Re: [ANN] [XDAG] Dagger - New Community-based Cryptocurrency

BTCWhat is the voting address?

Reduction Poll Address:

https://[Suspicious link removed]/forms/KUat1RskAdP0YjN73

You will see how the dev team ignore the community's poll. :-）

I don't believe the team will seriously consider the supply reduction. It's more like a cheating and help them to manipulate the price up. But they have to make an announcement anyway, sooner or later.

The poll was simply to gauge interest of what people want. Gauging interest like this is also quite hard because there are various ways of cheating the system.

Some ways which are considered:

Poll, 1 person 1 vote with open results on XDAG.io website.
PoW, the miners decide the result.
Captcha solving.
Tx voting.

The problem with the Google Forms poll is that it allows for multiple votes, which resulted in malicious attempts to skew the vote in one direction. The result is that a majority of the votes want as much reduction as possible to increase the profit as much as possible. This is why the polling system has to be reconsidered.

Something further to consider is that the poll was never said to be a final vote which determines the future of the coin. There has been a lot of criticism because of this which is unnecessary. There is no need to decide now, rather it is better to wait a little bit and let PoW decide. This is perhaps the best and most decentralized way of deciding.

With that said, there are some further improvements to the core in PR #88 on GitHub which is currently under review.

Thanks for you reply.
You said:

The problem with the Google Forms poll is that it allows for multiple votes, which resulted in malicious attempts to skew the vote in one direction. The result is that a majority of the votes want as much reduction as possible to increase the profit as much as possible. This is why the polling system has to be reconsidered.

Response: It is true that Google Forms poll has potential probability to allow for multiple votes. I understand your assumption and concerns, so let's vote again.

You said:
Something further to consider is that the poll was never said to be a final vote which determines the future of the coin. There has been a lot of criticism because of this which is unnecessary. There is no need to decide now, rather it is better to wait a little bit and let PoW decide. This is perhaps the best and most decentralized way of deciding.

Response: It's a little bit sophistical when we say "poll was never said to be a final vote which determines the future of the coin". Let's use PoW decide. I would like to know the approximate timeline for the re-voting which many community members would like to know either.

You said:
Some ways which are considered:

Poll, 1 person 1 vote with open results on XDAG.io website.
PoW, the miners decide the result.
Captcha solving.
Tx voting.

Response: I agree that the PoW is the consensus of XDAG. The future of XDAG needs to be determined by PoW consensus.

Thank you for your elaborate response as well.

As for a timeline, there is nothing decided just yet--hence why we are having this conversation right now.

Because the mainnet was launched January 5th, a 6 month halving could occur on June 5th or 6th.
Thus I believe that a PoW consensus would have to be reached at that time whether or not a reduction is plausible.

It's a kinda "mine-fast coins now, abd later we will reduce supply to make it harder". Consensuses cant be changed, just like that. Normally proposed amount is being held till the end of coin. So, I think it's not a good move. Maybe make some restriction for total supply (even tho I wouldnt), but not for mining rewards, and mining halving lol. That's not how trustless consensuses work.

Thanks for your comments. Actually, the XDAG consensus would never be changed if we are still complying the PoW consensus. The common consensus being used in cryptocurrenty world are PoW (Bitcoin), PoS (DASH, NEO) and dPos (EOS), etc. All these coins are following their own consensus. Please keep in mind that XDAG is a PoW coin and the consensus of XDAG is PoW consensus. Therefore, the reduction decision should be determined by the PoW consensus rather than any individual's preference. That's the right way and only way to archive the community consensus unless people wouldn't accept XDAG is a PoW coin.

If people don't think PoW is a fair way as a consensus, that being said they disagree the most important basis of bitcoin invented by Satoshi Nakamoto. PoW is the cornstone of the entire cryptocurrency world.