That is correct. First ever ERC223 token to be mined this way.
>Abstract The supply of PHX tokens is tied directly to the Ethereum balance of the smart contract underpinning the 'EthPhoenix' decentralized application and mined using a novel, generalisable technique we refer to as proof-of-volitility
>Contributions 1) Model on which a queryable values from a smart contract can be used for generating Ethereum tokens (proof-of-involvement). 2) A specific instance of proof-of-involvement describing an algorithm which dictates proportional token generation according to the stake held by a participating smart contract (proof-of-volatility). 3) A smart contract detailing an ERC223-compliant Ethereum token active on the main network which can be mined a hitherto unused techniques an existing smart contract as the unerlying generator (PhoeniXCoin).
Its live now. >ethphoenix.io/mine/#/
The release only occurred after an elaborate riddle was finally solved after a dev dropped clues all week. The underlying contract is: >ethphoenix.io
or come enjoy the futures market to earn 30x multiples, then dump into ethphoenix. >pyrmex.io
Now to explain the futures markets called pyrmex.com a little more, also a world first.
>There are 6 pots, Zerobear, Bear, Minibear, Minibull, Bull, and Infinibull, representing different ETH ranges the contract balance could be at the settlement time.
>Payout multipliers depend on market sentiment, but have ranged from 1.3x (An obvious, easy bet) to 50x+ (completely unexpected manipulation).
>Manipulation occurs by ethphoenix.io token holders (EPX) during what is called the bog hour. This is the hour right after betting has stopped...but the pot is still hot i.e. yet to be won. The game isnt over until settlement and then the winners get the payouts. IN this hour window, people buy and sell EPX to move the volume in contract to favor the bet. Creates high volatility which generates dividends for EPX coin holders, making a very nice passive means of earning eth...for life. Contract will go forever, physically cannot be stopped. Wild bones wild ride is in effect, are you on?
Jeremiah Johnson
Over 129 ETH has come in since this was launched, jesus fucking christ
You people need to stop, you're going to cause a financial crisis
Charles Murphy
See the post above >Contract will go forever, physically cannot be stopped. Wild bones wild ride is in effect..
it cannot be stopped
Parker Jackson
Another 29 ETH was just dropped into the contract.
Feels good to be an EPX holder today.
Charles Mitchell
Hell yeah let's do this /b/ and my axe! Rolling
Joshua Gomez
Ikr? I can't wait for these new coins to mine either.
Jackson Sullivan
I get my new mine of coins in 10 mins AHHHHHHHH first ever mine!
Zachary Lee
Nah, we're just doing our part to remove supply from the market. You seen these weak handed newfags, dumping their Eth at rock bottom prices? It's insanity. The sooner they lock their Eth up in safe contracts like this the better.
Jayden Foster
I've made 50% on my 0.6 ETH investment. Up to 0.9 now. In less than a month. Doing nothing but holding.
Please tell me why this isn't the best place to hold your ETH right now.
Christopher Wright
Is this people from Veeky Forums dropping huge big balls eth pots, WHERE ARE THEY COMING FROM?
Anthony Murphy
Kek, gratz! I've got like 8 hours left.....fuck....
Pyrmex was hilarious today though - infinibull fucking exploded was pretty much 1:1 haha
Benjamin Fisher
unironically put all my eth in this
Nicholas Diaz
I found 29eth boi
Charles Ramirez
No way it's only Veeky Forums by now, I don't know where all this ETH is coming from.. Maybe it's normies?
They are launching pyrebirds.com/ soon, all I can see about it so far is you can collect eggs..
Do normies like eggs?
Cooper Perry
Ikr? If I wasn't in this, I'd maybe try MakerDAO (similar system, but a more "serious" focus since you're just backing DAI) but this is no shit the better hold now. It's just gone from being a great passive earner to off the charts with this mining thing.
Anthony Rogers
MINING JUST FINISHED walked away with some fresh PHX coin. anyone else have the first ERC223 coin mined ever?
Aiden Miller
Nah, I think it's going to be an open world game with battles etc. So while there'll be a collectible element it'll hopefully have actual gameplay (amazing!)
Carter Collins
The rebrand is shit and not normie friendly. It's not going to take off.
Levi Garcia
>open world That would be fucking huge, shit
Daniel Gonzalez
If I'm understanding correctly they've implemented a staking system and it's already taken off
I'm torn for what to do with them though. Hold? Or get them up on Forkdelta and try to get the first orderbook happening? I'm even think of heading to Ethlend, putting them up for collateral at the same value as EPX and seeing if I get a bite.
Jeremiah Bell
wrong thread bro, powh is down the hall on the right. Dont ask for a URL though since Veeky Forums has banned them from posting EVEN THE LINK TO THEIR WEBSITE HAHHAHA
Caleb Hernandez
Yep. You can do crazy shit with web canvas these days. That's the rumor anyway from another thread earlier today.
Juan Miller
forkdelta full speed ahead!
Oliver Wood
ITT: 4-5 pajeets from the same discord talking together sage
they might be too young to remember the /b/ spambots I guess
Dominic Brooks
Yep. I'm mining right now. Proof of Volatility - as well as still giving the regulare Eth divs, there's some crazy math voodoo that means you can control token issuance. So it's like PoS, but instead of voting on blocks, it's more like a delegated stake - the new contract issues the new tokens based on your holding your EPX. There's actually a real whitepaper now.
I'm so fucking confused - I kinda just threw a spare Eth in for the lols, suddenly it's like a serious hold project kek.
Nathan Phillips
Your FUD just makes me want to buy more to be honest. Wish I'd put in 5 ETH or something. This is the road to NEETbux heaven.
Gabriel Diaz
How the fuck did a pyramid scheme implement PoS before Vitalik
what a time to be alive
Leo Watson
vitalik butterfacein is a scamartist.
Logan Gonzalez
these tokens are worthless
Josiah Flores
Fuck off dumbass, I don't even use discord. Found out about this game here, bought in and today some big shit happened. Whole Veeky Forums does nothing but shill stinkie linkies for months then cries aboud discords. Kys brainlet.
Said every boomer about everything. It's day 1 faggot, what's your point?
Eli Hernandez
He's right for now if he's talking about PHX tokens (not EPX ones). The dev team are working on pairing the tokens to other cryptocurrencies and using them in games.
ITT a pyramid scheme not only implements PoS before Vitalik but also implements FUN before FUN has.
Juan Morris
No, just a massive autist. Money skelly has given us a LOT of good things - name 1 other platform with a well developed Dapp ecosystem where shit like this is even possible?
Gavin Nguyen
If it's PoS it sounds like it should have value but I don't really understand this completely
Like, GAS will never go below a certain ratio of NEO? It sounds like the same thing
Tyler Peterson
Ikr? Hilarious shit!
Ian Bailey
Sad that noone is gonna play pyrmex tho...
David Miller
What? Why? I had a bet in today - lost badly kek.
Christian Myers
Wtf! You guys keep pushing out new stuff all the time, glad I bought some tokens last week.
James Walker
sad really inst the right word considering the onyl reason its not playable right now is because SO MANY people are fomoing into this right now..
its not the worst thing
Angel Fisher
The devs of EPX are autistic code wizards. There's more on the way. We're an Ethereum ecosystem now - the world's first. We have a gaming token based on EPX's volatility. It's an entire economy based on a perpetual motion money machine.
I said it before, but it's unironically the best place to hold your ETH, bear or bull market, if you believe in the future of cryptocurrency.
Ha, I just had a thought about what to do with my Phoenixcoin - an ad faucet. People love that shit - "Phoenix faucet".
Evan Wilson
Not sure about the ratio thing. As far as I can tell there's nothing like that. There's simply tokens issued based a a volatility measure - no cap really.
Luis Cooper
Shit, you post really made me rethink how I should invest my money. Maybe I should listen to some anime autism image board and put 5 ETH into a literal pyramid scheme. Good call.
Evan Diaz
Good idea. Maybe you'll get a 50% ROI like I have. Not bad for depositing once.
Connor Mitchell
this chart gave me a boner
Adrian Morris
The first dApp based on PHX is now out. PHXHell. Snowball of PHX until the timer runs out, then the jackpot goes to the holder.
That was a turnaround of less than 24 hours for the first dApp.
holy shit already? its hardly been a day...My god this team...
Josiah Wright
Okay I'm gonna take your PHX now
Joseph King
bwhahah so when I make coin and make "estimated" value of one to 1 ETH then it's worth that much? Shit let me make some money!
Eli Anderson
I don't think you understand how ERC tokens work...
Andrew Thomas
oh, you can't argue so you tell me I don't understand. okay
Jack Brooks
The estimated value is an approximation of how much your tokens are worth. If you sold, you would get that much ETH, give or take volatility in the contract. It's a market order effectively.
Yes, theoretically you could make a token and 'say' it's 1 ETH a token. This is however backed by the math of the contract rather than whatever value you assign to your hypothetical token
Angel Miller
it could be on the free market if someone pays for it
That's how free markets work user
Cameron Brown
good ole world first bump
Logan Powell
bumpu
Austin Jackson
bump
Jayden Long
third world ump
David Perez
ethphoenix.io contract up to 426 ETH
Zachary Powell
last bump
Jose Peterson
How does PHXHell work?
Joshua Lopez
working well as of now. the pot is up to 5 PHX. Looks like we got a live one!
Can someone explain this mining, I have a lot of EPX and it says I cannot mine again for 24 hours
Jose Carter
Smart contract source code is public, go see for yourself. Crypto is gonna change the financial world bigly.
Blake Allen
yeah so the first transaction "stakes" your EPX
every 24 hours, you can claim PHX
They're generated based on your holdings and the volatility of EPX
It's something like 100 PHX are created for every 1 ETH of volume, divided by your % share of EPX = the PHX you get per day
Michael Lewis
Ty!
Can we see the USD value per PHX on the page?
Charles Harris
Yea I'm looking into this right now.
Gavin Stewart
well, what do you think?
Joshua Walker
Well PHX, like any other crypto, have no inherent USD value - you'll be able to trade them on exchanges but the price is ultimately up to supply and demand
The price of EPX will determine a typical price people are willing to sell for at the lowest, like how the price of a GPU rig creates a hard floor for what people will typically sell a proof of work coin for
If exchange volume takes off and there is enough data to estimate that value though, there's no reason it cant be included on the page eventually
James Carter
Yeah, i just want you to pull the recent price from the exhange
Jackson Wright
Still working on listing it on IDEX and other exchanges but you can trade it on delta
There's no real volume yet because most people are still in the initial mining phase
Wyatt Turner
can't believe you beautiful fuckers have gone this far lost 0.5 eth on phoenix trying to be a smartass with the futures market and i know better than to buy back in at a higher price, but i'll cheer you guys from the sidelines homegrown Veeky Forums project delivering
Isaiah Richardson
lmao it has the literal same site design that a few of those other eth ponzi schemes do
>same site designers lmfao
i hope you fags lose all your money to this obvious scam
Christopher Sullivan
What part of this do you think is a scam?
Andrew Brown
the other ones? could you please give me the URL for those?
>this obvious scam Could you go ahead and point out where anything is scammy about this? Products do the talking around ethphoenix
Luis Walker
you okay bro this has been running for over a month and a half
Adam Scott
bump
William Roberts
The codes ending in KG, RV, KS, is all the same group shilling this thing. These guys with different codes had the same thread yesterday. Total exit strategy built in..
Asher Sanchez
Yeah cause it's based on the EOS website you absolute nigger
