[IOTA] IOTA Speculation

[Come-from-Beyond]

BTW, escrow agents can use

Code:

{"command":"findTransactions","addresses":["999"]}

in console.html to check if a seller has sent the iotas to the buyer (it doesn't mean that the transfer will ever be confirmed though).

BTC should not be released yet, but the sellers could transfer the sold iotas now. If a rollback happens they may need to repeat the transfers.

I advice the escrow agents to request iota transfers from the sellers to protect interests of the buyers (and help us with testing).

PS: Probably the easiest is just to ask the buyer if he has got the iotas to his account. In this case the amount and the fact that the transfer was confirmed can be verified reliably.

[yassin54]

BTW, escrow agents can use

Code:

{"command":"findTransactions","addresses":["999"]}

in console.html to check if a seller has sent the iotas to the buyer (it doesn't mean that the transfer will ever be confirmed though).

BTC should not be released yet, but the sellers could transfer the sold iotas now. If a rollback happens they may need to repeat the transfers.

I advice the escrow agents to request iota transfers from the sellers to protect interests of the buyers (and help us with testing).

PS: Probably the easiest is just to ask the buyer if he has got the iotas to his account. In this case the amount and the fact that the transfer was confirmed can be verified reliably.

Thanks for this command!!  

[tobeaj2mer01]

BTW, escrow agents can use

Code:

{"command":"findTransactions","addresses":["999"]}

in console.html to check if a seller has sent the iotas to the buyer (it doesn't mean that the transfer will ever be confirmed though).

BTC should not be released yet, but the sellers could transfer the sold iotas now. If a rollback happens they may need to repeat the transfers.

I advice the escrow agents to request iota transfers from the sellers to protect interests of the buyers (and help us with testing).

PS: Probably the easiest is just to ask the buyer if he has got the iotas to his account. In this case the amount and the fact that the transfer was confirmed can be verified reliably.

It seems this command only can find transactions without transferred amount, is there any other command to show the exact IOTA amount in transaction?

For example, I get this output when I use this command in console.html.

{"solidSubtangle": true, "hashes": ["NGOPGOUPZK9QUODDYKUHWOZQAWJJEADF9OWBFKPPLTMBRUGPL9AELCMY9QUMEXKHWNDIVPDG9GBHJY9 99", "P9KFHVKKQNZMDF9TGFLJHJXRMUZMHEQUOEGYEFXXXKZODLVXE9CSLUITJQWPZZMZNDFALGDLRBAZHG9 99"]}

[Come-from-Beyond]

It seems this command only can find transactions without transferred amount, is there any other command to show the exact IOTA amount in transaction?

For example, I get this output when I use this command in console.html.

{"solidSubtangle": true, "hashes": ["NGOPGOUPZK9QUODDYKUHWOZQAWJJEADF9OWBFKPPLTMBRUGPL9AELCMY9QUMEXKHWNDIVPDG9GBHJY9 99", "P9KFHVKKQNZMDF9TGFLJHJXRMUZMHEQUOEGYEFXXXKZODLVXE9CSLUITJQWPZZMZNDFALGDLRBAZHG9 99"]}

The sequence of commands for getting the amount is long, better wait for https://www.tangle.ninja/explorer.

[cryptonikus]

I cant even read those new numbers. Dealing in iotas is now overcomplicated, needs to be in some smarter units similar to metric.

[Lazz]

I cant even read those new numbers. Dealing in iotas is now overcomplicated, needs to be in some smarter units similar to metric.

It was decided  that iota uses SI measuring system. It actually doesnt make the numbers very different that way. For example if you had 1 000 000 old iotas, they are now 2 779 531 Mega IOTAs. So we are still dealing with human friendly millions if you put it this way. I wish people would just start using this mega iota way of talking about them so everyone could understand easily.

[achimsmile]

I cant even read those new numbers. Dealing in iotas is now overcomplicated, needs to be in some smarter units similar to metric.

Think of it the same way as you would with disk space: 16GB, 2TB etc.
In iota: 1Mi, 1Gi, 1Ti. Easy.

[AltcoinScamfinder]

I cant even read those new numbers. Dealing in iotas is now overcomplicated, needs to be in some smarter units similar to metric.

Think of it the same way as you would with disk space: 16GB, 2TB etc.
In iota: 1Mi, 1Gi, 1Ti. Easy.

Not to mention that once exchanges open, you don't really have to count them manually.

[iotatoken]

Yes, we have made the official decision to use the SI system as it is the closest to an international standard that we can come:

http://physics.nist.gov/cuu/Units/prefixes.html

[ozboom]

I think we should post a clear explanation for the rationale behind the new iota total supply on all forums/chats to make things clear for everyone, especially newbies entering the sphere. Someone with basic math knowledge has to understand it straight away. I didn't get it clearly myself, although I'm trying to keep up with Rocket chat and forums. If you manage to explain it to me, I'll gladly post it elsewhere.
Nxt turned out to be a big PR mess. Let's do a better job with Iota from the start...  

[iotatoken]

I think we should post a clear explanation for the rationale behind the new iota total supply on all forums/chats to make things clear for everyone, especially newbies entering the sphere. Someone with basic math knowledge has to understand it straight away. I didn't get it clearly myself, although I'm trying to keep up with Rocket chat and forums. If you manage to explain it to me, I'll gladly post it elsewhere.
Nxt turned out to be a big PR mess. Let's do a better job with Iota from the start...  

It has been explained in a full post on the forum last week.

[achimsmile]

I think we should post a clear explanation for the rationale behind the new iota total supply on all forums/chats to make things clear for everyone, especially newbies entering the sphere. Someone with basic math knowledge has to understand it straight away. I didn't get it clearly myself, although I'm trying to keep up with Rocket chat and forums. If you manage to explain it to me, I'll gladly post it elsewhere.
Nxt turned out to be a big PR mess. Let's do a better job with Iota from the start...  

It has been explained in a full post on the forum last week.

http://forum.iotatoken.com/t/iota-tech-update

[trolleroo]

Hey there, friends.
I'd like to know if the price at iotawallet.com is updated, and if it is the megaIOTAS price (¿ or in what sub unit it is based on).
Thank you 

[achimsmile]

Hey there, friends.
I'd like to know if the price at iotawallet.com is updated, and if it is the megaIOTAS price (¿ or in what sub unit it is based on).
Thank you 

1$ will get you very roughly 230 Mi at the moment

[farl4web]

I think we should post a clear explanation for the rationale behind the new iota total supply on all forums/chats to make things clear for everyone, especially newbies entering the sphere. Someone with basic math knowledge has to understand it straight away. I didn't get it clearly myself, although I'm trying to keep up with Rocket chat and forums. If you manage to explain it to me, I'll gladly post it elsewhere.
Nxt turned out to be a big PR mess. Let's do a better job with Iota from the start...  

It has been explained in a full post on the forum last week.

http://forum.iotatoken.com/t/iota-tech-update

Would be nice for new people to add it to the website and OP too. 

[_mr_e]

My up to date sale amounts:

111,181,240,000.00 Sold @ 1 btc  cc001
333,543,720,000.00 @ 3btc schnib
222,362,480,000.00 @ 2btc Metaphilibert
111,181,240,000.00 @ 1 btc Yeash20
333,543,720,000.00 @ 3 btc arjen01
166,771,860,000.00 @ 1.5btc MoneyTeam
11,118,124,000.00  @ 0.1btc tk88one
138,976,550,000.00 @ 1.25 btc proto
22,236,248,000.00 @ 0.2 btc adam9910
222,362,480,000.00 @ 2 btc Dexter12
8,894,499,200,000.00 @ 80 Btc bigiotabig
55,590,620,000.00 @ 0.5 Btc Torn
111,181,240,000.00 @ 1 btc zzzman20
111,181,240,000.00 @ 1 btc transpotime21bus
333,543,720,000.00 @ 3btc RamsRoyal

Thanks again to my buyers!

I still have more available for sale at a rate of 1BTC for 111,181,240,000.00 (NEW) IOTA (40,000 OLD)!!! Please contact me if interested!

Still have more for sale, please contact me if interested, but my price is non-negotiable.

[mr001]

My up to date sale amounts:

111,181,240,000.00 Sold @ 1 btc  cc001
333,543,720,000.00 @ 3btc schnib
222,362,480,000.00 @ 2btc Metaphilibert
111,181,240,000.00 @ 1 btc Yeash20
333,543,720,000.00 @ 3 btc arjen01
166,771,860,000.00 @ 1.5btc MoneyTeam
11,118,124,000.00  @ 0.1btc tk88one
138,976,550,000.00 @ 1.25 btc proto
22,236,248,000.00 @ 0.2 btc adam9910
222,362,480,000.00 @ 2 btc Dexter12
8,894,499,200,000.00 @ 80 Btc bigiotabig
55,590,620,000.00 @ 0.5 Btc Torn
111,181,240,000.00 @ 1 btc zzzman20
111,181,240,000.00 @ 1 btc transpotime21bus
333,543,720,000.00 @ 3btc RamsRoyal

Thanks again to my buyers!

I still have more available for sale at a rate of 1BTC for 111,181,240,000.00 (NEW) IOTA (40,000 OLD)!!! Please contact me if interested!

Still have more for sale, please contact me if interested, but my price is non-negotiable.

Hi, i want to buy for 2 BTC with escrow. Please explain me how to proceed?

[ozboom]

I think we should post a clear explanation for the rationale behind the new iota total supply on all forums/chats to make things clear for everyone, especially newbies entering the sphere. Someone with basic math knowledge has to understand it straight away. I didn't get it clearly myself, although I'm trying to keep up with Rocket chat and forums. If you manage to explain it to me, I'll gladly post it elsewhere.
Nxt turned out to be a big PR mess. Let's do a better job with Iota from the start...  

It has been explained in a full post on the forum last week.

OK, I read the post but it didn't make too much sense to me. I could work it out backwards though, and found this:
New total supply = [(3^33) - 1] / 2 = 2,779,530,283,277,761
Why write N and not 33 ?
I understand that because of working with trits, numbers are handled in their ternary form as powers of three, which explains our beautiful 3 multiplied 33 times by itself number. I suppose using trits in IoT is related to the efficiency of the balanced ternary logic and its easy application to electronics (positive, zero and negative tensions are easily applied and differentiated).
Now by subtracting 1 from 3^33, the result becomes pair and can be divided by 2. But why divide our nice number by 2 ? Would it not have fitted the JavaScript [cx Number.MAX_SAFE_INTEGER] as is? Is this really necessary?
I now understand ifinta's proposal: instead of doing  [(3^33) - 1] / 2 he goes for  [(3^32)-1] / 2 =  9.265×10¹⁴ ~= 10¹⁵
Not as clean looking as the devs choice maybe, but somewhat more human friendly.
While we are at it, here is another one:  [(3^35) - 2] / 5 = 1,000630902×10¹⁶ ~= 10¹⁶
Thanks for your comments 

[Come-from-Beyond]

But why divide our nice number by 2 ? Would it not have fitted the JavaScript [cx Number.MAX_SAFE_INTEGER] as is? Is this really necessary?
Thanks for your comments  

In balanced trinary all numbers are signed. We divide by 2 to get number of positive values.

[ozboom]

But why divide our nice number by 2 ? Would it not have fitted the JavaScript [cx Number.MAX_SAFE_INTEGER] as is? Is this really necessary?
Thanks for your comments  

In balanced trinary all numbers are signed. We divide by 2 to get number of positive values.

So dividing by 2 provides an extra 'bit' (or a 'trit' with only two values: -1 and +1) for writing positive AND negative numbers, if I understand this right....
The JavaScript [cx Number.MAX_SAFE_INTEGER] allows for integers
 from -9.01×10¹⁵ to +9.01×10¹⁵
while we now can write numbers
 from -2.78×10¹⁵ to +2.78×10¹⁵
using 33 trits + 1 trit for the sign...

 Thanks for the explanation!