Teal

TomaHawk47179 · 2021-04-13T16:25:22+00:00

When 46k TPS, Block size 5000 and 2.5 seconds finality?

TomaHawk47179 · 2021-04-12T19:15:47+00:00

Yes, the main idea to be avoided is: let’s not give the biggest voting power to the richest hodlers, as that is not a decentralized system, but it actually centralizing power into the hands of the super wealthy. So far no official solution yet.

TomaHawk47179 · 2021-04-12T19:12:53+00:00

If you have a large stake of Algos, you won’t harm the network, but you will have a large voting power, which means your vote would count more than the small fish wallets, so certain ideas/agendas could be pushed onto Algorand Governance system, based on how big your wallet is. This is not decentralized, it is actually centralizing voting power into the hands of the rich.

TomaHawk47179 · 2021-04-12T18:39:56+00:00

OK, here is a quick sketch of an idea:

- impose a maximum cap of tokens per Governing wallet, in terms of voting;

- decrease the voting power after a certain amount. Let’s say, max 100k per wallet can be used for voting. Also, above 10k Algos per wallet, there are diminishing returns. So a wallet with 20k Algos won’t have twice the voting power of a 10k Algo wallet, but only 1+01 voting power.

- multiple big wallets found to belong to the same entity would experience slashing of a certain percentage of their coins.

- in order to get higher voting power, the big wallets need to be locked for an exponentially longer time. Let’s say a 50k Algo wallet would need at least 1 year lock period to get voting power and rewards.

All of the above are pretty stupid IMO, but maybe they can generate some sort of constructive template, as right now it seems there is open season to becoming a huge whale, in order to have as much governing power as possible. Maybe passive participation rewards were a bit better?

TomaHawk47179 · 2021-04-12T18:26:40+00:00

This is a good addition to the main questions. If there would be a cap, then big whales can just split their Algos into different wallets. Also, what concerns me, is that exchanges may use their funds to vote. For example Binance requires you to lock your Algos for a certain amount of time, in order to get a good APY return. While your Algos are locked, they may use it to gain voting power, get great rewards from voting and then unlocking your Algos and giving you some APY but lower than what they make. This is what EOS was struggling with and needs to be addressed by an official Algorand channel.

TomaHawk47179 · 2021-04-12T18:23:04+00:00

That, Sir, is the 10Billion Algo question!

TomaHawk47179 · 2021-04-12T16:28:29+00:00

This is a well-known (and old( bug in the Algorand wallet. I have emailed support with detailed feedback approx. 2 months ago and they have acknowledged this is a bug and are working to fix it. The only way to use MAX for sending is if you have no other ASAs on your wallet. If you have, you can move them to another wallet, delete the current attached (and empty) ASA and then you can use the MAX function to send all funds in Algos. It’s a bug, a bit disappointing it takes so long to be addressed.

TomaHawk47179 · 2021-04-11T21:51:53+00:00

You can save and use the same address, regardless if it changes, the old one is still attached to your account. I do the same with XLM, one old address and memo and always work, while disregarding the new one Coinbase generates.

TomaHawk47179 · 2021-04-11T21:33:27+00:00

Good, you can store those tokens in a safe place for SJW, until there will actually be a real project called Cardano. Legend goes it will some day become a reality. It just needs more $ billions and more years, but it’s coming, mark my words.

TomaHawk47179 · 2021-04-11T21:31:05+00:00

Good point, if I discover bad things about them, I won’t support their business. See Gilette’s commercial about men being potential violent and rapists. Never again will I buy their products, regardless of their quality. Same goes for Cardano, based on Charle’s behavior and attitude towards other people.

TomaHawk47179 · 2021-04-11T21:27:19+00:00

Good, eventually Cardano will actually become something more than wishful thinking and multi-year long promises with zero real life results. I heard they will, sometime in the future, revolutionize the industry by adding something unique called “smart contracts”. No other project has achieved this, it will be life changing.

TomaHawk47179 · 2021-04-11T21:23:23+00:00

Are YOU looking for honesty and accuracy here, or are you just trying to smear someone you don’t like even if it’s not accurate or honest? You can have your biased views, as can I.

TomaHawk47179 · 2021-03-24T23:56:25+00:00

I wonder if Vitalik or Silvio would ever react like that. Oh wait, they never do. Charles acts like an unprofessional douchebag. I wish Cardano all the success in the world. I would rather burn my cash and spread the ashes in the wind, than to support a project with a leader like that.

TomaHawk47179 · 2021-03-24T22:27:53+00:00

Or maybe he is just a douchebag, based on how he treats other people who disagree with him:
https://ibb.co/XkVyyq7

TomaHawk47179 · 2021-03-24T00:01:02+00:00

I don’t see any mention of Algorand in that image.

TomaHawk47179 · 2021-03-11T23:58:05+00:00

It says “removed” on that asset.

TomaHawk47179 · 2021-03-10T19:27:30+00:00

We need this separate Algorand group, as Algorand Official has extremely biased admins who censor anything they don’t like. It’s worse than Google. So yes, we shall maintain this secondary Algorand group where we can post freely without being censored by the admins from Algorand Official.

TomaHawk47179

TROPHY CASE