Topic: [ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today! - page 437. (Read 473154 times)

Quote from: Phildo on May 15, 2016, 08:24:25 AM

50% of the block reward goes to nodes, the other 50% goes to staking wallets.

Ionomy do not get any of this only from their own nodes and staking wallets. This is how I understand it.

The number of nodes does matter to those ICO investors that bought enough coins to run a node. They should only be in competition with customer coin shared nodes (stakers) and other node investors. They should not be in competition with bounty coins, dev coins etc

Except you don't have any way to verify this, do you?

Let's say there are 50 masternodes. Ionomy says "these 20 are ours" (if they even bother to say that) so the remaining 30 must be customers' nodes? How would you know that's true?

Also they fully control at least ~10.3m of the premine (10.9 minus the 600k that are supposedly unlocked) so the vast majority of the regular staking coins as well, unless they offline them completely.

Anyway, fixed block reward 12 million per year, I'm willing to bet 1000 XPY (oops) that most of it is going to the "team" one way or another.

From what i understand after testing on the masternodes on the testnet. Its better to not have a masternode. As you will stake more frequently based on the coin weight. So if you have more then masternode requirement of 20k you dont need a masternode. You should run basic staking. The MasterNode concept is to support speedy transactions and the users running the nodes might get a hire stake for running it it will not be as frequent as running a standard staking wallet.

The only reason to have a masternode is to help speedup the network and you get a true 50% cut of the block that is generate on that node. Its all about if your node gets the block or not.

But again this is my interpretation of it. I might be 100% wrong. We will know as soon as the network launches and we figure out what is going on.

If this is true, and stakers could be paid for from wallet stake rewards, then, why would ionomy run any masternodes at all?

Masternodes are design to keep the network running faster. You will get more of the block. So if you only got 20k masternode is the way to go. The masternode network is design to speed the transactions. Not really to benefit the person running the node. (i think) Again i might be all wrong I am not a coin dev.

Franz_Huber

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We still did not get an answer that makes any sense to this question: How can "atoms" and "electrons" - tokens that are not on a blockchain - increase the performance of an "electrified" staker, and how is this different to the fake "hashstakers" that were being sold by GAW?

simdude

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Quote from: Mr-Coins on May 15, 2016, 08:09:24 AM

Quote from: Mr-Coins on May 15, 2016, 08:29:25 AM

It's not just in my head. Mind you, isn't everything in our heads?

Some people are able to say (seemingly) "negative" things which are actually useful to know, constructive.

Some people have nothing to say except "scam", "garza" or "xpy".

There's different value in those statements and some have no value at all.

And you will ignore them all again, and miss the fact that you are investing in a coin lead by a guy who "innocently" robbed by garza, yet still managed to work with the guy who "ran" the data center that didn't have miners or pay the electric bill, and then be shocked when we have the same result.

I'd like to correct you on a couple of points...

1) I didn't hear them the first time around in order to ignore them - I simply wasn't listening at all (my bad).
2) I am listening now, but I am being selective.

All of what you have said, I hear. As soon as I see the word garza/scam I kinda switch off.

Did you notice how some can get their point/questions across without using these stop words? THESE are those worth listening to, their questions, their points. Some of them are very good and have caused me to research those areas myself.

Tunining out will again be your mistake. Attack works/worked with mordiCal after gaw. Mordecai "ran" gaw's data center.

Only an investor of your intelligence would not see this as an issue.

The same words keep coming up because it's the same shit over and over again. Obvious comparisons to gaw will be pointed out to show what happened in a very similar situation when trying to predict what will happen now.

You are one of those that are not worth listening to. Sorry

I'm not really talking to you, just quoting you so others can see how stupid you are and hopefully see the light.

GAW is central to this coin because the history to people running this coin have with GAW shows how stupid of an idea it is. I'll keep pointing it out so hopefully others don't get sucked in like they did when you said paycoin would get SEC approval.

I would like to point out Bitcoin was central to GAW. Because if your going to run a scam might as well scam all the stupid people who are in bitcoin.

Amazing i can make that link and say you are stupid cause you like bitcoin. Overall it does not matter. You are not hurting Ionomy with your slander. You think bitcointalk is the whos who of the bitcoin world like this is the place everyone goes to figure out what is what.

Most people will show up here when they start feeling a bit scared of a project. Not at the start. Now if the project goes tits up. Then you will see a influx of people on here.

But lets take this like the current presidential candidate runner Mr Donald Trump. (So many people hate him... So much Shit talk from others online and even other Runners. Even his own party. And look he won the GOP... He is the Republic Presidential Candidate.. He did not run one single ad. He spent hardly anything on his campaign cause he knew EVEN BAD PRESS is Good Press. Cause it get him name out without costing him a dime. So Again I thank every single one of you guys here for talking crap and keeping this thread at the top of list....

suchmoon

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There's so few nodes to start with, it'll be worth some of us trying to work the allocation between ionomy and investors. I'd be interested to know. We'll see how they are distributed from the blockchain and wallet itself, so there will be homework to do.

I couldn't get rid of my XPY quickly enough. Didn't you swap your XPY? Otherwise we could have bet IONs

I don't have XPY, what makes you think I would? I know where to get them on the cheap though...

The homework would help only if ionomy would put XPY conversion, Atom conversion, sold for cash, etc coins into separate wallets and disclose the addresses upfront. Otherwise you have no way of knowing if the masternode was funded from one bucket or another.

Seeing that they were not interested in disclosing where the ICO BTC funds or even the converted/burned XPYs (other than "check the blockchain and find them") are located - I wouldn't get my hopes up on this one either.

Mr-Coins

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Quote from: simdude on May 15, 2016, 08:32:11 AM

50% of the block reward goes to nodes, the other 50% goes to staking wallets.

Ionomy do not get any of this only from their own nodes and staking wallets. This is how I understand it.

The number of nodes does matter to those ICO investors that bought enough coins to run a node. They should only be in competition with customer coin shared nodes (stakers) and other node investors. They should not be in competition with bounty coins, dev coins etc

Except you don't have any way to verify this, do you?

Let's say there are 50 masternodes. Ionomy says "these 20 are ours" (if they even bother to say that) so the remaining 30 must be customers' nodes? How would you know that's true?

Also they fully control at least ~10.3m of the premine (10.9 minus the 600k that are supposedly unlocked) so the vast majority of the regular staking coins as well, unless they offline them completely.

Anyway, fixed block reward 12 million per year, I'm willing to bet 1000 XPY (oops) that most of it is going to the "team" one way or another.

From what i understand after testing on the masternodes on the testnet. Its better to not have a masternode. As you will stake more frequently based on the coin weight. So if you have more then masternode requirement of 20k you dont need a masternode. You should run basic staking. The MasterNode concept is to support speedy transactions and the users running the nodes might get a hire stake for running it it will not be as frequent as running a standard staking wallet.

The only reason to have a masternode is to help speedup the network and you get a true 50% cut of the block that is generate on that node. Its all about if your node gets the block or not.

But again this is my interpretation of it. I might be 100% wrong. We will know as soon as the network launches and we figure out what is going on.

If this is true, and stakers could be paid for from wallet stake rewards, then, why would ionomy run any masternodes at all?

simdude

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Activity: 97

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50% of the block reward goes to nodes, the other 50% goes to staking wallets.

Ionomy do not get any of this only from their own nodes and staking wallets. This is how I understand it.

The number of nodes does matter to those ICO investors that bought enough coins to run a node. They should only be in competition with customer coin shared nodes (stakers) and other node investors. They should not be in competition with bounty coins, dev coins etc

Except you don't have any way to verify this, do you?

Let's say there are 50 masternodes. Ionomy says "these 20 are ours" (if they even bother to say that) so the remaining 30 must be customers' nodes? How would you know that's true?

Also they fully control at least ~10.3m of the premine (10.9 minus the 600k that are supposedly unlocked) so the vast majority of the regular staking coins as well, unless they offline them completely.

Anyway, fixed block reward 12 million per year, I'm willing to bet 1000 XPY (oops) that most of it is going to the "team" one way or another.

From what i understand after testing on the masternodes on the testnet. Its better to not have a masternode. As you will stake more frequently based on the coin weight. So if you have more then masternode requirement of 20k you dont need a masternode. You should run basic staking. The MasterNode concept is to support speedy transactions and the users running the nodes might get a hire stake for running it it will not be as frequent as running a standard staking wallet.

The only reason to have a masternode is to help speedup the network and you get a true 50% cut of the block that is generate on that node. Its all about if your node gets the block or not.

But again this is my interpretation of it. I might be 100% wrong. We will know as soon as the network launches and we figure out what is going on.

Mr-Coins

newbie

Activity: 154

Merit: 0

Quote from: Mr-Coins on May 15, 2016, 08:09:24 AM

50% of the block reward goes to nodes, the other 50% goes to staking wallets.

Ionomy do not get any of this only from their own nodes and staking wallets. This is how I understand it.

The number of nodes does matter to those ICO investors that bought enough coins to run a node. They should only be in competition with customer coin shared nodes (stakers) and other node investors. They should not be in competition with bounty coins, dev coins etc

Except you don't have any way to verify this, do you?

Let's say there are 50 masternodes. Ionomy says "these 20 are ours" (if they even bother to say that) so the remaining 30 must be customers' nodes? How would you know that's true?

Also they fully control at least ~10.3m of the premine (10.9 minus the 600k that are supposedly unlocked) so the vast majority of the regular staking coins as well, unless they offline them completely.

Anyway, fixed block reward 12 million per year, I'm willing to bet 1000 XPY (oops) that most of it is going to the "team" one way or another.

There's so few nodes to start with, it'll be worth some of us trying to work the allocation between ionomy and investors. I'd be interested to know. We'll see how they are distributed from the blockchain and wallet itself, so there will be homework to do.

I couldn't get rid of my XPY quickly enough. Didn't you swap your XPY? Otherwise we could have bet IONs

Phildo

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It's not just in my head. Mind you, isn't everything in our heads?

Some people are able to say (seemingly) "negative" things which are actually useful to know, constructive.

Some people have nothing to say except "scam", "garza" or "xpy".

There's different value in those statements and some have no value at all.

And you will ignore them all again, and miss the fact that you are investing in a coin lead by a guy who "innocently" robbed by garza, yet still managed to work with the guy who "ran" the data center that didn't have miners or pay the electric bill, and then be shocked when we have the same result.

I'd like to correct you on a couple of points...

1) I didn't hear them the first time around in order to ignore them - I simply wasn't listening at all (my bad).
2) I am listening now, but I am being selective.

All of what you have said, I hear. As soon as I see the word garza/scam I kinda switch off.

Did you notice how some can get their point/questions across without using these stop words? THESE are those worth listening to, their questions, their points. Some of them are very good and have caused me to research those areas myself.

Tunining out will again be your mistake. Attack works/worked with mordiCal after gaw. Mordecai "ran" gaw's data center.

Only an investor of your intelligence would not see this as an issue.

The same words keep coming up because it's the same shit over and over again. Obvious comparisons to gaw will be pointed out to show what happened in a very similar situation when trying to predict what will happen now.

You are one of those that are not worth listening to. Sorry

I'm not really talking to you, just quoting you so others can see how stupid you are and hopefully see the light.

GAW is central to this coin because the history to people running this coin have with GAW shows how stupid of an idea it is. I'll keep pointing it out so hopefully others don't get sucked in like they did when you said paycoin would get SEC approval.

suchmoon

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Activity: 3654

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https://bpip.org

Quote from: o0o0 on May 15, 2016, 03:13:47 AM

50% of the block reward goes to nodes, the other 50% goes to staking wallets.

Ionomy do not get any of this only from their own nodes and staking wallets. This is how I understand it.

The number of nodes does matter to those ICO investors that bought enough coins to run a node. They should only be in competition with customer coin shared nodes (stakers) and other node investors. They should not be in competition with bounty coins, dev coins etc

Except you don't have any way to verify this, do you?

Let's say there are 50 masternodes. Ionomy says "these 20 are ours" (if they even bother to say that) so the remaining 30 must be customers' nodes? How would you know that's true?

Also they fully control at least ~10.3m of the premine (10.9 minus the 600k that are supposedly unlocked) so the vast majority of the regular staking coins as well, unless they offline them completely.

Anyway, fixed block reward 12 million per year, I'm willing to bet 1000 XPY (oops) that most of it is going to the "team" one way or another.

Mr-Coins

newbie

Activity: 154

Merit: 0

Quote from: ?? on ??

Quote from: suchmoon on May 14, 2016, 08:38:30 PM

Quote from: Rick_James on May 14, 2016, 08:25:18 PM

Quote from: CryptoBuds on May 14, 2016, 07:12:19 PM

Thanks for the reply and the answer. Good to see they will post all the Masternode addresses as well as the bounty wallet. I do hope they keep the bounty coins in cold storage to minimize the risk of a hack.

No problem my friend, Any relevant info that I can get, Ill be sure to share. The way I understand, the bounty coins will all be in one staker staking at the base rate. Im assuming the coins it stakes will continue to build the bounty fund up?

So that's a "no" to cold storage? Unless they invented offline staking.

2,600,000 ion from ICO means 130 masternodes off the bat. This means a large percentage so masternode purchasers can expect on startup a minimal return.

I don't believe they will run a transparent system that checks and reduces masternodes etc.

Its a silly system. Honestly users should withdraw all their ion group and make their own masternodes. Then the ionomy team makes no money off them as being as honest as they are they'd reduce to 0 masternodes right?

Honestly its not going to work this project. The team has no risk and all potential is risked on their community constantly pumping money in. Money in has to exceed sales and people by nature want profits as we all want to grow. It hasn't worked the last 4 years in altcoins so it won't work now.

I just wish these guys/gals would see it. There are stable gaming cryptos in existence that a community of all of them could promote.. they are proven and can grow as they've hit their low bottom out stabilised points.

They'll learn in 12 months tops.

As much as i think mr coins is deluded at least he's saying listen to both sides and challenging the ion folk. I still think he doesn't have his eyes open though. Madness is mr coins 12 months ago in my opinion just starting the xpy investment.

O wells.

you think i am more stupid than mr coins by one year ? did i invest in gaw crap ?

So, that's "stupid" and "deluded" i've been called today already?

I like it here! Cheesy

Madness

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Quote from: suchmoon on May 15, 2016, 07:56:49 AM

It's not just in my head. Mind you, isn't everything in our heads?

Some people are able to say (seemingly) "negative" things which are actually useful to know, constructive.

Some people have nothing to say except "scam", "garza" or "xpy".

There's different value in those statements and some have no value at all.

And you will ignore them all again, and miss the fact that you are investing in a coin lead by a guy who "innocently" robbed by garza, yet still managed to work with the guy who "ran" the data center that didn't have miners or pay the electric bill, and then be shocked when we have the same result.

I'd like to correct you on a couple of points...

1) I didn't hear them the first time around in order to ignore them - I simply wasn't listening at all (my bad).
2) I am listening now, but I am being selective.

All of what you have said, I hear. As soon as I see the word garza/scam I kinda switch off.

Did you notice how some can get their point/questions across without using these stop words? THESE are those worth listening to, their questions, their points. Some of them are very good and have caused me to research those areas myself.

Tunining out will again be your mistake. Attack works/worked with mordiCal after gaw. Mordecai "ran" gaw's data center.

Only an investor of your intelligence would not see this as an issue.

The same words keep coming up because it's the same shit over and over again. Obvious comparisons to gaw will be pointed out to show what happened in a very similar situation when trying to predict what will happen now.

i also learn nothing from your posts.

Mr-Coins

newbie

Activity: 154

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Quote from: Mr-Coins on May 15, 2016, 07:35:37 AM

Quote from: CryptoBuds on May 15, 2016, 07:21:41 AM

The fact that 2,600,000 bounty coins will be put in Masternodes is quite worrying. They will have control of the majority of the network and as o0o0 pointed out will reduce the rewards of other Masternodes and they are playing with customer funds, not their own.

I also agree wth Mr Coins. Masternodes should only be made for the amount of stakers they have to cover as well as any investor that purchases enough to run one. And I will not put garza, scam (unless proven so) or XPY (unless direct correlation) in with my questioning. There will be no excuse for the team to ignore the questions then.

Without some more clear, conscise answers there looks to be bad potential for misuse.

The bounty coins will not be in master nodes - I came across this in Slack. (sorry I don't have a screen shot). ionomy should ONLY run enough master nodes to pay the fixed stake interest on the stakers.

The bounty coins should NOT be in master nodes. This is what I expect, nothing less. If the bounty coins are in nodes then the ICO investors are getting screwed and inflated out of their investment.

But, i'm pretty sure bounty coins will just sit in a wallet, maybe staking? But not in nodes.

So what's the regular stake rate and the masternode stake rate? The math has to add up to 12 million new coins in the first year and there is no POW so someone's gonna stake them. Considering that only ~25% of premine is in customers' hands (sort of, most in the online wallet) it means 9 million on the newly minted coins in the first year will end up in the hands of... whom exactly? The team? Unless customers' nodes will stake at some insane rate (stupid idea by itself) or something else is going on.

Edit: sorry, a bit rusty today. So here is the kicker. It doesn't matter if there are 50 or 130 masternodes, right? They get 50% of block reward regardless.

https://github.com/ionomy/ion/wiki/ION-Technical-Whitepaper#masternodes

Quote

Masternodes receive fixed rewards (50% of the block reward) which are probabilistically distributed among peer validated masternodes. Masternodes recursively scan peer node performance, and only high performance nodes with sustained, stable, high-speed internet connections are eligible for rewards. In addition to receiving 50% of the block reward, a masternode receives all fees for public transactions completed in a block and for all private transaction pools initiated in the block.

Smoke'n'mirrors.

https://i.snag.gy/bx3vtY.jpg

50% of the block reward goes to nodes, the other 50% goes to staking wallets.

Ionomy do not get any of this only from their own nodes and staking wallets. This is how I understand it.

The number of nodes does matter to those ICO investors that bought enough coins to run a node. They should only be in competition with customer coin shared nodes (stakers) and other node investors. They should not be in competition with bounty coins, dev coins etc

Mr-Coins

newbie

Activity: 154

Merit: 0

Quote from: Mr-Coins on May 15, 2016, 07:35:37 AM

It's not just in my head. Mind you, isn't everything in our heads?

Some people are able to say (seemingly) "negative" things which are actually useful to know, constructive.

Some people have nothing to say except "scam", "garza" or "xpy".

There's different value in those statements and some have no value at all.

And you will ignore them all again, and miss the fact that you are investing in a coin lead by a guy who "innocently" robbed by garza, yet still managed to work with the guy who "ran" the data center that didn't have miners or pay the electric bill, and then be shocked when we have the same result.

I'd like to correct you on a couple of points...

1) I didn't hear them the first time around in order to ignore them - I simply wasn't listening at all (my bad).
2) I am listening now, but I am being selective.

All of what you have said, I hear. As soon as I see the word garza/scam I kinda switch off.

Did you notice how some can get their point/questions across without using these stop words? THESE are those worth listening to, their questions, their points. Some of them are very good and have caused me to research those areas myself.

Tunining out will again be your mistake. Attack works/worked with mordiCal after gaw. Mordecai "ran" gaw's data center.

Only an investor of your intelligence would not see this as an issue.

The same words keep coming up because it's the same shit over and over again. Obvious comparisons to gaw will be pointed out to show what happened in a very similar situation when trying to predict what will happen now.

You are one of those that are not worth listening to. Sorry

suchmoon

legendary

Activity: 3654

Merit: 8909

https://bpip.org

Quote from: CryptoBuds on May 15, 2016, 07:21:41 AM

The fact that 2,600,000 bounty coins will be put in Masternodes is quite worrying. They will have control of the majority of the network and as o0o0 pointed out will reduce the rewards of other Masternodes and they are playing with customer funds, not their own.

I also agree wth Mr Coins. Masternodes should only be made for the amount of stakers they have to cover as well as any investor that purchases enough to run one. And I will not put garza, scam (unless proven so) or XPY (unless direct correlation) in with my questioning. There will be no excuse for the team to ignore the questions then.

Without some more clear, conscise answers there looks to be bad potential for misuse.

The bounty coins will not be in master nodes - I came across this in Slack. (sorry I don't have a screen shot). ionomy should ONLY run enough master nodes to pay the fixed stake interest on the stakers.

The bounty coins should NOT be in master nodes. This is what I expect, nothing less. If the bounty coins are in nodes then the ICO investors are getting screwed and inflated out of their investment.

But, i'm pretty sure bounty coins will just sit in a wallet, maybe staking? But not in nodes.

So what's the regular stake rate and the masternode stake rate? The math has to add up to 12 million new coins in the first year and there is no POW so someone's gonna stake them. Considering that only ~25% of premine is in customers' hands (sort of, most in the online wallet) it means 9 million on the newly minted coins in the first year will end up in the hands of... whom exactly? The team? Unless customers' nodes will stake at some insane rate (stupid idea by itself) or something else is going on.

Edit: sorry, a bit rusty today. So here is the kicker. It doesn't matter if there are 50 or 130 masternodes, right? They get 50% of block reward regardless.

https://github.com/ionomy/ion/wiki/ION-Technical-Whitepaper#masternodes

Quote

Masternodes receive fixed rewards (50% of the block reward) which are probabilistically distributed among peer validated masternodes. Masternodes recursively scan peer node performance, and only high performance nodes with sustained, stable, high-speed internet connections are eligible for rewards. In addition to receiving 50% of the block reward, a masternode receives all fees for public transactions completed in a block and for all private transaction pools initiated in the block.

Smoke'n'mirrors.

Loading...

Edited 2020-11-28 to fix a broken image

Phildo

legendary

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