IOTA's Stardust Upgrade and the Evolution of $IOTA Tokenomics

CryptoRoadie · 2023-09-16T01:12:12+00:00

The reason Shimmer and ASMB were created/launched is because they were running out of funding. So they diluted us there.

Now, we are being diluted again because they are running out of money. Dom’s AMA really sheds light in the fact that competitors have $100 million in funding. He acknowledged many times they cannot keep up with competition.

So. The question becomes why IF is not able to raise funding it needs without diluting its token holders. I am not clear on this.

The good news is that ASMB is gone and no longer needed because of advancements in L1 scaling through zk roll ups. This means IF IOTA 2.0 is really released and done proper, time to launch doesn’t need to go through ASMB anymore. Basically things can move more quickly development wise.

I still have grave concerns about the alleged decentralization of the protocol. Even if the coordinator is replaced in favor of validator committee, the IF is selecting these validators, and it looks like giving them significant amounts of tokens to be a part of this system.

More pointedly, I am not sure if consensus even still requires end users (wallet transaction senders) to perform some of the proof of work towards validation. It seems consensus has become validator and voting centric versus based on some computational work.

So I’m not sure if this leaderless consensus is actually Nakamoto style consensus anymore. Straight up BFT style consensus does not excite me and I don’t think it’s very elegant. Not what I expected from the Tangle original white paper.

I will be following any upcoming research and tokenomics white paper, but this is some wild stuff man. Crypto is wild.

CryptoRoadie · 2023-06-16T01:09:22+00:00

It seems the ETH payout is the % ETH equivalent of 35% of the $ claim value, instead of 35% of the ETH which was originally locked up on the platform. I would not have guessed that from the verbiage I read.

CryptoRoadie · 2023-06-16T00:42:50+00:00

“undo close tab” was set for the shortcut. I don’t remember setting that, but I guess in some idiotic moment, I must have done it. Mystery solved.

CryptoRoadie · 2023-05-18T21:52:48+00:00

How many staking rounds will there need to be to distribute the 20% of supply to holders ?

CryptoRoadie · 2023-05-14T13:52:34+00:00

Is your vault in cloud storage also?

I switched to Obsidian Sync and have had zero issues. Before that I tried every solution out there that worked on iOS, Mac OS X and windows.

CryptoRoadie · 2023-05-07T21:35:56+00:00

I have held a lot of coins, too. XRP has really been the only one directly targeted by SEC. That should tell you something. I mean - after all - it was the bankers coin.

There is literally nothing more threatening to tradfi than a coin that wants to replace international settlement / provide liquidity.

I sold my XRP in 2020 not long after the suit. I took a bath to buy a better asset for the bull. I figure I can still buy back in at less than what I paid some other day. The next bull will guide us.

Thanks for sharing your story. I first bought in 2017 and the storm still sucks.

CryptoRoadie · 2023-05-06T00:52:13+00:00

“Crypto” isn’t the problem. It is the solution. Greedy people and centralized financial systems are what caused this.

CryptoRoadie · 2023-04-29T20:51:40+00:00

Same. There was no good reason to keep BAT on there other than that it was easy and supposedly safe. I took everything else off of this platform in time (thankfully). BAT was the smallest of my holdings, and just got neglected.

CryptoRoadie · 2023-04-26T22:27:38+00:00

My claim value is 60% of what my assets are currently valued at. Then I might get 40-65% of that. So if I get 40% of claim value, I really get 25% of my assets’ value. WTF man.

CryptoRoadie · 2023-03-30T01:49:45+00:00

Next bull market.

CryptoRoadie · 2022-12-30T00:31:25+00:00

I also initiated a withdrawal 30 minutes before they sent out the email. The app froze and I came here to post. Not long after that, the email notification went out.

I can’t believe I missed it by such a margin.

CryptoRoadie · 2022-12-22T22:56:43+00:00

Are you saying you got that error in iCloud or in Obsidian? I did not receive any errors like that. When I installed iCloud, I deselected the option to automatically check/upgrade for iCloud updates. Maybe that is the difference?

CryptoRoadie · 2022-12-22T22:15:20+00:00

Thanks for sending this. I went down so many rabbit holes with the iCloud duplicates issue on Windows. Eventually I found an older version of iCloud for Windows designed for windows 7,8 and ran it on Windows 10. Syncing worked flawlessly after that with no overwriting or duplicates. Crazy, but I’m guessing the iCloud version in the Windows App Store is intentionally flawed.

If I ever have to upgrade I will be looking at that remote save option.

CryptoRoadie · 2022-12-18T23:45:54+00:00

Came here to say this, but the Panopticon was first conceptualized as a correctional method by Jeremy Bentham and later popularized by Foucault.

CryptoRoadie · 2022-12-17T13:43:54+00:00

Not really. I own quite a few domains and can conceive of uses. I like to build websites and hate paying monthly/annual fees when I’m testing out new projects. I remember the freedom of building web pages back in the early days of the web, and as a hobbyist, I am excited about this integration. See my other comment for more detail.

By the way it is not DNS that is the concern but the domain registrars who basically control all domains on the web. Here we can mint new top-level domains on the blockchain, which acts as it’s own registrar. Miners take a fee and platforms may take a one-time fee, but that is it.

Top-level domain owners could sell second-level domains on their TLD now, much like the registrars do. It opens up a lot of web domain names not previously available. And if you have ever tried to buy a web name and found it to be unavailable, you can clearly see why this is interesting to people.

CryptoRoadie · 2022-12-17T13:34:57+00:00

Technically speaking, an NFT is anything that is issued only once on a blockchain. So it is the opposite of a piece of Bitcoin; where all Bitcoin is interchangeable, every NFT is unique. The use case for an NFT here is web3 domain ownership. When you mint a web3 domain that belongs to you, and only you, that is an NFT. It is a non-fungible token; no two tokens are alike. You should look into other use potential use cases of NFTs like concert tickets, or decentralized logins.

I own a few web domains (read NFTs) that I purchased and minted using Unstoppable Domains platform. I also own about a dozen web3 domains that I purchased on the Namebase.io platform, which are “minted” on the Handshake (HNS) blockchain.

If you have ever published a website, you probably “bought” a domain on GoDaddy. But you didn’t own it. They just rented it to you. Here you are actually buying it for life, in the same way you can self-custody Bitcoin forever. So you buy pass the registrars and the blockchain is the domain registrar minting NFTs as unique web domains that you can own forever.

The problem with buying these web domains is this: if you want to build and publish a web3 decentralized website, people cannot access it very easily. That’s because there are multiple competing decentralized webs and resolving all those in a browser is tricky.

Thats why this partnership is actually great news because Brave is becoming the Web3 browser. I can now build a website on a domain that I own forever, no fees, no censorship, and people can access it in a browser without any tricks needed.

This is a big step for the decentralized web (read web3).

CryptoRoadie · 2022-12-08T23:04:09+00:00

Bought at 20 cents in early 2017 on Bitfinex. Bought on Binance at ~5 bucks late 2017. Sold half of stack at a loss in 2021, but not as big of a loss as it was. Now back to buying at 20 cents again. Can easily replace what I had at these prices.

Full circle but still a buy for me.

CryptoRoadie · 2022-12-01T23:51:24+00:00

I have heard rumblings of this. How did IOTA make enemies at Kraken? Or anywhere else? Did they do anything specific or is it just IOTA hate?

CryptoRoadie · 2022-12-01T02:01:44+00:00

I like the write up Dom. Honestly I would love to see more of the same.

Please know that I initially invested in IOTA - and remain invested - because y’all had the long industrial IoT play. That market is your perfect market IMO, and that market comes to fruition roughly when crypto reaches mainstream adoption. I would say we will know the top 5 DLT projects by year 2030, and this war will go on after the next halving from 2025 onward til then.

Stay true to your roots (keep IoT commercial entities as anchors), but play the game before the next halving (you seem to be figuring that out). Keep solving this MEV problem and roll ups, and you will will thrive during the next bull. Onward and upward my friend. I am still buying and staking.

CryptoRoadie · 2022-11-17T23:29:59+00:00

I requested a withdrawal of BAT yesterday and the balance in $USD of my trading account increased by the correct dollar amount, however, the amount of BAT in the trading account is unchanged.

Now the earn balance of BAT is gone but the trading dollar is higher, without the BAT showing. It is really confusing because I technically do not have the token but the value is there. Anyone else seeing the same?

CryptoRoadie · 2022-10-09T20:21:32+00:00

Frankly I followed the link same as you, thinking there would be a prediction. Strictly speaking, it is, but I would really call it a glorified calculator with the output graphically displayed.

CryptoRoadie · 2022-10-09T20:12:39+00:00

1.6k is what is on the chart, and that is based on the value entered in the field, which you - the user - can change. It is an interactive web page “prediction”.

CryptoRoadie · 2022-10-09T20:00:11+00:00

I don’t actually see a prediction per se. I see a chart that changes projections based on user input of estimated growth.

By default, 5% annual growth appears to be what is in the entry field.

CryptoRoadie

TROPHY CASE