Topic: [ANN]~GenesysCoin~ 1st in Wallet Web Based Games [~MANDATORY UPDATE TO v1.5.1~] - page 37. (Read 131830 times)

I take back what I posted earlier. I'm new to masternodes and was reading about them a little bit, what tasks are they going to have and how much are they going to pay?

Thanks Devs for working so hard, I know this project will reach the moon in a few months. I think that those negative posts are clearly somebody trying to get cheaper GSY, this coin has a lot of people holding and stacking, just check the stacking icon in the wallet. 

I knew these Devs were working behind the scene - Im still holding strong. Keep up the good work.

Thanks for the update guys.
Looking forward to that wallet upgrade and running a Skynode! 

GenesysCoin "Masternodes" (Skynodes) have been full implemented. Immediate and Mandatory Update is Required.
DOWNLOAD LINKS will be posted tomorrow in OP (For Standard and Gaming Wallets).
ConFront Development is progressing well. We should have a Second video demo by Tuesday (next week). Please note that we are doing our Best
to make ConFront a Solid Platform and Succesful Gaming Business for all Crypto Communities. Stay tuned and please have faith in Genesys Project.
We will never leave a project (wonderful idea) like this that can bring us profits for a longterm. As you noticed, Genesys has a Unique Concept and not
just another Altcoin with some Useless Technologies.

I just read all the posts and I cant believe people just started to worried abt this longterm project just because devs Team did not post in the last few days
or so. We are doing our best and we have life events mixing with developement. GenesysCoin didn't even started yet and why should we abandon
a project like this that can bring us revenue when everything is up and running. Genesys Features are not something simple to get done right away - ConFront is a whole system that need patience in developement and we are getting close to achieve the firat steps.
You can find me on Skype and IRC - if you have any question. I may not be active on Bitcointalk like that unless there are News or Updates to be posted.
Thank you! and stay tuned.

Any new updates on the progress?

Can't be too sure. If so,what can be done? Nothing really. Another day in CryptoLand. Just gonna hang on to what i have and see what happens. Might just be another ICO p&d,might not. Can't say wallet doesn't work though,right? Maybe they're just working on Confront. Maybe they've fucked everyone. Only time will tell.

Punk ass bitch Dev played us all  , business as usual with Altcoins.

Picked up a decent amount..... thanks to whoever dumped that hard

Interesting wallet here. Look forward to future developments

got some for cheap! keep up the good work

Someone just panicked the fuck out and dumped haha  , too early to say what might happen.

Too much silence is making me nervous 

Any good news?

I bought in on the ICO and am extremely happy with the way things are going. I haven't said much, but I've definitely been keeping an eye on the thread. I think trying to get onto the bigger exchanges is pointless at the moment. It requires time and attention that should be used to focus on upcoming features and making sure everything is 100% instead. The big exchanges & publicity will come with the completed features. Value is more important than price. If you really want exchanges, maybe you should look into putting together a PR team. That way they handle all of that stuff(Getting onto exchanges, posting on the forum when you can't,getting media exposure,etc.) while you guys focus on the code. It would help out a lot, and you would need it eventually when this blows up.

Skynodes collateral will be 2000 GSY. Stay tuned for updates. Thanks!

Well, one thing I see differently, is that I do not consider that Skynodes should ever truly affect exchange rate.

Let's then assume for a moment that the collateral was 1000 GSY. Then 6 months down the road, there is a large influx of new users and players joining the platform, and the price moves largely upwards. At that point, some people will prefer to stop running a Skynode, and might sell.
Importantly, this would be the case (of these holders selling) had their balance been locked for staking (regular PoS), or locked as collateral (Skynode). In any case, if the collateral was 1000 GSY, between some people that sell, and some that hold, there's always room for many (many) hundreds of Skynodes at this collateral range.

With this in mind, I don't see that there would ever be a reason to hard fork later on to reflect updated exchange value and adjust the FIAT cost of setting up a Skynode. The cost of running a Skynode should automatically balance itself between the GSY exchange rate, and natural competition with other Skynodes (more Skynodes = lower returns for each one, while less Skynodes = higher return for each one).

I will add however that I don't think this particular element "makes or breaks" Genesyscoin in any meaningful way. I'll remain a holder, no matter what value you decide for Skynode collateral. I believe that you are pursuing much more important things with Confront and the Arena game, so I'm most definitely sticking around 

So anyhow, I put my vote down for a 1000 GSY collateral.
Would be great of other people would voice their opinion, or even just a brief post to express preference for some amount.

Cheers!

Ok. The 200 GSY is to prevent some heavy falls of the price in months coming. The current GSY price on these low Exchanges should not be considered - we want people
to sell to new comers because there will be a lot of needs and interests once we get ConFront launched and once Genesys Arena is ready and ...etc
the POS rewards will be halved to a final payout of 0.25 GSY in ~6 months coming (a mandatory update will be made soon). So we think if right now Skynodes are only 200 GSY, there will be no need to hardfork and reduce the collateral in the future when the price is High at a certain important amount (we are looking into this in ~in a year or so) and it will help spread the coins and get it stable steps by steps each month. Not many will keep running their Skynodes and Im sure it will be difficult for someone to control the Skynodes network since currently any can just set up as much as they want. Also do not forget that Genesys can easily reach a Huge users base (Users from everywhere in the world). The ideas we have for marketing and additional features for ConFront and others, are totally enough to bring a Huge Interests in this project in few months coming.

The other solution we had is to halve the collateral (same with the Fees for services) every step when the price raise like from 0.00001000 to 0.0001 to 0.001 to .....etc.
but this will need Hardforks for the Skynodes (and no one like Hardforks).

Anyway, we are open to suggestion and if the Community want a certain amount for the Skynodes collateral, we will go for it. But please read why we chose 200GSY
you may understand why or you may correct us if it is still wrong. Thank you!

Edit: With the 200GSY, Skynodes (masternodes) will still be affordable in the future. But community suggestions are welcome. We will consider anything if more people
vote for it.

@GSYTeam:

I kindly request that you reconsider making the Skynode collateral significantly larger.
For example: at 1000 GSY per Skynode, with just 10% of the current supply locked in Skynodes, we're talking of about a potential 160 Skynodes. Just for completeness of the example: with 100% of the current supply locked in Skynodes, the potential maximum would be for 1600 Skynodes today (on the same 1000 GSY collateral). At these rates, the current daily coin generation allows for another Skynode every ~ day and a half.

My gripe with a tiny collateral (such as 200 GSY), is that it places a premium reward and network relevance, within reach of uninterested parties (less than 2 USD worth of collateral commitment to run a node). Someone can control of very significant amount of Skynodes, spending literally peanuts to reach that position.
This is a risk vector, and it is implicitly counteracted by making the collateral large enough that any Skynode is economically incentivized to act honestly.

Perhaps a community vote would be reasonable? I'm not suggesting that the community decides, just that votes are expressed so that you take them into account towards whatever decision you ultimately take.
My suggestions would be 1000 GSY (absolute minimum), though I would much prefer a neat and round 5000 GSY. Could you please start a pool using these or any other input values so that the community would express their preference?

Thanks!