For some time now some or someone has been bloating Telos blockchain, possibly by purpose. This has been done by simply making a whole load of small transactions for each block.

Thing is, even if you send a bigger sum but it comes only from one wallet it takes only a small amount of space since the situation is basically the same as if you would be using pen and paper.

“One Million Euros from Pascal to TELOSNEWS.COM” doesn’t take much space from paper.

But:
“1 Telos to ZenH2O”
“1 Telos to Tybiboune”
“1 Telos to Lucky7”
“0.01 Telos to BitcoinBond_007 (he has enough Telos already)”

Takes much more space from paper, even moved sum was only 3.01 Telos (which will soon be more than the first examples Million Euros).

This same is also true for Blockchain. For every time someone sends Telos to some other address, there is always a mark of it. And if you own more than one address, you can keep sending Telos between your own addresses and Blockchain keeps bloating.

Actually, at the time of the last fork, Telos Blockchains’ size was about 4 Gb, now it is about 6 Gb. So it does matter.

To get rid of this most likely intentional bloater, there is now voting on Patreon with basically two options.

The first one is to increase the transaction fee. I’m actually not sure what is the current fee, but by a quick look at Explorer, it would seem to be something like 0.0001 Telos per Kb.

To use the pen and paper analogy, the more paper you need to use to write all the transactions, the more you need to pay since paper costs something for each line.

One transfer from one address to another takes roughly 0.25 Kb of blockchain space, and currently you would pay roughly 0.000025 Telos from it.

The first suggestion is to increase this fee somewhere from 1 – 10 Telos per Kb.

This would mean that transfer from one address to another would still usually be ridiculously cheap 0.25 to 2.5 Telos, which is nothing for a regular user who keeps sending bigger sums at once from one address to another.

However, for this bloater, who in one example block I checked from explorer where he made 2000 transactions with a total of about 100K Telos, this bloating would suddenly cost him about 500 – 5 000 Telos each block he does it. That is a 0.5 – 5 percent fee, and if he does that 20 – 200 times, he be out of Telos since all of that 100K Telos would have been burned and he couldn’t bloat the chain anymore.

The second option is to reduce Zero Fee Transfers. I have to say I am not entirely sure what that means, since I would imagine it simply means that each block has some certain amount of zero-fee transfers.

However, if this is the case, then I don’t really see how this would help against the bloater since as I mentioned, the example block I looked at had more than 2000 transactions. So even if there would be 100 zero-fee transactions currently, bloater is still willing to pay for the rest 1 900 transfer fee and it doesn’t seem to be a problem for him, and why would it with this low fee we currently have.

It was not mentioned how much time there is to vote, so better cast your vote sooner than later.

Last sunday our dear old Pascal made an announcement. And if you ever looked for some close to free money, you better read this.

Only on Sundays, and only until the price of Telos hits 2 cents (it wasn’t clarified did he mean Euro or US cents, I just assume Euro cents, unless he meant Rouble cents perhaps), you can OTC buy from him Telos for the current price shown at Coingecko, and get 20 percent extra Telos.

These Telos can be bought against lots of different currencies, at least following were mentioned: BTC/ETH/ZEC/XBTX/EUR/USD

But minimum buy is 100K telos, which in practice I suppose means 120K Telos as you would be getting the extra 20K on top of the 100K.

This means that you can buy 120K Telos for the price of 100K Telos, and then instantly sell those 120K Telos for that normal price, making you 20 percent extra profit, as long as there are enough buyers on market.
And as long as you and Pascal are quick enough, you can then again buy 120K Telos batch from Pascal to make even more profit that same day.

As long as people are willing to take advantage of this, it should increase the price of Telos to 2 cents.

To get on to this offer, first of all, make sure it is Sunday, then go check the price on CoinGecko, and then go to Discord and DM GrumpyDev with your OTC Buy interest of at least 100k Telos, for that is what the OTC stands for: “Off The Counter”, meaning it is done outside the exchanges, as in usually meaning directly from one guy to another.

By the way, if you ever thought of setting up Telos Masternode, now would be an excellent time. Just pay the price of one node, get it set up, and have still 20K telos to play with. That is like instant one year profit already.

Well, that took some time.

More than a month ago TELOSNEWS.COM warned you about doing Withdrawals and Deposits to and from exchanges until Telos fork was done.

And, while it started from Graviex, it also ended with Graviex. For Graviex was the first one to hold the drawing/withdrawals, as well as the last one to fix them.

Other exchanges had actually updated and fixed everything even weeks ago already, but I didnt want to tell you it is okay to withdraw/deposit until it would be safe for every major Telos exchange to do so, since after all, TELOSNEWS.COM is also meant for the lazy people who just want to know if it works or not, and nothing between.

And so it happened that someone had not read his TELOSNEWS.COM properly and decided to make a withdrawal from Graviex to his wallet, and lucky to him, and the rest of us too, it actually happened successfully. Us hence knowing that Graviex Telos deposit/withdrawals are working again.

Time for some trading again people!

A couple of days ago it was announced and also already the first one held of a Piggydrop where one lucky Piggybank, Bluebox, or Greenbox owner can win 10 000 Telos, and this Raffle is currently going to be held weekly for now.

To join this Raffle requires you to first of course to own one of the Bluebox, Greenbox, or Piggybanks, for example the Virtual Piggybank I yesterday mentioned would do. Then in addition to that, you need to go to Community Discords bb Piggybank owner channel and tell that you are one of the Bluebox/Greenbox/Piggybank owners and wish to join the Piggydrop raffle, and that’s it, then you are set to once a week have a chance to win 10 000 Telos, at least for now.

When you put Piggybank to a cloud and get a Remote Desktop Access to it, what do you get?

Well, I admit I at first missed it myself since I was just looking that you are getting a Piggybank on a cloud with a remote access, which is exactly what it is, but what I missed at the start was that there is actually a more familiar name to this kind of access called Virtual Computer or Cloud Computer or Remote Access Computer or…

And when I realized that, I understood what a great deal here is on offer for Telos users.

For only roughly 100 Euros with the current Telos price, you are getting a lifetime Cloud Computer access. This is dirt cheap. Or I would actually argue more expensive than any other deal, for, after all, next day you could have sold those 35k Telos for 35K Euros. So you decide if it’s dirt cheap or extortion. Is it 100 euro bargain or 35K Euros of lost profit.

A couple of years ago I was myself looking at getting a Remote Access Virtual Computer since I was having difficulty getting connected to some specific websites, and on holiday vacation we noticed the vacation place had an excellent connection to those websites, so I started looking at getting Virtual computer from that precise location, and I did find they were for rent, but the price was much more than the one-time payment of 100 euros, for it was much more than that each year.

If you are asking from me, this a real killer deal for anyone already owning one of the Telos products that lower the price to 35K Telos in case you are looking for a Remote Virtual Computer access. I would have jumped to a deal like this couple of years ago had one like this been available.

In addition to this Virtual Computer, you could use this simpler way too. For one thing you could do is to simply use this as a wallet for different coins.

The good thing about this is that what I have learned when using my own Windows machine as a wallet, sometimes something might cause some unexpected behavior, for example, my Antivirus decided to automatically erase my wallet.dat file, since it decided it was a suspicious file (I guess it figured Telos price was suspiciously lower than it should be). Well, good thing I had a backup, except it deleted that one too. But luckily I had also one file named differently than wallet.dat, and that one my antivirus didn’t recognize.

Anyway, that is just an example of what could happen, and one way to likely prevent something like that is to use Virtual Piggybank as your wallet machine.

And as long as you don’t use it for anything else but as a wallet, you are likely going to be able to avoid all the hackers getting into your computer to steal your wallet.dat files, etc.

So it can be pretty good solution from security point of view as well.

Not to mention that part of the service is that every 30 days there will be a backup done of your virtual piggybank, so even if something nasty would happen, you wouldn’t lose more than 30 days of stuff done (although I still recommend you make backups for yourself manually too, especially since the newest auto backup will replace the previous one always)

The next possibility, which is also interesting from a cost point of view, is that you can actually use this to mine some coins the same way you can use the previous Piggybanks that were sent to you.

This means that basically you could buy this already just in case you happen to ever need a virtual computer, and while waiting for that, simply use it for mining, and at point you finally need a virtual computer, you might have actually made more money back than you ever used to buy it.

All in all, a very interesting product for many different needs, even at start it doesn’t seem like much. Just another piggybank until you realize it isn’t.

Now do notice couple of things however.

First of all. Sad thing is, if you do use this as your wallets, it, unfortunately, works the same as with your home computers in that you do need to update the wallets yourself. ARES will simply provide you with Piggybank and access to it, but other than that, for security reasons, they won’t be able to touch your virtual machine, so you have to touch it yourself, including updating your wallets.

But at least Virtual Piggybank does come preinstalled with XBTX and TELOS wallets, so the first time installation is saved from you.

Also, the Operating system is Ubuntu 20, which might be good or bad, depending on your taste. I would myself have preferred AEROS.

But other than that. What a great deal!

The pricing starts from 35K or 150K Telos. Idea is, if you don’t own any Telos product suitable for discount (Piggybank, Bluebox) then the price is 150K Telos.

If you do however own Bluebox or Piggybank, then the price is only 35K Telos (dirt cheap, except of course you are losing huge profits that you would have got by selling those Telos a week later).

There are currently three different options. Piggybank S, M, and L, S giving the least and L naturally the most.

S is 35K/150K and includes 2.6 GB Ram and 60 GB Hard Disk space and 1 Virtual Core,

While L version is 80k/250K and offers 8GB Ram and 250 Gb Hard Disk Space and 2 Virtual Cores.

35K is actually not even the cheapest price, but there are some other discounts available too, like if you are a Bitdorado Premium Member. But you can find more details about those from Peertoro.eu Virtual PiggyBanks order page, where you should anyway have hurried up already at halfway this article.