Re: [ANN] [RNS] Renos - A community Based Cryptocurrency

Masternodes

Just to confirm that the rumours of masternodes are true HOWEVER there is a slight catch currently. We have the technology developed and working but have issues syncing it with the current chain due to outdated code on the current codebase (an error on my part) We have people looking to fix it but if there has been no progress in the next week then we will most likely have to initiate a swap. Its something I really wanted to avoid but necessary in the long term as not only will it implement masternodes but a cleaner update friendly codebase. The initial specifications we have for masternodes are:

100K RNS per masternode
70/30 split in POS rewards.

I have been keeping it quiet partly because i wanted to surprise everyone with a shiny new update but i realised that the community has a right to know what is going on with the coin and now thats the implentation is delayed its not fair to keep everyone in the dark as it looks like we've been doing nothing for the last 2 weeks (which we haven't)

No one seems to care here... but what will the masternodes actually do? Nothing is written about that. Do you care to share some code that is written?

Masternodes give you higher rewards. That means that you will earn more than the normal POS rate and you help the network even more by being a masternode. Also more who hold masternodes, means less coins getting dumped, hence helping the value to rise also.

That would only increase centralization. I don't think it's a good idea to "just" create master nodes to let the coins sit in there, doing nothing. What's the use of such a masternode, except for people hoping the price will increase due to more amount of coins are locked in?

Masternode was made at the start to incentive coin holder to run a node to secure the network with increased reward (better than POS) versus letting coin sitting on exchange

I understand what it does, but creating a bigger reward for the rich isn't something that will be better for decentralization. On the contrary. It will only centralize more and more. It's like a normal guy getting 1% interest on his bank account, but Warren Buffet get's 10% interest on his account. How can that help in the world of crypto? I think it's a big no-no.

O M G
if warren buffett gets more money than the normal user, I would say, he was more dilligent than the normal user...

Greetz
Steve

You don't get the point. You guys are happy that there will be masternodes, but all that the masternodes do is make this coin more centralized. Masternodes are (compromizes) to help the network with certain jobs. If the job is only getting a higher share of the Proof of stake (POS) it's of no use at all. In fact, it's even bad thing.