Quote from: cryptonit on September 12, 2016, 09:50:42 PM

Quote from: xProphet on September 12, 2016, 09:45:53 PM

I will post my opinion about FlyNodes. I really like the idea and sure it will make FLY price grow.
Buuut I still remember Vegasguy's saying "Help the little guy", it was in the old thread. To be honest, I don't know if such a rule is still in force, but in my opinion, FlyNodes WILL NOT help the little guy. "Little guys" won't receive anything while those who had a lot of coins before implementing this amazing feature will get even more. I will try to do some math.

One FlyNode costs 500 coins. Right now (12.09.16 23:10 UTC) on Yobit, 500 FLY at the sell side are worth about 0.34391704 BTC, I will round it to 0.34 BTC.
Now, I open random FlyCoin address from Block Explorer's richlist. I don't know who owns it. If we look on transactions associated with this address, we can see that this wallet does POS Mining. I didn't calculate a lot, but the average reward is 0.6~0.9 FLY, I will round it up to 1 FLY.
Masternode reward is 5% of the POS reward (I hope I understood it right, otherwise my math is wrong and not worth of further reading). 5% of 1 FLY is 0.05 FLY.
Now lets imagine that market is stable and the buy price is at least 55k sats.The minimum (without additional 200 FLYs) reward is going to be 2750 sats.
I opened the source code of GitHub to check out the maximum block time, it is 10 minutes.
So the minumum is (60 / 10) * 24 = 144 blocks per day. Lets assume that "when choosing the recepient of the masternode reward" everyone is equal, a guy with the bigger wallet won't have more chances. So, for example, there are 50 masternodes. Chance of me getting the reward is 1/50 (2%). Lets assume that the guy who owns that POS wallet sets up (6794 (wallet's current balance) \ 500) = 13 nodes + some chenage for an ice cream Cool

Let these 13 masternodes be a part of the total masternodes of the network, so the chance to get a reward is 13/50 (26%). With this probability, I imply that I'll receive 26% of the daily rewards (144 (min blocks/day) * 0.0000275 (price of the one reward) * 0.26 (chance)) = 0.0010296 BTC/day min. So, such amount of masternodes will be profitable after (0.34 * 13 (masternode price * masternode count) / 0.0010296 (BTC per day return)) about 330 days.

330 days even for the rich guy like whom wallet I used for doing math.
A poor, *cough* I mean "not so rich", guy like me who can't afford even 1 masternode at the current price will rely on POS rewards (for me, an estimated reward time is 450 days lol), but anyway the richier holders will receive a share of them.

I am *sure* that there IS a mistake in my math, so I'd be glad if someone corrects me.
Here is how I proved that the "lower class" will receive nothing but the rich people will benefit just more and more, however such process will be slow anyway.

not less is more
more is more

this new system would create one source of demand
and that is greed

can work

if that fit to the former message of the coin "Help the little guy" is a different story......

I do my best to balance the coin. The system itself will pay more to those that have risked the most. It also pays more to someone that has 3000 fly , than someone who has 700 fly. So I dont see that as an unfair system. I have strongly focused on helping the little guy, and that element will still be true. We once had a balance of 5500 fly in the superfly wallet. Its down to 2,000 fly. NONE of the top 5 received any of that. Therefore I have given away 3500 fly. That is when it was .80 usd and sometimes 1 dollar a coin. People have done many different things to get these rewards. So, this will still be true. I AM concerned that 500 fly might be too much, but when I really look at it , its only .34 btc. If even that seems out of reach , there are PLENTY of ways to get superfly rewards. So the core mission of fly has not changed. Anyone with no money at all CAN attain 500 fly in many ways. Use your imagination. Support fly, and I will help you.

Vegas