[ANN] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat*

[Crapsy]

So what's going on here? Was this just a bunch of smoke and mirror riding the Waves and Lisk hype train from earlier in the day cause that's the feeling I'm getting with nothing really being done in half a year.

I have to say that you landed here at the right moment. Launch is expected in 7-10 days.

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[LemonAndFriesOne]

Let's all hope for a succesful HEAT launch, it's our BTC at play here.

[StewieG]

Just a quick question, how would anybody mine the coin? Just wondering...

[bytemuma]

Let's all hope for a succesful HEAT launch, it's our BTC at play here.

I bought a small amount, i'm counting a smooth launch.
I don't mind to wait the time they need, just make a good product. Go HEAT.

[StewieG]

Just a quick question, how would anybody mine the coin? Just wondering...

HEAT is not a proof-of-work coin, like bitcoin mining, it uses a dual system of PoS (like forging or staking), and PoP when that is ready, here is some information about the block rewards from the original post below for you:

HYBRID BLOCK REWARDS

For its block rewards granted every 25 secs in average, HEAT uses twin system: half of the block reward comes from traditional PoS (Proof-of-Stake) algorithm, while the other half is granted on PoP (Proof-of-Presence) basis for nodes that host the block files online. The HEAT algorithm monitors the presence of block slice files, and assigns higher probability for slices that have a smaller number of copies online. That way any discrepancy arising in the relative number of different block files is attenuated.

Yeah great are there any details on how this works, because based on that I have no clue how it works. Also will there be a client one can use to mine?And if this algo that has never been used before is not even open source, none of the bigger exchanges will ever offer the coin as it is a security risk to run the client on their servers and nothing is verifyable, not even if the sending and receiving coins works correctly! Will the source code be open source at launch?

[mr.coinzy]

I second that question - will the source code be open at launch?
(Closed source = No chance for adoption anywhere by anyone and no chance for the coin being added for trading in any serious exchange)   

[Rasseloch]

The project is run by the following company:
https://tietopalvelu.ytj.fi/yritystiedot.aspx?yavain=2632757&tarkiste=6F2F5FD1A9DCD627A99BD02A8DADDC5ED1FDE31E

It means nothing that it is a real company, it is really easy to register in Finland.

Also FIMK is a REAL association: http://yhdistysrekisteri.prh.fi/nimihaku.htx?kieli=1&oskori=NEW&lajittelu=1&hakuraja=0&nimi=Krypto+Fin+ry&ni_re=CHECKED&ni_vi=CHECKED&ni_ai=CHECKED&ni_pu=CHECKED&kielikoodi=&kotipaikka=&sb_haku=Hae&reknro=&dnro=

And FIMK was a scam by Svante Lehtinen. He got money from investors but did not use funds to promote FIMK, instead he started a new ICO. Svante is pathological liar as we have seen, and believe me, he keeps on cheating... Just read his posts, look his history and draw your own conclusion.

[StewieG]

Just a quick question, how would anybody mine the coin? Just wondering...

HEAT is not a proof-of-work coin, like bitcoin mining, it uses a dual system of PoS (like forging or staking), and PoP when that is ready, here is some information about the block rewards from the original post below for you:

HYBRID BLOCK REWARDS

For its block rewards granted every 25 secs in average, HEAT uses twin system: half of the block reward comes from traditional PoS (Proof-of-Stake) algorithm, while the other half is granted on PoP (Proof-of-Presence) basis for nodes that host the block files online. The HEAT algorithm monitors the presence of block slice files, and assigns higher probability for slices that have a smaller number of copies online. That way any discrepancy arising in the relative number of different block files is attenuated.

Yeah great are there any details on how this works, because based on that I have no clue how it works. Also will there be a client one can use to mine?And if this algo that has never been used before is not even open source, none of the bigger exchanges will ever offer the coin as it is a security risk to run the client on their servers and nothing is verifyable, not even if the sending and receiving coins works correctly! Will the source code be open source at launch?

Proof of Stake is a well known method. PoP is indeed something new, and has to do with hosting block files online, using storage space on a computer to maintain the blockchain I think. Maybe the devs can reveal more information about PoP.

I second that question - will the source code be open at launch?
(Closed source = No chance for adoption anywhere by anyone and no chance for the coin being added for trading in any serious exchange)  

Maybe 100% of the code for all the components will be open source immediately. Even if some components are held as not open source upon launch, it does not mean that these smaller components will be closed source forever, and it does not mean there is no chance for being added to any serious exchange or adoption anywhere. Even if that is the case for a temporary period to give a mover advantage on cloning innovations.

This can be seen I suppose by NEM (which has as of now ~ 31 million USD marketcap): https://en.wikipedia.org/wiki/NEM_(cryptocurrency)

Although the NEM client is open source and available on github,[7] the NEM server based component, the NIS, is closed source and the binary is obfuscated to presumably prevent decompilers from revealing how it works."

I'm not sure if the NIS component is now open source after some time, that could be the case now.

So there is really nothing out there about PoP? I mean it is a highly complex thing to give money out based on providing info that you have a certain file?! And then there is only one developer working on it? One developer who has been descibed as a "genius coder" by a man who has by all means proven to be completely incompetent. The dev even said that he has no clue about cryptocoins. Has he even discussed his ideas with anyone?! I mean everybody can makes mistakes and I am pretty sure mistakes will be in the HEAT code too and even worse in the protocol as it has not been revealed to anybody as far as i can see?! Is this maybe the reason they want to keep it closed source? 

[StewieG]

It means nothing that it is a real company, it is really easy to register in Finland.

Great, didn't this Savanthe guy say it would be hard work to open a company in Finland and lots of the funds went in that?! I still want to see an expenses sheet. Where did our money go? Certainly not in marketing the coin. Certainly not in development as there is still only one guy developing it in secrecy somewhere. I have no clue what they did with > 200k$ ? Where did it go? do they keep it still in crypto? Is it at bank account? Nobody knows... They want to sell company shares in february or something, wouldn't it be a great opportunity now to show potential investors that they can handle their money by providing an expenses sheet? Why are they not doing that?

[Crapsy]

It means nothing that it is a real company, it is really easy to register in Finland.

Also FIMK is a REAL association: http://yhdistysrekisteri.prh.fi/nimihaku.htx?kieli=1&oskori=NEW&lajittelu=1&hakuraja=0&nimi=Krypto+Fin+ry&ni_re=CHECKED&ni_vi=CHECKED&ni_ai=CHECKED&ni_pu=CHECKED&kielikoodi=&kotipaikka=&sb_haku=Hae&reknro=&dnro=

You point that out like there would be something illegal with FIMK while there is none. And what comes to company legislations in Finland, tough my man, tough.

FIMK has only one problem, it is run by a non-profit association which has no appeal to investors outside of the crypto-realm. So, and this is my conclusion, you have to be a dumb-f*ck to keep on hitting the same wall with FIMK if you have all that potential in the technology but there is a wall in front of you. I think it was more than creative to ride the evolution and come out with HEAT. And let's not forget about FIMK, it is not dead. I'm forging at the moment waiting for HEAT to turn its course too

[Rasseloch]

My point was, you can not figure out that Heat is not a scam by posting many times company registration details. Thats all what you have to support your opinion? It does not proof anything even you deeply believe it does.

How about if you based your opinion on facts, FIMK is worthless and Svante Lehtinen did not use funds to promote FIMK as was the deal when he collected funds from investors.

Costs in Finland to establish limited company:

Registration fee: 380€ + starting equity 2500€, which can be spend for company's operations. And whole process is possible to make via online service.

[Crapsy]

My point was, you can not figure out that Heat is not a scam by posting many times company registration details. Thats all what you have to support your opinion? It does not proof anything even you deeply believe it does.

Your logic should work both ways my friend, shouldn't it?

By the way, FIMK was never worthless. And still isn't. You can even use it now to improve your health and nutrition habits.

[StewieG]

My point was, you can not figure out that Heat is not a scam by posting many times company registration details. Thats all what you have to support your opinion? It does not proof anything even you deeply believe it does.

Your logic should work both ways my friend, shouldn't it?

By the way, FIMK was never worthless. And still isn't. You can even use it now to improve your health and nutrition habits.

That was not his point, his point was that "they"(another user did...) post ONLY company registration details and that THAT is no proof! The point was that they COULD post other things like an expenses sheet that would not proof that this is no scam but would contribute to a higher certainty that this is no scam! From what we can see now from all the postings and not providing info, it looks as they are trying as hard as they can to make us believe it is a scam! Why not provide a detailed list of all the expenses they had?! Easiest guest, because it went into  their pockets... I mean there is no reasonable reason not to provide an expenses sheet. This just looks sooo very fishy, even a nigerian scammer would laugh about it and give the FIMK guys props for fooling their investors!

[bigpattywhack]

So what's going on here? Was this just a bunch of smoke and mirror riding the Waves and Lisk hype train from earlier in the day cause that's the feeling I'm getting with nothing really being done in half a year.

I wouldn't call it smoke and mirrors.
https://bitcointalk.org/index.php?topic=1543991.msg17088037#msg17088037

"To give an impression of memory cost required imagine a moment in the future where we have 1,000,000 open orders on the blockchain. This would cost us 8MB of RAM which I believe is not that much. Even further down the road we should still be able to support 100 million open orders since this costs just 100 times more RAM or approx 800MB, still perfectly fine and still possible to run from most desktop PC's."

https://bitcointalk.org/index.php?topic=1543991.msg17314536#msg17314536
http://alpha.heatledger.com/api/

http://heatledger.net/index.php?topic=35.msg367#msg367
"Microservices are npm packages, the idea being that people will publish their js code on npmjs.org. "

Just the tip of the iceberg.

Feels like smoke and mirrors to me man. You sure your not part of the con?

[johny08]

The project is run by the following company:
https://tietopalvelu.ytj.fi/yritystiedot.aspx?yavain=2632757&tarkiste=6F2F5FD1A9DCD627A99BD02A8DADDC5ED1FDE31E

It means nothing that it is a real company, it is really easy to register in Finland.

Also FIMK is a REAL association: http://yhdistysrekisteri.prh.fi/nimihaku.htx?kieli=1&oskori=NEW&lajittelu=1&hakuraja=0&nimi=Krypto+Fin+ry&ni_re=CHECKED&ni_vi=CHECKED&ni_ai=CHECKED&ni_pu=CHECKED&kielikoodi=&kotipaikka=&sb_haku=Hae&reknro=&dnro=

And FIMK was a scam by Svante Lehtinen. He got money from investors but did not use funds to promote FIMK, instead he started a new ICO. Svante is pathological liar as we have seen, and believe me, he keeps on cheating... Just read his posts, look his history and draw your own conclusion.

Look at fimk. Its horse shit. It was quite intelligent not to promote and start over. And yeah i know, heat will be not better.

Once its open source i am sure people are going to clone it and making it better and faster then heat itself.

[Crapsy]

Everybody should remember that as the launch is getting closer, the exchanges have been advised to implement the multiplier to HEAT-balances before blockchain release.

[bcmine]

So what's going on here? Was this just a bunch of smoke and mirror riding the Waves and Lisk hype train from earlier in the day cause that's the feeling I'm getting with nothing really being done in half a year.

I wouldn't call it smoke and mirrors.
https://bitcointalk.org/index.php?topic=1543991.msg17088037#msg17088037

"To give an impression of memory cost required imagine a moment in the future where we have 1,000,000 open orders on the blockchain. This would cost us 8MB of RAM which I believe is not that much. Even further down the road we should still be able to support 100 million open orders since this costs just 100 times more RAM or approx 800MB, still perfectly fine and still possible to run from most desktop PC's."

https://bitcointalk.org/index.php?topic=1543991.msg17314536#msg17314536
http://alpha.heatledger.com/api/

http://heatledger.net/index.php?topic=35.msg367#msg367
"Microservices are npm packages, the idea being that people will publish their js code on npmjs.org. "

Just the tip of the iceberg.

i would like to see an interview with the devs on coin interview again. That would be really great. There is nothing more convincing then an update on screen. It would be also a good method to let us all settle a little bit, after destructive talk here and facing reality, what the people invested in and if there is a demand for the IPO

[shirkan]

Do I understand correctly that if within 1-2 days the multiplier will be applied on ccex, then they will be 50% more coins so the price will fall down accordingly, so this might be Last Opportunity to sell over 5000 and yet coins of many investors are still locked?

1+1 = 2

[Crapsy]

alcurex will have multiplier too right?

C-CEX
AlcurEx
OpenLedger

Those exchanges have been used for prelaunch tokens, so yes.

[sulfurtank]

The project is run by the following company:
https://tietopalvelu.ytj.fi/yritystiedot.aspx?yavain=2632757&tarkiste=6F2F5FD1A9DCD627A99BD02A8DADDC5ED1FDE31E

It means nothing that it is a real company, it is really easy to register in Finland.

Also FIMK is a REAL association: http://yhdistysrekisteri.prh.fi/nimihaku.htx?kieli=1&oskori=NEW&lajittelu=1&hakuraja=0&nimi=Krypto+Fin+ry&ni_re=CHECKED&ni_vi=CHECKED&ni_ai=CHECKED&ni_pu=CHECKED&kielikoodi=&kotipaikka=&sb_haku=Hae&reknro=&dnro=

And FIMK was a scam by Svante Lehtinen. He got money from investors but did not use funds to promote FIMK, instead he started a new ICO. Svante is pathological liar as we have seen, and believe me, he keeps on cheating... Just read his posts, look his history and draw your own conclusion.

Look at fimk. Its horse shit. It was quite intelligent not to promote and start over. And yeah i know, heat will be not better.

Once its open source i am sure people are going to clone it and making it better and faster then heat itself.

Whats the incentive for anybody to clone finnish shit that is about to collapse harder than supernova in the center of universe?