Topic: [ANN][XSN] Stakenet - The World's First Trustless Proof of Stake Coin - page 15. (Read 65167 times)

you are right, the developers delivered quite a lot in the testing-channel, and that for sure was no easy endeavour. at the same time that is the main reason why i wish for professionalism, because it hurts to see so many vaporware projects with just a semidecent marketing/pr strategy having a higher marketcap. if everything goes as planned 2020 should be stakenets year

You're doing such great analyses of stakenet , I love it man! I hope in time more people from community will support your posts. Well , the 2019 roadmap was pretty insane to be honest so was hard for them to achieve all the tech details especially when they needs more funds , right ? Even in this situation they managed to deliver the tech that so far it works without problems. Besides this I don't think we will get anything extra before this year ends but I do have a feeling that 2020 will be a good year for stakenet when it comes to tech deliver.

there are 16 days of 2019 left and the team deployed - according to their roadmap - the following useable items:

ledger integration (no tpos)
trezor integration (no tpos)

as well as some not useable items:

One-click Lightning Network swaps [M] - not useable due to having no Stakenet Wallet(formerly mclw) deployed beyond the testphase
One-click Lightning Network privacy swaps [M] - same thing
Stakenet Wallet: TOR integration [M] - same thing
Stakenet Wallet auto updates [M] - same thing
Xeeda hardware wallet XSN support [V] - not useable due to no xeeda device

so all in all this year has brought us nothing really useable besides ledger/trezor integration. the testwallet is not a finished product - or to quote the team "During periods of hardcore backend development it is hard to show the larger audience the progress you are making, especially as there are no products they can use to see or measure that progress as nearly everything is done on the backend." (https://medium.com/stakenet/stakenet-2-0-a-new-era-e60288bf90c0 emphasis mine) and don't get me wrong, i would be happy if i would have been wrong with what was called fud. but in the end of the year my treasury analysis (https://bitcointalksearch.org/topic/m.50709268) was even too positive as recent developments showed, as well as my interpretation that 100% items will need about 1-2 quarters to being deployed (wallet was at 100% in may for example). the decentralized teams working on different parts of the stakenet infrastructure/environment don't really show as well. the only thing being developed seems to be the coin, there is no wp for anything but the coin, epos (XSN EPoS whitepaper and roadmap [V] at 20% on the roadmap) has not been heard of for quite some while, the fund for the hardwaredev (XSN Viper) did not materialize in anything seeable but 35% on the roadmap. so the decentralized teams working around different parts of the stakenet environment are rarely spotted. one of my favorites from the beginning CCPOS, which would allow to stake xsn and get rewards in for example btc, is at 10%. in the end the roadmap was too packed and too ambitious.

so what would my christmas wishes be?

firstly some realism. don't get items to 100%, which are not deployed/finished. don't cram the roadmap with stuff that gets no attention from the devs for one reason or another, don't add any more funds unless there are finished products. and either get rebecca back or hire someone new. so i guess i mainly wish for a more professional appearance, which would enable people to follow development without the necessity of being in a testing channel.

secondly - any release. but since i think that that can be butchered by having bad marketing first things first.

thirdly since i don't care too much for the hardware(if i remember correctly the vote back in slack times was 5mio coins in funds) or epos anyway, don't invest in those unless they become more than some acronyms and flashy names - for decentralized teams it should be possible to write a whitepaper on the whys of them. if they still have some funds don't touch them until the price increases.

or to put my wishlist into one word - i wish for professionalism

Can someone tell me if the new ROI of over 100% is just because of the new update and fork ? I mean this is a super bad reasons for a coin la stakenet to approach a situation like this when they go from 16% ROI to over 100% in 2 weeks...this will only generate more coins and will draw the price down as main investors don't want to see big ROI like this. I do hope this fluctuations will stop soon and everything will be back to normal like it used to be.

pretty sure you should get off your high horse

Gotta keep up to date with what happens with the projects you invest in. Otherwise you could be burned hard, lol

I was only alerted to this fork by way of an unusual amount of success staking all of a sudden. I'd left the node running on the old chain and had fewer stakers with whom to compete for a stake, and on a completely useless chain whose coins will be rejected by the new one. So I guess those who don't realise the fork happened will keep accumulating a bunch of useless, old coins on a dead chain... at least they'll get a lot of them, lol.

What happens for those that didn't upgrade?

thx. absolutely with you on the funds, dont want to see the project die because of funding issues, there is just too much technology at stake. only thing i would like was some milestones/goals which unlock certain funds(for marketing for example). but in the end it is by far better perspectivewise to have the funds and not only the blockrewards.

Nice info you provided above , I appreciate that. I didn't know about the extra supply added lately and that Rebecca left the team recently but even after this the team is still looking strong despite the fact that they won't achieve the roadmap they promised for 2019 but a lot of things were achieved.

Regarding funds, lets be glad that they working so hard without having any ICO to sustain the project and this is a strong fact that they're working for themselves too in order to obtain success of Stakenet. I hope in time they will achieve 1$ per stakenet and maybe the next pump will help them with this.

true, but one stake is 9xsn and that is not even 0.5 usd - i think power costs are just higher than that. therefore inefficient. as long as turning the device off is more price efficient than staking, the cloud seems to be an alternative. but yeah, i don't even have an account over there, since i strongly dislike not owning my coins. not my keys - not my coins

the report on upblock is interesting https://upblock.io/report/Stakenet , but there are some inadequacies in it.
for starters the highlights - "Stakenet Wallet allows users effortless non-custodial access to multiple Cryptocurrencies, built-in privacy over TOR, and an In-Wallet DEX." will allow, has not been deployed yet. and if the hardware division (or the lack of information about it) is a highlight is doubtful.

the market data is wrong. the Circulating Supply is 97,690,840 XSN and the Total Supply 101,773,528 XSN. in depth should not forget about the fork, which added 7mill. in the reports defense - it was only a few hours before the report was published though, and i guess cmc was not updated at that time, or the report written before.

the threat of "Stakenet is funded by 10% of the block rewards. No ICO to cover development costs. They need a solid financial plan to keep development active" is not fully covering the funding. there were 11.5mill coins in funds from the transition from posw to xsn, and now another 7mill got added for dev purposes, and rsb are reinvested as well. so not saying that they don't need a solid financial plan, but it is not just funded by 10% of the blockrewards.

what is stakenet section "Another product they want to offer in the future is a Decentralized  Exchange - Stakenet dx. The masternodes supporting the network will get 100% of the fees collected." seems not to be true in the beginning, draper stated it will start as hub by the team and some(not all) community members. so not all mn will be eligible from the start.

technology: "Stakenet builds on previous iterations of PoS consensus algorithms, precisely that of Peercoin, with an additional implementation that enables staking on cold-storage wallets." staking from cold-storage wallets has not been enabled by either ledger nor trezor, so i would go with ... additional implementation that will enable ...

product: "TPoS marketplace: Marketplace for users to find the best merchant nodes for staking XSN." as far as i know that never was implemented, and with the proposed moving of tpos to the masternodes, this wouldn't be necessary anyway.

privacy: up until now nothing has been deployed, also "The zero-knowledge proof technology zk-Snarks is another privacy-centered feature that is set to be implemented in the future." according to the roadmap it would be "First layer network upgrade: Confidential Transactions -MimbleWimble- [M]", which has been proven to be insecure (https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52), so i hope it is just the roadmap not being updated.

team: in discord there was a statement, that rebecca does not work for stakenet anymore, would be happy if that was wrong though, and yes she is still on team homepage, on the other hand her last post was long long ago.
team compensation method - as stated above there are also the funds and those are not just fed by 10% of the rewards.

the roadmap section is highly inaccurate. there are no quarters on the official one and how it is put on upblock it woud seem that the there would have been a launch of the mclw in q1 or of the dex in q2.

Project Start / ICO Details (If Applicable): "Took over from POSW by X9 developers and rebranded to Stakenet at March 2018" which had an ico to be objective
and "No premine / 73 Million coins swapped from POSW to Stakenet" - still don't understand how they should have been able to *poof* magically have 73mill coins appear for a swap without a premine. but that might be a problem with my idea of a premine ("Premining is the mining or creation of a number of crypto coins before the cryptocurrency is launched to the public." @investopedia). and i really don't see how that would be bad with a swap, since unswapped coins got burned anyway.

block info/inflation: the inflation now actually is 10,33% and not 12,95% ; i think the report simply did not take the 7mill added coind into account, but ofc more total supply decreases inflation

partnerships: as stated many times, i really would not put xeeda out there anymore. or has a any shipment occured in the last year? well at least there was an update in there telegram channel, that a new hp will go online soon on dec 1st. anyway i would never put that above the ltcf cooperation.

social presence: only accounts for english channels, stakenet has active - for example german and turkish - community channels in other languages as well i would add

I think its much safer to be in control of your coins , right ? If you can't manage your pc to run 24/7 then yes, you can try the cloud from stakenet. Also read above that sometimes it will take some days to withdraw coins from there so if a pump happens what will you do in that situation as like I said your not in full control of your funds.

I think you should have a look at the cloud (cloud.stakenet.io) for one stake a week it seems a little ineffecient to have the wallet on 24/7.

A stake per week ? I would say 1000 Stakenet but why would you want to get only 1 stake per week ? I would say that you can start slowly accumulate a masternode like I did as I think in 2 years it will worth x10 from initial price of 0.5$ which will make the masternode worth a lot. The team is working hard,  new dex coming, wallet looks amazing and xsn its on sale like all the rest of the coins from markets.

You can try tho a calculator to see exactly how much coins you will need but my guess its aprox 1000.

How many coins do you need to get a stake a week?

update for the "d"ex: will start as one hub from teammembers and whales (@draper on discord). rumour: 10mns required leaked in german telegram as far as i know. i love how this team communicates and how transparent their decision making is. also very good for decentralization when only the richest few are able to profit. you know they will never dump any coins. people who supported that project a lot now might ask themselves if it is really that good to share infos from the team, like what ONE mn will be able to earn (also in the wp). why not just take some of the extra 7mill and run it on those, at least being able to support tech instead of the richest whales, if it is going to start centralized anyway?

by far the funniest part to me: remeber the decision of the team to not have pooled masternodes as promised? yeah that wouldn't help at all... just allow a pool with some max coins (idk 1000 for a quarter for example) have a far bigger part of the commnity involved and 150 people will try to make some buzz for their dex. but then again a superwhale can just host a few, which is better for no explicable reason. if that comes then have fun with dex owners, who can centralize the market even more.

that non of the info given by the team is really 100% accurate hopefully works out this time as well, but with bad things - they tend to come true - except the epos health data miner thing, that seems to have died for good. anyway impressive how long people were told what they could do with one mn, even though the team must have had this thought for longer, if not, then please rethink it.

oh and my most beloved part of yesterday:

how much i love that dictating. firstly they are voting, secondly on options the team is dictating. somehow there is always only one option that makes sense. it always is give us money or we die/slow down (if that's even possible) and so on. being able to vote on predetermined options is not the mn owners dictating, it is simply the team dictating what to vote for. come on that is like "are you in favor of relaxing gun laws?" vs "are you in favor of schoolkids getting shot?", as long as the team gets to decide every question, as long as we cannot even trust the whitepaper, which clearly states that one mn will be enough, as long as we have zilch insight into the project, as long as the team decides everything perspectivewise behind closed doors - since the wp cannot be trusted anymore, how should anyone be able to dictate the team...

edit the part about mn from the wp: "2.5.1    Masternodes
A Masternode is a dedicated fullnode of a blockchain that resides on serversaround the world to ensure decentralization and redundancy.  While a stakingnode is responsible for the validation of the blockchain, a Masternode providesseveral  services  for  the  network.  To  operate  a  Masternode  a  valid  collateraloutput  of  15  000  coins  for  each  Masternode  is  required.   This  was  made  tocounter a wild growth of the nodes and to avoid rogue nodes.  In addition to Masternode default features like instant send and decentralized democracy, our Masternodes are aimed to be one of the most powerful stations within the cryptoindustry and will earn a passive income based on the services they provide. They will:
−Host and run XSN Dex.
−Host all needed blockchain explorers to ensure true decentralization.
−Host all blockchains needed to keep XSN Dex decentralized and light.
−Handle Lightning Swaps and Tokenized Swaps between different blockchains.
−Be used as watchtowers to host and monitor Lightning Channels.
−Use their collateral to provide Lightning Network liquidity.
−Authorize  and  secure  the  transfer  of  tokenized  coins  between  differentblockchains.
−Facilitate instant and private on-chain transactions.−Provide onion routing and ensure secure exit points for the network.
−Host dApps for Stakenet and other blockchains.−Be used for the decentralized democracy of the network.
−Offload  CPU  and  database  capacities  for  everyone  within  the  Stakenetmesh.
Thanks to the Masternodes, the Stakenet blockchain becomes an ecosystem inwhich no single entity can govern and serve the entire network."

A new version of wallet v1.0.21 has been released, this is a mandatory update for all nodes, all network nodes must be updated to this version before December 2

https://twitter.com/XSNofficial/status/1198078775851810816?s=20

They won't need livecoin for too much , we just have to wait for their dex to be completed so we can use and trade stakenet there without having any waiting issues with waiting. Also , I'm sure that after the dex launches , a lot of other exchanges will jump in trying to list stakenet and most of them will really do it.

Livecoin is a decent exchange , has good coins , decent volume , good support and good security system but there is a lot of room for improvements and I hope stakenet deposits is one of them as you wait almost 10 times more than 39 conversations time.

i think your logic is either a little flawed, or at least i cannot follow. how would it help the devs - if they were keeping too much for themselves? having a ton of coins without an exchange would hurt them worst than, wouldn't it?
the team has a major problem with its erraticism - how many projects did they announce in the first year? what has been finished, and wasn't the site as well as any other departement (epos, hardware) mainly for wasting treasury without adding worth to stakenet?
the teams priorities have been wrong from my perspective for a very long time and that lead to their need of new treasury funds. but hey, when putting forward the criticism against wasting money in the first year into too many different directions, that was fud. adding 7mill though is a sign of a very thourough and visionary leadership by draper i guess

Not being on enough exchanges is where a coin can really fail.  The one exchange they are on gets hacked and then the coin can be virtually dead.  If the team isn't getting the coin on exchanges, it's a bad sign.  It can mean they are keeping too much of the money to themselves.