The community reached out to us, that Miners should receive less in order to stabilize the Price and Network which is lead by Dumping Miners right now. After this we decided to double the Masternode Rewards and take the Developers Fee from the Mining stake. Update this week.
could you expand on this more? also there is no vote?
is the mining reward going to be halved + dev fee from mining in order to double the masternode rewards?
what reasoning is there for masternode operators to not dump their rewarded coins?
I think that if staking was introduced now it would give miners incentive to hold their coins and accumulate for masternodes instead of dumping because they would be rewarded along the way.
full disclosure i am a miner, however i havent dumped any coins and im not sure what miners would at this point (coin value is too low) so i dont think its that driving the price down. if i were to mine coins just to dump for max profit and not speculate for long term gains, i wouldnt be mining alqo.
The reason for mn owners not to dump their coins is the reward they get for providing their mn - simple as that. As a miner you normally have the profit/loss ration in mind when mining (meaning: investment vs. output). So if you would be interested in SHORT TERM profits it would make no sense to run a mn. The miner on the other hand can sell anytime he's in the green.
On another topic: what's up with the three stage update? There will be another ANN, when it is rolled out, right?
thats kind of what i was getting at with the masternode profits, theyre still profits that can be sold off (not talking about the 10,000 xlq required to hold the node). in this case theyre just moving reward from one userbase to the other, miners to masternode holders. profits are profits whether theyre earned from mining or a masternode and could be dumped just the same.
This is why i suggested that if staking was implemented sooner it would give miners an incentive to hold onto the coins they have mined.
not to mention at the current price i dont think miners alone can be blamed for the continuing decline, i cant imagine anyone would mine XLQ to sell at these prices (im hodling what ive mined over the past few months).
im not saying their decision to increase MN rewards and reduce miner reward is right or wrong. just opening discussion on why this change might not have the outcome they intended and trying to figure out how this will affect things long term.
also why wasnt this decision put to a vote?
that makes absolutely no sense. if an individual has enough to run a masternode, he or she has no incentive to hold on to his rewards unless he is trying to save up for another masternode and even in that situation, if someone wants another masternode, they more than likely to buy the bulk of their coin of the market cos waiting to save up for another masternode strictly of MN rewards will take a really long time. So if anything a Mn owner is more inclined to sell cos they not taking any loss if they already have their MN. It's all gain, while a miner has to take account of the current spending to make sure they earning a profit and if BTC prices keep falling and the market continues on the downtrend with time their profit will be heavily affected to where they not so inclined to sell while a MN owner has little to no cost. Just the cost of maintainin the VPN if they are using one.