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

[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Neither the Trade tab nor the in-wallet encrypted messaging is yet fit to be seen in public so they remain unpublished for the time being ...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!

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[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!

[e1ghtSpace]

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?

[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.

[Jeff8247]

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

[defunctec]

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.

If you could pull that off i would be personally overwhelmed. Digital cash must have an equally anonymous (optional) way to send a msg.

It's naive to think we can use ecash over the internet now and stay anon. If you want to buy a laptop with "Spreadsend"or"Darksend" you have to input your personal details over the internet, which then tells the world your address, name, payment method.

We shouldn't underestimate the importance of an encrypted msg attached to a transaction.

If this is to be done, after "Spreadsend" is implemented would be perfect!

[gjhiggins]

Kudos to you working on all this!

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

Thanks for the kind words but 'sno big deal, I'll give you a summary preview: some eye candy, plus a nothing-special, slightly buggy implementation of a primitive IRC terminal that no-one would choose over an actual IRC messaging app.

The fact that the trading tab is limited to Bittrex cuts across the principle of decentralisation and a cool appraisal leads me to conclude that it hardly justifies the effort of including it, (I was really just checking its ease-of-use).

And, as I suspected, the encrypted in-wallet messaging uses the block chain so a hard fork will be required. Is the argument for in-wallet encrypted messaging sufficiently compelling to justify the cost of a hard fork and a permanent inflation of the block chain?

Cheers

Graham

[MyFarm]

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

Let's say day 1 you have to have just 50 SPR to have a masternode and there is a max number of 2000 masternodes.  That means it would only take 100,000 SPR to hit the max masternode cap so it would theoretically be hit quickly.  As a masternode owner, let's say you also get 50% of a block's rewards.  It literally may be worth my time to setup 100 masternodes because of the ROI.  Once the 2000 max is hit, other people will still want masternodes so the market may dictate that now you have to have 62 SPR for a masternode.  So more SPR are taken out of circulation and the network will likely become even more decentralized because not as many people will be able to afford to run 100 masternodes at 62 SPR per node.  Next thing you know, it's 150 SPR per masternode.  Then 500.  What will the max be?  Who knows.  Only the market.  And in the end, the market is much smarter than an arbitary number.

[Cryptock]

Anything new apart from the no pool?

[georgem]

Guys i don't mean to ruin your party but wouldn't NOT setting a limit for SPR to have a masternodes be a detriment to the network?

I mean with DRK coin masternodes are easy, you have 1000 coins and you have a masternode, combined with everyone you have a total of say 1500-2000 masternodes on the whole network. With SPR's solution you may have waaaaay less masternodes say if you require 2500+ SPR to be on the masternode list. So what i'm saying is wouldn't there more likely be less masternodes therefore less decentralisation?

I guess there could be a hard limit on minimum and maximum number of masternodes to avoid this?

Please advise if i am way off.

The maximum amount of DM will correlate with the maximum amount of nodes tolerable before the data bloat they create starts messing up the network, AND NOTHING ELSE.
Not sure how this can be detected though...

[MyFarm]

Anything new apart from the no pool?

A truly brilliant dev who has proven his ability by finding multiple bugs/vulnerabilities in Darkcoin code (which Spreadcoin is based upon).  He is now IMPROVING upon the Darkcoin masternode system.

Basically, I'm investing in SPR in part because of the potential that it will be superior to Darkcoin.  And because I am trusting more and more in the brilliance of this developer.  He has coding skills, is ethical, and creative.

[Jeff8247]

Okay thanks for the update guys. I guess i'll have to keep my eye on what Mr. Spread comes up with in regards to masternodes.

[Jesse Livermore]

Anything new apart from the no pool?

A truly brilliant dev who has proven his ability by finding multiple bugs/vulnerabilities in Darkcoin code (which Spreadcoin is based upon).  He is now IMPROVING upon the Darkcoin masternode system.

Basically, I'm investing in SPR in part because of the potential that it will be superior to Darkcoin.  And because I am trusting more and more in the brilliance of this developer.  He has coding skills, is ethical, and creative.

From here (https://bitcointalk.org/index.php?topic=715435.msg10076304#msg10076304) to present is pure crypto-gold.

[Jesse Livermore]

We're on BitTrex's Page 1 listing by volume for the first time. 


More and more people are coming to this thread, volume just keeps trending up.

3800 SPR away from a new all-time high, which this new masternode idea of Mr. Spread's deserves AT THE LEAST.
This should be a $1 mill coin in the short-term with this new take on masternodes alone.
JL

[georgem]

Is the argument for in-wallet encrypted messaging sufficiently compelling to justify the cost of a hard fork and a permanent inflation of the block chain?

Ofcourse not.

But who knows, maybe Mr. Spread has got some sort of craaaazy new fork system in preparation...  

Not like darkcoin's spork which is the most centralized way of forking thinkable (giving ONE man control over an enforcement mechanism),
imagine what a decentralized forking system would look like. 

My mind is boggling...

All the Decentralization makes my head spin, I need to lie down.

[NoobKidOnTheBlock]

We're on BitTrex's Page 1 listing by volume for the first time. 


More and more people are coming to this thread, volume just keeps trending up.

3800 SPR away from a new all-time high, which this new masternode idea of Mr. Spread's deserves AT THE LEAST.
This should be a $1 mill coin in the short-term with this new take on masternodes alone.
JL

All I can say after reading the last few pages is that I'm so happy that I have invested in this coin and like I've stated before THIS IS THE COIN for 2015! Anyone who can't see that with how Mr. Spread is planning on implementing the future features just doesn't want to make money then I guess But I have to say I am completely blown away by the continuing growth of SPREADERS and the continuing innovation from our spectacular developer Mr. Spread my hats off to you good sir Keep up the absolutely amazing work