Topic: GRAFT - Universal Payment Processing Network - page 25. (Read 84356 times)
AWESOME! GREAT WORK!!
$$$GR@FT$$$
$$$GR@FT$$$
That's how I like it. I would have shared the blog post if you guys didn't already. Those are the important updates everyone should follow and especially read to avoid some future questions. It really looks good an I am really looking forward to the super node release
Congrats guys! Continue like that! 
If there are some ICO participants here, you can give your feedback how to handle the situation in your opinion here:
https://www.reddit.com/r/Graft/comments/9bu3a9/ico_investors_fooled/
Miners already gave their comments there, some without really reading the message of it.
https://www.reddit.com/r/Graft/comments/9bu3a9/ico_investors_fooled/
Miners already gave their comments there, some without really reading the message of it.
https://www.graft.network/2018/08/31/graft-emission-correction/
AMAZON AND WHOLE FOODS ARE MERGING. TARGET THE MARKET.
AMAZON AND WHOLE FOODS ARE MERGING. TARGET THE MARKET.
Welcome to our GRAFT mining pool
https://graft.cool-pool.net
AVERAGE LUCK 77% on 28 blocks
no pool fee
support in telegram group https://t.me/cool_pool_net
Welcome and Happy mining !!!
https://graft.cool-pool.net
AVERAGE LUCK 77% on 28 blocks
no pool fee
support in telegram group https://t.me/cool_pool_net
Welcome and Happy mining !!!
This is hilarious, team obviously has zero visions and preparations about this project. One day reward will be this, next day rewards will be that. One day there is ICO airdrop, other day there is no ICO airdrop.
Preparation is half of the work, and GRAFT team failed with it badly.
Preparation is half of the work, and GRAFT team failed with it badly.
of course we all saw this happening from the beginning. while the project is doing GREAT and its the product that WE ALL WANT THE MOST. there were road blocks that were not anticipated and fundamental bugs in the monero architecture that had to be outright rewritten. given the effort shown by the team, and the dedication of the community, i am satisfied with how well this project has dealt with issues as they arise. we have only high hopes for this project as the next few years are certain to show for all of the hard work involved.
Well its always hard to develop the perfect project without any changes or some major projects along the road. Especially if it´s considered one with a big roadmap. I hope that the team does not lose track and keeps on delivering. The super node release will be the next very important feature which might turn anything around
CHANGES IN TRANSACTION FEE STRUCTURE: EVEN MORE WAYS TO EARN WITH GRAFT NETWORK
https://www.graft.network/2018/09/01/changes-in-transaction-fee-structure-even-more-ways-to-earn-with-graft-network/
As the ideas initially set forth in original GRAFT white paper gradually come to fruition, we have to adjust some “game rules” as we get one reality check after another. One of the most important rules in payment processing is the transaction fee structure. Transaction fees are equally important for all players including merchants, buyers, full (RTA) supernode owners, proxy (gateway) supernode owners, exchange brokers, miners, and service providers. After several white paper editions and other adjustments, we propose the following fee structure to be implemented in the GRAFT ecosystem
https://www.graft.network/2018/09/01/changes-in-transaction-fee-structure-even-more-ways-to-earn-with-graft-network/
As the ideas initially set forth in original GRAFT white paper gradually come to fruition, we have to adjust some “game rules” as we get one reality check after another. One of the most important rules in payment processing is the transaction fee structure. Transaction fees are equally important for all players including merchants, buyers, full (RTA) supernode owners, proxy (gateway) supernode owners, exchange brokers, miners, and service providers. After several white paper editions and other adjustments, we propose the following fee structure to be implemented in the GRAFT ecosystem
This is hilarious, team obviously has zero visions and preparations about this project. One day reward will be this, next day rewards will be that. One day there is ICO airdrop, other day there is no ICO airdrop.
Preparation is half of the work, and GRAFT team failed with it badly.
Preparation is half of the work, and GRAFT team failed with it badly.
of course we all saw this happening from the beginning. while the project is doing GREAT and its the product that WE ALL WANT THE MOST. there were road blocks that were not anticipated and fundamental bugs in the monero architecture that had to be outright rewritten. given the effort shown by the team, and the dedication of the community, i am satisfied with how well this project has dealt with issues as they arise. we have only high hopes for this project as the next few years are certain to show for all of the hard work involved.
This is hilarious, team obviously has zero visions and preparations about this project. One day reward will be this, next day rewards will be that. One day there is ICO airdrop, other day there is no ICO airdrop.
Preparation is half of the work, and GRAFT team failed with it badly.
Preparation is half of the work, and GRAFT team failed with it badly.
My thoughts exactly! Hopping from one idea to another and then doing it some other way around. Stop fidgeting!
This is hilarious, team obviously has zero visions and preparations about this project. One day reward will be this, next day rewards will be that. One day there is ICO airdrop, other day there is no ICO airdrop.
Preparation is half of the work, and GRAFT team failed with it badly.
Preparation is half of the work, and GRAFT team failed with it badly.
$$$GR@FT$$$
CHEERS TO THE GREAT WORK, ALL.
https://www.graft.network/2018/08/31/graft-emission-correction/
When you take a look at whattomine, mining GRAFT is as profitable as mining Monero. At first glance, this seems like a good situation for everyone who cares about GRAFT, especially for the miners. But let’s compare Monero and GRAFT market capitalization (the dollar price of one GRFT multiplied by the number of tokens in current circulation): $1.68 billion (Monero) vs. $3.76 million (GRAFT). There is a huge difference between these two market caps, but they have the same mining profitability (actually GRAFT is even better).
The current GRAFT block reward (the proof-of-work fee that the miners receive when they “solve” the block and successfully add it to the blockchain) today is approximately 1,420 GRFT, so every day the GRAFT circulation grows by more than 1 million (!) GRFT. Unfortunately, many miners abuse the high profitability of GRAFT and immediately dump their mining rewards on exchanges, which keeps the price down as the demand cannot cope with such a rapidly growing supply. Even growing demand cannot catch up to the emission rate because the project is too young. In order to stabilize the price of GRAFT (not to mention any growth), we need emissions to match demand, i.e. more people have to join the community and buy at least 1 million GRAFT every day. This is not a simple task for a blockchain that is 7 months old.
Although the block reward is designed to decrease with every block, the current rate by which emissions are decreasing is not significant enough to counteract the overall supply increase rate from miners dumping. It will be significantly lower in, let’s say, one or two years, but the GRAFT team and supporters—including miners—cannot wait that long. We all need the price to stabilize and even increase in order to make GRAFT successful right now.
Note that ERC20 token-based projects do not have the problem described above because they don’t have a real blockchain. Their token supply remains the same (actually, it is even reduced with every exchange transaction), so they just need to make sure their demand at least remains the same in order to constantly pump the price and the market cap.
With that said, in order to increase the value of existing GRAFT tokens, we decided to correct the emission by reducing the block reward by 50%, so the new block reward formula will be as following:
reward = (M – A) * 2^-19 * 10^-10 / 2
Where M is max total supply and A is current supply.
As you can see, the correction will not change the total maximum amount of GRAFT that will be ever created, it will just stretch the emission curve such that it will take longer to mine the total supply (see the existing and the new emission curves on the diagrams below).
All GRAFT supporters should benefit from the corrected emission formula because it is supposed to limit the daily increase in circulating supply, which will reduce the overall supply growth rate and stabilize the price. Long-term miners will benefit from the reduced emission for two reasons: 1) the price will go up so they will receive the same, or even better, revenue, and 2) the emission curve will be stretch, so they will get a more steady income over the extra years without the need to rely on transaction fees.
The emission reduction change requires a major network update (aka “hard fork”), which will be scheduled for block 176,000 (September 17, 2018). The major network update means that each GRAFT network node must be updated to the new software version before that block/date. Otherwise, the node that wasn’t updated is going to be on the wrong version of the blockchain. The new release will be available for download on September 10, 2018.
As another reminder, a major network update means that if you are running the GRAFT network node (graftnoded daemon), you must upgrade it to the current software release as soon as possible. If you do not install the updated node before the block 176,000, it will be disconnected from the mainnet after block 176,000.
Note that the users of mobile and desktop wallets will not be affected by the upcoming major network update and don’t need to do anything—as long as they are still connected to the default proxy supernodes (if you are connected to your own supernode, however, do not forget to upgrade the underlying network node to stay on the right network).
When you take a look at whattomine, mining GRAFT is as profitable as mining Monero. At first glance, this seems like a good situation for everyone who cares about GRAFT, especially for the miners. But let’s compare Monero and GRAFT market capitalization (the dollar price of one GRFT multiplied by the number of tokens in current circulation): $1.68 billion (Monero) vs. $3.76 million (GRAFT). There is a huge difference between these two market caps, but they have the same mining profitability (actually GRAFT is even better).
The current GRAFT block reward (the proof-of-work fee that the miners receive when they “solve” the block and successfully add it to the blockchain) today is approximately 1,420 GRFT, so every day the GRAFT circulation grows by more than 1 million (!) GRFT. Unfortunately, many miners abuse the high profitability of GRAFT and immediately dump their mining rewards on exchanges, which keeps the price down as the demand cannot cope with such a rapidly growing supply. Even growing demand cannot catch up to the emission rate because the project is too young. In order to stabilize the price of GRAFT (not to mention any growth), we need emissions to match demand, i.e. more people have to join the community and buy at least 1 million GRAFT every day. This is not a simple task for a blockchain that is 7 months old.
Although the block reward is designed to decrease with every block, the current rate by which emissions are decreasing is not significant enough to counteract the overall supply increase rate from miners dumping. It will be significantly lower in, let’s say, one or two years, but the GRAFT team and supporters—including miners—cannot wait that long. We all need the price to stabilize and even increase in order to make GRAFT successful right now.
Note that ERC20 token-based projects do not have the problem described above because they don’t have a real blockchain. Their token supply remains the same (actually, it is even reduced with every exchange transaction), so they just need to make sure their demand at least remains the same in order to constantly pump the price and the market cap.
With that said, in order to increase the value of existing GRAFT tokens, we decided to correct the emission by reducing the block reward by 50%, so the new block reward formula will be as following:
reward = (M – A) * 2^-19 * 10^-10 / 2
Where M is max total supply and A is current supply.
As you can see, the correction will not change the total maximum amount of GRAFT that will be ever created, it will just stretch the emission curve such that it will take longer to mine the total supply (see the existing and the new emission curves on the diagrams below).
All GRAFT supporters should benefit from the corrected emission formula because it is supposed to limit the daily increase in circulating supply, which will reduce the overall supply growth rate and stabilize the price. Long-term miners will benefit from the reduced emission for two reasons: 1) the price will go up so they will receive the same, or even better, revenue, and 2) the emission curve will be stretch, so they will get a more steady income over the extra years without the need to rely on transaction fees.
The emission reduction change requires a major network update (aka “hard fork”), which will be scheduled for block 176,000 (September 17, 2018). The major network update means that each GRAFT network node must be updated to the new software version before that block/date. Otherwise, the node that wasn’t updated is going to be on the wrong version of the blockchain. The new release will be available for download on September 10, 2018.
As another reminder, a major network update means that if you are running the GRAFT network node (graftnoded daemon), you must upgrade it to the current software release as soon as possible. If you do not install the updated node before the block 176,000, it will be disconnected from the mainnet after block 176,000.
Note that the users of mobile and desktop wallets will not be affected by the upcoming major network update and don’t need to do anything—as long as they are still connected to the default proxy supernodes (if you are connected to your own supernode, however, do not forget to upgrade the underlying network node to stay on the right network).
All Things Graft - How Graft Is Like Visa/MC/Amex
https://www.youtube.com/watch?v=oWK09X8OhHw&feature=youtu.be
https://www.youtube.com/watch?v=oWK09X8OhHw&feature=youtu.be
I tried to buy more before everyone else, pumped price a bit and then got dumped on by miners I'm guessing. That interview needed a little bit more energy. Got better as the interview went on though
As a miner and buyer of Graft I prefer not to have the airdrop, nice call !
Now we all need to know what will happen to the coins? Will they get burned? Will they keep locked? Will they be dumped?
Anyone can answer these simple questions?
If the coins won't be airdroped, what use will they have??
Anyone here from official sources??
Can these questions be answered?
The tokens for the airdrop was intended to be funded from the DEV`s reserve token pool.
As these tokens will not be used for airdrop they will remain in the reserve pool.
Thanks
Hello Team,
Let me start off by saying thank you for not going through with the airdrop! Although it was mere pressure from the community on the coin's price that made you rethink your plan of action, you still get a thank you. To me, you are not being proactive, rather reactive to to the market's fluctuation and GRFT's visit to the sub-penny territory.
Furthermore, I have never heard of the term "DEV`s reserve token pool" ? Is this something you reserved for yourselves and structured it in the ICO from the get go? (No record of this to be found anywhere). Or, are you referring to the remaining unsold ICO coins as "DEV`s reserve token pool"? The community was loud and clear in voicing, numerous times and from many different members, that the remaining unsold ICO coins should be burnt as every project before you did. Your silence and (play it by ear) motto is not going to get you far as most would consider it shady at best!
They say Trust is like a castle of sand, so hard to build and so easy to destroy! Take this quote for what its worth and please do the right thing and burn the remaining coins.
Regards,
Miner
The info you seek in in the about page on the website (About half way through , look for coin distribution )
https://www.graft.network/about/
Ok thanks for the info, I see that there is no specific destination for the coins at the moment.
But in the page you mention, one can read: "...In the spirit of transparency, we’re making the wallet visible to community", but the links have no information
As a miner and buyer of Graft I prefer not to have the airdrop, nice call !
Now we all need to know what will happen to the coins? Will they get burned? Will they keep locked? Will they be dumped?
Anyone can answer these simple questions?
If the coins won't be airdroped, what use will they have??
Anyone here from official sources??
Can these questions be answered?
The tokens for the airdrop was intended to be funded from the DEV`s reserve token pool.
As these tokens will not be used for airdrop they will remain in the reserve pool.
Thanks
Hello Team,
Let me start off by saying thank you for not going through with the airdrop! Although it was mere pressure from the community on the coin's price that made you rethink your plan of action, you still get a thank you. To me, you are not being proactive, rather reactive to to the market's fluctuation and GRFT's visit to the sub-penny territory.
Furthermore, I have never heard of the term "DEV`s reserve token pool" ? Is this something you reserved for yourselves and structured it in the ICO from the get go? (No record of this to be found anywhere). Or, are you referring to the remaining unsold ICO coins as "DEV`s reserve token pool"? The community was loud and clear in voicing, numerous times and from many different members, that the remaining unsold ICO coins should be burnt as every project before you did. Your silence and (play it by ear) motto is not going to get you far as most would consider it shady at best!
They say Trust is like a castle of sand, so hard to build and so easy to destroy! Take this quote for what its worth and please do the right thing and burn the remaining coins.
Regards,
Miner
The info you seek in in the about page on the website (About half way through , look for coin distribution )
https://www.graft.network/about/
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