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Author Topic: [ANN] galilel.org [GALI][BOUNTI] - MN/PoS/zPoS Hybrid-Dynamic Zerocoin Staking  (Read 24172 times)
m3mbr44n
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March 17, 2019, 02:48:59 PM
 #221

I'm not too concerned about the latest bugs discovered in the PIVX code - PIVX will no doubt come up with a fix pretty quickly and our dev will implement it accordingly. Galilel is in safe hands. The projects you should be worried about are those with no dev who, at best, outsource their coding needs to techies without a vested interest in the project. If you hold coins in other projects that have been forked from PIVX you should take a close look at them as you may want to reconsider those investments! Go GALI!

As far as I have been able to see, the GALI team has been following-up fixes in the PIVX code at a fairly quick rate in the past couple of months.
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March 17, 2019, 07:29:55 PM
 #222

I'm not too concerned about the latest bugs discovered in the PIVX code - PIVX will no doubt come up with a fix pretty quickly and our dev will implement it accordingly. Galilel is in safe hands. The projects you should be worried about are those with no dev who, at best, outsource their coding needs to techies without a vested interest in the project. If you hold coins in other projects that have been forked from PIVX you should take a close look at them as you may want to reconsider those investments! Go GALI!
In recent times, there are a lot of places where “reworking” is going on in projects, and this is not very good, you have to constantly watch so as not to lose your funds, spending a lot of time if these projects are 50-100.

TWINS Coin a truly DEX!!!
 ★Join COMMUNITY★ (https://discord.gg/GPxESzB)
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March 17, 2019, 09:10:40 PM
 #223

A normal, stable project, with its plans, developments, I am sure it has a future.
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March 18, 2019, 11:07:03 AM
 #224

Apparently PIVX have already fixed the vulnerability which affects all PIVX forks that are using Zerocoin v2 protocol. My understanding is that the issue, in the case of PIVX, is that someone was able to create PIV from zPIV which didn't legitimately exist.

We're all looking forward to an announcement, hopefully sometime this week, that our legendary dev 'babyface' has sorted out this exploit in Zerocoin protocol implementation. What is reassuring to know is that the bug doesn't allow anyone to steal or tamper with your GALI or zGALI holdings.

What I would like to know though is, if somebody were to create GALI from zGALI that didn't actually exist, what are the ramifications of that? Presumably they could then convert that GALI into zGALI, which I guess would then legitimately exist? Also, what about the supply? If GALI (or any fork of PIVX for that matter) were to be created out of thin air, would the project then need to adjust the supply parameters or change the rate of emissions to compensate for the increased supply?  Huh
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March 19, 2019, 11:19:41 AM
 #225

It's been a little quiet over the past day or so with not much going on in the Galilel community - at least not much general chat in the discord server. Having said that, I have every confidence that the Galilel team are continually working hard behind the scenes to advance the project.

Development continues apace, along with business partnerships being struck and of course there is always support there if you need it (in discord) for anything to do with your wallet, running masternodes or staking.

If you are new to GALI and have yet to join the discord, feel free to use the following invite:

https://discord.gg/sVDmsh8

We're a friendly bunch of people on a mission to see GALI gain adoption as a general purpose cryptocurrency.
m3mbr44n
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March 19, 2019, 12:12:55 PM
 #226

Apparently PIVX have already fixed the vulnerability which affects all PIVX forks that are using Zerocoin v2 protocol. My understanding is that the issue, in the case of PIVX, is that someone was able to create PIV from zPIV which didn't legitimately exist.

We're all looking forward to an announcement, hopefully sometime this week, that our legendary dev 'babyface' has sorted out this exploit in Zerocoin protocol implementation. What is reassuring to know is that the bug doesn't allow anyone to steal or tamper with your GALI or zGALI holdings.

What I would like to know though is, if somebody were to create GALI from zGALI that didn't actually exist, what are the ramifications of that? Presumably they could then convert that GALI into zGALI, which I guess would then legitimately exist? Also, what about the supply? If GALI (or any fork of PIVX for that matter) were to be created out of thin air, would the project then need to adjust the supply parameters or change the rate of emissions to compensate for the increased supply?  Huh

Good to hear the dev team is on top of this. Waiting to hear what the approach/solution is going to be.
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March 20, 2019, 10:23:39 AM
 #227

If any of you downloaded the Android beta mobile wallet recently (Beta1 or Beta2), you'll no doubt be excited to hear that our dev has been burning the midnight oil - he has fixed all the reported bugs (crashes etc) in github. The latest version is available for download here:

https://galilel.cloud/android/galilel-git-c7a9571-debug.apk

As before, the community is encouraged to download the latest release and test it. The more that it is tested at this stage, the greater the likelihood that the final version will be bug free when released in Play Store.

In order to gather as much feedback as possible, whenever you face a wallet crash, please create a bug report from within the app which will be emailed to the dev.
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March 21, 2019, 10:57:29 AM
 #228

The Galilel Project continues to forge ahead on a daily basis - small steps maybe, but nevertheless forward momentum which I am sure will only continue to gather pace...

The latest announcement (https://youtu.be/UNm3Xa911A8) is that Galilel has been listed on Apollon Nodebuilder platform.

Here's a link to where you can run your masternode:

https://platform.apollon.network/

There are now a wide choice of ways/places that you can run $GALI masternodes; from setting up masternodes yourself on a VPS to outsourcing the whole process/maintenance etc to a vetted third party such as Apollon.
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March 22, 2019, 04:06:29 PM
 #229

***REWARDS REDUCTION***

Today marks another milestone in the Galilel blockchain with the final rewards reduction coming into play having passed block 430000.

Rewards have now halved from 10 to 5 and will be shared 70% to masternodes, 30% to stakers.

I should also point out that the rewards for GALI/zGALI stakers are different, favouring zGALI. My understanding is as follows:

zGALI stakers get 3, MN 2
GALI stakers get 2, MN3
crypto_pj
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March 23, 2019, 11:05:55 AM
 #230

Masternodes v Staking

I'm wondering whether anybody can please explain to me the pros and cons of running GALI masternodes versus staking GALI (aside from the practical aspect concerning needing to keep your computer on and connected to the internet for staking). Furthermore what the benefits are of staking zGALI?

Whilst on the face of it masternodes get greater rewards than if you were staking, one thing that I have often wondered about is if you had a GALI masternode running and also had 15k GALI staking, is it possible to gain greater rewards from the staked coins than from the masternode by splitting the 15k into stacks of a certain size? Is their a magic number that can 'beat the system' or is it technically impossible?

Finally, when it comes to staking zGALI, given that staking zGALI gains greater rewards than running a GALI masternode, why doesn't everybody stake zGALI and stop running masternodes? At some point the zGALI could be converted back 1:1 to GALI - surely this process is the best way to increase your future balance of GALI?

Oh, one more question I'd be grateful for an answer to...am I correct in that you only pay a fee to convert GALI to zGALI i.e. converting zGALI back to GALI does not incur a network fee?
DarkKnightNeverDie
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March 23, 2019, 02:33:23 PM
 #231

Rewards for masternodes are higher than for staking.
However, capital for masternodes are higher than for staking.
In long run, ROI for masternodes is higher than for staking.
m3mbr44n
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March 23, 2019, 06:32:56 PM
 #232

***REWARDS REDUCTION***

Today marks another milestone in the Galilel blockchain with the final rewards reduction coming into play having passed block 430000.

Rewards have now halved from 10 to 5 and will be shared 70% to masternodes, 30% to stakers.

I should also point out that the rewards for GALI/zGALI stakers are different, favouring zGALI. My understanding is as follows:

zGALI stakers get 3, MN 2
GALI stakers get 2, MN3

I can indeed confirm that the zGALI's that I am staking are producing more rewards than regular GALI's. Nice, I have not seen this in any other project so far (maybe there is?). Anyway, good to promote zGALI and have people experience it.
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March 24, 2019, 11:12:06 AM
 #233

OK so I may be accused of impatience, but I've no doubt we're all still wondering when (if ever!) Galilel will get listed on CoinMarketCap?

I think it must be several weeks now since it came to light that CMC had apparently overlooked the fact that Babyface sent answers to all their questions months ago, yet we haven't heard another word from them.

One thing that concerns me slightly (and I would be grateful if someone from the team could provide an answer to this) is that this morning, when doing a bit of research into other cryptos, I read somewhere that to be listed on CMC they require your token to have a minimum trading volume of USD$5k per day. If that is the case then that may explain why we have yet to get listed - alternatively what I read could simply be inaccurate and misleading.

Anybody?  Huh
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March 25, 2019, 10:48:30 AM
 #234

I was doing a bit of research over the weekend into various crypto projects that, like Galilel, were forked from PIVX. In the vast majority of cases the similarity ends there. From what I've read it appears that the majority of these tokens don't seem to either know what zCOIN is/can do or have no intention of implementing it due to the inherent development complexities!

To add to this sorry state of affairs, I also get the distinct impression that, aside from a few well funded bigger projects that have full time dev(s) on board, a great deal of these crypto projects either (if they're lucky) have a dev that is working on a part-time voluntary basis but often across more than one project, or don't have a competent dev at all and have to outsource any requirements to a (paid) third party. Invariably they can't afford to do much - an essential fix here and there at best with very little development as such.

This loose assessment of mine reflects well on GALI! Of the hundreds of PIVX forks out there, most have very little prospect of reaching their goals. However we have our own world class dev who, like the rest of the team, is not only committed to making Galilel Project a success but also has every chance of actually realising it.

 Grin
m3mbr44n
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March 25, 2019, 01:39:46 PM
 #235

OK so I may be accused of impatience, but I've no doubt we're all still wondering when (if ever!) Galilel will get listed on CoinMarketCap?

I think it must be several weeks now since it came to light that CMC had apparently overlooked the fact that Babyface sent answers to all their questions months ago, yet we haven't heard another word from them.

One thing that concerns me slightly (and I would be grateful if someone from the team could provide an answer to this) is that this morning, when doing a bit of research into other cryptos, I read somewhere that to be listed on CMC they require your token to have a minimum trading volume of USD$5k per day. If that is the case then that may explain why we have yet to get listed - alternatively what I read could simply be inaccurate and misleading.

Anybody?  Huh

Yes, this is also what I have learned from other projects that were applying from CMC. It takes a bit of trading volume to get notices and listed.
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March 25, 2019, 04:46:42 PM
 #236

OK so I may be accused of impatience, but I've no doubt we're all still wondering when (if ever!) Galilel will get listed on CoinMarketCap?

I think it must be several weeks now since it came to light that CMC had apparently overlooked the fact that Babyface sent answers to all their questions months ago, yet we haven't heard another word from them.

One thing that concerns me slightly (and I would be grateful if someone from the team could provide an answer to this) is that this morning, when doing a bit of research into other cryptos, I read somewhere that to be listed on CMC they require your token to have a minimum trading volume of USD$5k per day. If that is the case then that may explain why we have yet to get listed - alternatively what I read could simply be inaccurate and misleading.

Anybody?  Huh

There is a volume requirement. However CMC itself doesn't put a specific number on it. All they say is they don't consider fake volume to count against it (which by my assessment can not be true, since plenty of projects with obvious insane fake volume get listed). Currently it probably comes down to volume which we have no influence on. Sadly everytime we submit the requested information we get a copy/paste reply that someone from CMC will look into it and come back to us. As you might guess it's not possible for us to ask what they specifically think is missing so it's all a guessing game for us too. However seeing that they list forked projects with no inhouse developer at all we guess it is volume.

I understand that people get impatient. Unfortunately remaining patient is all we can do since we simply have no control over the process. Also keep in mind that CMC doesn't just request simple one liner's with regard to information. By now Babyface submitted several times new information on their request which takes a good amount of time. So on his end this process is also connected to a lot of work
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March 26, 2019, 10:51:12 AM
 #237

OK so I may be accused of impatience, but I've no doubt we're all still wondering when (if ever!) Galilel will get listed on CoinMarketCap?

I think it must be several weeks now since it came to light that CMC had apparently overlooked the fact that Babyface sent answers to all their questions months ago, yet we haven't heard another word from them.

One thing that concerns me slightly (and I would be grateful if someone from the team could provide an answer to this) is that this morning, when doing a bit of research into other cryptos, I read somewhere that to be listed on CMC they require your token to have a minimum trading volume of USD$5k per day. If that is the case then that may explain why we have yet to get listed - alternatively what I read could simply be inaccurate and misleading.

Anybody?  Huh

There is a volume requirement. However CMC itself doesn't put a specific number on it. All they say is they don't consider fake volume to count against it (which by my assessment can not be true, since plenty of projects with obvious insane fake volume get listed). Currently it probably comes down to volume which we have no influence on. Sadly everytime we submit the requested information we get a copy/paste reply that someone from CMC will look into it and come back to us. As you might guess it's not possible for us to ask what they specifically think is missing so it's all a guessing game for us too. However seeing that they list forked projects with no inhouse developer at all we guess it is volume.

I understand that people get impatient. Unfortunately remaining patient is all we can do since we simply have no control over the process. Also keep in mind that CMC doesn't just request simple one liner's with regard to information. By now Babyface submitted several times new information on their request which takes a good amount of time. So on his end this process is also connected to a lot of work

Thanks for shedding some light on the situation. Please don't misunderstand me - I'm not criticising Babyface or anyone else on the team...my (our) frustration is with CoinMarketCap (CMC). I am fed up with seeing so many projects listed on CMC that are widely recognised to be scams or very suspect at best. Galilel really seems to be stuck in limbo - a classic 'chicken and egg' situation - we need more volume but without a listing on CMC reaching the requisite volume (whatever figure that may be) on a consistent basis is going to be difficult.

Out of interest, can you please explain how volume can be faked? If I were to buy say 0.1BTC of $GALI and then on the same day sell it back to myself for less than I paid for it, obviously I would be taking a hit financially but it would get the volume up - surely that scenario wouldn't be classed as fake volume given that a genuine buy and sell has taken place? If a number of people did this then the daily volume could soon hit some respectable figures. The downside is that in a short space of time we could all have wasted our funds! Presumably there are sophisticated ways of doing this using bots that might help minimise your losses or even make some profits in the process? What is your (Galilel's) stance on this process from an ethical/moral standpoint? I must admit that I'm swaying towards 'if you can't beat them, join them'. We're a legitimate project with great prospects but are 'waiting in the wings' whilst the rest of the crypto show continues!
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March 26, 2019, 02:39:29 PM
 #238

OK so I may be accused of impatience, but I've no doubt we're all still wondering when (if ever!) Galilel will get listed on CoinMarketCap?

I think it must be several weeks now since it came to light that CMC had apparently overlooked the fact that Babyface sent answers to all their questions months ago, yet we haven't heard another word from them.

One thing that concerns me slightly (and I would be grateful if someone from the team could provide an answer to this) is that this morning, when doing a bit of research into other cryptos, I read somewhere that to be listed on CMC they require your token to have a minimum trading volume of USD$5k per day. If that is the case then that may explain why we have yet to get listed - alternatively what I read could simply be inaccurate and misleading.

Anybody?  Huh

There is a volume requirement. However CMC itself doesn't put a specific number on it. All they say is they don't consider fake volume to count against it (which by my assessment can not be true, since plenty of projects with obvious insane fake volume get listed). Currently it probably comes down to volume which we have no influence on. Sadly everytime we submit the requested information we get a copy/paste reply that someone from CMC will look into it and come back to us. As you might guess it's not possible for us to ask what they specifically think is missing so it's all a guessing game for us too. However seeing that they list forked projects with no inhouse developer at all we guess it is volume.

I understand that people get impatient. Unfortunately remaining patient is all we can do since we simply have no control over the process. Also keep in mind that CMC doesn't just request simple one liner's with regard to information. By now Babyface submitted several times new information on their request which takes a good amount of time. So on his end this process is also connected to a lot of work

Thanks for shedding some light on the situation. Please don't misunderstand me - I'm not criticising Babyface or anyone else on the team...my (our) frustration is with CoinMarketCap (CMC). I am fed up with seeing so many projects listed on CMC that are widely recognised to be scams or very suspect at best. Galilel really seems to be stuck in limbo - a classic 'chicken and egg' situation - we need more volume but without a listing on CMC reaching the requisite volume (whatever figure that may be) on a consistent basis is going to be difficult.

Out of interest, can you please explain how volume can be faked? If I were to buy say 0.1BTC of $GALI and then on the same day sell it back to myself for less than I paid for it, obviously I would be taking a hit financially but it would get the volume up - surely that scenario wouldn't be classed as fake volume given that a genuine buy and sell has taken place? If a number of people did this then the daily volume could soon hit some respectable figures. The downside is that in a short space of time we could all have wasted our funds! Presumably there are sophisticated ways of doing this using bots that might help minimise your losses or even make some profits in the process? What is your (Galilel's) stance on this process from an ethical/moral standpoint? I must admit that I'm swaying towards 'if you can't beat them, join them'. We're a legitimate project with great prospects but are 'waiting in the wings' whilst the rest of the crypto show continues!

You gave the explanation yourself. You can see it in a lot of coins that it is a bot which does it. Galilel will not engage in such practices or pay third parties to do it. First it is illegal. Second we believe not everybody is stupid. I think this dissuades people who are genuinely interested in the project longterm when they see that the team engages in such tactics or doesn't condemn them just for short term success. Faking volume just to convey people a sense of safety is pure deception and imho reflects very poorly on the project itself. And when you arrive at this point it's not about CMC anymore but rather if this is a project that can be trusted. Besides that like I said it is illegal to do it.
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March 26, 2019, 09:04:40 PM
 #239

You gave the explanation yourself. You can see it in a lot of coins that it is a bot which does it. Galilel will not engage in such practices or pay third parties to do it. First it is illegal. Second we believe not everybody is stupid. I think this dissuades people who are genuinely interested in the project longterm when they see that the team engages in such tactics or doesn't condemn them just for short term success. Faking volume just to convey people a sense of safety is pure deception and imho reflects very poorly on the project itself. And when you arrive at this point it's not about CMC anymore but rather if this is a project that can be trusted. Besides that like I said it is illegal to do it.

At least GALI is listed at Coinpaprika (which I actually prefer above CMC lately). GALI stands at a very respectable #1312 at the moment and has been rising.
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March 27, 2019, 11:02:32 AM
 #240

You gave the explanation yourself. You can see it in a lot of coins that it is a bot which does it. Galilel will not engage in such practices or pay third parties to do it. First it is illegal. Second we believe not everybody is stupid. I think this dissuades people who are genuinely interested in the project longterm when they see that the team engages in such tactics or doesn't condemn them just for short term success. Faking volume just to convey people a sense of safety is pure deception and imho reflects very poorly on the project itself. And when you arrive at this point it's not about CMC anymore but rather if this is a project that can be trusted. Besides that like I said it is illegal to do it.

At least GALI is listed at Coinpaprika (which I actually prefer above CMC lately). GALI stands at a very respectable #1312 at the moment and has been rising.

Thanks for the response eshby - I'm glad to see that a member of the team is actively monitoring Bitcointalk!

The volume side of things is very frustrating but I appreciate your stance to playing fair. Perhaps over the course of time those projects that are manipulating the true picture will fall by the wayside and projects like Galilel will gain the recognition they truly deserve.

It's a shame that the cryptosphere places so much value on the information found at CoinMarketCap - as m3mbr44n points out, there are alternative platforms such as Coinpaprika (which I am also swaying towards lately). Hopefully CMC will gradually lose its perception as being 'the holy grail' of listings!
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