Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer - page 294. (Read 450524 times)

I started a little donation yesterday just as a test.

Now I am waiting for EK / Lannister to answer my question if they can afford a little time for this in order to provide a much bigger donation.

I am expecting an honest answer from them, I guess I will get it as regarding their history in bitcointalk they don't really like  hype / greed and seem trustworthy.

After my donation I will try to expose my view on the economics behind XEL in order to contribute to the project as much as I can.

Not sure it will be helpfull but at least I will try to help

I did not donate at current rate as I was waiting for another early donator to get his XEL, but he seems not interested anymore...

But anyway I will make donation at current rate for sure, I will try a tiny amount to check that everything is working fine then I will make a bigger one.

Hope that answer your question 

If I red your posts correctly you wish to get a discount and after this you want to donate at the current rate and become a part of the project.
Did you buy already to current rates? I'm just asking without any offense   I'm a friendly guy.

First I will not explain again my logical and respectful reasons to want to get XEL from early buyers before to make a donation, it has already been explained and if some people cannot read my post or understand they better no post and anyway they don't deserve my time.

Besides I have spent some time to read the last half of this thread and I have some questions if Evil-Knievel and / or Lannister wishes to answer them.

Earlier "Dazza" was working with you and specifically on the computational side of the project, I would like to say the core of the project. Now it seems that Dazza has some personal issues and did not appear on btctalk since few months, so it seems possible that he will not contribute on this project anymore.

According to EK, dazza was a key element for this project, so I would like to know if even without Dazza both of you are still confident to be able to achieve this project ?

If I go to the website http://forum.elastic-project.org/ I cannot see any post and the forum is totally empty, like there is only the frontpage and no activity, the only articles are about wordpress.
Am I on the good website, do I need to register to see the activity?

A last question is about the donation collected, I would like to know how long time the devellopement of the project can be funded with the remaining BTC considering the value of BTC remain the same?

The project is advancing fast and it gets solid. There will be nobody seriously sell at this stage. Why they should? Get it from the donation side. It is more expensive now but that's life.

No one has their XEL to sell yet.

Thank you very much ;-) This looks pretty good! I will try to get a DETAILED look at your project this afternoon 

It's so quiet in here, so I feel I have to give some kind of update to what I have done.

You have probably seen a lot of activity in the github repository. At the moment I am working on many of the small details of the protocol including:

- making sure that bounties are correctly paid. This is not trivial because, unlike POW rewards, which are paid immediately, bounties are collected and then, after a job is closed, timeouted or runs out of funds, the bounty fund is split among all bounty submissions.
- making sure that work timeouts work flawlessly, and that the remaining funds are refunded properly.

This requires some special treatment in the block validation routines: a block MUST for example enforce a job cancellation transaction if the blockheight is equal to the work expiration block height. And with all cancellations we have a list of bounty payments that have to be ensured to be in the block.

This is a bit different to bitcoin, because in our case certain transactions HAVE to be there and some of them HAVE to come together with other transactions. In bitcoin, each transaction is independent.

Furthermore, I have spent a lot of time addressing rounding problems. As some "arbitrary" design decisions had to be made, I share my thoughts with you here so anyone of you can give his veto if not agreed:


Common problems when working with fractions!
==============================================

== 1. Rounding error on bounty payments may occur, which would normally cause little fractions of XEL being destroyed. 1 XEL, to recall, is described by 100000000 NQT.

Example:
- The Bounty fund (for fucks sake) is 100000001 NQT
- We have two bounty submissions
- Each submitter is credited half of the bounty fund
- As we have no fractional NQTs, everyone would get 50000000.
- 1 NQT (which cannot be split up) would get lost
- Even though 1 NQT is almost nothing, we do not want any deflation.

The lack of subNQT values is essential here, so we track how many NQT would actually get lost. Those NQT get assigned to "someone" "randomly". I suggest the lowest account number of all bounty submisions (this is deterministic and unique) is credited those rounding-error-NQT.

This NQT saving function is implemented in BlockImpl.java in function checkIfBlockContainsNecessaryBountyPaymentTransactions();

== 2. Same problem may occur when a job is being created. Usually you attach some amount of XEL which gets split up in 60% which go to the proof-of-work fund (we need to write that down in some blog so people can understand this scheme easily), and 40% go to the pow found.

Due to the lack of fractions, we are faced with the same problem. Fractions of XEL might be lost when the split 60:40 would result in sub-NQT values which get ignored.

Here, I also suggest to track how many NQT would get lost due to such split, and add it by default back to the proof of work fund.

Yes this is correct @ Matt ^^ Write a PM if you question about the git.

Hey see your discussion and maybe this helps, we just ported Hodl to a new core and built in a shield against the chain stopping at low mining rates,
we also built a new tricky diff retargeting algo with a dual KGW algo. (two kgw, one hardcoded to check against)

hope that helps, here is our GIT
https://github.com/LIMXTEC/Europecoin-V3

sharing is caring,
Matthias

I agree 100%. Guys, please don't let anyone push you. You are in the right track.

agreed! 

Just check http://www.elastic.pro/donations to see the XEL/BTC going from 8000 XEL per BTC in the beginning to 4000 XEL per BTC at the end of the ICO

Faster it would be but more expensive as well. I guess the deal is to get the early investments when XEL to BTC was quite more favorable.

Why not buy on ico ? It would be better and faster .

Hi Lannister,

First, thanks for the time spent in order to transfert the ownership of some accounts.

With the deal I have done with Jeremy, it seems that he has done everything right and on my side I sent the btc, so could you confirm the transfert of ownership is ok and definitive?

Now I have to apologize in advance because I would like your help again for another transfert of ownership from "TheDR", he is going to sign the same message as Jeremy with some of his accounts in order to give me the ownership of his XEL.

So could you tell me when everything is ok and I have the ownership of his XEL in order I can send him the btc? Is it ok if I use the same public key / address?

I don't want to use your time neither to pollute the thread with these transferts of ownership, so I declare that after the transfert from "TheDR" I will not accept any other deal but I will make a donation instead in order to help the project and be more involved.

As you have may noticed I am technically closer to a noob than an expert but I do understand the economics behind crypto, so I will try to help in this field later.

I never setup mining on any coin before. I attempted to mine btc back in it's ancient times but should of tried harder lol. I decided I want to be an Elastic miner and would like tips on what hardware and learning I should acquire.

Agreed

Sounds good to me as well!

Agree. Of course genesis should start after the end of the donation campaign.