RE: Why Raiblocks Will End as a Pump & Dump
You hit the nail on this semi-article comment @jesta. One of the things that I like about you the most man (nah, I'm a straight guy bro) is that you're not blinded by blockchain fanaticism towards your own house, given the fact that you are a Steem witness yourself.
You actually bring in the facts into the table without hiding anything unlike others who tend to cherry pick facts just to preserve whatever vested interest they might be trying to uphold.
I come across this post--which is apparently dated almost one month ago already because I was searching for answers as to why Raiblocks has been continuously demonstrating a stellar price surge despite the whole market is down.
Keywords such as Raiblocks vs anycoin has led me to this post--and I'm not even surprised why Google is presenting me this page, we all know Google is tailoring their algorithm based on browsing history.
Going back, this article has actually a lots of loopholes within its arguments. I can spot them immediately upon first reading of it--and I know it cannot hold a candle the moment you try to examine the validity of those arguments very closely. In the end, it hasn't lived up to what the tittle was supposed to be doing. It's either the author was lacking the sufficient understanding at the time he's writing this or this article was driven by his dogmatic emotion around the possible circumstances.
To be clear, I am against his opinion not because I have a considerable stake in XRB, but because I simply love to approach things objectively based on merit. In fact I don't even own a single XRB coin, which is unforgivable since I stumbled upon this platform way back in November, last year--back then it only costs a dime. Shame on me though!
There are two things that I find about this coin somehow unappealing for long term and adoption side.
It has a poor branding.
The total number of coin supply is relatively very low for this type of instant and fee-less protocol. It undermines the very purpose of being a utility currency for everyday use. It should instead be at least 1 billion total supply or even more!
But thankfully they've re-branded it into Nano which I have just discovered today. I find it awkward but at least it's better and it best describes what the coin is about--capable of nano transactions without breaking a sweat, without charging a penny.
To end this rant, I'd like to thank you man for the in-depth insight about the Raiblocks technology and I surely will try my best to get at least a handful of Nano coins once the price corrects. I'm thinking of dumping my AGI for this solid project.
Not a problem, pretty awesome that you ran across this article via a google search! :)
Regarding #2 - there's been a lot of talk of "moving the decimal" to address that problem. Currently XRB (errr NANO I guess?) is using Mxrb, but could easily be changed to kxrb, which moves the decimal to the right by 3 places. In the current system:
1 Mxrb = 1 XRB = 1000 kxrb
But it could easily be changed so that:
1 Mxrb = 1000 XRB = 1000 kxrb
More info on the units themselves that are compatible with the blockchain can be found here:
https://github.com/clemahieu/raiblocks/wiki/Distribution,-Mining-and-Units
Now I understand it. This also applies to IOTA as well if I'm reading it correctly, right?
On a side note, I'm wondering what is your assessment on Blockstack? How is it different from EOS or can it even be considered a full-time competitor?
Their project sounds very legit and mesmerizing based on my initial impression, not to mention they have Edward Snowden on board.
Would love to hear your thoughts on this. Thanx!
Yup! Pretty much any blockchain can pull this trick off to some degree.
I haven't looked deeply into blockstack - but I do know they have some existing platforms that are pretty interesting and could be adapted to their own blockchain. I don't think it's as robust of a solution as something like EOS, but more focused sort of like Steem. Again, I've probably spent less than an hour reading about them, so I could be wrong ;)