Dash Core v0.16.0.1 Update ProgressMiners Source : http://178.254.23.111/~pub/Dash/Dash_Info.html (V16.0 Adoption) Note : this will be subject to constant fluctuations, but should improve when more mining pools update to our latest Dash Core v0.16.0.1 Goal currently is reaching 79.22% of the mined blocks signalling readiness for v0.16.0.1 after which two additional 7 days time windows start (one after the other) to both lock-in the blockreward allocation change and to activate it. Masternodes Source : https://www.dashninja.pl/deterministic-masternodes.htmlNote : Goal is reaching 80% of masternodes on v0.16.0.1 after which a time window of 7 days is given to those masternode operators that have not updated yet, to do so. After those 7 days, spork 21 will be activated and masternodes on older Dash Core versions will start to get PoSe scored and ultimately PoSe banned from the network.
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As i mentioned to you before, in my country cryptocurrency is treated like owning stock. Which means it is subject to property tax, not income tax.
We just calculate our total amount of cryptocurrency at a certain time (1st of Januari 00:00) and translate that to euro. That amount of Euro is then reported to the tax agency
and that amount will be taxed. Peace of cake.
That is fine for those few that live in countries like yours. Doesn't help the rest much It was not ment to help the rest, it was ment to remind toknormal that not all masternode operators have their crypto taxed as income and not all masternode operators need to file tax returns for their masternode earnings. Germany : only income tax if crypto is sold after being held less then a year. Otherwise it is treated as private money Source : https://tokentax.co/guides/crypto-taxes-in-germany/Note : this could encourage masternode operators to store their masternode rewards for at least a year, so it falls under private money. Specially in a bear market that would make sense. The Netherlands : property tax, the cost basis can only be carried back to January 1st of the given tax year, after which it resets Source : https://tokentax.co/guides/crypto-taxes-in-the-netherlands/#overview-of-dutch-crypto-taxationNote : the lower the price of Dash on 1st of January on each tax year, the lower the property tax Both Germany and The Netherlands have a large concentration of masternodes in Europe. Source : https://masternodes.online/currencies/DASH/ (see masternodes map) |
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That is great !! I always wanted Dash to be added to some tiny unnamed exchange !! Thank you. I assume they have unnamed users there as well ? Maybe you could even change the listed cryptocurrencies there to unnamed, that way you have an unnamed exchange with unnamed users trading unnamed cryptocurrencies. That would be super doopy cool. Interesting DOGE / BTC chart by the way. |
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You are worried about the feedback ... got it.
You'd also know it if you'd ever had to file a tax return for masternode earnings since it's recorded as income followed by a capital acquisition, where you're taxed on the full value of the income. That's where your cost base comes from - not the scarcity value established by competitive mining. As i mentioned to you before, in my country cryptocurrency is treated like owning stock. Which means it is subject to property tax, not income tax. We just calculate our total amount of cryptocurrency at a certain time (1st of Januari 00:00) and translate that to euro. That amount of Euro is then reported to the tax agency and that amount will be taxed. Peace of cake. There is no filing a tax return for masternodes earnings. Our tax agency is not even interested in what kind of cryptocurrency we have. They just want to know how much the cryptocurrency we have in total is worth in Euro at a certain time. There is no difference for the tax agency if people have a certain amount of Euro on a bank account or if people have a certain amount of cryptocurrency on a hardware wallet. Both are reported in euro and both are subject to the same property tax. And no, i will not stop calling your market theory a theory. Because that is exactly what it is, a personal and unproven theory with an abundance of decorative pictures. Thank you by the way for the reference link to where you discussed this before : https://www.dash.org/forum/threads/consensus-mechanisms.49135/page-2 Ryan Taylor does make a lot of sense. I guess this means you did make a purchase all these many years ago based on poor rationale. I certainly did not invest in Dash because it was suppose to be a 'high energy budget coin, with on-chain services that are competitive with other high energy budget coins'. I invested in Dash because of the masternode rewards and its schedule. Dash original masternode payment schedule (2014) : if(nHeight > 158000) ret += blockValue / 20; //25.0% - 2014-10-23
if(nHeight > 158000+((576*30)*1)) ret += blockValue / 20; //30.0% - 2014-11-23
if(nHeight > 158000+((576*30)*2)) ret += blockValue / 20; //35.0% - 2014-12-23
if(nHeight > 158000+((576*30)*3)) ret += blockValue / 40; //37.5% - 2015-01-23
if(nHeight > 158000+((576*30)*4)) ret += blockValue / 40; //40.0% - 2015-02-23
if(nHeight > 158000+((576*30)*5)) ret += blockValue / 40; //42.5% - 2015-03-23
if(nHeight > 158000+((576*30)*6)) ret += blockValue / 40; //45.0% - 2015-04-23
if(nHeight > 158000+((576*30)*7)) ret += blockValue / 40; //47.5% - 2015-05-23
if(nHeight > 158000+((576*30)*9)) ret += blockValue / 40; //50.0% - 2015-07-23
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; //52.5% - 2015-09-23
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; //55.0% - 2015-11-23
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; //57.5% - 2016-01-23
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; //60.0% - 2016-03-23 Scheduled to lead Dash to 60% of the blockrewards to masternodes and 40% of the blockrewards to miners in 2016. Ironic how we are coming full circle to this original masternode payment schedule again. Only at a much slower rate. |
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To toknormal : a perfect time for you to ask Ryan Taylor's opinion about your (unsupported) market theory.
No need to spread it here, when you can spread your (unsupported) market theory to a much wider Dash audience.
Unless you worry about the feedback you receive ?
That isn't who needs to be convinced. It's the community that needs to understand it. (The market already does). You are worried about the feedback ... got it. |
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Dash Core Group Q3 Quarterly Call - 29th of October 2020Link : https://www.dash.org/forum/threads/dash-core-group-q3-quarterly-call-29-10-2020.50832/#post-223868To toknormal : a perfect time for you to ask Ryan Taylor's opinion about your (unsupported) market theory.  No need to spread it here, when you can spread your (unsupported) market theory to a much wider Dash audience. Unless you worry about the feedback you receive ? To all : if you have questions for the Dash Core Group with regards to this Q3 Quarterly Call 2020, you can post them at the above mentioned link.
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All i can conclude is
Based on cherry picking just 2 other bad performers. I gave you a list of other 100% mined coins doing significantly better. You can ignore reality all you want. You can't ignore the consequences of ignoring reality. Or maybe in your case you can Just because other factors at play doesn't mean ignore the elephant in the room Those two bad PoW performers proof that competitive mining does not necessarily give better price performance. It basically shoots a really big hole in toknormal market theory. You can choose to ignore that and keep advocating the competitive mining approach, but it is already shot to pieces. Dash is now excepted in one of the supermarket chain in Venezuela. Even before this it was the most routine used cryptocurrency in the country. Judging what media says it beats even Bitcoin there. I noticed that Dash is the most widely used in countries where the economy is weak, probably because of extra pressure being put on society by the political regime. Any way if Dash help those poor citizens to survive then it's mission there can be considered completed.  Great news, thank you for the heads up. I do think Dash mission in Venezuela is still ongoing, but this does show that Dash has build a strong position in Venezuela as a fast, secure, decentralized, payment system. |
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What we can conclude is Dash is the worst of those three
Wrong approach.Why comparing with the worst  All i can conclude is that looking at Bitcoin Cash (one of our main competitors) and Zcash, competitive mining (PoW with 100% of blockrewards going to miners) does not necessarily give better price performance. Dash -95,6% Price Down from ATH Bitcoin Cash -93,8% Price Down from ATH Zcash -93,5% Price Down from ATH Source : messari.io Which means other factors are at play that influence price performance. Factors that have nothing to do with competitive mining. |
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You are a masternode operator yourself, enabling the system you so very publicly attack on this forum. I didn't "publicly attack" the system. I argued that the reward ratio was set in the wrong direction for optimal capital valuation of the chain. I also said that masternodes would gain from this since the capital value of their holdings makes generally more difference to their asset valuation than the reward margin measured in Dash. I seem to recall a certain someone wanting to fork Dash, while the blockreward reallocation discussion was still ongoing. I call that a public attack on Dash system. I also recall some pretty strong personal opinions from that certain someone, predicting all kinds of outragious doomsday scenerio's day in day out. I also see that as publicly attacking the system. A system you are part of as masternode operator since pretty much the start. Something you failed to mention in all those comments about 'free' coins and all the masternode negativity, until i confronted you with that after your 'lets fork Dash' post. I realise that masternode holders want holiday cruises, but f*k'm. Does that mean you will be f*k yourself, as you are a masternode holder also ?  |
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..and worst of all...
• they are bad for masternodes, since they have the most to lose form capital losses being the biggest capital holders
You are a masternode operator yourself, enabling the system you so very publicly attack on this forum. I am starting to wonder if you are not simpy trying to prevent the increase of masternodes, so it does not extend the time interval (making the period between masternode payments longer). That is the only reason why i can see you stay at a project this long (6 years), run masternodes, and still attack the very heart of this project (incentivized masternodes). It would explain why you post all this negative crap about masternodes, but stay invested in Dash. |
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Ok, maybe you're looking at this the wrong way. Do you at least concede that? Are you presenting fact or theory?
Here's something to think about...
1) The block reward is not given out until a block is mined.
2) No miners, no block reward.
3) The block reward currently is roughly 2.88 DASH.
4) The miner is able to stay in business even though they only receive roughly 1.44 DASH per block
Now, if they got 100% of the reward and the hashrate/cost remained the same wouldn't there be enormous pressure for the price to be cut in half?
After all if the miner is profitable enough to stay in business by selling 1.44 DASH, they could easily sell 2.88 DASH at 50% off and still be just as well off.
So, maybe this 50/50 split we currently have puts upward pressure on the price? And maybe that more than offsets the price that masternodes sell at since they don't sell it for $0...
The mining difficulty would adjust higher, making the scarcity /store of value attribute much stronger. Consider that in 100% proof of work coins they already have 100% of the reward. This idea is already tested and in action in real crypto market So why is it not working for Bitcoin Cash and Zcash then ? They have 100% proof of work with 100% of the reward and have the exact same negative price performance as Dash. Dash -95,6% Price Down from ATH Bitcoin Cash -93,8% Price Down from ATH Zcash -93,5% Price Down from ATH Source : messari.io What can we conclude from that ? Also i don't see how higher mining difficulty increase scarcity. With Dash the difficulty gets adjusted after each block thanks to Dash Dark Gravity Wave, which means the supply generation stays the same. There is no increased scarcity or increased store of value from an increase in mining difficulty. https://docs.dash.org/en/stable/introduction/features.html |
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You should have left Dash ages ago. You should have left this Dash ANN ages ago. You should have sold your masternode(s) ages ago.
Yet you did not. Your thoughts and opinions about Dash, seem to directly clash with your actions (to stay invested in Dash and keep your masternode(s) running).
From an investor point of view that looks very strange. Suspiciously strange.
There's nothing strange about it. I invested in a proof of work coin that inherited bitcoin's protocol and target market, but more versatile than bitcoin at the point of use. The arguments I've been promoting on here are far more consistent with that principle than yours have been. There's therefore a reason to stay invested because this coin has a governance mechanism and I believe that the community will eventually have to face the fact that the appraisal made last year regarding the economics of the protocol was faulty and that the conclusion drawn exactly the opposite of the correct one. i.e. it's the masternode margins we don't need and the hashrate we DO need. (Or at least its application to a majority of the coin supply needs to be restored). That is not what you stated earlier, let me quote what you said earlier : insanity of firewalling half the supply off from that hashrate and giving it away for free is becoming apparent to all. With half of the supply off i assume you mean our current blockreward allocation 50% masternodes / 50% miners (or to be precise the 45% / 45% / 10%), not the yet to be activated block reward reallocation change that leads to 60% / 40% (or to be precise 54% / 36% / 10%). If you are indeed referring to the 50% / 50% blockreward allocation, then i am not sure why you even started with Dash. Why stay so long with a coin that you think is 'insanely firewalling half the supply off from the hashrate and give it away from free' for 6 years already ? While that coin is showing no signs of taking an interest in your point of view ? Why not simply switch 6 years ago to a '100% mining competitive' coin with governance, if the whole thing bothered you so much ? Why setup your own masternode(s) for all those years and not participate in the governance system these last few years, even though you claim to be invested because of that governance mechanism ? Is it then just for collecting the masternode rewards these days ? Why setup masternodes for yourself in the first place, when you claim masternodes cause the 'insanity of firewalling half the supply off from that hashrate and giving it away for free' ? So many questions and so little answers. |
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it would not surprise me the least if Dash hashrate will simply continue printing new ATH's, even after the blockreward re-allocation change gets implemented. It wouldn't surprise me either which is why the insanity of firewalling half the supply off from that hashrate and giving it away for free is becoming apparent to all. If you really believe all that nonsense about 'the insanity of firewalling half the supply off from hashrate and giving it away for free', then you should not have invested in Dash in the first place. It was clearly mentioned in Dash emission rate schedule, how the blockreward allocation pans out for miners and masternodes over time. You should have left Dash ages ago. You should have left this Dash ANN ages ago. You should have sold your masternode(s) ages ago. Yet you did not. Your thoughts and opinions about Dash, seem to directly clash with your actions (to stay invested in Dash and keep your masternode(s) running). From an investor point of view that looks very strange. Suspiciously strange. |
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Please tell that to the store-of-value market, because it didn't realise it was actually investing in cheaply secured networks. It thought it was buying high scarcity coins emerging from expensive to mine blocks. It (specially the bitcoin market) could have saved itself a lot of time & money.
I tried to tell the store of-value market about Ethereum Classic (getting 51% attacked three times in a month and all), exposing a very cheaply secured network. It did not react at all  Luckily Dash has ChainLocks and it would not surprise me the least if Dash hashrate will simply continue printing new ATH's, even after the blockreward re-allocation change gets implemented. |
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Miners : invested in mining hardware and continue to pay electricity.
Masternodes : invested 1000 Dash directly into the chain and continue to pay server renting costs Again, very deceptive of you as always in deflecting the discussion away from where the problem is to where it isn't. Firstly, my previous post is concerned with the masternode reward, not the collateral. It's those rewards that arrive with a zero cost base. That leaves the market at liberty to price it as such. Secondly, the 1000 Dash is not "invested" in the chain. In fact it isn't invested anywhere - the owner continues to hold it and own it. An "investment" is where you swap one form of capital for another, for example when a miner "invests" $USD in raising the scarcity value of the next block and receives coin in return who's opening price is proportional to the hashrate they contributed to that cause. You can't look at masternode rewards without also looking at the masternode collateral, because without the masternode collateral you would not have any masternode rewards. Plain and simple. People swapping Euro / USD / FIAT for Dash to acquire their Dash collateral, pretty much makes them an investor. An investor that invests directly in the chain. Hashrate unfortunately has no direct relation to price, our constant new hashrate ATH's did not increase our price in any way. All what miners do is provide an abundance of security to our network and provide a lot of selling power on the crypto market. The abundance is unnecessary and is getting addressed through the blockreward re-allocation proposal, the selling power is hopefully compensated by making the masternodes more attractive to buy (improving Dash store of value), which seems to be working really well already, as the masternodes numbers just had a new ATH. Now it is just waiting until this retest of lows (in Dash case the retest of 0.0053) is concluded and the Altcoins market in general starts picking up again. |
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5000 masternodes pocketing capital from the chain versus large whales of various other crypto projects holding huge crypto investments on cold wallets or on exchanges and therefore pocketing capital from the chain.
No difference. Yes difference. Because the whales of other chains participated in a capital flow with the chain where they invested their money directly IN the chain to support the opening price of each block. When a Dash masternode reward coin is sold, on the other hand there is no such investment in the chain. Such old weak repetitive arguments of you. Masternode rewards do have an investment behind them, you just choose to ignore it and place no value to it. Good luck convincing people of that. Miners : invested in mining hardware and continue to pay electricity. Masternodes : invested 1000 Dash directly into the chain and continue to pay server renting costs This does make me wonder who is more likely to invest their money directly IN the chain : miners who buy their mining hardware equipment on the traditional market (for example https://mineshop.eu/), or Dash Masternode operators who are forced to buy 1000 Dash on the crypto market ? Difficult, difficult |
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