away. Thats something COMPLETELY different.

But like i said there is always a way to do this by free choice. Also the devs could take some of those BTC and buy XEL with them, just to be sure to profit from an eventual rise in XEL value.

Well, stock splits are meant to create volumes and my proposal is for creating additional value, and applies to less than 2% of coins. Splits may lead to high spreads, and sometimes a financial loss just because of the increased spread.

Over months/years the development funds will be drained to zero, and then the project will die, or the devs will ask for more funds, or someone will have to continue voluntarily.
That small amount of XEL would be an investment, and not confiscation.

Anyway, looks like there's no support for my idea - no problem with that