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[thelonecrouton]

So there are masternodes and bank nodes? Or just bank nodes which require 250k?

The latter.

[tombtc]

With just 6 000 000 coins in circulation there can only be 24 bank nodes. Seems not many?

[tommyj1]

"networkhashps" : 12570

it was 6 hours ago:

"networkhashps" : 6058

 

it have gone from 5000-8000 the past days to 12000 and the diff is up alot, its getting harder to find blocks,

[thelonecrouton]

With just 6 000 000 coins in circulation there can only be 24 bank nodes. Seems not many?

More reward per BN. 

[dbt1033]

With just 6 000 000 coins in circulation there can only be 24 bank nodes. Seems not many?

That's on purpose.  

A bank node can generate significant income, but requires a dedicated user to operate.

The purpose isn't to have 1,000 crappy banks with no capital.  

There will be a handful of banks to begin with and later on, maybe 100's.  This insures quality services.

[wasref]

Do you have a whitepaper where i can read everything about the bank nodes, requirements how long it needs to be held what your trying to achieve thanks. my previous comments were based on what i read in thread i do still think i am right but like to be sure

Ah, not my forte. I have been asking community members to put together information, i have posted bounties and done all i can manage.

I can give you a short version, but tbh i'd rather a more experienced writer do a full write up.


So....

The premise is simple.... we now have tons of currencies, but no real financial tools and services. This is a huge gap that needs filling and i have decided to step up to the task and try making it a reality.

My goals in succession were as follows

1) Create a viable currency as a base currency for all transactions.

2) Integrate financial services and tools one at a time to meet industry demands

3) Introduce a consensus system that governs Blockchain Financial Institutions by way of democratic vote

4) Implement an Asset issuing facility on the blockchain that runs concurrently with BCR... meaning that people can issue stocks in their companies/ventures/banks right on the blockchain and transfer them as required.

5) Create a incubator for ideas, internal and external whose profits are brought into the BCR ecosphere  thereby proving funding, profit and enterprise for all participants.


there was a white paper, an abject failure because my ideas evolve daily and it just could not get across ideas I want to express.

ok i give my response based on what i know. correct me if i'm wrong.

your coin profits are more built on cutting supply thus pushing the price thus giving good returns. i am not sure if its true but you said youl need to hold nodes for 6 months. say someone has bought 250k nodes now coming to end of 6 months those shares are now worth 10k sats each. making it worth 25btc. that would mean 25btc dump coming. say they go to 100k making them worth 250btc. it can only go as high as a person is willing to pay it. now if someone buys 250k worth at 10k sats he would want to make a reasonable amount back weekly which is calculated to be 0.10-0.20btc right. now would that be worth it no. but you say supply will be cut and price will go high so profit is in the price moving higher if it doesn't no point.

now if price does move higher ofcourse those that hold will have higher stake but when that  6 months is over you have a huge amount to be dumped thus my reason for this not working as the price will stop climbing and then no one would want to be a node as the profit is to be made in the price movement.

before anyone says i am fudding, i am not. i am trying to understand the business model and hope it clears up for me.

[tokyoghetto]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

[wasref]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

[dbt1033]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node.  It requires a serious financial commitment.  

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

[dbt1033]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

What the hell are you talking about? 

[dbt1033]

I don't understand why you guys are complaining....


There are very good reasons for the steep buy in price for a bank node.


I'm sure a lot of people want a dash node too.  But just because you want one, doesn't mean it should be affordable to you.

[wasref]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

What the hell are you talking about? 

you do know what the bank node is for right? its not only to give fix amount weekly

[tombtc]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node.  It requires a serious financial commitment.  

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only give it to a few early adopters.

[dbt1033]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node.  It requires a serious financial commitment.  

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

Every month, an additional 2 million coins will be generated through proof of work.  This is enough for 8 more bank nodes per month.

[thelonecrouton]

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

This is nonsense. A BCR BN is 5X cheaper than a DRK MN. Early adopters take risks and (sometimes) reap rewards.

There's also this wonderful thing called co-operation:

Wanted: people willing to partner up at 25000BCR/stake to run a joint BN.  Please PM.

[dbt1033]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

What the hell are you talking about? 

you do know what the bank node is for right? its not only to give fix amount weekly

Bank nodes cannot manipulate the market.

Buying coins for bank nodes (and the reserves held within) helps create scarcity, increasing the value of all holder's coins.

[wasref]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node.  It requires a serious financial commitment.  

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

[wasref]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

that was also my concern when i addressed it as so little bank nodes they can easily manipulate the market and cause more damage than good. its the same system we have now as the one with money has the say. having a small user become a node it will bring these rich ones back to earth. i did tell this to dev but he said he didnt want the risk of a scam by allowing small fee.

but a scam can be done by big guys too, no matter the expense as long as it reels in a profit

What the hell are you talking about? 

you do know what the bank node is for right? its not only to give fix amount weekly

Bank nodes cannot manipulate the market.

Buying coins for bank nodes (and the reserves held within) helps create scarcity, increasing the value of all holder's coins.

i am not talking about the nodes manipulating the price, talking about the services the bank nodes will offer

[tokyoghetto]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node.  It requires a serious financial commitment.  

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

pretty much this. If there is only 6 million coins in circulation (another 6 in escrow), then only 24 bank nodes can exist (meaning all coins are locked into bank nodes, and none exist on exchanges).

24 bank nodes. Some people already own more than 1.

something doesn't seem right.

You guys mention that there was an IRC discussion about the amount needed to run a banknode, anyone have the transcript of that? How many people were involved in coming up with that decision?

[dbt1033]

what can Bank nodes do other than get weekly payments

cause liquidity squeezes. there will only be so many bank nodes operating, run by the few early adopters who got in early. These few bank nodes don't want competition, hence the 250k BCR requirement and the 6 month holding period.

As price increases, this will cause banknodes to be cost prohibitive and for existing bank nodes to price fix on their loans.

So much for quality service.

I paid over 5 btc for my bank node.  It requires a serious financial commitment.  

A dash masternode costs 20btc...

Cost prohibitive to you doesn't mean cost prohibitive to everyone else.

But Dash gives opportunity for a few thousands people to earn money daily. This one will only allow this to a few early adopters.

yes it only benefits early adopters, dash masternodes can be bought any time due to its low requirement doesn't matter the cost of buying its about availability too. 250k per node could lead it to costing 250btc for one node which will never happen because people will just not buy it. thus stopping the rise and releasing dumps once nodes are released and then as the profit is to be made from price increases the buying will stall

Dude you are comparing apples to oranges.

Bank nodes are supposed to be limited in number.  Having 2000 banks would completely ruin this idea.

Dash masternodes enhance the anonymity of the network, so the more the merrier.

And a Dash masternode requires 20 btc to purchase at these prices!!!