Re: [ANN][SPR] SpreadCoin | True Decentralization (No Pools)
So far, this is nothing more than a glorified clone. The no-pool thing is gimmicky without standing the test of time in terms of whether or not this really will prevent creative pools from mining. Besides, isn't there a miner (or group of miners) that control in excess of 20% of the existing network hash. How is that decentralized?
Hmmm...
Further, the current distribution coupled with lack of volume only indicates that when the masternodes do come into play, it's going to remain incredibly centralized with only a handful of parties involved. When you have people owning in excess of 7% of the outstanding coins, you have problems.
There are at least 4 people that I know of who each own more than or close to 7% of all DRK, but only one is left in the rich list as the others have split it up to run Masternodes. Hundreds, each.
What was your point again?
There is a fundamental difference here that can't be ignored. In that pie chart from SPR that you show the different percentages represent large mining farms or individuals that can take advantage of the absence of pools and monopolize the network from a rewards perspective, these people are getting all the coins, some mining with optimized miners.
In the pie chart from DRK those larger percentages represent a lot of different individuals. Pools were created for a reason it facilitates a larger group of people to come together and mine and compete with large individual miners. By keeping pools away you are only making it easier for large farms to abuse the system, it creates new weaknesses.
A better solution would be to create a better P2Pool system that allows both pools and a better decentralization, which is a novel goal but not quite accomplished by the no pools approach. In my opinion it is just something to sell people on but not a strong differentiator, even a weakness from other aspects.
A revelation I posted a couple weeks ago taking about the results of no-pool mining:
-Lack of pools means miners don't get a steady stream of income but rather must now devote time and must have a sense of belief in the coin that they will eventually find a block. This belief has been lacking for a year now since the emergence of mega-miners and pools. This sense of belief is also what leads to buying on exchanges as some miners either a) figure out that buying and holding makes more economic sense than mining and waiting, or b) lose patience with waiting to find a block.
-Dynamic masternodes will basically cause these same believers from above to do whatever it takes to continue holding a masternode. Mr. Spread has stumbled upon what could likely be a major feature for every Crypto going forward, including bitcoin. As Mr. Spread continues with innovations, Spread's believers will fight to continue holding their masternodes. Miners, who no longer have the patience to wait for blocks, will instead prefer to run masternodes to increase their SPR.
-Like bitcoin, eventually the believers and miners will increase so much and will become so vocal that merchants will have no choice but to accept Spreadcoin.