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

[Soul_eater_123]

I don't see that a particular business case is needed. People have long debated what the business case for Bitcoin is, and the jury is not out on that one yet... What is most distinguishing with Decred, is in effect the technical stuff.

Once the comprehensive voting infrastructure is built (beyond voting on PoW), development funding and direction is effectively decentralized. This is unique and truly powerful, especially on a platform that is largely similar to Bitcoin but with a lot of technical improvements to begin with. But since you don't seem to care much about the technical stuff, I don't expect any of this to resonate...

Note: I do believe that a particular business case is sometimes useful and valuable, however I don't think that one is always fundamentally required. If you look at the majority of the popular altcoins (say for example a top50, by what I suppose most people would define as popular, some sort of combination of market cap along with sustained trade volume), you'll find that business cases are largely absent, barring a couple of exceptions.

That was true in 2013/2014 when most of the altcoins that have survived were created but it is a fallacy to compare the situation now with then.  Sooner or later a business model will be required.  I am hoping that DCR will have enough community support to survive until then. 

[ilia7777]

I guess nobody wants to discuss the business case for Decred ? People seem to be stuck on technical stuff. The mining is working fine but you don't even get a dollar per card per day. I'm just wondering what others base their belief that its going to take of on ?

I don't see that a particular business case is needed. People have long debated what the business case for Bitcoin is, and the jury is not out on that one yet... What is most distinguishing with Decred, is in effect the technical stuff.

Once the comprehensive voting infrastructure is built (beyond voting on PoW), development funding and direction is effectively decentralized. This is unique and truly powerful, especially on a platform that is largely similar to Bitcoin but with a lot of technical improvements to begin with. But since you don't seem to care much about the technical stuff, I don't expect any of this to resonate...

Note: I do believe that a particular business case is sometimes useful and valuable, however I don't think that one is always fundamentally required. If you look at the majority of the popular altcoins (say for example a top50, by what I suppose most people would define as popular, some sort of combination of market cap along with sustained trade volume), you'll find that business cases are largely absent, barring a couple of exceptions.

As a former real time software developer I could understand and appreciate technical stuff.  But what I really want to understand is what is going to trigger massive move from bitcoin to decred. How critical are these improvements ? If somebody could give real examples I would really appreciate it. For example 1000 people and 100 companies using bitcoin today are asking for these and can't live without it.

Bitcoin price and success is mostly supported by darknet and Chinese. There is some real demand for it for legitimate transactions but its secondary. Ethereum rise is supported by bitcoin holders wanting to get rich on another rally.  Who is going to buy decred and for what puproses ? I'm willing to participate but I'd like to see some added value first.

[ilia7777]

Real transactional volume is going to be on permissioned blockchains, all public ones will become heavily regulated and the rest is going to be used by darknet. This is the future like it or not. Few currencies is really enough. From my perspective even one is enough.  Businesses don't really want to duplicate infrastructure to support new currency.  People can pay with bitcoins and that is enough unless the network is going to go down completely the chances of which is quite slim.

[myagui]

Not to say that those arguments are entirely without reasoning, but there's some wild predictions being claimed as the certain future there, lacking any substantive evidence whatsoever. Were can I get one of them crystal balls please? 

[Soul_eater_123]

Not to say that those arguments are entirely without reasoning, but there's some wild predictions being claimed as the certain future there, lacking any substantive evidence whatsoever. Were can I get one of them crystal balls please? 

With a solid business foundation you don't need the crystal ball as much but agreed it's all a gamble;)

[Finksy]

People probably just opened their wallet with a bat file that automatically purchases tickets and set the max price high or not at all. Not everyone loves this command line terminal and so they take all of the shortcuts they can. The fact that they have figured out how to stake at all, probably indicates that their intelligence is at least 1 standard deviation above the mean. So I wouldn't exactly say they are

stypidfdddd.

Well, if they got the batch files from someplace and did not even care to change the parameters they are not exactly smart either.

If the had no max price ( 0 ) then they could only buy tickets manually which is probably the best thing to do.

I cannot understand how anyone at all buys tickets at 50 price.

I'm not making a case for buying tickets for higher than required to, but in fairness even at 50DCR per ticket you are earning an average compounding annual interest rate of around 47%, that compounds about 13 times annually. Not exactly a terrible earning compared to fiat investments or most other cryptos.  I wouldn't characterize someone who settles for that kind of interest rate

stypidfdddd.

either.

[gtzanap]

Certainly I am not arguing either that 50 dcr per ticket is a bad deal per se.
But with only a little observation one can see the pattern in prices and realize that waiting a few days at most can lead in getting anywhere from 2 to 5 times more tickets.

It makes no sense at all to choose to pay the higher price or at least I fail to find a single good reason to do so. My guess is that they don't really know what they are doing. Perhaps they are not even aware of decred stats site

[bones261]

Certainly I am not arguing either that 50 dcr per ticket is a bad deal per se.
But with only a little observation one can see the pattern in prices and realize that waiting a few days at most can lead in getting anywhere from 2 to 5 times more tickets.

It makes no sense at all to choose to pay the higher price or at least I fail to find a single good reason to do so. My guess is that they don't really know what they are doing. Perhaps they are not even aware of decred stats site

I don't even own 50 coins anymore. So it isn't me purchasing them. 

[l8nit3]

Just got a suuuuper cheap gigabyte r9 270x. Anybody know good clock settings? I havent really been gpu mining since the glory days of scrypt :p
Currently, I have it running ~895 Mhs at   e:1100 m:1000 I:12

[Farndogg]

Just got a suuuuper cheap gigabyte r9 270x. Anybody know good clock settings? I havent really been gpu mining since the glory days of scrypt :p
Currently, I have it running ~895 Mhs at   e:1100 m:1000 I:12

You dont need the memory set above default, i run mine lower. Depending on the miner you are using you could up the I - a bit. I wouldn't expect over 1GH tho, my 280's do 1.25

[l8nit3]

You dont need the memory set above default, i run mine lower. Depending on the miner you are using you could up the I - a bit. I wouldn't expect over 1GH tho, my 280's do 1.25

Memclock does not need to be upped for extra speed?? So I can basically remove the --gpu-memclock setting from my .bat? I am using cgminer-3.7.2-decred..... it was the first miner I found. I literally hooked up the gpu this afternoon EST lol. So haven't had much time to mess with settings, and as I say, I'm new to the next-gen algo's. So please forgive my ignorance on the matter.

[danielj314]

I guess nobody wants to discuss the business case for Decred ? People seem to be stuck on technical stuff. The mining is working fine but you don't even get a dollar per card per day. I'm just wondering what others base their belief that its going to take of on ?

I don't see that a particular business case is needed. People have long debated what the business case for Bitcoin is, and the jury is not out on that one yet... What is most distinguishing with Decred, is in effect the technical stuff.

Once the comprehensive voting infrastructure is built (beyond voting on PoW), development funding and direction is effectively decentralized. This is unique and truly powerful, especially on a platform that is largely similar to Bitcoin but with a lot of technical improvements to begin with. But since you don't seem to care much about the technical stuff, I don't expect any of this to resonate...

Note: I do believe that a particular business case is sometimes useful and valuable, however I don't think that one is always fundamentally required. If you look at the majority of the popular altcoins (say for example a top50, by what I suppose most people would define as popular, some sort of combination of market cap along with sustained trade volume), you'll find that business cases are largely absent, barring a couple of exceptions.

I appreciated this response to this question. I have been researching Decred and trying to understand what makes it unique and why I might want to invest in it. You've done a nice job in this response of making a case for what makes Decred special.

[ilia7777]

Not to say that those arguments are entirely without reasoning, but there's some wild predictions being claimed as the certain future there, lacking any substantive evidence whatsoever. Were can I get one of them crystal balls please? 

You could read Morgan Stanley predictions on the future of blockchain which I referenced above in my earlier posts. I totally understand where they are coming from as I deal with this stuff daily. I'm in charge of foreign business development for the largest money transfer company in Europe and third largest in the world with 20 billion USD turnover. The regulation is so heavy that its a real obstacle to our work and NOTHING is going to change that. If we move even 1% of our operations to blockhain not asking the regulator we are going be closed tomorrow.

[ilia7777]

That said, I do have some ideas on how to commercilalize Decred blockchain but it would need to become permissioned one, it would have to let go the currency altogether and do some heavy very specialized development for our industry needs. I'm not even going to ask Decred developers if they are interested cause obviously the answer is going to be no.

[_ingsoc]

Anyone have an ELI5 for the first post?

Decred is an early-stage project that is attempting to build a principled platform for blockchain and project governance. Blockchain governance is a complex topic, but in simple terms, Decred will give its users representation in the determination of where the blockchain goes by voting on blocks to achieve social consensus about its future. It is early-stage because right now the software is mostly accessible to users comfortable with a command-line interface, users are still getting to know the concepts, developers are still improving the software on a daily basis, and the necessary infrastructure is still being put in place so voting is accessible to all users.

Project governance, however, is a concept that has been explored more thoroughly. Decred is backed by a group of developers responsible for btcsuite - a suite of packages and tools for working with Bitcoin in Go (Golang) including btcd, a full node, mining-capable, Bitcoin implementation. Decred is also self-funding, which means users and miners can have confidence in the notion that development is active and will remain active. In short, developers maintain and improve Decred, but ultimately it will be up to the collective that has formed in Decred to use its features to decide where it goes - even things like smart contracts are quite easily done in Decred, but right now it's about focusing on the fundamentals so that everyone with interest may have accessible representation and a say in Decred.

[jeremy grol]

Smart contracts on decred? That's an amazing news!

[rajeshgarnaik]

Gui Wallet Plz

[hakanf]

Any updates on GUI wallet?

[Gillette]

Is Decred online wallet secure? Any feedback?

[_ingsoc]

Is Decred online wallet secure? Any feedback?

Let me quote from the FAQ section in dcrdocs, which is currently being completed as part of RFP-4:

The web client is a fork of Copay, so it is as secure as that. The seed (and hence private keys) are kept and computed locally in your browser's local storage and everything is run client-side. The server never has access to any of the private data needed to spend coins.

That means it's not an account service, so it basically uses your browser to act as a GUI.