Stuff i dislike about dash

[odincoin]

Generally dash/darkcoin is very interesting currency but there is curently two issues i have with it
-already mined by asics when not even 50% of the coins has been minted
-exponential decrease in block reward, this is not needed for limited supply, it would also be limited with the block reward formula 1/(1+b*N^2) where N=blocknumber. I do not think it is a good idea to keep the network dependent on mining fees.

I am not a developet so i cannot really create my own coin. Also there is a huge first mover advantage, bitcoins sucks compared to most(popular) altcoins but it is still is worth almost 10 times more than all other cryptocurrencies combined.

Will dash end up being just as centalised as bitcoin? is early ASIC mining bad?

 

[tungfa]

ust as centalised as bitcoin? is early ASIC mining bad?

ASIC mining (or any) is only bad it it is centralised !
If we would have now 1-5 HUGE farms out in china controlling the whole hash rate , than we would be in trouble (centralisation) but we are not,
the hash rate is nicely distributed all over as far as i know
+ evan mentioned some plans in case that 'mining centralisation' suddenly comes for us

 

[nmarley]

Generally dash/darkcoin is very interesting currency but there is curently two issues i have with it
-already mined by asics when not even 50% of the coins has been minted
-exponential decrease in block reward, this is not needed for limited supply, it would also be limited with the block reward formula 1/(1+b*N^2) where N=blocknumber. I do not think it is a good idea to keep the network dependent on mining fees.

I am not a developet so i cannot really create my own coin. Also there is a huge first mover advantage, bitcoins sucks compared to most(popular) altcoins but it is still is worth almost 10 times more than all other cryptocurrencies combined.

Will dash end up being just as centalised as bitcoin? is early ASIC mining bad?

I don't think you can compare it apples-to-oranges with Bitcoin. With Bitcoin, miners have a much larger role, but with Dash, a lot of the responsibility for securing the network is shared with the masternode system.

 

[UdjinM6]

There is a long road for the network to be dependent on mining fees only http://dash.org.ru/pages/emission.php and I'm not sure why it's that bad.
As for ASCI mining, see network hashrate distribution https://dashninja.pl/blocks.html#perminer or https://chainz.cryptoid.info/dash/#!extraction and decide for yourself (previously we had coinmine.pl at 50%+ almost constantly btw).

 

[odincoin]

There is a long road for the network to be dependent on mining fees only http://dash.org.ru/pages/emission.php and I'm not sure why it's that bad.

Well if the network is dependend on fees only it means that the ones spending the coins will have to pay for the security of the ones not spending any coins.

I am pretty sure most coins will have to implement a constant block reward eventually(hard forkning). Here is some alternatives to exponentiak decrease(all lead to limited supply).

Reward = a*(max-supply)^2 which results in Reward = A/(1+Bt)^2

Reward = b/(1+c*t)^1.5

 

[UdjinM6]

Well if the network is dependend on fees only it means that the ones spending the coins will have to pay for the security of the ones not spending any coins.

I am pretty sure most coins will have to implement a constant block reward eventually(hard forkning). Here is some alternatives to exponentiak decrease(all lead to limited supply).

Reward = a*(max-supply)^2 which results in Reward = A/(1+Bt)^2

Reward = b/(1+c*t)^1.5

Interesting point of view about fees. However, if there is situation when most people do not spend coins at all then network is pretty much dead anyway so who cares about security
Basically, I believe in this:

Re: What's with this odd generation?
Bitcointalk
2010-02-14 15:52:23 UTC - Original Post
Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.

http://satoshi.nakamotoinstitute.org/posts/bitcointalk/57/

 

[demo]

Basically, I believe in this:

Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.

I also believe this. I'm sure that in 20 years there will be no volume at all. Because BTC's protocol (and unfortunately also dash's, although dash can change if the MNs decide) is a quick rich protocol which does not respect future generations.

And future generations are not idiots like our generation is.

And we are idiots, because we believe in fast mined cryptocoins and because we treat the newcomers as the faithful servants that are about to believe in the accumulated cryptocoins we posses and serve and respect us, serve and respect our virtual wealth and our goals.