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20362139 No.20362139 [Reply] [Original]

I have 12k IDENA coins. Is this project going anywhere? Should i sell for LINK?

>> No.20362294

>>20362139
It's an easy 100x if the network keeps improving and mainnet hits before EOQ3
1. Decentralized identity on the blockchain. It doesn't have to be 1-1 for everyone as long as the vast majority is 1-1. Some big brains will have 3 nodes running, and that's not only fine, but fair. They are smarter than you, let them have something for that.
2. UBI. Big brains will get more, but they arguably deserve more too.
3. Most decentralized blockchain *ever*. This is already a fact. This is the most important part of security on a blockchain, so Idena has a real shot on becoming the safest chain in the world. Don't forget that this is the primary use case of any cryptocurrency. I'm not saying Idena will throw off Bitcoin or even Ethereum, but the most decentralized project in history of crypto will not remain under top 100 for long.
4. It is one of the most elegant solutions to the human oracle problem. Today it is already used to determine answers to approx. 10k "left/right", i.e. "yes/no" questions. Just as validation sessions are used to verify flip answers, they can be used to verify real-life events. Did a certain person get elected? Who won in Real Madrid vs. Barcelona 2020? Is OP a faggot? I am not sure if devs are aware, but they accidentally made a working system that can answer these questions.

>> No.20362792

If you can't see the value behind the idea of Idena, you're an idiot. I've been accumulating all the way down and will continue to accumulate until we skyrocket.

>> No.20362944

>>20362792
How much you holding fren?

>> No.20363008

>>20362139
1) No regular person, who is not a NEET, has the time to do a validation session. Here in the UK it's at 2:30pm, which is a time when most people are working (unless you're lucky and validation happens on a weekend). Unless there is widespread adoption (and I mean widespread) and there is a worldwide recognition that people have to do validation at this set time, it will never be useful. This will never happen due to the fact that for widespread adoption to happen people have to suffer this until then. The only reason it seems viable at the moment is due to the coronavirus since everyone is inside with fuck all to do. Even if it changes so that validation happens on a weekend, there are cultural differences that means that some people wont be able to validate, plus some people actually do stuff on weekends instead of browse 4chan.
2) Culture affects flips quite a lot. What seems obvious to you may be very confusing for someone, in let's say, China.
3) You can run more than one human node. For me this is a dealbreaker since the whole premise of the project is that you can only run one, so it fails at the core problem it was supposed to fix.
4) Normies will just log in with Facebook or Google or something, too much effort to have a human Idena identity.
5) "Muh UBI" - The reward drops proportional to the number of people on the network, so the rewards will be worth pennies by the time this project becomes universal, which it wont.

I've heard in my time that the lead developers wanted the invites to only be distributed among your family members and friends, which is just delusional (who's family is interested in crypto lmao). This just shows the overconfident attitude the devs have, that this will automatically take off when it clearly wont. Sure it seems to solve a "gap in the market" so to speak, but it has many flaws and deluded devs.

>> No.20363029

unironically sold link to buy 300k dna a few months back (bc "link wasn't doing anything)

trust me anon, you do not want to feel these feels...link is in unironic price discovery...dna is in unironic dump discovery. as always, dont take my word for it, check the charts.

>> No.20363076

>>20362944
~25k

>> No.20363201

i don't own any but honestly i think this is the coolest project ever

>> No.20363365

>>20363029
Kek

>> No.20363369

>>20363029
That's a juicy fucking stack. Do you just keep that shit in the client or did you MacGyver together some cold storage?
>>20363076
Very nice dolphin stack also. Easily whale status if the kinks are worked out and the roadmap stays on schedule.

>> No.20363488

>>20363369
>Do you just keep that shit in the client or did you MacGyver together some cold storage?

"cold storage" (in quotes bc dumbfuck devs won't put simple fucking password on idena wallets)

>> No.20363658

>>20362294
>Most decentralized blockchain *ever*
I know what you mean and I agree, but I don't like that anon devs have a fuckton of DNA and their fuckbuddies in the elite crew managing the flip school have most of the invite rewards. It sucks

>> No.20363817

>>20363488
Be nice to have HW wallet support or something like metamask / MEW. Bringing it up in the AMA tomorrow.
>>20363658
I'm not sure if there's an "elite crew" managing that tg channel since I never really go there, but I think the invite issues will gradually be lifted as the amount of users increase. The whole idea behind limiting them and slowing down growth is to buy devs time and prevent sybil attacks due to the population of humans being very low compared to influx of candidates. I do think the 500 dev invites worth of rewards and the respective wallet should be transparently kept and if possible the funds used on interesting community projects or ideas that will improve the Idena ecosystem.

>> No.20363904

>>20363817
>AMA tomorrow.
Wow I completely forgot about it, this will be interesting

>> No.20364047

>>20362294
Pearls of Oz
>>20362139
Link is stinkingly over-priced right now. Don't get rekt. DNA could go to 500 SAT and quickly recover so a hover between 700-1000 Sats is expected but once liquidity comes this thing can move to 10k-15k Sats for its next leg up. Don't fomo into Link now it's too late. The max Link could do is 10$ but it would crash to 4$ in next 6 months.

>> No.20364328

>>20362294
Wow, you keep using my pasta. I am flattered.
This time you at least removed "to your other points" lmao
If you guys exist and lurk here, please engage in conversations more often and keep a single large thread around. We get so many fucking shitters who are just memeing from discord, and it paints this project in a bad light.

One thing that pains me is a lack of usecases around the token itself. Honestly, all they need to do is allow for creation of user-driven validation sessions that need to be funded with a certain amount of DNA and custom flips to start, like a smart contract, let's call it a validation contract. Imagine people create a "Trump vs. Biden" validation contract, the creator configures it so just 1 flip is required (left trump, right biden), someone (maybe the creator even) submits the flip to that validation contract, then he configures it to have >=1000 DNA in the pool, and the pool is distributed to the people who voted correctly on consensus. The cost of running that validation contract should be taken out of the contract itself and passed to the miners, which is basically the concept of gas in ETH. It just has to be for that whole "coming to consensus" action that we do every time after regular validation.

People can argue that the polling sites the community devs have created are sort of that, but having this feature directly in the client, tying it to a specific time, and having DNA as a reward around it would make for such a better user experience with much less friction.

Once we can actually spend DNA for something other than txs fee for sending on the network, you better fucking own some cuz that shit will skyrocket.

>> No.20364494

>>20364328
>Wow, you keep using my pasta. I am flattered.
>This time you at least removed "to your other points" lmao
It's a discord brainlet or two. I saw the thread and saved the good points though. We could use some infographics and an index of breadcrumbs/usecases for serious discussion. I'm not sure what the point is of unironic FUD threads in a <1BTC volume coin but I don't tend to hang in Pajeet circles so what do I know. Maybe it's all part of their grand plan to get the village onboard.

>> No.20364700
File: 142 KB, 640x637, 1591862895824.jpg [View same] [iqdb] [saucenao] [google]
20364700

Speak of the devil.
"Add oracles list skeleton" aidenaio committed Jul 14, 2020
https://github.com/idena-network/idena-desktop/commit/d9cb2c4536ff494e3892e1afa4e3b4675a39f97c

>> No.20364764

>>20364494
Ha, I figured it was one of discord guys.
Yea, we certainly could use a good set of infographics or 4chan memes. I think most of anons just settled for discord for discussion because there wasn't enough here, but it would be good if we can get this up in popularity here. I think we have more than enough anons today than in March, when the whole thing started here. If we compile a bunch, Idena generals could be a thing... although /biz/ has gone down the shitter so much lately. And I get that it is all newfags, and it more good than bad because exposure etc... but they're all so naive and emotional when it comes to investments. I guess you gotta start educating the next generation somewhere.
Tomorrow's AMA will be another good opportunity for breadcrumbs. I wonder if they're going to reveal Binance tomorrow. With Binance's tweet about Idena it seems more and more likely.

>> No.20364794

>>20364700
<Text fontSize={rem(16)} fontWeight={500} mb={2}>
Did Trump win the 2020 election?
</Text>
<Text color="muted" mb={4}>
President Trump on Monday threatened to yank the Republican
National Convention from Charlotte, N.C., where it is scheduled
to be held in August, accusing the state’s Democratic governor
of being...
</Text>

oh my god lol. I really wonder when are the devs going to pay me for my ideas :^)
jk, just make sure it fucking works devs.

>> No.20364877

>>20364700
So work has been started on human oracles! Hmmmm.

>> No.20365291

>>20364764
>I wonder if they're going to reveal Binance tomorrow. With Binance's tweet about Idena it seems more and more likely.
Having volume would be great both for sellers and those looking to fill stacks.
>>20364877
It's certainly a fitting time to prioritize oracles. They have so much on their roadmap but the defi/oracle boom seems undeniable and inevitable. Adding a human element to it could be a very strong niche.

>> No.20365461

> the defi/oracle boom seems undeniable and inevitable. Adding a human element to it could be a very strong niche.

Agreed!

>> No.20365777

>>20364764
>Binance's tweet about Idena
https://twitter.com/binance/status/1281066743025156096
This one?

>> No.20366131

>>20365777
Yes, although I know it sounds like bagholder’s schizo showing, this tweet along with other breadcrumbs from previous AMA (“talks with a tier-1 exchange by Q3”), the other tweet from binance (“what’s a project that has 100 on fundamentals and 0 on attention”) etc are setting up Idena-Binance listing pretty well.

>> No.20366550

>>20366131
As a frequenter of both LINK and XRP threads, I've heard stranger things and seen stranger things actually come true. There was the Dan Larimer mention just a while ago too, he's surely on the radar of many big exchanges with his history and current part in EOS.

>> No.20366754

>>20366550
>>20365400

>> No.20366825

>>20363658
Oh, I meant to talk about this too. I think its fine. It is a lot, but not that much to be honest. At prices that Idena was trending this year, their ~12 mil of DNA at most would be what, $6 mil at most? If this is a team of developers, they'd cost millions across years of dev.
Idk, getting to participate in this for free AND getting some of that pie is a pretty good deal.

>> No.20367279

>>20363029
Link did a 2x its not much

>> No.20367833

I got loyalty got royalty inside my DNA

>> No.20368839

>>20367833
Idena is less than 12 months to prove it's worth to the world otherwise it would die. Just a very big pump to maybe $10-$20 at the peak of next bull-run top in 2022. If it catches on the top could be anywhere between $500 to $1000. Just my 2 cents.

>> No.20368857

>>20368839
"Idena has less than 12 months to prove its worth...."