This is a great point, especially when you consider that in some parts of the world, people have had their bank accounts closed for being involved in trading cryptocurrencies. To be fair though, if you really wanted Darkcoins, you could receive some in exchange for goods or services without going through the exchanges.

I wouldn't worry semaj, you are witnessing a hypothetical debate.  Don't let it wind you up.

As a masternode owner I am against increasing masternode payouts unless something is done to improve mining conditions for the miners.

Don't forget that masternodes have recently been running at a loss too despite our 20% slice of the pie.  This is probably now solved but still, we aren't raking it in at the miners expense.

Satoshis principles of how a blockchain is secured and validated. You just want to let the validation be done by an elitist club of early adopters, instead of giving EVERYBODY a chance of participating in the coin creation. That's what I don't get.

Mining gives everybody the possibility to get to some DRK without the need to go thru an exchange or thru some smug MN holder who thinks he is now supposed to be the sole source of DRK.

I am mining all kinds of coins, so I don't need to go thru the whole established banking system with all their KYC etc...
No bank anywhere has my personal information and knows that I bought cryptocurrencies, EXACTLY because I was able to get to some coins by running a mining machine!

So, if you get rid of mining, you take away from people the possibility that they can create coins themselves, instead you are forcing them to only be able to buy darkcoins thru an exchange, which is INSANE!

Darkcoin is VERY COOL in that regard, because it let's you still mine with your CPU/GPU. (And imagine in the future having X11 USB ASICS that cost 10 $? Isn't that fantastic? Giving some kid a X11 miner as present and having him participate in the network. Ok, maybe in some rich elitist famility they can give some kid 1000 DRK complete with managed server, .... )

If the blockchain were to be validated by MN network only, I would not trust it. Sure, everybody can provide a blockchain, it's not just about its visibility, it's about its integrity!

You have the burden of the proof to show that MN network can really replace mining. Not me!
Such extraordinairy claims require extraordinairy evidence.

No I meant the period between RC4 and RC5.

There was a known issue causing some masternodes to repeatedly get paid thus causing a shift in distribution of payments. 

If you were a masternode owner with one or two masternodes on micro instances it was entirely possible to not be paid for weeks or months at a time. Therefore income was less than cost.

During that period I had 7 masternodes running.  Whilst two of my masternodes had amazing runs of 10+ payments a day the overall average across the 7 over a one month period was 0.22DRK per day.  This covered my server costs.

If you only had one or two masternodes, it was entirely possible to run at a loss.

EDIT:  Forget about variance.  That is how it was supposed to work (and how it is working now).  Variance was broken for RC4.

Don't forget that masternodes have recently been running at a loss too despite our 20% slice of the pie.  This is probably now solved but still, we aren't raking it in at the miners expense.

Concerning the argument about not being able to mine a crypto resulting in people losing interest... what do you think a noob can wrap his head around more easily.. piecing together a mining farm or purchasing a simple 10 drk and entering his key into a forum/website.

Concerning attracting new people to crypto, the instant and anonymous transactions aspects are useful enough in themselves.

Concerning rigs not mining drk, if the masternode network generates blocks, there is no use for mining.

If Evan created a redundancy of block generation by MNs, it wouldnt have to be activated immediately. We could see that it worked, while increasing MN payment ratio by 5% a month as he proposed. As mining became less profitable, the onus of supporting the network would gently shift toward the the MNs.

... CPU ... There's always a chance I'll solve a block.

Correct but you don't need a cpu miner to cpu mine.  Thats what we're trying to say.  It is already built in to QT

$ darkcoind getmininginfo
{
    "blocks" : 146014,
    "currentblocksize" : 1375,
    "currentblocktx" : 1,
    "difficulty" : 3239.03718077,
    "errors" : "",
    "generate" : true,
    "genproclimit" : -1,
    "hashespersec" : 16990,
    "networkhashps" : 75279401580,
    "pooledtx" : 4,
    "testnet" : false
}
 

I repeat...the ability to solo CPU mine has always been included from before the days this project forked from litecoin and it does not/will not trigger any AV alerts.  Unless of course you're downloading a dodgy copy of the QT

I got it on AVG Free as well

most miners get a false positive virus detection at virustotal.com

We should not stress the official wallet with that! wallet needs to be 100% clean

I will confirm that our group has been successful in creating an X11 FPGA miner.  We are currently discussing selling these miners or keeping them private.  If we decide to sell we will make a post in the mining thread.  

x11fpgamininggroup

For a while running a masternode wasn't all that it was supposed to be.  It was possible (indeed likely) that you could run at a loss.  Now that RC5 has seemingly fixed the voting issues and we are getting closer to enforcement things are looking much cheerier for the masternode owners.  

On the basis that power costs in huge swathes of the world prevent viable mining I'd love to see some focus turned towards the miners who are subsidising the services that the masternodes provide.

I wouldn't worry about idle speculation.  If anything I get the feeling that the popular consensus is that the masternodes and the miners need each other just as much.

I'm going to rudely butt in here and say that I think this discussion is very important for Darkcoin right now.

I am a masternode owner.  I therefore pay to have servers that perform a service at a cost to me.   To pay for that cost, I occasionally get 20% of a mined block. Now that we have RC5, my masternodes cover costs and make a small profit. Right now, electricity prices are so high in most places in the world that mining is becoming a decreasingly viable venture.  We need miners to mine (the more the better!), the network needs masternode (the more the better!).  If we can make mining more profitable by refining the algo for the miners then it is a win win situation.

Well, one hypothetical situation is that all nodes (not just masternodes) CPU mine with their idle cycles. 

*********** Amber Alert **************

Interesting morning coming up for Darkcoin as Mr Draghi is getting ready to talk and he's running out of ammo to combat Euro deflation.

Remember folks - it's no longer factories that make economies work, it's central banks. The numbers is all that matters and in that respect, Fiat's pain is crypto's gain.

The EU Mediterranean countries' GDP's want to relax themselves back to 2006 levels but Mr Draghi CANNOT LET THAT HAPPEN because that would send their Debt to GDP ratios into orbit and herald the return of the fabled ESDC (European Sovereign Debt Crisis). Interest rates are at an all time low so only bazooka left in the armoury is, you guessed it, the bankers all time favourite - Euro QE !!

Japan did it, the US did it so why cant we ? Lets crank up the presses and bury ourselves in overlevered guvpaper. Only problem is, who is not going to like that solution too much ? The Germans. They are not too keen on overlevered guvpaper even though it may provide a temporary boost for the wheelbarrow sector.

The German central bank is still owed the best part of half a trillion euros from the rest of the Eurozone via imbalances in the target2 system. They also do a good deal of trade with Europe's new pet bad boy - Mr Putin and his Chinese partners in "crime", not to say the import of quite some oil and gas quantities from said same "evil" vendor.

We might find that particular medicine needing a couple heapfulls more sugar to go down than it did when the Bernank administered it. All the same, the PTB know it's going to take more than Julie Andrews which is why they quietly wrote a handy "bailin" clause into the Mastericht treaty in case things get tricky (which they are about to get).

Why does Darkcoin fit into all this ?

Because we are a clam living on a whale's back and that whale is Bitcoin swimming in a Fiat ocean. Except this whale is an amphibian and upon the Ocean's demise it will simply grow a pair of legs and carry on as normal while all around it flounders.

Action starts in about half an hour.







http://armstrongeconomics.com/2013/10/14/european-banking-crisis-seizing-10-of-everyones-accounts-hello-cyprus/