Topic: [ANN]🔵🔵 OYSTER 🔵🔵 Anonymous Storage Generates Revenue for Websites - page 70. (Read 73403 times)

95% for me

I just got in at $0,007, too easy...
I URGELY have to equilibrate my portfolio...But i won't sell anything before $10

Patience = Win

Looks like I am FULL IN Oyster Pearl - 80% share of my portfolio is PRL/SHL.

It is worth to read latest progress report about the launch of mainnet it seems they have achieved good milestone and it will happened according to the plan. From my opinion this will be wonderful moment for this project to get explode. Good luck and I wish more success for this project.

The peg only says: "1 PRL will grant you X GB/year of storage" - Nothing more. X is independent of the market value of PRL.

Means with the starting peg of 64GB/year - it is totally insignificant what current price PRL is on the market or at which price you bought it - you will always get this amount of storage.

This implies that the price will drive to an equilibrium - since you have a measurable countervalue in storage. Nobody wants to buy overpriced storage, nobody want to sell undervalued. This whole supply&demand is nothing else with every other currency, but you have a fixed countervalue in storage and that is what changes it all.

E.g. look at Tether (It's not that easy with PRL, but it should give you an understanding of the peg):

You would buy my one tether for 0.5$, because you know it has a countervalue of 1$. You wouldn't buy my tether for 1.5$, because of the countervalue of 1$.

So both parties (buyers/sellers) meet in the middle for the actual value, the equilibrium.

As I said, it's not that easy since it isn't that easy to determine the value of 64GB/year of storage by a single person in comparison to 1 USDT = 1$, but with this I try to give you an understanding on how an equilibrium price-wise will eventually be achieved.
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1) If more people are buying PRLs, more people will use PRLs for uploads.

2) More PRLs are getting buried for uploads in datamaps means web nodes (website visitors) can find more PRLs in datamaps. (in total, not individual)

3) More website visitors finding PRLs will lead to more website creators receiving more PRLs

4) Website owner now can hold the PRLs, use them for own uploads OR sell them for revenue on the market, since they need to pay bills themselves afterall

5) Cycle continues.

This is how stability is created - through a closed ecosystem where the PRLs are constantly changing from "Storage user" -> "Buried" -> "Website owner" -> "Storage user" -> (...)

Basically it will be a continous exchange between people selling PRLs off for revenue and people buying PRLs for storage.

=> So we are still driving towards an equilibrium.

Source: https://www.reddit.com/r/Oyster/comments/8fouax/can_someone_please_explain_how_the_storage_peg/

Oyster MainNet launch is planned on April 2018, if nothing critical change with current trend, we could see a realy price mooning. PRL is one of TOP 20 token in my portfolio, its share is about 6%.

As promised in our previous post, we are releasing our first technical update on the Oyster Mainnet progress. Below, we will outline some of the aspects the development team is currently working on to prepare the Mainnet for its release on May 29th.

We are using the Truffle and Ganache suites to get Ethereum and ERC20 transfer events working on the Golang broker nodes. Additionally, we are in the process of performing QA tests on the treasure hunting logic used within the protocol. Once transfer events are working on the broker nodes, and the treasure hunting logic has been thoroughly tested, the development team will begin testing the PRL burying mechanisms.

Several other infrastructure improvements are currently in the works, including a change in the order of logic involved in processing chunks of data client-side to support treasure-containing data chunks on the Tangle. Before, the order of logic involved was to encrypt the entire file, then chunk that file and send the chunks to the broker nodes. Now, the file is chunked first, then each chunk is encrypted individually and sent to the broker nodes.

The development team also added several modes to the broker nodes so that broker nodes can quickly switch between uploads with treasure, uploads without treasure, and uploads with “dummy” treasure. This functionality was added to increase the efficiency of QA testing.

The development team has also made significant progress on the file upload/download speeds of the Oyster protocol. The team has solved some bulk insert issues, leading to the system being more scalable overall. Additionally, the team is working on the encryption schemes of IOTA transactions to maximize the amount of information that can be stored per transaction. Furthermore, the team has written custom methods for the IOTA IXI that allow for much faster and lighter downloads on our private Tangle, as well as made significant changes to the Oyster Storage download wrapper that have drastically increased download speed (see graphic below). Finally, the team has been working on preparing streamlined uploads to the broker nodes, which will have a significant increase on upload speeds once completed.

In addition to the great progress that development team has made this week, we are happy to welcome Astor Rivera as a full-time developer to the Oyster development team. Astor is well-versed in the field of software engineering and his experience with multiple blockchain platforms and technologies will prove invaluable to the Oyster development team. Since joining, Astor has been instrumental in improving our development cycle with the Ethereum platform. He is currently setting up our internal chain testnet called “Oysterby” and working with the team on the most efficient methods of PRL distribution.
We will continue to update the community on Mainnet progress every week leading up to the launch date of May 29th. Any questions or comments are encouraged to be posted to our Reddit, or Telegram channel.

“PRL is the only asset in the world that is pegged to something tangible (hard drive storage) in a decentralized way, without requiring a reserve. USDT is an example of a pegged coin; however, USDT is centralized and hence carries counter-party risk. Additionally, the dollar used to be pegged to gold but was then unpegged for political reasons. There has never been an asset that has been pegged to something tangible in a decentralized way, making PRL the first of its kind.”

This is a very unpleasant moment, but is there information on the volumes?
How many of their coins do they sell? In total they have 25kk token.

Every month at the first day(s) the devs will sell some of their PRL. They even said it themselves. Look at February 1st , March 1st and April 1st that's when the devs released their bags of PRL's.

I really don't understand these people pulling nonsense out of nowhere, just to FUD on every thread. Gets annoying after a while. Someone else for me to mute.

Please give us proof of this trolling you will get nothing because of this fake news. Maybe you dreamed about this to buy this token at cheap but with open eyes this kind of dreams is not a good habit.