Proposal to Improve CHC Price and Viability
Each 90 seconds, Chaincoin network creates a new block with rewards as follows:
2 CHC -> Master Nodes
6 CHC -> Miners
This is simple and elegant and something that should not be meddled with lightly, so please understand that I'm not making this proposal in a flippant manner, but rather thinking about how to change the narrative to allow CHC price to rise.
DASH has implemented a revolutionary idea: decentralized governance. With DASH, part of each block reward is allocated to a treasury that builds up over time. In DASH block rewards are allocated as follows:
45% Miners
45% Master Nodes
10% Treasury
The treasury can be used for anything, but one important use is development. At this time, our lead developer brakmic has stated flatly that he doesn't want to be paid anything, that he works 100% free (open source), so development cost isn't currently a huge concern. However, treasury funds can be used for anything the community deems appropriate, and DASH has used this to help catapult the coin to higher valuation using a time-tested technique called marketing. Note that DASH is supporting a lot of podcasts, and has commercials. CHC could follow in DASH's footsteps, using treasury funds to do good-old-fashioned marketing, both traditional (e.g., radio) and content marketing on the web.
CHC could become the Litecoin equivalent of DASH
This is a reasonably good elevator pitch, and answers the question "Why CHC?" I believe that achieving modest and achievable recognition as the next-best-thing-to-DASH could realistically push CHC valuation to $10 dollars or higher.
But how would this be done? Well, my understanding is that it would require changes to the CHC consensus rules. Technically, it would require brakmic and his helpers to port the treasury governance subsystems from DASH to CHC (assuming they are not already present), and a majority of the nodes would signal their agreement by running the new code.
My recommendation would be to do this in two steps. The first step would be to enable the DASH-like governance system to give us a structured way of voting on features and initiatives without doing anything to the mining and master node percentages. Once that system is in place, we could start taking proposals for how to modify the percentages to introduce the idea of a treasury. To be fair, it might make sense as follows:
20% Master Nodes
70% Miners
10% Treasury
This change in allocation would distribute the pain equally between Master Nodes and Miners, giving 10% of all block rewards to treasury. If my math is right, this change would start accumulating 576 CHC/day into the treasury, which should build up quickly into a war chest.
There are two benefits to doing this. First, we can use treasury funds for marketing and for any programming that brakmic isn't willing to do for free. This is clearly an advantage, and DASH has already proven that this isn't blue sky, it really works.
But perhaps most importantly, such a change to the long-dormant CHC consensus rules would itself be newsworthy, disrupting the status quo. Such a change would be perceived favorably by the crypto community, and that new faith would be reflected into the CHC price. It would signal that CHC is no longer a dead coin (one of the most popular objections), but a new coin, a coin with a plan. Even the potential for such change could affect the narrative, giving the price of CHC a better chance to rise.
There is talk about this since May when the idea was to move to 45/45/10 and also to implement v0.12 Dash which supports the budgeting system. But then there was a change and team has stopped working on v0.12 until they resolve all the bugs of current v0.9. Last we heard from roli on slack that temporary solution might be to move to 35/65 nodes/miners. Completely agree with you that budgeting/voting system and especially dev fund is the most important update team can make. That money can then be used to further develop the coin and pay for services like for example processors like coinpayments.net . Which charges $7000 to get new coin listed but would give CHC a real life use in all online shops that have coinpayments. We can't expect roli to pay for everything from his pocket.
of CHC has been credited to my MN wallet.