[ANN][CRW] CROWN (MN-PoS) | Platform | NFT framework | Governance | Masternodes

[defunctec]

Welcome MergeMining.com to our list of pools.

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[crowncoin_knight]

Conf call of the core dev team will take place today at 19:00 GMT. Major decisions regarding first set of white papers about our vision will be primarily discussed. Update of our community will come soon.

Infernoman is proceeding with latest core BTC and Dash updates very well. We believe we will be ready to release as planned.

[crowncoin_knight]

Net. hashrate moving up again: 1329.65 TH/s

[defunctec]

Great little meeting with 'crowncoin_knight and stonehedge'.

Cleared a few things up on how we're going to release the 3 part white paper.

More info coming soon!

Edit: Still waiting to have a discussion about the coming 10% governance fund.
We in the team (community) agreed to 45% Miners 45% Thrones and 10% fund
to allow infernoman to get the ball rolling on core updates.

Our reasoning for these %s is that Thrones have provided a huge boost to current/future
development. Thrones are going to be the focus of development in 2017, mining i'm
sorry to say will play less and less of a factor in Crown. We see it as 'fair' that Thrones
get more of the coinsbase reward.

Also, mining is relative. If we lower the reward, the amount of hash should go down, making it easier to mine.
Crown is merge mined, most of our miners mine by proxy and don't really care what the coinbase reward is.

[Gash]

Im eager to know more about u. What secret do u hide between ur asscheeks? Suppose ur pool request get merged and u start to collect investors attention, what would u focus on once u've accomplished dumb goals outlined in ur whitepaper?

[defunctec]

Im eager to know more about u. What secret do u hide between ur asscheeks? Suppose ur pool request get merged and u start to collect investors attention, what would u focus on once u've accomplished dumb goals outlined in ur whitepaper?

Sorry, I couldn't find a question amongst all the abuse.  

[IconFirm]

most of our miners mine by proxy and don't really care what the coinbase reward is.

You think?

So I was right, you're gonna fuck your miners over again.

Miners got this coin started.

Miners built the infratructure & gave CRW a stable base.

Without miners, CRW would have died a long time ago - despite c_K's self buying/selling.

What happens?:

Miners lost 40% income.

Miners are gonna lose another 10%.

This coin is turning into a dash wannabe.

Give all the rewards to masternodes - screw the miners who are the backbone, generate income & helped build this coin.

Join up with the 100's of other POS coins & go nowhere.....

Dump incoming.....

[defunctec]

most of our miners mine by proxy and don't really care what the coinbase reward is.

You think?

So I was right, you're gonna fuck your miners over again.

Miners got this coin started.

Miners built the infratructure & gave CRW a stable base.

Without miners, CRW would have died a long time ago - despite c_K's self buying/selling.

What happens?:

Miners lost 40% income.

Miners are gonna lose another 10%.

This coin is turning into a dash wannabe.

Give all the rewards to masternodes - screw the miners who are the backbone, generate income & helped build this coin.

Join up with the 100's of other POS coins & go nowhere.....

Dump incoming.....

If your mining crown directly and not via Bitcoin, your losing out big time, are you saying you mine it directly? Clearly you dont, you merge mine it.

Sorry our development is going to cut into your dumping profits. Maybe if you kept some of the Crown you mined over the years instead of dumping them all on me and cck you just may have liked the future development we have planned.

Also, miners lost 40% and the price went up too... around 800%... So you actually should be making more $$. We propose lowering miner reward to 45%, but this will attract even more people here, and have a positive effect on the price.

[urban_idler]

Worth talking about mining.  Miners do secure the blockchain, and provide a valuable service.

But in Satoshi's original system mining served to secure the chain and also distribute coins to new users.  Miners now are normally not the new users because of how mining was "professionalized" and largely concentrated.  In this light, mining is actually a failure.  Mining failed to continue building the community around coins because of how it developed.

So if a coin wants to evolve and respect the original vision of a growing community, what to do?

Well -- Dash introduced some innovations including the masternodes and instantx (which resembles zookeeper and other quorum structures at the core of everything in distributed computing).  The masternodes introduce a server tier at which one can offer services and also use POS to secure the chain.  In order to build in this layer -- the Crown team shifted the rewards away from miners and by building the community the value of the coin increased.

Now another shift in rewards is being contemplated.  And it's perfectly valid to ask why?

The reason is simple (as I understand it) -- the team would like to have a funding mechanism for the development fund which does not require outside contributions.  By shifting rewards into the development fund it creates a sustainable structure where developers can be paid from the dev fund as the capabilities of the platform are built.  This sort of funding structure is intended to help protect the community from corporate capture if the coin becomes successful.  If it doesn't then we were wrong and we screwed up.

The rewards to the thrones are also proposed to be slightly increased.  This just improves the profitability of the thrones during the development period. 

As far as the long term role of mining in the coin economy and in the context of Crown -- this is what we need to be able to have a constructive discussion about.  I found the coin as a miner initially - so I see the value of mining -- but I also stopped mining because of the waste involved with it and also the because of the extraordinary concentration of the mining industry which is a real long-term problem we all have to confront.

I don't have an answer to all this -- but I do think that what the team is doing is actually quite distinct. 

As far as dumping goes -- if you want to that's fine.  You have to make your own decisions, but as Defunctec mentions -- there is another option.  You can evolve with the system and hold onto mining rewards and use them to set up thrones/nodes and over time become an application service provider.  The idea is for the thrones to be able to generate revenues from providing compute resources and validation services to applications.  This isn't that complicated when one realized that a blockchain is actually a public key infrastructure.

Within the application layer a key idea which no one seems to be working with is that not everything should be permanent. Some activity is temporary or ephemeral.  So one could build an application layer, linked with a blockchain, which was designed for security and forgetting.

If the platform has an application layer for developers -- then the Crown Network could actually just set the platform fees at a utility level and let the application developers profit -- rather than raking them.  The only requirement might be that the projects have to be open source to run on the platform.  But then you can have an app store that's about the developers as long as they are developing open source... and note that this isn't anything trying to run on the block chain - but just on resources secured by the keys in the chain, and paid for by tokens on the chain...

And there are several other angles... So that's what's being worked on -- a Crown enabled world of open source applications running with some link to the server nodes. 

This feels different than Dash. 

To help set up a structure to fund this vision, the proposal is to shift 10% of the rewards to the Dev Fund and an incremental 5% of the rewards to the Throne Nodes, reducing the Miner payments by 15%.  This seems reasonable.

The hope would be that the miners would get interested in how the nodes will work, and continue to grow and develop with the Crown community - not that they become alienated.  But part of what is also being clearly signaled is that mining will be progressively less and less important to the network as the application/server layer grows.  This is a strategic decision, and it may not happen -- but I respect the team for signaling the shift despite the certainty of blowback.

The only thing standing still as coin gets you is death -- and odds are that if you try anything interesting you get killed too.  And plenty of folks just seem to like to throw insults.  So it's no surprise to me that the coin economy has generated much less in terms of innovation that the revolutionary technology it is working with should have.  The lack of successful innovation is linked to the lack of civil discourse and constructive problem solving in the community. 

Crown just hopes to find a few people who are interested in this vision, and then a few more and just to make progress that way.  Despite the colorful comments, this is what has been happening and what is likely to continue to happen if the team stays focused on delivering and communicating.  There are fascinating and useful problems to be solved.  If folks are interested in solving important problems in collaboration with a pragmatic team or starting their own software business on a new platform -- think about getting in touch with the Crown team. 

[stonehedge]

most of our miners mine by proxy and don't really care what the coinbase reward is.

You think?

So I was right, you're gonna fuck your miners over again.

Miners got this coin started.

Miners built the infratructure & gave CRW a stable base.

Without miners, CRW would have died a long time ago - despite c_K's self buying/selling.

What happens?:

Miners lost 40% income.

Miners are gonna lose another 10%.

This coin is turning into a dash wannabe.

Give all the rewards to masternodes - screw the miners who are the backbone, generate income & helped build this coin.

Join up with the 100's of other POS coins & go nowhere.....

Dump incoming.....

There isn't any room for yet another DASH wannabe in this market.  That would be a tremendous waste of our time and money.

Sorry to see that you are selling.  Check in now and again to see what we are delivering. All the best.

[stonehedge]

Im eager to know more about u. What secret do u hide between ur asscheeks? Suppose ur pool request get merged and u start to collect investors attention, what would u focus on once u've accomplished dumb goals outlined in ur whitepaper?

Sorry, I couldn't find a question amongst all the abuse.  

I wouldn't take it personally, take a look at his post history.  Seems to be pretty angry with the world.

[stonehedge]

Just a quick heads up.

I posted a few days ago that we would be releasing the whitepapers in "a few days".  After our meeting yesterday we have decided to release the first whitepaper to coincide with the publishing of our new web site and to be closer to the new wallet release.  This means that they will be released in two to four weeks so that we can maximise their impact.  We want as may people as possible to read and talk about what we are doing.

A delay is quite a good thing actually as we are still waiting for peer review from one more team member.  Would be wrong to release without his input.

Sorry for setting an unrealistic timescale.

[stonehedge]

I'm delighted to announce that testing of the new release including Bitcoin Core updates and improvements to the service network has begun.

[defunctec]

I'm delighted to announce that testing of the new release including Bitcoin Core updates and improvements to the service network has begun.

infernoman is gracefully hopping over all the obstetricals I keep throwing his way.
At this rate, we'll be ready in no time!

[stonehedge]

I'm delighted to announce that testing of the new release including Bitcoin Core updates and improvements to the service network has begun.

infernoman is gracefully hopping over all the obstetricals I keep throwing his way.
At this rate, we'll be ready in no time!

Infernoman is pregnant?!

[crowncoin_knight]

I'm delighted to announce that testing of the new release including Bitcoin Core updates and improvements to the service network has begun.

infernoman is gracefully hopping over all the obstetricals I keep throwing his way.
At this rate, we'll be ready in no time!

Infernoman is pregnant?!

   no time for having kids now  

[defunctec]

I'm delighted to announce that testing of the new release including Bitcoin Core updates and improvements to the service network has begun.

infernoman is gracefully hopping over all the obstetricals I keep throwing his way.
At this rate, we'll be ready in no time!

Infernoman is pregnant?!

Yep, he's ready to give birth to his baby, he calls it "Core Updates".

[infernoman]

Hey guys if you have a chance we're looking to get Crown added as one of the Auxpow coins on slushpool. Currently there is over 300th/s dedicated to the proposal. And we would welcome any extra help from the community as well.
https://slushpool.com/proposal/detail/597/

[defunctec]

Hey guys if you have a chance we're looking to get Crown added as one of the Auxpow coins on slushpool. Currently there is over 300th/s dedicated to the proposal. And we would welcome any extra help from the community as well.
https://slushpool.com/proposal/detail/597/

It seems peercoin has been on slushpool voting for ages. Surly they will be added sooner?

[infernoman]

Hey guys if you have a chance we're looking to get Crown added as one of the Auxpow coins on slushpool. Currently there is over 300th/s dedicated to the proposal. And we would welcome any extra help from the community as well.
https://slushpool.com/proposal/detail/597/

It seems peercoin has been on slushpool voting for ages. Surly they will be added sooner?

Peercoin is not mine-able through auxpow like crown is the person who created the proposal probably was not aware of that and the person that approved the proposal should've denied it

That and we've been slowly gaining on them in total votes, points, and hashrate.