Topic: GRAFT - Universal Payment Processing Network - page 34. (Read 84390 times)

I hope this idea increase well and excellent.
Acquainted approach, impeccable website, really good design.

hope so 

Soon in Cryptopia. News in on twister already.

There's no hurry, just hold on and get some more graft, with time and development, good news will come

Good job,

When you will in other exchanges?

Graft is not affected by cryptoNote double counting bug

https://twitter.com/slavagomzin/status/1014945365509005314

Very interesting sum up. On the one hand I am happy that the team stands to their word and will commit the airdrop if necessary even though I never heard about that before. On the other hand it might not help the project in any way since the airdropped coins may just be dumped on the market since there is a lot of frustration. I hope that the team has some good news and some announcements coming till the date of the airdrop putting the whole topic to sleep easily. That would be the best for everyone interested in the project

To be quite honest, I think the ASIC explanation is a load of shit. The issue is the emission curve. Any explanation of the price discrepancy between ICO and market must consider emission curve, and I think the team know that.

Investing in an ICO presents risks, such as the coin being worth less than you paid. The airdrop is suspicious, and I suspect it is self-serving.

Edit: and it's not about the electricity or price of coins..of course some people will get coins cheaper than others. This issue is that the airdrop creates weird market incentives, it was some-what hidden for months, and its appears to be a poor business decision. Why not a coin burn? I understand the promise has been made, and the team is sticking to it..but it's so freaking stupid.  

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I am sure that the remaining ICO coins that are not involved with the airdrop could be burned. Besides this scenario, I would imagine that they are locked on general sale to the public for project costs at a price that is greater than the ICO price, thereby only further supporting the project. We are only getting more and more evidence daily that our Dev team are working hard to do things right.

Well you said it, miners do take risks mining a coin vs another as well as ICO investors also do take risk when they invest in an ICO. The team did not make this airdrop clear from the beginning, rather 2 weeks before the end of the ICO. By that time, miners were already 2 months in and $1000 down.
"You have made the classic mistake of trying to pay off equipment on a new coin"     aren't we all taking risks mining or ICO investing? Isn't true that both Miners and Investors are needed for the project to be successful? Then why rewarding some risk takers and not all risk takers?
PS when I mined XMR in 2014 it fully paid for my rig and way more. I was hoping that GRFT will have a similar success story but it seems not likely with the current course of Dev Team's action. Again this is only my opinion as a miner!

and the 500 usd  1500 dollar coins are worth  0.01520 each and calculate to equal=22.80 cents
and the 500 usd you spent in electricty in the first month to get around 15,000 at 0.01520 each calculate to equal =228 dollars ..

You lost around 500 to 228 usd.. ICO lost 500 usd to 22.80 cents....

Thats my point I feel its only fair to bring up the ICO investors from 3 cents to 30 cents brinign there 22.80 cents as close to 228 usd as possible.

Now as a miner the soul purpose is to mine and secure the network and as a reward you get a percentage of the printed coin and transaction fees.  While yes short term dumps are good for paying for electricity.
You have made the classic mistake of trying to pay off equipment on a new coin. Im sorry to hear that it doesnt cover the miner payments if you invested in hardware.  You should probably put a  few cards in your rig on something like Monera or something that pays out steadily income to meet your payments.  When mining its best to never expect ROI on new coins monthly. this actually leads to hard dumping from miners.

Things will change. They have said that they wouldnt do airdrop if it hits ICO price for 24 hours.  Basicly keep mining graft keep holding. It will go up 10 x easily in 6  months. all graft has to do is go up 6x and bitcoin 2x and in USD its went up to 30 cents. Now of course its meausred in BTC but the point is that you ROI is paid in USD im sure. 

You cant expect as a miner for a new coin like graft to pay for your rigs monthly ROI. Mine something like monero etc.

I totally see your reasoning but the math does not add up. Right now my 50000 coins are worth $760 USD and my rig have costed me $8000 that you didn't factor in the initial cost. Now, as a miner I am not getting an airdrop to cover my losses; rather my losses will become bigger as I believe the coin price will go down in value as the airdropped coins hit the exchanges. This is the only crypto I know of that is not burning the remaining ICO coins which explains my skepticism.
However, I am not trying to make it to be Miners Vs ICO Investors, I am talking about being Fair!

The way you are wording it is worded in such a way. Its basicly making it look like they have to choose between miners and and ICO Investors instead of allowing them to choose both.

ICO Investor spends 500 usd gets 1500 graft
You say you got 50k In earlier posts from mining for 6 months spending about 3 grand in electricty. If you spent that on graft during ICO you would have 9k graft.
I have no doubt you would be on the opposite side complaining.


If the ICO Investors had outright bought 50k graft they would have to have spent 50,000totalgraft/1500graftpurchase = (33.33purchasesx500usd) for a total of 16,667 usd

16,667 usd where you only spent 3k in electricty to mine 50k.

Now under normal circumstances I would say this was a risk to investors they chose to take.
However, ASICS hit at the same time Tradeogre NINJA LAUNCHED which means that  the ICO price of around 30 cents fell to 3 cents Literally off just a handful of trades!

This made the 500 usd of 1500 graft worth about  1500x0.03cents= 45 dollars....

So where you spend 500 dollars in one month and recieved probably the bulk of your 50k  at  least 1/6 of it..    those that spent 500 usd now have 45 dollars.... worht of graft...


So yes I see nothing wrong airdropping it back up to 500 USD from 45 USD worth of graft because they bought 500 USD worth of graft and the next day it was 45 usd.

Couple that with this.. what if they would have sold at ICO 3 cents to begin with  then 500 USD would have been provided the same amount of graft they have determined they will airdrop to bring up to ICO price anyway.  If they would have sold 500 usd at 3 cents each they would have recieved  16,666 graft instead of 1500 graft.  and we wouldnt be having this conversation right now!

Now lets throw those numbers into the network we have now at 20 megahash and a price 0.01518 USD each graft... then with 1 kilo hash the average price of v7 coins is

1. Citadel (Rp. 14924) ($1.07)
2. IntenseCoin (Rp. 14042) ($1.00)
3. Stellite (Rp. 13006) ($0.93)
4. Electrodump (Rp. 12908) ($0.92)
5. Graft (Rp. 12852) ($0.92)
6. MoneroV (Rp. 12670) ($0.91)
7. Monero (Rp. 12558) ($0.90)
8. Elya (Rp. 11298) ($0.81)


Which means graft is well within its price point for the network difficulty at current price. Which means if you were mining graft you didn't lose any money if you chose not to mine something else and continued on graft... as sometimes it was 1.07 other times 80 cents per kilohash per hour.

.

They were not wronged by graft but graft is making up for it. No one wants graft to succeed more then the GRAFT TEAM itself I think. They are hte ones who have the entire project to lose.. as of now you miners are way ahead of the ICO investors.. THE ICO INVESTORS made this project a reality. This team isnt just forking a coin they are making NEW CODE for RTA. Therefore alot of time seems to have been spent toward it.


The Point is that ICO INVESTORS  had 500 usd for 1500 graft for what equated at the time to 45 dollars.
Miners could spend 500 in electricity in January and get practically 10x that,
if you look at the math.. there fore bringing them from 3 cents to 30 cents.. is what 10x

IF the miners could spend 500 in electricity and get 15,000 graft the first month... why is it fair for the ICO investors to spend 500 and get 1500 Coins.. 3cents to 30 cents  

This allows for 500 in electircyt for 15,000 graft the first month to miners
Ico investors spend 500 and get 15,000 graft in ICO.

I get your concerns but as of now miners recieved far more graft then ICO investors in electricy costs vs ICO purchase
The math adds up.  

EVen still this doesnt factor in.... the fact that graft is gonna be closer to ICO price anyway in 3 months. So if they are 25 cents of 30 cents.. they are only gonna get a small amount. 
An airdrop is usually free coins. This isnt giving anything past the initial purchase price they paid in usd measured in BTC.

Basicly graft was saying had we known it was 3 cents we would have given 10x as much graft per 500 usd.. which would have made it equal to what the miners spending 500 in electricty made.  I have no doubt  you made at least 15k in the first month of mining out of the 50k you had.

https://www.graft.network/2018/06/28/graft-development-status-update-june-2018/


GRAFT DEVELOPMENT STATUS UPDATE JUNE 2018

Supernodes and Real Time Authorizations

Let’s start from implementation of full supernode, which is essentially an implementation of real-time authorizations (RTA). Although we are close to the finish line, we do not release it yet to public alpha. We need more time for optimization, fine-tuning, and QA testing. One of the main reasons for the delay is an issue with communication. Unlike other two-layer cryptocurrency networks which use a separate mechanism for communication between their second-layer nodes, we reuse the existing peer-to-peer network as a basic transport. Our original algorithm finds the shortest and fastest routes between the supernonodes by maintaining a set of P2P tunnels through the network of cryptonodes. The main difference and greatest benefit of using the same communication base for two layers (both cryptonode and supernode networks) is not exposing the authorization sample’s supernodes – because in our design they are not required to have a public IP. Such design is the major difference and significant improvement comparing to other layer two implementations such as Dash masternodes.

Remember that one of GRAFT’s key differentiators and goals is absolute privacy initially provided by underlying CryptoNote blockchain protocol, which is the first layer of GRAFT platform. The fact that the auth sample supernode does not require a public IP attached to it makes GRAFT even more private and decentralized, because the supernodes are less dependant on regulated hosting providers. Without public IP the supernodes are “hidden” behind the large, distributed, and complex P2P network, which makes them less vulnerable to DDOS attacks. At the same time, the hosting and maintenance are less complicated and less expensive for supernode owners. (Note that wallet/POS proxy supernodes, which typically belong to service providers and large merchants, still require public IP address in order to be able to serve wallets and POS/payment apps).

However, such great benefits do not come for free. Along the way we found several issues in existing CryptoNote/Monero P2P communication implementation, which we are fixing in order to make it more efficient, stable, and suitable transport for our purposes. With that said, we anticipate the public alpha of supernode with RTA to be released by the end of July. Meanwhile, we will start a private alpha release for testing in a coupe of weeks, so if you are interested in helping us with preliminary testing please contact us at [email protected].

While working hard on RTA implementation and getting ready to its production launch, we realized that hosting a supernode, either full (authorization) or proxy/gateway, requires a special DevOps skill set, so we are working through making arrangements and building relationships to provide turnkey solutions to supernode owners and merchant service providers.

Payment Apps

We are continuously working on improving the Verifone terminal app so it will be fully polished for production by the time RTA is released. As Verifone have written on their merchant marketplace website, where GRAFT app is listed as the Featured Apps Partner, “Our app partners are working around the clock to help empower our merchants with applications that enrich the customer experience and provide business productivity.” This is absolutely true statement, there is not much to add. Since the Verifone certification was achieved last month, we have done several improvements such as UI redesign (in both terminal app and our wallet), enhanced configuration utility for merchants, integration with CoinMarketCap for real-time exchange rates, and some bug fixes. Also, we are working on Ingenico terminal app integration into their marketplace.

One of important and promising features we are planning to develop is using NFC (Near Field Communication) for initial engagement between the mobile wallet and terminal app, so instead of scanning QR code displayed on payment terminal the buyer will just wave the phone (the same technology is used by contactless payment cards and Apple Pay). Implementation of such a feature will help improve both buyer and merchant user experiences and reduce the overall transaction time. We will keep you posted about our progress in this area.

We just finished design and now are ready to start implementation of the payment gateway which will facilitate GRAFT payments on online shopping platforms. Once implemented, integration with GRAFT payment gateway, among other features, will bring to online merchants and buyers a unique combination of absolute privacy and instant transaction confirmations (using RTA) – something they have never seen before. Plus, after we finish RTA and move to accept broker implementation, they will be able to accept various cryptocurrencies, while keeping the same benefits of privacy and transaction speed.

Wallet Apps

We finally redesigned the app downloads page on our website, so now it’s easier to find all our apps, including wallets, and their releases for various mobile and desktop operating systems: iOS, Android, Windows, Mac OS X, and Linux. In recent wallet releases, we fixed some bugs and added new configuration options. The upcoming wallet release will support purchases with real time authorizations using full supernodes (currently it supports a limited version of RTA on testnet only).

CryptoFind App

As our app for discovering and listing crypto-friendly merchants is gaining more popularity among crypto enthusiasts, we periodically release new features and bug fixes. In recent CryptoFind version, in addition to bug fixes, we added a possibility to take a picture of the GRAFT sticker on the merchant’s window so the users can earn better bonuses.

Happy Grafting!

Miner.

We appreciate your support and we had not intent to make you or anyone else feeling betrayed.
The team have committed to the airdrop  ( a few weeks from he end of ICO) .
Although the current airdrop terms might not in your personal favor we will follow through with our commitments to the community.

We will follow through with our commitment to ICO investors.

Bought in at 230 with this dip. The price increases a little bit since then.
Re read the white paper and website. I am more confident.
Projects that have transparent team will always go strong

Graft Team,

Please answer the above concerns, I would like to hear it from you first hand!

Regards,
Miner