Topic: [ANN] Terracoin (TRC) - Est 2012 - page 95. (Read 408855 times)
How much funds do you estimate that will be necesary to implement dash masternodes into trc ?
Personally I'm way too lazy for any voting if it does not concern my everyday life. Crypto should be easy to use and effortless, I think.
At current price, it only costs 1.73 BTC (1800 USD) a month for the mining rewards. This is very cheap. Even if we have 10 people want to invest into TRC, 180 USD a month is too cheap if they want to have an insurance of the future. So calculate yourself. As long as the project can survive 10 years or 100 years, it will have a bright future. It already survived 5 years.
My idea is that we can just wait, if the price is low, it will attract users and even developers, they can buy it and then improve it.
The only thing we need to care about is the security, we should care about the security of the network, the security of the exchanges, the security of the wallets/clients.
Dash has been designed well, but followers will change the economy? I doubt that. The crowd will always go for the first winner. Just like Bitcoin, Ethereum or Dash.
My idea is that we can just wait, if the price is low, it will attract users and even developers, they can buy it and then improve it.
The only thing we need to care about is the security, we should care about the security of the network, the security of the exchanges, the security of the wallets/clients.
Dash has been designed well, but followers will change the economy? I doubt that. The crowd will always go for the first winner. Just like Bitcoin, Ethereum or Dash.
I understand why people are against adopting some of DASH’s code, but it all comes back to this.
I cannot attract people to the Terracoin Foundation with out token payments.
I cannot do this alone, and the donation model is not working.
We have to attract enough people to invest in and buy 432,000 TRC a month, regardless if we use the masternodes idea or not, just to keep the price steady.
To increase the price we need to improve the code of the wallet, the website, the marketing, etc.
This cannot be done without attracting valuable team member to The Terracoin Foundation.
The best way to do this is to adopt the DASH decentralized governance model. We can vote to pay for the core team, and you can suggest your own ideas to get implemented without me shooting them down because I don’t have time.
Does this mean that Terracoin is just a clone of DASH?
Sure, as much as it is a clone of BTC.
But without a steady team of people working to improve Terracoin, we can’t move away from being a clone of both coins.
We need to innovate and come up with our own ideas, but we cannot do that without a team of dedicated people working towards a new future for TRC.
This is the first step to attract people to accomplish this.
We can move on to new ideas from here!
I didn’t know any other coin was following in DASH’s footsteps, but it makes sense.
I also didn’t know anything about DASH pricing when we started talking about this.
TRC cannot implement anything new without a dedicated core team, and I think this is the best way to get people to help out.
Donations and project pay isn’t working.
Once this is implemented we can find our own way to new and better ways to make TRC great!
+1
I think Terracoin should became most famous communityovertaken coin and the best way to promote it is to establish some community-driven funds. Like charity initiatives, science funding, promotion bounty campaigns, ect. We might also consider to help some fake or failed ICO victims.
I think making TRC a coin that donates to charities is a great idea! You should put in a proposal when we move to the DASH decentralized concept.
No one will donate to anything otherwise.
The reason other altcoins are copying the decentralized governance system that DASH implemented is because it is a logical and necessary step in the evolution of a decentralized cryptocurrency. Because if you want to grow the ecosystem you have to incentivize people to participate. I think DASH has recognized that and it is the main reason they are exploding.
By the way, we started talking about this before the doubling in the DASH price. Not saying it is not in a bubble right now, but I think the price was bound for a correction upwards.
Yep!
You need to research what you are talking about before putting pen to paper. CRW is not a copy of DASH, in fact, the masternode portion of CRW is to be utilized for an application layer, they are removing darksend in order to apply that layer. So no, not all alts are copying DASH "right out of the box". They are incorporating open source aspects of DASH into an already existing product in order to expand on it. After all, you have the same complaint for dash or litecoin copying bitcoin's codebase? That is where almost all sha256d alts come from is that project (yes, I know that dash is not sha256d but is in fact x11 .. so what, they still used code from bitcoin core).
This is kind of what I am talking about. CRW is using the masternode concept to do something else. With the masternode concept working we can decide on and make other things happen. As long as we can get a good team together, which requires the masternodes.
Also, damn, CRW is really similar to TRC. I wish we had joined forces instead of having two different coins! Since that has happened; let’s be friends!
My research is my personal experience. I mined CRW from it's very beginning, but I stopped mining it when the reward went to only 40% due to the masternodes wanting payments. Masternodes make mining a coin pointless even if it is merge mined due to the low reward.
I'm a miner, so I support mined coins - I'm not interested in anything else.
I am not sure I understand this. Why wouldn’t you merge mine a coin even if it has little value? If creating masternodes doubles, or triples the price of a coin then it seems like you would always want to mine it all the more.
Am I missing something?
Thank you very much for your research, I think we know what should be done to create an TRC/EUR or TRC/USD gateway. Of course we are interested to cooperate with everybody who is interested to cooperate. And we don't believe into a voluntary cooperation so every effort we'll be paid.
The idea to ask TRC Foundation to be an escrow was born because we wanted to find the way to help the TRC community and to sponsor TRC Foundation.
In fact we are ready to finance the masternode system creation, but we think that the investment should bring some profit, so we invite everybody to think about what can be offered to those who finance the development of the TRC.
Maybe we can think about some discounted masternode reserved to those who has invested into their creation.
Having said that, I personally believe that we have to choose from one of three possible options:
1) Or we just copy the BTC development without changing anything. So one day the TRC will cost a 0,5 BTC, whatever BTC will cost.
2) Or we try to jump from one successful altcoin to another. So maybe we'll do better than BTC, or not.
3) Or we try to be ahead of the others.
I think that copying others ideas without at least trying to improve them well head as nowhere. We need to become leaders if not one day TRC may disappear. That's why I was thinking about a better governance than the DASH's, for instance.
So I'd like to understand better, if anybody can explain it to me. If we do not use the anonymization features of DASH what will the masternodes take their money for?
Another thing that is not clear to me what does it mean that the masternode will cost 10.000 TRC and it's set up will cost 100.000 TRC?
Yeah, so that is why the donation model isn’t working. If people think they should get an ROI donating to an open source volunteer coin then it will never get donations.
1. TRC is never going to be worth .5 BTC without a team of people working for it, and we cannot attract a team without paying them. TRC is stagnating no matter what I do because I don’t have the time to work on it all the time. So we have to get a team and the only way to do that is the masternodes/decentralized proposals.
2. If we get a dedicated team and decentralized management we won’t have to copy and paste our future. We can make our own!
3. See 2.
The masternodes will enable instant send, and only masternodes can vote for the proposals.
Sorry, I wondered if I was using the wrong word in that sentence.
What I was talking about it that in the first month if you have 10,000 TRC and you set up a masternode and nine other people do it then only a 100,000 is pulled out of all of the exchanges.
The idea behind starting at 10,000 TRC is to keep some whale from setting up a 100 virtual servers and ruining the voting.
And if only 100,000 in the first month is pulled out of the exchanges then the price won’t go up an insane amount.
It is better to have a steady climb with lesser bumps.
Does that make sense? I am open to new ideas.
I cannot attract people to the Terracoin Foundation with out token payments.
I cannot do this alone, and the donation model is not working.
We have to attract enough people to invest in and buy 432,000 TRC a month, regardless if we use the masternodes idea or not, just to keep the price steady.
To increase the price we need to improve the code of the wallet, the website, the marketing, etc.
This cannot be done without attracting valuable team member to The Terracoin Foundation.
The best way to do this is to adopt the DASH decentralized governance model. We can vote to pay for the core team, and you can suggest your own ideas to get implemented without me shooting them down because I don’t have time.
Does this mean that Terracoin is just a clone of DASH?
Sure, as much as it is a clone of BTC.
But without a steady team of people working to improve Terracoin, we can’t move away from being a clone of both coins.
We need to innovate and come up with our own ideas, but we cannot do that without a team of dedicated people working towards a new future for TRC.
This is the first step to attract people to accomplish this.
We can move on to new ideas from here!
Can't say I'm happy to see TRC follow in the footsteps of a glut of other altcoins in trying to copy the DASH bubble in the search for a wider userbase. DASHS, Scryptdash, CRW & others all copying DASH & now TRC? - care needs to be taken before following the crowd. It's pretty common knowledge that DASH has a hidden premine, meaning it's open to false P&D by the premine holders which might be exactly what is happening now. DASH is a bubble - why follow/copy/immitate it based purely on a sudden price hike?
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
I didn’t know any other coin was following in DASH’s footsteps, but it makes sense.
I also didn’t know anything about DASH pricing when we started talking about this.
TRC cannot implement anything new without a dedicated core team, and I think this is the best way to get people to help out.
Donations and project pay isn’t working.
Once this is implemented we can find our own way to new and better ways to make TRC great!
+1
I think Terracoin should became most famous communityovertaken coin and the best way to promote it is to establish some community-driven funds. Like charity initiatives, science funding, promotion bounty campaigns, ect. We might also consider to help some fake or failed ICO victims.
I think making TRC a coin that donates to charities is a great idea! You should put in a proposal when we move to the DASH decentralized concept.
No one will donate to anything otherwise.
The reason other altcoins are copying the decentralized governance system that DASH implemented is because it is a logical and necessary step in the evolution of a decentralized cryptocurrency. Because if you want to grow the ecosystem you have to incentivize people to participate. I think DASH has recognized that and it is the main reason they are exploding.
By the way, we started talking about this before the doubling in the DASH price. Not saying it is not in a bubble right now, but I think the price was bound for a correction upwards.
Yep!
You need to research what you are talking about before putting pen to paper. CRW is not a copy of DASH, in fact, the masternode portion of CRW is to be utilized for an application layer, they are removing darksend in order to apply that layer. So no, not all alts are copying DASH "right out of the box". They are incorporating open source aspects of DASH into an already existing product in order to expand on it. After all, you have the same complaint for dash or litecoin copying bitcoin's codebase? That is where almost all sha256d alts come from is that project (yes, I know that dash is not sha256d but is in fact x11 .. so what, they still used code from bitcoin core).
This is kind of what I am talking about. CRW is using the masternode concept to do something else. With the masternode concept working we can decide on and make other things happen. As long as we can get a good team together, which requires the masternodes.
Also, damn, CRW is really similar to TRC. I wish we had joined forces instead of having two different coins! Since that has happened; let’s be friends!
My research is my personal experience. I mined CRW from it's very beginning, but I stopped mining it when the reward went to only 40% due to the masternodes wanting payments. Masternodes make mining a coin pointless even if it is merge mined due to the low reward.
I'm a miner, so I support mined coins - I'm not interested in anything else.
I am not sure I understand this. Why wouldn’t you merge mine a coin even if it has little value? If creating masternodes doubles, or triples the price of a coin then it seems like you would always want to mine it all the more.
Am I missing something?
Thank you very much for your research, I think we know what should be done to create an TRC/EUR or TRC/USD gateway. Of course we are interested to cooperate with everybody who is interested to cooperate. And we don't believe into a voluntary cooperation so every effort we'll be paid.
The idea to ask TRC Foundation to be an escrow was born because we wanted to find the way to help the TRC community and to sponsor TRC Foundation.
In fact we are ready to finance the masternode system creation, but we think that the investment should bring some profit, so we invite everybody to think about what can be offered to those who finance the development of the TRC.
Maybe we can think about some discounted masternode reserved to those who has invested into their creation.
Having said that, I personally believe that we have to choose from one of three possible options:
1) Or we just copy the BTC development without changing anything. So one day the TRC will cost a 0,5 BTC, whatever BTC will cost.
2) Or we try to jump from one successful altcoin to another. So maybe we'll do better than BTC, or not.
3) Or we try to be ahead of the others.
I think that copying others ideas without at least trying to improve them well head as nowhere. We need to become leaders if not one day TRC may disappear. That's why I was thinking about a better governance than the DASH's, for instance.
So I'd like to understand better, if anybody can explain it to me. If we do not use the anonymization features of DASH what will the masternodes take their money for?
Another thing that is not clear to me what does it mean that the masternode will cost 10.000 TRC and it's set up will cost 100.000 TRC?
Yeah, so that is why the donation model isn’t working. If people think they should get an ROI donating to an open source volunteer coin then it will never get donations.
1. TRC is never going to be worth .5 BTC without a team of people working for it, and we cannot attract a team without paying them. TRC is stagnating no matter what I do because I don’t have the time to work on it all the time. So we have to get a team and the only way to do that is the masternodes/decentralized proposals.
2. If we get a dedicated team and decentralized management we won’t have to copy and paste our future. We can make our own!
3. See 2.
The masternodes will enable instant send, and only masternodes can vote for the proposals.
Sorry, I wondered if I was using the wrong word in that sentence.
What I was talking about it that in the first month if you have 10,000 TRC and you set up a masternode and nine other people do it then only a 100,000 is pulled out of all of the exchanges.
The idea behind starting at 10,000 TRC is to keep some whale from setting up a 100 virtual servers and ruining the voting.
And if only 100,000 in the first month is pulled out of the exchanges then the price won’t go up an insane amount.
It is better to have a steady climb with lesser bumps.
Does that make sense? I am open to new ideas.
I actually was talking with an API developer recently about your coin payment button idea and he said it was totally doable, but he didn't have time to work on it. He also said you would have to find an exchange with API access and the pairing you wanted. I looked into TRC/USD (I thought you were interested in that pairing) and there are some crazy low buy orders for TRC so you wouldn't want to use that pairing. You could use TRC/BTC then have it sell BTC for USD. I don't see many BTC\USD pairings where TRC is traded.
As for putting coins in escrow I think there are services that already do that and have real legal stuff backing them up.
As for putting coins in escrow I think there are services that already do that and have real legal stuff backing them up.
Thank you very much for your research, I think we know what should be done to create an TRC/EUR or TRC/USD gateway. Of course we are interested to cooperate with everybody who is interested to cooperate. And we don't believe into a voluntary cooperation so every effort we'll be paid.
The idea to ask TRC Foundation to be an escrow was born because we wanted to find the way to help the TRC community and to sponsor TRC Foundation.
In fact we are ready to finance the masternode system creation, but we think that the investment should bring some profit, so we invite everybody to think about what can be offered to those who finance the development of the TRC.
Maybe we can think about some discounted masternode reserved to those who has invested into their creation.
Having said that, I personally believe that we have to choose from one of three possible options:
1) Or we just copy the BTC development without changing anything. So one day the TRC will cost a 0,5 BTC, whatever BTC will cost.
2) Or we try to jump from one successful altcoin to another. So maybe we'll do better than BTC, or not.
3) Or we try to be ahead of the others.
I think that copying others ideas without at least trying to improve them well head as nowhere. We need to become leaders if not one day TRC may disappear. That's why I was thinking about a better governance than the DASH's, for instance.
So I'd like to understand better, if anybody can explain it to me. If we do not use the anonymization features of DASH what will the masternodes take their money for?
Another thing that is not clear to me what does it mean that the masternode will cost 10.000 TRC and it's set up will cost 100.000 TRC?
Can't say I'm happy to see TRC follow in the footsteps of a glut of other altcoins in trying to copy the DASH bubble in the search for a wider userbase. DASHS, Scryptdash, CRW & others all copying DASH & now TRC? - care needs to be taken before following the crowd. It's pretty common knowledge that DASH has a hidden premine, meaning it's open to false P&D by the premine holders which might be exactly what is happening now. DASH is a bubble - why follow/copy/immitate it based purely on a sudden price hike?
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
You need to research what you are talking about before putting pen to paper.
My research is my personal experience. I mined CRW from it's very beginning, but I stopped mining it when the reward went to only 40% due to the masternodes wanting payments. Masternodes make mining a coin pointless even if it is merge mined due to the low reward.
I'm a miner, so I support mined coins - I'm not interested in anything else.
Can't say I'm happy to see TRC follow in the footsteps of a glut of other altcoins in trying to copy the DASH bubble in the search for a wider userbase. DASHS, Scryptdash, CRW & others all copying DASH & now TRC? - care needs to be taken before following the crowd. It's pretty common knowledge that DASH has a hidden premine, meaning it's open to false P&D by the premine holders which might be exactly what is happening now. DASH is a bubble - why follow/copy/immitate it based purely on a sudden price hike?
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
You need to research what you are talking about before putting pen to paper. CRW is not a copy of DASH, in fact, the masternode portion of CRW is to be utilized for an application layer, they are removing darksend in order to apply that layer. So no, not all alts are copying DASH "right out of the box". They are incorporating open source aspects of DASH into an already existing product in order to expand on it. After all, you have the same complaint for dash or litecoin copying bitcoin's codebase? That is where almost all sha256d alts come from is that project (yes, I know that dash is not sha256d but is in fact x11 .. so what, they still used code from bitcoin core).
Can't say I'm happy to see TRC follow in the footsteps of a glut of other altcoins in trying to copy the DASH bubble in the search for a wider userbase. DASHS, Scryptdash, CRW & others all copying DASH & now TRC? - care needs to be taken before following the crowd. It's pretty common knowledge that DASH has a hidden premine, meaning it's open to false P&D by the premine holders which might be exactly what is happening now. DASH is a bubble - why follow/copy/immitate it based purely on a sudden price hike?
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
The reason other altcoins are copying the decentralized governance system that DASH implemented is because it is a logical and necessary step in the evolution of a decentralized cryptocurrency. Because if you want to grow the ecosystem you have to incentivize people to participate. I think DASH has recognized that and it is the main reason they are exploding.
By the way, we started talking about this before the doubling in the DASH price. Not saying it is not in a bubble right now, but I think the price was bound for a correction upwards.
Can't say I'm happy to see TRC follow in the footsteps of a glut of other altcoins in trying to copy the DASH bubble in the search for a wider userbase. DASHS, Scryptdash, CRW & others all copying DASH & now TRC? - care needs to be taken before following the crowd. It's pretty common knowledge that DASH has a hidden premine, meaning it's open to false P&D by the premine holders which might be exactly what is happening now. DASH is a bubble - why follow/copy/immitate it based purely on a sudden price hike?
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
+1
I think Terracoin should became most famous communityovertaken coin and the best way to promote it is to establish some community-driven funds. Like charity initiatives, science funding, promotion bounty campaigns, ect. We might also consider to help some fake or failed ICO victims.
Can't say I'm happy to see TRC follow in the footsteps of a glut of other altcoins in trying to copy the DASH bubble in the search for a wider userbase. DASHS, Scryptdash, CRW & others all copying DASH & now TRC? - care needs to be taken before following the crowd. It's pretty common knowledge that DASH has a hidden premine, meaning it's open to false P&D by the premine holders which might be exactly what is happening now. DASH is a bubble - why follow/copy/immitate it based purely on a sudden price hike?
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
If TRC is to grow it needs to come up with it's own original idea & keep it's own identity IMHO.
10 000 per masternode is good, if implement this, i setup and start one 
Here are some numbers in regards to the master nodes/mining/proposal split idea. Check my math!
20 TRC generated block * 30 blocks per hour * 24 hours a day * 30 days a month
20*30*24*30 = 432,000 TRC generated a month
45% goes to miners = 194,400 TRC
45% goes to master nodes = 194,400 TRC
10% goes to proposals = 43,200 TRC
If during the first month at 10,000 TRC per master node and only 10 people set up master nodes each master node would get 19,440 TRC. That is almost double what they have to hold to keep the master node running.
Setting up master nodes would cost a total of 100,000 TRC which would drive the price up a tiny bit.
If a 100 people set up master nodes during the first month at 10,000 TRC per master node each one would get 1944 TRC in the first month.
Setting up all of those master nodes would cost 1,000,000 TRC which would drive the price up a lot, but at the end of the month with their 19,440 and the additional 1000 left over (they only need to have 9000 TRC to maintain the master node) the price would go down again.
If people played it right the price would slowly climb while more master nodes were added, but not go insane right off the bat.
The reason I am thinking that we shouldn't just start at 1000 TRC per master node is to protect against some of those whales setting up a ton of master nodes to mess up the system. They could do it over a long time, but it would be much more difficult immediately.
Tell me if my logic isn't sound. I think it is, but constructive criticism is always welcome.
20 TRC generated block * 30 blocks per hour * 24 hours a day * 30 days a month
20*30*24*30 = 432,000 TRC generated a month
45% goes to miners = 194,400 TRC
45% goes to master nodes = 194,400 TRC
10% goes to proposals = 43,200 TRC
If during the first month at 10,000 TRC per master node and only 10 people set up master nodes each master node would get 19,440 TRC. That is almost double what they have to hold to keep the master node running.
Setting up master nodes would cost a total of 100,000 TRC which would drive the price up a tiny bit.
If a 100 people set up master nodes during the first month at 10,000 TRC per master node each one would get 1944 TRC in the first month.
Setting up all of those master nodes would cost 1,000,000 TRC which would drive the price up a lot, but at the end of the month with their 19,440 and the additional 1000 left over (they only need to have 9000 TRC to maintain the master node) the price would go down again.
If people played it right the price would slowly climb while more master nodes were added, but not go insane right off the bat.
The reason I am thinking that we shouldn't just start at 1000 TRC per master node is to protect against some of those whales setting up a ton of master nodes to mess up the system. They could do it over a long time, but it would be much more difficult immediately.
Tell me if my logic isn't sound. I think it is, but constructive criticism is always welcome.
I can support your decision as long as the terracoin base parameters specification is not changed and the protocol changes do not hurt the investors.
But I doubt that we have enough funds to pay to implement DASH voting system. (If someone can do this volunteered, this will be best.) That's why I'm thinking about the cheaper solution.
No matter what, if DASH voting system is set up, I'll support it.
Regarding the income for foundation from each block, I think this will hard fork or the mining pools can agree to use a modified node software. So this is not a easy task.
But I doubt that we have enough funds to pay to implement DASH voting system. (If someone can do this volunteered, this will be best.) That's why I'm thinking about the cheaper solution.
No matter what, if DASH voting system is set up, I'll support it.
Regarding the income for foundation from each block, I think this will hard fork or the mining pools can agree to use a modified node software. So this is not a easy task.
Gathering the funds for the DASH implementation will be the hardest part, and it would really be better to have a volunteer who will move into a paid position once the core dev payment proposal goes through.
I was speaking of doing either/or. I think the DASH proposals are more fair. It will cause a hard fork, but I don't think the mining pools will be upset because it will increase the value of the coin.
Dear Clockuniverse,
thank you for your effort. I think that everybody appreciates it very much.
The idea of the real world use of TRC is still alive.
We are working on the legal aspect of it.
After we have an idea in this sense we are planning to begin with TRC/EUR gateway.
I'd like to ask you: would TRC Foundation hold our warranty provision, a bit as if it was an escrow service, in order our TRC/EUR gateway users to be sure we have serious intentions, so in case of any controversy our client would be able to make a claim to you and you'll decide whether he is right or wrong and possibly compensate him (using the TRCs we'll send to you as warranty) from the losses he had using our service?
The idea here is that if everything goes as planned we'll gradually donate the TRCs from our warranty provision to the TRC Foundation (so at some moment of time there will be no warranty provision left, but everybody will be sure that our service is working).
If instead we'll see that idea is not working, we'll just ask you our warranty provision back.
Speaking about masternodes, I'd suggest to consider the idea of the gradual increasing of the masternode price. Because if now a masternode will cost 10000 and in 10 months it will cost 1000 I'm afraid that everybody will prefer to wait.
I actually was talking with an API developer recently about your coin payment button idea and he said it was totally doable, but he didn't have time to work on it. He also said you would have to find an exchange with API access and the pairing you wanted. I looked into TRC/USD (I thought you were interested in that pairing) and there are some crazy low buy orders for TRC so you wouldn't want to use that pairing. You could use TRC/BTC then have it sell BTC for USD. I don't see many BTC\USD pairings where TRC is traded.
As for putting coins in escrow I think there are services that already do that and have real legal stuff backing them up.
So with DASH they have masternodes costing 1000 to run which is like $80,000 USD right now, which is impossible for the common man. I decided to put it to start at 10,000 TRC because the price of TRC is so low and each block is split 45% to the masternodes. If you get in earlier you will get more TRC each month because there are less masternodes and as the amount of TRC needed to run a masternode goes down you can sell of some of your starting TRC each month, or create another masternode. This will slow down the possible massive increase in price of TRC and protect TRC from some yahoo creating 1000 masternodes right off the bat and screwing over the voting.
TRC has a larger total number of coins so I think a final amount of 1000 TRC per masternode to create a masternode it would never cost more then $1000 to $5000 USD.
I'm really glad to see this coin up and running ). Do you have any plan to attract new holders? The value depends on userbase, you know....
We are going to add the DASH project implementation and masternodes so that people can put in their own projects. Some of these projects will be marketing, and payment buttons so that more people hear about TRC and they have the ability to use TRC in real life.
I'm really glad to see this coin up and running ). Do you have any plan to attract new holders? The value depends on userbase, you know....
Start at 10,000 trc per masternode and go down 1000 a month until a 1000 TRC (I don’t think we should shoot for TRC being worth $80-$100, but more like a dollar or 5).
Dear Clockuniverse,
thank you for your effort. I think that everybody appreciates it very much.
The idea of the real world use of TRC is still alive.
We are working on the legal aspect of it.
After we have an idea in this sense we are planning to begin with TRC/EUR gateway.
I'd like to ask you: would TRC Foundation hold our warranty provision, a bit as if it was an escrow service, in order our TRC/EUR gateway users to be sure we have serious intentions, so in case of any controversy our client would be able to make a claim to you and you'll decide whether he is right or wrong and possibly compensate him (using the TRCs we'll send to you as warranty) from the losses he had using our service?
The idea here is that if everything goes as planned we'll gradually donate the TRCs from our warranty provision to the TRC Foundation (so at some moment of time there will be no warranty provision left, but everybody will be sure that our service is working).
If instead we'll see that idea is not working, we'll just ask you our warranty provision back.
Speaking about masternodes, I'd suggest to consider the idea of the gradual increasing of the masternode price. Because if now a masternode will cost 10000 and in 10 months it will cost 1000 I'm afraid that everybody will prefer to wait.
I can support your decision as long as the terracoin base parameters specification is not changed and the protocol changes do not hurt the investors.
But I doubt that we have enough funds to pay to implement DASH voting system. (If someone can do this volunteered, this will be best.) That's why I'm thinking about the cheaper solution.
No matter what, if DASH voting system is set up, I'll support it.
Regarding the income for foundation from each block, I think this will hard fork or the mining pools can agree to use a modified node software. So this is not a easy task.
But I doubt that we have enough funds to pay to implement DASH voting system. (If someone can do this volunteered, this will be best.) That's why I'm thinking about the cheaper solution.
No matter what, if DASH voting system is set up, I'll support it.
Regarding the income for foundation from each block, I think this will hard fork or the mining pools can agree to use a modified node software. So this is not a easy task.
This is going to be a long post…
The TRC Foundation has only a few very part time volunteers and me.
The people we have paid on a by project basis have helped out a lot, but eventually they want to stop answering questions and helping out.
I don’t blame them.
I ask for their help with new issues after they have completed the project all the time, and they don’t get paid for it. Sometimes I send them a 1000 TRC from the donations address, but if they are on an on call basis (which is how it ends up working out) then they need a steady token income.
I mostly fill the donations address with my own profits from trading and a few people donate (Thank you!!).
We have talked about many different things that we need such as an Android wallet, an iOS wallet, a payment button and a new website, but no one has donated BTC towards that happening.
I work a more then full time job, and some days I only have an hour or so to spend on TRC just keeping up with basic correspondences and bitcointalk/reddit/website updates.
I will not give up on Terracoin and I with keep working towards improving it, but without help I see the future changes coming very slowly.
Which is why I think we have to implement the DASH management proposal/master nodes as soon as possible.
I need a team to work with to develop, market, and guide Terracoin.
They also need to get paid, even if it is a token amount.
Donations are not working so we have to move towards a model that brings in income from each block which either I am in control of, or that everyone is in control of.
I think a model that everyone is in control of will work better. Otherwise I could just shut down a project that has merit just because I don’t agree with it.
Here is what we need.
DASH Proposals implementation
Monthly proposals to start after 3 months of master node adoptions (this will give people time to set up master nodes)
Web page with how to set up master node
Web page with master node totals and up to date info
Web page showing current proposals
Changes to TRC wallet I am suggesting
Proposal management and instant sent, no anonymous transactions.
Start at 10,000 trc per masternode and go down 1000 a month until a 1000 TRC (I don’t think we should shoot for TRC being worth $80-$100, but more like a dollar or 5).
Maybe 30% vote total to get something passed which goes down 5% a month until 10%.
@johnwhitestar Your idea about a pay button would have probably passed. I actually thought of you when I was looking at DASH. Also, I understand your worry about people getting a bunch of other people to vote for something against their best interest, but that hasn’t happened yet on DASH and that can happen on any system we implement. We also are on a tight budget to implement better options and we have no development team. Once we get the proposals implemented then we can work on sliding away from the DASH model.
@Hanzac I decided coin age wasn’t a good idea when I read more about how each master node has to have a certain amount of DASH to run.
I have read everyone’s discussion about this, and I think this is the best option to gather quality team members to work towards a world where Terracoin is relevant and the most used cryptocurrency.
In support of this proposal and to continue to improve Terracoin, I just purchased the domain names terracoin.io and terracoin.net. It will take a while for the DNS forwarding to kick in.
The TRC Foundation has only a few very part time volunteers and me.
The people we have paid on a by project basis have helped out a lot, but eventually they want to stop answering questions and helping out.
I don’t blame them.
I ask for their help with new issues after they have completed the project all the time, and they don’t get paid for it. Sometimes I send them a 1000 TRC from the donations address, but if they are on an on call basis (which is how it ends up working out) then they need a steady token income.
I mostly fill the donations address with my own profits from trading and a few people donate (Thank you!!).
We have talked about many different things that we need such as an Android wallet, an iOS wallet, a payment button and a new website, but no one has donated BTC towards that happening.
I work a more then full time job, and some days I only have an hour or so to spend on TRC just keeping up with basic correspondences and bitcointalk/reddit/website updates.
I will not give up on Terracoin and I with keep working towards improving it, but without help I see the future changes coming very slowly.
Which is why I think we have to implement the DASH management proposal/master nodes as soon as possible.
I need a team to work with to develop, market, and guide Terracoin.
They also need to get paid, even if it is a token amount.
Donations are not working so we have to move towards a model that brings in income from each block which either I am in control of, or that everyone is in control of.
I think a model that everyone is in control of will work better. Otherwise I could just shut down a project that has merit just because I don’t agree with it.
Here is what we need.
DASH Proposals implementation
Monthly proposals to start after 3 months of master node adoptions (this will give people time to set up master nodes)
Web page with how to set up master node
Web page with master node totals and up to date info
Web page showing current proposals
Changes to TRC wallet I am suggesting
Proposal management and instant sent, no anonymous transactions.
Start at 10,000 trc per masternode and go down 1000 a month until a 1000 TRC (I don’t think we should shoot for TRC being worth $80-$100, but more like a dollar or 5).
Maybe 30% vote total to get something passed which goes down 5% a month until 10%.
@johnwhitestar Your idea about a pay button would have probably passed. I actually thought of you when I was looking at DASH. Also, I understand your worry about people getting a bunch of other people to vote for something against their best interest, but that hasn’t happened yet on DASH and that can happen on any system we implement. We also are on a tight budget to implement better options and we have no development team. Once we get the proposals implemented then we can work on sliding away from the DASH model.
@Hanzac I decided coin age wasn’t a good idea when I read more about how each master node has to have a certain amount of DASH to run.
I have read everyone’s discussion about this, and I think this is the best option to gather quality team members to work towards a world where Terracoin is relevant and the most used cryptocurrency.
In support of this proposal and to continue to improve Terracoin, I just purchased the domain names terracoin.io and terracoin.net. It will take a while for the DNS forwarding to kick in.
Some ancient spirits are pumping Namecoin and Peercoin right now 
we should let them know about Terracoin awakening )
we should let them know about Terracoin awakening )
@clockuniverse, can you beautify the reddit site: https://www.reddit.com/r/terracoin
see this as ref: https://www.reddit.com/r/litecoin
see this as ref: https://www.reddit.com/r/litecoin
Giving the decision power to the masternodes owners make the whole system vulnerable to the external attacks.
I see they there are 4000 masternodes with DASH right now, so I don't think external attacks would be an issue for them. It does require a 1,000 DASH to set up a masternode which is insane. That is like $80,000.It's much more easy to treat, corrupt, brainwash or convince with any other mean 4000 masternodes holders than the whole coin owners community.
Think about any political system. Is there any country in which the politicians has never voted against their people interests?
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