[ANN] SpreadCoin | Decentralize Everything (decentralized blockexplorer coming)

[Gladimor]

Posted to the BitCoin subreddit about data mining:

https://www.reddit.com/r/Bitcoin/comments/3y72sk/altcoin_developers_propose_proof_of_bitcoin_node/

[1715477751]

1715477751

[stonehedge]

I'm going to observe the market and may place an appropriate wall to make things less attractive for pump groups. I don't want this coin being undermined by a few people looking for a quick buck when there is a bunch of people working their asses off  to innovate.

Or should I just let things take their natural course? I guess it all evens out in the long run and if we get some increased exposure it may be for the best.

When the real demand comes your wall will look like a fart in hurricane.
Also let's get this listed on polo, that would give us loads of more exposure.
Here is the Poloniex Coin Request link, let's make it happen: https://poloniex.com/coinRequest

Good idea. When discussed before we decided not to dilute volume but I'm in favour of another exchange now.

[Gladimor]

I'm going to observe the market and may place an appropriate wall to make things less attractive for pump groups. I don't want this coin being undermined by a few people looking for a quick buck when there is a bunch of people working their asses off  to innovate.

Or should I just let things take their natural course? I guess it all evens out in the long run and if we get some increased exposure it may be for the best.

When the real demand comes your wall will look like a fart in hurricane.
Also let's get this listed on polo, that would give us loads of more exposure.
Here is the Poloniex Coin Request link, let's make it happen: https://poloniex.com/coinRequest

Good idea. When discussed before we decided not to dilute volume but I'm in favour of another exchange now.

Also, tweet to the Poloniex exchange, we'll have a higher chance of getting on if we have high social media activity.

[rendravolt]

SPR Big volume on trex 

[entropycoin]

When sprnodes were in testnet prior to mr. spreads departure with a much less innovative utilization plan, the price was hovering around 30000 satoshis.  I'm fairly convinced we'll see  retracement, I'll commence buying several servicenodes worth for the price of a burrito when we do.  I won't be selling selling any though, this project is far too interesting when compared to comparable in terms of market cap "coins." 

[johnnywoo2015]

Also, i don't like pump before the news and dump on the news (buy on rumor and sell on the news) it's awful.

As i said before, i don't like this situation, we're now at 6k price, it was obviously P&D.

[minerpage]

it was obviously P&D.

Since trading is anonymous, not much anybody can do about this. It will happen again, but shouldn't be a detriment for long term buyers.

SPR is more about innovation then price. Price spikes will come and go, the underlying Service Network will expand and grow as more people start to see the benefits and use it for what it was designed for: a Service Network that make an impact, not a speculative coin to make a quick buck.

After 8 months of development, some people are waiting for a price hike and sell at the first opportunity, other people will be buying long term. The SPR Team is dedicated to the long term strategy, that's where the innovation is. Look at where this coin will be in a month, 6 months from now, a year from now. It won't stay at 6k sat!

[rhinomonkey]

Also, i don't like pump before the news and dump on the news (buy on rumor and sell on the news) it's awful.

As i said before, i don't like this situation, we're now at 6k price, it was obviously P&D.

I think it may have been. But I don't think it was to get only Bitcoin. Someone wanted more SPR. They sold at the top and put buy orders back in at lower prices. If you look at the largest wallet address on trex now, you'll see that it has grown by 40k or so while other wallet addresses have remained virtually the same. Also some one is putting in 10k buy orders. I know there were sells at the top for exactly 10k as well. They probably sold groups of 10k SPR at say 100k satoshis and have redistributed those Bitcoin back into the buy orders. Keep watching the biggest address and you may see it climb even more as others dump their Spr for small change profits

[bhokor]

Spreadcoin is a great coin but i think speculation is doing some damage because some possible investor dont want to go abroad and get burned  by dumpers whales

[minerpage]

get burned  by dumpers whales

Speculation losses are short term, unless it destroys the coin. That's not the case here. If you knew for sure the coin would be at 200k sat next month, it wouldn't matter how much P&D went on before, you bought the coin at a low rate and you come out ahead. Just a matter of perspective. Stick with your purchase strategy long term and you'll come out ahead. But that's only my opinion 

[rhinomonkey]

Spreadcoin is a great coin but i think speculation is doing some damage because some possible investor dont want to go abroad and get burned  by dumpers whales

It is worth noting that before this rise in price, there was effectively no liquidity in the market. As I recall from my own attempts to purchase SPR, in order to get 2 bitcoin worth of SPR you would have pushed the market up to 5k (2-2.5X its heretofore price). I think we are more or less sitting at the price we should have been sitting at a few months ago. Prior to this, there were very few chances to buy in volume. People who had accumulation plans kept their buy orders small and let some of the miners slowly dump into their orders at really low prices. Even now I suspect people are waiting to purchase but unwilling to put in buy orders for fear of a show of a large amount of demand. Additionally, it would be really hard to dump substantial amounts below this price even if you were a whale with a lot of SPR

[coins101]

Improvements in the price is a function of success in project delivery.

The important questions that need to be dealt with should be whether the first service node utilization is the right strategy.

The current system where every user is a network node is not the intended configuration for large scale.  That would be like every Usenet user runs their own NNTP server.  The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate.

https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

There has always been a view, from Satoshi, that full nodes will be run on servers.  The question for us here is, 'should those node farms be centralized, or held on a decentralized service node network?'

From our point of view, decentralized full node farms should always win that argument. If that is the right view, then SPR becomes an essential component of Bitcoin's successful long-term large scale infrastructure. If that is the case, the long-term price of SPR will be reflected in its importance to BTC.

[rhinomonkey]

Are there currently any estimations on the amount of rewards node operators can receive per node operated?

[coins101]

Are there currently any estimations on the amount of rewards node operators can receive per node operated?

There is, but its over 6 months old. It needs a good update. I'll try and do it next week.  It was indicating a monthly profit of around $30 from running 10 nodes. But it all relates to price and other factors.

Spr nodes   Block Reward (SPR)   % of Block R for SN   SN reward (SPR)   SN payments (Per day)   SN reward (Per day/SPR)   SN reward (Per day/$)   SN reward (Per Month/$)      Number of nodes to run   Monthly Revenue      Cost / Node   Total Cost / month      Profit / month      SPR Bid collateral / node   SPR Collateral
                                                      
  1,000    5.8   30%   1.74   1.5     2.61      0.42      12.70       10   $127.0      $10.00   $100.00      $27.0      $160   $1,600
  1,000    5.8   30%   1.74   1.5     2.61      0.55      16.67       10   $166.7      $10.00   $100.00      $66.7      $210   $2,100
  1,000    5.8   30%   1.74   1.5     2.61      0.84      25.40       10   $254.0      $10.00   $100.00      $154.0      $320   $3,200
  1,000    5.8   30%   1.74   1.5     2.61      1.67      50.81       10   $508.1      $10.00   $100.00      $408.1      $640   $6,400
  1,000    5.8   30%   1.74   1.5     2.61      2.64      80.18       10   $801.8      $10.00   $100.00      $701.8      $1,010   $10,100

[rhinomonkey]

Are there currently any estimations on the amount of rewards node operators can receive per node operated?

There is, but its over 6 months old. It needs a good update. I'll try and do it next week.  It was indicating a monthly profit of around $30 from running 10 nodes. But it all relates to price and other factors.

Spr nodes   Block Reward (SPR)   % of Block R for SN   SN reward (SPR)   SN payments (Per day)   SN reward (Per day/SPR)   SN reward (Per day/$)   SN reward (Per Month/$)      Number of nodes to run   Monthly Revenue      Cost / Node   Total Cost / month      Profit / month      SPR Bid collateral / node   SPR Collateral
                                                      
  1,000    5.8   30%   1.74   1.5     2.61      0.42      12.70       10   $127.0      $10.00   $100.00      $27.0      $160   $1,600
  1,000    5.8   30%   1.74   1.5     2.61      0.55      16.67       10   $166.7      $10.00   $100.00      $66.7      $210   $2,100
  1,000    5.8   30%   1.74   1.5     2.61      0.84      25.40       10   $254.0      $10.00   $100.00      $154.0      $320   $3,200
  1,000    5.8   30%   1.74   1.5     2.61      1.67      50.81       10   $508.1      $10.00   $100.00      $408.1      $640   $6,400
  1,000    5.8   30%   1.74   1.5     2.61      2.64      80.18       10   $801.8      $10.00   $100.00      $701.8      $1,010   $10,100

Awesome, would love to see the updated specs. I remember now that SH had done the test trial of this a few months ago. Presumably, rewards would be higher with the data market revenues being fed back into the operators?

[coins101]

....Presumably, rewards would be higher with the data market revenues being fed back into the operators?

Running nodes in the early days is going to be about cashflow management.

Once you start a node that has super efficient specs, you'll immediately become important to the BTC network and there will be internal pressure to improve service capability (Georgem's plan for competitive nodes). That will likely mean node operators incurring monthly costs, so we'll need to work on coinbase incentives to ensure we pay node operators enough to cover costs and make a small return on investment.

The data market revenues are not going to be there on day one. So its important to focus on short-term revenues to cover monthly cash flows.  Once the data market is there, monthly costs from running nodes won't be an issue.  At that point, I personally will be hoping SPR will be considered an essential part of BTC and that prices will reflect accordingly making running full nodes very desirable, very profitable and very gratifying, compared to the current situation where full nodes are treated as a charity case:



http://www.ibtimes.co.uk/bitcoin-giant-btcc-donates-100-full-nodes-help-maintain-network-1534926

[coins101]

16nm miners must be in the wild. BTC hash rate just jumped, difficulty still has a few days to catch-up.  Someone is making some serious money at the moment.

[stonehedge]

16nm miners must be in the wild. BTC hash rate just jumped, difficulty still has a few days to catch-up.  Someone is making some serious money at the moment.

The secret miner inside of me is a bit jealous.

[rhinomonkey]

How easy will it be for current node operators to switch over to the service node network? It would make sense that even if this provided a slightly more financially attractive option, people would switch if it was not a large hassle. Barriers to making the switch could mean it takes more financial incentive to switch to running the node on the SPR SN. I'm not savvy with the process of running a BTC node so I'm curious what sort of steps a current operator would have to take to switch.

[Gladimor]

How easy will it be for current node operators to switch over to the service node network? It would make sense that even if this provided a slightly more financially attractive option, people would switch if it was not a large hassle. Barriers to making the switch could mean it takes more financial incentive to switch to running the node on the SPR SN. I'm not savvy with the process of running a BTC node so I'm curious what sort of steps a current operator would have to take to switch.

Not sure about the mechanics of a ServiceNode as it hasn't been released yet, so we wouldn't be able to gauge the complexity of the upgrade... but we'll be able to see in the next few days though!