Topic: [PHR] Phore - 100% PoS 3.0 - Masternodes - Zerocoin - Governance No ICO/Premine - page 33. (Read 67723 times)

Dont regret my friend, the space is still young and there are always new investment opportunities showing up. If life closes one door, another one opens. Simple as that.

I did sign up on crpytopia only to buy some PHR, my guess is that it will be way more expensive until it will reach other exchanges.

Wow you guys are growing like crazy

Congratz an a warm welcome to the new team members!

Today we welcomed 1 Marketer and 1 Advisor to our team

Portuguese masternode guide and white paper

https://github.com/phoreproject/documentation/blob/master/raw_documents/Phore_White_Paper_PT.pdf
https://github.com/phoreproject/documentation/blob/master/raw_documents/Phore_Masternode_Guide_PT.pdf

Argh why do I keep missing these obvious investment cases? I will buy a few once the coin hits some of the exchanges I use which it will at some point for certain. Project looks great, but I am so sad I missed the boat which is a master node.

Yes, DMD trade volume is low (which is why the Dev is actually urging people to sell some, which in itself is a pretty strong signal), but my point is DMD is more than four years old and had slow steady growth for most of the time, so quite the opposite of an unstable coin. The Masternode number has also been growing since the introduction of Masternodes, so at least some people seem to be willing to invest quite a lot.

I also disagree that investing in a MN and selling a MN for the same price is the same, if you hold a MN for a long time you know rewards work, are stable etc., and you are also psychologically more invested in the coin, but at the end of the day everyone has their own investment strategy...

It's simple. If you had million would you buy dash masternode? if not then you would probably sell it for million.
There are multiple reasons to kill the goose. one you could get two goose by killing and selling one, you could get 10 years of worth gold eggs by killing one. Sometimes it's more profitable to kill and sell the goose than waiting next 10 years to get same amount of golden eggs.
It's not why to kill the goose! it more of "it is profitable to kill the goose."?

Don't get me wrong. I really like this project. I really hope to see this project to shine. that's why I wanted to bring out my concern. I would hate to see this project to fail!

If the price gets too high, the rewards you get from masternodes would keep you in the game.
Why wants to kill the goose which lays golden egg everyday?

Just checked DMD diamond and that coin doesn't look healthy at all. 24h trade is only 160k which is below 10k coins. So 24h trade is less than one masternode! Seem's like really unstable coin which could be below 1$ tomorrow. Selling masternode would dump the coin down heavily. put that in perspective it would be same as dumping 726854 bitcoins to market. Although with bitcoin there would be actually buyers in the market.


Well dash masternode is 1000 dashcoin, if it was 10x more expensive there probably would be a problems. It's has taken lot of time to dash to get where it is. We can also argue that if dash masternode was 10k from the start it might have died long time ago. Second question is if this coins get to 100$ mark in two months would you keep Phore's masternode or swamp it to dash one? Price would probably be the same? Price point at 200$ you could just buy two dash masternodes. This is the one reason why I'm concern. High masternode price is putting cap into coins market price potential and it would lead low masternode count which could kill privacy coin.

Have you seen how expensive is a DASH masternode now? Did you see any issues with the dash network yet?
I dont think it really matters.

I have bought some 200 phore's, now I enabled staking via the conf. file and the staking is active according to the small indicator in low right corner.

Under combined balances my PHR amount is shown correct but there are 0.00 locked phores. I though you would have to lock your coins to be staking. Am I actively staking at this moment with no locked coins?

Yep this is my biggest concern. Other than that project look very promising. It's just that 1000 phore masternode could have been better solution for long run. Specially when there are only ~12 millions of coins. That would have keep masternode affordable longer time period, make masternode count healthy even if price would be something like 100$ (which is only 1b market cap?). Right now I don't see it could reach that price without reducing masternode counts to really low. Also affordable masternode would have made price go up faster. Now 10$ would probably have been 100$ with cheaper masternode.

Other solution could have been to made 100 million coin supply. (It would have made coin more stable and easier to trade.) In price point higher amount of coins is actually better. It's easier to get high market cap when there are more coins. People are more willingly to buy 10$ coin than 100$ or 1000$ coin. Even if it doesn't matter price wise. Like if you now have 10 000 coins then if supply was 100 million you would now have 100 000 coins in same price. However psychologically it matters. I think it's one of the reasons why example verge is now close to 1b cap and It's not even good privacy coin! (it just look cheap when it's only 5 cent a coin, when market cap wise it's really expensive.)

Yes, I see what you are saying, and to a certain extent Masternodes are uncharted territory, as they haven't been around that long. Current shared masternodes indeed require you to give the coins to a third party, which is not ideal, but depending on the reputation of the third party I feel this is similar to using an exchange, which also requires sending funds to a third party. I am not involved in the development of PHR, so I'm not sure if in-wallet shared MN are possible, but obviously this would be great.

At the moment we have about 350 MN, which is a lot. Yes, if the price rises, MN owners might be tempted to sell, but at the same time, unless you urgently need cash, why sell, if you can just keep the MN and continuously get rewards? I think most current MN holders will keep theirs. Yes, it would be difficult for someone starting from scratch to acquire a full MN, but you can accumulate over time and you still get POS rewards, even if you hold much less than 10k. For people looking to make a quick buck that is a different story, but PHR is probably not the right coin for that anyway...

True, but I feel low masternode count could be an issue for privacy coin? It's true that when there are low number of masternodes then the rewards are better. However when to get those rewards would need milloins of dollars at risk it would be an issue itself. Even if the ROI could be really good the problem would be that very few people even have that kind of capital to invest in first place. Secondly are those who have that kind of capital, ready to invest that kind of money in long run into one coin? Year at crypto world is really long time.

I'm not familiar to shared masternodes.. Do you need to give your capital to 3rd party to participate? Isn't that huge risk? How do you know they don't just disappear after a year? If dev's could code shared masternode options into the walled then it's obliviously different story. If you could just lend your coins to masternode owner (who can't access or withdraw those coins and coins are there only to activate the masternode) it might work out.

If you look at DMD Diamond, they also have 10k masternodes, and 1 DMD is currently around $18. Yes, this is very expensive and too much for many people, but there are shared masternodes available (same as PHR), and there is also normal POS staking.

Also, the fewer masternodes exist, the higher the reward per masternode. This means ROI will always be high for masternode holders, and should lead to a good balance between masternodes and normal POS minting.

This project looks really promising. But I have few questions. How important those masternodes are for the network? I feel that 10k phore might be to high price for masternode. Right now it works perfectly, but if this hits mainstream and coin cap rises to 1-3B. Then those masternodes are worth millions. This could be huge problem. First most average joes probably start to sell their masternodes. Million would be life changing for most people and keeping that amount in one coin might feel too risky. Also there are hackers and other problems that might make people to sell. Secondly new masternodes would be way too expensive to buy, so no new masternodes, unless price dumps a lot.

My other concern is that high masternode price could also make a price cap to this coin. Like even if the coin rises to 10$ (that would be 100k masternode) It might already make snowball effect where most master nodes would melt to the market. dumpin coin back down. If you did buy masternode for 5k then 100k might feel really tempting. Also low masternode count could start to centralize the network which could be a problem.

I feel this is my only big concern about this coin.. Low coin supply and high masternode price could lead only handful of masternodes in long run. Which I feel could be bad for privacy coin?

Around 11.4 M coins supply at the moment. Information on supply and inflation can be found here:

https://chainz.cryptoid.info/phr/#@inflation

Also worth mentioning that about a quarter of coins (3.5 M) are currently locked up in Masternodes.

Phore MN was on my list. I missed the train. Out of reach now. Congrats to the MN owners!

What is the real total supply now? And where can this information be found? 

Can you try making a shortcut to phore-qt.exe, and in the "target" of the shortcut you put -salvagewallet after phore-qt.exe, so e.g.

c:\phore\phore.qt.exe -salvagewallet

Then run this.

You start the daemon just with "./phored"

Once the deamon is running, all the other commands are done with phore-cli, such as "./phore-cli getinfo", this is what the second error message is trying to tell you.