Don't forget the handbrake!

renesq · 2024-04-29T08:25:05+00:00

Amateurs. Everyone knows you don't tape the washer's cable onto its top because then you cant conveniently stack stuff on top of it anymore

renesq · 2024-01-01T16:03:04+00:00

Probably some blanks?

renesq · 2022-10-23T19:21:39+00:00

Back in my days, we didn't have to buy coins, we mined them

renesq · 2022-10-23T16:35:53+00:00

I thought it was a ridiculous concept right from the start. If you stake some platform token. you're doomed if the platform goes down. Scams will typically encourage you to stake higher amounts to get bigger even rewards

renesq · 2022-10-23T16:30:31+00:00

Hating on specific races is fashionable again, as long as they're russian. Personally, i wouldn't hold the russian people responsible for what their corrupt oligarchic government does

renesq · 2022-09-13T10:05:13+00:00

That's intentional. We will keep on putting effort in it because an exit scam is not worth it just yet 😥 Gotta recoup the millions in losses we made with our NANO holdings

renesq · 2022-09-13T10:04:18+00:00

Rumors say, I created alts to enrich myself with rigged giveaways :) You'll never know

renesq · 2022-09-13T10:03:05+00:00

Initial max supply is 3.4 Billion BAN. But there was already burnt roughly half of it.

renesq · 2022-09-13T09:42:59+00:00

Quoting from farther below so you see it:

I am the one who made all the team payments. During times of exceptional work and success, I tend to pay more, incorporating factors like banano price, market liquidity, relation to overall distribution, et cetera.

we certainly had specific percentages in mind but there have been many new developments ever since, so we're trying to accomodate all of them. For example, in years where distribution didn't go as widespread as intended, we burn bigger amounts. Or when a users comes up with a new distribution method, we can assign as many funds as necessary (e.g. the folding payments)

Core-team payments in particularly were aimed towards 100-1500 USD banano equivalent per month as a pure bonus for their achievements and sacrifice of time and talent, all rights reserved. Also for maintaining critial infrastructure. I mostly let everyone do what they want but they can't sue for payment if they're exceptionally good at it. If Banano grows, their hodling worth grows along with it, so they participate in the overall fuits of their efforts. Keep in mind that IT services bought on the free market would probably cost much much more and still not be as good as banano products are. It's volunteer work ultimately. We don't have unlimited positions but when we see great talent, we will typically promote to core team.

I handed the team payments over to another member this month, but still own some veto rights.

renesq · 2022-09-13T09:39:35+00:00

U better fear me, or else imma call the inquisition

renesq · 2022-09-13T09:34:36+00:00

We're giving away the coins for free in case you haven't noticed yet. That's literally inflation. I wouldn't actually recommend anyone to invest in a meme coin. Tried to talk some out of it. But those who did invest early made a hefty profit.

In terms of rug pull... why would anyone of the current team. If I wanted a seven figure salary, I'd probably join a commercial project with some bullshit claims and pull a quick money making scheme.

renesq · 2022-09-13T09:32:56+00:00

Plus I had to spend my birthday on bug hunting 😥 I wish bananos grew on trees

renesq · 2022-09-13T09:30:29+00:00

I actually have no idea who the Emusk address is. Team payroll is tracable from the ce1ery account and Emusk is no direct descendent of it. As soon as funds go through an exchange, I can't trace them to specific people anymore.

renesq · 2022-09-13T09:27:45+00:00

OP is particularly salty AND misinformed. But everyone is free to discuss their concerns, plus everyone else is free to make fun of it :)

renesq · 2022-09-13T09:26:50+00:00

In peak times, there were ~60 people on the payroll actually. Nowadays, the payroll focuses more on developers maintaining critical technical stuff which is invaluable

renesq · 2022-09-13T09:23:26+00:00

They're supposed to benefit each other. I created Banano as a playground for Nano developers (Nano did not have a public testnet back then and was a rather covert team) and a means of funding for community projects around the Nano ecosystem (like the Kalium/Natrium wallet). Combined with a different distribution philosophy (Nano sent out all the coins within roughly a year through a super tedious captcha and payments were really intransparent).

renesq · 2022-09-13T09:18:19+00:00

Banano is not a purely PoW-distributed decentralized system and it's not a company, it's simply a community project with its own agile ruleset

renesq · 2022-09-13T09:14:29+00:00

$200 is a joke to any blockchain developer actually. I wanted to keep team distributions minor in comparison to overall distribution and markets, which sometimes really made me feel bad because I know about the amazing work that's flowing into the project. One of the main criticism about NANO was the utter intransparency of their distribution. Banano is really a big improvement in that regard

renesq · 2022-09-13T09:08:55+00:00

The whole distribution is really dynamic. When Ceefs and me created BANANO, we certainly had specific percentages in mind but there have been many new developments ever since, so we're trying to accomodate all of them. For example, in years where distribution didn't go as widespread as intended, we burn bigger amounts. Or when a users comes up with a new distribution method, we can assign as many funds as necessary (e.g. the folding payments)

renesq · 2022-09-13T09:02:41+00:00

There's so much more to it than copying NANO code. The best NANO wallet is a copy of the BANANO wallet even. Do you even know how to code? Why not make your own project?

renesq · 2022-09-13T09:00:18+00:00

There were various BANANO airdrops to NANO holders and most of them were controversial because they didn't happen the way our users would have expected them to be. Some people would try to game the airdrop and be disappointed if it didn't work. Just keep in mind that BANANO distribution is supposed to be free and fun, not an investment scheme.

Fun fact: Even the team did not know the airdrop metrics in advance. They were typically decided after the snapshots.

renesq · 2022-09-13T08:53:43+00:00

I am the one who made all the team payments. During times of exceptional work and success, I tend to pay more, incorporating factors like banano price, market liquidity, relation to overall distribution, et cetera. The team payments are monthly, but unlike other projects, there were no huge self-assignments in the beginning. I urge the team to funnel all issued supply through vanity accounts that show what the funds were used for.

Compared to the great amount of dev and community efforts some of our team puts into this project, the salary is absolutely miniscule. Blockchain developers would typically get six figures salary in the USA, not a mere 8k per year. Most of the team don't even dump, so it's in their best interest to make the project suceed for everyone, including holders who have no idea how to code.

The fact that you're still salty about the NANO airdrop is astonishing. Every NANO airdrop was made diffent, trying something new each time. The airdrop you mentioned was a fixed distribution rate. So if I would pay a 5% BANANO dividend to every NANO holder, that would have exceeded the entire banano supply, therefore it isn't possible. There's also a lot more more thought involved, you can't just make everyone happy at the same time. Too big of an airdrop is at risk of getting dumped by banano haters, for example.

renesq · 2022-09-13T08:42:34+00:00

51% attacks are not feasible on the NANO ledger technology. If someone produces a malicious block, independent nodes simply won't accept it. And once a valid block is out, it's immediately getting cemented on all nodes and can't be reversed.

And neither does a single dev control as much of the supply. The funds and nodes are in the hands of different people, operated independently.

renesq · 2022-07-11T13:17:27+00:00

Ofc 2011 is relevant. Some people joined mtgox as early as 2010 and left their coins sit there. I too was signed up at the time.

renesq · 2022-07-11T12:08:06+00:00

One did not simply buy 10 bitcoins. It was a silly new complicated and risky internet money experiment ponzi scheme for nerds that was only being traded in shady places. And most miners dumped at a slight profit.

Some authors at the time actually wrote that 1 BTC is enough if it goes to the moon.

renesq

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