What value are you guys actually providing? Everything you listed is incredibly easy to do without your site. How are you planning on making money? A static site could do the majority of this.
Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
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Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#32Hi, just a general question for tokens that you might be able to answer: let's say I create a token and I want to programmatically give those tokens to people as a reward. Think of it something like "kudos" so let's say I'm at work and I want to give my coworker a thank you and for that, as a token of my gratitude, I want to send them one of my tokens. Is this do-able at all or am I just thinking of this the wrong wa…
You could just make a Google Sheet called "My Friend Tokens", make two columns "name" and "amount", and put each friend on a row. Then enter your rewards there and share the sheet in read-only mode with everyone.
What's the actual difference between this and an Ethereum token? Except you don't need to pay for the Google Sheet, of course.
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#33What value are you guys actually providing? Everything you listed is incredibly easy to do without your site. How are you planning on making money? A static site could do the majority of this.
The most direct answer is that we’re providing ease of use and helpful tools. I guess you could argue that it’s easy or hard depending on the person. We plan on making money from paid features later on, like automated token distribution hooked into API’s, and smart contracts that can easily be hooked up to your token.
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#34Once we create the token, do we have full control of the Ethereum wallet from which it is issued?
You will have full control of the token contract from the ETH address that you used to create the token.
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#35You say that you're not focusing on trading and that you want to do things right. But isn't the sole point of crypto currencies that they can be traded? What uses are there other than trading?
Oh I do think the currencies should be used for exchanging things. I mostly meant that they shouldn’t be viewed as an investment or a way to make money. More as an actual currency.
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#36My favorite coin so far is the TallCoin: "I will issue 1 coin to any person who is taller than me (I'm 6'7")".
https://www.onhexel.com/token/bb571299-e19a-4671-9036-7b3e73...
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#37There area bunch of these services already, so is this YC doing a me too or is there something inherently different?
Yes, totally valid point. The difference I see is that we're focused on functionality that goes beyond selling / trading. I know there are quite a few options for "Do your own ICO" and stuff like that, which is not that interesting. We're deliberately avoiding things like ICO's and trading right now. Our focus is on making tokens usable today, and consistently improving the ease of use for someone that wants to use a…
But you can't avoid trading with a ERC20 token, because they are designed to be tradable. Any exchange can add the token to the supported list, and the users can immediately send the tokens to the exchange and buy and sell them.
Unless these are not really tokens and the "user/owner" can send the tokens without a centralized permission.
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#38Everything you want to do can be done on a simple database. You can mint tokens / share it / explore other tokens / message people / view feed. It isn't clear why you want to forcibly put this on Ethereum blockchain and pay a fee to do every transfer (The transaction charge currently is ~ USD 0.5-1 per transaction)
That’s a question I have too. I don’t want to forcibly put anything on the blockchain. I’m specifically curious about use cases where the decentralization, scarcity, and smart contract pieces of this can become useful. I can’t predict exactly what, but I do think those things will be used for interesting projects and our tools will keep making that easier for people to play with. We’ve listed a few examples of things people are doing above. But right now, I agree that in many ways this is less functional than a database. Right now people use it for fun, and to try out the technology for new things.
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#39I like the idea of ease of use for creating a token . But, if I sign up for your service what do you anticipate the cost of it will be per month / year for this?
Also, what are the smart contracts you use or security features that you have and can it be audited or is it a trade secret ?
Have you looked at other private ledger technologies and what do you think of those ?
Re: Launch HN: Hexel (YC W18) – Create a cryptocurrency for your community
#40Everything you want to do can be done on a simple database. You can mint tokens / share it / explore other tokens / message people / view feed. It isn't clear why you want to forcibly put this on Ethereum blockchain and pay a fee to do every transfer (The transaction charge currently is ~ USD 0.5-1 per transaction)
> USD 0.5-1 per transaction
This is absolutely not true. Gas prices have been floating between 1 and 4 gwei for a while now. An erc20 token tx may cost 150k gas so between .00015 and .0006 ETH per tx. So that's $0.09 to $0.37. A simple ETH tx is 25k gas so about a 1/6 of this. You can check ethgasstation.info for the latest standard and "safe low" gas prices.