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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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24382709 No.24382709 [Reply] [Original]

People are saying on bitcointalk that the lead dev quit? true / false?

>> No.24382901
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24382901

proof of scam wallet after all?

>> No.24383291
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>> No.24383644

>>24382709
>bitcointalk

what is this 2014?

>> No.24383776

>>24382709
It was confirmed on the whale channel a few days ago. Most whales have been unloading after that

>> No.24383981
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24383981

>>24383776

>> No.24384185

>>24383776
Can we get some proof?

>> No.24384290

>>24384185
Team is super secretive and doesn't communicate in a normal situation, why do you think they would share the bad news now? This is what you get for no communication and operating "whale channels" on your discord.

>> No.24384328

who the fuck in the team thought it's a good idea to run a price manipulation whale discord? Stupid XSN decision #214251

>> No.24384334

>>24383776
You got evidence to this claim?

>> No.24384416

was this the dev in charge of paying the Livecoin bills? Livecoin fucking us up and disabling the bots. AAAAAA

>> No.24384779
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>> No.24385063
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>>24383776

1. You Lie.
This is only some fantasy fud .

2. You’re not a whale. But, i am a whale.

>> No.24385103

>>24382709
Wouldn't surprise me. The only way the devs are currently making money is when plebs rent their channel and do transactions, but that's what? Enough to buy a few McDonalds meals a week? Other than that, the only way they can make money is for speculation to push the price of XSN up, so they can dump on supporters. That's all XSN will ever be good for. They prob can't wait to push the DEX out to get some exit liquidity and leave XSN in the hands of bag holders. "But....but...I thought XSN would have utility. It's what the devs said...."

>> No.24385330
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>>24385103
And ladies and gentleman, for the final act of the /biz/ circus we have the most retarded human to ever exist!
>Provides absolutely no information, just says some unsubstantiated drivel
kys

>> No.24385394

>>24385103
How do you think they're making money? Do the math. Let's assume they own the channels. How much in rental fees do they collect per week? How much in transaction fees do they collect per week? $10? So enough for a happy meal at McDonalds? Other than that, they gotta sell XSN. The only way they can do that is to dump on supporters. Am I missing something?

>> No.24385630

>>24385394
What you mean just like pretty much every project ever? What projects don’t pay devs in their own coin and how do devs turn that into $’s to pay bills.

>> No.24385780

>>24385394
10% of the XSN generated from block rewards goes to the treasury as locked funds, and can only be released by vote, it's a democratic system.
If you have problems with it, vote no. Or if you don't own XSN shut up because those who are invested and vote are informed. You say 'dump on supporters' as if it's in their best interest to dump the price, which it isn't really. They won't be rushing to sell huge amounts all at once.

>> No.24386096

>>24385630
Not so sure I agree with you on this. If a project is heavily anticipated, it will generally be able to raise tens of millions of dollars in a very short period of time through an ICO. Those projects have a fiduciary responsibility to accurately project expenditures throughout the lifetime of their project. Some projects don't run an ICO, but they are underneath corporations and are funded like that. Some projects are even funded by national governments. It's generally just the scams are the ones that have severe mismanagement of funds that need to market heavily in order to raise the price on speculation, so they can dump their coins. The problem with XSN is that the coin has no utility, only speculative value, so it is imperative that developers create opportunities to dump their holdings.

>> No.24386324

>>24382709
People are saying you might be a queer. True/false?

>> No.24386443

>>24386096
>XSN has no utility
LMAO okay mate. Either you are trying to say it's speculative until the DEX is out in which case fair enough, or you are saying that the XSN coin will never have any utility-based value, in which case I feel sorry for how incredibly stupid you are.
>Project didn't do an ICO so need to raise funds some other way
Thanks for this gem of an insight

>> No.24386503
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24386503

see you tomorrow

>> No.24386531

>>24386503
You realize those things are actually negatives?

>> No.24386570

>>24386443
XSN has utility if you make transactions with XSN. Other than that, it has no utility. It will never have utility for BTC to LTC transactions for example because it is not needed. Nor will it have any utility for ERC-20 tokens, assuming they are able to take transactions offchain. If transactions are performed offchain they don't need to be settled on the blockchain, so where is XSN utilized in this scenario? Even when the DEX comes out, there is no use for it.

>> No.24386712

>>24386570
Because the XSN blockchain is used to verify the 'integrity' so to speak of Masternodes, ensuring they are not bad actors, and performing other refereeing tasks.
It is utilized for trades and AFAIK trade fees will also be paid in XSN, so that fees are not in all sorts of random shit for MNs.

>> No.24386796

>>24386712
That doesn't make any sense though. If I pay for a BTC lightning transactions, it requires BTC. LTC lightning requires LTC. XSN is not required in those scenarios. No refereeing required. And if they are developing an offchain solution, why would you need to pay fees in the underlying blockchain? Isn't that an onchain solution? Can you explain?

>> No.24386942

>>24386796
The offchain solution is in order to settle the buyer to seller instantly from peer to peer.
The fees aren't paid in XSN because you are making a transaction on the XSN blockchain, it is because the native currency of the MNs is XSN.

>> No.24386990

>>24386503
but how many MNs do the team have?

>> No.24387035

>>24386796
https://www.youtube.com/watch?v=e2MKOXXg048&ab_channel=StakenetXSN
This explains to a basic level the idea of things
>>24386503
KEK the famous cZ ID acting like a retard as usual

>> No.24387183
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>> No.24387467

>>24386942
I hate this term, but I feel like you're gaslighting me. I just can't see where XSN is involved in the transaction process based on my understanding of current offchain technologies. The video wasn't helpful either. It said that Masternodes maintain the liquidity for the lightning channels, but this is currently not true. Where is this liquidity going to come from? Also, I understand how lightning 'hubs' work, but they work independent of XSN unless you're referring to the XSN lightning hub. The video seems to be purposely misleading. BTC routing and LTC routing has nothing to do with Stakenet or XSN. Only XSN routing has to do with XSN, so yes, if you trade XSN, it will require XSN, but why would you want XSN?

>> No.24388102

>>24387467
And what facilitates the actual swap? 2 independent offchain blockchains but something bridges them together to make the swaps actually happen right, they don’t just magically connect together. If we take away XSN then where is the network for the DEX or lightwallet to run from? What ensures no bad actors can steal your funds? What referees the swaps to ensure rules are enforced? Nobody needs XSN to make a swap but in the background XSN is doing a lot. If it wasn’t needed then someone would have already built an application like this without it.

>> No.24388569

>>24388102
It depends on what you're swapping. If you're swapping XSN, it takes XSN. However, XSN is not involved in the swap from LTC to BTC. They've been swapping LTC to BTC since 2017. This is nothing new. XSN has never been involved in this. From what I understand as it stands, Stakenet wallet is simply a portal to a lightning hub that can be used to swap coins that are lightning compatible. A user rents a BTC channel from this node and pays for fees. The node operator (in this case Stakenet) collects all the funds. It doesn't require XSN running in the background. I'm not sure what is so innovative about this application. It still has the same problem that all lightning applications have and that is access to liquidity. In fact liquidity or rewarding liquidity providers is a pretty significant problem that has yet to be solved. Every single existing DEX is trying to solve this through some sort of innovative process. What is Stakenet doing to attract liquidity?