I'm very excited.
And I have a good feeling for Blocknet.
https://twitter.com/Polycrypto/status/526844441576112128
Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 432. (Read 1103293 times)
October 27, 2014, 05:55:16 PM
October 27, 2014, 05:13:20 PM
I know it was explained already, but my stupid technologically unsavvy brain doesn't quite comprehend it yet. I went on coingateway to try and get a feel for how to use it for Wednesday, but when it asks for recipient Bitcoin address, what would I use? The address I use to deposit BTC to Bittrex or will I be given a specific one somehow for Blocknet? Thanks in advance!
Go to Fiat (Cash) tab
you are choosing your coin on the left and BlockNet on the right That makes it very simple. That helps a lot, thank you! Can't wait for Wednesday.
October 27, 2014, 05:01:42 PM
I've been analysing the investment potential of this project and detail my methodology below. Essentially these tokens derive their value from the micro fees they receive. As the OP explains these aren't coins - "is not a coin but a token of value the blocknet adds to every service it enables."
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Think of how many coins will be added to the Blocknet. Basically I see it as the more coins added to blocknet(which is what blocknet is about?), the easier it will be to get that 500k btc worth of volume in a year.
Thanks Mr_Random.
I don't have much to add, but here's a point or two:
Blocknet tokens will still be tradable and speculators and investors can gain or lose based on their market value.
Short-term gains (i.e. before the Blocknet launches or grows large) will be purely on the basis of tokens' value.
As the Blocknet grows, fees will become an increasingly lucrative revenue source.
Fees: service providers are free to set any fee they want for a service, and nodes that provide the service keep the fee.
In addition, service providers pay Blocknet fees, and it is this that is paid to shareholders.
This will be a microfee, but its value has not yet been set, due to the fact that we're not yet sure how many instances of Blocknet-fee-charging are likely to occur across a broad range of services. The idea is that a fee will be charged for a given function that the XBridge performs; certain services might require very small or very large numbers of functions, and we will first need to be able to model this before we can create fee structures that track both the cost to the Blocknet of delivering the service and the value of the service to clients.
October 27, 2014, 04:57:06 PM
I've been analysing the investment potential of this project and detail my methodology below. Essentially these tokens derive their value from the micro fees they receive. As the OP explains these aren't coins - "is not a coin but a token of value the blocknet adds to every service it enables."
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Think of how many coins will be added to the Blocknet. Basically I see it as the more coins added to blocknet(which is what blocknet is about?), the easier it will be to get that 500k btc worth of volume in a year, along with the probable widely fluctuating prices of blocknet shares, you might get 100% return in a week(similar to how btcd's ipo did)
October 27, 2014, 04:50:35 PM
I've been analysing the investment potential of this project and detail my methodology below. Essentially these tokens derive their value from the micro fees they receive. As the OP explains these aren't coins - "is not a coin but a token of value the blocknet adds to every service it enables."
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Think of how many coins will be added to the Blocknet. Basically I see it as the more coins added to blocknet(which is what blocknet is about?), the easier it will be to get that 500k btc worth of volume in a year, along with the probable widely fluctuating prices of blocknet shares, you might get 100% return in a week(similar to how btcd's ipo did)
October 27, 2014, 04:32:49 PM
I've been analysing the investment potential of this project and detail my methodology below. Essentially these tokens derive their value from the micro fees they receive. As the OP explains these aren't coins - "is not a coin but a token of value the blocknet adds to every service it enables."
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
Let's assume you have 1 BTC worth of these tokens out of the 2500 BTC worth of tokens out there. Typically for an ordinary investment, 10% return would be amazing for a year. In crypto where things are very high risk and volatile, people would expect more like a 100% return in a year.
So 1 BTC should give 1 BTC in terms of "paid feeds" over the course of a year. Which means 2500 BTC worth of paid fees across the network. I don't believe the fee structure has been made public or is even known? The term micro fee suggests it will be small. I'm speculating a complete guess at 0.5%. But fees don't just go to the token holders they also go to the node which renders the service, so if that is split 50-50, the amount going to the token holders would be half that. But let's assume it's 0.5%.
For 2500 BTC worth of fees to have been paid, that means 2500 BTC represents 0.5% of all the transactions that have occurred - giving a total figure of 500,000 BTC.
That is right. According to my rough calculations, the network needs to be handling 500,000 BTC worth of volume per year for 1 BTC worth of these tokens to generate 100% return in terms of fees paid. That to me seems unlikely to be happening early on in the life of the Blocknet.
Any thoughts/discussion on my post?
October 27, 2014, 04:06:00 PM
A few more questions:
1. The Blocknet Foundation issues the tokens and puts up all for sale? Why does the foundation not keep some of the tokens for itself? I think that would show more commitment for the success of the project.
2. Who will be working on the implementation of the Blocknet? Dan from XC, I guess. But anybody else? As I understand the developers of the participating coins will mostly work on the services of their coins, right?
Synechist, could you please address these questions?
1. The Blocknet Foundation issues the tokens and puts up all for sale? Why does the foundation not keep some of the tokens for itself? I think that would show more commitment for the success of the project.
2. Who will be working on the implementation of the Blocknet? Dan from XC, I guess. But anybody else? As I understand the developers of the participating coins will mostly work on the services of their coins, right?
Synechist, could you please address these questions?
The Blocknet Foundation does not exist yet and so it's not straightforward to create a Foundation-specific multisig address without a single person controlling it initially.
However the teams of participating coins are all particularly excited about the Blocknet and will be investing accordingly.
The people involved will have a stake in the Blocknet's success. Also, participating coins stand to benefit hugely from its success, so there's a non-monetary incentive too.
As for who will be working on the code, the Blocknet Foundation will allocate funds to developers best suited to deliver specific code. These developers may be from participating coins, but not necessarily so.
October 27, 2014, 03:45:11 PM
A few more questions:
1. The Blocknet Foundation issues the tokens and puts up all for sale? Why does the foundation not keep some of the tokens for itself? I think that would show more commitment for the success of the project.
2. Who will be working on the implementation of the Blocknet? Dan from XC, I guess. But anybody else? As I understand the developers of the participating coins will mostly work on the services of their coins, right?
Synechist, could you please address these questions?
1. The Blocknet Foundation issues the tokens and puts up all for sale? Why does the foundation not keep some of the tokens for itself? I think that would show more commitment for the success of the project.
2. Who will be working on the implementation of the Blocknet? Dan from XC, I guess. But anybody else? As I understand the developers of the participating coins will mostly work on the services of their coins, right?
Synechist, could you please address these questions?
October 27, 2014, 03:22:40 PM
Less than 48 hours to go and no wallets available. Can you give us a time of when we can get them apart from "before the IPO".
I need to set all this up from home ASAP as I will be at work.
I need to set all this up from home ASAP as I will be at work.
I will pm you as soon as it is available for public
You will be able to create BLOCK address on exchanges too
Many thanks! Much appreciated!
October 27, 2014, 02:47:05 PM
Are there rewards for early investors? Or is it the same invest the first day or the last day?
The rewards are the same. After all, the ITO is only a few days long. :-)
October 27, 2014, 02:42:59 PM
I know it was explained already, but my stupid technologically unsavvy brain doesn't quite comprehend it yet. I went on coingateway to try and get a feel for how to use it for Wednesday, but when it asks for recipient Bitcoin address, what would I use? The address I use to deposit BTC to Bittrex or will I be given a specific one somehow for Blocknet? Thanks in advance!
Go to Fiat (Cash) tab
you are choosing your coin on the left and BlockNet on the right October 27, 2014, 02:40:09 PM
Has there been any info released about the Devs other than Dan? or are there not any other devs?
Here you can read about other developers :
http://www.coinssource.com/trust-index/Fibre-FIBRE/
http://cryptoasian.com/swift-bitswift/
http://www.coinssource.com/trust-index/nexthorizon-nhz/
http://cryptoasian.com/util-utilitycoin/
http://cryptoasian.com/lxc-librexcoin/
http://cryptoasian.com/xst-stealthcoin/
http://www.coinssource.com/crypto-coins/apexcoin/
http://cryptoasian.com/ssd-sonicscrewdriver/
Thank you!
October 27, 2014, 02:39:31 PM
Are there rewards for early investors? Or is it the same invest the first day or the last day?
October 27, 2014, 02:38:59 PM
Has there been any info released about the Devs other than Dan? or are there not any other devs?
Here you can read about other developers :
http://www.coinssource.com/trust-index/Fibre-FIBRE/
http://cryptoasian.com/swift-bitswift/
http://www.coinssource.com/trust-index/nexthorizon-nhz/
http://cryptoasian.com/util-utilitycoin/
http://cryptoasian.com/lxc-librexcoin/
http://cryptoasian.com/xst-stealthcoin/
http://www.coinssource.com/crypto-coins/apexcoin/
http://cryptoasian.com/ssd-sonicscrewdriver/
October 27, 2014, 02:37:28 PM
gr8.this faq predicts 900% gains.cant take that seriously.sorry but that was Too Bolt.
Huh? No it does not predict 900% gains. What FAQ are you looking at?
This is the FAQ: https://bitcointalksearch.org/topic/m.9269808
Be "honest"? Are you nuts?
1) With regard to questions that have nothing to do with this 900% gains stuff, I referred McHammer to the *current* FAQ. This has nothing to do with the content of previous FAQs.
2) In the one question where McHammer did refer to 900% gains I requoted my public apology for previously including that paragraph. https://bitcointalksearch.org/topic/m.9335337. I'm not hiding anything. I'm being open about it.
If you can't see any benefit to the Blocknet, you've probably not seen what the Blocknet actually is, having been blinded by your preconceptions. Sidechains are not an "internet of Blockchains." They're not even a decentralised exchange.
They're certainly not an XBridge that can integrate every *existing* blockchain. What's a better plan: integrate every existing blockchain, or persuade every altcoin to scrap its blockchain, its community, and its market cap, rewrite itself as a sidechain, and play tag-along to the Bitcoin Foundation? Easy one, that.
I agree.
As I know some of the people on the team, I trust they are for real. I will be buying some, although I am not sure how much of which BLOCKNET coin I will use as I really like the coins I currently hold. I definitely think it is worth risking a little however. The limited supply is a much better strategy than the essentially unlimited SuperNET ITO. I also like there are some people with real identities behind this, accountable for it, putting their rep on the line. I think that makes it less likely for them to just vanish than many IPOs and so on we have seen in the past. Lastly, accepting BLOCKNET coins, some with low marketcap for payment, to me, ensures they care about the value of the BLOCKNET coins participating long term. (It would be hard to even just cash them out really) So it could be an amazing investment, and certainly the most interesting one coming up. I do not believe it is a "scam."
October 27, 2014, 02:36:41 PM
I know it was explained already, but my stupid technologically unsavvy brain doesn't quite comprehend it yet. I went on coingateway to try and get a feel for how to use it for Wednesday, but when it asks for recipient Bitcoin address, what would I use? The address I use to deposit BTC to Bittrex or will I be given a specific one somehow for Blocknet? Thanks in advance!
October 27, 2014, 02:36:07 PM
Has there been any info released about the Devs other than Dan? or are there not any other devs?
October 27, 2014, 02:17:34 PM
October 27, 2014, 02:15:50 PM
You can check info about developers on coins source
Link?
October 27, 2014, 02:14:36 PM
ito launch time & zone? (sorry if asked before)
this information still not available?
It was answered already
https://bitcointalksearch.org/topic/m.9347227
ok, thank you
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