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Author Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer  (Read 448525 times)
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Mrboot
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August 22, 2016, 01:21:09 PM
 #1341

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
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August 22, 2016, 01:51:20 PM
 #1342

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 Smiley
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August 22, 2016, 02:00:38 PM
 #1343

the remaining funds should be distributed among donators as initialy planned

I totally agree with that!
I also totally agree!

i also agree with it.

but i am also open to vote for this if we want.  Wink
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August 22, 2016, 07:19:04 PM
 #1344


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.


Let's not forget its a "donation" not an ICO.
I think they have stated we don't actually have any formal rights about this.
Obviously we trust them not to run away with "donations" but talking about treaties in this case takes it a bit too far I believe

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August 23, 2016, 08:00:41 AM
 #1345

Any wallet soon ? Sorry i don.t have much time to watch the thread Sad .

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snowboard789
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August 23, 2016, 09:22:21 AM
 #1346

how will we claim our XEL? sorry for this very noob question but I only sent to the address of the ICO from my Electrum wallet.
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August 23, 2016, 09:23:37 AM
 #1347

Any wallet soon ? Sorry i don.t have much time to watch the thread Sad .

Maybe in a few weeks, so far it is testing now, just wait for the XEL tokens   Wink
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August 23, 2016, 10:33:15 AM
 #1348

So 280BTC already spent?

https://blockexplorer.com/address/3Q2aKEGFTKDw3hghsBifXp39CZVMtZukxn

BTC: 1CMgHWx4wkAaAy2FfeCyPdedUExmhGhfi5
XEL: XEL-HCM8-KB6E-YFLK-8BWMF
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August 23, 2016, 10:53:21 AM
 #1349


Well they are all donations, do you expect them to just keep it in their wallet?
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August 23, 2016, 11:18:06 AM
 #1350


Well they are all donations, do you expect them to just keep it in their wallet?

Just with that rate of spending in about one month there will be no more BTC for developing. I'm just curious if this amount was spent or moved somewhere else. Another curiosity is that all that BTC where pushed trough mixing/laundering software. I know @Lannister is trying best to be anonymous but some info would be good for us all.

BTC: 1CMgHWx4wkAaAy2FfeCyPdedUExmhGhfi5
XEL: XEL-HCM8-KB6E-YFLK-8BWMF
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August 23, 2016, 11:29:19 AM
 #1351

I don't understand how the voting works. I have 4 inputs for my transaction, I tried to sign the message with every single one but I get the message they are not in the database. Step by step instructions for idiots please?  Roll Eyes
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August 23, 2016, 11:29:57 AM
 #1352


Well they are all donations, do you expect them to just keep it in their wallet?

Just with that rate of spending in about one month there will be no more BTC for developing. I'm just curious if this amount was spent or moved somewhere else. Another curiosity is that all that BTC where pushed trough mixing/laundering software. I know @Lannister is trying best to be anonymous but some info would be good for us all.

It's all good , they should have some real $$ to live vs having BTC. You can't pay bills in BTC (yet) or your children's school
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August 23, 2016, 11:56:34 AM
 #1353


Well they are all donations, do you expect them to just keep it in their wallet?

Just with that rate of spending in about one month there will be no more BTC for developing. I'm just curious if this amount was spent or moved somewhere else. Another curiosity is that all that BTC where pushed trough mixing/laundering software. I know @Lannister is trying best to be anonymous but some info would be good for us all.

It's all good , they should have some real $$ to live vs having BTC. You can't pay bills in BTC (yet) or your children's school

they probably want to hedge against possible BTC drop, that caught ETH out
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August 23, 2016, 05:30:06 PM
 #1354


Well they are all donations, do you expect them to just keep it in their wallet?

Just with that rate of spending in about one month there will be no more BTC for developing. I'm just curious if this amount was spent or moved somewhere else. Another curiosity is that all that BTC where pushed trough mixing/laundering software. I know @Lannister is trying best to be anonymous but some info would be good for us all.

It's all good , they should have some real $$ to live vs having BTC. You can't pay bills in BTC (yet) or your children's school

they probably want to hedge against possible BTC drop, that caught ETH out
BTC drop - wtf??? are you insane?
laundering these btc makes me think this was a fake. say bye to your btc
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August 23, 2016, 06:21:58 PM
 #1355


Well they are all donations, do you expect them to just keep it in their wallet?

Just with that rate of spending in about one month there will be no more BTC for developing. I'm just curious if this amount was spent or moved somewhere else. Another curiosity is that all that BTC where pushed trough mixing/laundering software. I know @Lannister is trying best to be anonymous but some info would be good for us all.

It's all good , they should have some real $$ to live vs having BTC. You can't pay bills in BTC (yet) or your children's school

they probably want to hedge against possible BTC drop, that caught ETH out
BTC drop - wtf??? are you insane?
laundering these btc makes me think this was a fake. say bye to your btc


Don't rush your tongue. @Evil-Knievel had to sign those transactions so I think once he show up here he will give us more info. What make me curious is what @Lannister told to @Evil-Knievel that he signed all those transactions with his key. Perhaps just moving BTC to another address I hope. Would be awesome if there will be some BTC if some other developer want to join in few months.

BTC: 1CMgHWx4wkAaAy2FfeCyPdedUExmhGhfi5
XEL: XEL-HCM8-KB6E-YFLK-8BWMF
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August 23, 2016, 06:39:28 PM
 #1356


Well they are all donations, do you expect them to just keep it in their wallet?

Just with that rate of spending in about one month there will be no more BTC for developing. I'm just curious if this amount was spent or moved somewhere else. Another curiosity is that all that BTC where pushed trough mixing/laundering software. I know @Lannister is trying best to be anonymous but some info would be good for us all.

It's all good , they should have some real $$ to live vs having BTC. You can't pay bills in BTC (yet) or your children's school

they probably want to hedge against possible BTC drop, that caught ETH out
BTC drop - wtf??? are you insane?
laundering these btc makes me think this was a fake. say bye to your btc


Don't rush your tongue. @Evil-Knievel had to sign those transactions so I think once he show up here he will give us more info. What make me curious is what @Lannister told to @Evil-Knievel that he signed all those transactions with his key. Perhaps just moving BTC to another address I hope. Would be awesome if there will be some BTC if some other developer want to join in few months.

they are free to do with those BTCs whatever they choose to. if they spent it all on coke&hookers no reason for complain, its not like those funds were thought for further work that has to be done or something, they were though as voluntary donation to make this project real. thats it. nothing to discuss imo.
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August 23, 2016, 07:10:52 PM
 #1357

laundering these btc makes me think this was a fake. say bye to your btc

I will not start lamenting at the overall lack of respect and reverence some people display online, but some really dig it. I will not blame you for that. Since you are not the brightest spoon in the drawer, i suspect this is a classic example of the Dunning Kruger effect unfolding before our eyes. So I think it is time to add you to the blocklist. Please, let's try to keep it civil in here.

No, I will not disclose my real name on the Internet. The very simple reason I’m anonymous is so that I can talk freely about a free web. One mistake people often make is having the faulty assumption that knowing my real name or my association with a respected person, group or organization might get them to trust me more. In fact, I have no authority here. Elastic Project is a loosely associated group of developers which constantly changes over time. If you prefer projects with a more centralized structure, then please move on. Specifically, I kindly ask you to refrain from any messages that try to convince me of the contrary. My time is too valuable to be wasted with the same discussion again and again.
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August 23, 2016, 07:25:03 PM
 #1358


Btw looks like we have with 100M a clear favorite so far.  Smiley
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August 23, 2016, 08:02:30 PM
 #1359

Don't rush your tongue. @Evil-Knievel had to sign those transactions so I think once he show up here he will give us more info. What make me curious is what @Lannister told to @Evil-Knievel that he signed all those transactions with his key. Perhaps just moving BTC to another address I hope. Would be awesome if there will be some BTC if some other developer want to join in few months.

They were indeed moved elsewhere!
I just want to point out what most people forget: No matter who holds, receives or earns BTC ... in all cases taxes have to be paid. That means income taxes, VAT, and some other minor crap which means that half of the BTC are essentially gone by the beginning of the next year. Holding BTC imho is very risky business. The taxes are calculated based on the value the coins had at the time they were received. If the value of BTC drops by 50% it essentially means you're broke, because (as I said) the taxes will be calculated from the original value (before the drop) and you have to suddenly sell all of your BTC (or if you're unlucky even more) to cover the tax debts.  Wink
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August 23, 2016, 08:02:52 PM
 #1360


Btw looks like we have with 100M a clear favorite so far.  Smiley
I would rather stand out from the generic amount other projects chose. But it should still function as intended with 100 mil
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