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Author Topic: [ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today!  (Read 454586 times)
WildShark
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August 12, 2016, 02:08:21 PM
 #2761

Thank you for your response. It is nice to see some addresses and be able to see what they are being used for. T appears right now they are stored in MN's, which is great, helps the network. Kinda curious as to what happens with the minted coins but I do think I remember Huey saying they were gonna be burned.

@CryptoBuds The Bounty coins are not in MNs and the minting of the coins will not be burned. The initial deposit into the wallet had to be exactly 20K to be a MN.


How did you determine these are in MNs? I believe 20k is correct per node and you have to have 20k in one transaction. Having 100k in a wallet says it's not a MN but just a standard staking wallet correct?

@Mr.Pelican you are correct in saying the Bounty coins are currently in a staking wallet earning stakes to offset inflation of the coin.

Those addresses appear to be getting half of the block reward. Masternodes receive half the block reward, no? If hey we're normal staking wallets wouldn't the reward vary and not be exactly half of he block reward?

If they are not in MNs why are they getting half the block reward then?

When a block is rewarded, the staking wallet gets 50% of the reward and the Masternodes gets 50% of the reward plus transaction fees for that block. That's why U are seeing exactly 11.5 IONs when minting of the Bounty wallets occurs.


"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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August 12, 2016, 02:11:36 PM
 #2762

Thank you for your response. It is nice to see some addresses and be able to see what they are being used for. T appears right now they are stored in MN's, which is great, helps the network. Kinda curious as to what happens with the minted coins but I do think I remember Huey saying they were gonna be burned.

@CryptoBuds The Bounty coins are not in MNs and the minting of the coins will not be burned. The initial deposit into the wallet had to be exactly 20K to be a MN.


How did you determine these are in MNs? I believe 20k is correct per node and you have to have 20k in one transaction. Having 100k in a wallet says it's not a MN but just a standard staking wallet correct?

@Mr.Pelican you are correct in saying the Bounty coins are currently in a staking wallet earning stakes to offset inflation of the coin.

Those addresses appear to be getting half of the block reward. Masternodes receive half the block reward, no? If hey we're normal staking wallets wouldn't the reward vary and not be exactly half of he block reward?

If they are not in MNs why are they getting half the block reward then?

When a block is rewarded, the staking wallet gets 50% of the reward and the Masternodes gets 50% of the reward plus transaction fees for that block. That's why U are seeing 11.5 IONs when minting of the Bounty wallets.



So every staking address get 11.5 IONs every time there is a stake, correct?

I'm still confused how it is controlling coin inflation by the team keeping the coins and not letting the customers who paid for their coins get them. If they are not burning them the coins exist and can be spent.

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August 12, 2016, 02:15:55 PM
 #2763

Thank you for your response. It is nice to see some addresses and be able to see what they are being used for. T appears right now they are stored in MN's, which is great, helps the network. Kinda curious as to what happens with the minted coins but I do think I remember Huey saying they were gonna be burned.

@CryptoBuds The Bounty coins are not in MNs and the minting of the coins will not be burned. The initial deposit into the wallet had to be exactly 20K to be a MN.


How did you determine these are in MNs? I believe 20k is correct per node and you have to have 20k in one transaction. Having 100k in a wallet says it's not a MN but just a standard staking wallet correct?

@Mr.Pelican you are correct in saying the Bounty coins are currently in a staking wallet earning stakes to offset inflation of the coin.

Those addresses appear to be getting half of the block reward. Masternodes receive half the block reward, no? If hey we're normal staking wallets wouldn't the reward vary and not be exactly half of he block reward?

If they are not in MNs why are they getting half the block reward then?

When a block is rewarded, the staking wallet gets 50% of the reward and the Masternodes gets 50% of the reward plus transaction fees for that block. That's why U are seeing 11.5 IONs when minting of the Bounty wallets.



So every staking address get 11.5 IONs every time there is a stake, correct?

only one of the wallets gets the block reward and one of the masternodes gets the reward plus transaction fees for that block.

"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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August 12, 2016, 02:16:03 PM
 #2764

Is there a list of all Masternode addresses somewhere available?

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CryptoBuds
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August 12, 2016, 02:18:28 PM
 #2765

Thank you for your response. It is nice to see some addresses and be able to see what they are being used for. T appears right now they are stored in MN's, which is great, helps the network. Kinda curious as to what happens with the minted coins but I do think I remember Huey saying they were gonna be burned.

@CryptoBuds The Bounty coins are not in MNs and the minting of the coins will not be burned. The initial deposit into the wallet had to be exactly 20K to be a MN.


How did you determine these are in MNs? I believe 20k is correct per node and you have to have 20k in one transaction. Having 100k in a wallet says it's not a MN but just a standard staking wallet correct?

@Mr.Pelican you are correct in saying the Bounty coins are currently in a staking wallet earning stakes to offset inflation of the coin.

Those addresses appear to be getting half of the block reward. Masternodes receive half the block reward, no? If hey we're normal staking wallets wouldn't the reward vary and not be exactly half of he block reward?

If they are not in MNs why are they getting half the block reward then?

When a block is rewarded, the staking wallet gets 50% of the reward and the Masternodes gets 50% of the reward plus transaction fees for that block. That's why U are seeing 11.5 IONs when minting of the Bounty wallets.



So every staking address get 11.5 IONs every time there is a stake, correct?

only one of the wallets gets the block reward and one of the masternodes gets the reward plus transaction fees for that block.

Thanks for clarifying.

Could you address the coin inflation statement you made above? The team getting those stakes via the bounty addresses isn't addressing inflation. It's just putting those coins in the teams hands instead of the customers. The way I see it that is. There may be something I am missing. But if a coin is minted, that coin was produced.

I appreciate you taking the time to answer.

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August 12, 2016, 02:19:54 PM
 #2766

Is there a list of all Masternode addresses somewhere available?

yes the information is available in every ION wallet under the Masternodes menu item. Looking at my wallet, I currently see 131 masternodes online...

"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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August 12, 2016, 02:31:15 PM
 #2767

Is there a list of all Masternode addresses somewhere available?

yes the information is available in every ION wallet under the Masternodes menu item. Looking at my wallet, I currently see 131 masternodes online...

Is there a list available for people that don't have a wallet? I'd like to check a few out and see how they function and behave for a few days. Would like to get a better understanding of how the coin works.

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August 12, 2016, 02:35:36 PM
 #2768

Is there a list of all Masternode addresses somewhere available?

yes the information is available in every ION wallet under the Masternodes menu item. Looking at my wallet, I currently see 131 masternodes online...

Is there a list available for people that don't have a wallet? I'd like to check a few out and see how they function and behave for a few days. Would like to get a better understanding of how the coin works.

The list of Masternodes are maintained by the ION Network and only available thru the ION QT wallets or remote calls to a wallet thru the wallet's API.

"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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August 12, 2016, 02:49:09 PM
 #2769

Proof of burn, already posted before;
https://chainz.cryptoid.info/xpy/#@inflation

Coins were used for network testing, was told will be recombined later but does not matter.
They dont reside with specific team members. Read up on the whitepaper, https://github.com/ionomy/ion/wiki/ION-Technical-Whitepaper
Quote
2.5 million IONs are reserved to pay bounties for coin development.


Thanks rdw, however:

As already mentioned above staking that wallet is just asinine. First of all, such amounts should be offline for safety. Second, they're robbing their own bagholders. Third, it makes the network more centralized and if their node goes down it would probably cause some lengthy block times until diff adjusts. We already had hours-long blocks when they moved 2 million coins. Nice people. Anyway, that's between the "team" and the bagholders so whatever.

But how about the remaining coins still not accounted for:

5 million IONs will be available through the Initial Coin Offering (ICO) in exchange for BTC and a wide selection of other cryptocurrencies.
3.4 million IONs are allocated to ionomy.com and shall be distributed as structured incentives to gamers through the gaming applications designed by ionomy.com.
2.5 million IONs are reserved to pay bounties for coin development. done

And the ICO bitcoins of course - where are those?

As for the XPY burn - they claimed to have collected 10 million XPY but only burned about half of it. AFAIK they haven't even published the addresses of the coins that haven't been burned yet.

Edit: There is nothing new in this info BTW, the dev bounty and the XPY partial burn were known months ago. If you asked recently and got these answers you're just being played. Although there is some weird movement from what was presumably the old dev bounty address but I don't know if that's even worth looking into:

https://chainz.cryptoid.info/ion/address.dws?ih4X5nhzYVi6Nd4tcGX1qvtC47dzdThZV8.htm

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August 12, 2016, 03:11:09 PM
 #2770

Yep, those wallets staking are just stealing coins from the customers that paid for their ION. The people that made it out of thin air are taking advantage of the people that paid good money for their coins. Not quite sure how this is seen as acceptable.

I would also like to know how the team staking those coins is controlling inflation? It seems like stealing more than inflation control. But what do I know...

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August 12, 2016, 03:36:06 PM
 #2771

Is there a list of all Masternode addresses somewhere available?

yes the information is available in every ION wallet under the Masternodes menu item. Looking at my wallet, I currently see 131 masternodes online...

Is there a list available for people that don't have a wallet? I'd like to check a few out and see how they function and behave for a few days. Would like to get a better understanding of how the coin works.

The list of Masternodes are maintained by the ION Network and only available thru the ION QT wallets or remote calls to a wallet thru the wallet's API.

Only through the wallet, not on the website correct? Can I download the QT from the ionomy.com site?

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suchmoon
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August 12, 2016, 03:54:31 PM
 #2772

Yep, those wallets staking are just stealing coins from the customers that paid for their ION. The people that made it out of thin air are taking advantage of the people that paid good money for their coins. Not quite sure how this is seen as acceptable.

I would also like to know how the team staking those coins is controlling inflation? It seems like stealing more than inflation control. But what do I know...

Block reward is a fixed amount. Technically there should be no difference how many nodes are staking - the inflation should be the same. That doesn't mean they couldn't have messed it up somehow, genius developers and all.

Other coins that stake based on APY (e.g. Paycoin) would have variable inflation depending on how many coins are online. So if "inflation control" means "maximum inflation" then yes, they should put as many coins as possible online. This doesn't apply to ION however.

Only through the wallet, not on the website correct? Can I download the QT from the ionomy.com site?

Not quite, but it links to GH: https://ionomy.com/download

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August 12, 2016, 04:33:12 PM
Last edit: August 12, 2016, 05:16:09 PM by CryptoBuds
 #2773

Hmmm...seems that the site is down or not functioning.

Edit: seems to be back.

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August 12, 2016, 11:38:13 PM
 #2774

Is it possible that "earning stakes to offset inflation of the coin" is IONese for "creating more coins out of thin air so that people will turn 1 ion worth X into more than 1 ion worth X because there is no reason for the price to go up?"
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August 13, 2016, 11:14:40 AM
 #2775

Is it possible that "earning stakes to offset inflation of the coin" is IONese for "creating more coins out of thin air so that people will turn 1 ion worth X into more than 1 ion worth X because there is no reason for the price to go up?"
You just don't understand. The more coins the better. I'm sure some of these XPY / ION bagholders have millions of DOGE, too. Because they're smart. Roll Eyes
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August 13, 2016, 05:04:36 PM
Last edit: August 13, 2016, 05:21:15 PM by WildShark
 #2776

You just don't understand. The more coins the better. I'm sure some of these XPY / ION bagholders have millions of DOGE, too. Because they're smart. Roll Eyes

The more coin minted (block reward) from Ionomy staking, wallet staking, masternode or CMN shares, the more profit I am making... especial with the price of ION increasing!!!!

I'm also mining with my GPU for ETH and making a small profit from that...

"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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August 13, 2016, 05:21:47 PM
 #2777

You just don't understand. The more coins the better. I'm sure some of these XPY / ION bagholders have millions of DOGE, too. Because they're smart. Roll Eyes

The more coin minted (block reward) from Ionomy staking, wallet staking, masternode or CMN shares, the more profit I am making... especial with the price of ION increasing!!!!

I guess if you rotate this chart you might find a position where it points directly to the moon... but for us regular unedumacated folks it looks like it's flatlining:


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August 13, 2016, 05:27:40 PM
 #2778

You just don't understand. The more coins the better. I'm sure some of these XPY / ION bagholders have millions of DOGE, too. Because they're smart. Roll Eyes

The more coin minted (block reward) from Ionomy staking, wallet staking, masternode or CMN shares, the more profit I am making... especial with the price of ION increasing!!!!

I'm also mining with my GPU for ETH and making a small profit from that...

With all due respect, you only realize profit when you sell IONs. Until then no profit is had. Are you selling your stake rewards? Or are you saving and staking more.

This was an XPY fallacy. I haven't lost anything cause I haven't sold.

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August 13, 2016, 05:28:51 PM
Last edit: August 13, 2016, 07:16:59 PM by WildShark
 #2779

You just don't understand. The more coins the better. I'm sure some of these XPY / ION bagholders have millions of DOGE, too. Because they're smart. Roll Eyes

The more coin minted (block reward) from Ionomy staking, wallet staking, masternode or CMN shares, the more profit I am making... especial with the price of ION increasing!!!!

I guess if you rotate this chart you might find a position where it points directly to the moon... but for us regular unedumacated folks it looks like it's flatlining holding level and starting to increase:


I do my shopping/trading on the Ionomy exchange and the price is on the climb...

https://ionomy.slack.com/files/wild_i-o-n_shark/F215RDZL7/exchange_screen.jpg

"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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August 13, 2016, 05:32:18 PM
Last edit: August 13, 2016, 06:45:11 PM by WildShark
 #2780

You just don't understand. The more coins the better. I'm sure some of these XPY / ION bagholders have millions of DOGE, too. Because they're smart. Roll Eyes

The more coin minted (block reward) from Ionomy staking, wallet staking, masternode or CMN shares, the more profit I am making... especial with the price of ION increasing!!!!

I'm also mining with my GPU for ETH and making a small profit from that...

With all due respect, you only realize profit when you sell IONs. Until then no profit is had. Are you selling your stake rewards? Or are you saving and staking more.

This was an XPY fallacy. I haven't lost anything cause I haven't sold.

I've have made 3.5+K dollars since the start of ION... and still have the same amount of coins I initially started with...

"Wild onION" Visit the depot using the following invitation @ http://invite.wildsdepot.com
ION Master Node[10K IONs] + ION Smart Node[500 Atoms] + All ION Staking Wallets = 18 IONs Block Reward for WILD Innovative ION Network ownership (WIN concept)
Plan Details: https://bitcointalk.org/index.php?topic=1443633.msg50248724#msg50248724
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