RadixDLT (formerly eMunie) Discussion

[Fuserleer]

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.

Thanks, means a lot to hear that!

It was never my intention to cash grab, I wanted to fix broken things! Hopefully all the time and hard work myself and others have put into this project will be worth it.

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.

Without getting into too much detail and jeopardizing our IP, there are a number of ways to reduce the supply without hair cutting wallets (which would be a TERRIBLE solution!!).

Most obvious is to burn fees instead of passing them on as earnings to network nodes.  Transactional and general usage fees are the first port of call, followed by DEX trading fees.  These mechanisms are sufficient for small adjustments but don't offer a huge amount of supply reduction capability in the event of a "crash".

The main mechanism is provided by the fact that to stabilize the base currency independent of oracles and pegging, is that the system itself mediates a lot of the trades.  Therefore if a lot of people are cashing out to USD for example, the Radix tokens can be burnt (publicly thus auditable) by the system in order to reduce the available supply and return confidence to the price.

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?

Interest payments are calculated based on whatever balance is on account at the time of that payment.  So if you spent them, you'd only get interest on the remainder.  Therefore as a speculator HODL to take advantage of growth and spend interest only if you have to.

[1714760289]

1714760289

[Ix]

Without getting into too much detail and jeopardizing our IP, there are a number of ways to reduce the supply without hair cutting wallets (which would be a TERRIBLE solution!!).

Most obvious is to burn fees instead of passing them on as earnings to network nodes.  Transactional and general usage fees are the first port of call, followed by DEX trading fees.  These mechanisms are sufficient for small adjustments but don't offer a huge amount of supply reduction capability in the event of a "crash".

The main mechanism is provided by the fact that to stabilize the base currency independent of oracles and pegging, is that the system itself mediates a lot of the trades.  Therefore if a lot of people are cashing out to USD for example, the Radix tokens can be burnt (publicly thus auditable) by the system in order to reduce the available supply and return confidence to the price.

After thinking about this for a long time, I came to the conclusion that any burning of coins is unnecessary. It punishes people who are actively using the currency (and possibly those protecting it if tx fees are not increased to compensate) in favor of those who are most likely just speculating. In any currency where the price has the ability to remain relatively stable, it should be much less likely that the price is scaring/encouraging people into selling, so the mechanic is likely trying to fix something that isn't broken.

Just my two cents.

[Ix]

The only alternative is to have enough reserves (per trading pair) to fully absorb a potential crash and then bid up rates, which is unrealistic.  Definitely interesting to see if the planned mechanism will suffice.

My point is that attempting to absorb the crash is unnecessary. If value has left the currency, it shouldn't be solely up to active users to pay the price. It disincentivizes being active which is counterproductive to recovery.

[Fragbait]

Without getting into too much detail and jeopardizing our IP, there are a number of ways to reduce the supply without hair cutting wallets (which would be a TERRIBLE solution!!).

Freezing a percentage of the supply from moving has already been discussed in public on this forum so I take it that isn't one of the ways you're referring to?

[okiefromokc]

To my knowledge there will be NO freezing of supply, however if there is no demand then correspondingly there will be NO new supply distributed.  But then again think about this, the only way to create different token assets is to burn the Radix tokens to create the new asset within the system network.  If there is a drop in the available supply do to asset creation then the system detects this and creates new supply to distribute to the HODL accounts.   

[John Titor]

Without getting into too much detail and jeopardizing our IP, there are a number of ways to reduce the supply without hair cutting wallets (which would be a TERRIBLE solution!!).

Freezing a percentage of the supply from moving has already been discussed in public on this forum so I take it that isn't one of the ways you're referring to?

It sounds very similar to the "rolling peg" idea that David Zimbeck of BitBay has been floating for the past year

[r0ach]

Without getting into too much detail and jeopardizing our IP, there are a number of ways to reduce the supply without hair cutting wallets (which would be a TERRIBLE solution!!).

Freezing a percentage of the supply from moving has already been discussed in public on this forum so I take it that isn't one of the ways you're referring to?

It sounds very similar to the "rolling peg" idea that David Zimbeck of BitBay has been floating for the past year

Well, whatever the fine details are, it seems rather hard to categorize it as anything but Keynesian in nature even if it was done in an automated way.

[Fatoshi]

Digital money that keeps a steady price however mich demand and suppply changes....I think we call that fiat...no thanks. Deflation is the whole point of bitcoin so we the holders of money gain in purchasing power not lose. Awful idea that im sure makes a few insiders very rich.

[Piston Honda]

sounds legit, gonna def read into this more and prob throw decent btc at it.

[SnowRoll]

Digital money that keeps a steady price however mich demand and suppply changes....I think we call that fiat...no thanks. Deflation is the whole point of bitcoin so we the holders of money gain in purchasing power not lose. Awful idea that im sure makes a few insiders very rich.

But you do get deflation, just in a different form. Every time mkt cap doubles you get 50% bonus on your holdings.

[justinc2014]

Supply and demand determines the value, DCR does this with their POS system stake, the POS ticketing price changes but locks up the funds for months.  cutting the supply, when the demand drop for the purchasing of the tickets the price drops and more dcr are purchased of the market until the tickets are sold, then the price of the tickets adjusts.

Ethereum system is locking up funds in it seems in a endless supply of ICO's which only really the ICO holders will ever use..

spells of genesis used trading card digital asset to create demand at the same time the sales would burn their token .

[raymonddaf]

Any news on an ico date so I can get funds ready?

[FandangledGizmo]

So ROI comes in the form of coins being deposited into your wallet and not in coin appreciation?

Correct.

1 of something worth $2 is the same as 2 of something worth $1.

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.  

Our test scenario where we ran several years of bitcoin txns (over 500M) through the model from day 1 through (I believe) 2015 produced a variance of around 3% +/- from the initial bitcoin value.  

With that decreased level of volatility you don't have to sit around and hope/pray the price doesn't crash, but can go about your day and just login whenever to get the latest dump of back paid interest on your existing holdings.  And if you are running any of the services that provide features for the network like marketplace, chat, mail, distributed exchange, apps...etc then you'll get rewards of new supply as the economy inflates.

This is the worst idea I've heard for a long time.

Crypto market is hot though, so there should be some hype and if it trades quick enough, Radix can probably turn a profit till people see it action and realise they've just brought a version of the flawed central banking concept to the blockchain but with a currency nobody is mandated by law to pay taxes in or use.

Does it actually buy supply back when there's little demand at least? If not it's the equivalent of a no/low inflation POS currency but with the invention/addition of a virtual whale that dumps on the price whenever it starts to actually gain value...

[ashapasa]

Emunie is radix right? Wow I am surprised this project still has not released after four years.

[Peachy]

Emunie is radix right? Wow I am surprised this project still has not released after four years.

Worth reminding...
https://bitcointalk.org/index.php?topic=1859022.msg19445357#msg19445357

[testerx]

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.

Tell me about it...I had thought emunie would ICO soon at that time and had followed it very closely.  Missed the NXT ICO back then since it closed so soon.  Doh.

[theheolyn]

I've heard somewhere that 18th of July was a milestone for Radix (something concerning patents), so what about it?
Are there any news?

[ginky]

31 july 2017 - Nothing change.

[theheolyn]

31 july 2017 - Nothing change.

Seems from Twitter they are doing some conf. and stuff but not a word either here nor on their forum.
Though the team may be very busy, considering that the whole community was waiting for at least some news in June or at last in July, having yet provided no info at all is quite harsh.

[c_lab]

quote from radix forum:

No ICO in June. Probably few months from now.

patience is a virtue.