I'll start it off with a real basic question


#1

From everything I have read it looks like you will need to be in physical proximity to something that someone wants to track in order to provide a location verification, so mining for anyone who lives in an out of the way place would be difficult if not impossible. As I type this its making less and less sense, someone please help a lost soul out…

Do I need to be in a heavily trafficked area to provide value?


#2

Hey Tony, great question! When two geo-miners interact, they go through the bound witness protocol. In short, this requires the two parties to be able to send data between each other (see white and yellow paper for more info). In the first phase of the XYO network, most of these miners will be communicating via bluetooth. So early on, yes (for the most part), you need to be within bluetooth range to provide location verification. However, there is no reason that geo-miners will be limited to bluetooth communications in the future.

With that said, this does not imply that you will not be able to mine XYO cryptocurrency in a remote area. With less people around you, there will be less utilized data produced - true. However, with less people, there is also less competition for having data utilized. Thus, in a secluded area, rewards will be less frequent, but also divided amongst fewer people.

We also have other really cool solutions in the works for things like this. Definitely keep your eyes on the things to come!


#3

This leads me to a couple follow up questions, as Graham said in his reply to me on Gitter:

What I’m saying is I personally think the knowledge of where to put miners will outweigh the hardware itself.

Would you agree with the following:

  1. entering into agreements with large property owners in highly trafficked areas will be key to spreading the network, i.e. McDonalds, Starbucks etc
  2. People are going to be hiding their mining kits basically anywhere and everywhere

#4
  1. Partnerships/corporate network participants in general yes, both stationary and mobile.

  2. Ideally in a legal/ethical manner


#5

Is it in our best interest then to extend the bluetooth range as far as possible? If so, if we incorporate an industrial range extender like what these guys make, will it be compatible, or what specifications are required? http://www.aircable.net/index.php


#6

If Nike and the big brands stitched them into my ‘advershirt’ idea they could get paid from the XYO network and pass a small % down to the wearers. All the wearers helping the Network :slight_smile:
I Get the big names involved yess!!!
MacDonalds etc too there are so many of them strike a deal!!


#7

Then it becomes more central than anything else… it wouldn’t help the way you’d think haha


#8

Theoretically, with a longer bluetooth range, you can connect to more devices. However, if those devices don’t have a strong enough bluetooth connection to reach you, then you cannot do a bound witness interaction with them (see yellow paper).


#9

@Erik @pizzamind @tony @StockXchange we’re loving the dialogue taking place here.

Scott started a thread on the Yellow Paper – it would be awesome if you could move this conversation over to that thread so those that have similar questions/concerns can contribute and find everything in one place.

You can find that thread here :

Thank you!


#10

Oh, just lovely, more information to cram :joy:


#11

I apologize but I’m not finding a ‘Yellow Paper’ link or pdf on the XYO.network website. Am I missing it or am I a bit off the trails here? Lol


#12

Here you go @StockXchange :slight_smile:

https://docs.xyo.network/XYO-Yellow-Paper.pdf


#13

Thank you so much @Erika :blush:


#14

Do you have the link for the white paper


#15

All of the documentation we’ve put together is available at https://xyo.network/research


#16

Bluetooth sdk?


#18

not sure, check the XYO github.

love your forum name :rofl:


#20

I’d be so stoked to get that archivist live. I know things are crazy. I broke and ordered a mining kit with non moon lambo funds. I’m stoked to be on the ground level hope you can keep me in the loop so I can get some solid early bound witness gains.