Post
Topic
Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
eltito
on 30/05/2014, 15:41:41 UTC


The maximum number of newly minted DRK reduces by 7% per year, up to a projected maximum of 22M coins over a period of something like 50 years.  DRK also incentives removing coins from circulation through the setup of Masternodes, which require 1000RK to establish.  I suppose you could call that a kind of "soft" deflation.

Or a massive pump due to everyone trying to get masternodes which require 1000 DRK as the interest p.a on a masternode is some silly high rate. Its one of the cleverer pumps I'll give it that.

Interest p.a. will not be so "silly high" once the network is fully realized (i.e. 1000+ Masternodes).  And it's a self-correcting system anyway.  Too many Masternodes and it won't be worth the time or effort.  Too few and the potential for good returns will bring about more Masternodes, which will lower the returns, and so on.  Chances are that if the coin remains healthy, p.a. returns on Masternodes will be roughly equivalent to more traditional investments.


Quote
Add onto that the fact that the vast majority of masternodes are hosted on Amazon Web Services so nicely decentralized and out of prying hands  Roll Eyes

I'm fine with all alts but trying to add DRK on an established global exchange such as Bitfinex should be considered with great caution. I'm sure there are traders who wouldn't want to keep their funds with Fenix anymore as any crypto thats main feature is privacy and anonymity is going to come under the regulatory micrsoscope very quickly.

We are in agreement on the Amazon issue.  It has to do with the fact that a quick and dirty guide explaining how to set up a Masternode specifically on an EC2 instance was posted early on by a community member.  So, of course that's what everyone did.  There are plans in motion to create a far more robust guide that can be followed on any host, and I plan to initiate an organized effort to get people moved away from Amazon (and, if I have my way, US/EU based hosts in general).