Topic: [PHR] PHORE BLOCKCHAIN - Private Decentralized Marketplace & Ecosystem. POS/MN. - page 103. (Read 77951 times)

ATTENTION PHOREIANS!

MANDATORY WALLET UPGRADE! Attention ALL PHORE holders! You MUST upgrade your desktop wallets now to version 1.3.3.1. The NEW PHR Wallets are available for download on the Phore website here: https://phore.io/#wallet

Love that idea!

Has your platform can give customers one-click-masternode-setup service?
If it has been available, your platform is great.
Masternode projects will come automatically over time.

JUST PUBLISHED!

A paperback book about #Phore's history, present activities and future plans is now available on @amazon! A big thank you goes to the author, Christopher P. Thompson for his great work on this project. Here's the link: https://tinyurl.com/yczlbz3x

Masternode owners have higher incentives not to dump, there's a reason why they don't mind paying and maintaining for servers so others can have a more robust blockchain. If you are knowledgeable enough to run a masternode, then you most likely are into crypto for more than the monetary gains.

But the monetary gains that come from time to time are a nice bonus 

Phore to attend and sponsor the Blockchain Futurist Conference in Toronto, Canada, August 15th - 16th.

Phore Blockchain will have a booth space and we hope to see you there!

Register for the conference here:  https://futuristconference.com/#about

It is very promising partnership.
Platinum Circle is one of the good one in Singapore.
In addition, the price chart gives me a greedy feeling to hop on with PHORE project immediately.
https://coinmarketcap.com/currencies/phore/

That's not happening for sure, at least you can never assure that!
Peoples might sell, peoples might need cash, imagine just 20 node owners dumping their coins, Umm, that won't be good.

We're proud to have been named Coin Insider's Number 1 in terms of Sentiment on Twitter!



--------CLICK HERE FOR FULL ARTICLE!--------

Phore is also the twitter sentiment winner of this week



https://www.coininsider.com/analysis-sentiment-on-13-coins-that-are-fire-right-now/

Phore Blockchain Partners with Platinum Circle - Will Co-Chair the Global Assets and Wealth Initiative (GAW) and GAW Forum in Singapore, August 31st to September 1st

Details are found here: https://medium.com/@phoreblockchain/phore-blockchain-partners-with-platinum-circle-ec99b6a26f2e

ANN OP links to wallets v.1.2.2.

However, I see an image in #Announcements in the Discord: "Mandatory wallet upgrade.  Please upgrade all wallets to v1.3.2.".  This image was posted on the 13th of July.

Here is a current list of Phore's partnerships:

Reddcoin - $RDD to be added to the Phore Marketplace eCommerce

UniFox Network - $PHR to be added to global ATMs and Point of Sale Terminals

Stonecash - $PHR to be used in cross-border transactions supporting the stone industry

The "problem" from an trading perspective is dissolving a masternode without influencing the price too much. Looking at Dash, I do think if someone bought a Dash node 2 years ago, I do not think they would be inclined to sell now. I know I wouldn't. If Phore achieves even just remotely that success, I think people will hold onto their nodes.

That's true, by time the price might soar, it would be really hard to get a masternode up and running, if masternode owners becomes rich, they will start selling, then, no new masternode owners will be there and that could be somehow and issue
Phore just showed that its solid, it didnt dump, it is my best coin!

Thank you for this argument.

And yes I know what the masternodes do for the network.

Then I agree that the collateral must be high to limit the risk of attack or malice in governance.

That said, we must not have a short-term vision. Phore is now a low ranking marketcap, and the price of a masternode is disproportionate to the risk associated with this type of project.

That Phore is a serious project, I want to believe it, but I will find that 1000 Phore would be more reasonable in the long run. When you run a business in the long run, you have to make long-term decisions. And for me, 10000 Phore is not a good decision for the long run, but reflects a short-term speculative decision.

And if it is a reflection of a community decision, it may also reflect a type of investor, rather short term than long term.

Look at projects that have a final supply equivalent to yours and that is growing very well .. Dash, Zcoin. They chose 1000 as collateral. A reasoned choice and long term. There are of course projects that have made the same type of choice as you, but I think the same thing, that it is a bad choice in the long run.

Thank you for these explanations, and pity, invest a masternode in a lowcap project, as good as it is, is risky for me. $ 12600 is not nothing.

A few points here:

1. One of the primary functions of masternodes for Phore, and I think for most masternode coins at this point, is community governance. The 10,000 PHR collateral, similar to the concept of proof of stake in general, is to make sure that the decisions masternode owners make are in the best interest of developing Phore. If we had a very low collateral, it might be very inexpensive for someone to be malicious about things, buying masternodes and for example casting no votes to the core team budget to prevent it from passing, just as at attack on the network. This is not feasible with the cost of the masternode being high, since you have such a large investment and would end up taking a large loss yourself by doing that.

You could very much consider a masternode owner as a decentralized member of the Phore board of directors, with one vote per masternode owned. I think there is an argument to be made that it should be expensive to have that voting power, and as the market cap of Phore increases, so should the collateral that goes with the responsibility of making those decisions.

In summary, higher collateral protects the Phore network.

2. At the outset of Phore, the price of Phore was miniscule compared to what it is now. When I first purchased Phore I think I paid in the neighborhood of 3000 satoshis, and a masternode cost about $3,000. Now it is many times that. Could we consider lowering the collateral amount? Certainly. We are a community governed project and the community could vote at any time to do this if we thought it best.

3. I am a bit puzzled at your argument that more masternodes bring more security than more decentralized proof of stake. Do you understand what masternodes actually do? In some cases they handle things like SwiftTX for "instant" transactions, and for that I might agree with you that more decentralized masternodes provide greater security for those types of transactions. However apart from SwitfTX, technically speaking, masternodes for the majority of projects validate transactions and blocks like any node, but they do NOT stake and therefore do not decide what the next best block should be, other than rejecting invalid transactions or blocks as any node would, and in this sense they do less than staking nodes since they do not stake themselves and therefore are not in competition for deciding what the next block looks like. From a network security standpoint, we would be much more secure by doubling the staking nodes and coins being staked than we would by doubling the masternode count.

4. Phore is developing Synapse Masternodes which will dramatically change the function of masternodes in the Phore network in a completely different way than any other masternode project, helping to secure our smart contracts sidechain. We are still designing aspects of this including the crypto economics of it, and I think it is quite possible that we could be changing the collateral structure or even adding a separate tier of masternodes for Synapse Masternodes. I am not prepared to release a lot of details publicly about Synapse masternodes yet, but given their role with smart contracts, I would at least be able to say that we will need a certain level of processor / storage / bandwidth / memory capacity as smart contracts scale for Phore, and we will be designing the structure to account for these needs.

Sorry, but i dont care about your opinion.

If many crypto coins have chosen 1000 as collateral for 1 masternode, it's not for nothing.

If 600 masternodes in the world is enough for the team, that's their opinion.
It's not mine.

For a total supply like Phore will have, it would be more reasonable to encourage the development of a larger number of masternode. Like Dash / Zcoin (3500/4500), or even better Zencash (10000+).

The more masternode there is, the stronger the network. The proof of stake simple is not as secure as a high number of masternode, it is obvious. And these are the masternodes that allow to have fast and secure transactions.

In short you defend Phore, I can understand it, but try to have an objective opinion.

Correct. The amount of masternodes btw has reached a state of parity. This means, a masternode earns you as much as you'd stake 10.000 Phore. Whether you have 10.000 or 1000 Phore, the amount of stake/rewards is nearly equal. (ROI is around 38%)

I disagree! If you can't affort a masternode you can still stake your Coins and help to decentralize and this is huge! Of course a Masternode owner will get more rewards but staking is profitable too, at the moment you can stake every amount and in the future it seems you need at least 100 Phore.