Quote from: Munti on March 31, 2017, 07:59:52 AM

Quote from: cryptohunter on March 30, 2017, 10:26:13 PM

Quote from: Munti on March 30, 2017, 08:08:04 PM

Quote from: cryptohunter on March 30, 2017, 07:07:39 PM

can we vote to change the pos reward entirely and have different rates of pos for

1 million holders

5 million holders

10 million holders

lets create more loyalty and reason to hold and stake.

Why do you want to do that? It would not be fair

Not sure why you think that. You buy and support bay more you get more %. It's like a savings account. You hold it for longer you get more %.

Everyone can buy in and hold at the same price. There was no unfair advantage for anyone to get easy coins.

The % simply is not high enough to encourage saving. Tiny upswing everyone want to dump and try buy back later for less.

Masternodes although unfair if set up on coins gained through advantage are a great way to encourage loyalty and saving.

You have this many coins in circ you need to encourage saving and holding until you have a large user base. Pivx is doing great because it encourages saving in chunks. You drop below 10000k coins you are dropping to a lower rate of income.

MUE just realised the same thing in the last months and my 30 sats coins are ~~3500~~ 4200 sats lately.

I know masternodes are a fad in crypto at the moment. But that does not mean they make sense. Why go through the trouble of making a decentralized currency, market, etc and then start partially centralzing with masternodes?

The functions of masternodes seems to me to mainly be a tool to jack up the price of coins that have no real world usage. That might work for a while, but the extra emission will counter that over time. So yea, there may be short term gains, but long term it's not such a good idea. BitBay does not go for short term solutions. We are in it for the long haul. Besides, you seem to forget that we have two things that will be much more effective than masternodes:

1.
Marked with double deposit escrow. It's still slow on the market atm, but it will pick up. And then you will see the effect of double deposit escrow on a coin. Consider this:
When someone posts a contract to the market for a $100 item, they also make a $100 worth of Bay deposit (if using recommended settings). What is the average time an item is posted before someone buys it? Some are sold imidiatly, and some are never sold. You pick your own numbers for this, but I'll suggest 10 days as an average now. That means that $100 item has locked up $100 worth of Bay for 10 days before it's even sold. Then you have the days it takes to ship the item. Again, pick your own numbers. domestic usually takes 2-5 days when I buy something on the internet, international 2-4 weeks. I'll pick 10 days as an average for this too. So that's another 10 days that sellers deposit is locked. Now add buyers $100 deposit from the moment the deal is made until he receives the item. That another $100 worth of bay locked for 10 days. + the $100 worth of Bay that he is paying for the item (if payment is in Bay) for 10 days. So a $100 deal locks up $100 worth of Bay for 20 days, + $200 worth of Bay for 10 days. If you sum it up and average it out on 1 day you get $4000 worth of Bay locked up for a $100 deal. That is a ratio of 1:40! Now imagine if we have an average daily turnover of $100k on our market (Sounds much atm, but nothing compared to ebay, craigs list etc). With an 1:40 ratio that would lock up 4 million dollars worth of Bay at any given moment on average. That is more than our entire marketcap atm!

2.
We will have pegging. This will regulate the supply to meet the demand. And it is a much more precise tool than masternodes.

To everyone in here:
If you want to help increase value of Bay, there is a very simple thing you can do:
Find some of your old stuff that you want to sell, and post it on the market. Markets have gravity, so with more contracts posted, more people will start to use it.

One of the best messages I have read. I hate this hype on the masternode !
Decentralization is the priority. Money is largely secondary.

kylro

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