The trick AE devs use to get the maximum from BRI voting


#1

It worth to mention that whole their vote math is a total sneaky trick

Acceptance example with 100 AE tokens in total:
30 AE tokens vote 0%
20 AE tokens vote 5%
30 AE tokens vote 10% 
20 AE tokens vote 15%

Considering the above numbers, 30% of all voting AE tokens rejected the BRI vote while 70% accepted it. The outcome of the vote is positive and the percent of the block reward that will go to the foundation for development support will be 10%.

[(20 AE x 5%)+(30 AE x 10%)+(20 AE x 15%) / 70 AE= 10%]

So according to bullshit they wrote in a blog post they simply will reject those who vote “0”. The magic is:

((20 * 0.05) + (30 * 0.1) + (20 * 0.15)) / 70 = 10%

Because if they count those who don’t want to give them a cut it turns out they are getting less:

( (30 * 0) + (20 * 0.05) + (30 * 0.1) + (20 * 0.15)) / 100 = 7%

If anyone still believe this voting farce is not a fraud, it’s time to reconsider. And those who agree to give them huge chunk of supply on their sole discretion it’s time to reconsider how trustworthy this team is.


#2

@sammy007 I have noticed the same, but I was too lazy to wrote about it. I think all votes should be considered. Yes, the algorithm for voting result is flawed as in nowhere in the world votes are ignored. And I bet it was deliberately designed. The other flaw is no quorum.

There are people who believe in project, there are people who are starting to lose faith. I have no idea what future AE has. But do we have any alternative? I have noticed the Aion project recently (it has ~1% annual inflation hardcoded, but when they implement PoS it will be effectively lower; https://aion.network/media/en-aion-monetary-policy.pdf). What is interesting, Aeternity and Aion have similar circulating supply now (309,271,028 AE vs 309,581,662 AION), so the token price might be directly compared. But in 1 year there will be 355,588,785 AE vs 312,708,437 AION tokens. Another is Cosmos, but I think it will drop in price before it can be considered a good investment.

And another thing. AE team should understand that your quite bold crusade is nothing about hurt Aeternity. But a voice of concerned investor I guess. If you wouldn’t care about the project you would not trying to reveal unfair actions taken against the project. These actions might be unconscious or conscious. I want to believe it is a lack of experience.


#3

Dev team must think AE is a project own by themselves.
So disappointed about AE team .
Fool me twice shame on you!


#4

They don’t care they already removed everything I wrote from reddit.
I think there is enough evidence to call fraud, the “lack of experience” is self deception.


#5

Hello again guys. The rules are simple:

0% - is an effective “No” vote
1%-20% is an effective “Yes” vote

The BRI percent is determined only by the positive votes. This is not a trick. This is logic.

If 51% of token holders voted 0%, there will be NO BRI, irrespective of the fact that 49% of token holders voted something else.


#7

Does “unlisting” is a kind of censorship?


#9

To be honest, we already heard the opinion of Sammy in all channels. FUD and spam will be deleted.

Repeating the same thing again and again IS considered spam and goes against the community terms and conditions.

I asked Sammy to simply sell all his AE and never look back. No need to waste his time on showing everyone how he hasn’t read the BRI blog post.

Best,
Vlad


#10

In my opinion nobody want to hurt Aeternity project. But this is the strong voice of frustration how Aeternity is managed on many levels. If @sammy007 doesn’t care about it, he would just flip to another coin and leaves the Aeternity project and community behind, but he (and I) have a fragile hope things will change. Aeternity has 2 years now (since ICO). Ethereum blockchain started 1 year after ICO and they was innovative and had to invent and implement ideas nobody did before. Aeternity vastly base on analyses made by Bitcoin and Ethereum communities so it should be on different stage on this time on many levels (tech implementation, monetary policy, community development, scientific analyses).

Also I predict, that when things go wrong, many people want to reveal it (when they are stake-holders). When things will start going right, they might do the opposite - just silently accumulating more tokens.


#11

This is not for you here, understand? I am here to reach auditory, those who you are trying to defraud from up to 20% of future supply. You already deleted everything I posted on reddit because you want to keep as much auditory uninformed as possible. That’s a censorship so you can continue pushing that.

Once again, I post this not because i want you to hear me, I want to inform “community” about the dirty schemes you are using to defraud it.


#12

Thank you for providing an opinion in a civilized way. Many of the issues AE is trying to solve are not solved in ETH or BTC. Governance is one of them. IMO - Ethreum governance is 100% centralized and focused on Vitalik. Have they asked their token holders on anything?

What we are doing here is 100% in the interest of everyone in aeternity. The BRI funds will ONLY be used for development. They will not be used for ANYTHING else. Period. This has been confirmed a number of times during the AMA. There will be public reports on the spending.

We are building amazing tech here, really. The BRI will boost the speed of development by attracting more open-source developers. This is in the interest of all AE token holders, including Sammy.

It does place trust in the crypto Foundation for spending the funds, but at this point there is no alternative working solution for this. A DAO approach will be explored, but since the last DAO debacle, this mechanism needs a lot of testing AND include a lot of governance decisions while setting up, which can definitely make people like Sammy unhappy again.

Governance is hard and this is the first step.


#13

This “governance” is a joke. You are technically filtering voters.


#14

What are you talking about?


#15

What you are not comfortable with? I am free to use these channels because it’s a “governance” and I am free to express my concerns and call people to vote against as you call them to vote pro.


#16

Completely wrong. There is NO point to have many AE tokens, if they cost 0. This is super simple to understand. Also, as mentioned, you are spamming and this is being tolerated BECAUSE of transparency. But, we will not tolerate it forever.

You have made your point.


#17

This is first and the last step you need. You governance is a farce and technically fraud.


#18

I admit, you are right in this term. However they had a different monetary policy form the beginning (at least they knew they are competing with Bitcoin). And Ethereum Fundation is doing amazing job, so nobody complain too much. They work is a legendary on-going story already.

The following 12 months will be crucial for Aeternity. Time is running off.

And @ae-vlad, I think it is better to just let the discussion go. There are a few days for BRI voiting to finish and probably it will be created, especially that there is no quorum. Censorship is not going to change anything in this time.


#19

Stop hijacking reality ok? I am using this forum, shitcointalk and reddit just because auditory does not always stay on all forums you are running. Once again, you are censoring everything you can.


#20

Sammy has not been in an way censored so far (at least I have not done it). At this point there is nothing I can say to change his mind. I am just repeating myself. So I will allow other people to join the discussion.


#21

Here is something that I just saw in Twitter on the topic of DAOs :slight_smile:


#22

Everything he says about “decentralization” is a outrageous bullshit, can’t you see it? The only difference with Ethereum is that they want a recurring money flow into their pockets and using this dirty trick in order to get as much as possible by under certain circumstances removing up to 50% of voters and actually forcing them to vote for at least 1% of cut in order to get heard. People usually does not vote so they simply can use their own stakes (even don’t touch official stake) and push some little propaganda and suppress any criticism calling it FUD.

Ask yourself do you really believe that this trick is not a trick? It was well planned trick since launch to introduce high inflation and later take a cut from it by introducing this dirty scheme.