coins101 (OP)
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April 12, 2017, 12:27:56 AM |
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Hopefully this explains the current proposals for the economic fork:  Details and alternative options are still being reviewed. bump |
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MoneyJ
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April 12, 2017, 01:28:59 AM |
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So Helium will not do a snapshot . Instead exchange will be done via escrow. My initial impression was spreadcoin is still in our possession once snapshot was done. The diagram itself explains how to obtain Helium.
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andrew24p
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April 12, 2017, 07:13:32 AM |
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Hopefully this explains the current proposals for the economic fork: Details and alternative options are still being reviewed. bump So after the swap will we still have control of our spreadcoin, or are we literally trading it for helium ? |
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pokeytex
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April 12, 2017, 09:27:56 AM |
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Hopefully this explains the current proposals for the economic fork: Details and alternative options are still being reviewed. bump So after the swap will we still have control of our spreadcoin, or are we literally trading it for helium ? If I understand correctly I believe the snapshot is to avoid double dipping. However, you will end up with all of your Spreadcoin and equal amounts of Helium back minus maybe a small escrow fee. |
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Bimmerhead
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April 12, 2017, 02:59:47 PM |
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If I understand correctly I believe the snapshot is to avoid double dipping. However, you will end up with all of your Spreadcoin and equal amounts of Helium back minus maybe a small escrow fee.
How can double-dipping happen with a snapshot? |
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logictense
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April 12, 2017, 03:35:48 PM |
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Hopefully this explains the current proposals for the economic fork: Details and alternative options are still being reviewed. bump So after the swap will we still have control of our spreadcoin, or are we literally trading it for helium ? If I understand correctly I believe the snapshot is to avoid double dipping. However, you will end up with all of your Spreadcoin and equal amounts of Helium back minus maybe a small escrow fee. U mean snapshot of the blockchain? From what I see it does not resolve ur "double-dipping" problem. The same has been done to etc after eth hardfork, each account holding ethers received a corresponding amount of etc so profit from selling has been made on either chain. Whats bad in buying spread, sending it to an escrow addy, getting free helium and afterwards dumping both spread and helium for profit. |
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KarmaShark
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April 12, 2017, 04:13:36 PM |
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Update:Helium will have its first AMA - Ask Me Anything - in the Helium Slack channel this Saturday, April 15th at 12 p.m. (noon) Eastern Standard Time (EST) / 5 p.m. GMT. Join us and discover one of the best kept secrets in the world of blockchain and cryptocurrency:https://heliumslack.herokuapp.com/
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jjjordan
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April 13, 2017, 01:49:01 PM |
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Hopefully this explains the current proposals for the economic fork: Details and alternative options are still being reviewed. bump So after the swap will we still have control of our spreadcoin, or are we literally trading it for helium ? If I understand correctly I believe the snapshot is to avoid double dipping. However, you will end up with all of your Spreadcoin and equal amounts of Helium back minus maybe a small escrow fee. U mean snapshot of the blockchain? From what I see it does not resolve ur "double-dipping" problem. The same has been done to etc after eth hardfork, each account holding ethers received a corresponding amount of etc so profit from selling has been made on either chain. Whats bad in buying spread, sending it to an escrow addy, getting free helium and afterwards dumping both spread and helium for profit. Snapshot is a static state of the chain where each address has an exact and only one amount of coins. There should be a "mapping" of SPR to HLM before even HLM start so yes - no "double dipping", this will solve the problem. Don't compare with ETH and ETC since the situation has nothing in common - this is NOT a hardfork and and there won't be any relations between both networks. (Am I right HLM devs?) What's bad in sending all your SPR to an escrow account? Hm, let me think. How about I don't want to trust somebody with all my funds? |
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andrew24p
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April 13, 2017, 04:35:52 PM |
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Snapshot is a static state of the chain where each address has an exact and only one amount of coins.
There should be a "mapping" of SPR to HLM before even HLM start so yes - no "double dipping", this will solve the problem.
Don't compare with ETH and ETC since the situation has nothing in common - this is NOT a hardfork and and there won't be any relations between both networks. (Am I right HLM devs?)
What's bad in sending all your SPR to an escrow account? Hm, let me think. How about I don't want to trust somebody with all my funds?
This. Im not trusting anyone with my coins. Just take a snapshot like byteball has been doing. Its been working fine for them. |
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MoneyJ
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April 13, 2017, 10:12:17 PM |
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Snapshot is good but I think its tedious and time consuming for the dev to each examine the address of SPR unless they have to automate it. As for escrow the data for distribution of HLM will be ready once SPR sent to escrow. Again trust here is questionable but if the escrow agent has delivered many times in the past, I have no problem with it. It is a faster phase IMO.
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e1ghtSpace
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Crypto since 2014
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April 13, 2017, 10:58:32 PM |
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Snapshot is good but I think its tedious and time consuming for the dev to each examine the address of SPR unless they have to automate it. As for escrow the data for distribution of HLM will be ready once SPR sent to escrow. Again trust here is questionable but if the escrow agent has delivered many times in the past, I have no problem with it. It is a faster phase IMO.
lol, It is way more tedious to do escrow. The snapshot will definitely be automated, that is, if we do it that way. A snapshot will be faster, since we don't need to have a timeframe where people send in coins to the escrow. The only way I can see the escrow working is if they hold the coins they receive until the timeframe for sending coins in is over, because someone could send spreadcoin, receive spr and hlm, and sell spreadcoin on the exchange. Someone then buying that spreadcoin and trying to receive hlm won't be able to since it was already exchanged. |
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antonio8
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April 14, 2017, 04:51:20 AM |
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From the picture it looks like we have send our SPR to Escrow and receive them back along with HLM.
I am not the craziest about sending my coins from my wallet to someone else and getting them back.
Is there a time frame for the swap? Does all the coins have to be sent at once?
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If you are going to leave your BTC on an exchange please send it to this address instead 1GH3ub3UUHbU5qDJW5u3E9jZ96ZEmzaXtG, I will at least use the money better than someone who steals it from the exchange. Thanks  |
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SockPuppetAccount
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April 14, 2017, 11:15:57 AM |
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Please coins101, stop posting that image.
Distribution using an escrow does not work without a snapshot, but once we have a snapshot there is no need for anyone to prove their SPR balance by sending it to an escrow, they only need to prove that a specific address or addresses belong to them. The only way this works is :
1. Snapshot on a predetermined block.
2. SPR holders sign their addresses (or alternatively, send a tiny fraction of a SPR coin to the escrow from their addresses) to prove the addresses belongs to them.
3. Escrow verifies the signature and checks the balance of the address when the snapshot was taken and sends off an equivalent amount of HLM, no more, no less. The current balance of the address is irrelevant, the balance during the snapshot is all that matters.
This process will be painfully tedious (any method of manual distribution will be) but it is scam-proof and minimizes the amount of trust we need to have in the escrow.
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micdvd85
Sr. Member
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Merit: 250
BAM
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April 14, 2017, 11:58:45 AM |
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Please coins101, stop posting that image.
Distribution using an escrow does not work without a snapshot, but once we have a snapshot there is no need for anyone to prove their SPR balance by sending it to an escrow, they only need to prove that a specific address or addresses belong to them. The only way this works is :
1. Snapshot on a predetermined block.
2. SPR holders sign their addresses (or alternatively, send a tiny fraction of a SPR coin to the escrow from their addresses) to prove the addresses belongs to them.
3. Escrow verifies the signature and checks the balance of the address when the snapshot was taken and sends off an equivalent amount of HLM, no more, no less. The current balance of the address is irrelevant, the balance during the snapshot is all that matters.
This process will be painfully tedious (any method of manual distribution will be) but it is scam-proof and minimizes the amount of trust we need to have in the escrow.
I have no idea how to sign an address... or tx... the part of "send a tiny fraction of a spr coin from the address" I do know how to do. Call me a noob or whatever you want, but I don't even know where to begin when it comes to signing an address or transaction. |
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SockPuppetAccount
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April 14, 2017, 01:09:41 PM |
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I have no idea how to sign an address... or tx... the part of "send a tiny fraction of a spr coin from the address" I do know how to do. Call me a noob or whatever you want, but I don't even know where to begin when it comes to signing an address or transaction.
  Give escrow your SPR address, your message (again presumed to be your HLM address), and your signature. He verifies the information and checks the snapshot to find the amount of HLM he needs to send. No double-dipping. No way to cheat the system. No one will need to trust the escrow with their SPR. |
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micdvd85
Sr. Member
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Activity: 312
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BAM
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April 14, 2017, 01:12:42 PM |
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I have no idea how to sign an address... or tx... the part of "send a tiny fraction of a spr coin from the address" I do know how to do. Call me a noob or whatever you want, but I don't even know where to begin when it comes to signing an address or transaction.
Give escrow your SPR address, your message (again presumed to be your HLM address), and your signature. He verifies the information and checks the snapshot to find the amount of HLM he needs to send. No double-dipping. No way to cheat the system. No one will need to trust the escrow with their SPR. That's cool, but if my signature is visible to everyone, won't someone else be able to pose as me? Because if the escrow guy can see my signature, everyone can see it right? Edit - Wait, I get it now... I'm a noob.... lol |
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bluehorseshoe
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April 14, 2017, 11:37:02 PM |
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I'd like to get involved with helium/helium shares. What is the best way at this time please?
Do I need to purchase spreadcoin?
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jwiz168
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April 15, 2017, 12:26:44 AM |
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I'd like to get involved with helium/helium shares. What is the best way at this time please?
Do I need to purchase spreadcoin?
The fastest method would be that I think . Or better wait for any announce on details because I believe they going to use PoW as consensus algorithm. So better ready with your mining rig |
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andrew24p
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April 15, 2017, 12:31:42 AM |
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Update:Helium will have its first AMA - Ask Me Anything - in the Helium Slack channel this Saturday, April 15th at 12 p.m. (noon) Eastern Standard Time (EST) / 5 p.m. GMT. Join us and discover one of the best kept secrets in the world of blockchain and cryptocurrency:https://heliumslack.herokuapp.com/ Karma for those of us who cant be there, can someone record the logs? |
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KarmaShark
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April 15, 2017, 12:46:13 AM |
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Karma for those of us who cant be there, can someone record the logs?
Since the AMA will be taking place in the "ama" channel within the Helium Slack, those that are unable to attend can still catch up afterwards. I am still getting use to Slack however I believe you should be able to add the channel and the history should be there to peruse at your leisure. |
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