Topic: [*] 8BIT [Dark Masternodes][Anon][Roadmap Stage 4] - page 175. (Read 379550 times)

I agree that we need to determine a real goal first. But also take into account that our market will grow with us. At present rate it will take 10 years to get to 5 mln 8BIT. At that moment inflation will be 10% per year. You might say 10% that is enormous. But also consider that the coin is very rare right now.

What could we do with a coin supply of a few million coins?

Distribution favors those that run master nodes. Once the price is back to a comfortable level they will start to release coins to a wider audience. This means that it will be very profitable for early investors, nothing wrong with that because they've held the hot potatoe!

Some inflation numbers after year(x)=(1350*365/(102,000+(1350*365x))

1st year   -   82%   -   0.6 MLN
2nd year   -   45%   -   1.0 MLN
3rd year   -   31%   -   1.5 MLN
5th year   -   19%   -   2.5 MLN
10th year   -   10%   -   5.0 MLN
25th year   -   4%   -   12.4 MLN

At a marketcap of around $ 17,500, I say that our market can easy quadruple in a relatively short period. With these numbers that would mean we have 2 years to break even. If we get there sooner, thats profit!
$ 70,000 = 270 BTC
270 BTC / 0.6 MLN = 45000 satoshi
270 BTC / 1.0 MLN = 27000 satoshi

Now also take into account the models/graphs I presented earlier. (Double S & Hype Curve). I can easily see 8Bit beating these numbers through market acceptance. Once 8Bit has real value besides being profitable I can easily see a marketcap of $ 500k after 1-2 years. This would mean a price of around 190,000 satoshi at the end of year 2 or 38,000 after year 10 if market growth should stagnate. How is that for price stability / steady growth? Also a $ 500k marketcap is a very conservative number.

But first we need to get out of the "Disillusionment" so that we get into our next developmental cycle.

I agree.

I agree. Will (s)he listen to us?

That's more complex topic. Two weeks ago payout for single MN was 30% higher.  What's interesting, CRAVE inflation is very similiar to 8BIT one. They have a bit smaller reward with a bit shorter block time. So at the end of day amount of new coins is almost equal. And seems like this is not their problem. Best solution is to attract more investors and convince them to run own masternodes. Win-win. The only thing that makes me accepting reward reduction is thinking of 8BIT as very rare-coin it is now. So we might use reward reduction as a way to keep 8BIT being very rare coin. Now we have to consider, what's our real goal. Having very-rare-coin or having a bit less but still rare, more popular-coin. Not so easy to decide.

I had a little hope that masternode cost can be increased without hardfork. Nope. Different priced masternodes will treat each other as mibehaving peers thus they will refuse to talk. It will lead to random, harmful forks. It's also a bit more sophisticated to plan such change in future (in code), neither dash nor crave did it before so such simple action requires extra development. It's because masternode capability checking has no connection with block height and it has to be changed... I have just finished making this connection. So we can change price from certain block height and set a transition period (few hours - ~500 blocks?) within which both prices will be accepted.

I think the masternodes should be more expensive, and that the dev should listen to the community and not only his ideas. The masternodes are paying out too much 8bit for how little they cost to operate. =/

Although i think the inflation is a bit high at moment. I would like to expose the idea of an optional deflationary system.
There are examples as viral or gambit, which propose a burning system while offering a service (not that far, than what we have been talking here, services for masternodes).
That creates pressure into the market, and in the long haul, if the service gets a userbase, the growth should be steady and wealthy.
On the other hand if no users are attracted by the service, it will be useless

Timeout. I expected higher activity, but it's not most important thing here. We go SLACK - group is created and maintained by niki25. Contact him get an access. I am already there.

I'm not saying killing inflation is a myth

I am saying that inflation itself is "the" myth,
a fixed rate interest will converge to 0%!  (relative to total supply)

here are some graphs/models to represent what i mean:

Supply increment. Increment/total supply converges, and in time will approximate 0%


Double S Curve. Projects and businesses can have many cycles. Imagine the legs and number of cycles 8Bit could have!


Hype curve, look what happens at every cycle... Now image what a linear supply growth could do instead of an exponential one. Every cycle inflation will get a bad reputation because of its exponential sibling. Inflation is not our problem, inflated expectations is.

WE GROW

I can sell some....a little ...

I agree that it's worth considering to promote buying own masternodes instead of limiting supply. Newcomers have to see and get their earnings.

I also agree that killing inflation is a myth a bit. At this moment we need rather sell walls to let whales buy cheap. I would rather say that masternode operators are pretty greedy that they don't send at least part of their earnings to market to let newcomers buy larger amounts at current price.

Sure we can say why they don't buy what is offered. ASKs are so small that buying larger amounts would move a rate to a moon without a non-speculative reason (new features, new adoptions etc.). It might sound weird for some, but I don't like P&D crap coins so do not expect I will support any market abuse. I love stable and STRONG growth.

I think we should focus on advertising masternodes to get the right balance between number of masternodes and coin supply. If number of masternodes will grow, inflation should not change to keep running masternode profitable. If number of masternodes will stay constant or decrease we should beat inflation to do not let small group accumalate too much without real effort. Morever, I have technical solution for it although it's not a time to disclose it. Yet.

imho pay-out is good as it is, 888 8BIT per mn would be cool though. Project pay-out should be considered along with project scope & lifecycle. The lower the pay-out the less time there is for early investors to build their position, and for the developer to deliver. Once investors are "leaving" the project will be like a desert walk. With leaving I do not mean the core followers, but the investors that provide the affluence with which developments will proceed more smoothly.

We need a bit of coin supply to grow the market as well!

To combat the "inflation" I refer to my earlier post:

Masternodes work awesome, their number grows constantly, nothing to fix. I assume you mean fixing inflation by reducing masternode profits or increasing masternode entry level.
In that case I have made proof it's not big deal on our new github on freshly created alpha branch

https://github.com/8bit-dev/8bit/commit/60c1141682d6a09442e9668dbdd51e6335e97515

this commit sets up masternode cost to 888 8BIT, reduces hipos block value to 0.65 8BIT with 0.44 as masternode payment with hardfork at block 288888. So simple.
Those values are pretty random, just to show you how important right and widely agreed decision is required. We can't contact exchanges again after 2 weeks with YET ANOTHER MASTERNODES PAYMENTS RELATED hardfork. I have already suggested how such important values should be chosen in one of my previous posts. We have to change it with full confidence we are all happy with decision.

i will give the reddit page to the devs

Great. I think its time you start fixing the issues here. How about those masternode fixings?

Additionally, I guess we should have at least 2-3 admins there.

I dont have time to set up the heroku app for autoinvite, but if anyone has time to set it up, will be much faster than sending invites manually

Yeah!

crypto_graphics Cool, so you will be our designer #1. I am waiting for your public statement allowing me to use your logo for 8BIT project. Let's fix what was wrong by doing everything transparently now.

ShopemNL great, thank you!

niki25, awesome, I am sending you PM with invitation request right now

I see SLACK channel will be our meeting place. C'mon IRC fans, there's still time to vote. Besides you can use IRC client to join SLACK channel.

I have created the slack: https://8bitteam.slack.com/
When everyone is in, we can structurate it into different channels.
Also i would like some members to be admins of slack, as i dont have the i would like to manage the slack.  

Well said! I can do hosting, ssl if needed. Do some programming and webdesign if needed.

Totday i will put the 8bit node on the coinnode website.

Well said! I agree with this.

Yes, I was the old webmaster. Actually there were two, it was Starin and I.  Truth be told, I'm not sure I'm the right guy for handling a website, my web skills go no further beyond than wordpress.  I would be better utilized in the graphic/design department.

I think I would be willing to help out but only if I am in direct communication with you and the rest of the team.  Everyone on the team will have direct access to a Slack Channel that reports progress, vision and ideas.  Between the team, there will be no secrets and everyone will be a first name basis.  Now if anyone on the team wants to stay annonymous in the public eye, thats fine but never between the team.  You see I don't want to see anyone's time wasted.  Seriously, the previous Dev left a bad taste in everyone's mouth and we're all not convinced that your not the previous asshole DEV that abandoned us holding the bag.  I'm not going to let my time be wasted on a project that is being built up to be abandoned. 

That being said, I say let's go for it!  Let's recruit a couple guys, get a Slack room started and see what we can do to revitalize this crazy idea that we call 8BIT!
And as far as the logo image, your welcome to use it.