Double voting

[Bits]

Could ppl who own multiple thousands of Dash operate a few nodes and vote more than once?
If so I see this as a long term problem where the very wealthy will be able to control the currency decisions and those too poor cant vote at all. Kind of like the issues with a poll tax...

 

[halso]

Could ppl who own multiple thousands of Dash operate a few nodes and vote more than once?
If so I see this as a long term problem where the very wealthy will be able to control the currency decisions and those too poor cant vote at all. Kind of like the issues with a poll tax...

Hi Bits. Dash is a bit like a company, the more shares you own, the more influence you have.

Its perfectly reasonable that if someone invests more, they should have a greater say.

I know some people believe Dash should be structured to solve all of the world's equity problems. But it's never going to do that.

 

[Bits]

Hi Bits. Dash is a bit like a company, the more shares you own, the more influence you have.

Its perfectly reasonable that if someone invests more, they should have a greater say.

I know some people believe Dash should be structured to solve all of the world's equity problems. But it's never going to do that.

Hi! thank you for that answer I appreciate it.

So theoretically if someone managed to get 51% of the masternodes they would essentially be the controlling owner of the "company".

 

[halso]

Hi! thank you for that answer I appreciate it.

So theoretically if someone managed to get 51% of the masternodes they would essentially be the controlling owner of the "company".

In theory yes. In practice no. The coin supply is well dispersed imo. Trying to purchase 51% of the supply would be a very costly exercise.

 

[Bits]

In theory yes. In practice no. The coin supply is well dispersed imo. Trying to purchase 51% of the supply would be a very costly exercise.

I agree.
Though there really is no way of knowing if a just few of the founders already control most of the decisions.
Not that that's even a huge issue only a few people actually have a real say with anything bitcoin. here at least those who are voting we know have invested interest per vote.

I'm just thinking in the future when Dash is a universal currency and the wealthiest individuals put together a vote that all new income should go to their own pockets..

 

[Bits]

The amount of coins created through rewards can't be changed though right? only the allocation of the 10% treasury? Could they change the 45% miner 45% node 10% treasury percentages for each with a vote?
If there was a hard fork decision that had to be made would it be up to the voters or majority of miners? I assume it would be up to the miners as they create the new blocks

 

[halso]

The amount of coins created through rewards can't be changed though right? only the allocation of the 10% treasury? Could they change the 45% miner 45% node 10% treasury percentages for each with a vote?
If there was a hard fork decision that had to be made would it be up to the voters or majority of miners? I assume it would be up to the miners as they create the new blocks

The founder of DASH Evan publicly stated he has 256,000 coins. Enough for 256 MNs (out of over 4000). However he has stated he does not use them in MNs and does not vote. And his intention is to use 80% of those coins for DASH related investments.

Another "whale" I know of only has 80 MNs. From what I gather, the coin supply has dispersed widely as a result of the price rise.

Re: Rewards, yes the block reward emission is pretty much fixed. That won't change. But the 45,45,10 is fairly arbitrary. It is plausible it could change. But as the network gets bigger, Imo these things become difficult to change.

 

[Voluntary]

The payout percentages were changed to become what they are now and they can be changed again if there's consensus.

 

[Nyk]

the 51% thing wont happen imo, if the technology takes off it will be much easier to use a different coin or just hard fork any problems. It isn't like the current system where there has been no other real option. As long as the masses want it the masses will get it, and the masses don't want corrupt trade.

 

[UdjinM6]

Suppose you have 51% of masternodes, what can you do then? Vote for something that damages Dash? Vote against smth that benefits Dash? Well, this would also affect your investment the same way it affects Dash as a whole. So, maybe pay yourself some/all budget coins? This would mean that there should be a corresponding proposal and this proposal can be seen by anyone i.e. everyone will be aware of your malicious actions. Guess what happens the very next moment once it's clear that you are trying to manipulate the system this way? 2000+ masternodes you hold would start loosing their value faster than equivalent amount of dollar bills would burn if you'd set them on fire. This would mean that you just literally burned 2M coins to acquire 6K... Good job.
So, in any case - good luck shooting yourself in the foot