Phildo
What is there to disagree about? They said the first 2000 blocks would be Proof of Work with no reward. Block 1296 is one of many that has a 23 coin Proof of Stake reward. Is that an honest mistake? Was the first statement a lie? It's not an opinion it's a fact. Now, an opinion would be whether or not that's a big deal, and it may not be a b6ig deal, but it's still an issue. Your only hope for success is that they learned from the mistakes of paycoin, yet here we have the actual results not matching the promises that were given out before things started, and extra coins going into the hands of unknown people before everyone else gets a chance to get/stake any. Does that not sound familiar to you? are you really not worried about any of that?
Don't know the answer to this... don't think it's a mistake though. When you say 23 coin POS where are you getting the info from. I didn't think a block explorer was available yet.
If you had to guess, how many coins in total do you think were POS generated before block 2000. If I had to hazard a guess the POS coins were for testing, possibly to fund the electron element of a staker payout or to go into a bounty pot..... but like I said this is just a guess
If it's a real concern to you then you should visit slack and ask the question,
I'm not worried by this, I've been dealing with them for about a year with no problems. If you think there is a 1%+ chance of a scam then don't investBTW. Those images suchmoon is posting are taken from the Ionomy platform https://ionomy.com/. You'll need to sign up then you'll get access to those screensI am not signing up for slack. I have barely even looked into this thing and seen enough red flags to stay away. They started this thread here, they're going to have to deal with the repercussions. The people inside the slack are either in on it or too brainwashed to see the light, just like the people in hasthalk and paycointalk and lendcointalk and all the other blablatalks where various stages of this saga have taken place. All I can do is point out the glaringly obvious problems that I can see from here, without even really trying, in hopes to keep other people out of the mess.
Here is block 1236
https://ionchain.com/block/73ce123f7b1fa011a1b4fb320fc7d10bad89dd0777e6a3efe5fe5c1b53b31311Here is a transaction in that block that consists of nothing but a POS reward
https://ionchain.com/tx/8ba71247b921334e292050d72c1b508d5618c2c7866687361123fd00538bebfaNow, the amount of coins generated via the POS rewards is trivial compared to the premine, but it still stands out as an issue to me. They said blocks 1-2000 would be POW. This is obviously not a true statement. There are two reasons that statement could be true. either they lied about 1-2000 being POW or there was a mistake in the code. You said you don't think it was a mistake, then it was a lie. Why lie about such a meaningless amount of coins? How many coins do they need for staking rewards? They had 2.5 million set aside at the start, plus all the coins allocated to the ICO that no one bought.
I am not signing up for slack because this is not really a major concern or me. I saw enough red flags from the original post in this thread to stop me from being invested. that isn't going to stop me from following along and asking the questions that I think would be important as we go along. If you have no problem with a coin that literally started with a lie/mistake (I would consider all the blocks pre-distribution of ICO coins the start) good for you, but I'm still going to point out the flaws that I see. Feel free to ignore them, but while you are sailing away on the glorious ship IONia keep your eye out for icebergs, because I feel like there will be a lot of them out there.
Hey Phildo
I too have been doing some digging as what you said didn't sit right, I can confirm
0 - 2000 blocks had POS & POW with no reward got this info asking around slack, this is what the team said
POW phase was to make sure they had enough time to distribute mature coins, to make sure the network could stand on it on its own via POS That was the objective nothing else, again got this asking around slack
You said -- They said blocks 1-2000 would be POW. This is obviously not a true statement..........
I searched but can't find where they said that so unless you can prove it different this is another piece of misinformation designed to discredit the teamHere is block 1236
https://ionchain.com/block/73ce123f7b1fa011a1b4fb320fc7d10bad89dd0777e6a3efe5fe5c1b53b31311Here is a transaction in that block that consists of nothing but a POS reward
https://ionchain.com/tx/8ba71247b921334e292050d72c1b508d5618c2c7866687361123fd00538bebfaThis sync's up with what they said NO POW reward and a small POS reward 23 ion or $5.75 which is for all to see
I'm not going to go and find anything, if I was wrong about that one, I was wrong about that one, there are still a million other red flags. I, and others, remember reading that POS would start at block 2000 after the coins were distributed. Even if that is wrong, the coins were not distributed at block 2000, so there were tons o blocks with POS rewards going only to the devs/whoever received the premine.
If that is all made up, I apologize, but I still blame them for not putting all of the relevant information in one place that is easy to find.
See how simple it was to answer questions? Now we can move on to the next issues.
What are the guarantees that the masternodes that pay out the charged staker payouts will generate enough coins to do that?
If these nodes generate too few coins for all the payouts what will be done?
If they generate too many what will be done?
Is there any reason to believe they will be able to accept alternate payment on android devices besides "amazon does?"
@korvas128 I typed '2000' into search in the upper right.
Found two complete references to it, with pics for you.and...How do you know for a fact? Its not in the whitepaper its not on the site so its not common public knowledge. Can you please state how you know these facts?
its good they are mining first 2000 blocks good free credits for them or are they going to burn them? Means up to block height 2000 all addresses are theirs thats the great thing about blockchain from this they can't hide with all moves.. we'll know every little amount. But it won't be through them being transparent it'll be the blockchain showing the dirty laundry.
This was posted by huey (Matlack) on slack. Technically the first 2000 blocks should have 0 block reward hardcoded but I wouldn't get my hopes too high for that.
@Phildo - "Is there any reason to believe they will be able to accept alternate payment on android devices besides "amazon does?"
Not in my opinion based on how partnerships go with the bigger players like Apple, Microsoft, Amazon, and Google. They'll ask (more like demand) for full control of the coin before they allow them to funnel it through the app store(s). Mind you if any of those companies
actually were interested in ION. All of them already use the companies own point/coin system from the user accounts to facilitate it. Second, they'll also look at the background information on Adam and crew. Leading to a big
NO.
Then ION might try the game publishers to use the coin. Steam had to reluctantly accept Bitcoin, from my opinion due to the ever growing market of their items being bought outside their exchanges with Bitcoin. Blizzard has and can already build their own virtual gold. After those two big game publishers come to mind... the mid-to-smaller ones won't be taking chances with the ION team and would still most likely develop or use current coins that people trust fully. They have a
slim or a more realistic chance to have the coin used in an indie or small group platform, if they get to that stage.
We also might be getting to a point though in blockchain development where even the coins/tokens generated, are already integrated into the game, and will move with the game!
What am I rambling about? Spells of Genesis ->
http://www.spellsofgenesis.com/ (trad-able card game built on a blockchain that's slowly been built over the years. Also allows investors to keep specific track of their investment per set expansion.)
Edit: Adding to Minecrafts implementation of Bitcoin into itself.
http://bitquest.co/2016/05/19/bitquest-2.htmlOkay, so what's left that I can feasibly give constructive development on...
Well the only chance I see for ION is building a poker/gambling app for the coin to generate use and userbase.