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Author Topic: Idena is the first Proof-of-Person Blockchain  (Read 41389 times)
Tytanowy Janusz
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August 09, 2022, 06:36:24 AM
Last edit: August 09, 2022, 06:49:46 AM by Tytanowy Janusz
 #2281

With or without IIP, each of my coins still worth $0.03 the ATL price after 2 years.

The devs (community devs) should see that something  is not working by now, should see something needs to be changed.

My 2 cents.

IIP-5 is not live yet. We just won voting and update was announced:

"Dear Idena community,

The Oracle voting for IIP-5 is finished.  The vast majority (89% of voters) voted in favor of the proposed changes.

The introduction of IIP-5 is a turning point in IDENA tokenomics which was based on the principle of equal rewards. Unfortunately we've seen that such a model encourages coercion, the growth of pools and does not promote decentralization.

Idena protocol, driven by democracy, is capable of responding to the challenges. We sincerely appreciate your support! IIP-5 changes will be integrated in the next hard fork. Please follow the updates."
https://t.me/IdenaAnnouncements/1118


To be hones I lost a lot of hopes with this project when farms were discovered. I posted here many times that not fighting them is a mistake. But I couldn't quit this project. Main goal of it was so unique and beautiful.

Likely devs realized it too and find out a great solution. As far as I know many farms already declared that they are going to leave after IIP-5. We are back on track as true POP network with 1 node equal 1 vote. Without farms that were robbing solo miners from revenue, leeches that pulled capital out of the network, giving only a negative value in return - cheated flips (picture of first word, picture of second word, paints, 2 words painted in frame).

Its great to see that even with them network was able to shake them out in democratic vote showing that money/farmed identities in the end of the day wasn't able to stop democratic network from shaking off the leeches (if they will, in fact, leave).

After they leave solo miners revenue will pump and people will bring here their friends to mine. Some of them will only mine, some of them will invest. Network will start new life.

In my opinion, together with new life of network, price will fallow. I bealive it first time in months. Especially with one of a kind staking (high yeld for small/middle miners, small yeld for whales. All combined with sybil resistance).

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August 13, 2022, 04:13:15 PM
 #2282

With or without IIP, each of my coins still worth $0.03 the ATL price after 2 years.

The devs (community devs) should see that something  is not working by now, should see something needs to be changed.

My 2 cents.
Dev never thought about marketing to promote IDENA widely and introduce IDENA to everyone, still a question mark now where are the ambassador funds that should be used to make IDENA widely famous?

Just look at the validated identities that are decreasing day by day because the interest of the community decreases, maybe IDENA can form ambassadors from each country so that IDENA is more widely known and the ambassador's funds should be used to finance ambassadors to promote IDENA so that it can attract local investors to adopt IDENA and make value better, Dev never think about marketing or promotion

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Tytanowy Janusz
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August 14, 2022, 07:24:18 AM
 #2283

Dev never thought about marketing to promote IDENA widely and introduce IDENA to everyone, still a question mark now where are the ambassador funds that should be used to make IDENA widely famous?

Just look at the validated identities that are decreasing day by day because the interest of the community decreases, maybe IDENA can form ambassadors from each country so that IDENA is more widely known and the ambassador's funds should be used to finance ambassadors to promote IDENA so that it can attract local investors to adopt IDENA and make value better, Dev never think about marketing or promotion

Devs are very skimpy. They announced many marketing programs (including bitcointalk signature campaign) but all of them were very poorly rewarded. Like write article and the best wins 500 IDNA (15$ for best article XD). I think its mainly because whole marketcap is 2 mln $ and spending thousands on marketing may not be the best idea. Especially when you know your project is unique and worth 100x more. They know that its not a sprint. especially that they still work on stability of network (f.e IIP-5 update that focuses on ensuring safe/healty/stable growth of network) It would be much harder to do it with 200k nodes.


Number of nodes is decreasing because of bear market and price dump. Few farmers quit because it was hardly profitable to mine at this price. After IIP-5 we will see even bigger drop in number of nodes because farms will be even less profitable and few farm owners already declared that they will leave. Good for us, solo miners.

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piebeyb
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August 14, 2022, 05:44:35 PM
 #2284

Dev never thought about marketing to promote IDENA widely and introduce IDENA to everyone, still a question mark now where are the ambassador funds that should be used to make IDENA widely famous?

Just look at the validated identities that are decreasing day by day because the interest of the community decreases, maybe IDENA can form ambassadors from each country so that IDENA is more widely known and the ambassador's funds should be used to finance ambassadors to promote IDENA so that it can attract local investors to adopt IDENA and make value better, Dev never think about marketing or promotion

Devs are very skimpy. They announced many marketing programs (including bitcointalk signature campaign) but all of them were very poorly rewarded. Like write article and the best wins 500 IDNA (15$ for best article XD). I think its mainly because whole marketcap is 2 mln $ and spending thousands on marketing may not be the best idea. Especially when you know your project is unique and worth 100x more. They know that its not a sprint. especially that they still work on stability of network (f.e IIP-5 update that focuses on ensuring safe/healty/stable growth of network) It would be much harder to do it with 200k nodes.


Number of nodes is decreasing because of bear market and price dump. Few farmers quit because it was hardly profitable to mine at this price. After IIP-5 we will see even bigger drop in number of nodes because farms will be even less profitable and few farm owners already declared that they will leave. Good for us, solo miners.


some pool owners may split their pools into family pools or medium pools or choose a solo mining path, I think before or after IIP-5 will not give any other surprises from IDENA and it is difficult to raise the price if IDENA is not well introduced by their community globally. By the way, I'm still here to support IDENA because Dev continues to work on IDENA's development even though I know IDENA can't do anything great at a time when the market is bearish like it is today.

Qi.Blockchain|..The only blockchain the..
..world will ever need...
|Eco-friendly
Decentralized
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|
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Tytanowy Janusz
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August 15, 2022, 06:27:02 AM
 #2285

some pool owners may split their pools into family pools or medium pools or choose a solo mining path,

It will change nothing. The picture you posted shows network statistics (how many farms of type x we have and how much all of them earn). It does not say that by making farm smaller you will earn more. just like average penis size in Ecuador is 17,6 cm. It does not mean that your penis will get bigger after you move there from your country (f.e Taiwan with average 12.6 cm). After IIP-5 earnings will depend on amount of staked coins. Number of nodes in farm does not matter. Their decision will be:

1- accept 30-50% lower returns
2- load each node in farm with 1000 IDNA (dont know exact number) risking your money when node fail validation
3- kill farm, start small farm with few nodes (that you are 100% sure they are decent in passing validation) and load them with 30 000 IDNA each possibly getting even higher returns

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August 15, 2022, 05:37:21 PM
 #2286

some pool owners may split their pools into family pools or medium pools or choose a solo mining path,

It will change nothing. The picture you posted shows network statistics (how many farms of type x we have and how much all of them earn). It does not say that by making farm smaller you will earn more. just like average penis size in Ecuador is 17,6 cm. It does not mean that your penis will get bigger after you move there from your country (f.e Taiwan with average 12.6 cm). After IIP-5 earnings will depend on amount of staked coins. Number of nodes in farm does not matter. Their decision will be:

1- accept 30-50% lower returns
2- load each node in farm with 1000 IDNA (dont know exact number) risking your money when node fail validation
3- kill farm, start small farm with few nodes (that you are 100% sure they are decent in passing validation) and load them with 30 000 IDNA each possibly getting even higher returns
yes indeed it depends on how many coins are at stake in the hope of attracting investors to follow this and increase the price of IDENA, unfortunately it has not really been seen until now when the staking reward event was held there was no change in the price of IDENA, so before and after IIP- 5 will not have any effect on the price of IDENA if IDENA is not widely introduced

Qi.Blockchain|..The only blockchain the..
..world will ever need...
|Eco-friendly
Decentralized
Secure, Fast
|
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August 15, 2022, 07:34:24 PM
 #2287

as Hotbit has been hacked/closed again, i.e. stopped use, trading, withdrawal, etc. what to use now for Idena trading?
is trading on Bitmart normal, without unexpected things?

also, my nod has been offline for a few days. I think it gets stuck during initialization because I don't even get around to counting down the remaining blocks until full synchronization.
what do I need to do? some cache to wipe?

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..BUY/ SELL CRYPTO..
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August 16, 2022, 06:43:57 AM
Last edit: August 16, 2022, 08:05:50 AM by Tytanowy Janusz
 #2288

as Hotbit has been hacked/closed again, i.e. stopped use, trading, withdrawal, etc. what to use now for Idena trading?
is trading on Bitmart normal, without unexpected things?

Hotbit was one of the worst place to trade idna. Only probit is worse. Qtrade is much better, they never did unexpected mainternance, never lost my deposit/withdrawal, dont fake trades. bitmart force KYC (I advise against doing KYC on small, bad exchanges). But the very best place is pancakeswap. The safest place and the biggest liquidity.

yes indeed it depends on how many coins are at stake in the hope of attracting investors to follow this and increase the price of IDENA, unfortunately it has not really been seen until now when the staking reward event was held there was no change in the price of IDENA, so before and after IIP- 5 will not have any effect on the price of IDENA if IDENA is not widely introduced

I agree here. This is one of the most important update that change whole project tokenomics. Its should be widely announced.

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MrDave
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August 16, 2022, 09:02:07 AM
 #2289

But what is its utility in the real world
Tytanowy Janusz
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August 16, 2022, 10:08:19 AM
Last edit: August 16, 2022, 10:48:27 AM by Tytanowy Janusz
 #2290

But what is its utility in the real world

Its a network with unique consensus - proof of person. Thanks to that it have different characteristics and possibilities than POW and POS which has its pros and cons.

Pros:
1- high decentralization
2- possibility of sharding (scalability without losing decentralization)
3- not money driven voting (oracles)
4- Sybil resistance, non KYC virtual identity (solution for bots on forums, twitter, metaverse)
5- after IIP-5 - far more decentralized staking than on any other staking platform.

Cons:

1- its at experimental stage (but so far network survived almost 3 years)
2- so far its AI resistant but future is unknown

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August 16, 2022, 10:42:47 AM
 #2291



Is there any alternative basis that is not as concentrated as capital? It seems that human personhood is the most evenly distributed and scarce resource on Earth.

I love to see innovation and bringing to life new ways of doing things. I'll have to give it a study to understand it.
What about the interconnectivity?
Sovereignty and scalability of this?
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August 16, 2022, 03:15:35 PM
 #2292

Dear Idena community,

We're happy to announce that the hard fork will be released on August 23rd

Be ready to update your Idena node to vote for the upcoming changes:

✅ Mining rewards based on Quadratic staking
✅ Oracle updates
✅ Bug fixes

Read more 👇
https://medium.com/idena/idena-hard-fork-announcement-mining-rewards-based-on-quadratic-staking-d5498a8be2f8

Qi.Blockchain|..The only blockchain the..
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August 18, 2022, 01:25:24 PM
 #2293

Hotbit was one of the worst place to trade idna. Only probit is worse. Qtrade is much better, they never did unexpected mainternance, never lost my deposit/withdrawal, dont fake trades. bitmart force KYC (I advise against doing KYC on small, bad exchanges). But the very best place is pancakeswap. The safest place and the biggest liquidity.

Pancakeswap seems to me like a more complicated solution for small amounts which I deal with when we talk about Idena. Probably because I'm not a big fan of Defi and somethingxyzswap platforms.
Qtrade seems to be the only option for me and my Idena.

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..BUY/ SELL CRYPTO..
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August 18, 2022, 02:57:33 PM
 #2294

Hotbit was one of the worst place to trade idna. Only probit is worse. Qtrade is much better, they never did unexpected mainternance, never lost my deposit/withdrawal, dont fake trades. bitmart force KYC (I advise against doing KYC on small, bad exchanges). But the very best place is pancakeswap. The safest place and the biggest liquidity.

Pancakeswap seems to me like a more complicated solution for small amounts which I deal with when we talk about Idena. Probably because I'm not a big fan of Defi and somethingxyzswap platforms.
Qtrade seems to be the only option for me and my Idena.
actually doing the idena bridge because people who want to sell in small amounts can do it because the withdrawal fees are very small whereas in qtrade we can't make small withdrawals and there are certain withdrawal limits that's why pancakeswap is used for the community to make small transactions

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Tytanowy Janusz
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August 19, 2022, 03:59:11 PM
 #2295

Pancakeswap seems to me like a more complicated solution for small amounts which I deal with when we talk about Idena. Probably because I'm not a big fan of Defi and somethingxyzswap platforms.
Qtrade seems to be the only option for me and my Idena.
Qtrade withdrawa fee equals 0.0005BTC = 10$ and IDNA/BTC trading fee - 1.5%. So if you are really dealing with small numbers qtrade fees will be a big thing. While pancakeswap transaction will cost you around 1 IDNA for bridge and ~1$ for transaction. And you can trade it directly to stable coins or any other not only to BTC. Also there is like 10x better liquidity than on qtrade and hotbit all together.

It may seam to more complicated but its worth the effort.

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August 19, 2022, 06:47:30 PM
 #2296

Pancakeswap seems to me like a more complicated solution for small amounts which I deal with when we talk about Idena. Probably because I'm not a big fan of Defi and somethingxyzswap platforms.
Qtrade seems to be the only option for me and my Idena.
Qtrade withdrawa fee equals 0.0005BTC = 10$ and IDNA/BTC trading fee - 1.5%. So if you are really dealing with small numbers qtrade fees will be a big thing. While pancakeswap transaction will cost you around 1 IDNA for bridge and ~1$ for transaction. And you can trade it directly to stable coins or any other not only to BTC. Also there is like 10x better liquidity than on qtrade and hotbit all together.

It may seam to more complicated but its worth the effort.
sometimes you can spend 3 to 4 IDNA depending on the price or amount you want to bridge, yes it also includes a little and is very cheap than on other exchanges which usually have to be above $ 5 to $ 10 to be able to trade

Qi.Blockchain|..The only blockchain the..
..world will ever need...
|Eco-friendly
Decentralized
Secure, Fast
|
▄▄████████▄▄
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August 19, 2022, 09:35:39 PM
 #2297

Pancakeswap seems to me like a more complicated solution for small amounts which I deal with when we talk about Idena. Probably because I'm not a big fan of Defi and somethingxyzswap platforms.
Qtrade seems to be the only option for me and my Idena.
Qtrade withdrawa fee equals 0.0005BTC = 10$ and IDNA/BTC trading fee - 1.5%. So if you are really dealing with small numbers qtrade fees will be a big thing. While pancakeswap transaction will cost you around 1 IDNA for bridge and ~1$ for transaction. And you can trade it directly to stable coins or any other not only to BTC. Also there is like 10x better liquidity than on qtrade and hotbit all together.

It may seam to more complicated but its worth the effort.
sometimes you can spend 3 to 4 IDNA depending on the price or amount you want to bridge, yes it also includes a little and is very cheap than on other exchanges which usually have to be above $ 5 to $ 10 to be able to trade

otherwise, when I withdraw with exchanges that have a high fee, I change coins to one with a low fee like TRX and move them to FTX (for example) where are zero fees on Bitcoin withdrawals. Just an option for small amounts.

what should I do with this node?
it is persistently offline, now I tried to export the private key, but it is frozen here. Any suggestion on how to recover this node? I had a lot of staked coins there, I guess I won't have to delete this from my computer.



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Tytanowy Janusz
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August 20, 2022, 06:33:00 AM
Merited by examplens (1)
 #2298

otherwise, when I withdraw with exchanges that have a high fee, I change coins to one with a low fee like TRX and move them to FTX (for example) where are zero fees on Bitcoin withdrawals. Just an option for small amounts.

Its not the case with qtrade. Cheap coins to withdrawal has very low liquidity there and high spreads. 3% for doge, 10% for nano and up to 20% for litecoin. It may work for 10$ but not for >100$.

what should I do with this node?
it is persistently offline, now I tried to export the private key, but it is frozen here. Any suggestion on how to recover this node? I had a lot of staked coins there, I guess I won't have to delete this from my computer.


Go to C:\Users\user\AppData\Roaming\Idena\node\datadir\keystore\nodekey

There is your unencrypted private key stored. Copy it and store it in a save way. Install node on new device and replace file with your private key. this key needs to be placed ...\AppData\Roaming\Idena\node\datadir\keystore\nodekey here. It will not work when you put it in app in "import private key" because thats the place where you can put your encrypted private key. You have unencrypted one.

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piebeyb
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August 20, 2022, 06:52:00 PM
 #2299

Idena validation results

👤 Identities validated (https://scan.idena.io/epoch/91/validation): 10,128

💸 Validation rewards paid (https://scan.idena.io/epoch/91/rewards): 544,368 iDNA

🚫 Reward for flip report: 9.55 iDNA

Minimum total score for Humans to get the second invitation and Verified to get an invitation: 100%

scan.idena.io (https://scan.idena.io/epoch/91/validation)
Idena Explorer allows you to explore and search the Idena blockchain for addresses, identities, transactions, flips, blocks, invitations, epochs, mining rewards and validation results taking place on Idena (iDNA)




I just realized or did I pass the notification, why is there now no reward validation

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samuraijin
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August 22, 2022, 01:24:46 PM
 #2300

Looking at the last few months there has been no price movement in all exchanges, my question is, will there be additional exchanges in the future, to boost IDNA prices so that they are not like this, even though the IDNA community is quite large and there is no doubt about it.

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