Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Axion
Options
Comments
-
There is a lot of statements wrong with your post, which to me suggests you haven't even read the white paper. I suggest you go do that first.
Merry Christmas everyone.0 -
There is a lot of statements wrong with your post, which to me suggests you haven't even read the white paper. I suggest you go do that first.
Merry Christmas everyone.
Thanks for the well reasoned, thought out reply!
Of course I haven’t read the white paper, I’ve better things to do. My basic question was why people are putting money into a project that’s dropping like a rock and no one can answer me.
This is a Ponzi if I’ve ever seen one, and it looks like you’ve too much skin in the game. Best of luck Whelo - you’ll need it! Just remember to try and get out first.0 -
Dnxncofiruwvx wrote: »Of course I haven’t read the white paper, I’ve better things to do
Another fault of the average know all crypto investor.
You want me to take the time to explain everything to you, when you haven't even done the basic minimum of reading the white paper because you 'have better things to do'. Go figure!0 -
Another fault of the average know all crypto investor.
You want me to take the time to explain everything to you, when you haven't even done the basic minimum of reading the white paper because you 'have better things to do'. Go figure!
Im not going to read the white paper because I’ve no intention of investing in this, from the outside looking in it looks a mess. Once (if) we get a reversal and clearer idea of the value proposition maybe I’ll change my mind, but at the moment it looks like a dumpster fire, and no one has been able to explain to me yet why it isn’t.
I never said I was a know all, that’s why I’m asking some basic questions about the project, tokenomics, price etc, and I’m being met with a mix of hopium, hostility, and quite frankly delusion (the price will 100x-400x for example).
Like I say, best of luck with it, and don’t get married to your bags. Get out early and hopefully you’ll make some bank on it.0 -
Dnxncofiruwvx wrote: »Im not going to read the white paper because I’ve no intention of investing in this, from the outside looking in it looks a mess. Once (if) we get a reversal and clearer idea of the value proposition maybe I’ll change my mind, but at the moment it looks like a dumpster fire, and no one has been able to explain to me yet why it isn’t.
I never said I was a know all, that’s why I’m asking some basic questions about the project, tokenomics, price etc, and I’m being met with a mix of hopium, hostility, and quite frankly delusion (the price will 100x-400x for example).
Like I say, best of luck with it, and don’t get married to your bags. Get out early and hopefully you’ll make some bank on it.
Reading the white paper would have taken you less time than it has taken for your several posts on here, and it also would have served to answer some of the basic questions and misconceptions you have on the project.
It seems like you are more interested in throwing around generalised trolling terms such as hopium, dumpster fire, dog**** and follow that up with accusations of YOU being the one met with hostility and how nobody is answering YOUR questions.
Unlike other more patient posters on this forum I have neither the desire or time to entertain you. If you would like to find more information on the project and get your pertinent questions answered feel free to join the Axion discord where I am sure there will be many people willing to provide you with the details you seek.
Welcome to the forum.0 -
Advertisement
-
Reading the white paper would have taken you less time than it has taken for your several posts on here, and it also would have served to answer some of the basic questions and misconceptions you have on the project.
It seems like you are more interested in throwing around generalised trolling terms such as hopium, dumpster fire, dog**** and follow that up with accusations of YOU being the one met with hostility and how nobody is answering YOUR questions.
Unlike other more patient posters on this forum I have neither the desire or time to entertain you. If you would like to find more information on the project and get your pertinent questions answered feel free to join the Axion discord where I am sure there will be many people willing to provide you with the details you seek.
Welcome to the forum.
Judging by your reply the Axion community is just as toxic as the project!
I’ve asked a few basic questions that any committed community member should be able to answer (My main bags are ETH, VET, ZIL and SNX, and I’d be happy to answer any questions you have on them).
Questioning a project doesn’t automatically equal FUD or trolling, I don’t even think I was spreading FUD, just asking a few questions really.
You might make some money out of this, but chances are you’ll lose bank on it, and judging by the price action I’d be willing to bet you’ve lost your b0llocks on it already!
Best of luck big man, you’ll need it. Again I hope you make it out ok, take out your stake early and then scale out as the price rises.0 -
Dnxncofiruwvx wrote: »Judging by your reply the Axion community is just as toxic as the project!
I’ve asked a few basic questions that any committed community member should be able to answer (My main bags are ETH, VET, ZIL and SNX, and I’d be happy to answer any questions you have on them).
Questioning a project doesn’t automatically equal FUD or trolling, I don’t even think I was spreading FUD, just asking a few questions really.
You might make some money out of this, but chances are you’ll lose bank on it, and judging by the price action I’d be willing to bet you’ve lost your b0llocks on it already!
Best of luck big man, you’ll need it. Again I hope you make it out ok, take out your stake early and then scale out as the price rises.
You just have to look back through this thread to see how much help I have given to people, and there is absolutely zero responsibility on any investor in any project to help other inquisitive persons, especially not ones with less than impressive attitudes.
I most certainly don't have time nor desire to help people like yourself, who come in with clear negative overtures, and I am definitely not here to justify my investments or convince anyone else to invest in this project. Like I said, go visit the axion discord if you want your questions asked. There are a plethora of community members and mods there who will be more than happy to help you out.
Reading back through your posts is quite embarrassing to be honest. Entirely negative, not of the style expected by someone who is genuinely looking to enquire on a project as opposed to just bashing it, full of assumptions, misconceptions, errors, untruths/lies, with a little dash of clear trolling behaviour. I'd guess you were a teenager except for there is a level of knowledge evident when it's not overshadowed by the poor attitude.
Somewhere like 4Chan might be suited to your style. As I said, head to discord if you genuinely wish to receive answers on the project, I won't be engaging with you further.0 -
You just have to look back through this thread to see how much help I have given to people, and there is absolutely zero responsibility on any investor in any project to help other inquisitive persons, especially not ones with less than impressive attitudes.
I most certainly don't have time nor desire to help people like yourself, who come in with clear negative overtures, and I am definitely not here to justify my investments or convince anyone else to invest in this project. Like I said, go visit the axion discord if you want your questions asked. There are a plethora of community members and mods there who will be more than happy to help you out.
Reading back through your posts is quite embarrassing to be honest. Entirely negative, not of the style expected by someone who is genuinely looking to enquire on a project as opposed to just bashing it, full of assumptions, misconceptions, errors, untruths/lies, with a little dash of clear trolling behaviour. I'd guess you were a teenager except for there is a level of knowledge evident when it's not overshadowed by the poor attitude.
Somewhere like 4Chan might be suited to your style. As I said, head to discord if you genuinely wish to receive answers on the project, I won't be engaging with you further.
So I’ll ignore the personal comments and just jump into the technicals - it’s Christmas, the movies are on the telly, so to humour myself I sat down and read through the whitepaper. Honestly it’s only made things worse in my view -
First, I never realised the close links between Axion and Hex. It looks like Axion is little more than a few steps removed from Hex which is a known scam, where the founder basically took all the ETH deposited by investors. So close in fact the whitepaper goes to great lengths to try and distance itself from it (page 9). First red flag.
Second - Axion calls itself ‘A better version of Bitcoin’ (page 3), and then goes and gets itself a Day One hack within 2 hours of launch, collapsing the price by 100% (Something that hasn’t happened Bitcoin in 11 years). Awkward. Second red flag.
Third - Prides itself on being an alternative to a ‘traditional monetary policy where mass inflation is used primarily to fund corporate bailouts’ (page 3). Nice marketing - however, Axion inflation is set to 8% (page 4)!!! A quick Google shows US inflation is currently running around 1.17%. So the solution to rampant dollar inflation is to create a token which sets inflation at 7 times the current rate? Right, ok. Third red flag.
Fourth - How do you turn an 8% inflation rate into a staking return of 80% to investors? How does that work? I’ve read the whitepaper, read the website, read medium articles, nowhere does it clear this disparity up. I know not everyone is staking so it increases the staking pool for the people who do, but even still the disparity is just too much in my opinion. Fourth red flag.
Fifth - This the main issue for me, and should be a real concern for any current or potential investor -There is no point to the token, other than to generate returns from staking. With enterprise blockchains (ETH, ZIL, ADA, etc.) you stake tokens to secure the network, and then projects are allowed to be built on top of the protocol, and tokens are used to support this. With crypto banks (Celsius, Nexo, etc.), you deposit coins into the crypto bank, and the bank then lends it out to investors, returning most of the interest to depositors in a process known as Rehypothecation. Axion does none of this - in a cyclical move it takes new deposits and hands them over to earlier investors and developers. There’s no other point to the project or utility to the token. I don’t know what that’s called where you’re from, where I’m from that’s known as a Ponzi scheme. Fifth red flag.
I don’t expect to change anyone’s mind here in the thread, sounds like everyone’s balls deep, but if there’s any silent posters reading whether to invest, be very very careful, there’s so much I can see wrong with the project I’d never invest my own hard earned cash into it.
Also, if anyone wants to keep telling me I’m wrong I’d like specific rebuttals to the points I’ve made, rather than than quite condescending replies that I’m not smart enough to understand it! God speed everyone.0 -
Last week's proposals were unanimously voted through by the community. The changes to the network are being live streamed in an hour or so.
They live streamed the last network upgrade which was quite interesting to watch how they work.
https://twitter.com/axion_network/status/1343617976356855808?s=190 -
-
Advertisement
-
Whelo79 I'd be interested to see your response to Dnxncofiruwvx's detailed post above.0
-
-
I hadn't even read his post, as I'd said previously I was done entertaining him. I have little time for someone on post number 2 of their boards history, coming in throwing around buzz words like hopium, dumpster fire etc and playing the martyr when they don't like the answers they get.
I am under zero obligations to defend the project or justify why I am invested. If you don't like the project, don't invest, simple as. If you are already in it and have not done your own research, and the aforementioned posters questions scare you, sell and move on. However, on the request of others I will in this instance come back with a response to each of the points raised when I get back in front of my home computer.0 -
To make clear from the outset, I believe you have probably skimmed through the whitepaper, rather than read it all in detail, as your comprehension is lacking.Dnxncofiruwvx wrote: »First, I never realised the close links between Axion and Hex. It looks like Axion is little more than a few steps removed from Hex which is a known scam, where the founder basically took all the ETH deposited by investors. So close in fact the whitepaper goes to great lengths to try and distance itself from it (page 9). First red flag.
More hyperbole and misconceptions to get us started. Firstly, can you point to where HEX is 'known to be a scam'? There are questions and accusations, but there is zero proof. Richard Heart is an extremely divisive character who controls possibly up to 90% of the supply, but doesn't sell it off. Could he? Yes. Will he? Not imo, he would have done so already. He recycles large parts of the ETH he gets back into buying the token and provides that as divs for the holders. If someone is going to hold the price up like that, it is better for those coins to be in his control than the market, who is absolutely NOT going to hold the price up. Its about legacy for Richard Heart. He already made his money now he only cares about leaving a mark on the space and attaining status. For clarity, I am not and never have been invested in HEX.
Axion openly and regularly states that it would not exist if HEX had not been first been in existence, it does not go to 'great lengths' to distance itself. Axion clearly states it has taken the concept of HEX and improved upon it, with entirely new code, and not a fork as some claim. This is part of the reason why Axion offered limited free claims to HEX holders. Other than that there is absolutely no relationship between the two. Axion's original goal was to be a vastly improved version of Hex. The OA (Origin Address) keeps 50% of all ETH in Hex. Axion, it is only 19% (as 1% goes to the Eden reforestation project) and of that 19%, large portions have already been given back to the community through auction buybacks, and is also used to pay developers, marketing, etc etc etc. The Axion OA can be viewed online and the Discord provides detail on every single outgoing transaction.Dnxncofiruwvx wrote: »Second - Axion calls itself ‘A better version of Bitcoin’ (page 3), and then goes and gets itself a Day One hack within 2 hours of launch, collapsing the price by 100% (Something that hasn’t happened Bitcoin in 11 years). Awkward. Second red flag.
It was not a hack. That is simply incorrect. It was a targeted attack by a RockNBlock (outsourced Dev team) team member during the launch. Axion code has been audited by multiple companies (Hacken, CertiK). The code, IIRC, is all posted on the Github, and to revert to your previous point in relation to Hex, RH patented part of the code so it is not fully open source.
I'll also remind you that ETH was actually hacked back in 2016, exploiting a loophole in the DAO's smart contract, losing $55m.Dnxncofiruwvx wrote: »Third - Prides itself on being an alternative to a ‘traditional monetary policy where mass inflation is used primarily to fund corporate bailouts’ (page 3). Nice marketing - however, Axion inflation is set to 8% (page 4)!!! A quick Google shows US inflation is currently running around 1.17%. So the solution to rampant dollar inflation is to create a token which sets inflation at 7 times the current rate? Right, ok. Third red flag.
The difference between Axions and the dollars inflation is that AXN has a locked inflation of 8% that will never change, whilst the inflation of the dollar can change. US Inflation may only be 1.17%, on the surface, but that doesn't take into account the 24+ trillion in debt. The only real backing of the USD is faith in the government. The amount of interested owed on US debt will exceed the entire GDP of the US in the next decade. The collapse of the USD is inevitable, $9 Trillion dollars (22% of all USD in circulation) were printed in 2020. And there is more to come when they print the next round of stimulus cheques!Dnxncofiruwvx wrote: »Fourth - How do you turn an 8% inflation rate into a staking return of 80% to investors? How does that work? I’ve read the whitepaper, read the website, read medium articles, nowhere does it clear this disparity up. I know not everyone is staking so it increases the staking pool for the people who do, but even still the disparity is just too much in my opinion. Fourth red flag.
I don't know where you are pulling an 80% return to investors from. This just seems like you are reaching for something to complain about. Some may have made this and more through trading and recycling through the auction, but that is not part of the tokenomics of the project and is something recent updates have been implemented to prevent against. I can tell you I have multiple stakes from day one, and while the returns are very good, they are not near 80%. For an explanation, the 8% inflation is distributed to all the stakers, so if there are only 50% of all AXN staked you would receive a 16% return in a year only from the inflation. Then you get dividends from buybacks (80% of ETH deposited through the auctions are used to rebuy the AXN token. There's also an opportunity to increase your return through the 'longer pays better' incentive, where you get more shares the longer you stake giving you higher return.Dnxncofiruwvx wrote: »Fifth - This the main issue for me, and should be a real concern for any current or potential investor -There is no point to the token, other than to generate returns from staking. With enterprise blockchains (ETH, ZIL, ADA, etc.) you stake tokens to secure the network, and then projects are allowed to be built on top of the protocol, and tokens are used to support this. With crypto banks (Celsius, Nexo, etc.), you deposit coins into the crypto bank, and the bank then lends it out to investors, returning most of the interest to depositors in a process known as Rehypothecation. Axion does none of this - in a cyclical move it takes new deposits and hands them over to earlier investors and developers. There’s no other point to the project or utility to the token. I don’t know what that’s called where you’re from, where I’m from that’s known as a Ponzi scheme. Fifth red flag.
That is patently false. The goal of axion is not just to be a staking token. Yes it is a crypto version of the highly successful and popular Certificate of Deposit accounts, but the goal of Axion is to do what many other projects have not. The partnership with connect, how the credit card ties into the staking mechanisms within Axion is a good one for starters. Additionally, the recent proposal of the Axion Venture Fund, which has never been done before. Axion certainly does not take new deposits and hand them over to old investors. Honestly, it almost seems like you took a cursory browse through MAYBE a few articles. Either that or you are being purposefully disingenuous.
Whether the above has appeased you or not, I couldn't really care. Like I said in my previous post, I am not here to represent Axion, it's merits or my choice of investment. I sincerely encourage you to join the Axion discord if you would like to dive deeper into it's set up, the goals and aims, the development of the project, the excellent community involvement, and above all the transparency of everything the dev team do.0 -
The only real backing of the USD is faith in the government. The amount of interested owed on US debt will exceed the entire GDP of the US in the next decade. The collapse of the USD is inevitable, $9 Trillion dollars (22% of all USD in circulation) were printed in 2020. And there is more to come when they print the next round of stimulus cheques!
Sorry, just to pick up on this point because I see it a lot on crypto forums, the highlighted is a bit incorrect. The amount of USD put into circulation due to the pandemic will probably decrease value of the USD around 1% to 2%, and that's before taking other factors in account, which could decrease that further. The dollar is not "just about to collapse" or anywhere near that, this is simply a recycled trope that has been put out for decades. It's a flexible currency, and even through wars, financial crises, and now a pandemic, it's function and underlaying value is not under any considerable "threat". As for US nat. debt amount, it's not like personal debt that "has to be paid off", it's national debt, which the US has no problem servicing.0 -
Sorry, just to pick up on this point because I see it a lot on crypto forums, the highlighted is a bit incorrect. The amount of USD put into circulation due to the pandemic will probably decrease value of the USD around 1% to 2%, and that's before taking other factors in account, which could decrease that further. The dollar is not "just about to collapse" or anywhere near that, this is simply a recycled trope that has been put out for decades. It's a flexible currency, and even through wars, financial crises, and now a pandemic, it's function and underlaying value is not under any considerable "threat". As for US nat. debt amount, it's not like personal debt that "has to be paid off", it's national debt, which the US has no problem servicing.
Lots of people (outside of crypto forums) would disagree with you.
https://markets.businessinsider.com/news/stocks/us-dollar-crash-high-chance-double-dip-recession
And the national debt is a huge worry. If world economy loses faith in it's potential as a global reserve currency the US could find itself in huge trouble.
There is much more in this article in relation to US National debt and the potential negative impact of same. With links to many different economists opinion.
https://www.cfr.org/backgrounder/national-debt-dilemma0 -
Lots of people (outside of crypto forums) would disagree with you.
I work in the industry, literally with financial analysts, there is little or nothing to worry about in terms of key currencies. Keep in mind, stuff like AXN and most cryptos don't compete with currencies, they compete with other speculative assets (like equities, bonds, gold, etc)
In terms of value AXN had a plunge to (EUR) 0.000078 last night and rebounded, if it does that a few more times we might have found some sort of "bottom", which is a start. If there is an alt-run sometime this year, then it could pick up.0 -
I work in the industry, literally with financial analysts, there is little or nothing to worry about in terms of key currencies. Keep in mind, stuff like AXN and most cryptos don't compete with currencies, they compete with other speculative assets (like equities, bonds, gold, etc)
We are off topic slightly but you can't say there is little or nothing to worry about when there are plenty of economists warning otherwise.
And I agree, cryptos are definitely more in competition with those assets rather than with currencies. That changes slightly with crypto's who start offering interest, dividends and an off ramp to directly spend the token.0 -
The potential to passively earn BTC by staking Axion has been voted in by the community. Discord update below:
The Axion Venture Capital Auction Proposal is now Completed
The overwhelming majority voted YES.
General: 619 : 21
5555's: 281 : 6
Core: 5 : 0
Whales: 31 : 1
Two auctions per week now have their divs paid in WBTC + 1 Voted-in Altcoin.
Staking divs paid in WBTC is incredibly marketable.
Everyone wants BTC, and now all they have to do is stake AXN, and they can now passively earn BTC for years and years to come.
With BTC currently breaking all-time-highs, our timing for this couldn't be better.
This transcends the typical "crypto community" and extends into the "new crypto money" where Bitcoin is all they know, and now, they can earn it passively.
We will be launching extensive on marketing for this, across all verticals.
In addition, divs are also paid in a voted-on Altcoin.
This means, whatever alt is chosen will get a good price increase from buyback pressure.
Everyone wants that.
We strongly anticipate that many communities will want to win this vote, to help increase the value of their token.
To win the vote, you need to buy AXN.
1 vote = 1 AXN.
You don't spend it on the vote, it just scans your wallet to see if you have AXN.
We anticipate a "buying competition" that increases in intensity every week, as communities try to out-do the other community to win the vote.
They won't sell, they'll only buy more, as they know, next week, there is another vote coming.
As buy pressure increases, so does the price of AXN.
Making the auctions larger, and the buy-back pressure on the alts larger as well.
This creates even MORE desire to win the vote, and the positive feedback loop begins to explode.
Throughout the voting process, voters will be exposed to the AXN ecosystem, and we highly anticipate that many will chose to stick around long-term.
The first few months of 2021 are going to be absolutely huge for Axion.
The idea behind the vote for the alt coin is an interesting one in theory. If it works out as intended it could have significant buy pressure.
It's nice to see the project evolve and update so quickly. Hopefully it has a positive reflection on the price and attracts more eyes on Axion. I mean, who doesn't like 'free' BTC?0 -
A new staking/marketing push is being voted on by the community today. Bonuses are being paid from the Dev Fund wallet. Seems to be having an impact, 50%+ bump in the price since this announcement was made.
New Years Staking Blitz Proposal
Buy & Stake 25M+ AXN for 1 year+, and get a 7.5% Liquid AXN bonus!
Buy & Stake 50M+ AXN for 1 year+, and get a 10% Liquid AXN bonus!
Buy & Stake 100M+ AXN for 1 year+, and get a 15% Liquid AXN bonus!
Once staked, fill in this form __ with your txid, and you'll get your liquid AXN bonus within 48 hours!
There is only 2.5B AXN available as a bonus, funded from the dev wallet.
First come, first served.
if people have liquid AXN, this initiative will encourage them stake it and lock it up.
If they don't have liquid AXN, they will need to:
1) Buy it on uniswap
2) Stake it for over a year
This proposal is designed to increase buy pressure on the AXN token to start the new year with a bang, and increase the amount of people with long-term vested interest in the AXN ecosystem. If all bonus' were paid at 7.5%, this initiative would create $3.3M USD of buy pressure. As per coingecko, $13,500 of buy pressure increases the price of AXN by 2%.
Y = Yes
N = No[\I]0 -
Advertisement
-
Is there any way of tracking how much of this offer has been taken up?0
-
Up 90% really is the wild west although still down on ath0
-
A nice little community related story here.
https://twitter.com/skitchyquant/status/1345851324936691712?s=190 -
Here I am on a high horse not self referring at all!0
-
I have a month long stake expiring today that has earned just over 5% interest over the month. 1.3m AXN in total interest, which at the current value is about $390. That would be lovely additional passive income to have rolling in each month.
Triple that monthly stake and you are roughly earning enough to meet the monthly payments for a €270k mortgage.0 -
I have a month long stake expiring today that has earned just over 5% interest over the month. 1.3m AXN in total interest, which at the current value is about $390. That would be lovely additional passive income to have rolling in each month.
Triple that monthly stake and you are roughly earning enough to meet the monthly payments for a €270k mortgage.
You must be staking 20 million AXN to get that kind of interest.0 -
-
-
The current gas fees has caused me to sell any left over liquid axion I had.
It wasnt worth re-staking since it was just a small amount.
Has anyone here experimented with using Gas tokens to reduce the gas fees like Chi Gas?
This video explains the idea, you have to buy a gas token for around 1 dollar but it seems to cut your gas fees in half.
I didnt search the discord but they might have suggested this there already.0 -
Advertisement
-
Be interested to know this gas fees are crazy 50 just to withdraw after stakingsnowstreams wrote: »The current gas fees has caused me to sell any left over liquid axion I had.
It wasnt worth re-staking since it was just a small amount.
Has anyone here experimented with using Gas tokens to reduce the gas fees like Chi Gas?
This video explains the idea, you have to buy a gas token for around 1 dollar but it seems to cut your gas fees in half.
I didnt search the discord but they might have suggested this there already.0
Advertisement