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

[minerpage]

Is this chart correct? The 21% part of it...

Edit: if correct then 21% of 4GH/s is 800MH/s which is pretty big for solo mining it seems... unless I'm missing something...

You understand the graph wrong. This is a all-time graph, not current miners!

The top miner (SNYqc..) mined they blocks in the past. And this 21% is from the displayed miners. If we compare him to all miners, they mined only the 1.7% of all blocks. (3789/218427*100). The tenth miner (SaK77W2..., ) own only 0.2% of all blocks. And others mined the other 91.7% of all blocks. If i display this, the graph will be malformed and ugly.

(miners = addresses is coinbase tx!)

Thx for the clarification

[MyFarm]

I think giving up more then 5% of the block reward to the "foundation" is way too much. I would definately support 1%

How about 0%, because everything else goes against decentralization?

Is it just that you guys don't understand decentralization, or that you don't particularly like it? Or don't see any value in it?

Listen, it's not negotiable!  

Throwing our principles out of the window at the first opportunity or what?

Has bitcoin ever seriously considered such "foundation block rewards" ?

No. Do a hell of a lot of "shitcoins" discuss and embed them?

Yes.

Maybe I don't understand decentralization.  How is a percentage of SPR going to a business development fund centralization but a percentage of funds going to masternode owners not?

[MyFarm]

I think giving up more then 5% of the block reward to the "foundation" is way too much. I would definately support 1%

How about 0%, because everything else goes against decentralization?

Is it just that you guys don't understand decentralization, or that you don't particularly like it? Or don't see any value in it?

Listen, it's not negotiable!  

Throwing our principles out of the window at the first opportunity or what?

Has bitcoin ever seriously considered such "foundation block rewards" ?

No. Do a hell of a lot of "shitcoins" discuss and embed them?

Yes.

Case closed.

I agree, sod all of this 5% to the dev fund! If you want to help the Dev, donate directly to his wallet.
Nothing should be coded to accommodate this! No matter how much i want to see SPR succeed!

I hope MrSpread has a reasonable stash of SPR that will increase in value over time, then he can personally keep himself going.

When I speak of a, "Development fund" I do not speak of the money going to Mr. Spread.  This would be a business development fund that could be utilized for anything from raising capital by doing private coin placements with accredited investors to hiring top of the line marketing teams to bringing on additional developers to acquiring other coins.  It provides all sorts of leverage and ability for Spreadcoin in a highly competitive environment.

It removes the, "Hope" that you will have the necessary and highly skilled/sought after individuals with coding, marketing, and business development backgrounds not only invest in SPR, but also be willing to, and have the time to volunteer for its' betterment.

[defunctec]

I think giving up more then 5% of the block reward to the "foundation" is way too much. I would definately support 1%

How about 0%, because everything else goes against decentralization?

Is it just that you guys don't understand decentralization, or that you don't particularly like it? Or don't see any value in it?

Listen, it's not negotiable!  

Throwing our principles out of the window at the first opportunity or what?

Has bitcoin ever seriously considered such "foundation block rewards" ?

No. Do a hell of a lot of "shitcoins" discuss and embed them?

Yes.

Case closed.

I agree, sod all of this 5% to the dev fund! If you want to help the Dev, donate directly to his wallet.
Nothing should be coded to accommodate this! No matter how much i want to see SPR succeed!

I hope MrSpread has a reasonable stash of SPR that will increase in value over time, then he can personally keep himself going.

When I speak of a, "Development fund" I do not speak of the money going to Mr. Spread.  This would be a business development fund that could be utilized for anything from raising capital by doing private coin placements with accredited investors to hiring top of the line marketing teams to bringing on additional developers to acquiring other coins.  It provides all sorts of leverage and ability for Spreadcoin in a highly competitive environment.

In 5 years SPR marketcap is $20billion.

Alot has happened, and SPR is best coin out there.

MrSpread has left development and abandoned ship.

The "dev fund" continues to accumulate funds (and alot of them).

We cannot contact MrSpread.

We cannot shut down the dev fund, as it's hard coded.

What do we do?

[MyFarm]

I think giving up more then 5% of the block reward to the "foundation" is way too much. I would definately support 1%

How about 0%, because everything else goes against decentralization?

Is it just that you guys don't understand decentralization, or that you don't particularly like it? Or don't see any value in it?

Listen, it's not negotiable!  

Throwing our principles out of the window at the first opportunity or what?

Has bitcoin ever seriously considered such "foundation block rewards" ?

No. Do a hell of a lot of "shitcoins" discuss and embed them?

Yes.

Case closed.

I agree, sod all of this 5% to the dev fund! If you want to help the Dev, donate directly to his wallet.
Nothing should be coded to accommodate this! No matter how much i want to see SPR succeed!

I hope MrSpread has a reasonable stash of SPR that will increase in value over time, then he can personally keep himself going.

When I speak of a, "Development fund" I do not speak of the money going to Mr. Spread.  This would be a business development fund that could be utilized for anything from raising capital by doing private coin placements with accredited investors to hiring top of the line marketing teams to bringing on additional developers to acquiring other coins.  It provides all sorts of leverage and ability for Spreadcoin in a highly competitive environment.

In 5 years SPR marketcap is $20billion.

Alot has happened, and SPR is best coin out there.

MrSpread has left development and abandoned ship.

The "dev fund" continues to accumulate funds (and alot of them).

We cannot contact MrSpread.

We cannot shut down the dev fund, as it's hard coded.

What do we do?

Order tons of hookers and blow.

In seriousness, the development fund guards against that.  It reduces some of the risk that Jessee Livermore wrote so well about.  Let's say Mr. Spread, god forbid, gets hit by a bus, there are other developers and funds available so that the coin can continue being developed.  If at some point it is determined that the fund is no longer needed or can be reduced, the code can be updated. 

The actual fund wouldn't be run solely by Mr. Spread.  It would be overseen by a group of individuals, one of whom would no doubt be Mr. Spread.

I'd like to reiterate once again that I respect that this is Mr. Spreads coin and all this is, is my putting forth an idea for the coin's betterment.  If Mr. Spread has no interest, it's all good.

[DavidR]

At first I didn't like myfarms proposal of a masternode ranking algorithm that took into account ISP instead of just number of SPR.  But after reading this, i'm liking the idea more --

https://twitter.com/petertoddbtc/status/554005770493521920

Peter Todd: "With Bitstamp on Amazon AWS, there's a high probability that some Three Letter Agency has a copy of their databases; expect zero privacy."

Aren't most of DRK Masternodes on Amazon AWS?  

16% give or take.

[thelonecrouton]

I think giving up more then 5% of the block reward to the "foundation" is way too much. I would definately support 1%

How about 0%, because everything else goes against decentralization?

Is it just that you guys don't understand decentralization, or that you don't particularly like it? Or don't see any value in it?

Listen, it's not negotiable!  

Throwing our principles out of the window at the first opportunity or what?

Has bitcoin ever seriously considered such "foundation block rewards" ?

No. Do a hell of a lot of "shitcoins" discuss and embed them?

Yes.

Case closed.

I agree, sod all of this 5% to the dev fund! If you want to help the Dev, donate directly to his wallet.
Nothing should be coded to accommodate this! No matter how much i want to see SPR succeed!

I hope MrSpread has a reasonable stash of SPR that will increase in value over time, then he can personally keep himself going.

When I speak of a, "Development fund" I do not speak of the money going to Mr. Spread.  This would be a business development fund that could be utilized for anything from raising capital by doing private coin placements with accredited investors to hiring top of the line marketing teams to bringing on additional developers to acquiring other coins.  It provides all sorts of leverage and ability for Spreadcoin in a highly competitive environment.

In 5 years SPR marketcap is $20billion.

Alot has happened, and SPR is best coin out there.

MrSpread has left development and abandoned ship.

The "dev fund" continues to accumulate funds (and alot of them).

We cannot contact MrSpread.

We cannot shut down the dev fund, as it's hard coded.

What do we do?

Nonsense: multi-sig addresses, and anything 'hard-coded' can be changed, it's a git repo not the unalterable Word of Dog.

Investment means having a plan, and having the resources to carry it out.

[MyFarm]

At first I didn't like myfarms proposal of a masternode ranking algorithm that took into account ISP instead of just number of SPR.  But after reading this, i'm liking the idea more --

https://twitter.com/petertoddbtc/status/554005770493521920

Peter Todd: "With Bitstamp on Amazon AWS, there's a high probability that some Three Letter Agency has a copy of their databases; expect zero privacy."

Aren't most of DRK Masternodes on Amazon AWS?  

16% give or take.

Yep.  For those that want decentralization and more security, it makes a lot of sense in my mind.

[MyFarm]

Investment means having a plan, and having the resources to carry it out.

Exactly.  Having the resources to carry it out is huge.  At some point larger, sophisticated investors are going to be looking at SPR.  They will want to see a gameplan and the means to implement that gameplan.  If the gameplan contains, "We'll develop X when an additional competent developer volunteers their time and market to Y when a good marketer volunteers their time" then that investor will likely head elsewhere.  But if that investor sees that Spreadcoin has planned ahead and that it has the means to bring such people to the team because it was smart enough to establish a fund, then they will dig deeper and kick the tires some more.

"Good technology/lead developer AND business sense?  Interesting, I need to learn more..."

[thelonecrouton]

At first I didn't like myfarms proposal of a masternode ranking algorithm that took into account ISP instead of just number of SPR.  But after reading this, i'm liking the idea more --

https://twitter.com/petertoddbtc/status/554005770493521920

Peter Todd: "With Bitstamp on Amazon AWS, there's a high probability that some Three Letter Agency has a copy of their databases; expect zero privacy."

Aren't most of DRK Masternodes on Amazon AWS?  

16% give or take.

The trouble with a ranking algo is that it will almost certainly be possible to game it, and it's going to be difficult to come up with a 'fair' set of conditions and weightings.

Far simpler and less overhead to just limit the number of Masternodes on any given IP subnet.

Code:

if (adding this MN exceeds the max allowed 5% on this subnet):
     display error: "There are too many Masternodes on <name of provider>, please choose another provider for the security of the network."
     exit
else:
     accept new Masternode

edit: it would be really nice to also have a Masternodes tab in the wallet, displaying MN count and distribution.  (hint hint gjhiggins - you seem pretty nifty with c++/QT.  )

[daddeo]

Investment means having a plan, and having the resources to carry it out.

Exactly.  Having the resources to carry it out is huge.  At some point larger, sophisticated investors are going to be looking at SPR.  They will want to see a gameplan and the means to implement that gameplan.  If the gameplan contains, "We'll develop X when an additional competent developer volunteers their time and market to Y when a good marketer volunteers their time" then that investor will likely head elsewhere.  But if that investor sees that Spreadcoin has planned ahead and that it has the means to bring such people to the team because it was smart enough to establish a fund, then they will dig deeper and kick the tires some more.

"Good technology/lead developer AND business sense?  Interesting, I need to learn more..."

Excellent insight! I'm not sure how one would best implement this plan of action that would be fair to all parties, but the idea is sound in my humble opinion.

[e1ghtSpace]

At first I didn't like myfarms proposal of a masternode ranking algorithm that took into account ISP instead of just number of SPR.  But after reading this, i'm liking the idea more --

https://twitter.com/petertoddbtc/status/554005770493521920

Peter Todd: "With Bitstamp on Amazon AWS, there's a high probability that some Three Letter Agency has a copy of their databases; expect zero privacy."

Aren't most of DRK Masternodes on Amazon AWS?  

16% give or take.

The trouble with a ranking algo is that it will almost certainly be possible to game it, and it's going to be difficult to come up with a 'fair' set of conditions and weightings.

Far simpler and less overhead to just limit the number of Masternodes on any given IP subnet.

Code:

if (adding this MN exceeds the max allowed 5% on this subnet):
     display error: "There are too many Masternodes on <name of provider>, please choose another provider for the security of the network."
     exit
else:
     accept new Masternode

edit: it would be really nice to also have a Masternodes tab in the wallet, displaying MN count and distribution.  (hint hint gjhiggins - you seem pretty nifty with c++/QT.  )

That'd be really cool. I totally would like to see that implemented into the wallet.

[MyFarm]

At first I didn't like myfarms proposal of a masternode ranking algorithm that took into account ISP instead of just number of SPR.  But after reading this, i'm liking the idea more --

https://twitter.com/petertoddbtc/status/554005770493521920

Peter Todd: "With Bitstamp on Amazon AWS, there's a high probability that some Three Letter Agency has a copy of their databases; expect zero privacy."

Aren't most of DRK Masternodes on Amazon AWS?  

16% give or take.

The trouble with a ranking algo is that it will almost certainly be possible to game it, and it's going to be difficult to come up with a 'fair' set of conditions and weightings.

Far simpler and less overhead to just limit the number of Masternodes on any given IP subnet.

Code:

if (adding this MN exceeds the max allowed 5% on this subnet):
     display error: "There are too many Masternodes on <name of provider>, please choose another provider for the security of the network."
     exit
else:
     accept new Masternode

edit: it would be really nice to also have a Masternodes tab in the wallet, displaying MN count and distribution.  (hint hint gjhiggins - you seem pretty nifty with c++/QT.  )

That'd be really cool. I totally would like to see that implemented into the wallet.

Agreed.  I'd be willing to contribute to a bounty fund when the time comes.

[Mr. Spread]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

[shojayxt]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

As you should be.

Foundation = centralization

Centralization:

The concentration of administrative power in a central government, authority, etc.


You've decentralized the mining aspect of the coin by negating the mining pools.  No need to change that mindset with other aspects of the coin.

[NoobKidOnTheBlock]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

Very well put Mr. Spread You definitely know what needs to be done with this coin and continually keep proving that you are in this for the long haul and I'm very glad to have stumbled upon this nice "SPREAD" I can't wait to hear updates on the latest features that you will be launching for this fantastic coin Cheers

[Gladimor]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

Well said, Mr. Spread I'm fairly certain that once SpreadCoin goes mainstream, the donations will come flowing in, to make SpreadCoin even better. Look at Monero's development team, for example; they have received around 50 BTC in donations last year.

I've been silently following SpreadCoin since November last year, and must say that SpreadCoin is basically what Satoshi Nakomato wanted BitCoin to be- fully decentralised, without pools. If anything, this coin is going to be big

[MyFarm]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

Fair enough.  My suggestion would be for you to start an address now that we can send coin to.  It's much easier to talk people into donating when the coin is in its early stages like Spread is.

A good initial war chest would be $1,000,000.  Looking at a forward valuation of $10.00 per coin (I hope for SPR to go well beyond that) that means 100,000 SPR.

If you setup an address, I will donate the first 1,000 SPR and once 75,000 SPR are donated, I will donate an additional 25,000 to bring it up to 100,000.

[NoobKidOnTheBlock]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

Fair enough.  My suggestion would be for you to start an address now that we can send coin to.  It's much easier to talk people into donating when the coin is in its early stages like Spread is.

A good initial war chest would be $1,000,000.  Looking at a forward valuation of $10.00 per coin (I expect SPR to go well beyond that) that means 100,000 SPR.

If you setup an address, I will donate the first 1,000 SPR and once 75,000 SPR are donated, I will donate an additional 25,000 to bring it up to 100,000.

Geez someone has got a stash of SpreadCoin going on I can't wait to get some more BTC so I can purchase some more at these prices I'm definitely in this coin for the long haul without a doubt

[thelonecrouton]

I'm against giving part of the block reward to any foundation, this is like premine. No matter how transparent it would be it would still look unfair to many people. The better way is donating.

Fair enough.  My suggestion would be for you to start an address now that we can send coin to.  It's much easier to talk people into donating when the coin is in its early stages like Spread is.

A good initial war chest would be $1,000,000.  Looking at a forward valuation of $10.00 per coin (I expect SPR to go well beyond that) that means 100,000 SPR.

If you setup an address, I will donate the first 1,000 SPR and once 75,000 SPR are donated, I will donate an additional 25,000 to bring it up to 100,000.

MyFarm doesn't mess about.

I'll promise 500.