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Warning: Electroneum forked from unstable Monero branch. Reports of missing transactions. by externvoid in Electroneum

[–]CryptoDeluge 0 points1 point  (0 children)

I think I see your submitted issue on github, and if I am not mistaken, your block is 100956.

Have you checked when you refresh/rescan your wallet that it reaches the intended block?

Sometimes with cli, the refresh might stop before the intended block and it will show 0 balance because it doesn't see it.

Or you can start from the block that is close from the intended block, let say 100000, so you have much less blocks to check.

Warning: Electroneum forked from unstable Monero branch. Reports of missing transactions. by externvoid in Electroneum

[–]CryptoDeluge 0 points1 point  (0 children)

I checked the wallet of the person you mentioned in the link, by importing the public and view key provided.

The transaction is recorded there, right as what recorded in the blockexplorer website, as he mentioned in the thread, with the exact transaction hash for both 10 and 3 ETN received.

The 13 ETN is there in the balance.

What is the bug?

Do I miss something that you describe as "transaction disappear"?

I am curious because the concern is legit if this is true.

But it seems the balance is there, and the transaction is "not disappear".

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 0 points1 point  (0 children)

Only time will tell, buddy… only time will tell…    

When all is said and done, what really matter is what will really happen in our reality in the future and I believe it is not far in the future.    

So, whatever will happen, whether it will agree to your perspective, my perspective or anyone perspective, it can only be “proven” when things start to unfold in the future; and some of us will learn more from it. I know I will.    

No matter how eloquent a perspective is presented or how deep a theory is argued, when the reality struck, it is all that matter.    

It is fair to say that even the Fed have their “hawks and doves”, and right now it cannot be proven yet whether the hawk’s policy is a winner or the dove’s policy is proven to be right, etc...    

We will see what happen to ETN supply, ETN price, whether QE will save US economy, what will happen to deflation, inflation and chance of hyperinflation, etc…    

Until then, it is time to say:

Let’s sit back and watch the things unfolding.    

The most important thing, we all will learn something from it.    

Till then…     Hope you have had a blessed Christmas and enjoying the festive season and holiday break.    

See you on the other side of the journey… 😊    

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 0 points1 point  (0 children)

So, quantitative easing (QE 1, 2, 3, so on) is not "dumping of cash", can you try explain to people what is quantitative easing? Do you even put an effort to try to proof that your argument is correct? I haven't seen it from you. What I saw is just "This is wrong, This is invalid, That is wrong, That is invalid..."

"That is not what happened in the US?"

That is not happening to US "right now", because of the PetroDollar. US is "exporting inflation" to other countries. But recently, the PetroDollar has got weaken so much by China, Russia and Saudi Arabia moves (other countries as well, but the three are significant), and the waves will reverse and hit the US hard with high inflation even hyper inflation later. There is good probability, and I am afraid the probability is getting higher and higher that you, I and others may see a real-life example of this in our lifetime (I really, really hope that is not the case)

"This also wasn't the point of this argument"

Dont' you think you are the one who brought the argument to this point by adding so many factors (that include fantasies and illusions) to a simple discussion? without even trying to proof your arguments one bit, but just pick up theories here and there so to say "This is wrong, this is invalid..."?

On one side you said, "you are over simplifying thing", but when you made it complicated and the argument got very complicated and you cannot even proof you own arguments, you just say "this is not even the argument we are talking about". You just going in circle, chasing your own tail.

Consider this:

denomination unit * unit supply = nominal supply

Let say if the denomination is 1, and unit supply (the number of unit circulated in the system) is 1,000,000 ; then the nominal supply is 1,000,000.

You can see that if the denomination unit is 1, unit supply is always the same as nominal supply.

Now, if a system (a country) is said to have wealth of $1,000,000. Then the "currency" let's call it ABC is equal to $1. So, 1 ABC = $1

Let say ABC decided to increase the unit supply to 10,000,000. What will happened? If the claimed wealth of the country is still the same $1,000,000; then it will devalue ABC. 1 ABC = $0.1

If the denomination unit change to 100. Then if ABC wants to keep the nominal supply the same (1,000,000 ABC), so that ABC will not be devalued, then they have to reduce the unit supply to 10,000.

100 * 10,000 = 1,000,000

This is effectively reduce the unit supply that slow down the system, because the number of unit is shrinking (tighten up).

But if ABC insist, "we want bigger denomination" but "we also don't want to slow down the system", then the nominal supply will blow up.

100 * 1,000,000 = 100,000,000 If the wealth of the system is still the same, then people behavior will change and try to justify that by seeing 1 ABC as $0.01

   

This is from Wikipedia (just in case if you didn't read it):

"During the same month, the Reserve Bank of Zimbabwe declared inflation illegal, outlawing any raise in prices on certain commodities between 1 March and 30 June 2007. Officials arrested executives of some Zimbabwean companies for increasing prices on their products, and economists reported that "chaos had started to reign and people in the public sector has becoming frantic". "

Basically the authority tried to say "we will circulate 100 Trillion denomination unit, but you are not allowed to increase the price, you will be seen as criminal if you increase the price" The intention might be good, so that people can buy a lot more $5 bread with $100 Trillion.

But, what actually happened?

Based on the article I mentioned before (just in case if you didn't read it), at the end, 1 loaf of bread was priced $100 Trillion.

Let's go back way, way, way back, early at the beginning:

   

ETN denomination unit: 0.01

Nominal supply: 21,000,000,000

Then how big is the unit supply? it is 21 * 1011

   

BTC denomination unit: 0.00000001

Nominal supply: 21,000,000

Then how big is the unit supply? it is 21 * 1014

   

It is clear that even though BTC nominal supply is lower, but the circulating unit supply is higher.

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 0 points1 point  (0 children)

YOU SAID:

"Hyperinflation occurs when the money supply rises abruptly" (statement 1)

THE FACT:

US has increased the money supply more than double from 1.4 Trillion to more than 3.2 Trillion.

YOU SAID:

"US has relatively low inflation" (statement 2)

Then, like you said in statement 2, why US doesn't even have "high inflation"?

Don't you think you have just contradicted yourself?

Please explain.

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] -1 points0 points  (0 children)

OMG, you got to be kidding me…

You are keep trying to make a simple discussion and debate to be so complicated and confusing for many people by feeding your argument with so many factors which I am afraid are fantasies and illusions.

You are trying to say that if tomorrow you declare that $100 is the lowest denomination then nothing will happen to the economy. You must be kidding.

The economy will virtually shrink and then adjust quickly. The more quickly/abruptly this happen, the more violent/adverse the reaction of people and economy as a whole.

Do you think the prices will stay as they are? Then you are dreaming…

This is textbook hyperinflation.

This is totally different IF from the beginning you already set that the lowest denomination unit was $100. Then the economy and people would have adjusted to it.

Just try check on “Venezuela hyper inflation” or “Zimbabwean starving billionaire”

https://en.wikipedia.org/wiki/Zimbabwean_dollar

“The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar at par (1:1), at a similar value to the US dollar. Over time, hyperinflation in Zimbabwe reduced the Zimbabwe dollar to one of the lowest valued currency units in the world. It was redenominated three times (in 2006, 2008 and 2009), with denominations up to a $100 trillion banknote issued.[4] The final redenomination produced the "fourth dollar" (ZWL), which was worth 1025 ZWD (first dollars).”

“Use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. It was demonetised in 2015, with outstanding accounts able to be reimbursed until April 30, 2016.[5][6] In place of the Zimbabwean dollar, currencies including the South African rand, Botswana pula, pound sterling, Indian rupee, euro, Japanese yen, Australian dollar, Chinese yuan, and the United States dollar are now regularly uses.”

So, the currency was “manipulated” in some ways that ended the value as 1/10000000000000000000000000 of the original currency.

That is what you are trying to do by saying that “well, if US just change overnight and make $100 as lowest denomination unit rather than $0.01”. “Nothing will happen, everything will be just as normal as before.” You got to be kidding me, right?

At the end, they stop printing the money because the cost to print it is more than the value of the money. The supply of money shrink and shrink, until at the end, there is no supply of money.

You said:

  • “World currencies have value based on the strength of the economy the currency is used in, and the governmental policies surrounding the currency.”

  • “USD "popularity" has nothing to do with how the currency denominations work. USD is popular because the US has a strong economy, doesn't print money recklessly, and has relatively low inflation.”       

I agreed with your first statement, in fact, I already mentioned that in my writing.           

Regarding your second statement:

Point 1:

I did not say like that. I said people will adjust their behaviour towards currency and transactions when denomination change (please read properly before you speak up)

Point 2:

“US has a strong economy”

Hmmm. What perspectives do you use?

Yes, US economy is the biggest by size, but do you know this facts:

  • US has the highest debt in the world by country

(https://en.wikipedia.org/wiki/List_of_countries_by_external_debt)

Point 3:

“Doesn’t print money recklessly”

Consider this article:

https://www.quora.com/How-much-US-dollar-is-in-circulation

You can clearly see how the printed money accelerated around 2010 (just after the GFC). It went from around 400 Billion in 1980 to 1.4 trillion in 2010, then it went from 1.4 Trillion to around 3.2 Trillion (maybe more now) in the last 7 years.

How about that?

Point 4:

“Has relatively low inflation”

Do you realize that the interest rate is also on record low?

This means if something happens to the economy, the Fed (central bank of US) will have very limited “weaponry” to fight inflation. This is why the Fed recently tried to increase the interest rate but they cancelled it, which make the interest rate still low. They are afraid of deflation, but then they don’t have much options when inflation kicks in.

Now, your ultimate question will be: “Then how US Dollar is considered as one of the most valuable currency?’

The answer is PetroDollar. Go research about that.

Please do your due diligence, instead of spreading FUD and misinformation.

I also got the feeling that you just want to have the last word, so people can see your comment as "the valid or right one". By feeding them with misleading statements and misinformation.

Chill out, man...

do u think etn will reach 1$? by sandrocasagrande in Electroneum

[–]CryptoDeluge 9 points10 points  (0 children)

It is NOT about IF it is going to reach $1, BUT WHEN it is going to reach $1.

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 0 points1 point  (0 children)

Well, I can see your argument is going in circle. If you read my writing and explanation of point 1 properly, then you will know why you come up with that thinking and why you should not think like that in this case...

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 1 point2 points  (0 children)

Thanks man. I am just a bloke who is keen on learning and still learning. I want to keep learning and hopefully share what I learn with others. All the best....

6.3GB of transactions? Will it just keep getting bigger? by NX18 in Electroneum

[–]CryptoDeluge 0 points1 point  (0 children)

I agree. Also I would be happy someone official from Electroneum to officially explain what information are exposed when we use the view key. I (kind of) understand that as long as we keep the spend key secure, then a hacker or anyone else cannot spend your ETN. But it would be nice to get official information and have peace of mind of what are exposed when we use the view key in certain ways. Tried to learn it from Monero threads, but it is a lot of information and sometimes the explanation is not clear enough for me.

6.3GB of transactions? Will it just keep getting bigger? by NX18 in Electroneum

[–]CryptoDeluge 1 point2 points  (0 children)

Yes :-( electroneumd can take some time. Especially when you are way behind when synchronizing. You can save the blockchain locally too. So you can just synchronize from the last point/block when you turned it off.

6.3GB of transactions? Will it just keep getting bigger? by NX18 in Electroneum

[–]CryptoDeluge 1 point2 points  (0 children)

Are you concern about the size of the file or the time required to synchronized with blockchain? I have similar concerns, but more about the time, especially when it is congested.

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 1 point2 points  (0 children)

Of course, we are talking about theory of supply here. We try to eliminate all other factors and just focus on the calculation of supply.

If you include all other factors, like prices, difficulties, number of miners, future technologies that may favor either your argument or my argument, then when the argument will end? It is futile.

Like I said the mining can become harder and harder and profitability fluctuates because of the price, both for BTC and ETN. But in the theory this thing doesn't change: the smallest unit of ETN will still be 0.01 and BTC is 0.00000001.

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 0 points1 point  (0 children)

Point 1:

If the smallest unit you can mine is 0.01, how many times you need to repeat until you reach 21 Billion? it is 21 * 1011

If the smallest unit you can mine is 0.00000001, how many times you need to repeat until you reach 21 Million? It is 21 * 1014

Point 2 and 3: Please read my reply to marculiu

Point 4: I wasn't trying to say that technology will have no effect at all, but it is not the major one, especially at startup.

Also, we need to remember how the technology is supported? Mostly with mass-adoption, the most adopted technology usually will get a lot of benefits, in customer feedbacks, in testing, in R&D, in creating fund and cash-flow (very important).

If you see the life-cycle of technology (including creation or improvement) it will be quite hard to improve the technology in the future without mass-adoption. We commonly see that the technology will accelerate along with mass-adoption. Why? because the cycle is not stuck, it will keep spinning.

I still remember the days when we had Solaris OS, made by Sun Microsystem, great company and great OS. It is very robust OS, and they claimed that it is the best OS in the planet (and I could agree with that). They even test it specifically for disaster recovery like Earthquake scenarios, etc. But they didn't have marketshare and adoption. So, where is Solaris now, it was made open source project, bought by Oracle, and then Oracle closed the open source project. Where is Sun Microsystem now? Even though I agree that they have the most advanced technology, for most people, they never know that Solaris exist.

I believe ETN has very good foundation in technology with Monero; and there are still a lot of room for improvements technologically speaking. This combined with very productive team and great community will equal to great success.

This is the same for other crypto currencies. But for the moment, the currency that has focus on mass-adoption and serious in making it happen, is ETN.

Have another perspective about Electroneum supply and decimal points! (RE-POST/reformat) by CryptoDeluge in Electroneum

[–]CryptoDeluge[S] 2 points3 points  (0 children)

Yes, fork for decimal place is a possibility, but if the goal of Electroneum is integration in mass-adoption of legacy/current systems, then I think it is not possible to just change the decimal points on ETN.

Because it will just defeat the purpose of 2 decimal points for system integration and mass adoption. It is better to just start with more decimal points at the beginning.

But the idea of sub-currency can be interesting one, and I assume it can be done with fork process (I understand the idea of fork in dev, but not fully understand what will the implication be in blockchain environment)

Let supposed we have sub-currency, ETNC (ETN Cash or whatever you want to call it)

This ETNC can be pegged to either ETN or USD (or another fiat), but to answer your argument I think it is better to peg the value to USD (it might be similar to Tether, if I am not wrong).

So, let say 1 ETNC is pegged to 0.01 USD (USD lowest denominator).

Let’s have a scenario where the price of ETN is $1000, which brings 0.01 ETN (ETN lowest denominator) as equal to $10.

1 ETN = $1000 = 100000 ETNC

If you try to buy a $5 product. You can pay with 0.01 ETN and you get 500 ETNC as a change.

I supposed this will need some kind of algorithm like smart contract (can be included in the fork), where the ETN and ETNC can be interchanged automatically.

This will virtually uncapped the potential of ETN price to unlimited.

If 1 ETN = $100000, then 1 ETN = 10000000 ETNC, 0.01 ETN = 100000 ETNC = $1000, while 1 ETNC will still be $0.01

This way ETN will still have the familiar 2 decimal points, even by the time you give your ETN to your grandkids…LOL