Updated: Sep 3, 2021
Intro: Aaron: Cool, and welcome Mohommad and TSG. Here we are at another AMA. This one is a bit of a sporadic AMA. I’m sorry to everyone we kind of announced it last minute but that’s how we roll a little bit here to an extent. Welcome to everyone this week. We will be doing this a bit more sporadically and I said that last week, but we will probably be doing the next one in about two to three weeks and I will make sure we announce it the week before so that way we can get as many people in and or questions. I know a lot of people aren’t really confident at speaking at these AMAs and that is perfectly understandable. So, a lot of people send their messages either by DM or they write to people such as Monok, or Keith or maybe even TSG and Mohammad and send them through. So, please feel free to send your questions through as all questions are valuable and we certainly want to make sure everyone gets their question answered. Aaron: Welcome to another AMA. It’s been quite a week, I would say. I hope everyone is on a bit of a high. Things are looking quite good, no pun intended. Things are looking quite good from an MXC perspective. What we’ve been focusing on a lot is device provisioning. There is an article that’s been released, actually moments ago, please take a look at that as it speaks a lot about our vision for the future and what we are doing with our device network. What I want to do today is take a little bit of a different tact and what that means is I want to focus on some key aspects that I want to address in this AMA. Some questions people have already asked us in the past or in the last 24 hours. I also want to focus on the future vision of what we are looking to do towards the end of this year and into 2022. Then, I will hand it over to Mohammad and TSG and they can say their pieces and we can open it up to the audience. Aaron: Some of the things I know there has been some confusion around them so I want to address and start off with them so if there are further questions please put up your hand and ask. First things, let’s start with some good news - our new manufacturers. We’ve now added our 3rd manufacturer for our M2 Pros for MatchX. That’s super exciting because we have a lot of chips coming in from Semtech, which is also exciting. Even so, there have been quite a lot of issues regarding logistics during the roll out of the M2 Pro. This has caused quite a delay, and I know some people have waited up to 10 weeks and I personally apologize for this. This has been much out of our hands; nevertheless, as you all are supporters that isn’t really your problem that is our problem. Aaron: So, for those that don’t know we released the news on Monday(by the way great work Mo while Jeff is out of the office you did a great job) as Mo mentioned in the news all M2 Pro deliveries in Europe, and I’m talking to our European supporters (not discriminating against our NA supporters - we will have more news for you in two weeks) but for our EU supporters including the UK (still in Europe just not the EU) all of your orders will be fulfilled within the next 10 days! Now I know there have been some questions in regards to what does that mean exactly because Mo was on the news yesterday and he said “Up until today to order”... I would say it is hard to really say but it seems to be a limited offer but if you can get your order in within the next few days we can get it in within the next 10 days (many days have since past). Aaron: This is kind of crazy considering what is happening in this world and the deliverables of chips from some huge companies such as Tesla, Apple, Microsoft and all of these other big companies having problems with these chips and we can now deliver them within 10 days for all of our European supporters. For all of our North American supporters, as I said, we will have good news for you. I would expect Mo at the big desk will be able to deliver that to you in about two weeks. We have not forgotten about you, and also to our further global supporters that will also accompany you as well as part of our global news for NA and the rest of the world regarding faster delivery times. This is something we mentioned maybe 6 weeks ago. I think we spoke about new manufacturers and the Semtech deal, maybe even longer than that. So it has taken some time to get going but the fact is we do work hard for you all I promise you that. We work 7 days a week and we really want to ensure that logistics work well. We want to deliver what you all ordered and we want to do that fast. So that is really great news and that is super exciting to have more miners join the network. For everyone else, as I said, more news in the next two weeks. Aaron: Another thing I wanted to focus on is there has been some discussion in our Telegram (https://t.me/mxcfoundation) and Twitter (https://twitter.com/MXCfoundation) about Das Kaiser Project 3 (DKP3). Let’s talk about that a little bit. Now this one has been spoken about a lot and there has been some frustration, I’ll say. Let’s relax regarding DKP3. There has been no decision made yet. We are still going through some analysis of DKP2. I was hoping that report would be released this week but it will be released next week instead. Just some final issues regarding that. Now, we are analyzing the results of DKP2 and we are working out ways we can offer it to everybody. I said it would be available to everybody and that’s the plan. We are brainstorming ways and are trying to come up with a fair model that also sticks to our PoP mining model which we’ve had from day 1. That’s what we focus on in regards to MXC and that’s what drives our mining Protocol. For those that do not know what PoP is, that is our MXC mining Protocol as I said and PoP stands for Proof of Participation meaning basically the more you participate the more you earn and this is how our protocol is coded. So in a nutshell this is how it works and this is how we involve PoP and how we involve PoP in the future is still open. Aaron: As you know we just closed DKP 2 so I’m just asking for a little bit of patience at this point. I know people have been talking about staking, or “You’re going to have to stake”, or “You’ll have to have this much MXC in your wallet”, or “It’s only going to be available to multiple miners on peoples’ accounts.” etc. I know there has been a lot of discussion about this. These are just aspects that people are talking about. We haven’t nailed down any. We will be focusing on PoP which wasn’t tested in DKP or DKP 2. The reason why that was was because we wanted to test the sustainability of using multiple miners using BTC on the network and seeing how sustainable and robust our network was. That worked quite well but there were some elements of DKP2 that most people are aware of in regards to not being able to mine every day. That was an issue that bugged me and probably bugged a lot of our miners as well. Nevertheless, that is something we want to sort out as we want to really focus on DKP3, which will be a test net that will be available to everyone that qualifies for it. It will have some PoP elements in there. We are still working on what those will be. I personally feel, and I think most will agree with me, that giving it to people that have multiple miners only is not fair and I want the PoP model to be extremely fair for everybody. So, we will look into that and there will be more notifications. We will be communicative about it. We will also talk more about how PoP works. I think there is a lot of misunderstanding about PoP or our Proof of Participation model and we want people to really understand how that works for you and how you can get the most out of it. So what that entails (and I know there has been a lot of whirlwind discussions about it and some frustrations but there is no need. We haven’t decided anything yet. Look on the bright side. Things are going really well with MXC. I want people to maybe leave their frustrations behind for a moment and just focus on the growth of MXC and how more people are getting involved. I think we’ve had an exciting two weeks and we’ve grown substantially and we are still in a very early phase so let's celebrate aspects that we should be proud of as a network together. I think that is super important for all of us. Aaron: A couple of other things that I want to talk about before handing it over to Mo. People were talking about issues in regards to their Data Dash and not being able to log into it. We experienced, and I think but don’t quote me, happened around 10PM local time CET… there was what we assume was a DDOS attack. It doesn’t necessarily look like a standard DDOS attack and I’m not going to go too much into it, but the main thing is people’s accounts are safe. It’s peculiar it hit us around the time we pretty much hit an all time high as well. But we are looking into that and investigating different things. Our main objective is to ensure your security and your account’s security and that has been ensured. There are no issues in that sense. That’s what we work for. To make sure your mining, and not just your miners, but your supernode accounts and everything in regards to that (staking, MXC wallet, etc) are important. I know people are frustrated about that as well, but let’s not lose focus on what is important. The network are growing, people are getting more excited and more people are joining. I think a tweet was sent out regarding a DDOS attack. It’s a peculiar one, but it’s nothing to worry about. There are some random aspects of the attack still happening, but all in all everything is safe and people's accounts are safe. That’s the most important thing. We are focusing on making the supernodes more robust in the future. Those are the key aspects and I don’t want to talk about them too much. Later, I want to talk about the vision of MXC and what we are focusing on in 2022. I know there are a lot of questions that have come in and have been written to us and I’ll hand it over to Mo so I don’t hijack this one too. Mo, do you want to address any major points from your side?
Mo: For sure Aaron, and thanks for giving me the stage. Of course we have a lot of questions and definitely a lot to discuss. Today I want to talk about what we announced yesterday, to include the new MXC Rewards Program that went live. With this, you can get MXC merch from three different packages including a Bronze, Silver, and Gold packages. The package you qualify for depends on what you do. It’s a very simple process, but you just have to go to the MXC homepage (MXC.org) and see what is required to qualify. For most of you, you have already been supporting us for a long time so by doing a few simple things you can get some of this cool new merch which we have a limited supply. So, I would just say to go there and see what you may be able to do. Also, I know there has also been some frustration with DKP3 and also we are looking at DKP2 results. So it is quite early how the next test will look like, but at the same time give us some time for formulate the results and get back to you with the full plan. Also, check this out guys! We are at an all time high with the MXC price. Within the last two weeks we have doubled! If you started mining two weeks again it was around 2.5 cents each and now it is 5.3 cents! Isn’t that cool? It’s amazing and so much profit. Of course, I’m still doing the MXC news updates so please let me know what more I can talk about, how I can support the community more, and what topics you want me to discuss. Please, ask us questions since only questions we can bring forward. That’s all for my side. TSG, would you like to go for it?
TSG: Yeah, I can just say a few things. I know in the past a lot of people are interested in getting transcripts or recordings of these meetings. Luckily, I can update you all that I can once again provide those. I will be working on today’s to start with just so people can go back and listen to those questions and get some of those answers. So, I am going to try and get those out over the next few days now that things have settled down on my end. If anyone is interested in that I will try to provide updates as soon as I can.
Aaron: Great, and welcome. Thanks TSG for joining us kind of last minute. It’s kind of how we do things. Mo or TSG, did you have any general questions before we open it up to the floor?
Mo: Yes, I do Aaron. Let me ask some questions for Brian Allen today since he wasn’t able to join us today. Brian, we hear your questions and here they are.
Question: Will BTC mining require any kind of staking?
Aaron: I think I addressed it in regards to PoP. We don’t know yet, but it is a possibility. We want to test our protocol with the BTC mining. DKP3 will still be a test, and as I said Proof of Participation is what we are all about. The answer is we don’t know yet. We just finished DKP 2, and I know there is a lot of pressure on rolling out DKP3, or alternatively BTC mining for all immediately or tomorrow it’s just not… if I can click my fingers and make it happen I would do it but it isn’t just possible like that. The answer is it's a possibility. It’s something we are looking into. There are different options as I mentioned in my intro. We will let you know in the coming weeks, and give enough of a notice period so everyone can be prepared for what’s coming.
Mo: I know you have already answered this question but let me just go ahead and go through it.
Question: Will BTC mining be per miner or per Data Dash account?
Aaron: Well, I already answered that one but look. I want it to be per miner. That’s more beneficial, and per account there is just no need for it. It also doesn’t make sense. I’m not silly as well. If it was up to me and I had 10 miners then I would just make 10 different data dash accounts. Easy way around it. So, there is no need to do that. I think it should be per miner and not per Data Dash account as it is so easy to make DD accounts.
Question: What about DOT mining, can you shed some light on DOT mining?
Aaron: Let’s do BTC mining first and let’s close that off. I don’t want to talk about DOT mining right now. Let’s focus on key things. UniSwap liquidity is still a thing as well that we want to focus on. I’m happy to roll it out very soon. DOT mining … it’s a thing in the future and let’s not talk about it until we know more facts. We’ve already seen what happens when rumors break out. I only want to mention things I can guarantee for sure, and that is my answer on that.
Question: Any estimate on the IoT data link market and when it would be live?
Aaron: It’s a very good question. We are taking an alternative approach to other IoT tokens out there. We really want to focus on device provisioning. What this means is that of course we will be looking at downlinks which are cool. However, I don’t think downlinks will bring in the revenue that people are expecting. I think device provisioning will be the future of LPWAN. I think it will be the future of data on-chain. What that means is device provisioning lets people join the network via the hardware they have already purchased. I’d expect to see some big movements next year. We are in talks with a lot of hardware developers. These things take time. It’s very easy work to make it all simple to connect to the device provisioning which allows a lot of different devices to connect to the market. We are taking a very different approach to the global data network than other mineable IoT tokens out there. That’s our goal, so I think it is much more beneficial and hopefully much more profitable and will build a much more robust network. Mo: Just to add on the device provisioning, we have just recently been in talks with one of the manufacturers for smart locking which will allow us to get our hands on a great smart IoT device which basically tracks the number of individuals which are using the smart device. This can help people track who are entering the house, how many times they are coming and going, and at what times which can be useful for Air BNB folks. So, if you want to lease your apartment for 3 days, you can also give access to the person for temporary living. So, we are in talks with those manufacturers and hopefully we will have this on our website. So, one more question from Brian and then we will move forward.
Question: Do we know when the other health criteria will go live?
Aaron: At the moment we are not in a rush to put those in. I want people to get used to the current health factors. I think there is still some confusion around it. I think people understand the benefits of health over halving and you see that through what’s happening in other markets. I think also what is happening in regards to recent reactions to MXC as a token is a positive in regards to health. Regarding Elevation and the other factors we will release those in time, but I promise we will give you all enough notification. I will say a bold statement that we will give you at least a 30 day notification so that people have the opportunity to really understand. We’ve got a lot more transparency than what we had with health. We have learned a lot from the past.
Question: Any idea what causes pressure on MXC in regards to the recent uptick in value?
Aaron: People buy MXC. That’s what happens; when it gets bought the price goes up and when it gets sold the price goes down. I hate to answer it in a silly format but that is how it works. I’d like to think that people are excited about device provisioning as it is going to be huge. It is certainly a different scope and angle that we are taking. I’m hoping that people also understand what we are building as a network and as a global device network and the robustness of it. That is really important to us. I said this last week - we are not really interested in dummy data which is the sending of small data packets that doesn’t serve a purpose. What I want to do is build a market that is self-sustainable so you guys can earn more from it from a monetary perspective so you all can earn more from it. That has always been the goal and that is why I think device provisioning is the key to this. That is why we are branching off into it. We will still respect downlinks and we are preparing them for people to benefit from them via smart houses and smart cities, etc. However, I do see the answer is device provisioning. I don’t - know, we can ask people on the floor here why they are buying MXC if that is pushing the price up and what they are excited about. That is my assumption though, but what do I know?
Mo: That is all the (submitted) questions I have. Let’s go with the audience, which we have a lot today around 78.
Aaron: That’s because you are a star. Let’s go ahead and bring Alin to the stage.
Question: I don’t really have a question but I just want to clarify something with Aaron. About 5 months ago when I bought my 2 miners you said Bitcoin mining will be on top of it (MXC mining). It was not promised it would be free or something, but it was said it would be on top of our base earnings. You know, between mining and staking these are totally two different things, you know? Our miner is just mining MXC, that’s it. That’s all I want to clarify.
Aaron: Sure, let’s talk about that. I don’t want to be pedantic about thing and say “well, actually I said this.” So, let’s talk about that. What that means in regards to Proof of Participation mining (and I think this is something has been misunderstood) is that PoP lives from participative involvement in the network. BTC mining as a result of that would then be participative (or PoP) and focus on our PoP protocol.
Reply: Excuse me, let me interrupt you. It’s true what you are saying and I agree 100% but it doesn’t make any sense when it is saying the miner is a multi-miner. We just mine MXC, that’s it. Do you agree with me in that? Just to clarify that with everyone.
Aaron: I don’t agree and I’ll tell you why. I think with the M2 Pro it helps you to mine DHX. What I mean by that is that of course you can get involved in DHX without a M2 Pro miner but you can also boost your DHX mining with a miner so therefor it increases your mineability of DHX firstly. Without that you cannot mine as much DHX. Secondly, with BTC mining because it is based on our PoP (as is MXC based on PoP)... Let’s face it, if your MXC for example… you have less in your fuel tank or if you have really bad Uptime then you will mine significantly less MXC which is also based on PoP. So I don’t think it is going away from the overall model that we are doing with PoP. I know there is some frustration. Reply: You know because it doesn’t make sense from our (the miner’s) point of view. We love the project. That's why I put $7,000 in. I put it to win, but I also put it to help the project go forward. I want to build something like you all. For me though, it isn’t logical. Take the MXC. I already put in $7,000. I’m now going to buy more, that’s clear. If I want to take from the fuel and put it towards the BTC though, it doesn’t add up to lose $5 to gain $1, you understand the frustration here?
Aaron: I don’t 100% understand the frustration. If it was to lose $5 to gain $1 that doesn’t make mathematical sense. I agree with you that it wouldn’t be worth to get involved with.
Reply: No, so we are somewhat forced to make a choice to buy more MXC to participate. Maybe people can’t afford it. I’m already $7,000 in and for some people it isn’t a lot of money, but for others it is.
Aaron: How long have you been mining? Reply: 25th of May
Aaron: Ok, and I’m not here to make promises on any returns and I don’t want to say that you have to put in a certain amount of money to feel like you are a part of this.No matter how much you put in I want you to feel like you are a part of this movement. Even if you don’t put in money that is also fine, just get involved and be a part of the token/network.
Reply: I know and this is what I tell my friends. I’m not against it but something doesn’t add up and you all need to think more about us miners. I don’t want to sound like it is all about the money, and I don’t want this project to end up like other projects that I won’t name.
Aaron: At the end of the day we have to make difficult decisions. One of those difficult decisions was miner health and if we had a chance we would have done it differently in how we introduced it to the community. That goes for BTC mining. I don’t want to speculate and I think that is based on speculation in regards to staking.
Reply: Right, and we can stake for DOT or something else, at least we can have BTC for us so we can truly say we are multi-mining. Just an idea.
Aaron: I appreciate that. On the other hand, if you look at UniSwap liquidity mining. That would also require investing MXC to ensure you got liquidity mining back on it; whether that is whatever partners we put together with that like USDT or USDC. That requires an investment to get a return. You could argue that is in regards to liquidity mining or staking. It’s not me staying “Ok give me $5 and you won’t see that again.” A lot of it is in regards to it is just an investment and staking returns to you anyway. So we aren’t charging you money, and that goes for anything such as liquidity mining.
Reply: Thank you for answering the questions. A lot of people want to ask this so I took the initiative to ask this as I wanted to hear the answer myself.
Aaron: No, that is cool. I think also, we know people invest money. We want to be responsible and make sure people feel confident in the steps we take for the future. It doesn’t matter if it is $1 or $1 million that is people’s hard earned cash and we are held responsible to you all and we take that on our shoulders. We do take that into account when we do anything.
Question: So two questions for you. The first one is in regards to the supernode outage during the weekend. Two pieces to that. Could there be moving forward (and probably one off cases) some kind of telegram message that is sent to the community or on like MXC.org that shows when there is an outage? Because I was trying to troubleshoot a lot on my end and I thought it was an internet issue on my end. If I knew it was more widespread then it would be understood that I would just be in a holding pattern until it gets up and running but I know it is something that I don’t have to deal with. The other question is if there are long outages that occur because of the supernode because the Uptime metric is factored in, would there ever be any kind of adjustment? I know you all have the 5% buffer but if it turns out to be longer down the road will there be something to try and course correct it since it will impact the 7 day/weekly average?
Aaron: The answer to both of those questions is yes. Firstly, in regards to alerts, we get alerts when there are unusual activities on the supernodes. It’s a little bit difficult, and the reason is this hit us about 10:00 to 11:00 late last night so it was hard to respond too quickly. We did have the devs on it though. That is a great idea though. I think even if we prepare some kind of image that says we are facing some kind of difficulties so we increase our communication and transparency. Then people will at least know. I 100% agree with you. At least they would know that something is up and it isn’t on their end or just their account. I agree with that, and I think we can put it in discord and maybe Telegram so that people are aware that something is happening and that we are well aware of it. I will make a note of that right now. In regards to the second aspect/question, we are looking into building it a bit more robust. I don’t want to go too much into it. Clearly, it was a deliberate act which I kind of think is cool in a way, because that means we are growing and not everyone likes that. On the other hand I know it is frustrating when people cannot get access to their account. We are working on a more robust element to try and ensure this doesn’t happen. Even Facebook, Twitter, WhatsApp have went down this year or last year. So I apologize for that. It isn’t something we want to happen, and we want to ensure there is more faith in what we are doing. In order to do that we have to build a more robust network so we are talking with some partners and with our devs to see if there are any elements that we can improve. I can’t comment anymore on that but I do appreciate your comments. I have the notes to make sure we make some kind of announcement in the future so people can relax and know that we are aware.
Question: With the lead times being shortened in terms of delivery, I know I have friends that want to get in and purchase an M2 Pro, I was just wondering where the referral program is at. Maybe it was launched, I’m not sure. As part of that, if I was interested in a bulk buy say 10 units+, is there any discount offered? I’m just trying to find the optimal time to buy in to take advantage of coupon codes or other promotions you all are running.