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/biz/ - Business & Finance

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21315477 No.21315477 [Reply] [Original]

Why do we need another blockchain?

Masternodes look cool, but every other masternode coin has fizzled. Why will this one last long term?

What am I missing?

>> No.21315672

>>21315477
Focus less on the blockchain and more on the DEX built on top of blockchain.
No gas fees, minimal trading fees, and virtually instant trades between Ethereum and bitcoin blockchains thanks to lightning and raiden integration. No other DEX has both.
The Stakenet chain itself is a means to build that platform but they’re not aiming to compete with the other blockchains, they’re aiming to help them scale off-chain because we’re clearly hitting limits on-chain.
Look at all the complaints about gas fees on uniswap. Then look at not just the whitepaper but they already usable beta version of the DEX with launches for real by the end of August.

>> No.21315749

Its very simple, do you feel like paying 20-50$ in gas fees to trade or close to nothing for xsn?

>> No.21315881

Masternodes will get dex fees in stage 3 so think of the gains you will make holding one

>> No.21315884

>>21315672
>>21315749
If the fees are so low then how do I benefit by running a masternode? I can see that it's profitable now, but will it be in the future or is this just another ride it to the top of the bull run coin?

>> No.21315937

I noticed a lot of threads complaining about gas fees

>> No.21316115

Eth 2.0 will come out and solve gas issues, leading the way for the bullrun. Dex’s will be enormous however they will be the current liquidity pool type we see today because p2p trading isn’t great. 1inch will probably lead the volume in 2021.

Stakenet’s dex will have great repercussions for the industry but don’t fomo in cause the shills say it will be the default dex. It won’t, but it will be very useful for getting btc/link/usdt without having to sign up on an exchange. 1 masternode isn’t a make it stack, 10 is. 1 is suicide so you should get one just incase.
Gas prices will be moot in the future, on eth because 2.0 will solve this, and from the btc side, xsn dex will allow you to trade/pay people on lighting.

>> No.21316961 [DELETED] 

>>21315884
>If the fees are so low then how do I benefit by running a masternode?
Even if fees are low, high volume is still high volume.
Let’s say the fees get down to .1% (uniswap is .3 for reference). Masternodes get 45% of the fee spread among them. There can be at most 8000 master nodes at any one time, but due to the way rewards are split it becomes more profitable to simply stake once you hit about 5000. So we’ll say 5000.
1/5000 = .02% of the rewards given to the masternodes.
So .02% times 45% = .9%. That’s almost 1% of the total fees from trading volume, which we established at .1% earlier (right now it’s actually as high as .25% but that goes down with time).
So finally, we take .9%*.1% = .09% of the total volume traded is a value that gets given to you.
Uniswap right now averages 300 million in total volume daily. To be conservative, let’s take a third of that for 100 million.
.09% or .0009*100,000,000 = $90,000.

>> No.21317317

>>21315937
Crypto Cant Scale Part 2: ETH
XSN solves Part 1 (Bitcoin) and 2

>> No.21317748

>>21316961
>Masternodes get 45% of the fee spread among them.
Stopped reading here. All of the fees go to MNs.

>> No.21317888

>>21316115
Eth 2 won’t be able to accommodate all functions on-chain. L2s will still be required to scale.

>> No.21318048

>>21317888
It’ll accommodate a hell of a lot more than it does just now. But Xsn will be good for people that want to trade their btc for link/usdt through a dex.

>> No.21318339

No one is going to use this, so the MNs are useless.

>> No.21318459

>>21318339
Disagree. Some people will use it, just not as much volume as the shills suggest.

>> No.21318460

>>21317748
Not only that but I fucked up my math too which is why I deleted it.
So, trying again:
>trading fees go to masternodes
>realistic worst case scenario: 5000 master nodes
>current fee is .25%, we’ll use .1% or .001 since that’s what it will likely get lowered to over time
>100,000,000 daily trading volume
.001*100,000,000/5000 = $20 daily, or $600 monthly.
And that’s attainable THIS YEAR. THAT IS EARLY.
When we start talking 2021 and we’re talking nearly if not more than a billion in trade volume...things get real fun.
None of this even includes block rewards.

>> No.21318596

>>21318460
You're missing 10% of the fees buy back xsn and get burned. so it's $540 per month. But yeah still decent when your only outgoing is $5 a month for a vps

Dude 100M volume? That's mental amounts of volume. I'll eat my dick live on stream if it gets that next year. I really will. That's pure moonboi fantasy lol. 10-20M could be achievable.

>> No.21318601

>>21316115
ETH 2.0 won’t solve onchain scaling. Sure it would be good enough to manage volume now but crypto is tiny right now, if it is to ever gain mass adoption ETH 2.0 would crumble as well. When it comes more complex smart contracts and more transactions will just flood the network and will be back to square one. L2 is the only way to solve this by moving the majority of transactions off chain

>> No.21318719

>>21318460
5000MN is impossible this year as staking would become more profitable due to the amount of XSN in MN’s, the system balances itself out by design. We won’t even top 3000 MN this year due to it

>> No.21318762

>>21318719
That’s why I said worst case and I am building in a bit of time here.
That’s why I’m using .1% instead of the current rate of .25%.

>> No.21319309

>>21318596
uni has been passing 100m daily for a few weeks now

>> No.21319437

>>21318596
Uniswap is hitting almost 300m daily and people are complaining about the high fees.
I’m not deluded enough to think we’ll suck up all their volume the first day the dex is released, but I don’t think it will be hard to hit a third of what they’re getting.

>> No.21319521

>>21315672
>Focus less on the blockchain and more on the DEX built on top of blockchain.
The DEX is just a side project. The development is still mainly focused on the blockchain.

>> No.21319567

>>21319521
And yet it will be what drives most of the interest in Stakenet as a whole.
I’m not disagreeing with you, but the reality is the masses aren’t hungry for another chain, but they are hungry for the thing being built on it.

>> No.21319641

>>21315884
Yes, it will be more profitable, not less. Here’s the math: >>21318460

>> No.21320281

>>21319641
The reason why Stakenet is so profitable for the holders is because unlike most projects the team aren’t a bunch of greedy cunts. They could have said they are keeping 50% of DEX fees but they aren’t. 90% to MN and 10% to buy/burn XSN. Yeah sure the team are going to have some MN’s of there own but the point is that they only make it if we all make it. If the DEX or project fails then everything they have done is all for nothing.

>> No.21320661

>>21320281
That helps too and is a severely underestimated quality.
Even with ChainLink, which is a project I fervently believe in, it still isn’t a good look that so much of the supply is ones by the team. Even though I know he’s not going to exit scam, that’s a hard sell to other people.

>> No.21321061

>>21319567
The thing won't work without the blockchain. Cross-chain, on and off-chains are still within blockchain development. Those features are extremely important. Not to mention Atomic Swaps.

>> No.21321229
File: 29 KB, 741x568, 1479044932724.png [View same] [iqdb] [saucenao] [google]
21321229

hi

how stable are the LN channels and how developed is the whole tech of LN? are the transactions guaranteed? is the tech "production ready"?

same for raiden - and:

https://explorer.raiden.network/tokens/0x6B175474E89094C44Da98b954EedeAC495271d0F

why not any usage so far?

>> No.21321357

>>21321229
can you tell a brainlet what's this link about?

>> No.21321478

>>21321229
>how stable are the LN channels and how developed is the whole tech of LN? are the transactions guaranteed? is the tech "production ready"?
Try sending 20000 XSN from a wallet to another wallet while paying only 0.00000005 XSN to the network and receive it within seconds. That's LN.

>why not any usage so far?
That's the official public release token. They're still using a similar token for testing.

>> No.21321610

>>21320661
>That helps too and is a severely underestimated quality.
That's because everyone's still using Uniscam. I'm enjoying the dip and gonna buy 18000 XSN if it's still under 4k sats by tomorrow.

>> No.21322159

https://imgur.com/a/V0KhNSs

>> No.21322245

>>21321478
That’s cause xsn is cheap. What is the maximum trade size on the dex. That is limited to the maximum available lightning channel which iirc is around $1000. So it will be a long long time before anyone is making large single trades on the dex

>> No.21322465

https://imgur.com/a/V0KhNSs

Plx who ever invested their life savings, look into this. google is your friend.

>> No.21322567

>>21322159
>>21322465
>meme lines
>posted the same thing eight minutes apart because he’s unsure if his subpar FUD succeeded in posting in this thread due to his horrid internet connection in Siberia
I’m buying another 10k fuck you

>> No.21322597

>>21322245
Not true LN channels are unlimited now and Raiden is unlimited too.

>> No.21322607

>>21321478
thx for the inputs. I will take a look at each component and the dev status of them. reliability is key in financial transactions.

>> No.21322831

>>21322567
lmao, ive got a screenshot of this. REMEMBER THIS!

See u at 3-3.5k, boy.

>> No.21322860

>>21322597
Who’s providing the liquidity for an unlimited btc channel? Where does that exist, show me.

From my understanding, correct me if I’m wrong. But the dex isn’t launched on the masternode layer, so on channels are still routed by someone else just now. I don’t have the time to find out more but that’s okay. However, if the mad lads actually do unload the dex onto the masternode layer and masternode liquidity Locked within them becomes a channel router or whatever, then they could genuinely be worth a lot of money. Like a hell of a lot. Because the lightning network depends on that locked liquidity.... Hell more than 0.1btc maybe. But. That’s a big if, and far away in the future. They could potentially be the biggest ln routers on earth

Big if true.

For now though, and until the lightning implementation is in the masternode layer or however the tech needs call it. You’ll have to deal with low volume. It’s just the nature of the beast

>> No.21322886

google head and shoulder formation, TA

https://imgur.com/a/V0KhNSs

kkthxbye, who ever doesnt listen now, its your own fault.

>> No.21322945

>>21322886
Just post the goddamn image with your post you stupid faggot.

>> No.21323015

>>21322945
take care.

>> No.21323095

See gas fees getting out of control?

Wait until the golden bull. Uniswap will be unusable.

XSN is uniswap except instant and basically fee less over lightning and raiden

>> No.21323574

Literally 2 weeks left until release. I’ve waited for this moment for 2 years. Feels good. When that Download button hits the website, I’m gonna coom.

>> No.21323964

>>21323574
Download button? lmao do you need to download something? i just use binance then lol

>> No.21324099

>>21322245
>That’s cause xsn is cheap.
Coin price don't matter. I've been on XSN for 2 years already and I was there when XSN was $1. I did a split on my 6 MNs, sent 4 MNs to my backup newly synced wallet and paid only 0.00000010 XSN to the network and the newl synced wallet received it instantly.

>> No.21324153

>>21323964
>steam app
>discord app
>fucking iPhones with an app for literally everything
>stakenet dex app

Yup, just go use your browser (app) to give your money to bat eating chinamen

>> No.21324195

>>21324099
Sorry I was referring to LN channel trades. Pretty sure you can’t send 0.5btc through a channel. But maybe I’m wrong

>> No.21324398

>>21318596
Screencapped : )

>> No.21324480

>>21324195
You can with wumbo channels or by mobilising multi path payments

>> No.21324503

>>21324195
>Pretty sure you can’t send 0.5btc through a channel.
Well if it makes you better, people in 1905 didn't expect they could fly along with the birds, thanks to the invention of airplane. People before 2017 never thought that the oracle problem could ever be solved. So I think it's still too early to give this one up.

>> No.21324575

>>21322860
>LN channel
>providing liquidity
not how it works

>> No.21324577
File: 326 KB, 1080x2280, Screenshot_20200812-211116_Telegram.jpg [View same] [iqdb] [saucenao] [google]
21324577

>>21315749
Man, I wish back for "only" 20-50$ gas fees. Today the end of all kind of instant onchain dexs started. Pic related

>> No.21324707

>>21322860
that's exacactly what's planned. MN holders will be able to lend their collateral to provide LN liquidity

>> No.21324810

>>21324503
Dude I’m not giving up, I have multiple masternodes. And I have been following the work for a year. I’m just not a moonboi. This thread was actually pretty chill. We all know it’s a difficult task for them to accomplish

>> No.21325072

>>21324195
sure you can. the channel just enables the transaction, it doesn't care how big the transaction is. what a silly question

>> No.21325192

Wait, is everyone holding their XSN on exchanges right now?

>> No.21325245

>>21325192
Actually there is less than 1% of the supply on all exchanges combined

>> No.21325274

>>21325192
MNs from a core wallet and a few thousand in a Cloud wallet for MNaaS

>> No.21325547

>>21324575
The collateral they provide. So if you want to open a very large channel, you need a hell of a big collateral. My understanding of it anyway. Like I said correct me if I’m wrong. Preferably with some tech link or something

> Stakenet upgrades the current Lightning solution by funding its Lightning chan- nels by default with the Masternode’s collateral and using the Masternodes as bridge nodes between all parties.

>>21325072
You sure? Would be lit to do 0.5btc trades right off the start. Whats the highest trade in the dex so far?

>>21324707
Yeah, I know

>> No.21325637

Is it worth buying if you have no interest in runing MN?

>> No.21325656

>>21325245
>>21325274

Oh so you don't need to wait for the Stakenet wallet, you can use the core wallet to hold a sub 15k stack?

>> No.21326328

>>21325637

Well masternodes are in demand, and people coin to buy nodes. So yes, you could sell your coin to a would be node owner once this goes to $10