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Ren's old crypto thread || we know how to buy this stuff now (1 Viewer)
- Thread starter ren hoek
- Start date
Peyton Marino
Footballguy
JerseyToughGuys
Tough Guy
I always ask the same question.
XYO has a decent explanation (tl;dr = they need people to use the devices for the network to function, so they incentivizing that use through tokens) on Page 6 of the White Paper:
https://docs.xyo.network/XYO-White-Paper.pd
6 XYO Token Economy
Oracles stand as a significant portion of the power and infrastructure needs for decentralized
applications, with most of the focus revolving around the connectivity and aggregation of
authoritative oracles. We believe that the need for a fully decentralized and trustless system
of oracles is needed for decentralized applications to reach their maximum potential.
6.1 XYO Network Cryptoeconomics
We use XYO Tokens to incentivize the desired behavior of providing accurate, reliable
location heuristics. XYO Tokens can be thought of as “gas” needed to interface with the
real world in order to verify the XY-coordinate of a specified object.
The process works like this: A token holder first queries the XYO Network with a query
(e.g. “Where is my eCommerce order package with XYO Address 0x123456789...?”). The query then gets sent into a queue, where it waits to be processed and answered. A user can set their desired confidence level and XYO gas price at query creation. The cost of a query (in XYO Tokens) is determined by the amount of data required to provide an answer to the
query as well as market dynamics. The more data needed, the more expensive the query
and higher the XYO gas price. Queries to the XYO Network have the potential to be very
large and expensive. For instance, a trucking and logistics company could query the XYO
Network to ask, “What is the location of every single car in our fleet?”
Once the XYO Token holder queries the XYO Network and pays the requested gas, all
Diviners working on the task call out to the relevant Archivists to retrieve the pertinent
data needed to answer the query. The data returned is derived from the Bridges, who
originally gathered the data from the Sentinels. Sentinels are essentially the devices or
signals that verify the location of objects. These include entities such as Bluetooth trackers,
GPS trackers, geo-location tracking built into IoT devices, satellite tracking technology, QR-
code scanners, RFID scanning and many others. XY Findables has pioneered and launched
its consumer Bluetooth and GPS business, which has allowed it to test and process real-
world location heuristic. All efforts in developing the XY Findables consumer business have
served to help significantly in designing the XYO Network Blockchain Protocol.
If the data provided by a Sentinel device (such as a Bluetooth Beacon) is used to answer
a query, then all four components involved in the transaction receive a portion of the XYO
gas paid by the token holder: the Diviner (who searched for the answer), the Archiver (who
stored the data), the Bridge (who transmitted the data) and the Sentinel (who recorded
the location data). The distribution of the gas between 3 of the 4 components of the XYO Network is always given in the same proportion. The exception is that of Diviners, whose involvement in the process of providing an answer is more extensive. Within each component, gas gets distributed evenly.
6.2 Rewards for Independence
Location-gathering devices are the atomic blocks of the network, and a single device may act
as one or more of the four components of the system. However, it would be rare, especially
in a large XYO Network, that devices would be more than two of these components. Fur-
thermore, a blockchain ledger that has more independent Proof of Origin will hold higher
regard, so there is a cryptoeconomic penalty for a device acting as multiple components.
6.3 Rewards for Stationarity Integrity
Sentinels in the XYO Network are assigned a stationarity coefficient for their quantity of
movement throughout their lifecycle. The less a Sentinel moves in a period of time, the more
its data can be trusted. Archivists keep track and analyze these stationarity coefficients when
considering which Sentinels to route queries to.
6.4 Incentivizing Token Usage
A system in which token holders are encouraged not to use their tokens creates a long-term
problem for the underlying economy. It creates an ecosystem with very scarce stores of
value and triggers a natural impulse to invent reasons for not using the token, instead of
boosting utility and liquidity.
The problem most cryptoeconomic incentives have is that the focus is placed too strongly
on the token miners (e.g. Sentinels, Bridges, Archivists, Diviners), and not at all on the
token users. The XYO Token takes both into account.
The XYO Token model incentivizes the miner to not just provide accurate data, but to
also know when to not provide data at all. The end user is rewarded to transact more when
network liquidity is low, compared to when network liquidity is high. Thus the ecosystem
of the XYO Token has the ability to remain well-balanced, fluid and robust.
Oracles stand as a significant portion of the power and infrastructure needs for decentralized
applications, with most of the focus revolving around the connectivity and aggregation of
authoritative oracles. We believe that the need for a fully decentralized and trustless system
of oracles is needed for decentralized applications to reach their maximum potential.
6.1 XYO Network Cryptoeconomics
We use XYO Tokens to incentivize the desired behavior of providing accurate, reliable
location heuristics. XYO Tokens can be thought of as “gas” needed to interface with the
real world in order to verify the XY-coordinate of a specified object.
The process works like this: A token holder first queries the XYO Network with a query
(e.g. “Where is my eCommerce order package with XYO Address 0x123456789...?”). The query then gets sent into a queue, where it waits to be processed and answered. A user can set their desired confidence level and XYO gas price at query creation. The cost of a query (in XYO Tokens) is determined by the amount of data required to provide an answer to the
query as well as market dynamics. The more data needed, the more expensive the query
and higher the XYO gas price. Queries to the XYO Network have the potential to be very
large and expensive. For instance, a trucking and logistics company could query the XYO
Network to ask, “What is the location of every single car in our fleet?”
Once the XYO Token holder queries the XYO Network and pays the requested gas, all
Diviners working on the task call out to the relevant Archivists to retrieve the pertinent
data needed to answer the query. The data returned is derived from the Bridges, who
originally gathered the data from the Sentinels. Sentinels are essentially the devices or
signals that verify the location of objects. These include entities such as Bluetooth trackers,
GPS trackers, geo-location tracking built into IoT devices, satellite tracking technology, QR-
code scanners, RFID scanning and many others. XY Findables has pioneered and launched
its consumer Bluetooth and GPS business, which has allowed it to test and process real-
world location heuristic. All efforts in developing the XY Findables consumer business have
served to help significantly in designing the XYO Network Blockchain Protocol.
If the data provided by a Sentinel device (such as a Bluetooth Beacon) is used to answer
a query, then all four components involved in the transaction receive a portion of the XYO
gas paid by the token holder: the Diviner (who searched for the answer), the Archiver (who
stored the data), the Bridge (who transmitted the data) and the Sentinel (who recorded
the location data). The distribution of the gas between 3 of the 4 components of the XYO Network is always given in the same proportion. The exception is that of Diviners, whose involvement in the process of providing an answer is more extensive. Within each component, gas gets distributed evenly.
6.2 Rewards for Independence
Location-gathering devices are the atomic blocks of the network, and a single device may act
as one or more of the four components of the system. However, it would be rare, especially
in a large XYO Network, that devices would be more than two of these components. Fur-
thermore, a blockchain ledger that has more independent Proof of Origin will hold higher
regard, so there is a cryptoeconomic penalty for a device acting as multiple components.
6.3 Rewards for Stationarity Integrity
Sentinels in the XYO Network are assigned a stationarity coefficient for their quantity of
movement throughout their lifecycle. The less a Sentinel moves in a period of time, the more
its data can be trusted. Archivists keep track and analyze these stationarity coefficients when
considering which Sentinels to route queries to.
6.4 Incentivizing Token Usage
A system in which token holders are encouraged not to use their tokens creates a long-term
problem for the underlying economy. It creates an ecosystem with very scarce stores of
value and triggers a natural impulse to invent reasons for not using the token, instead of
boosting utility and liquidity.
The problem most cryptoeconomic incentives have is that the focus is placed too strongly
on the token miners (e.g. Sentinels, Bridges, Archivists, Diviners), and not at all on the
token users. The XYO Token takes both into account.
The XYO Token model incentivizes the miner to not just provide accurate data, but to
also know when to not provide data at all. The end user is rewarded to transact more when
network liquidity is low, compared to when network liquidity is high. Thus the ecosystem
of the XYO Token has the ability to remain well-balanced, fluid and robust.
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JerseyToughGuys
Tough Guy
tZERO, as a "security token," is something different altogether. It will be issued in accordance with SEC regulations. It is a preferred stock "security token," and holders will be paid dividends. tZERO, using its token, is attempting to create a fully regulated "security token" trading platform. In a nutshell, they are attempting to mainstream ICOs.
Last edited by a moderator:
JerseyToughGuys
Tough Guy
Here's an article on security tokens (written by a tZERO business partner so buyer beware).
https://medium.com/@argongroup/8-important-things-to-know-about-security-tokens-token-regulation-3d548a1a6367
https://medium.com/@argongroup/8-important-things-to-know-about-security-tokens-token-regulation-3d548a1a6367
ren hoek
Footballguy
Don't mind us, just getting a NYSE
https://nytimes.com/2018/05/07/technology/bitcoin-new-york-stock-exchange.html
https://nytimes.com/2018/05/07/technology/bitcoin-new-york-stock-exchange.html
And?
All that is about is trading bitcoin. I think it’s far better than worrying about the stability of some of the exchanges that might be a little worrisome. That said why wouldn’t NYSE trade it? They get transaction fees like any other thing it trades on the exchange. This news says less to me about long term success than say bitcoin actually being used for real consumer transactions. Plenty of things on the NYSE have gone to zero value and it doesn’t affect them. They’ve got no skin in the game as an exchange. Just need to cover their costs with the fees and high volume trading pays the bills whether sky rocketing or plummeting.
ren hoek
Footballguy
What do you mean and? Because this opens up markets to retired millionaire boomers who don't know how to use a computer, but know how to tell their broker when he tells them "Look, these assets are extremely volatile and high-risk but they did produce 10,000% gains over the last few years" that they wouldn't mind putting 2% of their portfolio into crypto. This seems self-evident.
I think Bitcoin is an incredibly flawed project at this point but the fact it's being acknowledged by some of Wall Street's oldest institutions is a huge deal. It's another sign we will likely see massive institutional investment over the next few years.
I mean exactly that. I get what you are saying but that all centers around the whole concept that bitcoin is a bar of gold in digital form not the concept of a crypto currency that is actually used in any way. Those same boomers aren’t going to spend bitcoin in a store or online so it’s only true usage will be back and forth on an exchange.
ren hoek
Footballguy
They don't trade little chunks of gold either but somehow gold valuation has lasted for thousands of years. There's value in a digital, uncensorable international economy just like there is in physical gold markets.
ren hoek
Footballguy
ren hoek
Footballguy
https://www.reddit.com/r/ethtrader/comments/86ls1f/bat_is_now_an_apple_verified_virtual_currency/
BAT is now an Apple verified virtual currency, the first erc-20 token to do so.
BAT is now an Apple verified virtual currency, the first erc-20 token to do so.
Boy, this thread is fun.
I would love to hear the explanation on how it was good enough to FOMO into on the 4th , moonsuit on blasting off on the 12th and a ####coin 6 days later
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Worm
slimy ninja
hagmania
Footballguy
Sept that dude made zero ~ bought it at the absolute top (Jan 4) sold at the bottom right before a nice little pump ~ rekt.
Btw, BTC and ETH did much the same to many over the last several months if you fomo'd into it in December/January ~ does that qualify these as ####coins too?
There's a ton of ####coins on Cryptopia, and none of them will ever be listed on binance. To me, calling something a ####coin because you got rekt on it is weak sauce.
Btw, BTC and ETH did much the same to many over the last several months if you fomo'd into it in December/January ~ does that qualify these as ####coins too?
There's a ton of ####coins on Cryptopia, and none of them will ever be listed on binance. To me, calling something a ####coin because you got rekt on it is weak sauce.
fantasycurse42
Footballguy Jr.
Extending the olive branch as a friendly gesture, $450... This bet is basically locked in as a W from my side; you're the Cavaliers in game 4 late in the 4th quarter right now, save yourself $50.
lumpy19
Footballguy
Capella
Footballguy
ren hoek
Footballguy
ren hoek
Footballguy
ren hoek
Footballguy
Got an email from Uphold saying there was an announcement by an SEC rep at a crypto conference that Bitcoin and Ether would not be classified as securities.
https://i.imgur.com/g0Kpmr8.png
Not sure this news has really made the rounds just yet, but seems true if big.
https://i.imgur.com/g0Kpmr8.png
Not sure this news has really made the rounds just yet, but seems true if big.
lumpy19
Footballguy
Mario Kart
Footballguy
So, what is the story with crypto? Move what I have in Binance back to Coinbase and just stick with Ether or stay with XRP and BAT? I haven't looked at my stuff in 5 months so I'm simply wondering.
JerseyToughGuys
Tough Guy
Rhythmdoctor
Footballguy
I am holding my ETH, VEN & BNB. Will look to exit BAT for more ETH when the charts indicate the time is right. The big boys (BTC, ETH) will hit new highs again. It's a matter of when not if. I'm personally bracing for another year+ of this bear market but I also wouldn't be surprised if we moon shot by end of year either. Bottom line: this is the time to be accumulating BTC and ETH and whatever other coins you believe in. Me personally, VEN is the only other coin I want to hold other than BTC and ETH.Mario Kart said:
Frostillicus
Footballguy
JerseyToughGuys
Tough Guy
Starting to think ZIL is the real deal. Would not surprise me if it sees 10x gains by year's end.
ren hoek
Footballguy
Teyana
Footballguy
Johnny Rock
Footballguy
Long Ball Larry
Footballguy
JerseyToughGuys
Tough Guy
wen moon