[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes - page 302.

MyFarm

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Quote from: defunctec on January 07, 2015, 11:29:31 PM

Quote from: Jeff8247 on January 07, 2015, 10:52:32 PM

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

If we start at 1SPR min and 100,000SPR max over time MN owners would increase there masternode balance to be more competitive. So say 100,000 people put up 100,000 masternodes, with 1 SPR per masternode. If 50% of those owners put another 1SPR in their MN balance the network would kick the MN's only holding 1SPR, reducing decentralization to only 50,000 MN. That's not really a bad thing as 50,000 MN remain. Also this coin is quite hard (will become) even harder to accumulate. It has extremely good distribution, lowering the chance of centralization.
Large holders will now see huge ROI and will slowly dump over time, again reducing centralization.

I doubt one person would try to dominate a system which is reliant on decentralization. Althogh how many MN count as decentralized is subjective.

Unless I am understanding incorrectly, there will be a cap on the number of masternodes. So there would never be 100,000 masternodes.

defunctec

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Quote from: Jeff8247 on January 07, 2015, 10:52:32 PM

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

If we start at 1SPR min and 100,000SPR max over time MN owners would increase there masternode balance to be more competitive. So say 100,000 people put up 100,000 masternodes, with 1 SPR per masternode. If 50% of those owners put another 1SPR in their MN balance the network would kick the MN's only holding 1SPR, reducing decentralization to only 50,000 MN. That's not really a bad thing as 50,000 MN remain. Also this coin is quite hard (will become) even harder to accumulate. It has extremely good distribution, lowering the chance of centralization.
Large holders will now see huge ROI and will slowly dump over time, again reducing centralization.

I doubt one person would try to dominate a system which is reliant on decentralization. Althogh how many MN count as decentralized is subjective.

georgem

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Quote from: MyFarm on January 07, 2015, 11:27:12 PM

If we haven't hit a new all-time high within 30 minutes of this post, I'm taking us there. I'm giving you guys the opportunity to buy the SPR first.

LMAO. I was happy to help contribute to the (soon to be) new ATM. You take over from here!

Jesse Livermore

sr. member

Activity: 462

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Quote from: Jesse Livermore on January 07, 2015, 03:44:03 PM

Many know me from Darkcoin as a technical analysis guy....Just glanced at SPR's short-term chart on Bittrex.... Short-term moon launch looks imminent.
If we get above .00042, .0005 looks to be a lock and above that I'd expect a fast-trading, high volume, short-term mega-spike (ie who knows how high).

6 hours later...we got above .00042 and now are at .0005...We're likely on the precipice here now of a fast-moving, high volume panic-buying spree.
Sell into it? I'd say hell no but then again I'm getting more and more long-term invested with this dev, this community and this coin and i suspect many here are too, so perhaps a tripling or quadrupling of the price is in order to free up some SPR for the momentum traders who are about to discover SPR.

JL

MyFarm

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If we haven't hit a new all-time high within 30 minutes of this post, I'm taking us there. I'm giving you guys the opportunity to buy the SPR first.

NoobKidOnTheBlock

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Quote from: georgem on January 07, 2015, 11:18:21 PM

We need a bigger exchange, dammit...
Not sure if bittrex can handle it...

I'm pretty sure as the word keeps getting out and more and more SPREADERS join the SPREVOLUTION that exchanges will be adding this coin very quickly for sure

Not worried about it at all right now because I'm still accumulating more while I can

I don't care I'm all in SpreadCoin and I feel very safe saying and doing so

Cheers

georgem

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We need a bigger exchange, dammit...
Not sure if bittrex can handle it...

NoobKidOnTheBlock

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Quote from: Jesse Livermore on January 07, 2015, 11:10:15 PM

Quote from: ?? on ??

We're on BitTrex's Page 1 listing by volume for the first time.

More and more people are coming to this thread, volume just keeps trending up.

3800 SPR away from a new all-time high, which this new masternode idea of Mr. Spread's deserves AT THE LEAST.
This should be a $1 mill coin in the short-term with this new take on masternodes alone.
JL

All I can say after reading the last few pages is that I'm so happy that I have invested in this coin and like I've stated before THIS IS THE COIN for 2015! Anyone who can't see that with how Mr. Spread is planning on implementing the future features just doesn't want to make money then I guess

But I have to say I am completely blown away by the continuing growth of SPREADERS and the continuing innovation from our spectacular developer

Mr. Spread my hats off to you good sir

Keep up the absolutely amazing work Cheesy

georgem

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Quote from: gjhiggins on January 07, 2015, 10:57:51 PM

Is the argument for in-wallet encrypted messaging sufficiently compelling to justify the cost of a hard fork and a permanent inflation of the block chain?

Ofcourse not.

But who knows, maybe Mr. Spread has got some sort of craaaazy new fork system in preparation... Tongue

Not like darkcoin's spork which is the most centralized way of forking thinkable (giving ONE man control over an enforcement mechanism),
imagine what a decentralized forking system would look like. Huh

My mind is boggling...

All the Decentralization makes my head spin, I need to lie down.

Jesse Livermore

sr. member

Activity: 462

Merit: 250

Quote from: ?? on ??

We're on BitTrex's Page 1 listing by volume for the first time.

More and more people are coming to this thread, volume just keeps trending up.

3800 SPR away from a new all-time high, which this new masternode idea of Mr. Spread's deserves AT THE LEAST.
This should be a $1 mill coin in the short-term with this new take on masternodes alone.
JL

Jesse Livermore

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Activity: 462

Merit: 250

Quote from: MyFarm on January 07, 2015, 11:03:49 PM

Quote from: Cryptock on January 07, 2015, 11:00:45 PM

Anything new apart from the no pool?

A truly brilliant dev who has proven his ability by finding multiple bugs/vulnerabilities in Darkcoin code (which Spreadcoin is based upon). He is now IMPROVING upon the Darkcoin masternode system.

Basically, I'm investing in SPR in part because of the potential that it will be superior to Darkcoin. And because I am trusting more and more in the brilliance of this developer. He has coding skills, is ethical, and creative.

From here (https://bitcointalksearch.org/topic/m.10076304) to present is pure crypto-gold.

Jeff8247

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Okay thanks for the update guys. I guess i'll have to keep my eye on what Mr. Spread comes up with in regards to masternodes.

MyFarm

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Quote from: Cryptock on January 07, 2015, 11:00:45 PM

Anything new apart from the no pool?

A truly brilliant dev who has proven his ability by finding multiple bugs/vulnerabilities in Darkcoin code (which Spreadcoin is based upon). He is now IMPROVING upon the Darkcoin masternode system.

Basically, I'm investing in SPR in part because of the potential that it will be superior to Darkcoin. And because I am trusting more and more in the brilliance of this developer. He has coding skills, is ethical, and creative.

georgem

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spreadcoin.info

Quote from: Jeff8247 on January 07, 2015, 10:52:32 PM

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

The maximum amount of DM will correlate with the maximum amount of nodes tolerable before the data bloat they create starts messing up the network, AND NOTHING ELSE.
Not sure how this can be detected though...

Cryptock

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Anything new apart from the no pool?

MyFarm

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Activity: 854

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Quote from: Jeff8247 on January 07, 2015, 10:52:32 PM

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

Let's say day 1 you have to have just 50 SPR to have a masternode and there is a max number of 2000 masternodes. That means it would only take 100,000 SPR to hit the max masternode cap so it would theoretically be hit quickly. As a masternode owner, let's say you also get 50% of a block's rewards. It literally may be worth my time to setup 100 masternodes because of the ROI. Once the 2000 max is hit, other people will still want masternodes so the market may dictate that now you have to have 62 SPR for a masternode. So more SPR are taken out of circulation and the network will likely become even more decentralized because not as many people will be able to afford to run 100 masternodes at 62 SPR per node. Next thing you know, it's 150 SPR per masternode. Then 500. What will the max be? Who knows. Only the market. And in the end, the market is much smarter than an arbitary number.

gjhiggins

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Quote from: georgem on January 07, 2015, 10:33:50 PM

Quote from: MyFarm on January 07, 2015, 10:29:47 PM

Kudos to you working on all this!

@gjhiggins: yeah man, awesome wallet development, keep up the good work. I'll take a closer look.

Thanks for the kind words but 'sno big deal, I'll give you a summary preview: some eye candy, plus a nothing-special, slightly buggy implementation of a primitive IRC terminal that no-one would choose over an actual IRC messaging app.

The fact that the trading tab is limited to Bittrex cuts across the principle of decentralisation and a cool appraisal leads me to conclude that it hardly justifies the effort of including it, (I was really just checking its ease-of-use).

And, as I suspected, the encrypted in-wallet messaging uses the block chain so a hard fork will be required. Is the argument for in-wallet encrypted messaging sufficiently compelling to justify the cost of a hard fork and a permanent inflation of the block chain?

Cheers

Graham

defunctec

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Quote from: Mr. Spread on January 07, 2015, 10:29:03 PM

Quote from: georgem on January 07, 2015, 10:19:04 PM

For me as a software developer / artist, I would love the ability of someone sending me money anonymously, and me sending him information back (e.g. serial number, download link, whatever) to his wallet.
Without him having to give me ANY ADDITIONAL information whatsoever.

Mr.Spread just explained a few posts earlier that this can't work like that, you need to broadcast atleast SOMETHING additional, your address will not suffice.

It can work by broadcasting this additional information but this will require some additional actions from those who will want to receive messages, what you want is simpler though, by signing transaction you make your public key known, this should be enough to encrypt a message. But some people may send you money not from the wallet but from an exchange which will probably just ignore such messages.

If you could pull that off i would be personally overwhelmed. Digital cash must have an equally anonymous (optional) way to send a msg.

It's naive to think we can use ecash over the internet now and stay anon. If you want to buy a laptop with "Spreadsend"or"Darksend" you have to input your personal details over the internet, which then tells the world your address, name, payment method.

We shouldn't underestimate the importance of an encrypted msg attached to a transaction.

If this is to be done, after "Spreadsend" is implemented would be perfect!

Jeff8247

full member

Activity: 219

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Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

Mr. Spread

full member

Activity: 210

Merit: 100

Quote from: e1ghtSpace on January 07, 2015, 10:32:03 PM

Wouldn't the price of having a masternode keep going up then?

Yes, it will until it will reach some market-dictated price. In fact it is not a "price" because you don't loose your money, you just can't use them as long as you are running the masternode.

Quote from: e1ghtSpace on January 07, 2015, 10:32:03 PM

Mr. Spread, also would we be able to add some coins to our masternode after it has gone live to keep it in the game?

The way I'm implementing it right now, you will need to resend you funds (with some additional amount of course) to yourself. So you will need to shutdown your masternode and then start it again. This has the disadvantage that you will not receive payments for some time because there will be some period before your masternode will be elected again after shutdown.

Topic: [ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes - page 302. (Read 810099 times)