/biz/ - Business & Finance

> https://medium.com/stakenet/stakenet-presents-12-days-of-xsn-6e259d2c1554

They are shutting down the XSN blockchain in 12 days with the masterkey.

>>24574054
Wow what a scam. Karma will come back to these pieces of shit.

They already had one scam in PoSW.

>>24574366
1 - X9 the dev team working on XSN weren’t POSW and never were. I was in POSW from ICO and X9 were contracted by POSW to build the blockchain for them.

2 - POSW went tits up because the website got hacked. This had nothing to do with X9 as they didn’t work on anything POSW did sort from the blockchain.

3 - When POSW team essentially abandoned the project X9 decided to carry on working on the POSW blockchain and turned it into their own project XSN.

You try to use this as fud against them but the truth is X9 didn’t have to stick around, they had fulfilled their obligations to the POSW team and they could have left leaving POSW coin holders to lose everything with the project being abandoned. X9 could have easily gone and started their own project and started from scratch but as they had a good rep in the POSW community they stayed and thanks to them POSW holders haven’t lost everything.

So trying to call them out as scammers or something is ludicrous when they have gone above and beyond to help POSW holders and are turning XSN into something with a lot of potential.

Check Wayback machine and you can see when X9 took over POSW in Nov 2017 and updated the website:

https://web.archive.org/web/20171123005149/https://posw.io/

>>24574514
DEVS already exit scammed a project called PoSW.

Do not be led into this. This is their second attempt at creating bag holders.

They claim to be a Blockchain with several DAPPS that will be developed on it.

However, Stakenet blockchain is built on UTXO technology, the same tech that DASH and BTC is built on, meaning it can not support smart contracts or EVN compatible tokens.

Right now the Stakenet devs operate three separate lightning nodes. They operate one with BTC, one with LTC, and one with XSN.

You cannot run XSN on BTC lightning or BTC on XSN lightning. It is not possible.

The way it works is when you do a swap with BTC for LTC for example, your fee is in BTC. What they are doing is creating a "wallet" IE not a liquidity hub for ERC-20 tokens and are attempting to utilize offchain technology to do token swaps.

ERC-20 tokens are incompatible with UTXO blockchains, so there is not interaction with XSN unless a swap is performed for XSN for another token. Other than that, there is 0 UTILITY. So ask yourself, why would you hold XSN token if the ONLY utility is used for swaps for one asset for another.

You don't require XSN to use their wallet and instead can have any asset, (assuming they create their DEX), so it makes no sense to hold XSN.

Developers who scammed those in PoSW are claiming that those who run Masternodes, will have so-called liquidity hubs. This is SIMPLY not possible unless liquidity is held in XSN. Do your research. Furthermore, they use a governance protocol in which they hold many masternodes to vote to fund themselves from the treasury to fund their operations.

However, this code is not open sourced and has never been audited. There is no record of what is being done. Remember, these same developers were responsible for the PoSW coin. Do your research before you give these scammers money. XSN coin has NO value.

>>24574560
Already disproven POSW fud attempt as for technical aspects here we go:

Of course Blockchains operate independently that’s the point of them. If you have a BTC on LN and want to swap it for LTC on LN then you can’t swap them trustlessly without some form of middleware to facilitate the swap and that’s what X9 have built, the middleware that bridges the two technologies. It is also what bridges ETH and ERC20 from L2 on Connext to LN.

Both Raiden and Connext devs have seen and used X9 devs middleware tech and both were happy to vouch for it.

As for not needing XSN that’s where Hydra comes in as that’s when the rules and tech X9 have built is codified to the blockchain.

Right now XSN DEX is moving from Ghia to Prometheus, single hub to multihub setup with the rules and parameters that X9 have defined in their swap tech. Once that is confirmed stable and working as expected then there will be a mandatory blockchain upgrade to Hydra which will add many new features along with codifying the DEX tech, rules and hubs to the blockchain allowing anyone to setup hubs.

Your entire arguement rides on the XSN blockchain staying exactly as it is right now when it has always been said there would be a blockchain upgrade for Hydra to roll out hubs amongst other things, it’s right there on the graphic when they announced it.

>>24574514
>>24574560

>>24574627
It’s not hard when he keeps posting the same easily disproven bullshit, needs to get some new material.

What are these essays you people are writing? I'm just talking about the 12 Days of Stakemas.

>>24574651
stoked as well bro

>>24574603
This is bullshit and not disproven. It does not need XSN for transactions. XSN blockchain is incapable of being this so-called middleware and that's not how lightning swaps work.

It's simple how it works, you have a BTC lightning node. You commit coins offchain by doing an onchain transaction, then you are able to send tokens to a BTC lightning counterparty.

You can also do swaps with another lightning compatible coin such as LTC, but the swap is done on the BTC lightning chain and the fees are paid in BTC.

XSN is not involved in this process. They can't upgrade it from UXTO to EVM compatible. That doesn't make any sense. For them to do that, they would have to create an entirely different network that is smart contract capable.

That's like saying BTC can upgrade to run smart contracts. It can't happen.

>>24574651

Just some retard who spends all day everyday trying to fud XSN because he’s so massively butthurt because he sold at $0.05. You can tell he’s a retard when he includes statements like this in his wall of text:

>The way it works is when you do a swap with BTC for LTC for example, your fee is in BTC. What they are doing is creating a "wallet" IE not a liquidity hub for ERC-20 tokens and are attempting to utilize offchain technology to do token swaps

>>24574693

Answer me this Mr Expert.

You have BTC on LN

Someone has LTC on LN

How do you trustlessly swap assets between each other?

>>24574786
It's called submarine swaps. Look it up. LOL. It has nothing to do with XSN blockchain. And they are not the first nor the only project to implement submarine swaps.

Right now, XSN shillnet team takes 100% of the profits. XSN coin has no utility in these transactions.

Literally the only fees paid in XSN are when you swap XSN for another token. That's IT.

I mean think about it, they are doing that right now but are you receiving ANY profits? Just use your head and look at what the fees are paid in. Are they paid in XSN?

UH, NO. LOL.

>>24574873
Submarine swaps are onchain to offchain not offchain to offchain retard.

As for using XSN how many times do you have to be told - HYDRA.

Right now there is no fee, fees are set at zero. With the Hydra upgrade the rules for swaps are codified to the XSN blockchain and hubs so they can’t act maliciously.

Is XSN needed for swaps as is right now, no as the blockchain has not been updated for Hydra. Even when done XSN will not be needed, people swap there assets, fees are collected from those assets. When the fees are collected they are then swapped again automatically into XSN and paid to the hub owner.

XSN is need to create the hub, the hub is needed to enforce the rules of the swaps, with out it then you can’t have Trustless swaps on a scale that X9 are building.

>>24575158
This post was typed with dark hands.

>>24575158
Think about what you're saying. They have 1 BTC lightning hub and 1 LTC lightning hub. When you send a BTC transactions for LTC, a swap takes place for BTC to LTC and the person requesting the swap pays in BTC.

Just think. Use your head. Do you get any of these fees right now? When you make a swap, what do you pay in to rent the channel and what do you pay to make swaps?

UH, well if it's a BTC channel, you pay in BTC. I don't understand why this is so hard for you to understand.

So ask yourself, how is it possible to ENFORCE rules, IE using logic for an execution when it meets a set of conditions IE a SMART contract on a UTXO blockchain that is not EVN compatible?

Do you understand this??? LOL. I'm sorry that you don't, but it's because you're too committed to their lies.

You can't see the forest for the trees. You can't ENFORCE rules like you say in such a way that requires the LOGIC you think it does without smart contracts.

Ask them why they build their blockchain on UTXO tech. It will and CANNOT EVER be upgraded to do this.

I don't know what else to tell you. Ask the developers.

>>24575158
And you're wrong about the fee being zero.

Right now Stakenet is operating a BTC node out of Singapore with a capacity of 2.52408999 BTC. The base fee is $0.000190336 and the fee rate is $0.000000000190. It's almost feeless, yes. There is practically NO MONEY in this.

But regardless, IT DOESN'T REQUIRE XSN.

COIN not needed.

BLOCKCHAIN not needed.

What you should ask is where is the BIG EXCHANGE promised.

Sorry to disappoint you, but you can't say I didn't want you.

>>24575355
Think about it retard.

WHAT MAKES THE SWAP HAPPEN.....

You have two completely different blockchains on L2. What connects them and arbitrates the swap to make sure it is fair?

Right now that’s just some code that X9 developed. In Hydra that code will be baked into the XSN blockchain amongst other things to ensure swaps are done fairly and nobody can cheat the system.

>>24575204
>>24574873
These posts were typed with one hand because the other one is used in many street-shitting shitholes to wipe one's ass.
>>24575355
You can pay the BTC channel fees with XSN.
You are a spastic, it is EVM, and you keep oscillating between typing it with an N and an M.
Did you know that digital logic is possible outside of smart contracts?
The developers I'm sure will get asked something like this and you will have to create some new bullshit to peddle here.
>>24575440
Icing on the cake that you are an absolute fucking idiot.
>SENDING BITCOIN FROM ONE WALLET TO ANOTHER DOESN'T REQUIRE XSN REEEEEEE
Holy shit you are so retarded LMAO
Big exchange was not promised, they said they were working hard to get listed. You are an absolute oxygen thief.
>but you can't say I didn't want you
Nice Freudian slip there faggot

>>24574054
N-nani