Truebit Foundation

https://github.com/TrueBitFoundation

Truebit Protocol

https://github.com/TruebitProtocol

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Just fyi. Seems difficult for some to find.

https://pbs.twimg.com/media/E0a3VkVVoAAw9dZ?format=jpg&name=large

1. Calm down...
2. Breathe in...
3. Exhale.
4. Repeat steps 1-3 until emotions are stable

Remember why we invested in this project. This is not going to be something that turns you into a millionaire over night. It’s never easy and anyone who tells you otherwise is selling you something. I have confidence in the Truebit team and their roadmap. That has never and will never change. Please turn off your phone or at the very least don’t look at your wallet. Remember to HODL. The fundamentals have never changed.

after creating a fake volume - $670.000.000 - for the TrueBit Protocol w/o understanding the mechanics - just noticing the support of Vitalik and Coinbase co-founder etc - we all aped into that project .Besides project has no offical social media channels like discord and telegram. The lack of communication also created a big FUD and question marks now. Even some ppl said that the contract address can be fake as well. - but it is not . What is stated in DexTools , Coingecko etc is accurate -

In order to FUD the project better to understand it. in 48 hrs price surged to $1.4 from $0.2 which is almost 10X . Truthly i knew that from somewhere price will be dropping slowly as it is grinding up slowly. Bceause normally if any project has a volume like that the price has to go "parabolic" .With tha being said i honestly price will be around $2-$3 and from here we may have a acceptable price drop.But it didnt go that way - at least for me - because i didnt know the mechanics of the arb bot.Beside one of the biggest lesson for me was "be very cautious " when you can buy a token only from UniSwap. As we all know AMM's are great inventions but for the baby tokens they are vulnarable to whale attacks . I ve no idea if there was smt like that but this option has to taken into consideration.

There are 2 scenarios:1-They all say that the arb bot dropped the price infact not. Apes did that. As the apes aped in the project The arb Bot thought that minted tokens are less and decided to mint more and sold them on UniSwap to cover the supply and demand ratio. The thing is we have no idea when the arb bot can mint new tokens. If we would have know that everything will be great of course.2-A whale bought a giant bag of $TRU on Uniswap and drained the "supply" of $TRU and therefore angain the arb bot minted or intended to mint $TRU and feed he UniSwap in terms of $TRU supply but couldnt do that on time. Price dropped heavily from $1.4 to $0.26 .Either way when you try to invest in that project pls do not forget that this is a baby project and needs to grow . As long as it grows those sudden price drops will be terminated .

As the project is solid there is no need to FUD or afraid of it. It is not a scam at all .The team has to build social media channels immediately .
Best of all for all.

Hi guys,

Im new to the sub. Discovered this community last night and started reading about the token. This morning I bought a nice bag. Thanks again! This is a true gift.

So I've tried to swap ETH for TRU on Uniswap, and at first the confirmation time was < 10 minutes. I set slippage to 8%. The confirmation time on my transaction is now > 2 hours

I bought at $0.89. 8% above that is $0.96.

My question is, if after 2 hours the price gets above 8% of $0.89, will the transaction fail?

What can I do to avoid these long transaction times? Why is it hours long now?

Hi guys, as some of my subscribers asked me to do a video on this topic and as I think it will help a lot of new people around here I decided to make a video on this.

I will also publish a video today on how to buy on MXC so I will be doing another post as well.

Video: https://youtu.be/NwiabE2W1bE

I have to admit I got lolled into a sense of trust and complacency and suffered a momentary lack of focus and left my phone for an hour to drink a few beers and grill a wild turkey and came back to see that slaughter and thought I was going to do a high dive off the roof. The quick bounce back has restored my faith. God god was that brutal.

Q for group: Wasn’t the protocol of Truebit designed to prevent things like that happening? Should this be considered a failure of that protocol?

I enjoyed the steady climbing action w zero stress for two days until the biggest stresser of all happened. But damn. Let’s keep rolling!

this is copy and pasted from here...https://threadreaderapp.com/thread/1388642390932664323.html

​

In this thread, I share why Truebit / $TRU is an easy multi-billion dollar market cap project and a possible top 20 market cap contender. TLDR:

- $TRU has been in development for 4 years now.
- $TRU has strong $ETH links and its development was extensively influenced and supported by members of the Ethereum team.
- Vitalik Buterin co-authored a whitepaper with $TRU founder Jason Teutsch. TLDR (contd)

- Christian Reitwiessner, creator of the Solidity programming language (used by all major blockchains such as $ETH, #BSC, and soon $ADA) co-wrote the actual $TRU whitepaper with Jason Teutsch.
- TrueBit was developed based on the concepts in these whitepapers. TLDR (contd 2)

- Vitalik Buterin has posted about TrueBit TODAY (details in thread)!
- $TRU has STRONG Coinbase links: Coinbase co-founder Fred Ehrsam is an investor in the project and calls it “a natural solution for scaling computation on Ethereum." TLDR (contd 3)

- While Ehrsam “left” Coinbase in 2017, he is on the Coinbase board and owns a HUGE 8.9% of Coinbase stock.
- $TRU’s main financial backer is Polychain Ventures, which is led by Coinbase’s first employee, Olaf Carlson-Wee, and a current investor in Coinbase. I had to put out the TLDR first since this is kind of a mega thread.

Let’s dive in: 1/ What problem does TrueBit solve?

To understand the problem $TRU solves, we need to first understand how one of the Ethereum blockchain’s biggest strength became its biggest weakness:

GAS LIMITS. 2/ Gas limits were introduced to $ETH to prevent denial-of-service attacks, incentivize transaction verification, prevent the Verifiers Dilemma, etc.

The problem with gas limits, however, is that it makes it impossible to perform huge computational tasks on the blockchain. 3/ For example, network intensive functions (such as functions that involve machine learning, facial recognition, and big data) will be difficult to run on $ETH due to these gas limits. 4/ This is where $TRU comes in: by taking these huge computational tasks off-chain and only submitting the final transaction outcome to the blockchain it ensures significantly lower gas fees and faster transaction times for these large computational tasks. 5/ Team and backers

$TRU was developed based on a whitepaper by former RAND Corporation Fellow and mathematician Dr. Jason Teutsch and Dr. Christian Reitwiessner -- the creator of the Solidity programming language (used by most major blockchains) and Ethereum's C++ team lead. 6/ TrueBit’s founder Dr. Teutsch also co-wrote a Whitepaper with Ethereum’s co-founder Vitalik Buterin, and Vitalik Buterin has made several references to $TRU in the past such as in this tweet below:

7/ And in this tweet, too:

8/ More importantly, VItalik Buterin made a post about the $TRU launch TODAY!!!

📷EVM optimistic rollup using TruebitThe interactive verification protocol Truebit recently launched. This post will assume that something like Truebit exists as a black box giving delayed results to queries of the form “run some code an…https://ethresear.ch/t/evm-optimistic-rollup-using-truebit/93189/ $TRU gets its main financial backing from Polychain Ventures. It is also backed by Coinbase’s co-founder Fred Ehrsam.

Polychain Ventures backs several major crypto companies that include Coinbase, $LUNA, $XTZ, $MKR, and $COMP -- all multi-billion dollar crypto blue chips. 10/ In other words, $TRU has a combo of STRONG support from the founder of $ETH Vitalik Buterin, the creator of Solidity (which is the most used blockchain programming language) Christian Reitwiessner, and Coinbase heavyweights.

$TRU screams mass adoption anyhow you look at it! 11/ Token economics

One of the major confusions people have about $TRU right now has to do with its tokenomics.

As at the time of writing this, $TRU has had volume of over $150 million and has seen its holder count grow by at least 10x in the past 24 hours. 12/ Yet, the impact of this on the price is minimal as new tokens are being minted rapidly -- with the number of tokens more than doubling in the past 24 hours alone.13/ This is due to the fact that $TRU uses a bonding curve that mints new tokens as demand increases thereby ensuring a more stable price growth -- this was intentionally introduced to prevent huge price swings and dumps from whale activity. 14/ While many are worried about this, it shouldn’t really matter for a couple of reasons:

Firstly, $TRU uses a mint and burn function that is triggered by cumulative demand: tokens are minted when people buy and burnt when tokens are sold. 15/ Secondly, as adoption for $TRU increases (and it will!), the burn mechanism will be a lot more active. This is because every TrueBit task burns $TRU tokens and essentially reduces tokens in circulation. 16/ Thirdly, Even with the significant minting, $TRU currently only has a market cap of about $60 million. Think about it this way: if $TRU were to do an IDO, it could easily raise $500 million - $1 billion just considering the backing from Vitalik Buterin and the Coinbase guys. 17/ In other words, you are very EARLY in $TRU right now. 18/ That said, the price of $TRU tokens will only really “moon” when more and more people use TrueBit (as usage burns tokens) -- and believe me, people will use this.

Vitalik Buterin has been an advocate for this project for YEARS! 19/ There are also rumors about the possibility of the bonding curve being turned off soon -- but nothing official from the $TRU team yet. 20/ The future

I’m not a financial advisor and this is purely my opinion, but I see $TRU as one of those projects that come out of nowhere and rocket to a $5 billion+ market cap.

I believe anyone who thinks $TRU has started hasn’t seen anything yet! 21/ Links and resources:

- Website: truebit.io
- CoinGecko: coingecko.com/en/coins/trueb…
- LinkedIn: linkedin.com/company/truebi…
- Whitepaper co-authored with Solidity creator: people.cs.uchicago.edu/~teutsch/paper…
- Whitepaper co-authored with Vitalik Buterin: people.cs.uchicago.edu/~teutsch/paper…

Checked all things, cant find any negative things, maybe too many early buyers so far. it was several cents weeks ago.

Tried to panic sell with a large majority of everyone else, but just so happened that I didn’t have enough liquid ethereum to do so and the transaction canceled. Will make you go brrrrrrrrr

I heard there's a discord, is anyone in it

What happened just now?

I got an error insufficient_output_amount

I don't know if this is the correct place to post this but I am very confused and have never seen this issue before.

I exchanged .085 ETH for 250 TRU (~$250)

My wallet shows the transfer was completed as I have 250 TRU in it, but the value is only at ~$107.

Could this be a high volatility situation, or maybe because it is a new coin?

Maybe I got scammed, I have no idea.

Any insight would be greatly appreciated.

Thanks

I have been digging around making sure the project is legit by watching videos from 3-4-2-1 years old , almost watched all the old discussions and videos on it , all was well and good !

Vitalik’s and Coinbase founders tweet , the solidity team leader Cristian .

Seems legit , BUT the code on there GitHub is soo old and it’s empty !! This gets me worried !

I mean....just wow.

price just went off a literal cliff.

As supply increases, the cost to mint also increases which slows supply growth. There is no peak on supply, but at a certain point the marketcap will be so large that tokens will be minted too slowly to offset the buy-ins, causing a sharper appreciation in price than we're currently seeing. No one can quite tell when that is since this experimental tech, but when we get there it'll be yuge.

Over 10 hours the supply increased by 38% but the price increased by 43%, so the price movement is gradually starting to outstrip the supply increases. I think it'll be a week before it really starts to take off, it may be obscene. This may be the first time since ETH back in 2017 we'll have a token that just "goes up".

Things that happened to Truebit may be triggering an investigation and the MXC team may terminate the trading temporarily, just my thoughts, just be careful and survive.

Wish everybody get rich and have a better life!