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Author Topic: [ANN] [XEL] :: Elastic - The Decentralized Supercomputer ::  (Read 218221 times)
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coralreefer
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August 07, 2017, 11:21:05 PM
 #1921

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...
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August 08, 2017, 12:35:17 AM
 #1922

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.

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August 08, 2017, 12:49:27 PM
 #1923

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!  Smiley

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.

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August 08, 2017, 01:46:38 PM
 #1924

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

I can't take this anymore Roll Eyes 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!
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August 08, 2017, 04:42:14 PM
 #1925

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!  Smiley

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.

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August 08, 2017, 05:39:56 PM
 #1926

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.
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August 08, 2017, 05:56:18 PM
 #1927

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

Yes - how else would it work?

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August 08, 2017, 09:21:53 PM
 #1928

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?

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August 08, 2017, 09:30:47 PM
 #1929

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 50-100М, up to 200M. That's just because a lot of projects that don't have a working product cost a lot more.
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August 08, 2017, 09:33:43 PM
 #1930

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.
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August 08, 2017, 09:37:41 PM
 #1931

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
 #1932

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
 #1933

Hi people, why does XEL raise and GNT fall?
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August 09, 2017, 02:30:42 AM
 #1934

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
 #1935

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
 #1936

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
 #1937

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
 #1938

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
 #1939

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.

Passion.
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August 09, 2017, 06:53:44 AM
 #1940

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

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