[ANN] æternity blockchain ∞ AE TOKEN ∞ [PoW & PoS | Oracles | Smart Contracts]

[sammy007]

The current vote concerns the so-called Block Reward Initiative (BRI), i.e. the community is voting on whether to give between 0% and 20% of mining revenue to developers. Those funds will go entirely to development and the goal of this vote is to guarantee the sustainability and continuous development of the æternity blockchain.

No guarantees since they have no obligation of reporting expenses, no way for participants to control on what they are going to spend funds and how careful they are going to spend. If you give them this cut they literally free to write a hefty paycheque to themselves just like if officials will decide how much bonuses they need for "serving and protecting" taxpayers. If you have hefty continuous money flow you don't take care of how wasteful your expenses are, you just spend.

Instead of giving away funds to this team on their sole discretion we must push them to introduce a process similar to Monero funding system.
Those who want to do development must write a proposal and community will vote for it, pledge money into a smart contract and after each milestone completion remit money by approving payment. It gives a control to the community over money flows.

[aeternity]

The current vote concerns the so-called Block Reward Initiative (BRI), i.e. the community is voting on whether to give between 0% and 20% of mining revenue to developers. Those funds will go entirely to development and the goal of this vote is to guarantee the sustainability and continuous development of the æternity blockchain.

No guarantees since they have no obligation of reporting expenses, no way for participants to control on what they are going to spend funds and how careful they are going to spend. If you give them this cut they literally free to write a hefty paycheque to themselves just like if officials will decide how much bonuses they need for "serving and protecting" taxpayers. If you have hefty continuous money flow you don't take care of how wasteful your expenses are, you just spend.

Instead of giving away funds to this team on their sole discretion we must push them to introduce a process similar to Monero funding system.
Those who want to do development must write a proposal and community will vote for it, pledge money into a smart contract and after each milestone completion remit money by approving payment. It gives a control to the community over money flows.

Up until now, the æternity team has respected all the commitments it made to the community, as long as they were achievable in the given circumstances. We said it several times and we'll say it again - none of those funds will go to the non-dev team. They will be solely dedicated to the continuous development of the project.

One more thing - if the community should vote on every dev project before releasing the money, that would delay the process too much.

Best,
The AE Team

[sammy007]

The current vote concerns the so-called Block Reward Initiative (BRI), i.e. the community is voting on whether to give between 0% and 20% of mining revenue to developers. Those funds will go entirely to development and the goal of this vote is to guarantee the sustainability and continuous development of the æternity blockchain.

No guarantees since they have no obligation of reporting expenses, no way for participants to control on what they are going to spend funds and how careful they are going to spend. If you give them this cut they literally free to write a hefty paycheque to themselves just like if officials will decide how much bonuses they need for "serving and protecting" taxpayers. If you have hefty continuous money flow you don't take care of how wasteful your expenses are, you just spend.

Instead of giving away funds to this team on their sole discretion we must push them to introduce a process similar to Monero funding system.
Those who want to do development must write a proposal and community will vote for it, pledge money into a smart contract and after each milestone completion remit money by approving payment. It gives a control to the community over money flows.

Up until now, the æternity team has respected all the commitments it made to the community, as long as they were achievable in the given circumstances. We said it several times and we'll say it again - none of those funds will go to the non-dev team. They will be solely dedicated to the continuous development of the project.

One more thing - if the community should vote on every dev project before releasing the money, that would delay the process too much.

Best,
The AE Team

You have got hundreds of millions in funding and almost 20% of tokens in existence, why you need another stake NOW?. Your past achievements does not matter at all. Normal governance model I introduced is sound and rational. The model you want is the end of governance, a money grab. Once you are getting a cut after this poll you no longer need any governance. That poll is a fraud.

[LordAltcoin]

"You have got hundreds of millions in funding and almost 20% of tokens in existence, why you need another stake NOW?. Your past achievements does not matter at all. Normal governance model I introduced is sound and rational. The model you want is the end of governance, a money grab. Once you are getting a cut after this poll you no longer need any governance. That poll is a fraud."

+100


Its pure greed.  The voting is totally stacked against investor as teams tokens outweigh all others.

Let me predict the future.  20% will be given to the team, Hey, dont we all want a nice Jet Set, around the world, staying in high end hotels, eating the best food, having the best "escorts", just like the Zcash Dev.

The value of the coin will go to hell......

No one will invest in $AE....

Bag holders REKT.

You guys "AE Team" must be blowing through the Cash quick if you now need to do the Zcash cash grab. 

[aeternity]

You have got hundreds of millions in funding and almost 20% of tokens in existence, why you need another stake NOW?. Your past achievements does not matter at all. Normal governance model I introduced is sound and rational. The model you want is the end of governance, a money grab. Once you are getting a cut after this poll you no longer need any governance. That poll is a fraud.

"Your past achievements does not matter at all." If you really believe that, you understand nothing about blockchain development. This is just the first vote, there will be more. We'll consider it to be a successful governance model if as many people as possible vote.

Best,
The AE Team

[sammy007]

You have got hundreds of millions in funding and almost 20% of tokens in existence, why you need another stake NOW?. Your past achievements does not matter at all. Normal governance model I introduced is sound and rational. The model you want is the end of governance, a money grab. Once you are getting a cut after this poll you no longer need any governance. That poll is a fraud.

"Your past achievements does not matter at all." If you really believe that, you understand nothing about blockchain development. This is just the first vote, there will be more. We'll consider it to be a successful governance model if as many people as possible vote.

Best,
The AE Team

Hilarious joke by office manager. Now tell me why you need a stake NOW? Because you first introduced sick inflation and want to take a cut of it as soon as possible before any significant decline in block reward. You think people here are retarded (mostly true) and this cut will be not noticeable because nobody spend money directly, I would say that in order to make development process sound and rational people must pay real money out of the pocket to support project. That's why people must vote per milestone, and stop bullshitting about it being "slow". It's a false narrative.

I propose another voting, reduce block reward before AE value hits the dust and introduce tail emission.

You said you have got funding for years to come, well, there is a time to develop a sound funding system and stop pushing that irresponsible taxation model which gives your team millions of dollars on your sole discretion. You said everything will be used for development? What stops you from writing a paycheque saying $1,000,000 for fixing a typo in a code comment? Nothing.



Also, stop pretending that you are a "community" project. You are a firm running a coin for the money people gave you. Model which I introduced allows community to vote for 3rd party developers, not approved by your firm. People can even fund full or part-time developers based on their trust for quarters for example.

"Your past achievements does not matter at all." If you really believe that...

Yes, actually I treat it as a series of steps to acquire existing funding and continue milking the chain you have created. By introducing this outrageous request you simply destroyed all the trust you had.

[sammy007]

Small correction, previously I wrote they have raised 250,000,000 but it was a mistake, $25,000,000 actually. My bad, but it changes nothing. Still huge money stake, it's enough to pay for development for years to come if you don't throw money left and right on luxury hotels and private jets.

[aeternity]

Hilarious joke by office manager. Now tell me why you need a stake NOW? Because you first introduced sick inflation and want to take a cut of it as soon as possible before any significant decline in block reward. You think people here are retarded (mostly true) and this cut will be not noticeable because nobody spend money directly, I would say that in order to make development process sound and rational people must pay real money out of the pocket to support project. That's why people must vote per milestone, and stop bullshitting about it being "slow". It's a false narrative.

I propose another voting, reduce block reward before AE value hits the dust and introduce tail emission.

You said you have got funding for years to come, well, there is a time to develop a sound funding system and stop pushing that irresponsible taxation model which gives your team millions of dollars on your sole discretion. You said everything will be used for development? What stops you from writing a paycheque saying $1,000,000 for fixing a typo in a code comment? Nothing.

- This would not be a stake. We confirmed during the AMA session we organized on Monday that these funds are to be spent on development projects, and not to be staked.
- It is not a false narrative - if such a vote should be organized for each separate development project before the work could start, that would delay the workflow significantly. We got feedback by the community that future votes should have longer voting periods, so the whole process will take even more time.
- We do have funding, this is not the goal of this vote (as we said several times already). We just want to stay ahead and ensure the project's sustainability for the years to come.
- You will be able to propose other votes very soon and you can also propose a block reward cut.

Best,
The AE Team

[aeternity]

Small correction, previously I wrote they have raised 250,000,000 but it was a mistake, $25,000,000 actually. My bad, but it changes nothing. Still huge money stake, it's enough to pay for development for years to come if you don't throw money left and right on luxury hotels and private jets.

If you have any proofs that the team travel in private jets or stay in luxury hotels or throw money away for that matter, please provide them here.

[sammy007]

- This would not be a stake. We confirmed during the AMA session we organized on Monday that these funds are to be spent on development projects, and not to be staked.
- It is not a false narrative - if such a vote should be organized for each separate development project before the work could start, that would delay the workflow significantly. We got feedback by the community that future votes should have longer voting periods, so the whole process will take even more time.
- We do have funding, this is not the goal of this vote (as we said several times already). We just want to stay ahead and ensure the project's sustainability for the years to come.
- You will be able to propose other votes very soon and you can also propose a block reward cut.

Best,
The AE Team

By saying stake I mean a pile of cash literally, not referring to PoS or voting power here. It's pretty possible though, until your addresses are not banned from it on protocol level.
Vote per milestone is not slow, anyone can introduce a project, split on milestones and let users fulfil requirements.  Every sound project must do that any way, then few weeks for well planned project is not an issue. There is no even need for governance and long voting process, people read the paper and send money to smart contract. Examine dash and monero funding proposals.

I already wrote many times you are asking money to spend on development on your sole discretion it means there is no obligations to spend it carefully and it leads to corruption.

Block reward governance is retarded. It must be sealed and sound, but you screwed whole emission because you had a hidden secret plan to take a cut from it. You already damaged AE value and future by rolling out such a sneaky strategy.

[sammy007]

Small correction, previously I wrote they have raised 250,000,000 but it was a mistake, $25,000,000 actually. My bad, but it changes nothing. Still huge money stake, it's enough to pay for development for years to come if you don't throw money left and right on luxury hotels and private jets.

If you have any proofs that the team travel in private jets or stay in luxury hotels or throw money away for that matter, please provide them here.

I never accused you of misappropriation, I said it's possible. And the key of governance is to remove power from your firm and transfer it to the crowd. Current poll is like an election of the dictator, pretty stupid.

[aeternity]

- This would not be a stake. We confirmed during the AMA session we organized on Monday that these funds are to be spent on development projects, and not to be staked.
- It is not a false narrative - if such a vote should be organized for each separate development project before the work could start, that would delay the workflow significantly. We got feedback by the community that future votes should have longer voting periods, so the whole process will take even more time.
- We do have funding, this is not the goal of this vote (as we said several times already). We just want to stay ahead and ensure the project's sustainability for the years to come.
- You will be able to propose other votes very soon and you can also propose a block reward cut.

Best,
The AE Team

By saying stake I mean a pile of cash literally, not referring to PoS or "governance" here. Vote per milestone is not slow, anyone can introduce a project, split on milestones and let users fulfil requirements.  Every sound project must do that any way, then few weeks for well planned project is not an issue. There is no even need for governance and long voting process, people read the paper and send money to smart contract. Examine dash and monero funding proposals.

I already wrote many times you are asking money to spend on development on your sole discretion it means there is no obligations to spend it carefully and it leads to corruption.

Block reward governance is retarded. It must be sealed and sound, but you screwed whole emission because you had a hidden secret plan to take a cut from it. You already damaged AE value and future by rolling out such a sneaky strategy.

If we follow your suggestion, the dev projects would compete between themselves for funding, right? When a developer introduces a project, they will have to defend what/why/how they want to create. I personally don't believe that the whole community would be prepared enough technically to judge what should be implemented and how and what is more urgent (I don't mean to offend anyone, many people in the crypto space are not devs). Do you?

[sammy007]

If we follow your suggestion, the dev projects would compete between themselves for funding, right? When a developer introduces a project, they will have to defend what/why/how they want to create. I personally don't believe that the whole community would be prepared enough technically to judge what should be implemented and how and what is more urgent (I don't mean to offend anyone, many people in the crypto space are not devs). Do you?

There is no big competition among BIPs and EIPs. Once again, you just confirmed that you are going to decide it all by yourself. There is nothing left to talk about IMO.

AE is not a venture chain, if somebody want to write an app for it it does not mean they must be paid out of the block reward at all. It must be commercial project, a DEX or craptokitties or something else. Could be even ICO scam just like AE on ethereum. There could be many other projects on AE with their own funding model. And none of them must be paid by taxpayers (I presume you are mature enough to understand that block cut is literally a taxation model).

App ecosystem for a blockchain project must be a natural process of the grow, you provide base system (epoch) and some basic apps like wallets. The rest will either appear organically or never appear at all.

Well, it seems you pretty much CEO happy and you want free money so you will manage them on your sole discretion. Seriously, after reading this I see no reason to continue this dialog.

[aeternity]

If we follow your suggestion, the dev projects would compete between themselves for funding, right? When a developer introduces a project, they will have to defend what/why/how they want to create. I personally don't believe that the whole community would be prepared enough technically to judge what should be implemented and how and what is more urgent (I don't mean to offend anyone, many people in the crypto space are not devs). Do you?

There is no big competition among BIPs and EIPs. Once again, you just confirmed that you are going to decide it all by yourself. There is nothing left to talk about IMO.

AE is not a venture chain, if somebody want to write an app for it it does not mean they must be paid out of the block reward at all. It must be commercial project, a DEX or craptokitties or something else. Could be even ICO scam just like AE on ethereum. There could be many other projects on AE with their own funding model. And none of them must be paid by taxpayers (I presume you are mature enough to understand that block cut is literally a taxation model).

App ecosystem for a blockchain project must be a natural process of the grow, you provide base system (epoch) and some basic apps like wallets. The rest will either appear organically or never appear at all.

Well, it seems you pretty much CEO happy and you want free money so you will manage them on your sole discretion. Seriously, after reading this I see no reason to continue this dialog.

The BRI won't be spent on æpps, but on protocol development solely. We indicated that in the initial announcement blog post.

Best,
The AE Team

[sammy007]

The conclusion: any commercial cryptocurrency is broken. Just like this one. We see it clearly it's a firm running coin and want to milk it. Just like Electric Coin Company (ZCash).

What actually happened? There was an ICO, people bought in, a social contract when people give money, getting token and hope those who have given money will pump their "share" in exchange for bootstrap. A criminal homeostasis of crypto society. It never happened and actually opposite happened, coin is in massive decline, tax model will completely kill it. It's a time to turn off the light.

[sammy007]

The BRI won't be spent on æpps, but on protocol development solely. We indicated that in the initial announcement blog post.

Best,
The AE Team

Oh great so there is no need for hurrying. You have money for years to come and later when project will be very mature and solid all the development should go through community approval process, not plebs but some authoritative participants. Via a series AeIP, long discussion and approval/funding process.

But we all know you are not that stupid to not understand it. All you need is more money.

[aeternity]

Hello everyone,

Just a general reminder about the 2 Mining Guides Bounties!

The deadline is in 2 days - May 10th, so hurry up and win a reward in AE tokens

Find all the details and requirements HERE.

Best regards,
The AE Team

[dermike]

Hello everyone,

Just a general reminder about the 2 Mining Guides Bounties!

The deadline is in 2 days - May 10th, so hurry up and win a reward in AE tokens

Find all the details and requirements HERE.

Best regards,
The AE Team

will fortuna or the aeternity hard fork create a second coin???

[aeternity]

Hello everyone,

Just a general reminder about the 2 Mining Guides Bounties!

The deadline is in 2 days - May 10th, so hurry up and win a reward in AE tokens

Find all the details and requirements HERE.

Best regards,
The AE Team

will fortuna or the aeternity hard fork create a second coin???

Hey, no, no second coin will be created by the hard fork.

Best,
The AE Team

[CORNEL]

Is there any timeline when all existing exchanges will support the mainnet. I have new tokens but unable to trade them anywhere so if there is plan about this please share the details.