[ANN] [XEL] :: XEL - The Decentralized Supercomputer ::

[BaNgTHai]

I don't understand the difference between Golem and Elastic?

Also, the funding of the team seems to be the biggest hurdle you guys have to get over, at the moment, if you want to become a legit project with a big market cap.

Slack is down. Thoughts on making a telegram?

[Evil-Knievel]

Slack is down.

No!

I don't understand the difference between Golem and Elastic?

Golem for now has hard coded use cases while Elastic allows you to program your own algorithm in an own programming language. To be fair: Golem plans to support own hand-crafted work packages later on. Also, the infrastructure is totally different. I hope that some day, someone writes down all differences both at the functional level and deep inside the architecture.

Also, the funding of the team seems to be the biggest hurdle!

The bank accounts of other people should not be your concern. But if you insist on doing some funding, please give my part to someone else!

[BaNgTHai]

Slack is down.

No!

I don't understand the difference between Golem and Elastic?

Golem for now has hard coded use cases while Elastic allows you to program your own algorithm in an own programming language. To be fair: Golem plans to support own hand-crafted work packages later on. Also, the infrastructure is totally different. But my time is limited at the moment, maybe someone else can write a blog post or something.

Also, the funding of the team seems to be the biggest hurdle!

Why are you making the bank accounts of other people your problem?

Well, slack may not be down but the invitation link from the received email is not working.

If im looking to invest in a project and they don't have their finances figured out marketing, salaries, etc it means A.) they aren't far along enough in their journey to establish this plan (not necessarily bad) B.) they are incompetent and not worth investing in.
If it's B then you are right, I should care less about how yall handle your guys finances hence the question......Trying to figure it out. I don't think a platform based on donations is sustainable long term.

[Evil-Knievel]

If im looking to invest in a project and they don't have their finances figured out marketing, salaries, etc it means A.) they aren't far along enough in their journey to establish this plan (not necessarily bad) B.) they are incompetent and not worth investing in.
If it's B then you are right, I should care less about how yall handle your guys finances hence the question......Trying to figure it out. I don't think a platform based on donations is sustainable long term.

I am sorry to say, but I am afraid we fall into category B. I cannot speak for every developer here, but at least I am pretty incompetent. You should avoid any kind of investment here (this is of course my personal opinion only) because of two simple facts: On the one hand, you are obviously looking for real companies with salaries, buzzwords, buzzier words and all this cool stuff, and on the other hand Elastic was never meant to be an investment tool. Maybe there is something better for you to "invest in"?

[BaNgTHai]

So this is a PoW but not in the traditional sense correct? Where can i find more information on the specs of the coin? All i can dig up is the 100m coin supply

[mr.coinzy]

So this is a PoW but not in the traditional sense correct? Where can i find more information on the specs of the coin? All i can dig up is the 100b coin supply

If you looked well enough you probably would have found the website to check some of that info yo0u wanted: (https://www.elastic.pw/)
In any case, i think that from what you described above you are perhaps better fitted with allocating your funds into one of the more "standard/orthodox" projects around, that way you can leave the worrying of funding and other stuff related to this project to others.
Good luck!


* (oh, and it's not 100b , but rather, 100mill total coin supply , small difference)

[BaNgTHai]

I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins! 

Ill stay posted!

[ttookk]

I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins!  

Ill stay posted!

Simply put: there is no funding.

There is also no central authority, which could be considered suitable for holding and distributing any kind of funding. This is a crypto project in its original sense. If you don't know what I'm talking about, look at how Bitcoin came to life.

[NutMasterTardd]

Regarding the funding issue, and someone please correct me if I am wrong but the project has been progressing without funding for at least the last year? and if so, it looks like Elastic doesn't really need it for the project to move forward.

[Evil-Knievel]

Regarding the funding issue, and someone please correct me if I am wrong but the project has been progressing without funding for at least the last year? and if so, it looks like Elastic doesn't really need it for the project to move forward.

I think that two things are mixed up here. The project has no funding because there is nobody to manage any funds. But this doesn't mean that there have been no rewards. I guess that everyone of us has gotten generous gifts, donations, bounties or however you would like to call them. But there is a difference: there are no work contracts, there is no salary, there are no monthly payouts or anything like that. If someone gets something now, he get's it either as a voluntary bounty for past work, or because his horse mask selfie made some rich guy smile for a second and then go wild. Such bounties are NOT a payment for future work.

This essentially means, that everyone of us is willing to work on the project because it makes a shit load of fun - who doesn't like the great feeling after solving something really tough? People here do NOT work because there is a boss paying your salary and making you his own private snitch.

Some have gotten more, some have gotten less, and some are yet to get something maybe. But please understand why the funding discussion is silenced over and over again: nobody is required (or should be forced) to talk about his own funds to anyone else but the lawyer who does his tax reports (yeah, I admit that I pay full income taxes on everything that I get - this cuts everything down by 50% but better be safe than sorry!)

Also: My personal view is that results are mostly better if people are passionate about something that the results of people who are paid to work the "schedule". But this is just my personal opinion. Of course you can find examples in the real life which show the contrary - it's just an observation I have personally made very often.

I think its redundant to mention, that I would never accept any salary from anyone (not even a foundation) ;-) Neither would I accept anyone tracking my work and comparing against some schedules / roadmaps nor accept anyone telling me what to do! And this is the great thing about Elastic's project structure: if someone disagrees with what I do or think, he is free to do it better. Every contribution counts because we are all equal!

[coralreefer]

Regarding the funding issue, and someone please correct me if I am wrong but the project has been progressing without funding for at least the last year? and if so, it looks like Elastic doesn't really need it for the project to move forward.

I think that two things are mixed up here. The project has no funding because there is nobody to manage any funds. But this doesn't mean that there have been no rewards. I guess that everyone of us has gotten generous gifts, donations, bounties or however you would like to call them. But there is a difference: there are no work contracts, there is no salary, there are no monthly payouts or anything like that. If someone gets something now, he get's it either as a voluntary bounty for past work, or because his horse mask selfie made some rich guy smile for a second and then go wild. Such bounties are NOT a payment for future work.

This essentially means, that everyone of us is willing to work on the project because it makes a shit load of fun - who doesn't like the great feeling after solving something really tough? People here do NOT work because there is a boss paying your salary and making you his own private snitch.

Some have gotten more, some have gotten less, and some are yet to get something maybe. But please understand why the funding discussion is silenced over and over again: nobody is required (or should be forced) to talk about his own funds to anyone else but the lawyer who does his tax reports (yeah, I admit that I pay full income taxes on everything that I get - this cuts everything down by 50% but better be safe than sorry!)

Also: My personal view is that results are mostly better if people are passionate about something that the results of people who are paid to work the "schedule". But this is just my personal opinion. Of course you can find examples in the real life which show the contrary - it's just an observation I have personally made very often.

I think its redundant to mention, that I would never accept any salary from anyone (not even a foundation) ;-) Neither would I accept anyone tracking my work and comparing against some schedules / roadmaps nor accept anyone telling me what to do! And this is the great thing about Elastic's project structure: if someone disagrees with what I do or think, he is free to do it better. Every contribution counts because we are all equal!

I agree with what EK wrote above; however, the one area we may not completely agree is on whether a foundation (or whatever it ultimately gets called) would benefit the project...

We see almost daily questions (between here and slack) requesting who can answer questions about the project, it's direction, marketing, etc.  Both EK and I have consistently said we are not interested in providing this project oversight / direction...we simply want to work only on coding the underlying engines.  I wish the project could have been a traditional open-source project where people just jump in and contribute how they feel best, but there seems to be a large learning curve with this project that may be a deterrent to people getting involved.

So it seems that there are 2 primary options...1) wait until the compute engine is complete and see if new talented devs outside the crypto world start taking notice and get involved as they identify ways to enhance Elastic to better server their needs, or 2) create a foundation that will fund a couple of key resources to start leading the project, document everything, manage websites / source code repositories, etc.

I believe option 1 will happen on its own, but may take quite a bit of time, and in the mean time we continually get bombarded with people asking the same questions over and over again.

But like EK, I'm not going to be part of running a foundation, nor do I want to be on the payroll of one (the community has already graciously given me quite a bit of xel).  So I am just throwing out my thoughts that I do understand the concerns that we see expressed here over and over...but this is really a decision for the community to make (not EK) and the community can act on it if/when they feel they are ready.

PS...regarding BaNgTHai's question above...I too fall under option B...completely incompetent...

[Soul_eater_123]

EK, Coralreefer, if you guys are incompetent I'd hate to think where that puts a moron like me! 

Anyway I am happy to contribute towards a foundation if that is what people want.  Might be better to use BTC for that purpose, we would just need someone to run it. 

I would do it if I had the time but I am currently jumping through various hoops to return to my career after a long period of ill health.

If someone were interested we could perhaps scrape together some XEL for them to hold long term as part of the position to give them more incentive and a stake in the project. 

Also I think I would not be alone in helping from a monetary perspective.

[erok]

I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins!  

Ill stay posted!

Simply put: there is no funding.

There is also no central authority, which could be considered suitable for holding and distributing any kind of funding. This is a crypto project in its original sense. If you don't know what I'm talking about, look at how Bitcoin came to life.

No funding except for the ICO? Call me crazy but I remember an ico.

[Evil-Knievel]

No funding except for the ICO? Call me crazy but I remember an ico.

I can't take this anymore Yes, donations were collected almost 2 years ago (Alerta: no ICO!!!) with the purpose to kick off the development process. This obviously worked, didn't it? It is absolutely irrelevant whether it was required to burn them, throw them in the toilet, donate them to charity, use them to quit the job and pay the running expenses while coding, pay for 10 litres of Kopi Luwak coffee per day to stay shap-focused or if some other complex butterfly effect was made possible to happen. It just does not matter.

But there is one thing we can be sure of, clearly "creating a foundation, forming a corporation and funding developers on a monthly basis" was not the way the whole thing headed. It just didn't, even if you try to create the impression of the opposite. But this is fine, since it was never promised!

[mr.coinzy]

I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins!  

Ill stay posted!

Simply put: there is no funding.

There is also no central authority, which could be considered suitable for holding and distributing any kind of funding. This is a crypto project in its original sense. If you don't know what I'm talking about, look at how Bitcoin came to life.

No funding except for the ICO? Call me crazy but I remember an ico.

As EK articulately said before me, it does not matter what happened to any collected funds before - why? because the intent of these funds (which where collected under the label donation - as to no promises made for funds sent) was to facilitate the development and creation of the Elastic system. Now we are more than a year later and we are almost at the point of releasing a working system (this will happen, not guessing). What can you learn from this you may ask? well, you may learn that the project is reaching where it was headed for, and manged to pass so many initial goals/wishes. The funds issue is irrelevant because we are arriving where we wanted to be (with or without funds).
This issue has been discussed to death before and it exists in threads and old posts, therefore, I suggest eliminating any further discussion about it as it only brings more dust into the clean air we wish to have here.
Let me say it clear, if I put money in any project out there (and I do), I would pray for them to arrive to the state Elastic is in right now in many regards, even with 100mill funding behind them. It is that simple, for those who use their brains to think and their eyes to see what is going on around them.

[LemonAndFriesOne]

My node is now trying to forge but it seems like the big balance account get all the blocks. Is there a correlation between balance and how many blocks are forged?
I just have a few hundred over the minimum to forge. I am mostly running a node because I've discovered elastic (a bit late) and I like the idea behind it,but forging a few blocks would be a nice bonus.

[Soul_eater_123]

Is there a correlation between balance and how many blocks are forged?

Yes - how else would it work?

[ECore]

My node is now trying to forge but it seems like the big balance account get all the blocks. Is there a correlation between balance and how many blocks are forged?
I just have a few hundred over the minimum to forge. I am mostly running a node because I've discovered elastic (a bit late) and I like the idea behind it,but forging a few blocks would be a nice bonus.

how is that work now?

[sheld0n]

Thanks for answering my question and for your opinon. It is right, a lot of projects have not a working product and value a lot of money. I came to Elastic because I did research and was surprised about the posibilities. It is probably not a complete Ethereum but it is more easier to use in my opinion. I have some programming background and watched the Youtube videos how easy it is to deploy scripts.

Are there any news which cause the big price rise? I hodling Elastic for quite a time but I have never noted a such a big surge.
I follow the news but could not find a reason. Are pumpers just have found a new 'victim' or are there real new behind? Thanks!

It was a bit oversold, because ICO price was 600 satoshi and people sold tons of nearly free elastic from ICO. Elastic is going to have a working product soon (not sure if it can compete with supercomputers in datacenters, most likely no) in which case the fair market cap should be at least 50-100M, up to 200M. That's just because a lot of projects that don't have a working product cost a lot more.

[LemonAndFriesOne]

Is there a correlation between balance and how many blocks are forged?

Yes - how else would it work?

Some of those baancee are in the millions of xel. Unreachable at the current price thus turning away many potential supporters of the tech. Personally I don't care for myself, but when someone discovers xel they'll just see it as another scheme of the rich getting richer.


Don't advertise it as just needing 1000 xel and you're set. That's misleading. That's my 2 bits.