Is there anyone that knows a little more about how Ethereum works? Will the transactions that say "Unable to locate Transaction entry" maybe still go through or are they lost in the ether?
Your transaction is in the queue and will likely be there for a while.
The transactions that did go through are those that contributed heavily during the bug-fixing 'event' since they apparently got some kind of a pass that allowed them to guarantee participation. That was all published on the blog way in advance. I know people around here don't actually read up before investing which is what causes this mess.
All of the transactions that are being rejected have faulty instructions in them. The majority have more than 50 Gwei as their gas price (somehow basically everyone uses 57 Gwei which is too much). Others use less than 200000 gas which causes their TX's to run out of gas during the contract execution.
All of these faulty transactions are simply choking the network which is why no that set the right parameters is able to contribute. (50 Gwei and 200000 gas)
TLDR: If people actually knew what they were doing we wouldn't be in such a mess every time an ICO happens.
People read up before you invest for once.. https://blog.status.im/status-network-token-issuance-ad877b79a10
You honestly think that the 14000+ people that have gotten screwed so far by this ICO did not do that? Most of them did EXACTLY what they were supposed to do and only 82 ETH addresses have gotten through. The reason for this is what you need to be posting. Why have 82 ETH addresses been able to invest $40,000,000 and the rest of us been screwed so far? Can you answer that for me?
The answer is in the blogpost that I just linked..
I'm not affiliated with Status in any way but the cause of the problems with the network at the moment is pretty easy to see.
Come on, that blog post is bullshit:
"The ceilings are designed to present hurdles for larger unknown ‘Whales’, while at the same time favouring smaller contributors and providing a more even grounds for token allocation than has been seen in previous token launches. More detailed information about how the dynamic ceilings will work can be found here."
Only 82 Eth adresses got all the tokens. It seems they presented hurdles "for larger unknown ‘Whales’" but not to the known ones.
These are all the transactions (updated continuously) that did go through https://etherscan.io/address/0x55d34b686aa8c04921397c5807db9ecedba00a4c#internaltx.
The first 70 or so are by a few organizations that acted as a gateway for people that wanted to buy using fiat money and 1 or 2 organizations that pooled contributions and contacted Status.im.
The first 70 or so are by a few organizations that acted as a gateway for people that wanted to buy using fiat money and 1 or 2 organizations that pooled contributions and contacted Status.im.
So basically only insiders got in.
So you still haven't read the relevant parts yet.. I'll quote it for you :
Quote
As discussed in our Slack channel and in our previous post, our distribution partners BitcoinSussie and ICOage were both selected to help on board contributors in the community who are holding fiat. We’ve since had a number of gateways reach out, and this may prove to be an effective avenue to effectively cap the maximum contribution amount per participant. We’re expecting ~2,000 individual stakeholders via these allocations, each with their identities verified — and we’ll provide a summary after the Contribution Period
And furthermore:
Quote
Transaction Pooling
In an attempt to reduce the burden on the Ethereum network, our friends at imToken have hatched the plan to pool small transactions of their most-active users, and pool them into a single transaction, which will be white-listed by our smart contract (by removing 50 Gwei gas price restriction).
It is important to note that all of the previously mentioned distributions will will ignore the first ceiling of 30,000 ETH, and count only towards the final ceiling (or hard cap) .
Everyone who has participated, or will be participating at 2pm GMT today, receives the same rate of 10,000 SNT per 1 ETH as all other contributors.
In an attempt to reduce the burden on the Ethereum network, our friends at imToken have hatched the plan to pool small transactions of their most-active users, and pool them into a single transaction, which will be white-listed by our smart contract (by removing 50 Gwei gas price restriction).
It is important to note that all of the previously mentioned distributions will will ignore the first ceiling of 30,000 ETH, and count only towards the final ceiling (or hard cap) .
Everyone who has participated, or will be participating at 2pm GMT today, receives the same rate of 10,000 SNT per 1 ETH as all other contributors.
And in fact, as per https://etherscan.io/token/0x744d70fdbe2ba4cf95131626614a1763df805b9e there are now 196 unique adresses and this number is rising. Keep in mind that the big purchases were done by big groups of people (so lots of unique users.)
So only Chinese people and Fiat investors had a chance at this ICO?
