- Oct 9, 2014
SO after updating hot wallet and restarting, MNs are on for 17hours now. So seems to be all good!
It looks like you've already learned how to set up a masternode.conf for start-many. the donation option is easy now that you have that set up. You just add a receiving address and percentage at the end of each line in the masternode.conf. https://dashtalk.org/threads/bounties-growth-and-sustainability.4146/page-2#post-50984Bitemy...
can anyone point me to a thread that shows info about how to set up donations ? What about voting?
Let's discuss?ddink7 link=topic=421615.msg11115774#msg11115774 date=1429276549 said:Tante, you ask some excellent questions and give us much food for thought!
It may be helpful to put these things in context, though, by pointing out that nobody in the open source community has solved these issues. Up until very recently, one poorly-funded person was managing SSL. Countless Fortune 500 companies use SSL to make untold billions of dollars, but virtually none of them have ever invested a dime in the project. Even Linux--the backbone of many corporate systems around the world--is poorly funded and maintained largely by its creator (who is paid) and numerous volunteers.
If the open source projects that the entire IT community rely on are so poorly funded and maintained by amateur volunteers, it's not surprise that the open source crypto community should find that to be true as well.
Perhaps somebody who knows more about the open source movement and has worked with other open source projects can give us their thoughts on how to maintain Dash in a poorly-funded, post-Evan, volunteer-only world.
(N.B. One major difference between crypto and Linux or SSL is that the devs of crypto currencies usually own quite a bit of it, which means they are actually incentivized by the growth in value of their coin that results from their development efforts. If Evan hypothetically owned 100k Dash, he would be very motivated to continue full time on this project for a very long time, as his efforts will greatly increase the value of his holdings.)
There are very subtle differences in emphasis there but huge differences in outcome. If you get your priorities wrong you end up with no more than a distributed bookeeping system that increments a number in one private account and decrements it in another private account like the fiat banking system.
Bitcoin defined electronic "money" as distinct from "currency". The difference is that money is a base asset (like precious metals and stones) whereas currency is the certificates or "numbers in an account" that represent that underlying asset. You can't therefore mess with the bitcoin model other than very subtly without knowing what you are doing and understanding how your are affecting the value proposition at all times.
In that link above I cite an example of the approach that I think didn't do that and threw the baby out with the bathwater in the over-obsessive pursuit of a non-monetary property.
This is not different from the bitcoin mining situation. One must assume that all miners will by default sell their profit into another currency or asset, and any holding of the mining profits is an active choice of pure speculation/investment. That is why people are so concerned about a coin's emission curve and annual inflation. That monero, which currently has very high inflation rate, does not constantly creep down in price means that most miners are also speculators, and accumulating large positions, too.For every 800$ sold, there has to be 800$ in for the price to stay the same. So in 1 week at least 5600$ of fresh money has to flow in otherwise the price will go down. This is like a sell off pressure. So if a guy sells his coins like weekly this creates a big sell pressure. Actually owing 600 nodes is a big of a deal, as the person gets 10% of all mined coined (considerign MN count is 2400 and MN reward is 40%). So a single person is getting ~10% of all newly mined coins... Looking at his MNs, the coins are not being accumulated - this means he/she indead does sell off. This kinda sucks...and if a price of DASH goes up, so does the sell pressure. So this is a true wale on whose mercy the whole DASH project stands... Like this person could just screw over DASH so badly, he could kill this project with so many coins in his hand... I dont like it. Can it be that the info is not correct and there is no such person owning 600 MNs...?
P.s. Assuming the information is correct. Hope it is not correct!
eduffield said:Self-sustainable Decentralized Governance by Blockchain