Topic: ◈◈Bitcredit ◈◈ Migrating to UniQredit◈◈ - page 199. (Read 284560 times)

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

Quote from: wasref on March 27, 2015, 02:12:20 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

Dude you are comparing apples to oranges.

Bank nodes are supposed to be limited in number. Having 2000 banks would completely ruin this idea.

Dash masternodes enhance the anonymity of the network, so the more the merrier.

And a Dash masternode requires 20 btc to purchase at these prices!!!

whats the idea? the idea here is more to cut supply increase price which will not happen indefinitely thus the model won't work. having this very limited amount of nodes manipulates the services the nodes provide.

i was more interested in the credit system for the coin , why is there no talk on that

Well, the OP used to teach economics and work in the banking industry. I'll take his word over yours regarding sustainability.

Sure, talk about the credit system. It's brilliant.

i trade the stock market. it doesn't take a genius to figure out why it won't go up all the time thus no point in becoming a node.

when dev is online i'l like to discuss my points with him

dbt1033

legendary

Activity: 1274

Merit: 1000

Quote from: dbt1033 on March 27, 2015, 02:09:20 PM

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

Quote from: dbt1033 on March 27, 2015, 02:11:38 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

Dude you are comparing apples to oranges.

Bank nodes are supposed to be limited in number. Having 2000 banks would completely ruin this idea.

Dash masternodes enhance the anonymity of the network, so the more the merrier.

And a Dash masternode requires 20 btc to purchase at these prices!!!

whats the idea? the idea here is more to cut supply increase price which will not happen indefinitely thus the model won't work. having this very limited amount of nodes manipulates the services the nodes provide.

i was more interested in the credit system for the coin , why is there no talk on that

Well, the OP used to teach economics and work in the banking industry. I'll take his word over yours regarding sustainability.

Sure, talk about the credit system. It's brilliant.

wasref

hero member

Activity: 555

Merit: 500

Everyone I hear complaining is just pissed because they can't afford a banknode.

Early adopters should be rewarded. They stuck their necks out first.

I will have a banknode. I paid over $1000 for it.

I'm sure someone got one for $500.

Who cares?

see my posts i bought some at 400 sats sitting on great profit, but i am in this coin due to my involvement in a similar project i am working on do not want to be a node,

wasref

hero member

Activity: 555

Merit: 500

Quote from: dbt1033 on March 27, 2015, 02:09:20 PM

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

Dude you are comparing apples to oranges.

Bank nodes are supposed to be limited in number. Having 2000 banks would completely ruin this idea.

Dash masternodes enhance the anonymity of the network, so the more the merrier.

And a Dash masternode requires 20 btc to purchase at these prices!!!

whats the idea? the idea here is more to cut supply increase price which will not happen indefinitely thus the model won't work. having this very limited amount of nodes manipulates the services the nodes provide.

i was more interested in the credit system for the coin , why is there no talk on that

dbt1033

legendary

Activity: 1274

Merit: 1000

Everyone I hear complaining is just pissed because they can't afford a banknode.

Early adopters should be rewarded. They stuck their necks out first.

I will have a banknode. I paid over $1000 for it.

I'm sure someone got one for $500.

Who cares?

dbt1033

legendary

Activity: 1274

Merit: 1000

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

Dude you are comparing apples to oranges.

Bank nodes are supposed to be limited in number. Having 2000 banks would completely ruin this idea.

Dash masternodes enhance the anonymity of the network, so the more the merrier.

And a Dash masternode requires 20 btc to purchase at these prices!!!

tokyoghetto

legendary

Activity: 1232

Merit: 1000

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

Quote from: dbt1033 on March 27, 2015, 02:06:05 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

pretty much this. If there is only 6 million coins in circulation (another 6 in escrow), then only 24 bank nodes can exist (meaning all coins are locked into bank nodes, and none exist on exchanges).

24 bank nodes. Some people already own more than 1.

something doesn't seem right.

You guys mention that there was an IRC discussion about the amount needed to run a banknode, anyone have the transcript of that? How many people were involved in coming up with that decision?

wasref

hero member

Activity: 555

Merit: 500

Quote from: wasref on March 27, 2015, 02:01:20 PM

Quote from: dbt1033 on March 27, 2015, 01:58:29 PM

Quote from: wasref on March 27, 2015, 01:56:44 PM

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

What the hell are you talking about?

you do know what the bank node is for right? its not only to give fix amount weekly

Bank nodes cannot manipulate the market.

Buying coins for bank nodes (and the reserves held within) helps create scarcity, increasing the value of all holder's coins.

i am not talking about the nodes manipulating the price, talking about the services the bank nodes will offer

wasref

hero member

Activity: 555

Merit: 500

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

Quote from: wasref on March 27, 2015, 02:01:20 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

dbt1033

legendary

Activity: 1274

Merit: 1000

Quote from: dbt1033 on March 27, 2015, 01:58:29 PM

Quote from: wasref on March 27, 2015, 01:56:44 PM

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

What the hell are you talking about?

you do know what the bank node is for right? its not only to give fix amount weekly

Bank nodes cannot manipulate the market.

Buying coins for bank nodes (and the reserves held within) helps create scarcity, increasing the value of all holder's coins.

thelonecrouton

legendary

Activity: 966

Merit: 1000

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

This is nonsense. A BCR BN is 5X cheaper than a DRK MN. Early adopters take risks and (sometimes) reap rewards.

There's also this wonderful thing called co-operation:

Wanted: people willing to partner up at 25000BCR/stake to run a joint BN. Please PM. Wink

dbt1033

legendary

Activity: 1274

Merit: 1000

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

Every month, an additional 2 million coins will be generated through proof of work. This is enough for 8 more bank nodes per month.

tombtc

sr. member

Activity: 471

Merit: 250

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM

Quote from: dbt1033 on March 27, 2015, 01:58:29 PM

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node. It requires a serious financial commitment.

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only give it to a few early adopters.

wasref

hero member

Activity: 555

Merit: 500

Quote from: wasref on March 27, 2015, 01:56:44 PM

Quote from: tokyoghetto on March 27, 2015, 01:54:01 PM