Latest posts of: bertusvk

Hello guys, can answer help me? I want to know about block size, reward block for miners and do we have masternode, supernode or something else? thanks a lot Grin

Block size: Good question. From doing a search I found David mentioning that BitBay is similar to Bitcoin in blocksize - yet we have a 64 second block time

Reward blocks will soon be roughly 20.5 Bays per block. Hope to have that update corrected within the month. This amount auto adjusts as it's based on 1% of the total supply. So as supply increases so will the block reward in retrospect. 1,007,611,188 BAY currently in circulation with 64 second blocks at 1% APR = 20.4487 per block
Nothing is set in stone with the current APR of 1%. There has been discussion of creating a variable APR rate in conjunction with the rolling peg to further strengthen price stability.

We do not have Masternodes. We feel they have a tendency to centralized a coin. Coins that use masternodes to steer development are only going to look out for the 'masters' own best interests.
BitBay has the first user friendly decentralized voting consensus built into the wallet. This system allows for anyone with coins to vote - not just the elite rich. This provides opportunity for the "majority" to cast their voice on new innovations not just the elite 'masters' (sounds so cliche saying that in cryptoland).

Would it not be possible for us to keep voting for anyone that has coins but also implement masternodes to incentivise accumulation and saving?
I guess if we made it just 1M for a masternode that would not be too centralised. Also masternode has to be active for 1 month before initiating that higher rate of interest? 2 months before an even higher rate and so on to be decided.

I notice dash was not that effected in this last bloodbath and would have probably been even less so had it has the 1 month delay.

Perhaps we should put masternodes to the vote on our decentralised voting system?

To me they are just what we could need to stop churners give much more incentive to accumulate and hold.

I think masternode type systems do benefit quality projects.

CBX are introducing an interesting pos/masternode system. Just the word of it has increased prices 10x

If the community wants it then sure. Granted David's recent release has paved the way for him to focus on the remaining core features: CLTV UI which is pretty much near completion, the last 4 smart contract templates, API, and then the rolling peg.

At this point those take top priority as I see the rolling peg being the most influential feature that we can add and has the potential to turn these 'churners' into looking for a new job.

With the new donate stake reward feature the possibilities are endless.
We can setup similar to Monero and have a dedicated webpage that not only votes for what to be posted on it, but voters can even donate their stake reward to fund the innovations. This way there will never be any gridlock. Budgets can be made for each innovation and the first innovation that reaches that budget gets the funding in motion to complete.
There is no other coin in cryptoland that can do this.
BitBay will be one of the first coins to help prove to the world that POW is a flawed system that is destined to create nothing but a centralized atmosphere of greedy miners.

So I'm all for throwing a vote on anything. I will pass along to the webdev that we need to create a page dedicated to funding new innovations. However, for the sake of Davids sanity, the core build must be completed first. Then any innovation that the majority voice of community requests can become the next focal point to integrate

This is all new for me , and the point you are making about the pow systems, is one i aven't read before.. something to think about, but you could defenetly be right, sound very logical