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Topic: [ANN] [XEL] :: XEL - The Decentralized Supercomputer :: - page 95. (Read 253604 times)

hero member
Activity: 896
Merit: 1000
Avatars are overrated.
I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins!  Smiley

Ill stay posted!

Simply put: there is no funding.

There is also no central authority, which could be considered suitable for holding and distributing any kind of funding. This is a crypto project in its original sense. If you don't know what I'm talking about, look at how Bitcoin came to life.
No funding except for the ICO? Call me crazy but I remember an ico.
legendary
Activity: 952
Merit: 1000
EK, Coralreefer, if you guys are incompetent I'd hate to think where that puts a moron like me! 

Anyway I am happy to contribute towards a foundation if that is what people want.  Might be better to use BTC for that purpose, we would just need someone to run it. 

I would do it if I had the time but I am currently jumping through various hoops to return to my career after a long period of ill health.

If someone were interested we could perhaps scrape together some XEL for them to hold long term as part of the position to give them more incentive and a stake in the project. 

Also I think I would not be alone in helping from a monetary perspective.
sr. member
Activity: 464
Merit: 260
Regarding the funding issue, and someone please correct me if I am wrong but the project has been progressing without funding for at least the last year? and if so, it looks like Elastic doesn't really need it for the project to move forward.

I think that two things are mixed up here. The project has no funding because there is nobody to manage any funds. But this doesn't mean that there have been no rewards. I guess that everyone of us has gotten generous gifts, donations, bounties or however you would like to call them. But there is a difference: there are no work contracts, there is no salary, there are no monthly payouts or anything like that. If someone gets something now, he get's it either as a voluntary bounty for past work, or because his horse mask selfie made some rich guy smile for a second and then go wild. Such bounties are NOT a payment for future work.

This essentially means, that everyone of us is willing to work on the project because it makes a shit load of fun - who doesn't like the great feeling after solving something really tough? People here do NOT work because there is a boss paying your salary and making you his own private snitch.

Some have gotten more, some have gotten less, and some are yet to get something maybe. But please understand why the funding discussion is silenced over and over again: nobody is required (or should be forced) to talk about his own funds to anyone else but the lawyer who does his tax reports (yeah, I admit that I pay full income taxes on everything that I get - this cuts everything down by 50% but better be safe than sorry!)

Also: My personal view is that results are mostly better if people are passionate about something that the results of people who are paid to work the "schedule". But this is just my personal opinion. Of course you can find examples in the real life which show the contrary - it's just an observation I have personally made very often.

I think its redundant to mention, that I would never accept any salary from anyone (not even a foundation) ;-) Neither would I accept anyone tracking my work and comparing against some schedules / roadmaps nor accept anyone telling me what to do! And this is the great thing about Elastic's project structure: if someone disagrees with what I do or think, he is free to do it better. Every contribution counts because we are all equal!

I agree with what EK wrote above; however, the one area we may not completely agree is on whether a foundation (or whatever it ultimately gets called) would benefit the project...

We see almost daily questions (between here and slack) requesting who can answer questions about the project, it's direction, marketing, etc.  Both EK and I have consistently said we are not interested in providing this project oversight / direction...we simply want to work only on coding the underlying engines.  I wish the project could have been a traditional open-source project where people just jump in and contribute how they feel best, but there seems to be a large learning curve with this project that may be a deterrent to people getting involved.

So it seems that there are 2 primary options...1) wait until the compute engine is complete and see if new talented devs outside the crypto world start taking notice and get involved as they identify ways to enhance Elastic to better server their needs, or 2) create a foundation that will fund a couple of key resources to start leading the project, document everything, manage websites / source code repositories, etc.

I believe option 1 will happen on its own, but may take quite a bit of time, and in the mean time we continually get bombarded with people asking the same questions over and over again.

But like EK, I'm not going to be part of running a foundation, nor do I want to be on the payroll of one (the community has already graciously given me quite a bit of xel).  So I am just throwing out my thoughts that I do understand the concerns that we see expressed here over and over...but this is really a decision for the community to make (not EK) and the community can act on it if/when they feel they are ready.

PS...regarding BaNgTHai's question above...I too fall under option B...completely incompetent...
legendary
Activity: 1260
Merit: 1168
Regarding the funding issue, and someone please correct me if I am wrong but the project has been progressing without funding for at least the last year? and if so, it looks like Elastic doesn't really need it for the project to move forward.

I think that two things are mixed up here. The project has no funding because there is nobody to manage any funds. But this doesn't mean that there have been no rewards. I guess that everyone of us has gotten generous gifts, donations, bounties or however you would like to call them. But there is a difference: there are no work contracts, there is no salary, there are no monthly payouts or anything like that. If someone gets something now, he get's it either as a voluntary bounty for past work, or because his horse mask selfie made some rich guy smile for a second and then go wild. Such bounties are NOT a payment for future work.

This essentially means, that everyone of us is willing to work on the project because it makes a shit load of fun - who doesn't like the great feeling after solving something really tough? People here do NOT work because there is a boss paying your salary and making you his own private snitch.

Some have gotten more, some have gotten less, and some are yet to get something maybe. But please understand why the funding discussion is silenced over and over again: nobody is required (or should be forced) to talk about his own funds to anyone else but the lawyer who does his tax reports (yeah, I admit that I pay full income taxes on everything that I get - this cuts everything down by 50% but better be safe than sorry!)

Also: My personal view is that results are mostly better if people are passionate about something that the results of people who are paid to work the "schedule". But this is just my personal opinion. Of course you can find examples in the real life which show the contrary - it's just an observation I have personally made very often.

I think its redundant to mention, that I would never accept any salary from anyone (not even a foundation) ;-) Neither would I accept anyone tracking my work and comparing against some schedules / roadmaps nor accept anyone telling me what to do! And this is the great thing about Elastic's project structure: if someone disagrees with what I do or think, he is free to do it better. Every contribution counts because we are all equal!
legendary
Activity: 1512
Merit: 1015
Regarding the funding issue, and someone please correct me if I am wrong but the project has been progressing without funding for at least the last year? and if so, it looks like Elastic doesn't really need it for the project to move forward.
hero member
Activity: 994
Merit: 513
I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins!  Smiley

Ill stay posted!

Simply put: there is no funding.

There is also no central authority, which could be considered suitable for holding and distributing any kind of funding. This is a crypto project in its original sense. If you don't know what I'm talking about, look at how Bitcoin came to life.
full member
Activity: 166
Merit: 100
I dont know why everyone got so out of shape cause of my curiosity regarding the funding......especially since there are multiple threads on the Elastic forum talking about how to solve this exact issue. I didnt even ask for details on the project's funds all I said was that it is a hurdle that the project will have to overcome. Am I wrong eehhh prolly not.

Thanks for the correction on the 100 billion coins!  Smiley

Ill stay posted!
hero member
Activity: 500
Merit: 507
So this is a PoW but not in the traditional sense correct? Where can i find more information on the specs of the coin? All i can dig up is the 100b coin supply


If you looked well enough you probably would have found the website to check some of that info yo0u wanted: (https://www.elastic.pw/)
In any case, i think that from what you described above you are perhaps better fitted with allocating your funds into one of the more "standard/orthodox" projects around, that way you can leave the worrying of funding and other stuff related to this project to others.
Good luck!


* (oh, and it's not 100b , but rather, 100mill total coin supply , small difference)
full member
Activity: 166
Merit: 100
So this is a PoW but not in the traditional sense correct? Where can i find more information on the specs of the coin? All i can dig up is the 100m coin supply
legendary
Activity: 1260
Merit: 1168
If im looking to invest in a project and they don't have their finances figured out marketing, salaries, etc it means A.) they aren't far along enough in their journey to establish this plan (not necessarily bad) B.) they are incompetent and not worth investing in.
If it's B then you are right, I should care less about how yall handle your guys finances hence the question......Trying to figure it out. I don't think a platform based on donations is sustainable long term.

I am sorry to say, but I am afraid we fall into category B. I cannot speak for every developer here, but at least I am pretty incompetent. You should avoid any kind of investment here (this is of course my personal opinion only) because of two simple facts: On the one hand, you are obviously looking for real companies with salaries, buzzwords, buzzier words and all this cool stuff, and on the other hand Elastic was never meant to be an investment tool. Maybe there is something better for you to "invest in"?
full member
Activity: 166
Merit: 100
Slack is down.

No!

Quote
I don't understand the difference between Golem and Elastic?

Golem for now has hard coded use cases while Elastic allows you to program your own algorithm in an own programming language. To be fair: Golem plans to support own hand-crafted work packages later on. Also, the infrastructure is totally different. But my time is limited at the moment, maybe someone else can write a blog post or something.

Quote
Also, the funding of the team seems to be the biggest hurdle!

Why are you making the bank accounts of other people your problem?

Well, slack may not be down but the invitation link from the received email is not working.

If im looking to invest in a project and they don't have their finances figured out marketing, salaries, etc it means A.) they aren't far along enough in their journey to establish this plan (not necessarily bad) B.) they are incompetent and not worth investing in.
If it's B then you are right, I should care less about how yall handle your guys finances hence the question......Trying to figure it out. I don't think a platform based on donations is sustainable long term.
legendary
Activity: 1260
Merit: 1168
Slack is down.

No!

Quote
I don't understand the difference between Golem and Elastic?

Golem for now has hard coded use cases while Elastic allows you to program your own algorithm in an own programming language. To be fair: Golem plans to support own hand-crafted work packages later on. Also, the infrastructure is totally different. I hope that some day, someone writes down all differences both at the functional level and deep inside the architecture.

Quote
Also, the funding of the team seems to be the biggest hurdle!

The bank accounts of other people should not be your concern. But if you insist on doing some funding, please give my part to someone else!
full member
Activity: 166
Merit: 100
I don't understand the difference between Golem and Elastic?

Also, the funding of the team seems to be the biggest hurdle you guys have to get over, at the moment, if you want to become a legit project with a big market cap.

Slack is down. Thoughts on making a telegram?
hero member
Activity: 616
Merit: 500
1864BTC volume change at bittrex.  
legendary
Activity: 1050
Merit: 1000
Yesterday, while I was loopy on pain meds (just got my wisdom teeth out) I sold half of my XEL and put in a buy order to buy back 10% lower. The only problem is I didn't make a buy order... I made a second sell order... and checked today to see all my Elastic was gone. Tbh I want to off myself.

We all have done stupid things in the past trying to ride the wave. It sucks but it is an expensive lesson. Better to take a hit now and learn, then to take a hit in the future at a much bigger scale.
hero member
Activity: 588
Merit: 500
I sold some XEL that I bought at very cheap prices! Now I'll be focused on absorbing more XEL when this hype disappears! Elastic is a much superior design and will grow slowly, consistently, in the style of Stratis, Ethereum and Bitcoin. For starters, be careful with this moment, XEL may jump to random prices, the correct at that moment is to believe the people involved here. Smiley


i hope Elastic will be top20 in few months!


On the way. Keep it up.
full member
Activity: 414
Merit: 101
I sold some XEL that I bought at very cheap prices! Now I'll be focused on absorbing more XEL when this hype disappears! Elastic is a much superior design and will grow slowly, consistently, in the style of Stratis, Ethereum and Bitcoin. For starters, be careful with this moment, XEL may jump to random prices, the correct at that moment is to believe the people involved here. Smiley


i hope Elastic will be top20 in few months!
legendary
Activity: 1526
Merit: 1034
Yesterday, while I was loopy on pain meds (just got my wisdom teeth out) I sold half of my XEL and put in a buy order to buy back 10% lower. The only problem is I didn't make a buy order... I made a second sell order... and checked today to see all my Elastic was gone. Tbh I want to off myself.
full member
Activity: 602
Merit: 144
Chainjoes.com
Hey hey,

Elastic gonna go to 200.000 sat at least before end of september.

Accuracy prediction? 100%

I make my home work.

I bought for 34 BTC at 18.500 sat to 19.500 sat.

Just weak hands gonna sells before end of september.



We agree somewhat with your estimate. Our target is $4.2 (weighted average per XEL), but that's just the shortterm.  Considering all potential futures branching out from this point, we see Elastic technology as doing a lot of good for a great many people.  Our DD found that EK's teams' design and goals are sensible and achievable, whereas other similar projects have quite outlandish ideas that are not possible (some are clearly pseudoscience).  We anticipate Elastic will quickly become a de facto cloud computing platform.  Technology is the key here, not ico prices nor past history.  Markets are a discounting mechanism: they discount past history and anticipate the future.

Yes i know, its going to be something between 400.000 sat and 1.000.000 sat before end of this year.

200.000 sat is just a first step.
full member
Activity: 602
Merit: 144
Chainjoes.com
This is no pump.. I believe it is XEL finding its true value.

Yes it is not a normal pump.

From today Elastic gonna change for ever, with a Volume that going to hit 60 BAT at least next 24H, Very good project and very low marketcap.

It is going to explose in average trading volume from now, for new high days after weeks.
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