Will there be a bounty campaign?
You will be able to suggest a project work package, cost it, give some deliverables, some KPIs so your work can be judged and ask for a distribution from the project to pay you to do the work. Others should also be able to compete with you. Thinking about this, we'll probably also now ask that you show you have some connection with Helium, like you are part of the network. The threshold for that should be something but not prohibitive - a token gesture, as it were. |
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..What if there were a limited amount of masternodes (dynamically increasing with the coin supply, maybe), but they only get paid according to their collateral. So someone who has 50x 100 hlm masternodes gets paid the same as someone with 1x 5000 hlm masternode. This means that there will probably be enough spots for a lot of people.
They would all get paid randomly... ah damn, I forgot about sybil attacks. We should have a lower limit for the collateral, I guess, and this idea could still work.
Does anyone think it is a good idea?
Fixed numbers is an interesting idea. But what problem are we trying to solve? Incentives to invest or capacity to efficiently process? If we want the network to be used by tens of millions of users, then a limited number of masternodes means the network will potentially show signs of network lag due to an increasing user base being put onto a fixed number of servers. You wouldn't notice any problems for a few years, but then users would start to experience a lag in the service. Each server would have the ability to scale up in terms of storage space, but then you need to take account of processing capabilities and bandwidth. If we introduce a way to use up the coin supply in too few servers, users will experience problems and go elsewhere. This isn't so much about numbers of transactions per second. We'll need to scale to a huge number of those. This is about a system that introduces a thin client for running wallets online without having to download a client. |
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I still like (at least initially) a dynamic model tied to price. So that people aren't annoyed with constantly updating the collateral tied to a node, it could fluctuate quarterly, or even less frequently. But I think the goal should be to constantly provide a yield of at least a 2x the operational costs.
I like the concept of this but it would be a bitch to code in such a way that people didn't have to rebuild their masternodes every time the collateral requirement changed. I have no objection with going for 1,000 HLM from the start. There should be no in embarrassment in using Dash code as long as the plan is to use it as a foundation to build on and I don't think having the same 1000 Coin requirement is going to make HLM look like a simple clone. Especially over the long term. You could code it so it recognizes any integer greater than the minimum collateral requirement. Let's say the minimum requirement is 1000. After some initial hype, the marketcap retraces a bit to the point that 1000 is no longer profitable and the min requirement is temporarily changed to 1500. Person a has 1000 tied to a node, person b 2000. Person b was incentiveized to add more hlm to a node so they can take the Ron propiel set it and forget it approach. Person a has to monitor their node more closely and have a bit of hlm on standby (can't necessarily dump node profit into market). Both with a node win, because it'll always be profitable. I'm mostly interested in this for the dynamics it would create and the fact that as much as hlm rose in value it would likely never be unobtainable for the vast majority of those interested in setting up a node and least not for long unless insanely costly vps requirements become a necessity. I like the idea of variable rewards. We'll see if we can put it on the road map for 2018/19 after we've done some specs and worked through the economic model. One of the aspects of ServiceNodes is that they will, over the long-term, pay for MasterNodes, development and other network costs (for those not familiar with the background as to why we have two types of layer 2 nodes). As the coinbase rewards diminish, the payments to masternodes and miners will come under the spotlight. You either put up fees, or you find an alternative source of income, so you have new money and fees. However, when you need to rely on services fees, they can be variable, so we will in time need to adapt to a quarter-by-quarter review of reward distributions to the network. If we're successful, people will deposit collateral to earn money on a relatively consistent rate of return - like a savings account. Any extra, we might be able to send to miners. Services income and low fees to sustain the network - this is a unique difference that DASH has not addressed. |
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Are you going to do another guessing contest on when block 1300000 is going to be?
-pickle
I think he mentioned in the riot chat that he will, although I am not sure We should do another competition. I was waiting to see what information is available from the devs on the details of the hard fork. A new client keeps popping up on the network and it's not clear if this client is part of the hard fork or the reason for it. Having looked at github it seems like the next hard fork is needed only to change the calculations for staking. So it's a pretty straightforward hard fork and I think everyone is already running the correct version. I don't think anyone has to do anything. Perhaps backup just in case. So let's start the competition to make everyone aware that there is a hard fork in about early March, block 1,300,000 200 VTR to nearest guess 100 VTR to second place 50 VTR to third place 100 VTR to most entertaining guess even if totally wrong. Award is totally at my discretion. One guess per day. Keep guessing, but only guesses 24hrs before the hard fork will be considered. bump for 8space |
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Karmashark raised a good point about collateral requirements. Lets open up a discussion on masternode collateral. Here are some options:  We do need to seek views as people will have opinions on affordability of masternodes and distribution around early investors. We will have some limits as to what we can do to please everyone, but lets give it a go. From my perspective, 10,000 HLM generates too few servers. We'll be looking to run millions of user accounts so we have to take into account the numbers of severs we can run on the network to spread and carry the load. We also need to take into account 5%-20% of nodes going down at any one point due to DDoS attacks; day to day redundancy; and network performance as experienced by users. 250 HLM is towards the range we're interested in, but we won't need that level of capacity for a decade or more, so it creates a sybil risk until the price of HLM rises. 800 HLM to 1,250 HLM for collateral is the range that gives a good compromise between economic barrier to sybil attacks and providing sufficient room for supporting ordinary payments users on the network. Then we need to factor the current and near future coin supply. This has an impact on the choices we make now and in the near future.  We can change the rules down the road, but that would disrupt business as usual for everyone running masternodes. Running a 24/7 payments network for tens of millions of users means we'll have to look at migrate+upgrade (really hard) vs upgrade only if we ever need to switch the protocol while trying to meet end user SLAs. We will have 2 or 3 hard forks between launch and the end of 2018. We won't be anywhere near capacity by the end of 2018, so we can come back to this issue in 2018 when we start planning for something that will last for 10-20 years in terms of the collateral vs. server capacity. |
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Fork looks like it will happen around 7pm on 21 March.
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Thanks whoever bought those. We'll be making some announcements about the launch process soon enough, once I get permissions from a few contributors to the project to put them in the OP. |
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OP has been updated with details of the second SPR explorer to provide two places for cross checking block heights for the cut-off. We do not control them, but we have paid for the second one, which will have it's premium status open for about 9 months before it reverts back to basic status. This can be extended. http://cryptoguru.tk/RichList/index.php?Currency=SPRWe will also host the HELIUM explorer in the same places to validate and cross check the swaps. |
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@dev Over the coming months we are going to be building a hardware wallet interface for Helium. This will use a usb with a standard bank grade encryption to generate keys. So users can let VTR client or USB wallet generate keys. http://www.microchip.com/wwwproducts/en/ATAES132AIf you want to work on that together so it can go into VTR, PM. It will work really great with 2FA as a validation check on the USB so even if you lost that, it doesn't matter. Let me just clarify that, too.  When you download you, sometimes you don't really know what you're downloading. When I downloaded Bitcoin core 0.14.0, it flags as malware, but only when you run the installer. If you download a malicious file, it could corrupt the wallet. Having a HD back-up means you can recompile your wallet elsewhere, which is great. If you need to unlock your wallet at anytime, having some of those funds on a second hardware wallet device means you have another option so you can split funds and always be protected, even for a split second. |
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@dev Over the coming months we are going to be building a hardware wallet interface for Helium. This will use a usb with a standard bank grade encryption to generate keys. So users can let VTR client or USB wallet generate keys. http://www.microchip.com/wwwproducts/en/ATAES132AIf you want to work on that together so it can go into VTR, PM. It will work really great with 2FA as a validation check on the USB so even if you lost that, it doesn't matter. |
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Back in 2015 I made the argument that projects like vTorrent would effectively kill illegal torrent sites. If crypto projects such as VTR and TPB can show a way to integrate some of the above and perhaps even more, into a wallet, then we will truly have something groundbreaking: P2P was first labelled as a disaster for digital rights owners. What if P2P crypto actually showed rights owners a way to use the medium to make their distribution far more efficient and in so doing switch free seeders into its partner network? https://bitcointalk.org/index.php?topic=932096.msg10231367#msg10231367Kodi seems to be doing a pretty good job of that, by allowing people to watch what they want using the bandwidth of the torrent sites. Torrent sites get all the costs but none of the users to click on their advertisers messages, so they just lose money now. So Kodi is basically a cannibal. At some point there won't be any illegal content to steal. vTorrent can help speed up the process. Why would people offer free stuff if others are making money selling access and giving royalties to the rights holders? Once this model is established, we'll probably see hundreds of vTorrent copycats but VTR will be the original. This is good on a number of fronts from getting investors some serious rewards, but also pushing rights holders down the path of global releases all done at the same time using pay for play torrents. Coinmarketcap will probably have 20-30 torrent projects. vTorrent should be in the top 5 coins when that reality starts to take shape. Private trackers will probably still survive as they are mostly done for friendship and community reasons. It's the masses who will switch how they consume torrent media. |
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...
So I am a newbie to staking. Should I be staking with my coins in my wallet?
So you are saying 5% more coins per year if staking.
Will I only get a reward if I keep it open 24/7/365?
I think this code saying if you are staking 200 days a year you will get 200/365 * 5% reward? So in this case it would be like 2.74%
Thanks
See the video link for keeping your wallet open, but secured for staking https://bitcointalk.org/index.php?topic=932096.msg10231367#msg10231367The wallet will work out how many coins to stake. You don't need to do anything other than unlock your wallet, but keep it protected with 2FA. |
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Interesting doing some background research on patents in the mobile payments space. Found this site which has some interesting features on Apple patents http://www.patentlyapple.com |
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Does anybody know how I can grab the BTC or USD price of VTR for Google scripts or javacript? For instance I can do it with my other altcoins listed on poloniex as follows for DECRED: function getDCRtoBTCpoloniex()
//Works
{
var url = "https://poloniex.com/public?command=returnTicker";
var response = UrlFetchApp.fetch(url);
var test = response.getContentText();
var myjson = JSON.parse(test);
//var leng = myjson.data.length;
var BTC_DCR = myjson["BTC_DCR"];
var price = BTC_DCR.last;
return parseFloat(price);
} Try the coinmarketcap API, https://coinmarketcap.com/api/but they get their prices from the trex https://bittrex.com/Market/Index?MarketName=BTC-VTR |
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you obviously know something few people do.
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Hard fork now looking like March 20, 12am
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