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

[Wheatclove]

When the ICO of Decred is planned?

There is no ICO i guess.

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

PoW

[1714841065]

1714841065

[1714841065]

1714841065

[1714841065]

1714841065

[1714841065]

1714841065

[scam confirmed]

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.

This is Decred where consensus is mutilated and deliberately violated, where significant 34% minorities are being pressured and forced into major changes to consensus rules. Like it or lump it... This is a joke!

[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?

PoW

So, there will be only airdrop distributed coins which is 4% of the total supply + 4% distributed to devs and the remaining 92% will be mined?

[davien]

When the ICO of Decred is planned?

There is no ICO i guess.

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

PoW

So, there will be only airdrop distributed coins which is 4% of the total supply + 4% distributed to devs and the remaining 92% will be mined?

Exactly

[BitcoiNaked]

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.

This is Decred where consensus is mutilated and deliberately violated, where significant 34% minorities are being pressured and forced into major changes to consensus rules. Like it or lump it... This is a joke!

You know whats a joke? Less than 1% of the bitcoin community deciding everything and 99% are being forced to major changes to concensus rules, like it or lump it... this is what u call a joke.

[davien]

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.

This is Decred where consensus is mutilated and deliberately violated, where significant 34% minorities are being pressured and forced into major changes to consensus rules. Like it or lump it... This is a joke!

You know whats a joke? Less than 1% of the bitcoin community deciding everything and 99% are being forced to major changes to concensus rules, like it or lump it... this is what u call a joke.

You couldn't say it better. I don't know why people start to complain about this consensus stuff. This is a privilege. Very few coins offered you something like this.

[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)

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.

This is Decred where consensus is mutilated and deliberately violated, where significant 34% minorities are being pressured and forced into major changes to consensus rules. Like it or lump it... This is a joke!

You know whats a joke? Less than 1% of the bitcoin community deciding everything and 99% are being forced to major changes to concensus rules, like it or lump it... this is what u call a joke.

You couldn't say it better. I don't know why people start to complain about this consensus stuff. This is a privilege. Very few coins offered you something like this.

My post has NOTHING to do with consensus rules. 

[MsCollec]

When will PoW start?

[freemind1]

There is still no scheduled date for PoW phase @MsCollec. Before that should make public the information about the Airdrop and testnet.

[MsCollec]

There is still no scheduled date for PoW phase @MsCollec. Before that should make public the information about the Airdrop and testnet.

Okay, Thanks.
I will keep an eye on the thread for future updates.

[_ingsoc]

There is still no scheduled date for PoW phase @MsCollec. Before that should make public the information about the Airdrop and testnet.

Everyone has until 12:00 PM CST today to complete the airdrop confirmation process if they haven't done so already. A rundown of airdrop is being posted today and block header specifications will be out too. It'll be an active week.

[_ingsoc]

what about those who do not register now .. will they ever get their decreds?

Only those who have successfully completed the confirmation process will be included. There have been quite a few airdrop announcements, reminders, and even multiple rounds of e-mails sent to interested participants to try and make sure everyone completed. The final numbers will only reflect those who have gone through the whole process and submitted a Decred address. The process was designed to be as user-friendly as possible, but it can certainly be considered another check to make sure those who completed the process are truly interested in the project. Nobody benefited from a "submit and forget" approach to the airdrop.

[edmundduke]

There is still no scheduled date for PoW phase @MsCollec. Before that should make public the information about the Airdrop and testnet.

Everyone has until 12:00 PM CST today to complete the airdrop confirmation process if they haven't done so already. A rundown of airdrop is being posted today and block header specifications will be out too. It'll be an active week.

what about those who do not register now .. will they ever get their decreds?

I believe they will just miss their coins and they will be distributed among other participants (i believe it was mentioned somewhere in an earlier post). I am really looking forward for the rundown to see how the airdrop actually went. No doubt it will be an active week as we get closer and closer to the launch. I hope we get to see at least the testnet this week as well.

[davien]

There is still no scheduled date for PoW phase @MsCollec. Before that should make public the information about the Airdrop and testnet.

Everyone has until 12:00 PM CST today to complete the airdrop confirmation process if they haven't done so already. A rundown of airdrop is being posted today and block header specifications will be out too. It'll be an active week.

Thanks on the quick update. We are waiting to get more info . Any estimations on the date of testnet release?

[freemind1]

Today more updated news about the Airdrop be published @davien, so I guess the news about Tesnet will be available shortly after

[anders lokka]

From latest ingsoc post:
"12:00 PM CST today to complete the airdrop confirmation process if they haven't done so already.
A rundown of airdrop is being posted today and block header specifications will be out too"

[decred]

The airdrop initiative has been finalised, and the project is now in a position to present a general overview of what has transpired and provide more information about the network distribution when mainnet is launched in the future.

In total, 3,244 participants have successfully completed the airdrop confirmation process through the submission of a Decred address. The airdrop opened with the public announcement of Decred on December 15th, 2015 and closed on January 18th, 2016. The airdrop sign up was open for 34 days and participants joined the project from 99 different countries. The top fifteen countries based on the IP addresses of successful participants are as follows (in percentages):

• United States - 27.0
• United Kingdom - 7.0
• Brazil - 5.7
• Germany - 5.3
• Russia  - 4.4
• Netherlands - 4.0
• France - 4.0
• Canada - 3.8
• Italy - 2.9
• Ukraine - 2.4
• Australia - 2.3
• Estonia - 2.1
• India - 1.8
• Switzerland - 1.6
• Japan - 1.5

These 15 countries represent 75.9% of successful participant IP addresses based on geolocation, and serve as a crude overview of airdrop participants who completed the process. This means every successful participant will receive approximately 258.93958076 decred when they import the seed they generated (and saved) into a wallet in the future. The process of evaluation involved a combination of:

• Checking each entry individually for an online presence
• Asking the participant directly for more information where the evaluator was unsure about the entry, and/or
• Having a discussion with the participant about their interests, history, and proposed future contributions to the project

Checks were also included to investigate similarity in IP addresses and e-mail addresses across entries - this process was performed manually as well. Whilst no evaluation system is perfect, every reasonable effort was made to pay each applicant as much time as possible and balance these responsibilities against the demands of software development and testing with as few delays as possible.

However, in response to community concern, and as a show of good faith, the project has decided to conduct another (and final) sweep of the database to check its integrity and remove problematic entrants that are identified as fraudulent. The outcome of this may result in each successful participant receiving slightly more coins than stated - but no less than 258.93958076.

Everyone can be proud of their efforts to help secure a very important first step: to decentralise the network with many early participants; a truly global distribution of the currency from the very beginning. The project welcomes you, and all others that join us now and in the future, to an exciting week marked by the release of a public testnet, miner binaries, and block header specifications!

Note: You can also visit your airdrop confirmation link to see the Decred address submitted to the database. Airdrop will go to this address.

Source: Airdrop Rundown

[rizzlarolla]

Exactly... unless there's more info we're not getting as to the use of the funds

What he is referring to is a misrepresentation and presented as a quote throughout his posts, when it is not a true quote at all. I only present this here because his quote is false - not to engage in destructive arguments. Here is what was actually said:

While I understand that you may feel 10% is too high a rate, as someone who has funded a lot of development work over the past 5 years, I disagree with your assessment.  At a 10% subsidy rate, the dev organization will accumulate approximately 302,000 decred during its first year.  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.

The 4% of the premine was paid for in USD, BTC and labor by Company 0 and its developers.  Unlike other projects, we did not push the risk of failure onto the community by asking them to fund the work.  We have made an effort to lead with our deliverables in a niche where there is lots of vaporware and questionable offerings.  As our btcsuite work shows, this work has been going on for years, even without any funding except from me.

What is presented here is a scenario with a dev subsidy of 10%, as it is now, and a hypothetical value of USD 1.00 per decred, under which the project can pay for 3-4 full-time developers. He said if the subsidy was lower than 10%, which it is not, problems could occur in funding development work in a sustainable way. If you read it, that's what it explains.

Sorry _ingsoc you are wrong.

Beyondtext explains BECAUSE OF the 10% block subsidy, decred NEEDS to be priced at $1.00. THEN the project can fund 3/4 devs. ($320,000)


For example,
BECAUSE OF the 10% block subsidy, if decred is priced (by the market) at $0.25, the project will fund only nearly 1 dev. = $80,000
(and will be a fail, as Beyondtext says, because even $320,000 is a SMALL amount of funding)

The 10% block subsidy is not a magic number for success, without decred ALSO being priced at $1.00.
Beyondtext is saying BECAUSE OF the 10% block subsidy, decred needs to be $1.00 to fund required numbers of devs to make this project work.


decred price is totally relevant in Beyondtext's explanation.

 

[dygus]

There is still no scheduled date for PoW phase @MsCollec. Before that should make public the information about the Airdrop and testnet.

Everyone has until 12:00 PM CST today to complete the airdrop confirmation process if they haven't done so already. A rundown of airdrop is being posted today and block header specifications will be out too. It'll be an active week.

what about those who do not register now .. will they ever get their decreds?

I believe they will just miss their coins and they will be distributed among other participants (i believe it was mentioned somewhere in an earlier post). I am really looking forward for the rundown to see how the airdrop actually went. No doubt it will be an active week as we get closer and closer to the launch. I hope we get to see at least the testnet this week as well.

It'd be fair

[dygus]

The airdrop initiative has been finalised, and the project is now in a position to present a general overview of what has transpired and provide more information about the network distribution when mainnet is launched in the future.

In total, 3,244 participants have successfully completed the airdrop confirmation process through the submission of a Decred address. The airdrop opened with the public announcement of Decred on December 15th, 2015 and closed on January 18th, 2016. The airdrop sign up was open for 34 days and participants joined the project from 99 different countries. The top fifteen countries based on the IP addresses of successful participants are as follows (in percentages):

• United States - 27.0
• United Kingdom - 7.0
• Brazil - 5.7
• Germany - 5.3
• Russia  - 4.4
• Netherlands - 4.0
• France - 4.0
• Canada - 3.8
• Italy - 2.9
• Ukraine - 2.4
• Australia - 2.3
• Estonia - 2.1
• India - 1.8
• Switzerland - 1.6
• Japan - 1.5

These 15 countries represent 75.9% of successful participant IP addresses based on geolocation, and serve as a crude overview of airdrop participants who completed the process. This means every successful participant will receive approximately 258.93958076 decred when they import the seed they generated (and saved) into a wallet in the future. The process of evaluation involved a combination of:

• Checking each entry individually for an online presence
• Asking the participant directly for more information where the evaluator was unsure about the entry, and/or
• Having a discussion with the participant about their interests, history, and proposed future contributions to the project

Checks were also included to investigate similarity in IP addresses and e-mail addresses across entries - this process was performed manually as well. Whilst no evaluation system is perfect, every reasonable effort was made to pay each applicant as much time as possible and balance these responsibilities against the demands of software development and testing with as few delays as possible.

However, in response to community concern, and as a show of good faith, the project has decided to conduct another (and final) sweep of the database to check its integrity and remove problematic entrants that are identified as fraudulent. The outcome of this may result in each successful participant receiving slightly more coins than stated - but no less than 258.93958076.

Everyone can be proud of their efforts to help secure a very important first step: to decentralise the network with many early participants; a truly global distribution of the currency from the very beginning. The project welcomes you, and all others that join us now and in the future, to an exciting week marked by the release of a public testnet, miner binaries, and block header specifications!

Note: You can also visit your airdrop confirmation link to see the Decred address submitted to the database. Airdrop will go to this address.

Source: Airdrop Rundown

I don't see my country