Topic: ANN: [OPAL] | POS | Secure Messaging |NO ICO | bitsquare.io | cryptopia | Yobit - page 37. (Read 383407 times)

Warning signs - lol. We are both in full-time employment, myself operating 5 separate UK Ltd businesses nothing related to crypto, crypto-currencies are a hobby but over the next few years I will aim to start crypto-based companies to get crypto more into the public domain.

One of the businesses I own (not UK Ltd) Is a web-hosting company and fully paid hardware and leases for the next 5 years so no need to pay for server space. I even offer crypto charities free hosting space how do I get compensated for that - I don't I do it for the good of the charities to help them.

If we ever for unforeseen reasons decide to shut-down the 'venture' all remaining coins will be donated back to the respective communities.

Does that mean you want to see more pretty graphics from Voidlord posted, or something more significant?

+1 %100 agree. The dev team needs to be a bit more active and promote the coin a bit.

They're hoping it will catch on.

If you think you could help, buy a good bunch, and then help promote. Opal needs promotion.  We appear to be good in the dev and tech department.

I wish there was some youtubes out explaining how to use any of this stuff. Right now, I still run a headless linux Opal wallet. I have no idea how to use any of the features they've built and are building.

I learn by screenshots and video.

Once we all learn to think with our brains, and stop waiting for the Gov't to come save us all the time...

Crypto will start skyrocketing after people learn logic, and basic lessons in life.  Right now most people are just learning what a decentralized and non-regulated economy is.. they have to stop getting themselves caught in scammers nets and reeling them in like fish.

(these comments have nothing to do with the faucet), but it's a decent debate about the state of crypto.

While I think that faucet is fine (i.e i think its an honest project), its a good thing to see people in here strongly standing up against possible scams and frauding.

did not expect so much backlash about a simple faucet.
But then again, this is what crypto has become, everyone has to be careful and suspicious.
The place where the craziest conspiracies you can think of, actually come true.... bitcointalk

Those were all the warning signs. I was unable to understand the business model behind this project.  That's what raised my suspicions.

Do all this work, maintain all this work, pay for server space, all for "nothing". No ads, no way or being compensated.

So it appeared to be the only way for this to be profitable, was a skimming scam.


So was ltcgear  

Good luck with your project.  In future, to be less suspicious though, do put up ads or some other cross promotion so it makes more sense for someone trying to understand your motives.

By the way, calling a project sounds like a "temporary venture".  What happens with all the remaining coins when you decide to shut down the project?

No buying interest and no sell pressure too. Strange for such a decently developed coin !!

That increases staking for sure, my thoughts were to boost Opal Drive Usage and coin value through locking down large stakers, and perhaps link a cloud service paid for by the Fees but also using the Fees to pay Drive Stakers within Opal Drive. A Cloud service would have to be paid for though so we have to find a creative way to automate that through PoS. Can you imagine a World Wide Load Balanced Amazon Instance that just gets paid automatically! It would grow as the user base grows. No disparity in bandwidth anywhere like other services may encounter from people using a laptop to drive mine lol.

I have to think this through a bit more though. People will have to pay to use it no matter what, Stakers lose the use of their coin (confirmation locking to use, and 1000 confirms to wait after detaching) and payers just pay but also based on the value of the coin. Which may be astronomical if it catches on. So the use fee could be like 10 coins. That is fine to start with and no cost really, until those coins become 50 cents a coin, and the coin would eventually average out to a reasonable cost and only fluctuate since a costly service is backing the coin now. Since you can't buy 10,000 coins for cheap at that point, but those who bought early and held their 10,000 coin got a deal and most of those people will keep the coin indefinitely, if they are smart and like the service. So the 10,000 coin Staking can be the only way to PoS maybe too. Other coin is just bought and sold with no PoS so that people will participate at large levels. These numbers can all be set differently, it is just to show an extreme example. The selling of the coin that is paid in Fees would be done professionally too not dumped out, more like a feasible sell wall.

So on the large scale of 10,000 coins to stake you would only allow 1000 or less people to get in for free. Since much is distributed at smaller amounts there will not be enough supply for more people to get the service for Free. So everyone else must pay and boost the price massively, just so the fees can be meted out due to the scarcity of coin held by 10,000 coin wallets PoSing for Opal Drive Freedom.

Help me iron this out, I already have a great name for the Cloud service, I sent it to Bass and may have mentioned it to Void too.

This has got to work somehow!

That is a better explanation, so this is like a Leaky Faucet Thanks for your efforts and I am sure you mean well!

@toldy - 100% agree; be sceptical & suspicious of everything in the crypto space. Absolutely. Definitely. I have lost BTC and other coins  following a number of "disappearing acts" by others in the past couple of years...

But to suggest that anything around any coin should only be developed by the coin's own trusted developers is rather limiting wouldn't you say? Effectively, this is what you are saying by:

Just a friendly bump for the OPAL and all other Supernet guys who might be running Nxt nodes  


There was a critical bug fix in NRS v.1.4.17 but someone is exploiting it still as there are still those who haven't updated their nodes.


So please could you check all your nodes and tell your friends and colleagues on slack who might not check nxtforum to do the same. It is important to do so to keep them safe.

Also see: https://bitcointalksearch.org/topic/nxt-to-those-running-nxt-nodes-update-to-nrs-v1510-1036345

Thanks  

Interesting things here,

I try something, following your ways: (replace "lottery block" by another idea you may have)

a descending PoS interest rate:
-1,000,000 opals and more = 0% PoS (all the 5% rewards goes to the possible "lottery block", even this wallet can win )
-  999,999 opals = 0.000005% PoS interest (the 4.99995% goes to the next possible "lottery block", even... )
-  999,998 opals = 0.000010% PoS interest and 4.999900 % -> "lottery block", even...)
 ....
 ....
-2 opals = 4.999985% PoS interest, (0.000015% -> to the next possible "lottery block" even...)
-  1 opal= 4.999990% PoS interest, (0.000010% -> to the next possible "lottery block", even this wallet can win)
-  0 opal= 0 PoS (but even this wallet can win)

Yeah exactly, it is a base of use that would grow exponentially. If the price gets too high since everyone bought the 1000 coins to PoS with then the fee would be half an Opal to send a file with Opal Drive. Or we can actually make it so that the .5 Opal only extend so many confirmations and then another .5 will be needed to Open Opal Drive, if you are not staking of course. Those fees would go into the Blockchain at the amount of confirmations.

So it won't be announced or given away and it would always be divided among PoS generation. So it effectively boosts the PoS interest rate when more people use it, and if those same people can not afford to buy 1000 Opal to stake with since the price is so high due to demand. This becomes evident only if people are buying up the Opal to stake with in order to use Opal Drive. Then the price boosts and all of a sudden not only is your PoS worth more and people hold the coin to PoS with and use Opal Drive but now you have made it so users will pay the fee easier than buy 1000 coins. This is a get in now and stay in proposition since once you sell cheap, you can no longer use Opal Drive without paying the .5 (or whatever the cost) for usage in turn making more PoS for the people who do buy and hold.

This advocates Holding Opal and creates demand for coin which raises the price for people who want to use it. Why not make it a 10,000 Coin Opal Drive stake requirement? Then you have serious Stakers. I guess there is only a question of how to protect the Opal Drive Stakers and grant the extra PoS to them. Oh wait that won't matter since 10,000 coins gets better PoS anyways and the proportion of coin burned makes the higher payout for the 10,000 since there is more PoS interest. Correct me if I am wrong there. There would be a locking mechanism in the wallet to lock you out of Opal Drive and/or charge you .5 to access Opal Drive in your specific wallet address.

That sets the bar higher and when People start using Opal Drive it just boosts everything to equal demand. The 10,000 Opal Stakers could also grant drive space through this fee. That would make it so there is a Public Folder with Encrypted Files in the Cloud that you pay to use per confirmation cycle. Then you don't need your computer on or staking to use Opal Drive. Then you can get your files at any time later. Oh and lets say someone doesn't pay for their files and stops while the data is on the cloud drive. Well their confirmations stopped and then the blocks keep ticking up confirms from the day they stopped. So to unlock their files they need to pay for the past confirms. It is like a safe you can open later while the Stakers make the money that is in the Safe due to the coin burned when the safe is opened, and that money is always inside when opened. If those files never get accessed again there would have to be a limit on confirms to free up the space.

Hmm nice needed basic wallet for 8.1, 8 and below all worked fine though.

I really like that idea.  Being able to burn coins somehow to give a better reward to whoever produces the next block.

If you coordinated the event, you could buy a crap load of coins, then for the next 500 blocks increase the reward by 50 coins per block and let everyone know about it.

Or, you could have a lottery, saying that you promise to burn 2500 OPAL sometime between now and next Tuesday, which gets people installing wallets and staking coins trying to earn the stake reward if they get that block

Or, [insert your idea]

I personally would rather people just go to the markets, no need for Faucets that are donated or funded. I just don't like gimmicky feel to it all. It is like your coin isn't worth buying so they give it away kind of sounding to me.

What we need is to require people to buy coin to use the functions. Make it so you either have PoS for a certain amount of coin 100 to 1000 coins to protect the blockchain or you have so much coin that you can send a fee in that would burn it into boosting PoS. Maybe like a PoS burn in coin for those who don't want to leave their computers on but use the service of Opal Drive. This would make more PoS available than normal since the Fees accrue due to usage. Then it blossoms with usage and people get a very large PoS reward if staking/using opal drive.

I hope this gets incorporated in the final Opal Drive. It kind of mimics drive mining. Since you either PaY or PoS. This would benefit everyone using Opal by burning the fees into a new PoS coin to be mined later perpetually.

thanx for show " engagement " for crypto

Ok, well everyone has their own opinion. I am only creating this site so I can get people engaged in cryptocurrencies. Like I said I don't have to answer to anyone, donations are welcome but not required.


I can't prove any of that, none of it is actually automated at the moment as we are building from the ground up.

OPAL have shown their support for this Faucet but more faucet is always good for a crypto.



So evil? I don't see what's even evil in it. Not friends and family BTW you didn't get my idea of what the site is for. Is not about giving them a $ amount to them its having them work with cryptocurrencies.