Post
Topic
Board Announcements (Altcoins)
Re: [PHR] Phore - 100% PoS 3.0 - Masternodes - Zerocoin - Governance No ICO/Premine
by
Wigi
on 18/12/2017, 11:06:52 UTC
This project looks really promising. But I have few questions. How important those masternodes are for the network? I feel that 10k phore might be to high price for masternode. Right now it works perfectly, but if this hits mainstream and coin cap rises to 1-3B. Then those masternodes are worth millions. This could be huge problem. First most average joes probably start to sell their masternodes. Million would be life changing for most people and keeping that amount in one coin might feel too risky. Also there are hackers and other problems that might make people to sell. Secondly new masternodes would be way too expensive to buy, so no new masternodes, unless price dumps a lot.

My other concern is that high masternode price could also make a price cap to this coin. Like even if the coin rises to 10$ (that would be 100k masternode) It might already make snowball effect where most master nodes would melt to the market. dumpin coin back down. If you did buy masternode for 5k then 100k might feel really tempting. Also low masternode count could start to centralize the network which could be a problem.

I feel this is my only big concern about this coin.. Low coin supply and high masternode price could lead only handful of masternodes in long run. Which I feel could be bad for privacy coin?