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Author Topic: [ANN] [XEL] :: Elastic - The Decentralized Supercomputer ::  (Read 147420 times)
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ImI
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August 08, 2017, 09:37:41 PM
 #1961

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. That's my 2 bits.

PoS is "The rich getting richer." And PoW obv too.

And btw you didnt answer his question: How else should could PoS work if not by paying per XEL?

I have to say i am often astonished about folks that are part of BTT for years and still have to learn the absolute basics of what secures the Blockchain, be it PoW or PoS.

Edit: You see getting paid per XEL is basically how PoS works, if you would give the same amount of earnings to every forger be it no matter if he holds 1 XEL or 100 XEL everyone would just spread their XEL into thousands of little 1 XEL Accounts and forge that way.

It simply doesn't make any sense what you are inherently proposing here. Cryptocurrencies are not socialism and wouldn't work if someone would try to force socialism onto them. Cryptocurrencies and the whole cryptocurrency economy are pure capitalism. If you like it or not.

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August 09, 2017, 12:12:05 AM
 #1962

Developers for this coin are constantly working!! Anyone know when product will be released? Id love to see the workings of a supercomputer!! 😀

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August 09, 2017, 12:53:44 AM
 #1963

Hi people, why does XEL raise and GNT fall?
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August 09, 2017, 02:30:42 AM
 #1964

Hi people, why does XEL raise and GNT fall?

Supply and demand to put it simply. Even now GNT has a marketcap 5 times higher than XEL. Lots of upside for XEL is my guess.
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August 09, 2017, 04:42:36 AM
 #1965

Hi people, why does XEL raise and GNT fall?

Supply and demand to put it simply. Even now GNT has a marketcap 5 times higher than XEL. Lots of upside for XEL is my guess.

XEL low in market cap. It is undervalued. People gathering coins make XEL raise.

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August 09, 2017, 06:03:52 AM
 #1966

How is the code transition going so far?  I believe that was the last thing I remember reading about the devs working on.  Regardless, nice support on the exchange for this coin.  Hold.

                                 
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August 09, 2017, 06:05:02 AM
 #1967

I think supercomputer is next big thing in crtpto world
 There are few projects and elastic is very promising.

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August 09, 2017, 06:17:49 AM
 #1968

I think supercomputer is next big thing in crtpto world
 There are few projects and elastic is very promising.

I trust supercomputer concept product will viral on social media in 2018. Let's look forward to it together.

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August 09, 2017, 06:20:36 AM
 #1969

Hi people, why does XEL raise and GNT fall?

They released a new beta and will release a final soon. Also, I think, their product is better, as they have their own programming language, for users to use.

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August 09, 2017, 06:53:44 AM
 #1970

Im looking graph...could be green day today.... Wink

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August 09, 2017, 07:37:12 AM
 #1971

This trading talk really sucks!
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August 09, 2017, 08:16:59 AM
 #1972

This trading talk really sucks!

I don't mind the trading/price talk, it's an integral/normal part of having the coin out and traded. But, this talk is better done in specific places (dedicated for that cause - in the price bct thread (https://bitcointalk.org/index.php?topic=1589333.0;topicseen) and in the forum and slack for example) and not here in the main thread.

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August 09, 2017, 08:33:42 AM
 #1973

I was wondering, if this is going to be a success and lots of companies use it, how will people be incentified (is that the word?) to run nodes? To have as much computing power as possible
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August 09, 2017, 11:28:07 AM
 #1974

I was wondering, if this is going to be a success and lots of companies use it, how will people be incentified (is that the word?) to run nodes? To have as much computing power as possible

They will be paid in XEL by the one who offers the job.
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August 09, 2017, 02:54:17 PM
 #1975

I think supercomputer is next big thing in crtpto world
 There are few projects and elastic is very promising.

Agreed. XEL will have a good momentum.
Check out RLC coin as well. Same concept, but probably the most undervalued "supercomputing" coin there. And a truly fantastic team behind.

If you believe in supercomputing on the blockchain, you should have both of these coins in his portfolio.

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August 09, 2017, 03:55:02 PM
 #1976

How do i (mine) XEL?  or that info i found on the web is wrong and i cant mine XEL?

Bytecoin Wallet 24X8zfht5jDfhbJbhpCtr3PPyBPR9wKGictFdxN5EB9Cgb9UtNDBozcBTyHjKXbi9hc6qRsBUYXTziC XPH56ZRMxDzfrxuu
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August 09, 2017, 07:00:04 PM
 #1977

PoS is "The rich getting richer." And PoW obv too.

And btw you didnt answer his question: How else should could PoS work if not by paying per XEL?

I have to say i am often astonished about folks that are part of BTT for years and still have to learn the absolute basics of what secures the Blockchain, be it PoW or PoS.

Edit: You see getting paid per XEL is basically how PoS works, if you would give the same amount of earnings to every forger be it no matter if he holds 1 XEL or 100 XEL everyone would just spread their XEL into thousands of little 1 XEL Accounts and forge that way.

It simply doesn't make any sense what you are inherently proposing here. Cryptocurrencies are not socialism and wouldn't work if someone would try to force socialism onto them. Cryptocurrencies and the whole cryptocurrency economy are pure capitalism. If you like it or not.



Lol you said it much better than I could!  


Frankly I used to be surprised by this sort of ignorance but I see so many examples of it that I'm not any more.  It is more worrying that people would invest time and money in things they quite clearly don't understand but if we look at the success of financial scams in general (not just crypto) it is not such a shock.

I also see a lot of this extreme socialist kind of thought that comes from intellectual laziness - people often ask for "equality" without even considering the actual consequences of it.  Further they don't even think of the fact that whenever communism or extreme socialist agendas have been attempted they have often resulted in even more inequality by creating a tiny oligarchy which lives in absolute comfort whilst everyone else is forced to have equality in miserable poverty.  

Bringing it back to the crypto world:

If you haven't bought in or contributed to the project in another way (e.g. code) why should you be rewarded equally to those that have?  It is clearly a nonsense not to mention the fact that it couldn't even work mathematically - how would the algorithm work - would people get random rewards?

Then what is the incentive to hold any coins at all? - Just stick some dust in a million wallets and you will make a ton of XEL.  It would create a ridiculous situation.

The basic theme underlying these sentiments is a sense of entitlement that seems rife nowadays - the idea that everyone should be rich or wealthy without having to put in the effort that it takes to get there.

To be frank it is quite immature, not to mention a fantasy.

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LemonAndFriesOne
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August 10, 2017, 04:21:06 AM
 #1978

The misconception of what socialism even is in this thread is disappointing.

You all do realize that Bitcoin in its purest form is a type of communist concept right? Satoshi was trying to even out the field in the world of the haves too much and haves not much at all.

Even XEL "Decentralized" motto should tell you everything  Roll Eyes

Anyways I'll be shutting off my node as seeing members in the community just see this as a "get rich quick scheme and let's centralize it".  I'll be watching from the sidelines.
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August 10, 2017, 06:35:27 AM
 #1979

I find the similar project form wiki. If someone interested to know..

https://en.wikipedia.org/wiki/Berkeley_Open_Infrastructure_for_Network_Computing

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ttookk
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August 10, 2017, 07:13:03 AM
 #1980

The misconception of what socialism even is in this thread is disappointing.

You all do realize that Bitcoin in its purest form is a type of communist concept right? Satoshi was trying to even out the field in the world of the haves too much and haves not much at all.

Even XEL "Decentralized" motto should tell you everything  Roll Eyes

Anyways I'll be shutting off my node as seeing members in the community just see this as a "get rich quick scheme and let's centralize it".  I'll be watching from the sidelines.

(…)

It simply doesn't make any sense what you are inherently proposing here. Cryptocurrencies are not socialism and wouldn't work if someone would try to force socialism onto them. Cryptocurrencies and the whole cryptocurrency economy are pure capitalism. If you like it or not.


(…)

I also see a lot of this extreme socialist kind of thought that comes from intellectual laziness - people often ask for "equality" without even considering the actual consequences of it.  Further they don't even think of the fact that whenever communism or extreme socialist agendas have been attempted they have often resulted in even more inequality by creating a tiny oligarchy which lives in absolute comfort whilst everyone else is forced to have equality in miserable poverty.  

(…)

Could you please leave out the political talk? Every time I read "socialist" or "communist" somewhere, I know I'm about to see a massive mudflinging fest, with no winner, but a lot of losers.

Regarding the "rich getting richer" thing:

What is called PoS in XEL is not exactly a rich getting richer scheme. Apart from transaction fees, there is nothing to earn. In the last hour, there were four transactions, which add up to 0.4 XEL transaction fees. And someone has to mine those blocks which have no transactions at all.

I'm pretty sure that no matter how big a whale you are, at the moment, staking loses you more money than it makes. This indicates, that whoever is staking at the moment, does this either for fun or because they believe in the future success of Elastic, when there will be multiple transactions per block and staking might actually be profitable. At the moment, it loses them money rather than making them money.

That all being said, I have yet to see a convincing concept of a "Proof of…"-system that rules out the possibility of people with lots of money buying a better position, be it by buying stakes (PoS), hardware (PoW) or votes (DPoS). I'm not exactly a fan of "rich getting richer" schemes myself, which, admittedly, is partly because I'm not one of them, but as long as there is no convincing alternative solution, I consider it a given.

This has nothing to do with politics, but with inevitable effects resulting from applying a set of rules. You can't choose only the parts that you like and leave out the rest, that is not how these systems work. You can only change so much to keep a system in a workable state, anything else has to be adapted to the given set of rules (and the consequences following these rules).

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HACKEN

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