[ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - PROOF OF STAKE - ZEROCOIN - page 465.

danonthehill

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Quote from: jakiman on March 31, 2016, 06:18:47 AM

Last thing we want is everyone setting up MN's due to significantly larger profit than staking.
That means the actual network will be very vulnerable due to not enough staking going on.

How does staking interest/masternode payouts compare with DASH? Seems like they have incentivized masternodes quite well, but they have larger cost barrier to setting up a masternode. How do we replicate and improve on this with low market cap, possibly transitioning into larger market cap?

Perhaps larger collateral requirements could also be considered. Or maybe addition of supernodes, if necessary to achieve the anon "air gap" would have higher requirements with higher payout. As the POS schedule is long term, if supernodes are likely requirement to achieve true anon then maybe this should be considered and factored in to long term schedule.

jakiman

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Well... Once DNET goes to PoS pahse....

Staking ensures validity of the blockchain = VERY important.
Masternodes provide anon/budget porposal = LESS important than above.

Masternode is definitely more time/resource/money consuming to run.
However, it also allows you to submit budget proposals & make votes.
So that is an extra benefit that you get along with payments as a reward.

Last thing we want is everyone setting up MN's due to significantly larger profit than staking.
That means the actual network will be very vulnerable due to not enough staking going on.

Like all things in crypto, things can be improved after starting with a clone.
Decentralization is key. How to achieve that most effectively is the question.

Most major coins provided technical innovations to crypto. (BTC, BC, DRK(aka DASH), ETH etc)
I hope DNET can do the same later on.

Now... I'm curious... What PoS system does DNET use?
(Standard coin age, Blackcoin's PoS V2 or something else?)

borris123

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Quote from: danonthehill on March 31, 2016, 03:29:11 AM

Quote from: jakiman on March 31, 2016, 03:10:46 AM

DASH currently has 6.33 million coin supply with ~3400 masternodes.
You need 1k DASH per MN so it has approx. 54% locked down as MN.

DNET currently has 20.71 million coin supply with ~730 masternodes.
You need 10k DNET per MN so it has approx. 35% locked down as MN.

That's some feat considering DNET was only launched 2 months ago.
USP will come according to devs so we'll just have to wait and see.
Creating infra takes time. Definitely needs more helping hands...

That was my point. If masternode payments are only slightly better than staking, number of masternodes will decrease. This strength of the network will be considered as a part of the USP when it comes to the consideration of exchanges like Poloniex. Therefore encouragement of masternodes needs to be a priority.

Agreed I would just stake if it was only slightly more payments as the extra costs and hastle for hosting a masternode wouldn't be worth it.

kokokoin

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Activity: 638

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Quote from: 4x13 on March 30, 2016, 09:49:55 PM

PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET

PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET

PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET

PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after

I like this reward curve. Significant supply reduction is needed.

nara1892

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Activity: 1792

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Quote from: pjcltd on March 31, 2016, 12:42:13 AM

Quote from: nara1892 on March 31, 2016, 12:15:08 AM

my wallet still out of sync Sad

help me please

Hi what version of wallet are you running?

Thanks
Paul

v1.0.2.1-dbfed2b (32-bit)

danonthehill

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Activity: 710

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Quote from: jakiman on March 31, 2016, 03:10:46 AM

DASH currently has 6.33 million coin supply with ~3400 masternodes.
You need 1k DASH per MN so it has approx. 54% locked down as MN.

DNET currently has 20.71 million coin supply with ~730 masternodes.
You need 10k DNET per MN so it has approx. 35% locked down as MN.

That's some feat considering DNET was only launched 2 months ago.
USP will come according to devs so we'll just have to wait and see.
Creating infra takes time. Definitely needs more helping hands...

That was my point. If masternode payments are only slightly better than staking, number of masternodes will decrease. This strength of the network will be considered as a part of the USP when it comes to the consideration of exchanges like Poloniex. Therefore encouragement of masternodes needs to be a priority.

jakiman

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jakiman is back!

DASH currently has 6.33 million coin supply with ~3400 masternodes.
You need 1k DASH per MN so it has approx. 54% locked down as MN.

DNET currently has 20.71 million coin supply with ~730 masternodes.
You need 10k DNET per MN so it has approx. 35% locked down as MN.

That's some feat considering DNET was only launched 2 months ago.
USP will come according to devs so we'll just have to wait and see.
Creating infra takes time. Definitely needs more helping hands...

kbhutto

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Merit: 250

PredX - AI-Powered Prediction Market

I also agree.....we need USP for this coin......there are many anon coins offering similar services. It would be a disaster if DNET is called just "another anon coin".

Quote from: Hamukione on March 30, 2016, 02:23:30 PM

But again.. A anon feature is not really gonna boost much.
Why suddenly buy into this coin when other coins offer the same?

What we are going for is to become an accual currency, right?

This is not FUD this is just me asking relevant questions because I cant see the reason why people should buy into this coin other than because of the masternodes that can make you money.
But at some point there will be so many, or the value of the coin has dropped too much for it to be worth have running.

That is what I can see is going to happen.
This is my opinion, not facts.

Does anyone here have some points to make so I get a better understanding of the plan of this coin, or if its just a profit run.

danonthehill

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Activity: 710

Merit: 500

Quote from: StakeBox on March 30, 2016, 11:44:18 PM

Quote from: jk9694 on March 30, 2016, 10:48:55 PM

Quote from: 4x13 on March 30, 2016, 09:49:55 PM

As we work on the PoS implementation that is still a few months away, We have been discussing some potential numbers for the Reward values for the PoS phase. We wanted to get everyones opinions, good or bad.. In the end this is a Community Driven Coin and thats the way we want it.

So here are some possible numbers, keep in mind that these are not in concrete, and are to stimulate some discussion. after a few days of discussion, if there are not any major issues i will post it for formal vote.

If for some reason you are not in favor, please explain why you feel this way.

PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET

PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET

PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET

PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after

let us know your feelings..

And what are you thinking for the masternode rewards?

The split between the masternodes and the staker would still be using the seesaw mechanism we had discussed before. The numbers for the split between stakers and masternodes are still being hashed out. Our intent is still to have masternodes be only slightly more profitable than staking on a per coin basis when the network is balanced properly between coins staking and locked up in masternodes. We are really just trying to see how everyone feels about the overall block rewards and coin production. Once we are switched over to PoS we can reduce inflation by lowering the rewards for each block. What we want to do is start a conversation about the pros and cons of such substantial rewards reductions.

Masternode only slightly more profitable than staking? I wouldn't feel incentivized to run a masternode if that was the case.

Fluctuations in price mean I could have accumulated more DNET this last month if I'd day-traded, as opposed to holding in a masternode. If I was just staking in wallet because masternode was only slightly more profitable, that's exactly what I would have done: traded and moved coins back & forth to wallet to stake, with less long term incentive to hold.

Setting up a masternode was a hassle, updating was a hassle, paying hosting invoices a hassle, not to mention the additional cost. I am not going to be doing this for a slight and negligible profit in an uncertain market.

One of the features of this coin is it currently has a strong network 700+ masternodes and growing. I see the strength of the network being a USP in the future. Lots of coins have lots of POS participants, lots of coins don't have a 1000, maybe 2000+ masternodes. It should be a priority to encourage and achieve this.

4x13

legendary

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Quote from: peteycamey on March 31, 2016, 12:15:29 AM

Will it have functionalities like InstantX and Darksend?

Darknet already has these functions

pjcltd

legendary

Activity: 1778

Merit: 1003

NodeMasters

Quote from: nara1892 on March 31, 2016, 12:15:08 AM

my wallet still out of sync Sad

help me please

Hi what version of wallet are you running?

Thanks
Paul

peteycamey

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Activity: 1185

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Will it have functionalities like InstantX and Darksend?

nara1892

hero member

Activity: 1792

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my wallet still out of sync Sad

help me please

StakeBox

full member

Activity: 226

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Quote from: jk9694 on March 30, 2016, 10:48:55 PM

Quote from: 4x13 on March 30, 2016, 09:49:55 PM

As we work on the PoS implementation that is still a few months away, We have been discussing some potential numbers for the Reward values for the PoS phase. We wanted to get everyones opinions, good or bad.. In the end this is a Community Driven Coin and thats the way we want it.

So here are some possible numbers, keep in mind that these are not in concrete, and are to stimulate some discussion. after a few days of discussion, if there are not any major issues i will post it for formal vote.

If for some reason you are not in favor, please explain why you feel this way.

PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET

PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET

PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET

PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after

let us know your feelings..

And what are you thinking for the masternode rewards?

The split between the masternodes and the staker would still be using the seesaw mechanism we had discussed before. The numbers for the split between stakers and masternodes are still being hashed out. Our intent is still to have masternodes be only slightly more profitable than staking on a per coin basis when the network is balanced properly between coins staking and locked up in masternodes. We are really just trying to see how everyone feels about the overall block rewards and coin production. Once we are switched over to PoS we can reduce inflation by lowering the rewards for each block. What we want to do is start a conversation about the pros and cons of such substantial rewards reductions.

jk9694

full member

Activity: 274

Merit: 122

Quote from: 4x13 on March 30, 2016, 09:49:55 PM

As we work on the PoS implementation that is still a few months away, We have been discussing some potential numbers for the Reward values for the PoS phase. We wanted to get everyones opinions, good or bad.. In the end this is a Community Driven Coin and thats the way we want it.

So here are some possible numbers, keep in mind that these are not in concrete, and are to stimulate some discussion. after a few days of discussion, if there are not any major issues i will post it for formal vote.

If for some reason you are not in favor, please explain why you feel this way.

PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET

PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET

PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET

PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after

let us know your feelings..

And what are you thinking for the masternode rewards?

4x13

legendary

Activity: 1078

Merit: 1011

As we work on the PoS implementation that is still a few months away, We have been discussing some potential numbers for the Reward values for the PoS phase. We wanted to get everyones opinions, good or bad.. In the end this is a Community Driven Coin and thats the way we want it.

So here are some possible numbers, keep in mind that these are not in concrete, and are to stimulate some discussion. after a few days of discussion, if there are not any major issues i will post it for formal vote.

If for some reason you are not in favor, please explain why you feel this way.

PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET

PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET

PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET

PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after

let us know your feelings..

jakiman

legendary

Activity: 1638

Merit: 1011

jakiman is back!

Quote from: Hamukione on March 30, 2016, 02:23:30 PM

But again.. A anon feature is not really gonna boost much.
Why suddenly buy into this coin when other coins offer the same?

Does anyone here have some points to make so I get a better understanding of the plan of this coin, or if its just a profit run.

DNET devs are working to create transations that are truly untraceable. Hence the name.
IF successful, it will be the first coin to have it. So that is "potential" worth investing in.
Anyways, like ANY coin including Bitcoin, just invest wisely and hope for the best. Wink

4x13

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If anyone is interested in getting more involved in Darknet, Please PM me with your skill set, whether you are willing to participate in a voluntary fashion, or paid means only.

Hamukione

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DeFiAddict.com - Crypto is addictive

But again.. A anon feature is not really gonna boost much.
Why suddenly buy into this coin when other coins offer the same?

What we are going for is to become an accual currency, right?

This is not FUD this is just me asking relevant questions because I cant see the reason why people should buy into this coin other than because of the masternodes that can make you money.
But at some point there will be so many, or the value of the coin has dropped too much for it to be worth have running.

That is what I can see is going to happen.
This is my opinion, not facts.

Does anyone here have some points to make so I get a better understanding of the plan of this coin, or if its just a profit run.

borris123

hero member

Activity: 728

Merit: 500

Quote from: mind808crime on March 30, 2016, 01:14:50 PM

Quote from: 4x13 on March 26, 2016, 05:50:27 PM

Quote from: Hazyel on March 26, 2016, 05:42:59 PM

Nice work. The coin is down right now, but hope it will go up very soon.

It is still relatively low, it will continue to rise as more services begin to roll out..

How about a revoke on MN payouts? I think it's becoming obvious now that they're too high...

its changing in few days to 50dnet which it was meant to be

Topic: [ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - PROOF OF STAKE - ZEROCOIN - page 465. (Read 782479 times)