[ANN][DCR] Decred - Community Governance | Bitcoin Devs | Lightning Network

[Lukas_Jackson]

The premine consists of 8% of the total supply of 21 million coins, meaning the premine consists of 1.68 million coins. Rather than allocating the entire premine to the bring-up costs, we decided to split the premine equally between compensation for bring-up and an "airdrop", where we freely give an equal amount of coins to a number of airdrop participants. This means Company 0 and its developers will have put roughly USD 415,000 into the bring-up since April, 2014 and receive 4% of the total supply, 840,000 coins (at USD 0.49 per coin). The remaining 4% will be spread evenly across a list of airdrop participants as part of an effort to build the Decred network and decentralize its distribution.  Coins held by Company 0 will be used to fund its ongoing work on open-source projects, such as Decred and btcsuite.

Premine? Really? And 4% goes to one company straight away for free.

Decred is an open, progressive, and self-funding cryptocurrency with a system of community-based governance integrated into its blockchain. At its core is a hybridized proof-of-work proof-of-stake (PoW/PoS) consensus system that aims to strike a balance between PoW miners and PoS voters to create a more robust notion of consensus.

...

• Novel hybridized proof-of-work/proof-of-stake (PoW/PoS) consensus system - A decentralized lottery is used to select PoS miners to vote on PoW blocks. The PoW and PoS subsidies account for 60% and 30% of each total block subsidy, respectively.
  
  • Cold staking and decentralized stake pooling - The ability to generate new coins without the risk of having your coins online when PoS mining. The PoS mining system has also been engineered with distributed, decentralized stake pooling in mind, so that even those with small amounts of stake can participate in network validation.
  • Internal voting system for the addition of new features and hard or soft fork selection - Both PoW and PoS miners can vote for features and issues through bit flags, providing a sensible mechanism for resolving disputes about the features of the blockchain.
  • Compatibility with Bitcoin transaction scripting system - Decred's scripting system has been derived from Bitcoin's with care in ensuring that all future updates to the Bitcoin transaction script will be easily extensible to Decred. Further, any newly created functionalities will also be devised with backwards compatibility with Bitcoin in mind.
  • Self-funded development via block subsidy -  In order to have an ongoing source of funding for development work, a consensus rule has been added to allocate 10% of each block subsidy to a development organization. This entity is transparent and responsible for funding development work performed by current and new developers so that the project remains sustainable without a funding dependence on outside forces in the future. Decred therefore improves with growth in a sustainable way and is accountable only to its users.
  
  ...
  
  Project Governance and Development
  
  In addition to the technical features that make up the technology, Decred as a project introduces several development and governance features and proposals to ensure and steer long-term growth. We encourage participants to discuss these topics earnestly, as we want to ensure the system of development and governance is built on a solid foundation.
  
  
  • A multi-stakeholder development ecosystem that welcomes and empowers participants who want to build new functionality and improve on existing features.
  • Any party can submit feature proposals and developers are paid for work to fulfill requirements. This is done in full view of the community in a system designed to fight against ingroup-outgroup dynamics.
  • A proposal for a layered form of transparent meritocratic governance that extends beyond proof-of-work and proof-of-stake mechanisms to bring forward and represent insider and outsider voices in the community.
  • A proposal for bottom-up decision-making through the Decred Assembly, an evolving and inclusive list of community members who make non-financial contributions to the project through their work and effort.
  • The project is bound by the Decred Constitution on the core principles of finite issuance, privacy, security, fungibility, inclusivity, and progressive development of the technology that keeps these principles together.

Sounds like Dash.
I'm interested.

[iCEBREAKER]

Premine? Really? And 4% goes to one company straight away for free.

That 4% isn't given "for free."  It's an attempt to put the risk on devs, while giving them a chance to earn back/profit from what they already put into the project.

Developing and launching a project like this isn't cheap, and this is the most fair way to deal with that fact they could think of.

Can you do better?  Great.

It's not like they launched the dCred like Evan launched Dash, IE by surprise and with a broken emission system that granted them 20% off all the coins, then made it worse by lowering the maximum number of coins.

[Lukas_Jackson]

So I guess we don't need this.

Project Governance and Development

In addition to the technical features that make up the technology, Decred as a project introduces several development and governance features and proposals to ensure and steer long-term growth. We encourage participants to discuss these topics earnestly, as we want to ensure the system of development and governance is built on a solid foundation.

A multi-stakeholder development ecosystem that welcomes and empowers participants who want to build new functionality and improve on existing features.
Any party can submit feature proposals and developers are paid for work to fulfill requirements. This is done in full view of the community in a system designed to fight against ingroup-outgroup dynamics.

[indiemax]

So I guess we don't need this.

Project Governance and Development

In addition to the technical features that make up the technology, Decred as a project introduces several development and governance features and proposals to ensure and steer long-term growth. We encourage participants to discuss these topics earnestly, as we want to ensure the system of development and governance is built on a solid foundation.

A multi-stakeholder development ecosystem that welcomes and empowers participants who want to build new functionality and improve on existing features.
Any party can submit feature proposals and developers are paid for work to fulfill requirements. This is done in full view of the community in a system designed to fight against ingroup-outgroup dynamics.

Sure we do,please set out your proposals

[Lukas_Jackson]

Sure we do,please set out your proposals

Don't get me wrong. Wouldn't be better to hire devs? Or pay them for taking the risk later. Decred proudly announce Governance and voting from the start.
Why not use it in proper way? That would be the best and fair way.
And please, don't let icebreaker to endorse Decred.

[aleix]

And please, don't let icebreaker to endorse Decred.

I Agree.

Icebreaker is a despicable human being. He is a professional liar and troller.

Be well aware of that.

[iCEBREAKER]

And please, don't let icebreaker to endorse Decred. 

Icebreaker is a despicable human being. 

Professional liar and troller. Be well aware of that.   

Oh brother, bantering with angry Dash bagholders like you two and big-blockers like Frap.doc is just a hobby.  But I'm flattered you think I'm good enough to go pro.   

I'm here in the Decred thread to learn, and maybe be helpful and or actually productive.  How about you guys?

I notice you both have been in Dash a long time and very nearly exclusively post on its thread.  Any plans to sell some masternodes and buy into the Decred airdump?

What's the right balance of XDC/DASH/PPC for the balanced PoS porftfolio?  1/3 each?

[The real one]

Please remove this user (https://bitcointalk.org/index.php?action=profile;u=233575) from  AIRDROP database. He ammitted that he has exploited the airdrop with multi account.

Also please report him.

leggendo il thread ufficiale sembra che abbiano adottato delle misure riguardo agli indirizzi IP e i timestamps comunque a loro detta riguardo al fatto che  i sottoscrittori ne riceveranno "né pochi né troppi" mi fa ipotizzare ad occhio guardando forum, reddit e social network vari che forse non si sia arrivati a 2000 il che vuol dire più decred per noi 

quindi chi ha usato lo stesso IP non riceverà nemmeno la richiesta di confermare o non riceverà le coin?

Ma perchè era possibile richiederli in altro modo, oltre a dargli il link dell'account del forum ? Bastava anche un semplice account facebook o twitter? Splatters cmq bastava usare tor per registrarsi 

io ne ho prese alcune col forum loro e altre dal form

They talking in italian on how they exploited the airdrop.Splatters has used BTCTALK multiaccount and decred forum multiaccount.

The other user suggest Splatters to use TOR but he didn't ammit the SCAM, only Splatters does.

Please investigate and BAN before the genesis launch.

[decred]

And please, don't let icebreaker to endorse Decred.

Icebreaker is a despicable human being. He is a professional liar and troller. Be well aware of that.

People are here on the basis of their own free will. This is not a project where there will be personal attacks against others - not from the project's side. You are free to say anything you want, and please know there will be no attempt to censor you, but personal preferences for who and who should not be allowed to post here or be part of the project will have no effect on their participation - everyone is welcome and contribution will always be empowered. Everyone is judged solely on the basis of the merit they show in their work on the project - and that includes discussing the issues here and elsewhere. Contribution only starts at "why do this?" - it is not up to the project to construct a solution to every query. It is up to everyone with a better solution to step up and detail that proposal properly and show clearly why it is a better option. That is no easy task, but that's a fundamental consideration of in-depth critique.

[aleix]

And please, don't let icebreaker to endorse Decred.

Icebreaker is a despicable human being. He is a professional liar and troller. Be well aware of that.

People are here on the basis of their own free will. This is not a project where there will be personal attacks against others - not from the project's side. You are free to say anything you want, and please know there will be no attempt to censor you, but personal preferences for who and who should not be allowed to post here or be part of the project will have no effect on their participation - everyone is welcome and contribution will always be empowered. Everyone is judged solely on the basis of the merit they show in their work on the project - and that includes discussing the issues here and elsewhere. Contribution only starts at "why do this?" - it is not up to the project to construct a solution to every query. It is up to everyone with a better solution to step up and detail that proposal properly and show clearly why it is a better option. That is no easy task, but that's a fundamental consideration of in-depth critique.

I understand and concur with your words. I will not mention this topic again if not necessary.

Some of us here have some experience with each other in this forums. Sadly, I know some people background very well.

best regards,

[aakashsangwan]

What's the time for air drop to happen,  I thought that the day was today, 25th.

[DunningKruger]

And please, don't let icebreaker to endorse Decred.

Icebreaker is a despicable human being. He is a professional liar and troller. Be well aware of that.

People are here on the basis of their own free will. This is not a project where there will be personal attacks against others - not from the project's side. You are free to say anything you want, and please know there will be no attempt to censor you, but personal preferences for who and who should not be allowed to post here or be part of the project will have no effect on their participation - everyone is welcome and contribution will always be empowered. Everyone is judged solely on the basis of the merit they show in their work on the project - and that includes discussing the issues here and elsewhere. Contribution only starts at "why do this?" - it is not up to the project to construct a solution to every query. It is up to everyone with a better solution to step up and detail that proposal properly and show clearly why it is a better option. That is no easy task, but that's a fundamental consideration of in-depth critique.

I pray that the Cryptocurrencies Community stop acting like its a civil war, and learn to be a family. We should respect each other projects, but I only see trolling and mischief: actions that hurt all cryptocoins. Of course it's revolting to see how these despicable trolls act in a shameless manner: I can easily understand aleix's reaction. But its stupid to keep feeding those disagreements.
Shame to see that the members of this community are fighting each other, instead of uniting. There's a lot to learn from each crypto project, for the benefit of all.

[Lukas_Jackson]

And please, don't let icebreaker to endorse Decred.

Icebreaker is a despicable human being. He is a professional liar and troller. Be well aware of that.

...free will...

Obviously. A friend here.
But what about this bit?

...Wouldn't be better to hire devs? Or pay them for taking the risk later. Decred proudly announce Governance and voting from the start.
Why not use it in proper way? That would be the best and fair way.

It will determine if you will have my vote or not on the market.


Edit: icebreaker endorsed the other day hashfast/scam and was involved with them from the start.
It has nothing to do with him trolling Dash. He is irrelevant. End of story for me.

[rizzlarolla]

What bothers me,

c0's % of the premine should be priced at $1.00 per decred. The price "at which this project may be able to sustain itself at 10% subsidy"

(Beyondtext said "If we assume the value of 1 decred averages to USD 1.00 over the first year, this means we'll have USD 302K to spend on development work.  This is a small amount of funding and can pay for 3-4 full time developers for 1 year, so if we went below 10% dev subsidy it would mean the project cannot fund itself unless its exchange rate is well over USD 1.00 per decred")

But then c0's guaranteed 400,000 decred PoS awards in year 1 MUST also be considered in the "compensation package".
This 400,000 "free and guaranteed" PoS is more than the dev fund receives in year 1, yet is totally unaccounted for in the c0 "compensation package"

c0 "imply" they are not seeking profit here. They just say they want "compensation for bring up costs" = $420,000. ok fair enough.
But, c0's "compensation package" is structured to produce 3x that figure = "compensation for bring up cost + 200% profit"
(100% profit at launch + 100% profit in yr 1. based on decred price "at which this project may be able to sustain itself at 10% subsidy")

So, a fairer "compensation package for bring up costs" would be something like,
TOTAL received by c0 at end year1 (premine + PoS) = 420,000 decred.
(ALL the premine/distribution/PoS figures would need changing)

[ig0tik3d]

dev, any news about approximate start of testnet?

[davien]

dev, any news about approximate start of testnet?

I guess first, they will publish the statistics of the airdrop. If i remember right they said that maybe this week the testnet will be running

[Gillette]

When the ICO of Decred is planned?

[Netnox]

What bothers me,

c0's % of the premine should be priced at $1.00 per decred. The price "at which this project may be able to sustain itself at 10% subsidy"

(Beyondtext said "If we assume the value of 1 decred averages to USD 1.00 over the first year, this means we'll have USD 302K to spend on development work.  This is a small amount of funding and can pay for 3-4 full time developers for 1 year, so if we went below 10% dev subsidy it would mean the project cannot fund itself unless its exchange rate is well over USD 1.00 per decred")

But then c0's guaranteed 400,000 decred PoS awards in year 1 MUST also be considered in the "compensation package".
This 400,000 "free and guaranteed" PoS is more than the dev fund receives in year 1, yet is totally unaccounted for in the c0 "compensation package"

c0 "imply" they are not seeking profit here. They just say they want "compensation for bring up costs" = $420,000. ok fair enough.
But, c0's "compensation package" is structured to produce 3x that figure = "compensation for bring up cost + 200% profit"
(100% profit at launch + 100% profit in yr 1. based on decred price "at which this project may be able to sustain itself at 10% subsidy")

So, a fairer "compensation package for bring up costs" would be something like,
TOTAL received by c0 at end year1 (premine + PoS) = 420,000 decred.
(ALL the premine/distribution/PoS figures would need changing)

Just let Decreds concensus process take care of new ideas and changes, it's not Bitcoin where PoW miners can easily block a consensus change.

[davien]

When the ICO of Decred is planned?

There is no ICO i guess.

[Gillette]

When the ICO of Decred is planned?

There is no ICO i guess.

No ICO? But how are they going to distribute 21m coins?