RadixDLT (formerly eMunie) Discussion

[Peachy]

After 4 years you still not finished emunie /radix?
Why is that?

Bitcoin, if you read the full history of it, took 5 years to develop.

Dan developed 2.0 tech years before anyone else (and that only a few coins so far have even began to test using) and decided it wasn't going to meet the complete need set (e.g. scalable, fast and efficient) so he trashed that model and moved on the 3.0 (which currently no project is using) and is about 2 years ahead of anything available.

That 3.0 solution was also just not quite what we wanted, but is solid enough for some real world applications that don't need near-infinite scalability, speed and efficiency.  

The brainstorm came about 6 months ago when he landed on the 4.0 concept of the FABRIC active consensus method.  This method is truly next-next-generation in functionality.  You'll understand why after reading the patent and whitepaper.

Long story short:  A world-changing system requires more time than to just copy/pasta work already done by others.

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[alani123]

How was development funded up to this point? Who else other than paying users is going to receive coins if there's going to be an ICO?

[Peachy]

How was development funded up to this point? Who else other than paying users is going to receive coins if there's going to be an ICO?

Dan self-funded most of it personally as he was quite well-off from his previous successful business ventures prior to becoming interested in the crypto space.

However, there are a solid core group of dedicated members, myself included, that have personally funded the project over the past several years.

Note:  there is not, and never will be (and is technically impossible) a premine.  With a variable supply system a pre-mine is meaningless and not relevant.

[superresistant]

lmao emunie still around

[alani123]

How was development funded up to this point? Who else other than paying users is going to receive coins if there's going to be an ICO?

Dan self-funded most of it personally as he was quite well-off from his previous successful business ventures prior to becoming interested in the crypto space.

However, there are a solid core group of dedicated members, myself included, that have personally funded the project over the past several years.

Note:  there is not, and never will be (and is technically impossible) a premine.  With a variable supply system a pre-mine is meaningless and not relevant.

Admirable and interesting. The concept of eMunie sounded interesting to me from the beginning. With all the new developments it seems as though I have some reading to do though. Good luck and hoping for a great launch.

[Come-from-Beyond]

Such high level of dedication can't end with a failure. Definitely watching...

[Sharky444]

Radix/Emunie is a sleeping giant. It could have been released multiple times, but it was never good enough to replace them all. Until now. The current beta is a revolution.

[Zer0Sum]

Yowza. All the NXT/IOTA Mafia is come for us. What have you guys done with bahamapascal 

[statdude]

Whats the distribution this time? It was pretty bad with the original emunie. why i passed.. (not in a greedy sense, just in a too much inflation sense)

[okiefromokc]

bahamapascal showed up in the Radix shoutbox a few weeks ago, and we chatted for a bit. I think he might of even participated in the last internal beta test when we did the initial testing of the FABRIC tech.

[r0ach]

With all fixed supply models (bitcoin et al) the price is the variable.

With Radix the supply is the variable.  Granted, the attempt isn't to "fix" the price, but to substantially smooth out the high volatility through autonomously generated supply based on the demand.  

The real question is, why would anyone use such a thing over gold and silver?  It's blatantly obvious no cryptocurrency is an actual store of value.  How could such a thing be that doesn't even exist in the first place?  That's why it has the word "currency" in the name cryptocurrency and not "money".  All currencies are inherently worthless and go to zero on a long enough timeline, while only gold and silver remains.  Since money is a zero sum game, allowing anyone to pretend to be god and act as a central banker issuing currency for profit is a master and slave dynamic.  Hence anyone not using gold and silver is a slave.

Bitcoin kind of tricked people into thinking it replicated those dynamics of gold and silver, but in reality it's designed to centralize into a rent seeking usury system controlled by mining cartels, and those are the new central bankers.  So the fact still remains, anyone not using gold and silver is a slave.

[testerx]

Tax treatment will be the same as miners that receive block rewards.  Tax treatment on Bitcoin (and all other fixed supply / variable price coins) are the cap gains rates, which for MOST users is also at their income level since very few hold it for long term periods (minimum 1-year).

I disagree on most users holding currencies for under a year, you can possibly also convert only between different cyptocurrencies and still get favorable tax treatment by claiming a 1031 exchange in the US-which means you're not stuck just holding one cryptocurrency forever either.  Whereas if you're mining or getting block rewards it's always going to be taxed at the income tax rate.

My total marginal income tax rate is over 40% between the state/city/federal taxes, whereas I would pay half of that with capital gains which is a very large difference in taxation.

I do see that a more stable currency rate may be better for actual payments, though given how rapidly most newer cryptocurrencies have increased in value this just seems like a way to rack up a gigantic tax bill.

[RicardovandenBos]

Where can I buy Radix?

[skywave]

Where can I buy Radix?

Not yet - will be announced when ready.

[zanzibar]

Yowza. All the NXT/IOTA Mafia is come for us. What have you guys done with bahamapascal 

lol, 5 Radix if you want to see Pascal again! But seriously, when Nxt was released, Emunie was on everyone's radar, so there were a lot of people in both communities at the time. Crazy how fast time has passed.

[okiefromokc]

With regards as to when the ICO occurs, here is an indicator, the Open Beta will occur before the ICO is announced.

This will give everyone who is looking for more information on what this is all about, a chance to actually run the client node and services to see how it functions.     Firstly, Radix is a Decentralized Ledger Technology, (Thus @RadixDLT twitter account), it does not have a block-chain, but is a pure transactional database.  So, because if has no block-chain this is completely new technology, written from scratch.  There are a couple of features that I know for sure are not in any other cryptocurrency, elastic Demand/Supply and the native Direct Debit cards.  These cards can be used with any point of sale terminal, without any need for a 3rd party clearing method such as VISA or Master-card.  And if you are the paranoid type, you can even purchase the equipment for under $100 and create your own debit cards from blank cards that meet certain specifications, that can be purchased off the Internet. 

[SnowRoll]

With regards as to when the ICO occurs, here is an indicator, the Open Beta will occur before the ICO is announced.

This will give everyone who is looking for more information on what this is all about, a chance to actually run the client node and services to see how it functions.     Firstly, Radix is a Decentralized Ledger Technology, (Thus @RadixDLT twitter account), it does not have a block-chain, but is a pure transactional database.  So, because if has no block-chain this is completely new technology, written from scratch.  There are a couple of features that I know for sure are not in any other cryptocurrency, elastic Demand/Supply and the native Direct Debit cards.  These cards can be used with any point of sale terminal, without any need for a 3rd party clearing method such as VISA or Master-card.  And if you are the paranoid type, you can even purchase the equipment for under $100 and create your own debit cards from blank cards that meet certain specifications, that can be purchased off the Internet. 

This sounds amazing, finally a coin that has a day-to-day usage, a true currency. You won't even need a bank to have a debit card, and create one by yourself? sweet!
Really looking forward to it.

[AmarO]

With regards as to when the ICO occurs, here is an indicator, the Open Beta will occur before the ICO is announced.

This will give everyone who is looking for more information on what this is all about, a chance to actually run the client node and services to see how it functions.    Firstly, Radix is a Decentralized Ledger Technology, (Thus @RadixDLT twitter account), it does not have a block-chain, but is a pure transactional database.  So, because if has no block-chain this is completely new technology, written from scratch.  There are a couple of features that I know for sure are not in any other cryptocurrency, elastic Demand/Supply and the native Direct Debit cards.  These cards can be used with any point of sale terminal, without any need for a 3rd party clearing method such as VISA or Master-card.  And if you are the paranoid type, you can even purchase the equipment for under $100 and create your own debit cards from blank cards that meet certain specifications, that can be purchased off the Internet.  

This sounds amazing, finally a coin that has a day-to-day usage, a true currency. You won't even need a bank to have a debit card, and create one by yourself? sweet!
Really looking forward to it.

This project is big-time but not in terms of you will get ridiculous gains overnight, you will get steady profit in here for investors not ridiculous but it is safe. What you will get is the ability to take part in a world changing technology. This technology will also take a lot of coins out of the market, has been worked on for years. Not like today where dev comes out asks for 100m to get started on the project lol. I hate 99% of ICOs but I give my full support to this one I also humbly bow down to the dev.

[Fragbait]

Your holding account will get more coins if the value "goes up", but what if it "goes down", will coins be deducted from your account?

Sounds like a nightmare from tax accounting/bookkeeping perspective.

[SnowRoll]

Regarding the 50% interest payments every time the mkt cap doubles;
Will it be 50% of the initial holding, or 50% of the holding at time of mkt cap doubling?
Say I purchase 1,000 RDX during ICO and 6 months later the mkt cap doubles, by then I spent 900, and own just 100 RDX.
Will I get 500 RDX or 50 RDX, or is it a different formula altogether?