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What do you want to see?

A random poll  

124 members have voted

  1. 1. PoS Masternodes? aka. shall we ever fork?

    • Yes
      95
    • No
      29
  2. 2. Trading APIs in Wallet QTs for Denarius (Once some are available)

    • Yes
      103
    • No
      21


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But we got stake, forum. 

Which does the same thing but for all token holders, even smaller ones (isn't it?).

Or are we just hype-followers, spinner buyers? 
I wouldn't go with the fashion just because.
Ofcourse, I wouldn't mind to change my mind, if you could show some mathematical proof, analysis, arguments, benefits of implementing master node besides Oh-look-those-other-guys-grew-so-good-that-we-need-to-repeat type of sh!t.

Edited by RusRap
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2 minutes ago, RusRap said:

But we got stake, forum. 

Which does the same thing but for all token holders, even smaller ones (isn't it?).

Or are we just hype-followers, spinner buyers? 
I wouldn't go with the fashion just because.
Ofcourse, I wouldn't mind to change my mind, if you could show some mathematical proof, analysis, arguments, benefits of implementing master node besides Oh-look-those-other-guys-grew-so-good-that-we-need-to-repeat type of sh!t.

agreed

imo its not something we need now

but if people want it now because everyone want it... well, what we can do lol

 

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This is for balance the talk of masternodes as the people are only seeing the bright side but it has a large list of cons and weakness in long term:

Threats and Weaknesses of investing in Masternodes

  • Large coin amounts concentrated in the hands of a few that are used to create many master nodes could pose risks to the coin. This situation could put the master node counts, in jeopardy if, for example, the whales decide to quit the coin and liquidate the collateral backing their masternodes, this concentration has benefits as long as these whales have the coins long-term best interest in mind.
  • Master node service providers and individuals with many masternodes could concentrate nodes in specific data centres and locations. These economies of scale would reduce the cost of hosting, but make the nodes and the cryptocurrency more easily susceptible to physical or electronic attack.
  • Nodes are susceptible to DoS (Denial of Service) attacks, mainly when hosted on cheap and weak hosting accounts.
  • The price of a masternode can increase to such an extent that masternode owner’s capital becomes too concentrated in one asset. Such concentration brings concentrated risk and investors might choose to liquidate the coins backing the masternode in order to diversify them.
  • The legality of a masternode is unclear. They provide a location where mixing take place but are not mixing coin themselves. For regulators, though, MNs could be an easy target.
  • Masternodes could face specific regulatory challenges because of the services they provide.
  • Masternode revenue is reduced the more masternodes come online.

 

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3 hours ago, AiresDF said:

This is for balance the talk of masternodes as the people are only seeing the bright side but it has a large list of cons and weakness in long term:

Threats and Weaknesses of investing in Masternodes

  • Large coin amounts concentrated in the hands of a few that are used to create many master nodes could pose risks to the coin. This situation could put the master node counts, in jeopardy if, for example, the whales decide to quit the coin and liquidate the collateral backing their masternodes, this concentration has benefits as long as these whales have the coins long-term best interest in mind.
  • Master node service providers and individuals with many masternodes could concentrate nodes in specific data centres and locations. These economies of scale would reduce the cost of hosting, but make the nodes and the cryptocurrency more easily susceptible to physical or electronic attack.
  • Nodes are susceptible to DoS (Denial of Service) attacks, mainly when hosted on cheap and weak hosting accounts.
  • The price of a masternode can increase to such an extent that masternode owner’s capital becomes too concentrated in one asset. Such concentration brings concentrated risk and investors might choose to liquidate the coins backing the masternode in order to diversify them.
  • The legality of a masternode is unclear. They provide a location where mixing take place but are not mixing coin themselves. For regulators, though, MNs could be an easy target.
  • Masternodes could face specific regulatory challenges because of the services they provide.
  • Masternode revenue is reduced the more masternodes come online.

 

Some very good points AiresDF. Their are both pro's and con's to masternodes, and it is something that will need to be looked in to in full for Denarius. I myself are not sure on which would be the best course of action.

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I know this is off topic but since we are talking about wallet features, how about a calculator?

Maybe it sounds silly but when I have 5 open wallets and am sending and receiving I always need a calculator or two. It could just be a feature where the selected addresses in the transaction window show a total below next to the staking icon. Or a popup window where you can send selected amounts. It would save me, at least, a lot of time and work! It would be simple to implement (I guess) and denarius would be the first wallet with incorporated calculator(If I am not wrong)

 

?

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Another idea. :)

What can be done so that DNR becomes more available? Complicated procedure for purchasing DNR as first crypto currency. First someone will have to buy BTC and then transfer to exchange and buy DNR. And on every step someone will take provision. Can someone make a site when it is possible to buy DNR with cards, Paypal, Skril, ...?

Welll this is not DNR feature, but I considered that it can't hurt if I post this in this thread.

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39 minutes ago, Vlado said:

Another idea. :)

What can be done so that DNR becomes more available? Complicated procedure for purchasing DNR as first crypto currency. First someone will have to buy BTC and then transfer to exchange and buy DNR. And on every step someone will take provision. Can someone make a site when it is possible to buy DNR with cards, Paypal, Skril, ...?

Welll this is not DNR feature, but I considered that it can't hurt if I post this in this thread.

I was thinking about it and if there was such an option I would be all for it and if somebody wants to trade their DNR for cash I would trade. 

 

The problem is however that crypto is very volatile and the pairs are all with BTC as there is no other liquidity at all as nobody really accepts it (which is the only way how to make stuff like DNR valuable and top coin - find people who will accept it). So despite seing stuff like "DNR is 0.4 USD" it actually is not. Somebody would have to set it up and connect it to their wallet. 

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@Vlado It's a bit complicated, since in order to do this, you need to provide an Exchange website, where the sells and buys will have an impact in the price. Otherwise just selling and buying coins for USD/EUR etc is only to help other new users in DNR , but the price is going to be fixed by others. What I'm trying to say is , that I can provide you a x amount of DNRs for bucks or euro and I will be glad to help you , but I would prefer helping you and at the same time after a buy the price to climb from 0.391$ to 0.397$

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On 7/18/2017 at 8:01 AM, AiresDF said:

This is for balance the talk of masternodes as the people are only seeing the bright side but it has a large list of cons and weakness in long term:

Threats and Weaknesses of investing in Masternodes

  1. Large coin amounts concentrated in the hands of a few that are used to create many master nodes could pose risks to the coin. This situation could put the master node counts, in jeopardy if, for example, the whales decide to quit the coin and liquidate the collateral backing their masternodes, this concentration has benefits as long as these whales have the coins long-term best interest in mind.
  2. Master node service providers and individuals with many masternodes could concentrate nodes in specific data centres and locations. These economies of scale would reduce the cost of hosting, but make the nodes and the cryptocurrency more easily susceptible to physical or electronic attack.
  3. Nodes are susceptible to DoS (Denial of Service) attacks, mainly when hosted on cheap and weak hosting accounts.
  4. The price of a masternode can increase to such an extent that masternode owner’s capital becomes too concentrated in one asset. Such concentration brings concentrated risk and investors might choose to liquidate the coins backing the masternode in order to diversify them.
  5. The legality of a masternode is unclear. They provide a location where mixing take place but are not mixing coin themselves. For regulators, though, MNs could be an easy target.
  6. Masternodes could face specific regulatory challenges because of the services they provide.
  7. Masternode revenue is reduced the more masternodes come online.

Here are my thoughts on these points.

  1. Whales are almost present on every coin, it matters not if the coin implements masternodes or not, the whale could in theory decide to dump their entire stash, but why would they? Partial dumping maybe, but dumping the entire stash is very unlike in my opinion.
  2. This is true of hosting regular nodes as well to some degree.
  3. Again, true for both masternodes and regular nodes.
  4. True some might be faced with this dilemma. But if there are for instance 200 nodes, chances are that not everyone will liquidate their nodes collateral at once.
  5. I have no experience in the legal part of crypto, but will say this; Chances are that even if one country decides to ban masternode tech, other countries will allow it, so it is simply a matter of moving the masternode hosting to one of those countries.
  6. Same as above.
  7. Not sure this is has to be a bad thing.

Descicions regarding masternodes are like walking on a knifes edge.

Too much collateral required means not much decentralization, too little collateral and masternodes will probably pop up on less than able hardware making DoS attacks easy. Also, the more DNR collateral is required to run a masternode, the less DNR is on the market meaning less selling pressure. 

Too high a reward and miners will complain about losing too much revenue but will incentivize masternode operators to keep running their masternode. Too small a reward and masternode operators might decide that running their node is not profitable enough, thus making them shut down their node and sell off their collateral.

I have previously suggested making the collateral 2000-3000 DNR.

This is just off the top of my head, but let me know what you guys thoughts are.

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I am nieve in the topic as i have never owned a masternode. I however see some of my fellow crypto friends always mention the next best masternode to get in on.
I feel having a masternode would open us up to a whole new group of potential DNR backers/supporters. 
As Kawaii said, i feel around the 2-3k mark would be ideal, as the coin grows in popularity that price should still be obtainable to more newer investors! Having the amount above the 5k mark seems a little too far out of reach and might turn some investors away.
I feel the pros can outweigh the cons especially for the legal aspect being able to move the server to a country that will support the node, makes sense and is easily achievable.

I would love to hear more about this as i am new to the idea, as of now i am still leaning on the side of seeing masternodes being implemented!

 

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Not sure if this is a real issue or not, but I read you had to hack some config file in Mac OS to enable staking.  If true, fix that. Staking should be automatic.  Also, if there is anyway to compress some of the blockchain this will help speed up the install on new nodes.  Overall, I love this coin!

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7 hours ago, eMiner49er said:

Not sure if this is a real issue or not, but I read you had to hack some config file in Mac OS to enable staking.  If true, fix that. Staking should be automatic.  Also, if there is anyway to compress some of the blockchain this will help speed up the install on new nodes.  Overall, I love this coin!

You can grab our chaindata.zip anytime from our Gitlab, it is updated roughly every 6 hours or so. Staking by default is set to enabled. If you want to disable staking you want to add staking=0 to your denarius.conf

Direct Link: https://gitlab.com/denarius/chaindata/raw/master/chaindata.zip

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While doing I recent review of lots of PoS coins, I came across a few interesting features from other coins which I think would be great to get implemented with DNR, but would be interested to see what you all think. Here's a just a couple of ideas:

1. Masternodes made easy - We all know MNs are tricky to set up. They are near impossible to set up for those without a bit of computer knowledge. It would be great if Denarius developed a MN which could be set up just by downloading an application and installing. Alternatively (but possibly more difficult), would be the sale of Secure Home Nodes which can be plugged in at home and let to run a MN without much set up difficulty. See Bulwarks: https://bulwarkcrypto.com/secure-home-node/

2. PoS lottery blocks - I also took this from Divi coin. Every week (or fortnight, or month) one user who holds over a certain quantity of DNR and stakes them will win a 'lottery block', which holds a significant quantity of DNR (could be a masternodes worth for example).

Denarius is great, super fast and excellent for transactions- but having something new which will entice investors will benefit us all. 

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