[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[nicemycoin]

NO pool？solo only？

[georgem]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode". So there will be just a few masternodes with like 10,000+ SPR in them and then many many with like 2 or 3 SPR in them and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR based on what is technically needed and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it. Not an arbitrary amount (like 1,000 DRK).
JL

If I understood him correctly, when maximum nr of masternodes is reached +1, then the masternode with the fewest coins will shut down, etc... it will need to add additional SPR to its account to continue staying in the game. (But at that point another masternode will be shut down, lol)

Sounds brilliant. Holy shit. What fierce competition this will create...

This reminds me of this game, MUSICAL CHAIRS, with the limited amount of chairs you can sit on, lol....

http://en.wikipedia.org/wiki/Musical_chairs

[gjhiggins]

I'll go ALL IN when spreadcoin gets its encrypted in-wallet messaging system. I WANT IT SO MUCH!

Oh? I'd be interested in your use case, i.e. “why?”

fwiw, I'm playing around with an experimental Spreadcoin wallet with some additions: gussied-up icons, Bellacoin's diff history chart, Banksycoin's in-wallet IRC and [Talk|Chat]coin's encrypted messaging (the latter working only on testnet thus far).

As with the in-wallet block explorer, the in-wallet chat is accessed via menu (the penultimate item: "Chat Window")



and presented in a separate window:



leading to the (by now fairly standard) in-wallet IRC messaging:



I originally submitted an exploratory PR, adding Bella's difficulty chart to the overview page, Mr Spread thought it'd be better placed on the mining page, here's the candidate:



Alert readers will have noted the appearance of a “Trade” option, again adapted from an existing in-wallet trading implementation. It's fairly primitive, limited to Bittrex and I haven't had chance to check its functioning as yet but now that SPR is listed on BIttrex, it seems to be working largely as expected:



Finally, an adoption of the Talkcoin/Chatcoin encrypted in-wallet messaging --- very early days for this, I've only just decanted the code and it only works on the testnet atm:



It's important to note that these are merely “suck it and see” experiments with no particular ambition to be included in an “official” release (whatever that might be in a p2p context), largely because so many of these nice ideas ultimately prove to be more trouble than they're worth and there's no substitute for actually getting your hands dirty and having a go at finding out.

Neither the Trade tab nor the in-wallet encrypted messaging is yet fit to be seen in public so they remain unpublished for the time being ... but gussied-up icons, a diffplot and an IRC chat window are basically just cosmetic (a fork is not required) so if you fancy joining in with the experiment, you can check out and compile the cpuminer1.2.trial branch:

https://github.com/gjhiggins/spreadcoin/tree/cpuminer1.2.trial


Cheers

Graham

Edit: not last, penultimate

[MyFarm]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode". So there will be just a few masternodes with like 10,000+ SPR in them and then many many with like 2 or 3 SPR in them and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR based on what is technically needed and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it. Not an arbitrary amount (like 1,000 DRK).
JL

If I understood him correctly, when maximum nr of masternodes is reached +1, then the masternode with the fewest coins will shut down, etc... it will need to add additional SPR to its account to continue staying in the game. (But at that point another masternode will be shut down, lol)

Sounds brilliant. Holy shit. What fierce competition this will create...

That's the way I interpreted it George.  And god do I hope it's true as it's fucking amazing.  Competition for masternodes?  YES PLEASE.

[Jesse Livermore]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode". So there will be just a few masternodes with like 10,000+ SPR in them and then many many with like 2 or 3 SPR in them and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR based on what is technically needed and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it. Not an arbitrary amount (like 1,000 DRK).
JL

If I understood him correctly, when maximum nr of masternodes is reached +1, then the masternode with the fewest coins will shut down, etc... it will need to add additional SPR to its account to continue staying in the game.

Sounds brilliant. Holy shit.

Wow that is pretty awesome too if that's what he meant. So he'll say the max DM's (Decentralized Masternodes) is like 1,000 with a minimum of like 100 SPR to start with. And once 1,001 DM's are reached the minimum SPR goes up to like 110 which will bring the new DM total to like 950 and the whole process starts over once 1001 DM's are reached again.
Awesome.

Edit: Okay, it does look like it's this way potentially. Amazing idea.

[Mr. Spread]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode" and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it.
JL

This is not like there are some distinct phases: first everyone sends money, then we select masternodes. No, it is a continuous process, you look at what amounts current masternodes have, you see that the top masternode has 1500 SPR and the bottom one has only 1200 SPR, you put, say, 1300 SPR to your masternode, you will be added to the list of masternodes, the bottom masternode will be excluded and others will be unaffected.

[georgem]

Hats off, Mr.Spread.

Not only do you understand decentralization, you also understand the mechanics of a truly free market (which also ties back to decentralization)...

man oh man.

[dilution007]

wow ,a guy just bought 15K spr worth of 6.45 BTC at a time

[defunctec]

[Jesse Livermore]

Hats off, Mr.Spread.

Not only do you understand decentralization, you also understand the mechanics of a truely free market (which also ties back to decentralization)...

man oh man.

Agreed, good job, Mr. Spread!
One of things I never quite liked about Evan's idea on MN's was the arbitrary 1,000 DRK needed to run one. This completely demolishes the arbitrary-ness and IMO gives SPR a huge leg-up on DRK.
Buying more.
JL

[georgem]

I'll go ALL IN when spreadcoin gets its encrypted in-wallet messaging system. I WANT IT SO MUCH!

Oh? I'd be interested in your use case, i.e. “why?”

"in-wallet messaging system" ? That's so yesterday.

Who needs an in-wallet messaging system when you have DECENTRALIZED MASTERNODES!

just kidding.
For me as a software developer / artist, I would love the ability of someone sending me money anonymously, and me sending him information back (e.g. serial number, download link, whatever) to his wallet.
Without him having to give me ANY ADDITIONAL information whatsoever.

Mr.Spread just explained a few posts earlier that this can't work like that, you need to broadcast atleast SOMETHING additional, your address will not suffice.

[Mr. Spread]

For me as a software developer / artist, I would love the ability of someone sending me money anonymously, and me sending him information back (e.g. serial number, download link, whatever) to his wallet.
Without him having to give me ANY ADDITIONAL information whatsoever.

Mr.Spread just explained a few posts earlier that this can't work like that, you need to broadcast atleast SOMETHING additional, your address will not suffice.

It can work by broadcasting this additional information but this will require some additional actions from those who will want to receive messages, what you want is simpler though, by signing transaction you make your public key known, this should be enough to encrypt a message. But some people may send you money not from the wallet but from an exchange which will probably just ignore such messages.

[MyFarm]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode" and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it.
JL

This is not like there are some distinct phases: first everyone sends money, then we select masternodes. No, it is a continuous process, you look at what amounts current masternodes have, you see that the top masternode has 1500 SPR and the bottom one has only 1200 SPR, you put, say, 1300 SPR to your masternode, you will be added to the list of masternodes, the bottom masternode will be excluded and others will be unaffected.

YES YES YES!

[MyFarm]

Neither the Trade tab nor the in-wallet encrypted messaging is yet fit to be seen in public so they remain unpublished for the time being ... but gussied-up icons, a diffplot and an IRC chat window are basically just cosmetic (a fork is not required) so if you fancy joining in with the experiment, you can check out and compile the cpuminer1.2.trial branch:

https://github.com/gjhiggins/spreadcoin/tree/cpuminer1.2.trial

Cheers

Graham

Edit: not last, penultimate

Kudos to you working on all this!

[georgem]

For me as a software developer / artist, I would love the ability of someone sending me money anonymously, and me sending him information back (e.g. serial number, download link, whatever) to his wallet.
Without him having to give me ANY ADDITIONAL information whatsoever.

Mr.Spread just explained a few posts earlier that this can't work like that, you need to broadcast atleast SOMETHING additional, your address will not suffice.

It can work by broadcasting this additional information but this will require some additional actions from those who will want to receive messages, what you want is simpler though, by signing transaction you make your public key known, this should be enough to encrypt a message. But some people may send you money not from the wallet but from an exchange which will probably just ignore such messages.

Holy mother of spreadonia. I would love if you could make that work, but ofcourse don't let that stand in the way of FC DM development!

Fierce Competition Decentralized Masternodes!

[georgem]

Neither the Trade tab nor the in-wallet encrypted messaging is yet fit to be seen in public so they remain unpublished for the time being ... but gussied-up icons, a diffplot and an IRC chat window are basically just cosmetic (a fork is not required) so if you fancy joining in with the experiment, you can check out and compile the cpuminer1.2.trial branch:

https://github.com/gjhiggins/spreadcoin/tree/cpuminer1.2.trial

Cheers

Graham

Edit: not last, penultimate

Kudos to you working on all this!

@gjhiggins: yeah man, awesome wallet development, keep up the good work. I'll take a closer look.

[MyFarm]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode" and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it.
JL

This is not like there are some distinct phases: first everyone sends money, then we select masternodes. No, it is a continuous process, you look at what amounts current masternodes have, you see that the top masternode has 1500 SPR and the bottom one has only 1200 SPR, you put, say, 1300 SPR to your masternode, you will be added to the list of masternodes, the bottom masternode will be excluded and others will be unaffected.

YES YES YES!

Wouldn't the price of having a masternode keep going up then?

No, it would fluctuate according to what the market dictates.  And the market would take into account countless variables.  As Jesse Livermore stated, a limitation of the Darkcoin masternodes system is the arbitrary 1000 DRK requirement.  Now, that's what most of us Darkcoiners suggested as the amount since we're used to it.  But Mr. Spread, being the genius he is, thought outside the box, and realized it's always best to let the market decide.  

Brilliance.

The current price of this coin (.00043) tells me most people have no idea just how brilliant this is and what it's going to cause.  I suspect as people ponder it and word Spreads, that this will change in the next 48 hours...

I was so tempted to snap up those 25000 coins but I realize I need to let others get a fair share at this level for better distribution.  I'm glad someone got them before I got too tempted.  I can only control myself for so long

[Jesse Livermore]

Amount for running masternode hasn't been set yet. It depends on how many masternodes we want which is not yet clear. The more is better for decentralization, on the other hand we need not to bloat the network with masternode related messages. Instead of setting the required amount it may be better to set the maximum number of masternodes and minimum required amount. Once the number of masternodes will reach the maximum only masternodes with maximum deposits will remain and others will be automatically delisted.

So if I understand this idea you're saying "No required amount of SPR is needed, put whatever SPR you believe should be enough to run a masternode into your masternode" and then when we are at what appears to be a maximum amount of masternodes you then 'draw the line' for required SPR and then everyone who has more than that amount in their masternode will need to remove their SPR to go down to that requirement and everyone who is short of that amount will need to increase their SPR to meet it?

Sort of like a market-created masternode requirement based on what is technically needed and what the market players are willing to pay.
If I'm anywhere near what you mean, I like it.
JL

This is not like there are some distinct phases: first everyone sends money, then we select masternodes. No, it is a continuous process, you look at what amounts current masternodes have, you see that the top masternode has 1500 SPR and the bottom one has only 1200 SPR, you put, say, 1300 SPR to your masternode, you will be added to the list of masternodes, the bottom masternode will be excluded and others will be unaffected.

YES YES YES!

Wouldn't the price of having a masternode keep going up then?

Mr. Spread, also would we be able to add some coins to our masternode after it has gone live to keep it in the game?

That's how you a) keep SPR in demand and b) theoretically make it too expensive for 'nefarious parties' to monopolize the entire network with their masternodes which could give them the ability to 'de-anonymize' the entire network.

[MyFarm]

The more I think about this, the more excited I'm getting.  Some benefits (please add to the list or disagree with my thoughts):

1.  You don't have to worry about diminishing ROI (Return on Investment) as more masternodes come online as you know the max number of masternodes and as long as you stay active, you get that ROI %.

2.  Most masternode owners won't spend their SPR they earn via their masternodes as that would make them less competitive.

[Mr. Spread]

Wouldn't the price of having a masternode keep going up then?

Yes, it will until it will reach some market-dictated price. In fact it is not a "price" because you don't loose your money, you just can't use them as long as you are running the masternode.

Mr. Spread, also would we be able to add some coins to our masternode after it has gone live to keep it in the game?

The way I'm implementing it right now, you will need to resend you funds (with some additional amount of course) to yourself. So you will need to shutdown your masternode and then start it again. This has the disadvantage that you will not receive payments for some time because there will be some period before your masternode will be elected again after shutdown.