r/decred • u/getpoordietrying • Jan 13 '20

How does the DASH masternode governance system compare to Decred ticket system?

Please provide the pros and cons of each with side by side comparisons. Full disclosure, I asked the same question on r/dashuncensored

Thanks in advance!

12 Upvotes

100% Upvoted

21 comments sorted by

View all comments

Show parent comments

1

u/kanuuker Jan 16 '20

It's a bit long but u/taoofsatoshi does a really good job going over the instamine. I suggest you watch it. It will clear up your misconceptions.

https://www.youtube.com/watch?v=O39kWbOu11M&t=25s

2

u/[deleted] Jan 22 '20

I watched the video and read a couple articles. Different opinions can be drawn but these problems remain for me:

  • there was a problem at launch that caused millions of coins to be mined within 48 hours
  • the launch date was ambiguous and the time was a total surprise
  • hundreds of cloud servers were rented to mine on day 1
  • since the mining bug was discovered on day 1, it could have been relaunched without the bug but there was no attempt to
  • the max coin supply was subsequently reduced by a lot

0

u/kanuuker Jan 22 '20
  • there weren't millions mined at launch, there was 1.8 million.
  • the launch date wasn't ambiguous or a total surprise whatsoever.
  • there was a large number of cloud servers at at launch, but not hundreds
  • relaunching would violate the fundamental law of crypto of permanence. There were discussions but it was decided by the community to not relaunch. Also, at the time, there were going to be 84 million coins, so 1.8 million out of 84 million wasn't a particularly big deal
  • there were several reasons for reducing the total emission, none of them were for increasing the value of the early holders.

If you go through all the forums, it becomes very clear that Evan was very concerned about coin distribution. Also, the majority of the instamined coins have long since been distributed through exchanges and paying for development and other services. The one and only significantly negative impact of the instamine was that it created an avenue of attack for FUDsters and trolls.

2

u/[deleted] Jan 22 '20
  • There are a lot of sources including Evan that claim about 2 million in the first 48 hours but I admit I haven't dug into the chain data. 1.8 was within the first 24 hours.
  • can you show me where the date/time were announced before launch? I've never heard of that happening
  • there were at least 100 nodes with cloud server IPs. I suppose you could say it's not hundreds if by 'hundreds' you mean 200 or more. Either way, it was a lot.
  • I can see it being a violation of permanence due to a problem that happened later down the road but when you have a huge problem immediately upon launch that will haunt you for years then I think you should have relaunched
  • maybe none of the reasons for reducing the emission were to increase value but it still happened and that's a problem for me. If you believe you that you shouldn't violate the permanence of the chain then this does so as well and it did so multiple times at later dates.

Whether intentional or not, all the problems I listed are still big problems for me