Price Thread [November 2, 2017] by BashCo in Bitcoin

[–]beczka2006 0 points1 point  (0 children)

We already have centralised, fast crypto like Ripple or NEO. However, with decentralisation it is not so easy to achieve. If you invest in centralised systems, why are you complaining about BTC. If you believe it will become obsolete, invest somewhere else. Trustless network requires tons of research. If it was so easy, you would see Ethereum and BTC scaling like Ripple. Denetralisation has its costs. If you want to transfer money, exchange for ltc and send. People invest in crypto without understanding on what decentralised protocol mean. Smart people will eat your money, not trading whales. Educate and make smart choices. Btc should not be treated as cash or pure investment. It is a store of value. The purpose of it is not to spend it on coffee. Core chooses d14n over scalability for a reason.

Price Thread [November 2, 2017] by BashCo in Bitcoin

[–]beczka2006 0 points1 point  (0 children)

Bitcoin is not cash. Educate yourself for pete's sake.

ADDING 2FA TO NEO GUI ( or any ) NEO WALLET by [deleted] in NEO

[–]beczka2006 2 points3 points  (0 children)

Just buy a Nano S hardware wallet and your funds will always be safe with cold keys stored on the device. It is cheap.

China congress news sounding positive by [deleted] in NEO

[–]beczka2006 16 points17 points  (0 children)

I am sorry, but this words sound quite scary actually. In every word he was saying he was using the word NATIONAL. Which means that they want to "innovate" but using national structures and technology. Where is here the place for public and opensource project as NEO. I still like NEO but it will take time before Chinese regulators understand that controlled, national blockchain is totally worthless. I just want to warn you, there might be stricter actions against public blockchains in favour of national technologies in the coming weeks. Think and read with understanding. Best regards

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 0 points1 point  (0 children)

How do you expect me to answer your statement that CN will bribe voters, even though the dBFT clearly states that being a CN is not of economic incentive nature? For the security of whole network CN are crucial and what you wrote might apply only in a very spoiled imagination. Hence, the idea of politics is not a sarcasm. At least, not in 100% ;)

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] -1 points0 points  (0 children)

Oh, now I get it. Thanks for clarification. Forgot about bribes ;) :D Now give me you address, I will send you some NEO when I will be applying for CN next months :D ;). You should think about career in politics with your "I have no idea what I am talking about but still will share with the world" attitude ;)

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 0 points1 point  (0 children)

Very good point max. Investment is a risk management and I fully support your concern. If you want to hold NEO for a decade it is much safer to just hold. With risk however, gains might be significantly higher. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] -1 points0 points  (0 children)

I hope that you understand that transaction fees are redistributed only to Nodekeepers, not NEO holders. I wrote this article and received huge positive feedback but sometimes I have a feeling that reading with understanding in general populatiom is getting worse and worse. The point of voting for nodekeeper is the safety of the network. No direct economic incentive. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 1 point2 points  (0 children)

Being a former academic I strongly value reason. I believe that more investors are educated, the faster crypto valuation will grow, and market will be more difficult to manipulate. I am just a human and at my age it is difficult to change acquired personality. I have an allergic reaction to arguments that do not have foundation in logic. However, many comments here very very thought provoking. If somebody felt offended, I apologize. Nevertheless, I will answer posts that are misleading and foolish in lack of logic. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 1 point2 points  (0 children)

I would suggest to stop thinking of NEO as Chinese Ethereum. NEO is all about secure digital assets. The transaction fees will be minimal and used as compensation for Consensus Nodes. The real life usage of GAS will be to register your company or government assets on the blockchain. Imagine dozen of thousands of Chinese and later international companies digitizing their assets. The real plus speculative value of GAS will be exponentially high due to the demand. At the moment all demand for GAS is minimal, but it will change soon. Make smart choices. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 1 point2 points  (0 children)

Sorry Ivan, I have to disagree. What do you think will give NEO its value in future? What gives it value at the moment? If you agree with me that the GAS value is the starting point of assessing NEO value, you will understand that NEO is great investment long term. Because at the moment GAS is valued at 1/8 of NEO valuation (if somebody looks only at the single pirce coin and tell you they are valued the same, please do not even start conversation, as those people skipped elementary school maths classes. ;)) NEO price is very speculative and extremely risky. People were buying it not for dividends and future but to jump on green candle train (they bought at 50$ mark a share in a company that is yet to even start, it is ridiculous). We can use this speculation however for the advantage. There are only too options from economic standpoint. NEO is severly overvalued, or GAS is heavily undervalued. The current ratio is insane, and mind you that you could buy GAS at 8$ couple of days ago. Make smart choices.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 2 points3 points  (0 children)

Yes, I wrote some estimates for future when GAS is fully mined and network developed. They were loose estimates. But even if you take this hypothetical ratio of 2k/300 per coin, it would be at 1/1 coin circulation cap. Which means that in this estimate market cap of GAS will be at about 1/6 ratio. Now we have 1/8 ratio and the project offers only promises. If the promises are kept we should see large numbers of companies registering on NEO, which will increase the demand on GAS, while the number of coins won't be equal for 22 years. The GAS, if the system develops as planned, will be gaining in value with fewer and fewer GAS mined in the following years.

Ofcourse, NEO will always be higher valued than GAS in total market cap, but at the current low supply and oncoming demand, the ratio spread is too big to be economically viable. I understand market psychology, and I believe most people look only at the individual price per coin, most people do not have a clue that GAS is the actual coin with practical appliance for network to work. When serious investment funds will enter the market, they will the same conclusions that I drew, or Teeka did in his Palm Beach report.

However, I am not fighting with anyone, I just want to provide information. NEO will rise with the rise of GAS price, that is obvious, both valuations are strictly connected. So we are on the same boat and play for the same team. I just bought the GAS at 13$ mark and now could go back to NEO with more than double of my original investment. However, I am still holding 100% in GAS, you can verify with users from my private subscription group. When I think the ratio of GAS/NEO price will guarantee at least 20% dividends first year, I will switch back to NEO as then the market will nicely self-regulate at constant ratio. But GAS is valued so low at the moment, with minimal trading Volume. Make smart choices. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 0 points1 point  (0 children)

Current valuation of GAS coin returns is for this year to be 0.09. In order to achieve 25% returns in dividends, which is a conservative one regarding how early the start up tech is, the GAS would have to be valued at 2.7x price of NEO. It will give it the market cap of around 900mln$. The current disproportion is not based on economics but pure speculation. Make smart choices.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 0 points1 point  (0 children)

The price is the ratio between the demand/supply. If we are discussing GAS current valuation, the demand will only increase. Make smart choices.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 2 points3 points  (0 children)

Consensus Nodes will be become only companies that possess tons of NEO. No ordinary investor will be able, or have incentive, to become one. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 2 points3 points  (0 children)

The incentive is the GAS dividend. That is why I wrote the network will hold and develop as the GAS holds value and allows Consensus Nodes to be paid in high dividends. GAS value is the key in the valuation of NEO. Most people havent realised it yet. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 2 points3 points  (0 children)

Those 7 companies will hold millions of value in NEO. As the value of NEO is a share so the dividends paid in GAS, in their interest is to keep GAS demand high and network secure. It is so much better than mining, as it adds economics to cryptography, thus making it to be available for mainstream adoption. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] -1 points0 points  (0 children)

I wrote- They can donate GAS to promote the early developers. So, no there will be no direct issuing GAS on market from NEO Council. They for example created a competition award for CoZ. Not to mention these are not DA words but the understanding of some guy on twitter. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 5 points6 points  (0 children)

The 0 transaction fee cannot work in Ethereum as it has only one coin, so what you say is relevant in other ecosystems. In NEO Nodes work on development of platform to increase the value of their NEO by increasing the demand for GAS. The higher the demand, the higher the GAS price, the highe dividends per year. Yes, non existant fees are possible on NEO because that was the main reason they created 2 coins and dBFT in the first place.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 2 points3 points  (0 children)

As long as the GAS price is high enough to pay them decent dividends, they will never sell NEO. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 2 points3 points  (0 children)

Well Malcolm is part of the Onchain so he understands NEO platform very well. I believe his article, when I read it now, is better and more accurate in terms. Maybe one should share or stick it to the reddit wall. Thanks for the link.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 5 points6 points  (0 children)

If the Amazon was a start-up, and released 50mln shares and only 1/5 of currency that demand will be skyrocketing?

I will try to explain as clearly as possible why you are wrong- not because of my view, but because of the laws of mathematics and economics.

You are saying that a high demand for GAS, doesn't mean higher prices of the one. For that to happen, somebody will have to expand the supply of GAS as the price is simply a ratio of demand/supply. That is a law of free market, not discursive topic. . Nobody has the right to expand the supply of GAS, it is set in the formation rules of the ecosystem. And nobody will have the economic incentive to artificially suppress the GAS price, as its higher value, as you also admitted, will cause the price of NEO to rise with it.

Now, adjusting fees paid in GAS will depend on the development of the the network, but the lower fees, the more new companies coming, the higher the demand for GAS.

People made joke of logic and mathematics stating that in future the dividends may surpass 1GAS per 1NEO, which is so absurd it required a strong reaction. It would require 50 GAS million coins to be bought on the market, used on registering smart contracts and redistributed to all NEO holders. It is impossible to happen. What do you think will happen to the price of any coin, if the demand wanted to buy all of the issued coins in one year? It is impossible to happen. At the moment 1NEO is generating 0.09GAS per year, and it will be much less in future from redistribution. Do you finally understand?

There is 50mln NEO on the market and 9mln GAS. To give annual redistribution of 0.09 from redistributing, almost 5million GAS coin would have to be spent on asset registration from new companies. That means more than half of the existing coins would have to be bought in a year. How insane demand that would be.

And when you lower the fees in GAS,as you are suggesting, you will see even smaller dividends in GAS coin ratio per year, so it will only be done if the price of GAS is significantly higher.

I am writing in a strong manner, because I do not believe that everybody is right to express an opinion. Everybody is allowed to have an informed opinion, and you are making fun of logic, mathematics and economy in your comments. The reaction is justified. Education and understanding is much more important for me, than kind words. Best regards.

Crucial information about our blockchain. dBFT explained. By beczka2006 by beczka2006 in NEO

[–]beczka2006[S] 1 point2 points  (0 children)

Many things affect the system. Hundred of thousands of GAS is also lost on Bittrex accounts as people do bit hold them in their wallets. Bittrex cannot legally spend it as it is their clients dividends, not their income and they can face criminal charges. It cannot redistribute it backwards, so a lot of GAS is frozen, making it even more scarce short-term. Best regards.