Quote from: MoveCrypto on October 17, 2016, 07:14:29 PM

Quote from: Daparski on October 17, 2016, 05:09:04 PM

Quote from: MoveCrypto on October 17, 2016, 04:50:34 PM

Quote from: shutyourmouth on October 17, 2016, 02:13:33 AM

IMHO,. Iconomi deserves its own blockcain. Why couldn't a separate blockchain interact with an ethereum smart contract? Then expand the platform's limits with DApp development. And give investors the option to choose how individual dividends are paid whether it be Lisk or Eth. Why put 3500 *+ investor's trust and value at risk (especially fiat investors) because Iconomi's success is currently dependent on Ethereum. Stratis released its own blockchain built to create private blockchains for a fraction of Iconomi's ICO investments. If others understand where I'm getting at... I think its fair to vote on a better solution such as an independent blockchain. And do this by treating every account as a delegate. Personally I would rather wait until Iconomi has the best opportunity to go public then go out on a limb with Ethers current status on work load stability. I bet we would have easily seen 21000 BTC if the DAO hack never happened...

PS: I really like the idea behind Iconomi but I'd rather get dividends in lisk.

Ethereum:
- consistent $4MM+ daily trade volume can easily absorb $10k to $100k+ worth of dividends going out every week

- most nodes out of any crypto (7000+) means very decentralized network

- cost of sending out 6000 dividend transactions every week
on ethereum: 25 minutes and 13.5 ETH ($160)
on bitcoin: 30 minutes and 1.5 BTC ($960)

- 2nd highest hashrate of any crypto (6 TH/s) means very hard to alter a transaction once it has been written to blockchain

As you can see, Ethereum is currently the only blockchain where it is feasible to launch a huge, dividend-paying project on. Ethereum is the only blockchain with a history of supporting tokens on its' chain with $100+ million market cap.

Better to pay ethereum miners fees to use their network, than it would be to pay several developers to maintain a new ICN chain, which would be more centralized and less secure than ethereum.

Now Iconomi can focus on fund management and building fund management platform, instead of wasting time and money trying to maintain and grow a blockchain.

How did you get to 6,000 dividends when there are 3508 ICO participants?
Also not sure how you got the TX fees numbers

**it should have been 25 minutes for ethereum in original post, not 2.5 minutes

6000 transactions is an estimate of the maximum it could be at some point if Iconomi grows and there are a lot of people holding ICN off exchanges. In reality it would probably be closer to 1/6 to 1/3 of that

(6000 transactions)×(75000 gas/transaction) = 450MM gas to send dividends each week

Assuming gas limit of each block is 4.5MM on a healthy network, that would be 100 full blocks, or 25 minutes

Assuming gas cost would be 28 gwei/gas, that would cost 12.6 ETH ($150) each week

Quote from: ICONOMI on October 13, 2016, 02:12:17 AM

We have 3.5k investors + 3k bounty hounters. A bit of overlapping. All together 6k accounts with non zero balance.

Not all did input their eth address. Many (especially account with smaller amounts) are going to leave their ICNs on our platform. That is the reason 15mins should be enough.

Gas usage. ~100k per address. If we do if now that's close to 100m gas. Half of it goes to "if balance already assigned checking" - but is worth it. This needs 100% accuracy. 99.999% one if not enough.

On bitcoin, it would take about 2.5 blocks full of transactions to send out 6000 transactions
https://blockchain.info/

Each full block usually contains about 0.5 BTC in fees

So it would take about 1.25 BTC ($800) and 30 minutes to send out 6000 dividend transactions each week on bitcoin (probably even more expensive if you wanted to outbid everyone on 2.5 blocks in a row)

Other chains are not even considered due to lack of hashpower security, lack of decentralization, and lack of market cap/trade volume to support such a huge dividend-paying project

I wanted to ask if ICONOMI already found its block, and the date 25th is already fixed for the launch and have entered the market ??