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Author Topic: [ANN][TAO] Tao, AltMarket & FanMix - Real Solutions for the Music Industry!  (Read 91505 times)
ACGCrypto
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April 20, 2020, 10:07:21 PM
Last edit: April 21, 2020, 01:13:28 AM by ACGCrypto
 #1281

It's a pretty strong assumption to make that price would be entirely unaffected by something like 20-25 % increase in supply.. Annually.

For two years I believe, then the intention is to have the DEX fees cover this. And it also fails to consider that there would be many investors who would not just dump all that Tao on the market but use it as delegates and/or stockpile enough to run another masternode.

But of course you're not only commenting without knowing that, or ignoring it, but you're looking at it in isolation without the rest of the ecosystem being considered.


Quote from: altmarket3
Oh the docs? The docs which are also still mostly unattributed verbatim copies of Tomo documentation?

A) it's already well established and even specifically disclaimed in the introduction that it's a work in progress

B) you're lying again, all the attribution is still there in the commits

C) if you're implying the documentation should be rewritten from scratch just to please you, that's just dumb and you should feel silly for suggesting it


Quote from: altmarket3
You know what isn't allowed, according to the license of that?

Changing the copyright notice.

You can do basically whatever you like with it, as long as you leave the copyright notice intact.

Guess what Bryce didn't do?

If you're referring to https://docs.tao.network/products/taoissuer/termofcondition/ then it's been fixed. Thank you for helping out! See? You can be useful! Good for you, little buddy!  Wink






I think I'll paste the economics and tech specs section of my last post down here since you've pushed us onto a new page. Thanks for keeping the thread surfaced, BTW.



Anyway, I'm going to now post about something more interesting than wasting my time verbally fencing with you.  

Let's talk a little about a couple of the technical specifications and the masternode economics.

I'm really looking forward to setting a masternode up for myself. This is what I've been waiting for; creating a sort of basic income for myself, quite at contrast with the short term mindset of the troll accounts hovering gnat-like around this project who all are obsessed with dumping coins.   Roll Eyes

So first off, the new EVM-based Tao network will be DPOS as previously mentioned, and will activate the masternodes which have been discussed since the Tao launch but never implemented until now. For this explanation I will use the abbreviation mn interchangeably with the full spelling.


Tao will feature 5 second average block times and the block reward will be 1 TAO per block. This will lead to an average 17,280 blocks per day, and the same number of TAO generated daily, which will be disbursed to all of the masternodes as well as to the delegates pledged to those masternodes.

For each TAO going to a masternode, 50% goes to the pledged delegates split proportionately to their pledges, 40% goes to the owner of the mn, and the balance goes to the board of governors to fund further development of the network.  

So for each TAO disbursed, .4 TAO will go to the operator, .5 to be split up proportionately to the delegates, and .1 to the board of governors.

The board of governors will be elected from the active masternodes by all Tao holders by amount of pledges per mn.

DPOS will work better for people with smaller balances since they will always earn proportional staking rewards when pledged to an active masternode, unlike traditional POS blockchains where people with small balances often don't get a chance to stake.


To clarify terminology for those who aren't familiar with DPOS, a masternode is an active node on the network and in the case of Tao requires 100,000 TAO to set up. There can be a maximum of 150 masternodes at any given time, a number which has been discussed within the Tao community for a few years now.

Which masternode candidates will be active is determined by the amount of delegates pledged to a given mn.  This means anyone who holds TAO can basically vote for a mn by temporarily locking their funds into a smart contract linked to that mn.  This is called pledging delegates.


At first there will presumably be fewer than 150 mn candidates so anyone who sets up a mn following the detailed instructions in the documentation will participate as active masternodes. After more people set theirs up that will create competition and incentivize mn operators to make sure their server specs are as robust as possible.  

And yes, this will be something best done on a server rented through AWS or DigitalOcean or a similar service, not on your laptop let alone a Raspberry Pi.  


So, now let's run some numbers and talk economics.

As mentioned, there are 17,280 new TAO generated by masternodes daily. This would total 518,400 in a 30-day month, or about 6.3 million in a 365 day year.

We'll consider two scenarios. One will be an initial scenario where we'll assume 25 masternodes in operation early on, the second will be further down the road when there are the max 150 mn in operation. We'll focus mainly on monthly income because I like to think of it like a basic income of sorts, or you could think of it as a business with monthly costs and profits if you prefer that model.

I won't bother talking about hypothetical future prices but will just go through the math using 2 cents per TAO as the price, which is half the price of ~4 cents per coin as I write this on April 20th, 2020.

Prices are in USD and should be considered examples. The point of this exercise is not to make a promise of earnings, but give you the formula I'm using to reach my projected numbers so you may run your own numbers and of course check my math.

17,280 per day * .02 = $345.60 average per day,
$345.60 * 30 days in a month = $10,368 average per month generated in total


This is then split between the block producers (masternodes) so

  • if 25 masternodes, then $10,368 / 25 = $414.72 monthly average per mn
    Masternode operator $414.72 * .4 = $165.88 monthly average
    Pledged delegates $414.72 * .5 = $207.36 monthly on average, shared proportionately
    and then the share to the board of governors $414.72 * .1 = $41.47 monthly avg from each mn


  • if 150 masternodes, we'd be looking at $10,368 / 150 = $69.12 monthly per mn
    Masternode operator $69.12 * .4 = $27.64 monthly
    Pledged delegates $69.12 * .5 = $34.56 monthly, shared proportionately
    and then the share to the board of governors $69.12 * .1 = $6.91 monthly from each mn


Now there is no sunk cost for the delegates beyond what they paid for their Tao in the first place.

Mn operators OTOH have to pay server rental fees.  These fees would start at about $40 per month, based on DigitalOcean pricing, and then as things become more competitive and resource intensive as the user base and blockchain both grow, this could soar to $320 a month, possibly more, again based on DO pricing.

So right out of the gate, it should be very profitable to run a masternode, assuming the 25 mn estimate is accurate.

I've given you the math so you can plug in alternative numbers and see how it works out if there are fewer to start with, but 25 seems like a plausible approximate starting number. 150 is the max possible so we can be confident projecting the worst case scenario given any given TAO price per coin.

I do think it is reasonable to assume that if more people buy the 100K TAO needed to run a masternode, this would likely result in the price of TAO rising due to slippage. Again, I'm not going to speculate here on future prices, but I don't think that's an unreasonable assumption. YMMV.  

I've been having fun running these hypothetical projections, so I thought I'd share the math with you so you could run your own.  This of course should not be construed as investment advice. If you see any errors in my math, please feel free to mention it and I'll be happy to revise my numbers.

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April 21, 2020, 08:44:24 AM
 #1282

You know what isn't allowed, according to the license of that?

Changing the copyright notice.

You can do basically whatever you like with it, as long as you leave the copyright notice intact.

Guess what Bryce didn't do?

Can I ask what file you're looking at? I see in the Tao2 repository the COPYING file hasn't been updated.

Thought these were a bit interesting, crypto celebrity "endorsements" of Bryce:





But I'm sure they are also wrong, just like the 100+ other people who have gone on record saying Bryce Weiner is a scammer.

And, for a bonus:




Fast forward 3 and a half years:



Give notsofast some free shit and his opinion can be changed quite easily, I guess. LOL.
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April 21, 2020, 09:33:47 AM
 #1283

Quote
Can I ask what file you're looking at? I see in the Tao2 repository the COPYING file hasn't been updated.

Sure. That file still refers to the original source (ethereum, of which Tomo is a fork).

The file I'm referring to is the LICENSE file in the docs repository, which was changed to refer to Tao rather than Tomochain in this commit: https://github.com/taoblockchain/docs/commit/c56c2abe487301f9a461d1749cb1ba3c422afe35#diff-9879d6db96fd29134fc802214163b95a

Which is explicitly not allowed by the MIT license (basically it's the only thing not allowed).

It's also funny that Bryce is claiming copyright of the whole documentation repo going back all the way to 2018.

And it doesn't really matter if it's a "work in progress" or not. Distributing that stuff without including the copyright notice is copyright infringement, plain and simple.

And on the whole doing a search-and-replace without checking at the very least that you're not breaking copyright with it is pretty much the absolute lowest bar you should clear.
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April 21, 2020, 05:44:57 PM
 #1284

Warning to all readers. This project is a known scam. Read more: https://bitcointalk.org/index.php?topic=5239328.0


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ACGCrypto
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April 21, 2020, 11:57:54 PM
 #1285

Warning to all readers.
Warning to all readers, Lauda is a known liar and internet tough guy.  Cheesy




Thought these were a bit interesting, crypto celebrity "endorsements" of Bryce:

Dude, did you seriously just dredge up and quote some old tweet from Brock Pierce of all people?? 😂🤣  That is really funny. Thanks for that.

Quote from: nutildah
And, for a bonus:


Fast forward 3 and a half years:



Give notsofast some free shit and his opinion can be changed quite easily, I guess. LOL.

lol. Typical dishonesty from you, Nutty.  I mean, soooooo typical. 

You know that NotSoFast just a few days ago replied to one of your tweets saying that while he originally thought Bryce was a scammer, he changed his mind and one of the reasons he owns it is because of the upside potential of his redemption story.



You also know he's owned Tao since 2017 so you're lying when you imply he was paid to tweet positively about it. You're also implying he violated securities laws by making a paid promotion like that, so you should probably report him to the SEC.  Like you did with Bryce via your Coinclarity account, remember that? What happened with that again? 🤔



I'll say it again. Be a better person.

And "Altmarket3," Bryce says the Tomo corporation should take him to court if in fact he did damages to them and broke the law in some way. Stop whining on forums and do something if you actually think he's breaking the law.

You guys are just embarrassing yourselves again, but are too dense to realize it.

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April 22, 2020, 04:51:57 AM
 #1286

Quote
Can I ask what file you're looking at? I see in the Tao2 repository the COPYING file hasn't been updated.

Sure. That file still refers to the original source (ethereum, of which Tomo is a fork).

The file I'm referring to is the LICENSE file in the docs repository, which was changed to refer to Tao rather than Tomochain in this commit: https://github.com/taoblockchain/docs/commit/c56c2abe487301f9a461d1749cb1ba3c422afe35#diff-9879d6db96fd29134fc802214163b95a

Which is explicitly not allowed by the MIT license (basically it's the only thing not allowed).

It's also funny that Bryce is claiming copyright of the whole documentation repo going back all the way to 2018.

And it doesn't really matter if it's a "work in progress" or not. Distributing that stuff without including the copyright notice is copyright infringement, plain and simple.

And on the whole doing a search-and-replace without checking at the very least that you're not breaking copyright with it is pretty much the absolute lowest bar you should clear.

Thanks. Just to illustrate what you're saying, here is the change being made by Bryce:



Here is what it says under these words:



It specifically says "the above copyright notice... shall be included in all copies" yet he changed it from TomoChain to Tao... He didn't even think to change the year!  Cheesy

Definitely a violation of the copyright notice, and again, demonstrates a sheer lack of morals, respect for the work of others, and originality. He can't be bothered to come up with a single original idea of his own because he clearly has no interest in thinking about this as a long-term project.

It will be interesting to see if he bothers changing it. My guess will be "no" because he thinks he's sticking it to us by knowingly engaging in copyright infringement.
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April 22, 2020, 05:46:14 PM
 #1287


And "Altmarket3," Bryce says the Tomo corporation should take him to court if in fact he did damages to them and broke the law in some way. Stop whining on forums and do something if you actually think he's breaking the law.

You guys are just embarrassing yourselves again, but are too dense to realize it.

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April 27, 2020, 06:09:59 PM
 #1288

April 27, 2020 update:

Bryce and AltMarket have been featured in part of an article in today's New York Times

https://www.nytimes.com/2020/04/27/technology/startups-sba-loans-backlash.html



You'll note that not only does the NY Times vet the legitimacy of people they interview, but AltMarket was able to get approved for a loan through the SBA which is only available to legal, tax-paying businesses. Nice nod to ODBcoin, too.

In the meantime, the new Ethereum-derived/EVM-based Tao network is up and running and is in the process of final tests before it will be possible to swap your coins over to the new network.

Coming shortly after will be mobile wallets; more to come after that. Expect a series of further announcements.  Smiley

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April 28, 2020, 04:37:51 AM
 #1289

You left out the title of the article:

"Start-Ups Pursue ‘Free Money’ With Relief Funds, Prompting Backlash"

What the fuck does Bryce need this money for? Tao's abject failure is no fault but his own.

Federal government is going to be pretty mad once they realized they lent money to such a sleazebag con artist.

But I know what you're thinking: so long as government money dribbles down into pumping your coin, you'll be happy.

You'll note that not only does the NY Times vet the legitimacy of people they interview

Like most everything you write, this is objectively bullshit. They didn't "vet" shit. They just found some doofus willing to be mentioned as shamelessly taking government money meant for the relief of small business owners impacted by the coronavirus.
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April 28, 2020, 04:46:19 AM
 #1290

April 27, 2020 update:

Bryce and AltMarket have been featured in part of an article in today's New York Times

https://www.nytimes.com/2020/04/27/technology/startups-sba-loans-backlash.html

http://acgimg.s3.amazonaws.com/Bryce-AltMarket-New-York-Times-2020-04-27.jpg

You'll note that not only does the NY Times vet the legitimacy of people they interview, but AltMarket was able to get approved for a loan through the SBA which is only available to legal, tax-paying businesses. Nice nod to ODBcoin, too.

In the meantime, the new Ethereum-derived/EVM-based Tao network is up and running and is in the process of final tests before it will be possible to swap your coins over to the new network.

Coming shortly after will be mobile wallets; more to come after that. Expect a series of further announcements.  Smiley

This is really great news for Bryce and AltMarket
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April 28, 2020, 05:12:25 PM
 #1291


You'll note that not only does the NY Times vet the legitimacy of people they interview

Like most everything you write, this is objectively bullshit. They didn't "vet" shit. They just found some doofus willing to be mentioned as shamelessly taking government money meant for the relief of small business owners impacted by the coronavirus.

Yes. Of course. The New York Times just randomly interviews people and then sends photographers out during a pandemic lockdown to take pics for the article! 😂 🤣 🤣

Comedy fucking gold. How is this site free??  Cheesy



You guys are just embarrassing yourselves again, but are too dense to realize it.









April 27, 2020 update:

Bryce and AltMarket have been featured in part of an article in today's New York Times

https://www.nytimes.com/2020/04/27/technology/startups-sba-loans-backlash.html

You'll note that not only does the NY Times vet the legitimacy of people they interview, but AltMarket was able to get approved for a loan through the SBA which is only available to legal, tax-paying businesses. Nice nod to ODBcoin, too.

In the meantime, the new Ethereum-derived/EVM-based Tao network is up and running and is in the process of final tests before it will be possible to swap your coins over to the new network.

Coming shortly after will be mobile wallets; more to come after that. Expect a series of further announcements.  Smiley

This is really great news for Bryce and AltMarket

Yes, it is!

I'm looking forward to setting up my first masternode once the bridge from the old to the new network is up and running, which I think will be in the next week or so.

It will tie my coins up and even if I stop running the mn they'd be locked up in the smart contract for a month, but I've been holding and staking for the long term since 2016 so it's more of a feature than a bug as far as I'm concerned.  Cool

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