Agreed with BitcoinDad with what he said regarding RaiBlocks on shitcointalk. let me paraphrase:
He's not happy (neither are investors) with the way RaiBlocks is being handled. Too much dev time spent on faucet and supporting this captcha distribution and not on the tech.
Proposal:
- Turn off captcha/faucets for XRB indefinitely
- Burn the rest of the supply
- Focus on getting XRB the liquidity it needs (and making investors happy) by applying to exchanges now rather than later
- Work on the development of the coin itself, not the irrelevant faucets.
Distribution is already at a good place. Imagine if all the dev time that was spent on faucets and reworking the captcha claims was instead spent on improving the tech of RaiBlocks - we could easily be a top 100 or more coin. Burn the remaining supply, talk to exchanges now (instead of later) and focus efforts on development.
Is it possible to change the distribution method from the current method to Proof of stake or Masternode?
I didn't saw the op but I was thinking about the same kind of post lately:
The captcha distribution was good to avoid the ICO issue. "ICO issue" itself is only an Issue for those who think crypto needs regulation...
The captcha distribution is bad because it takes some dev power into it. Better dev devin fulltime XRB.
Captcha distribution doesn't have any other purpose than achieving "fair distribution" wich is not right (explained later) on top of that it's is not securing the network at all as the whole coin was emited on the genesis block !
Wich leads to the biggest problem. Captcha/faucet dsitribution is DEFEATING the purpose of a DECENTRALIZED currency by having a CENTRALIZED method of distribution. The faucet can be turned off and on at will whereas one of the core idea of bitcoin was and is a foreseeable and decentralized math backed emission that everyone know what will be the amount and intervalle of it (curve). And this point is absolutely putting some money away from being invested in this coin.
So I was thinking about turning it off for good and then sending the rest with a snapshot nearly tripling our holdings. But the idea of burning the rest is even better and less of a hassle.
Also a part of the captcha community is toxic and even if I'm not buying the Cryptopia story fully there was some true about it (overall I think it was to much work to maintain this specific coin at the time so they took the "death threat" excuse). They still hurt the coin.
There is NO pro to the faucet. Maybe it was earning a bit of money for the dev I don't even know, good for him but putting 100% of his skill into the coin itself will be a far better earner after some time. The purpose of "fair" distribution is a myth; the faucet users are dumping to the exchanges and only the deregulated market reigns suprem on the price of the coin. It's the true actor of the distribution of the coin. Faucet is an useless layer here (that in fact takes time and hurts the coin so not useless but toxic).
So yes I'm also on the side of turning down the faucet and burning the rest of the supply. Then from this point let the dev dev and the market decides the fate of the coin.
There is competion in crypto dev, bigtime. So if you want your coin to be really adopted and succesful you need to cut the not so good ideas and focus on the strenght of the protocol. Distribution can't be done like this for much more longer without creepling the coin even more.
tldr: The faucet has close to no pro and many cons some are even hurting the coin itself at the moment.
Ps: Masternodes sucks and are security threat and an useless layer too, it's only good as a pnd tool. Maybe it's not even doable in XRB per design (having no clue here).
