IncaKoin users should feel pretty content and even sanctimonious when it comes to the properties and nature of the protocol and coin itself. With the recent verdicts from the US regarding the status of ICOs now being classified as securities, you should be feeling very happy indeed NKA was not built upon an ICO platform or ported over to one. We have ourselves a real magic internet money protocol coin, rather than a premined APP coin crap/nonsense unaccountable investment scam. Of course we will see ups and downs, low volume and slow periods; this is to be expensed. We have experienced true organic growth, not as much as I’m sure we would all hope for, but, its actually been pretty rapid if you’ve been trading and mining NKA since its inception.
This all being said, I’m really not sure why anyone would be wanting to implement masternodes, when investors of less than a penny can already stake mine their coins from pretty much any PC or android phone. We got a really great thing going here, not just for us, but for the billions of unbanked people across the planet who could benefit and make use of our platform if they only knew about it, and understood how to utilize it effectively for their needs of savings/speculation and money transfers. Masternodes won’t make the network any more secure than it already is. Our proof of work cements IncaKoin to the real world, but we do not depend on or need a constant growth of POW mining difficultly (and the electricity it needs) to be truly secure. Because its a POW/ proof of stake hybrid, the POS will stifle attacks, as the attackers will not know exactly when and from where the next stake will appear from; to my knowledge, to date there have been no successful attacks against POW/POS hybrid coins for this reason.
The masternode plan and hunger doesn’t even make any sense to me. If you lock up 10,000,000 NKA in a masternode, and use it to compete for the 100 NKA /block, how much will you really get?
Right now, our massive inflation rate (which we gain the benefit from as users, rather than having someone “do it” to us) of 9% every 35 days, or 93% / year. You get 900,000 NKA after the first 35 days… and it compounds.
The POW rewards currently are around 5,040,000 NKA / 35 days of which all of the hashing power chases after and gets a piece of.
So 6 masternodes (60,000,000 NKA) would yield 5,400,000 NKA if they would have just simply staked their coins, rather than compete for the shared 5,040,000 NKA as maternodes.
One nice benefit of having masternodes, would be not having to worry about keeping SHA-256 ASICs running all the time to keep the blocks moving, and also the attention it could bring us, as noobs really seems to not have any idea WTF is going, and follow the heard of a cliff, and will throw money at IncaKoin just because we would have masternodes, but thats all pretty silly in my opinion.
We have a fucking excellent product, we have stood the test of time already. Don’t screw it up followin the heard off a cliff….
Once the public starts to realize that more than half the coins which exist are a bunch of non-sense ICO investment baloney promises, and how it is that a real coin operates (like our IncaKoin does). WE WIN!
Very nice post! I too have the same feelings as you and as the founder would love to keep the original idea but more important is what the community wants and a community run Coín is the best choice I believe. There’s an old saying two heads are better than 1 but everyone together thinking brainstorming and growing as a collective is the best. This all being said, I’m really not sure why anyone would be wanting to implement masternodes, when investors of less than a penny can already stake mine their coins from pretty much any PC or android phone. We got a really great thing going here, not just for us, but for the billions of unbanked people across the planet who could benefit and make use of our platform if they only knew about it, and understood how to utilize it effectively for their needs of savings/speculation and money transfers. Masternodes won’t make the network any more secure than it already is. Our proof of work cements IncaKoin to the real world, but we do not depend on or need a constant growth of POW mining difficultly (and the electricity it needs) to be truly secure. Because its a POW/ proof of stake hybrid, the POS will stifle attacks, as the attackers will not know exactly when and from where the next stake will appear from; to my knowledge, to date there have been no successful attacks against POW/POS hybrid coins for this reason.
The masternode plan and hunger doesn’t even make any sense to me. If you lock up 10,000,000 NKA in a masternode, and use it to compete for the 100 NKA /block, how much will you really get?
Right now, our massive inflation rate (which we gain the benefit from as users, rather than having someone “do it” to us) of 9% every 35 days, or 93% / year. You get 900,000 NKA after the first 35 days… and it compounds.
The POW rewards currently are around 5,040,000 NKA / 35 days of which all of the hashing power chases after and gets a piece of.
So 6 masternodes (60,000,000 NKA) would yield 5,400,000 NKA if they would have just simply staked their coins, rather than compete for the shared 5,040,000 NKA as maternodes.
One nice benefit of having masternodes, would be not having to worry about keeping SHA-256 ASICs running all the time to keep the blocks moving, and also the attention it could bring us, as noobs really seems to not have any idea WTF is going, and follow the heard of a cliff, and will throw money at IncaKoin just because we would have masternodes, but thats all pretty silly in my opinion.
We have a fucking excellent product, we have stood the test of time already. Don’t screw it up followin the heard off a cliff….
Once the public starts to realize that more than half the coins which exist are a bunch of non-sense ICO investment baloney promises, and how it is that a real coin operates (like our IncaKoin does). WE WIN!
