Topic: [ANN][DCR] Decred - Community Governance | Bitcoin Devs | Lightning Network - page 549. (Read 1201599 times)

Russian announcement
https://forum.bits.media/index.php?/topic/19156-dcr-decred-gibridnyi-powpos-btcsuite-devs-tonny-novykh-vozmozhnostei-go-18012016/
https://bitcointalk.org/index.php?topic=1305009.new#new
http://general-beck.info/ethereum-эфиpиyм/635-decred-dcr-гибpиднaя-pow-pos-кpиптoвaлютa,-go-peaлизaция

That's correct, assuming 5k people sign up for airdrop and it fetches USD 0.49 per coin. The exact numbers will be made public once the airdrop process is complete. The cap is set that high on purpose, so it can be as inclusive as possible - given that this project isn't built on hype. If it fetches less than than in USD, the devs lose because that's what they'll be buying at/exchanging for - that's set in stone now. The risk of the project is carried by the devs. If it fails, they lose the years spent working on it and the money they put in.


Nobody can determine what the price will be. That's how much it cost to develop and what's given to the community, so it's based on that:

• USD 165,000 in unpaid work and individual purchases by developers to fund the project
• USD 250,000 cost of developing the project, in terms of developer pay, which c0 paid to developers
• USD 415,000 airdrop made available to the community to "balance" the aforementioned costs (165,000+250,000)

Therefore, ((165,000+250,000+415,000)÷(21,000,000×0.08)) = USD 0.494047619 per coin. Anything less than that on a free market and the devs lose. Airdrop participants win at > USD 0, albeit in smaller quantities since 840,000 coins are divided between the community - but bear in mind this isn't a hype project, so there's no telling what the final number of participants will be. You can at least work it out based on the hard cap put on the number of participants.

Any plans to merge mine with BLC and the other coins in the Blake ecosystem?

Is this 8 round blake?

don't know how they will set a price of $0.49 on a free market. but yes this are my figures too.

Merry X-mas to all of you. Lets look what 2016 brings for all of us 

Am I correct in figuring that the airdrop to a max 5,000 folks equates to $82.32 USD each?

You can get some of the info here.

https://bitcointalksearch.org/topic/m.13278747

For details you can read the white paper/dered brief (https://decred.org/dtb001.pdf).

Also exact starting reward is 31.13408239.

You can read this paper to know details of how mining/staking will work: http://mc2.xwebnetwork.com/storage/mc2_0.05.pdf

It's 8% premined, half of which (4%) are going towards the developers, and the other half (4%) towards the public airdrop.
I second the interest on detailed emission information, PoW and PoS rewards, etc.

it's premined. guess they mine for themselve since some months.

Finally a serious hybrid altcoin project without an ICO/crowdfunding scam attached.
I looked into the website and wiki, but didn't find the detailed emission specifications. Is that information available yet?

Looking forward to the launch!   

Interesting - how did you come to this conclusion? Decred doesn't have any connection to Dash. Dash is based on C/C++ codebase, whereas Decred is based on a Go (golang) codebase. One thing Decred would like to avoid is what happened during Dash's launch. It needs to be taken as a lesson to try and learn from. Another good reason to get many people involved in airdrop.

so - reading over the OP

This is an altered version [fork] of DASH?

Hi I found out today about how CLAM devs are doing their voting. Is this similar to or exactly your process/code?

https://bitcointalksearch.org/topic/m.13098673

Will we be doing it in similar way?

Also, We are using 5 min block time, how did you reach that number? Here is a talk by Dave Hudson, where he explains his research. Please do watch it. The slides are not visible in the video but there is link to all slides in description.

https://www.youtube.com/watch?v=9aBKLmJ2ebM

He talks particularly about block times starting at 50:55 (https://youtu.be/9aBKLmJ2ebM?t=50m55s). He says that blocktimes can be reduced as network speeds improve. Is it possible that like block subsidy we can also program either blocksize or blocktime to change so that scalability/tx per second is built in to the code rather than left to be solved later. Obviously we would need some kind of data or extrapolation about adoption rate, n/w speed increases etc to do that. I think if this can be done, it will make scalability not an issue left to consensus but based on how n/w evolves & hard forks will be required only to adjust the graphs based on new data. This is also an area where we can involve Dave Hudson to run some statistical models or do it ourselves if someone can do it.

Decred's goals are pretty simple. It wants to be open and progressive, and use community-based governance to make decisions. It wants to be self-funding and remain sustainable so it can continue its own development.


To be cheeky: btcsuite has been influencing Bitcoin Core development for years. It's been BC's red team. There are no plans for Decred to directly influence Bitcoin Core development. The relationship is between btcsuite and Decred, and it's a code relationship. If BC like what's happening, they can be part of it just like anyone else - or use the open-sourced code for their purposes.


Contentious issues need to be solved appropriately. The proposal put forward now is to conduct discourse and informal voting on a platform where anyone can participate with the issues - specifically geared for this purpose. Then issues move to the blockchain where it's handled by PoW/PoS, wherein PoS miners formally vote on each issue. That's a proposal for how Decred can deal with difficult issues and arrive at a solution. What we have now is just a starting point.

I'm posting most of the responses at the moment. The current process is to consult with all the devs and non-devs working on the project and construct responses together for the "decred" account. However, it isn't always possible to construct individual responses since the devs are focusing on developing and testing (understandable at this point in time). I distil what's being said and run back and forth. Once it's mainnet time people will have more time to engage publicly and directly - I suspect most devs prefer technical talk around their work. I don't mind, since we'd all rather have what we're talking about than just talk about it.

The other reason for using the "decred" account is nobody wants a cult of personality, so we'd rather construct responses together. Also remember we're custodians to get it live, it's not ours. So "we" can't speak for Decred, we can only put forward information and see if there are objections or support. Anyone here has as valid an opinion as anyone else. Maybe that's not always practical, but it's worth keeping in mind when interacting from any position. A key thing to get up is a platform where we can have discourse and vote on a range of matters and then perhaps move it to another formal layer for voting (blockchain) and integration into Decred, that would be worthwhile. Experimenting with the platform for discourse/informal voting next week too.

Funding:
There are basically three models we've seen in most free and open-source projects that want to remain sustainable (continue development over time). In these, funding comes from:

• Donation-type efforts, or hoping for goodwill
• Some type of initial offering, or selling influence to insiders
• Some external party, or selling influence to outsiders

Nobody here will tell you Decred is going to fix your world. Anyone who tells you that is a false prophet. What we can tell you, unequivocally, is that Decred is a project that will attempt to introduce a fourth option to counter the corruptive influence of funding we've seen destroy a lot of good ideas that started in an earnest way. By writing funding into a consensus rule, Decred attempts to put power back in the hands of its users. Some people will stop reading here and say it's a terrible idea. Others will come along on the journey and see where it goes. The fact remains, if the network dislikes the direction development takes, they now have a direct voice to communicate that - stop mining and staking and the funding stops. That's the fourth option.

All the other options we've seen are suboptimal. Donation-type efforts are limited in scale. Selling air to you saying it'll be worth something "if you just trust us" is sick. And finally, Decred won't accept a situation where it's owned by a handful of corporations astroturfing the community and manufacturing consent in its name. By putting funding into the hands of users, Decred attempts a representative democratic model where nobody owns it. Decred isn't for sale - and you can't inquire within about sale. And if anyone messes with that in the future, scream from the hilltops and burn the whole damn thing to the ground - it's our duty as a community.

btcsuite:
btcsuite has been funded by a single guy, relatively unknown, who is crazy about freedom. There's no selling and no venture capital. There have been attempts to buy influence, and they have been chased away. Bear in mind btcsuite is the backbone of a great number of Bitcoin businesses and organisations now. There isn't a number because many close off their code - so we don't know. You may be interested to know that Ethereum's most popular client (geth) is based on btcd, for example. The point is btcsuite is high quality software written in public view over years. That is what you will see from Decred from a development perspective - you need not look further than btcsuite's history.

That type of situation is obviously quite unique. A single source of philanthropic funding is both rare and a problem for a project like Decred. It's been sustained fine for a project like btcsuite, but Decred intends to build a multi-stakeholder development environment where anyone can come contribute and be rewarded for their work fairly when it becomes part of the codebase. 100% of funding goes to the benefit of Decred's development - in full view of the public. So funding isn't going to go to btcsuite as a separate project unless that code clearly and directly benefits Decred, goes into its codebase, and is part of a Decred feature. It's clear now how that can be confusing - what we mean is actual code contributions accepted into Decred's codebase will go to btcsuite too if it's applicable. Similarly, Decred gets free contribution from btcsuite where applicable. So the symbiotic relationship between the two is based on code, not funding, aside from the fact Decred gets free code from btcsuite's ongoing work. The word applicable is used because they're different systems and Bitcoin is more constrictive on what it can accept - chances of a hybrid PoW/PoS change are 0.

As for Decred, the community is beholden only to itself. If someone (person or organisation) wants to build a feature put up as a development proposal, and there's sufficient support from the community, it can built by that party, reviewed, merged, and becomes part of Decred's codebase. c0, for example, is a competent development stakeholder interested in continuing work on Decred, so it'll be doing work for Decred as a team. They don't own it, and anyone can be a development stakeholder if they are good - that's the meritocratic element of the system.

What's the matter?

No one is knocking BSD. I'm impressed developers would bother to make a wallet for it due to the "tiny user base". The "gui" may have been a dig towards a popular coin with no gui wallet.

Btw, I use BSD although I am still at the noob state with it right now.

^^^ Looking forward to reading the answer (not the made up word part, but other).

Also, since it looks like more than one person is using the Decred user account, could post authors sign their name at the end even if it's just their first name?

if I understand it right you guys don't want to establish an another altcoin in the first line but want to add value to the development of Bitcoin if you still maintain the "Btcsuite" and improve the development of "Btcsuite" thru "Decred" in a practical way. is this right?

and for shure you have the same issue as the Core Developers have. your work has to be funded and you need something for living.

is the word "Degred" a made-up word of "decrease" and "greed"?