Whats GNSP ?
Ryan Taylor reckons masternode owners are hodlrs and its the miners that are dumping coins
General Network Service Provider ?
I think both miners and masternode owners are currently dumping coins :
Masternode owners are dumping their masternode rewards, but (most) keep their collateral intact.
Lately the number of active masternodes is on the decline, maybe some owners are also selling their collateral to survive this bear market ?
Masternode capitulation is still ongoing (as the decline is still occurring).
Link :
http://178.254.23.111/~pub/masternode_count.pngMiners are also dumping their miner rewards, to pay for their hardware or electricity.
Miners capitulation seems much less an issue though, looking at the hash ribbons indicator :
Link :
https://imgur.com/uhP0phAIt explains why Dash still has such high hashrate. The big miners pushed out the smaller miners some time ago and are with current price still making a profit or can hold out in current bear market much better.
That is why improving Dash store of value should be done (gradually) at the expense of miners, who are only getting more centralized over time
(currently a few mining pools already hold the majority of Dash hashing power) and who keep hitting ATH's with their hashing power.
Dash Network Hashing Power :
https://bitinfocharts.com/comparison/dash-hashrate.htmlDash Miners Concentration :
https://chainz.cryptoid.info/dash/#!extraction
I am surprised some people apparently feel a need to defend or feel a need to actually strengthen the role of Dash miners, when those same miners are already operating at ATH level and are
showing dangerous signs of centralization.
Possible solutions to improve Dash store of value : *
Masternode Shares : we decentralize and further incentivize our masternode network, while taking some power away from miners (making them less of a centralized factor for Dash in the future).
Dash will still have PoW, but it will be a diminished PoW.
*
Deterministic Holders Lists : We focus more on providing a staking option for regular users, while taking some power away from miners (making them less of a centralized factor for Dash in the future).
Dash will still have PoW, but it will be a diminished PoW.
*
Going with some kind of ChainLocks / BLS Proof of Stake without any miners on our network : this is currently not possible as BLS signatures can fail during stress / updating and therefore need a backup solution
(one we don't have).