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replied 2031d
MNs allow decentralized funding voted on by stakeholders with 1k dash. They have skin in the game, so their decisions gotta be good. Dash core is funded from the blockchain, so no
replied 2031d
A built-in development funding system might be a good idea (though I'm not sure if it's actually necessary), but why do you need masternodes for this? Why not just let everyone vote?
anarchovegan
replied 2030d
Heard of Skycoin?
replied 2030d
I personally will only buy a mined coin. Non-mined coins can be printed endlessly until the earth goes flat. Oh wait some people already think the earth is flat.
anarchovegan
replied 2030d
There is no mining with Skycoin.
replied 2030d
Honestly, POW coins have BARELY proven themselves and they've been out 10 years. I don't think non-POW coins deserve the same level of trust yet.
anarchovegan
replied 2030d
What level of trust?
replied 2030d
That it can't be hacked/money stolen/that it works/that its economic model is solid. There are a lot of assumptions that btc gave us that these newer projects haven't proven themselves
anarchovegan
replied 2030d
PoW has a tendency for centralization via 51% attack, which is why eventually we might not be using BCH, as it shares this flaw with BTC, for memo.cash.

If that's your heuristic, gl.
replied 2030d
That centralization is fine because 51% is not really a big deal. Still censorship free, all old txs untouchable. That alone is worlds better than legacy.
replied 2030d
Yep, that's why I wouldn't buy it.
anarchovegan
replied 2030d
Ok :)
replied 2030d
So many coins... I think we need a technological solution to analyze coins against one another in a scientific way. How about a blockchain for this purpose? Let's call it #Coincoin.
replied 2030d
It's a wonderful idea, but I think they chew to much, they will choke on the execution (time). The idea itself will happen in some way or another soon though, with or without Bitcoin.
replied 2030d
I was thinking of just analyzing the features, cryptography, math and so on, not live performance.
You probably don't need a blockchain for this.
replied 2030d
Yep so many coins. Either the entire crypto market will come crashing down to 0, or a few select coins will survive. Only time will tell.
anarchovegan
replied 2030d
Skycoin enables making custom blockchains, so they've got that covered. Like going from books handwritten for kings, to the printing press.
replied 2030d
"Web 3.0" and proprietary hardware makes me suspicious. Impossible to tell whether there are some good ideas in all the new coins coming out, and whether those ideas will work.
anarchovegan
replied 2030d
Impossible? No. Hard work? Yes.
White papers, interviews, thinking, and using. What, after all, made BTC so popular? Easy to use! Initially.
replied 2030d
How many of the 5000 or so coins in existence have you analyzed or used, even superficially?
anarchovegan
replied 2030d
Not many. Perhaps you mean Impractical. I only contend that it's Impossible. Skycoin's match with fractals is why I was interested in it to begin with. Not many catch my eye.
replied 2031d
That's because their money came from AXA and blockstream. Their $$ incentives weren't aligned with the coins best interests. Dash has been innovating constantly oth for the last 4years
replied 2030d
BTC has indeed been corrupted, but most coins haven't so still not sure if coin-funded development is needed. But it's an interesting concept. You know how much of a tx goes to this?
anarchovegan
replied 2030d
There's a fork that maintains the original intent: Bitcoin Cash, which this social network actually operates on.
replied 2030d
I'm already on the BCH train. :-)
replied 2030d
Well, 10% of the block reward is voted on by the MNOs. That's transalated to about $1 mil per month for at least the last year into the Dash economy. Not many coins can say that...
replied 2030d
What is the point of mining and running a masternode being distinct activities?
What do non-master nodes do?
How much of the 10% goes to core dev., and what happens to the surplus?
replied 2030d
DCG to be worthy of based on past performance. Currently every expense is line-itemed in the budget. If there is no vote surplus i.e. full 10% is never created.
replied 2030d
MNs facilitate coin mixing, instant txs and governance functions and incur running costs. As such, they are given part of the reward for their efforts. How ever much the MNOs deem
replied 2031d
Because its sybil-resistant that way. You need 1k Dash/i.e. skin in the game to vote. Which makes it harder/more expensive to attack. You saw how easily btc was taken over right?
replied 2030d
Why not make voting power proportional to the amount of coins you hold? Seems like an arbitrary limit of 1000 would make attacks cheaper as long as you have at least that many coins.
replied 2030d
If we did that then it would be cheaper since most ppl don't have 1k Dash, but anywhere from .1 to 100. We'd get all kinds of spam. The limit makes it more exp.
replied 2030d
Well, the limit makes access to voting more expensive, but if you gain access you will have proportionally more power, right? The poor people won't have any say.
replied 2030d
The purpose of the MN and treasury is not for 'poor people', it is to direct the funding to projects that help Dash adoption. THAT is where helping the poor comes in like in Ven, haiti
replied 2030d
I was referring to attack resistance. If a bad actor can afford 1000 Dash they will have better prospects of success with the limit than if votes were proportional from 0, right?
replied 2030d
I don't think you can make that assumption. Its much easier to buy 1 Dash to vote than it is to buy 1k. If you're a bad actor, 1K is an easier investment to make, 1k means your serious
replied 2030d
Again we are debating entry level for voting vs power per coin.
If we assume that 1K limit excludes 50% of holders, then those who can afford 1K will have proportionally more power.
replied 2030d
To adopt your idea or why it should be done. It has to work better than what we've got. Right now you've only got a theoretical complaint, Dash is making real world moves. Little time.
replied 2029d
Yes, my complaint is theoretical, but you haven't presented a theoretical defense of the current model. Dash might be working great, but it's possible it could be working even better.
replied 2029d
Its possible and if a need to evaluate a new model arises we'll do so. But currently we have more pressing concerns.
replied 2030d
And you haven't proven 1. the efficacy of the current dash model 2. the superiority of whatever model you suggest replace it. Until you can do this you are not providing any incentive
replied 2029d
The model I propose would be proportional voting from 0 Dash and up. My reasoning is that you haven't proven any benefits for the arbitrary 1000K Dash limit.
replied 2029d
The benefit is that it is great and expensive enough to prevent people from buying up masternodes. Sybil proof. But we were talking about the proposal fee, not the MN cost.
replied 2030d
But that is not a good assumption to make because it presupposes that the price was always high enough to exclude 50% of holders. 1k Dash used to be really cheap for years. Bad assumpt
replied 2029d
I just picked 50% at random. My point is true with any number, I think. 1%, 99%, whatever.
replied 2029d
My point is also true at any number. W.e num you choose, you are presupposing the price was always high enough to exclude w.e. portion you picked. THAT IS NOT a good assumption to make