Quote from: Propulsion on October 03, 2014, 01:13:34 AM

Quote from: nsimmons on October 03, 2014, 01:02:31 AM

I just read the thread on darkcoin talk. Here's a gem,

"What really needs to happen is have a centralized service like coinbase launch that allows people to store their darkcoins on it for a percentage of a MN. Lets call this website "MasternodeShares".

and another

"I agree, why not just get rid of "mining" altogether and have the MNs secure the network? "

So you guys want to centralize the network, and fuck the miners who got the coin this far, just to enrich the core group of node holders? If this is the current strategy it is no wonder the coin is tanking.

Forming a private cartel for your own self interest. I would dump my coins the second any of this shit was even entertained by Evan.

Thanks for quoting me. (the first part)

Here's my reasoning:

Not everyone has 1000 darkcoin to create a MN.
Not everyone knows or wants to learn how to run a MN.

If the issue is that there are too few MN's to be optimal, lowering the barrier by having a service offer shares for MN's is a good thing.

It increases the number of nodes on the network, earns interest for the share owners, and locks the coins away creating a deflation.

The risk is by having the actual centralization of the coins for the service but that would be no greater than Mintpal or even Cryptsy as it is now.

The benefits to it is that it doesn't lower the MN cost and attracts smaller fish into the economy. All in all, I think it's a good thing.

For the second quote, PoW should definitely remain in play IMO. The MN's already earn mining rewards, I see no reason to also have them receiving PoS rewards as well. [/list]

I've got no problem with mining collectives as you state, but removing pow, is completely ridiculous. Proof of work is the defining feature that separates crypto from fiat.