Topic: Re: [ANN] [ EdisonX3 ] First Historical Crypto Currency »»»» LIVE - DIFF: 834.00 - page 10. (Read 20508 times)
March 04, 2014, 06:36:25 PM
March 02, 2014, 04:20:12 AM
You seem to have forgotten the most fundamental thing abot all this.
Nobody wants to wait 30 minutes to get their transactions confirmed buying their morning coffee in starbucks.
Even with btc sometimes confirmation hangs for more than a block even after paying transaction fees.
Everybody assume btc is gold, so 10 mintue wait is reasonable.
To wait 30 minute it has to be synonymous with diamond maybe
Nobody wants to wait 30 minutes to get their transactions confirmed buying their morning coffee in starbucks.
Even with btc sometimes confirmation hangs for more than a block even after paying transaction fees.
Everybody assume btc is gold, so 10 mintue wait is reasonable.
To wait 30 minute it has to be synonymous with diamond maybe
The team is glad you mentioned this because we have not forgotten about the fundamentals at all.
I am going to think in the shoes of any consumer currently in the crypto industry and for those who are joining in for the first time because of EdisonX3. Remember, we are bringing in our own communities into the industry. So I'll ask the question, and I'll answer it without being bias about my answers. This is just a simple opinion, not an official statement.
Q1) Do I want to wait 30 minutes for confirmation?
Answer to Q1) No, who likes to wait to validate funds, no one.
Q2) Is it a good idea to have confirmations faster than usual if it protects me with security flaws/issues?
Answer to Q2) Yes, if the solution presented solved the major problems faced by Bitcoin
Q3) Would I agree that speed is more important in any transaction?
Answer to Q3) Yes, because you can validate a successful transfer (peace of mind)
Q4) The key question- Should I settle for faster speed (1-5 minutes confirmation) or would I prefer waiting longer for long-term stability and security?
Answer to Q4) I wouldn't want to settle for anything, even if it meant it was faster. If there was a solution of a happy medium of security, stability, and speed.
I would like to take this concept on, and get the 'happy medium' strategy implemented on EdisonX3 (if we can keep this a 1,000 year old coin).
This is where we are asking you to contribute because EdisonX3 is still in development with some other features, and we can still implement a fast confirmation.
Remember, this will be a 1,000 year coin. So the reason behind the 30 minute block time was due to the long-term security and stability option.
However, if anyone has a suggestion to modify this coin in similar nature to the level of 1-5 minutes confirmation as well as protect its network against 51% attacks/DDOS/Malleability issues, then let's discuss a few options.
Again, we are completely transparent about this, and want the community to get involved as we progress in development. I can see how suggestions so far have a good tone of voice for the sake of improving EdisonX3 for its launch, so we all can benefit from this.
March 02, 2014, 03:50:00 AM
You seem to have forgotten the most fundamental thing abot all this.
Nobody wants to wait 30 minutes to get their transactions confirmed buying their morning coffee in starbucks.
Even with btc sometimes confirmation hangs for more than a block even after paying transaction fees.
Everybody assume btc is gold, so 10 mintue wait is reasonable.
To wait 30 minute it has to be synonymous with diamond maybe
Nobody wants to wait 30 minutes to get their transactions confirmed buying their morning coffee in starbucks.
Even with btc sometimes confirmation hangs for more than a block even after paying transaction fees.
Everybody assume btc is gold, so 10 mintue wait is reasonable.
To wait 30 minute it has to be synonymous with diamond maybe
March 02, 2014, 02:57:23 AM
[**NEW**] INNER THREAD BONUS GIVEAWAY - POST ABOUT THOMAS EDISON, ANYTHING!
Post in this thread with your choice of an IMAGE, ARTICLE, or VIDEO related to Thomas Edison to receive up to 10 Coins once EdisonX3 launches.
All you have to do is Post one time, and at launch, link back to your post with your EdisonX3 Address to receive up to 10 Coins for your contribution.
Rule for Contest: Each user will be credited once per post, per content.
You can make as many posts as you want, but only your top 3 posts will qualify for up to "10 EdisonX3 Coins".
EXAMPLE #1 - Articles or link backs:
Article Post should look similar in Example (Posting a quote or snippet from article is up to you, please link back)
Thomas Edison Wikipedia:
Source of article: http://en.wikipedia.org/wiki/Thomas_Edison
"Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."[92]
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.[92]"
Source: http://en.wikipedia.org/wiki/Thomas_Edison
EXAMPLE #2 - Image Posting Should Look like this:
EXAMPLE #3 - Video Link Back should look like this:
Title: The History of Thomas Edison - a Short Story
https://www.youtube.com/watch?v=ZlxVDdBtFQQ
Post in this thread with your choice of an IMAGE, ARTICLE, or VIDEO related to Thomas Edison to receive up to 10 Coins once EdisonX3 launches.
All you have to do is Post one time, and at launch, link back to your post with your EdisonX3 Address to receive up to 10 Coins for your contribution.
Rule for Contest: Each user will be credited once per post, per content.
You can make as many posts as you want, but only your top 3 posts will qualify for up to "10 EdisonX3 Coins".
EXAMPLE #1 - Articles or link backs:
Article Post should look similar in Example (Posting a quote or snippet from article is up to you, please link back)
Thomas Edison Wikipedia:
Source of article: http://en.wikipedia.org/wiki/Thomas_Edison
"Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."[92]
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.[92]"
Source: http://en.wikipedia.org/wiki/Thomas_Edison
EXAMPLE #2 - Image Posting Should Look like this:
EXAMPLE #3 - Video Link Back should look like this:
Title: The History of Thomas Edison - a Short Story
https://www.youtube.com/watch?v=ZlxVDdBtFQQ
March 02, 2014, 02:09:28 AM
This coin is dead, the transactions take too long to confirm (30 mins)
Not dead, you just found a reason to talk yourself out of something.. This coin will be 1000 years old,
Everyone said the same thing about BTC and LTC. we want it to be 30 minutes because it will only secure its network and its users.
You can still see the balance show up, but confirmations do take a long time. Speed is everything to a certain degree.
Fiat could take up to 3-5 business days to process direct deposits, automatic payments, depending on the processing institution.
EdisonX3 vs FIAT is much more secure instead of the middle man holding your
funds, and who knows what they used the funds for during that holding period.
EdisonX3 will be compared to fiat. Yes, more on this as we progress
30 minute block times will kill this coin.
A pool with 10% of network can expect to solve one block every 300 minutes.
Can you see many people being happy to wait 5 hours for a block to show in their pool, if the're lucky.
If the pool is unlucky, and there's no blocks found in 10+ hours, people will bail from the pool with nothing to show for 10 hours mining, and will not be happy with the coin in general.
Now consider a smaller pool, say 2%. How many people will wait for more than 24 hours to see a return on their hashpower?
When do you bail from the pool, after 2-3 days?
I foresee one or maybe 2 pools surviving more than a couple weeks. Not exactly a recipe for a healthy network.
This is up for discussions now because you brought up a few good points; the negative though- Bitcoin is not the safest coin yet, and we all know this. Yes, aside from Block time, we have been working on some new code that should help keep the network and its users more secure, however, we are open to hearing what others have to say about Block Times @ https://bitcointalksearch.org/topic/edisonx3-block-time-discussion-you-vote-you-decide-development-in-progress-493518
We look forward to all your feedbacks in that thread
So I have a few questions -
1/. Why even allow transaction malleability? I personally have never had any need for changing the TXID of any trxns I have made. Is there a legitimate use for it?
2/. If it is necessary to have trx malleability, then why not make longer confirmation times (ie 10+ times normal) for only those transactions whose TXID has changed from the original (ie conditional treatment of non-standard trxns) ?
3/. Plus why would you not restrict the ability to change a TXID to the source wallet?
4/. Plus, wouldn't additional confirmation blocks be a better solution, than longer blocktimes?
Extending the blocktime seems like the easy solution, and not exactly addressing the root cause of the problem.
But iunno, I'm certainly no expert, just saying
I am curious to find out some answers to these as well. I think the solution at hand by EdisonX3 was the reference to a complete bypass of the situation. I am not sure about confirmation time, but I am assuming it is very similar. I know many coins today that use the immature state system where we have to wait 1-2-3 days until coins have 'matured' which is almost the same thing as waiting 30 minutes for a block time. This is not my area either MCCPool but I see where they are going with this.
This is why we started a discussion in this thread for users to vote: https://bitcointalksearch.org/topic/edisonx3-block-time-discussion-you-vote-you-decide-development-in-progress-493518
Hm, so far, the community does agree to the 30 Minute Block Time Decision due to the Malleability Transaction issues of Bitcoin. In the future, we do have plans to solve this issue with a more clean functionality, but Anonz is correct, we are simply bypassing the Bitcoin Problems by making block time longer- in the efforts to prevent double spending, or exchanges having issues with a specific coin. I've been in discussions with quite a bit of exchanges, and most agree the Block Time of 30 Minutes is fine, and is more secure.
You do have a voice to vote for our development features... We are still a few days out from launch- discuss it here: https://bitcointalksearch.org/topic/edisonx3-block-time-discussion-you-vote-you-decide-development-in-progress-493518
However, we are considering a new way to make users on pool more happy if we can help with the speed of confirmation times.
GREAT NEWS EVERYONE... NEW BONUS IS AVAILABLE.
READ OP BELOW AND POST BELOW ABOUT COINS BEING AVAILABLE FOR CONTRIBUTORS EARLY ON.
March 02, 2014, 01:38:24 AM
This coin is dead, the transactions take too long to confirm (30 mins)
Not dead, you just found a reason to talk yourself out of something.. This coin will be 1000 years old,
Everyone said the same thing about BTC and LTC. we want it to be 30 minutes because it will only secure its network and its users.
You can still see the balance show up, but confirmations do take a long time. Speed is everything to a certain degree.
Fiat could take up to 3-5 business days to process direct deposits, automatic payments, depending on the processing institution.
EdisonX3 vs FIAT is much more secure instead of the middle man holding your
funds, and who knows what they used the funds for during that holding period.
EdisonX3 will be compared to fiat. Yes, more on this as we progress
30 minute block times will kill this coin.
A pool with 10% of network can expect to solve one block every 300 minutes.
Can you see many people being happy to wait 5 hours for a block to show in their pool, if the're lucky.
If the pool is unlucky, and there's no blocks found in 10+ hours, people will bail from the pool with nothing to show for 10 hours mining, and will not be happy with the coin in general.
Now consider a smaller pool, say 2%. How many people will wait for more than 24 hours to see a return on their hashpower?
When do you bail from the pool, after 2-3 days?
I foresee one or maybe 2 pools surviving more than a couple weeks. Not exactly a recipe for a healthy network.
This is up for discussions now because you brought up a few good points; the negative though- Bitcoin is not the safest coin yet, and we all know this. Yes, aside from Block time, we have been working on some new code that should help keep the network and its users more secure, however, we are open to hearing what others have to say about Block Times @ https://bitcointalksearch.org/topic/edisonx3-block-time-discussion-you-vote-you-decide-development-in-progress-493518
We look forward to all your feedbacks in that thread
So I have a few questions -
1/. Why even allow transaction malleability? I personally have never had any need for changing the TXID of any trxns I have made. Is there a legitimate use for it?
2/. If it is necessary to have trx malleability, then why not make longer confirmation times (ie 10+ times normal) for only those transactions whose TXID has changed from the original (ie conditional treatment of non-standard trxns) ?
3/. Plus why would you not restrict the ability to change a TXID to the source wallet?
4/. Plus, wouldn't additional confirmation blocks be a better solution, than longer blocktimes?
Extending the blocktime seems like the easy solution, and not exactly addressing the root cause of the problem.
But iunno, I'm certainly no expert, just saying
I am curious to find out some answers to these as well. I think the solution at hand by EdisonX3 was the reference to a complete bypass of the situation. I am not sure about confirmation time, but I am assuming it is very similar. I know many coins today that use the immature state system where we have to wait 1-2-3 days until coins have 'matured' which is almost the same thing as waiting 30 minutes for a block time. This is not my area either MCCPool but I see where they are going with this.
March 01, 2014, 01:57:13 AM
This coin is dead, the transactions take too long to confirm (30 mins)
Not dead, you just found a reason to talk yourself out of something.. This coin will be 1000 years old,
Everyone said the same thing about BTC and LTC. we want it to be 30 minutes because it will only secure its network and its users.
You can still see the balance show up, but confirmations do take a long time. Speed is everything to a certain degree.
Fiat could take up to 3-5 business days to process direct deposits, automatic payments, depending on the processing institution.
EdisonX3 vs FIAT is much more secure instead of the middle man holding your
funds, and who knows what they used the funds for during that holding period.
EdisonX3 will be compared to fiat. Yes, more on this as we progress
30 minute block times will kill this coin.
A pool with 10% of network can expect to solve one block every 300 minutes.
Can you see many people being happy to wait 5 hours for a block to show in their pool, if the're lucky.
If the pool is unlucky, and there's no blocks found in 10+ hours, people will bail from the pool with nothing to show for 10 hours mining, and will not be happy with the coin in general.
Now consider a smaller pool, say 2%. How many people will wait for more than 24 hours to see a return on their hashpower?
When do you bail from the pool, after 2-3 days?
I foresee one or maybe 2 pools surviving more than a couple weeks. Not exactly a recipe for a healthy network.
This is up for discussions now because you brought up a few good points; the negative though- Bitcoin is not the safest coin yet, and we all know this. Yes, aside from Block time, we have been working on some new code that should help keep the network and its users more secure, however, we are open to hearing what others have to say about Block Times @ https://bitcointalksearch.org/topic/edisonx3-block-time-discussion-you-vote-you-decide-development-in-progress-493518
We look forward to all your feedbacks in that thread
March 01, 2014, 01:02:53 AM
Why is EdisonX3 more secure than Bitcoin? Here is a comparison of EdisonX3 Technology vs Bitcoin Technology.
EdisonX3
Secured via new coded technology: "Edison Carbon Filament"
• 30 Minute Block Time
• Difficulty Changes every block (every 30 minutes)
• Block rewards diminishes over time
• Decreases Block Reward every month by 10% for the first two years
Bitcoin
Security Functions:
• 10 Minutes
• Difficulty of the Block changes every 10~ days
• 51% attack is still a risk for BTC and still very possible.
EdisonX3
Secured via new coded technology: "Edison Carbon Filament"
• 30 Minute Block Time
• Difficulty Changes every block (every 30 minutes)
• Block rewards diminishes over time
• Decreases Block Reward every month by 10% for the first two years
Bitcoin
Security Functions:
• 10 Minutes
• Difficulty of the Block changes every 10~ days
• 51% attack is still a risk for BTC and still very possible.
Can't understand how EdisonX3 is protected from 51% attack if it's PoW coin?
February 28, 2014, 11:21:34 PM
hmmm....this is the beginning of marketing into crypto....hoping not a lot of crypto affiliate scheme spams from the signup....although i was not "approved"
My fault, I didn't think that domain name was really submitted by the owner. Glad you spoke up about this, inviting you in now.
Are others doing the same thing? I haven't noticed but we don't really need your email other than keeping you updated for launch and invitation to the forums.
EDIT: sent an invite to you TrafficLearn and updated everyone else who was waiting for a while. Please confirm you got the invite.
I got the the invite...i will check it out....i do know there is a TESLAX3 to follow this....so i want to see how it all shakes out
Hold up a minute. Someone created TeslaX3 ..? Where is this?
https://bitcointalksearch.org/topic/locked-official-new-launch-link-at-the-top-491900
February 28, 2014, 10:28:28 PM
February 28, 2014, 10:04:50 PM
they probably stole the tesla code...lmaol 
February 28, 2014, 10:00:02 PM
This coin is dead, the transactions take too long to confirm (30 mins)
Not dead, you just found a reason to talk yourself out of something.. This coin will be 1000 years old,
Everyone said the same thing about BTC and LTC. we want it to be 30 minutes because it will only secure its network and its users.
You can still see the balance show up, but confirmations do take a long time. Speed is everything to a certain degree.
Fiat could take up to 3-5 business days to process direct deposits, automatic payments, depending on the processing institution.
EdisonX3 vs FIAT is much more secure instead of the middle man holding your
funds, and who knows what they used the funds for during that holding period.
EdisonX3 will be compared to fiat. Yes, more on this as we progress
February 28, 2014, 09:52:22 PM
No premine ??
To answer all your questions, we are thinking an abnormal number for premine (still in the works) but somewhere that the entire
crypto industry has not ever seen. This might be announced with the smallest premine ever to date in the Crypto Industry. Stay tuned for updates!
Premine 0,01% or less, otherwise it is not going to be good enough
+1
We could stimulate the economy with really any amount, we aren't after any heavy premining.
The goal is to have a fair launch so everyone can benefit. This is good for everyone's sake.
February 28, 2014, 09:46:17 PM
No premine ??
To answer all your questions, we are thinking an abnormal number for premine (still in the works) but somewhere that the entire
crypto industry has not ever seen. This might be announced with the smallest premine ever to date in the Crypto Industry. Stay tuned for updates!
Premine 0,01% or less, otherwise it is not going to be good enough
+1
February 28, 2014, 09:23:35 PM
hmmm....this is the beginning of marketing into crypto....hoping not a lot of crypto affiliate scheme spams from the signup....although i was not "approved"
My fault, I didn't think that domain name was really submitted by the owner. Glad you spoke up about this, inviting you in now.
Are others doing the same thing? I haven't noticed but we don't really need your email other than keeping you updated for launch and invitation to the forums.
EDIT: sent an invite to you TrafficLearn and updated everyone else who was waiting for a while. Please confirm you got the invite.
I got the the invite...i will check it out....i do know there is a TESLAX3 to follow this....so i want to see how it all shakes out
Hold up a minute. Someone created TeslaX3 ..? Where is this?
February 28, 2014, 08:48:13 PM
This coin is dead, the transactions take too long to confirm (30 mins)
February 28, 2014, 08:45:24 PM
hmmm....this is the beginning of marketing into crypto....hoping not a lot of crypto affiliate scheme spams from the signup....although i was not "approved"
My fault, I didn't think that domain name was really submitted by the owner. Glad you spoke up about this, inviting you in now.
Are others doing the same thing? I haven't noticed but we don't really need your email other than keeping you updated for launch and invitation to the forums.
EDIT: sent an invite to you TrafficLearn and updated everyone else who was waiting for a while. Please confirm you got the invite.
I got the the invite...i will check it out....i do know there is a TESLAX3 to follow this....so i want to see how it all shakes out
February 28, 2014, 08:40:27 PM
No premine ??
To answer all your questions, we are thinking an abnormal number for premine (still in the works) but somewhere that the entire
crypto industry has not ever seen. This might be announced with the smallest premine ever to date in the Crypto Industry. Stay tuned for updates!
Premine 0,01% or less, otherwise it is not going to be good enough
February 28, 2014, 08:36:08 PM
hmmm....this is the beginning of marketing into crypto....hoping not a lot of crypto affiliate scheme spams from the signup....although i was not "approved"
My fault, I didn't think that domain name was really submitted by the owner. Glad you spoke up about this, inviting you in now.
Are others doing the same thing? I haven't noticed but we don't really need your email other than keeping you updated for launch and invitation to the forums.
EDIT: sent an invite to you TrafficLearn and updated everyone else who was waiting for a while. Please confirm you got the invite.
February 28, 2014, 08:14:21 PM
hmmm....this is the beginning of marketing into crypto....hoping not a lot of crypto affiliate scheme spams from the signup....although i was not "approved"
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