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Author Topic: [ANN] [XEL] :: XEL - The Decentralized Supercomputer ::  (Read 252138 times)
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LamboMoonYacht
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June 23, 2017, 03:23:45 PM
 #1001

Can anyone explain why Golem won't make XEL obsolete?

Golem is developing an API that will let anyone create custom tasks, and the whole point of their reputation system -- which is the main criticism of Golem on the XEL website -- is to facilitate custom work that couldn't be verified by a central authority (whereas general computing tasks like rendering could be easily verified).

I thought the whole point of XEL was to let people do custom work, but it sounds like Golem is already doing that?

https://www.elastic.pw/blog/2017-04-05-elastic-compared-to-other-competitors/

That doesn't explain anything and it completely mischaracterizes the Golem project: https://blog.golemproject.net/the-challenges-ahead-933f040cba95

1. Golem is decentralized
2. Golem results are verified
3. Golem is not limited to general tasks (like Blender)

If that's the best explanation you've got, I'm even more convinced that XEL is a scam / vaporware.

OK, you got us, Elastic is a scam.  Now please move on.  Thanks.

Thank you for your honesty!
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June 23, 2017, 03:25:36 PM
 #1002

No problem.

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June 23, 2017, 03:27:15 PM
 #1003

That doesn't explain anything and it completely mischaracterizes the Golem project: https://blog.golemproject.net/the-challenges-ahead-933f040cba9

That's a very open and productive blog post they made there. As one can read one of the biggest issue they have yet to solve is building a reliable network of trust, which is something lots of folks are trying and have tried to solve.

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June 23, 2017, 03:59:53 PM
 #1004

Just curious, why so many confirmations (750) before forging can begin?


Cheers!

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June 23, 2017, 04:07:12 PM
Last edit: June 23, 2017, 04:47:27 PM by unvoid
 #1005

Question about the Windows Lite Wallet:  The 12 words you get upon launching the wallet the first time, can those be used to recover the account in case of a crash on another computer?

Thanks.

Yes. Remember people! XEL using brainwallet. If you setup node on Linux/Mac/Windows or if you launch Desktop app on Linus/Mac/Windows and you provide passphrase "test" you'll get access to the same wallet. So if you used passphrase "test" and someone else on the world used same passphrase you both get access to the same account (so your funds may be stolen!). That's why you must choose a GOOD passphrase. If you don't have idea how to create a good one use "Create account" option. It will generate for you 12 english words AND THIS IS YOUR SECRET PASSPHRASE to access your account from any node/desktop client on the world! So keep it in some safe place and don't lose it.

Example:

User A from USA used weak, unsecure passphrase: "test". Account for this passhprase has address: XEL-E8JD-FHKJ-CQ9H-5KGMQ (you can check this in your node/desktop client and here https://wallet.elasticexplorer.org, just type same passphrase in both those places and you'll see you have access to this address)

User B from China is a hacker, he scans (with bot most likely) weak accounts all the time to find out if some other users used weak passphrase. He finds out that User A just transfered XEL to account with "test" passphrase so he take those funds to address he controls.

In XEL, your private key is generated from your passphrase. If you use weak passphrase you will most likely lose your XEL.

If you need some Bitcoin world simple analogy take a look at Electrum. Your wallet is generated using 12 words. You can then recover your BTC wallet if you have those 12 words.

BTC: 1CMgHWx4wkAaAy2FfeCyPdedUExmhGhfi5
XEL: XEL-HCM8-KB6E-YFLK-8BWMF
Tony128
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June 23, 2017, 04:45:28 PM
 #1006

I've just set up my account on the litewallet and am asked to make an outgoing transaction. Is there a minimum amount I have to send? And do I have to set the fee manually? If so, how high is it?

Thanks for your help with this
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June 23, 2017, 05:01:07 PM
 #1007

I've just set up my account on the litewallet and am asked to make an outgoing transaction. Is there a minimum amount I have to send? And do I have to set the fee manually? If so, how high is it?

Thanks for your help with this

Sorry, noob question. Figured it out myself
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June 23, 2017, 05:08:59 PM
 #1008

The pump is starting at HEAT  Grin
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June 23, 2017, 06:08:30 PM
 #1009

Our current problem with exchanges: https://talk.elasticexplorer.org/t/problem-with-exchanges-and-one-thing-that-we-fucked-up/556

BTC: 1CMgHWx4wkAaAy2FfeCyPdedUExmhGhfi5
XEL: XEL-HCM8-KB6E-YFLK-8BWMF
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June 23, 2017, 06:21:52 PM
 #1010

The pump is starting at HEAT  Grin

There will be fireworks when this gets listed on Bittrex.  Will make the current price of 0.0003 look like a steal.

And when do you think that will be?
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June 23, 2017, 06:24:05 PM
 #1011

word of warning to people, someone signed up on the forum and apparently (i have not checked yet) the slack channel using my username with intent to scam people. Avoid that person and be aware they may try the same with some other Bitcointalk accounts. Be careful, use escrow and always cross check to be sure if someone claims to be the same person.
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June 23, 2017, 06:30:58 PM
 #1012


Thanks for the update! Worth a read. And i hope some exchanges will "dig deeper"  Smiley
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June 23, 2017, 06:31:26 PM
 #1013


I would suggest to simply renaming it to "Elastic".

The fact that we think about it "Light wallet" is because of historical reasons, and what we have now IS "Elastic" wallet on some early version.

As far as I know, the compute part will also be added to the same software (the wallet).

@EK, @coralreefer, please correct me if I'm wrong.


Thanks

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June 23, 2017, 06:54:08 PM
 #1014

(…) (whereas general computing tasks like rendering could be easily verified).

(…)

Rendering is a prime example of something which can't be easily verified. To verify that the miner/worker/whatevertherighttermis actually did the job completely and correctly, you have to check the whole file from front to end. This can't be done by the job author, because they have an interest to lie and keep their GNT, and it obviously can't be done by the worker. Having a third party, or rather multiple third parties check the file is the only option, which…

a) …raises security/privacy concerns, unless homomorphic encryption is used, but in that case, controllers would have to repeat the exact same computation, the worker did(see point c)),

b) …bodes the question why this particular instance should do its job correctly and not just give it a thumbs up, without closer looking, and

c) …eats up a giant portion of potential computing power, because you'd have to check the whole damn thing. This is why there is a reputation system in the first place.

I'm not saying this is not a viable way to go; unlike others, I'm not opposed to the idea of decentralized trust systems. It's just that Elastic is set up in a way which won't need a trust system, at the expense, that some tasks may not be viable (yet).

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June 23, 2017, 07:11:10 PM
 #1015


I would suggest to simply renaming it to "Elastic".

The fact that we think about it "Light wallet" is because of historical reasons, and what we have now IS "Elastic" wallet on some early version.

As far as I know, the compute part will also be added to the same software (the wallet).

@EK, @coralreefer, please correct me if I'm wrong.


Thanks

I believe you are correct.  I too think just calling it "Elastic Wallet" is fine.
Stozhar1
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June 23, 2017, 07:21:42 PM
 #1016

When Xel will trade on Bittrex?
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My old account was "Ghoom" (hacked) u=199247


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June 23, 2017, 07:24:11 PM
 #1017


I would suggest to simply renaming it to "Elastic".

The fact that we think about it "Light wallet" is because of historical reasons, and what we have now IS "Elastic" wallet on some early version.

As far as I know, the compute part will also be added to the same software (the wallet).

@EK, @coralreefer, please correct me if I'm wrong.


Thanks

I believe you are correct.  I too think just calling it "Elastic Wallet" is fine.

"Elastic" is fine.

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unvoid
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June 23, 2017, 07:42:33 PM
 #1018

If you somehow want to speed up Bittrex listing just join thier slack channel and ask when XEL will be listed:

Get invite: http://slack.bittrex.com/
Talk: https://bittrex.slack.com

They already know how to list XEL. I explained them "litewallet" problem and pointed them to our source code.

Source: https://talk.elasticexplorer.org/t/problem-with-exchanges-and-one-thing-that-we-fucked-up/556/15

BTC: 1CMgHWx4wkAaAy2FfeCyPdedUExmhGhfi5
XEL: XEL-HCM8-KB6E-YFLK-8BWMF
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June 23, 2017, 08:26:13 PM
 #1019

If he lives in Germany its suicide to give 50% when holding bitcoins AKA crypto over a year has *ZERO* taxation

If you receive 1 BTC now at a price of 1000 EUR and you sell it in 2 years for 2000 EUR,
then you have pay 50% taxes on the 1000 EUR, the 1000 EUR in gains is tax free.


As far as i know it´s free after 1 year.

If you donated 1+ year ago for elastic and sell now e.g 100 elastic for 1btc (btc price = 2500€ for example) and hold the btc for e.g 2 weeks you have to pay taxes just only for the difference.  btc today/2500€ ; btc in 2 weeks/3000€  = pay taxes for 500€
By selling the btc instantly you have to pay nothing
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June 23, 2017, 08:56:09 PM
 #1020

If he lives in Germany its suicide to give 50% when holding bitcoins AKA crypto over a year has *ZERO* taxation

If you receive 1 BTC now at a price of 1000 EUR and you sell it in 2 years for 2000 EUR,
then you have pay 50% taxes on the 1000 EUR, the 1000 EUR in gains is tax free.


As far as i know it´s free after 1 year.

If you donated 1+ year ago for elastic and sell now e.g 100 elastic for 1btc (btc price = 2500€ for example) and hold the btc for e.g 2 weeks you have to pay taxes just only for the difference.  btc today/2500€ ; btc in 2 weeks/3000€  = pay taxes for 500€
By selling the btc instantly you have to pay nothing

Is there a limit?

(Sounds like I need to start learning German Wink )

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