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Development Update - Oct 1, 2014

Trusting someone with managing the masternode server is trivial, trusting them with your coins is not. A lot more people would pool for masternodes if it was trustless that is a reality, rewards can be changed after that if it is still necessary.

That's an educated guess, but OK, the MN currently checks one address for a 1000DRK vin - could it simply be made to check say five addresses for five 200DRK vins? Or x addresses for a total of 1000? Seems like that wouldn't be too hard a change to code up?
 
Make MN's p2pool nodes and require miners to use them? I've heard the 'forcing people to mine on p2pool is bad, you shouldn't be telling people wher to mine' argument and I think it's spurious. Want to mine DRK, mine on p2pool, it's in everyone's interests. Want to mine DRK, mine on a Masternood p2pool node, it's in everyone's interests and since MNs are already earning income, there need be no pool fee.
Combining mining pools with Proof of Service is an interesting idea... Would certainly solve the enforcement issues if you can't mine outside of the network and the MNs police it... This could work and would provide a path for integrating the payout system as a true hybrid proof metric while removing the stratum mod hack by just not doing that anymore... I believe there is genius to be found in this notion.
 
That's an educated guess, but OK, the MN currently checks one address for a 1000DRK vin - could it simply be made to check say five addresses for five 200DRK vins? Or x addresses for a total of 1000? Seems like that wouldn't be too hard a change to code up?

Exactly, Evan already said he would look into it. :smile:
 
Combining mining pools with Proof of Service is an interesting idea... Would certainly solve the enforcement issues if you can't mine outside of the network and the MNs police it... This could work and would provide a path for integrating the payout system as a true hybrid proof metric while removing the stratum mod hack by just not doing that anymore...
I think it would solve several problems at once, glad at least one person doesn't think I'm bonkers.

Don't like the game? Go play another game. Enforcing p2pool (with or without MN involvement) is a great idea IMO. Someone please tell me why it isn't...
 
the objective should be to get more MNs, not pump the price with supply manipulation...

Just keeping you honest... I don't want to see DRK swayed by shitcoin profiteering... Fundamentals should not be messed with just to pump value.

That's a fair point. Something to consider at the same time is that if the costs of running a masternode are doubled for the same reward, it makes running a masternode less profitable, less people will do it, more will sell, which could lead to a pretty scary spiral... could lead to masternodes running at a loss.
 
I think it would solve several problems at once, glad at least one person doesn't think I'm bonkers.

Don't like the game? Go play another game. Enforcing p2pool (with or without MN involvement) is a great idea IMO. Someone please tell me why it isn't...
If MNs are the mining pools, then nobody can scam it. Anyone can still run one, but it gives the dev control over how it operates.

Or take it further, just mine at the whole MN network and let it sort things out.

Another awesome thing that MNs can do. But, we need to figure out; just because one can do a thing, does not mean one should do that thing. This depends on how it might be implemented. Anyway, kinda off topic...
 
Hi all!! An economically healthy way to increase the masternodes is to increase the ROI with adding new services and attract clients. Those cients will buy the services that darkcoin offers and will pay fee. Those fees are the masternodes increasing income. So more services>more new income>higher ROI. So if ROI now is 25% and a new services sends ROI to 45% this will attract new investors to buy dark and set a MN. Then price goes up and the ROI returns to 25% from 45%. And you have more MN's working. I have 2.000 drk but I don't have a masternode because I don't know how to set up the MN. darkcoin web site has no guidance how to do it. So please find a way to help people who have coins to set a MN. Also I want to tell you that ROI is not stable, it is related to risk of an investment. If drk in the future has the growth btc has, then an attractive ROI will be lower because the risk will be lower. Thank you for reading!!!
 
the objective should be to get more MNs, not pump the price with supply manipulation...

Just keeping you honest... I don't want to see DRK swayed by shitcoin profiteering... Fundamentals should not be messed with just to pump value.

I aggree that the focus should not be on price, but on the strength and stability of the darkcoin network and wallets. With these will come a higher price.
 
Hi all!! An economically healthy way to increase the masternodes is to increase the ROI with adding new services and attract clients. Those cients will buy the services that darkcoin offers and will pay fee. Those fees are the masternodes increasing income. So more services>more new income>higher ROI. So if ROI now is 25% and a new services sends ROI to 45% this will attract new investors to buy dark and set a MN. Then price goes up and the ROI returns to 25% from 45%. And you have more MN's working. I have 2.000 drk but I don't have a masternode because I don't know how to set up the MN. darkcoin web site has no guidance how to do it. So please find a way to help people who have coins to set a MN. Also I want to tell you that ROI is not stable, it is related to risk of an investment. If drk in the future has the growth btc has, then an attractive ROI will be lower because the risk will be lower. Thank you for reading!!!
You can pay someone some DRK and ask them to set it up for you and teach you how. Also you can use Testnet to practice how to set up a MN.
 
Hi all!! An economically healthy way to increase the masternodes is to increase the ROI with adding new services and attract clients. Those cients will buy the services that darkcoin offers and will pay fee. Those fees are the masternodes increasing income. So more services>more new income>higher ROI. So if ROI now is 25% and a new services sends ROI to 45% this will attract new investors to buy dark and set a MN. Then price goes up and the ROI returns to 25% from 45%. And you have more MN's working. I have 2.000 drk but I don't have a masternode because I don't know how to set up the MN. darkcoin web site has no guidance how to do it. So please find a way to help people who have coins to set a MN. Also I want to tell you that ROI is not stable, it is related to risk of an investment. If drk in the future has the growth btc has, then an attractive ROI will be lower because the risk will be lower. Thank you for reading!!!
Whole bunch of Masternode guides here: https://darkcointalk.org/forums/guides.32/ - if a thousand other people can do it (including this idiot), so can you! :smile:
 
That's an educated guess, but OK, the MN currently checks one address for a 1000DRK vin - could it simply be made to check say five addresses for five 200DRK vins? Or x addresses for a total of 1000? Seems like that wouldn't be too hard a change to code up?

One last idea I had in favor of trustless masternode pooling, is that it would open up the possibility of existing masternode holders to offer shares, and let people pool with them. For example, if you run 10MN at this time, you could offer 20, 500DRK shares, and run 20MN instead. I would do this and not even charge people anything but just server fees so I could get more coins out of circulation. Since is trustless, and the shareholders control their own coins I would carry no responsibility. With this same rationale you can also offer smaller shares, and actively promote your masternode pool and charge a small fee just like mining pool operators do. I would not dare to do this right now because safe keeping of other people coins is too much responsibility for me, but would happily do it if the option to do it trustless exist.

So yeah masternode count could go substantially up with the creation of masternode pools just like mining pools currently exist. Is actually exactly the same thing joining resources together for a common goal. Miners can take their hashing power to any pool they like, masternode share holders could take their coins to any masternode pool they like too if it is trustless and they keep the control of their coins.
 
If MNs are the mining pools, then nobody can scam it. Anyone can still run one, but it gives the dev control over how it operates.

Or take it further, just mine at the whole MN network and let it sort things out.

Another awesome thing that MNs can do. But, we need to figure out; just because one can do a thing, does not mean one should do that thing. This depends on how it might be implemented. Anyway, kinda off topic...

I like the idea of using POS and POW, I'll see about implementing it.
 
Hi all!! An economically healthy way to increase the masternodes is to increase the ROI with adding new services and attract clients. Those cients will buy the services that darkcoin offers and will pay fee. Those fees are the masternodes increasing income. So more services>more new income>higher ROI. So if ROI now is 25% and a new services sends ROI to 45% this will attract new investors to buy dark and set a MN. Then price goes up and the ROI returns to 25% from 45%. And you have more MN's working. I have 2.000 drk but I don't have a masternode because I don't know how to set up the MN. darkcoin web site has no guidance how to do it. So please find a way to help people who have coins to set a MN. Also I want to tell you that ROI is not stable, it is related to risk of an investment. If drk in the future has the growth btc has, then an attractive ROI will be lower because the risk will be lower. Thank you for reading!!!
I have complete, step-by-step guides to setting up a masternode, and also always help those who are having difficulties with my guides. If you are interested, just go to PlanetCrypton.com. If you have any questions let me know.
 
One last idea I had in favor of trustless masternode pooling, is that it would open up the possibility of existing masternode holders to offer shares, and let people pool with them. For example, if you run 10MN at this time, you could offer 20, 500DRK shares, and run 20MN instead. I would do this and not even charge people anything but just server fees so I could get more coins out of circulation. Since is trustless, and the shareholders control their own coins I would carry no responsibility. With this same rationale you can also offer smaller shares, and actively promote your masternode pool and charge a small fee just like mining pool operators do. I would not dare to do this right now because safe keeping of other people coins is too much responsibility for me, but would happily do it if the option to do it trustless exist.

So yeah masternode count could go substantially up with the creation of masternode pools just like mining pools currently exist. Is actually exactly the same thing joining resources together for a common goal. Miners can take their hashing power to any pool they like, masternode share holders could take their coins to any masternode pool they like too if it is trustless and they keep the control of their coins.
masternode - a software farm
masternoders - a new kind of miners :)
 
MN pools have advantages (I gladly pay vertoe his 20% admn fee):
1. Little guy can participate with less than 1000 DRK.
2. No headaches of setup and administration.
3. The "luck" factor of payments gets averaged out right away.
 
I like the idea of using POS and POW, I'll see about implementing it.
I think we've become so accustomed to the idea of a mining pool, that we've forgotten that mining pools are an ad-hock band-aid for what is another severe flaw in BTC-centric crypto. MNs can fix this and eliminate the concept of a mining pool altogether.

Anyway, I think that's a topic for another day. Current fish need frying first. ;-)
 
Lowering the requirement to 500 drks? No way - would have to run 2 VPSes instead of one, twice the number of updates, twice the cost for running the MN for the same reward? Nope.

I agree with increasing the MN payments. 20% is obviously too little to attract 2000 MNs and equally obviously - 25% won't make a big difference. How about we start with 50% and adjust upward or downward based on the result? The hashrate will drop by 20-70% which is NOT an issue as there are coins with 1% of DRK hashrate that still perform well in terms of securing the coin.

That would also be a price discovery - accelerated one.
 
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