Given the price, I feel 10k collateral for mn is not too outrageous. Any idea if and when this will be occurring?
Thanks,
MRD
What is outrageous is not the amount of collateral, but if this choice is made outside the blockchain governance system (functions of voting integrated into the wallet, for those who do not know), what is outrageous is if the right to vote is denied to the true shareholders and owners of the voting power that is only and only the owners of the masternodes and the stakers. Everything else loses importance if such a serious action on the part of the team happens.
If you would know why the decision of increasing masternode collateral to such an amount was taken by the team initially and not through the masternode governing system, you would not ask that question. The decision was primarily taken to ensure the maximum security of Feirm blockchain.
Considering the current price of the coin, I do not see a big issue in it anyway. It is just the collateral that is getting increased, it is not a swap or fork that it must happen through a voting system. Also I think most community members are welcoming this change. It is not possible to please everyone, not even in pure democracy. Upto 49% people can stay unhappy following a democratic solution.