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Author Topic: [ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today!  (Read 460222 times)
Bige086
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April 27, 2016, 10:25:30 PM
 #581

The most important thing is not the conversion price of XPY swap, but it was really happened or not.

In many case, a coin dev burns the unsold amount of ICO from premine. then let people know it via blockchain with Tx.

I've keep asked ION team of burning the rest. Mr.coin told me that Huey(Adam ?) is too busy to burn. I wonder he is still busy.

I like concept of this coin.

I've really enjoyed red rocket of Zencloud. I really like game, especially Battle Field4.

However, I can't trust this coin.

He's too busy to click 5 times and type a value in?

Some information I saw on slack awhile back was that the wallet won't send over 100,000 xpy at a time without crashing and the wallet.dat becomes corrupt after a few burnings due to the crashes. They then need to recover the wallets to resume burning. There are 4 million that still need burning.
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CryptoBuds
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April 27, 2016, 10:51:14 PM
 #582

The most important thing is not the conversion price of XPY swap, but it was really happened or not.

In many case, a coin dev burns the unsold amount of ICO from premine. then let people know it via blockchain with Tx.

I've keep asked ION team of burning the rest. Mr.coin told me that Huey(Adam ?) is too busy to burn. I wonder he is still busy.

I like concept of this coin.

I've really enjoyed red rocket of Zencloud. I really like game, especially Battle Field4.

However, I can't trust this coin.

He's too busy to click 5 times and type a value in?

He has num lock off so the key pad won't work. A ticket has been submitted.

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customcontract.network

sknowden
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April 27, 2016, 10:57:55 PM
 #583

Quote
the wallet won't send over 100,000 xpy at a time without crashing and the wallet.dat becomes corrupt after a few burnings due to the crashes. They then need to recover the wallets to resume burning. There are 4 million that still need burning.

Good lord! I knew the wallet was bad, but no wonder they needed to leave XPY in the dust.
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April 27, 2016, 11:41:17 PM
 #584

Quote
the wallet won't send over 100,000 xpy at a time without crashing and the wallet.dat becomes corrupt after a few burnings due to the crashes. They then need to recover the wallets to resume burning. There are 4 million that still need burning.

Good lord! I knew the wallet was bad, but no wonder they needed to leave XPY in the dust.

why didnt the ionomy devs fix the small wallet bug then burn?

why didnt they generate burn addresses for each customer and check address before giving ion? use a block explorer and do it that way to avoid double handling?
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April 28, 2016, 01:05:55 AM
 #585

Quote
the wallet won't send over 100,000 xpy at a time without crashing and the wallet.dat becomes corrupt after a few burnings due to the crashes. They then need to recover the wallets to resume burning. There are 4 million that still need burning.

Good lord! I knew the wallet was bad, but no wonder they needed to leave XPY in the dust.

why didnt the ionomy devs fix the small wallet bug then burn?

why didnt they generate burn addresses for each customer and check address before giving ion? use a block explorer and do it that way to avoid double handling?

They seem to be afraid of or against the blockchain. They do everything in their power to keep things off chain so information is obscured.

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customcontract.network

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April 28, 2016, 01:23:35 AM
Last edit: April 28, 2016, 03:14:19 AM by o0o0
 #586

Quote
the wallet won't send over 100,000 xpy at a time without crashing and the wallet.dat becomes corrupt after a few burnings due to the crashes. They then need to recover the wallets to resume burning. There are 4 million that still need burning.

Good lord! I knew the wallet was bad, but no wonder they needed to leave XPY in the dust.

why didnt the ionomy devs fix the small wallet bug then burn?

why didnt they generate burn addresses for each customer and check address before giving ion? use a block explorer and do it that way to avoid double handling?

They seem to be afraid of or against the blockchain. They do everything in their power to keep things off chain so information is obscured.

i got it. maybe the burn address is
1burn.....
genius... GAWsome
Cayuga
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April 28, 2016, 10:20:01 AM
Last edit: April 28, 2016, 10:58:58 AM by Cayuga
 #587

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.
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April 28, 2016, 12:14:09 PM
 #588

How is it going my fellow scambuchidos?
CryptoBuds
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April 28, 2016, 12:14:30 PM
 #589

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

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customcontract.network

Cayuga
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April 28, 2016, 12:22:30 PM
 #590

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.
CryptoBuds
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Merit: 1000



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April 28, 2016, 01:21:21 PM
 #591

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

So you are saying the term "whale" was never used to describe how many XPYbits someone bought then?

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customcontract.network

Mrdeeds
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Merit: 10


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April 28, 2016, 01:43:17 PM
 #592

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

So you are saying the term "whale" was never used to describe how many XPYbits someone bought then?

I don't see him saying that, do you? What does it even matter. Looks like every little thing is now being used against this ico. What a soap this is becoming to be here. Honestly I don't blame the team that they are only answering questions through their Slack channel. No use to fight against this hate. There won't be much people giving them a chance to at least explain things. So why bother...

(                       incent                       )
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BETTER LOYALTY THROUGH SMARTER REWARDS
skinnyboy
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April 28, 2016, 01:49:07 PM
 #593


 Honestly I don't blame the team that they are only answering questions through their Slack channel. No use to fight against this hate. There won't be much people giving them a chance to at least explain things. So why bother...

It's not as if they've actually tried responding to peoples questions, is it?

Has any more information been released to the general public regarding the nature of their business, or any actual response to the fact that they made the claim to be a registered business when they actually aren't?

If questions had been answered then there wouldn't be people still asking them, or having to present their own maths.

Cayuga
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April 28, 2016, 02:44:20 PM
 #594

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

So you are saying the term "whale" was never used to describe how many XPYbits someone bought then?

Lol, no, the term "whale" on the xpy platform meant that you funded so much that you were allowed to think about the future of the platform. So, not as in whales who own many coins. The crowd funding and the term whale was indepent of how many coins someone owned. But keep asking questions about whales  Wink
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April 28, 2016, 04:41:07 PM
 #595

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

So you are saying the term "whale" was never used to describe how many XPYbits someone bought then?

I don't see him saying that, do you? What does it even matter. Looks like every little thing is now being used against this ico. What a soap this is becoming to be here. Honestly I don't blame the team that they are only answering questions through their Slack channel. No use to fight against this hate. There won't be much people giving them a chance to at least explain things. So why bother...

How come you only come on here to defend??? Why don't you answer some of the questions that people have and then we won't be left to our own vices to speculate what is going on. Novel concept, eh?

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CryptoBuds
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April 28, 2016, 04:42:46 PM
 #596

Lets play stats since i like to number crunch a little to help me decide things.

Lets start with some knowns that were stated in announcement and whitepaper

BTC price @ $450
$1.00 in satoshi is 0.00222222
0.20c in satoshi is 0.00044444
0.10c in satoshi is 0.00022222

Ion

Blocks (1440 per day)
- 1 min blocks (60 blocks an hour)
- 1440 blocks per day (24 x 60)

Masternodes
- 50% of block reward
- 1st year is 11.5 per block
- a masternode costs 20,000 ion which is locked whilst in masternode.

Rewards per block
- year 1 --> 23 per block (really 11.5 as 11.5 goes to masternode owner)
- year 2 --> 17 per block (really 8.5 as 8.5 goes to masternode owner)

Premine (10.9 million all up)
- 3.4 million to incentives and give aways
- 2.5 million to bounties and coin development
- 5.0 million to ico customers

Prices
- ico price starting 20c going to 25c
- xpy swap equiv 8:1 around 8c

NOW for the unknown questions
--------------------
- since they are their escrow and haven't detailed how funds are released who is paid and paid what and how often. For all we know the could be their own devs paying themselves "until a decent one is found or whatever". They could pay themselves x to do the clone and change or pay a coin server to make it for a low price x and pay themselves a management fee or whatever.

- Funds haven't been deemed to be in a locked state not used for any other purpose in the meantime so we have to assume that they "can" be.

Ok lets get cracking.....

total premine - estimated deducted
10.9m - 1.25m (xpy swap) - 1.5m (potential sold due to $300,000 figure mentioned @ 20c)
= 8,150,000 ion coins sitting around

lets turn this all into masternodes (to secure the network of course)
8,150,000 / 20,000
= 407.5 masternodes... so lets round this down to 400 masternodes for a nice round calculation remember we are dealing with unknown potentials so lets keep it rough.

OK now lets see what the masternodes make per day. If 1 masternode secured all the transactions then
day value = 1440 blocks * 50% block reward
= 1440 * 11.5
= 16,560 ion generated.

Now the only competing masternodes ARE those that ico bought not xpy swapped (these are locked in 6,9,12 stakers and i'm sure they aren't removable as why would you let customers compete with your sales?).

So customer masternodes assuming 1 person purchased ALL ico (remember being rough so we can get max masternodes customers could have)
1,500,000 / 20,000
= 75

So all up we have 400 company nodes and 75 customer nodes..
company percent = 400 / 475 * 100 = 84.21% approx.. lets round this down to 84%
customer percent = 75 / 475 * 100 = 15.78% approx... lets round this up to 16% so we get a nice 100% combined.

so... 16,500 ion a day in masternodes
company = 16500 * 0.84 = 13,860 (or another masternode every 2 days to increase their percent)
customer = 16500 * 0.16 = 2640 (or a masternode every 8 days to increase their percent comapny is faster)

OK apologies for the length but we are getting there...
- Nobody sells for less than they buy unless its out of fear which is usually after time to transfer assets if unhappy or drops in price in panic
- stakers are all locked in so they have to wait
- most want to stake to return price and make profit
- only those that don't pay for their coins will sell at any price (company)
- company could masternode profit with the capital before use.

So in 9 months there is restricted market competition as long as someone with free coins sold less than those with paid.
Ignore the 8c xpy conversion ones as those are locked... therefore the minimum fear sell value is 20c (or less again if you have free)

Lets assume 20c a coin it stays at max and 5c at min.
If all masternode coins were sold at a point or over time you'd make (ignoring coins made from daily node rewards)
@ 20c --> 8,150,000 * 0.20 = $1,630,000
@ 5c --> 8,150,000 * 0.05 = $407,500

Node profits "per day" if they don't sell any masternodes ... from before
company - 13,860 * 0.20 = $2772 max (6.16btc) and 13,860 * 0.05 = $693 min
customer - 2,640 * 0.20 = $528 max and 2640 * 0.05 = $132 min

therefore you can make in 9 months (270 days)
$2772 * 270 = $748,440 with no real competition then sell masternodes back OR you can make some more nodes sell some as cash.

to buy a masternode is 20,000 x $0.20 or $4000 ... days to break even on it are crazy if you are competing with the above and have 1.. your percent decreases each day as the highers earn more and more to create more masternodes.

Remember only 3 peoples names are on whitepaper.. does that mean the above is split between 3? Who knows there is no full list of the staff and what each does... we only know Richard Nelson = Support Director. Adam Matlack - white paper writer... no other declared role but has involvement.

Closing remarks
-------------------
Does everyone now see how important transparency is? Simple things like tracking addresses and keeping people honest and doing calcs for some due dilligence show you how potentially bad your investment could be. Don't take this as investment advice do the figures yourself and make your mind up but personally with comments like
- we can't trust third parties to hold coins they could run
- refusing to provide info and respond to questions

Can lead to the above scenario of pain. The only people with nothing to lose are those with free premines. Those who spend have to at least make what they buy for with price.

You might say BUT BUT BUT the coin will go up. Well thats great but remember
- preminers have more coins than you to exhaust so can reduce that price.
- pumps can happen by others but again they can sell.

There so data... take it to bits look at it contest it etc.

@MrCoins i assume you did the above and can explain why in your opinion and case it seemed to you to be worth risking with little to no info other than whitepaper.
Be aware this is public info on their site and this topic 1st post so anything others know that isn't available to all buyers i guess is inside information and maybe insider trading?

Comments thoughts etc? Sorry for the long ass post but had to put it all together... this gives people a point to look at AND DEMAND addresses premine burn etc are all public. Garza's stand was we aren't giving it to people just because they don't believe us... those that agreed were fooled once.. time to not be fooled again.


Kudos for the number crunching. I think the number of customer master nodes will be higher, already in the first year. The initial crowd funding in 2015 was done by buying xpybits, now called atoms in the new platform. There is a total of 100K atoms (capped). About 500 atoms are for sale on the platform right now (auction). For every atom, customers will receive 8 ions when the ICO ends. These ions will be locked up in 3 month stakers too, but will be available for creating master nodes after the stakers expire. Whales or customer groups will profit from those master nodes, and create more of them.

So previously with this "team" you could pay to publicly be considered a "whale"? That may be one of the funniest, most desperate things I have ever seen. Great plan: create and promote elitism!

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

So you are saying the term "whale" was never used to describe how many XPYbits someone bought then?

Lol, no, the term "whale" on the xpy platform meant that you funded so much that you were allowed to think about the future of the platform. So, not as in whales who own many coins. The crowd funding and the term whale was indepent of how many coins someone owned. But keep asking questions about whales  Wink

Ok then. What's your favorite type of whale? Mine is the blue whale.

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April 28, 2016, 04:50:28 PM
 #597

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

How is it a "bonus" if the thing you crowdfunded doesn't even exist anymore? I think you meant "bait and switch".

What's the wallet address for the xpy.io crowdfunding? Or is it again one of those things where y'all just trusted each other? Did they take XPY or BTC?

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April 29, 2016, 08:22:48 AM
 #598

No, the crowd funding in 2015 was started for the xpy.io platform, to fund the platform, and to get more influence on the direction of the platform. At that time no one except the team knew about the iON ICO. So, this was an unexpected bonus for many of us.

How is it a "bonus" if the thing you crowdfunded doesn't even exist anymore? I think you meant "bait and switch".

What's the wallet address for the xpy.io crowdfunding? Or is it again one of those things where y'all just trusted each other? Did they take XPY or BTC?

The "thing" we crowdfunded still exists, it is the platform. So, we invested in the development of the platform. We did not invest in a coin. This secure and reliable platform still exists (in fact it could be used for other POS coins as well btw). And now we will receive 8 iONs for every atom. For me that is a bonus. And you can call it whatever you like of course Wink
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April 29, 2016, 09:01:44 AM
 #599

Wheres the github at?
I'd like to know that, too.
Is there a github yet?
Cayuga
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April 29, 2016, 09:37:26 AM
 #600

Wheres the github at?
I'd like to know that, too.
Is there a github yet?

https://github.com/ionomy

I read there that the source will be uploaded on May 16th when the wallets are released.
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