Bitcoingold Masternode (mainstream adoption)


#1

(1)Nice suggestions kindly read all comments
https://twitter.com/areebakhan007/status/1010621467464216581

(2)Will there be bitcoingold masternode?
if there would have been masternode btg would have been sky rocketing
Suppose 1000 btg required for masternode. and thousands of people will buy.
1000*1000 1 million would be brought by people in less than a week and we will be in top 5 cryptos
Kindly discuss

(3) Its not about centralize even anyone in the world you or me even in home can run node.
Hope so after network upgrade you and you team will discuss any type of node of btg team choice to build BTG Masternode.
What are they offering for users to hold btg?? BIG QUESTION
As we know their are many fork coins but we need to be at top and offer something unique BTG masternode

(4)Right now i dont think so any exchange will add btg when it reaches high to 0.08 people will kill exchanges to add btg and COINBASE WILL BE forced by customers to add btg for trading

(5)dash have 4500 node people who are running masternode and also mining with x11 algo Checkout profit visit https://masternode.me/

(6) SIMPLE MATHS
if there would have been masternode btg would have been at the top of the game in crypto market.
Suppose 1000 btg required for 1 masternode and thousands of people will buy.
1000*1000 1 million would be brought by people in less than a week and these number will keep on rising and grow.
2000 node will be brought by people in a month and they will love to hold.
People will force exchanges with thousands of email bombard to start trading btg and all exchanges will start trading bitcoingold
All big exchanges will add btg for trading and coinbase, bitstamp , kraken will add bitcoingold
Right now with current conditions it is of $25 or less exchanges will never add bitcoingold and think of other forks that worth nothing.
We need bitcoingold masternode to be the number 1 coin.

(7) Btg masternode will at the top of the game.
3000 to 4000 nodes will be brought by people in a month and it will keep on increasing 1000 coin needed multiply by 3000 it will be 3 MIILION coin bought by people in a month.

IN THE LAST I WILL SAY THAT and Repeat it " Coinbase gdax kraken bitstamp will start trading of btg or cutomers will bombared with email to give btg to them. As it will worth 0.1 for sure"
we are hoping for btg masternode.

If you liked and want bitcoingold masternodes show your vote of confidence to team by liking and retweeting this post.


#2

What new service are you proposing for the masternodes to provide?

Masternodes get paid for the service they provide, not just for existing. They’re not supposed to be a way for reach people to collect money because they have money to stake a node.

Yes, it is about centralization. Masternodes have more power than other nodes; that is centralization. It may be a worthwhile trade-off, depending on what service the masternodes supply in the given design.

BTG’s intent is to be very similar to BTC, but with improved decentralization by making sure that anyone can mine without needing ASICs. Masternodes don’t improve decentralization, they centralize certain powers to the Masters.

Also, if it’s 1000 BTG for a Masternode most people in the world cannot afford one. Globally, 84% of people live on less than $20 per day.*

And the money to pay Masternodes comes out of the block rewards - which means less money for miners - which means fewer miners. You’re describing taking money away from miners to give it to Masternodes… and the Masternodes qualify to receive these funds because they provide what service? Or is it simply because they have enough money to stake a node.

Again, Masternodes may make sense for certain certain projects, but they need to be serving a purpose worth paying for, or else you’re just giving money to those who are already wealthy - which will tend to centralize the coin distribution.


#3

Actually, with a Masternode model, it’s much harder to argue that a token is not a Security, which makes it much harder to get listed with some of these Exchanges.

Right now, BTG is not a Security.


#4

Bitcoingold can provide many services like :
Instant send , privacy , coin mixing , Private send ,Instant transactions , A decentralized governance , A decentralized budgeting system ,
MASTERNODES CAN HELP TO VALIDATE all public transactions extremely fast by communicating each transaction across all nodes on the network to prevent double spending. @h4x3rotab
Bitcoingold can provide/offer multiple things in masternodes.

How masternodes will centralize?
Anyone in the world you or me even in home can run node.

MANY PEOPLE IN THE WORLD OWN LARGE AMOUNT OF BTC IN A WALLET IS THIS IS AGAINST DECENTRALIZATION?
Many anonymous coin have a team is this is against the anonymity of coin??
People buying and holding bitcoingold like bitcoin and other crypto and hold for it for masternode how this will centralize?
Many people own High amount of btg is this centralization?
Lightning network will run on some third parties nodes will it be against decentralization??

Hope so in the coming months bitcoingold will have smart contracts.
So, what is smart contract?
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties.

Bitcoingold can use masternodes for smartcontract to record and verify on all nodes and much more

I have provided much services suggestions that btg can provide.
Kindly offer multiple things in masternode
It will be one step forward to complete decentralization of bitcoingold and high and main stream adoption among all coin.


#5

Masternode is not a new idea but as you see, masternode coins didn’t save them when the market is crashing.

The naive masternode is not suitable for our vision and the current situation. Subsiding masteernodes by hurting the miner won’t actual help in any way. Another idea is to provide service to the network by collecting fee. Some of the services mentioned above can be achieved by this way. I highly value the vigour brought by the incentive of master node.


#6

It will not hurt miner in any case.
If we see different models 88% goes to miners and 3% to team for future development and remaining percent 9% to masternode runners.

And it is not very big amount and if we calculate Roi masternode people are only getting 9 to 10 % annually.

Actually it have save them a lot
For example
Dash was at 0.092 on december and now it is of 0.039 btc almost around 60% loss when the market will start to recover and goes back to its position these coin will immediately recover reasons:
See network stats http://178.254.23.111/~pub/Dash/Dash_Info.html
see Current Number of Masternodes: 4677 x 1000 required
4,677,000 coins are locked by people for masternodes.
Check circulating supply you will know https://coinmarketcap.com/currencies/dash/
Simple rule less supply high demand prices will skyrocketing.

Our bitcoingold was at 0.076 and now it is at 0.004 you understand maths better than me
Calculate the loss you will get it.

Dont worry about hashrate and miners?
Secondly as we know equihash asic are shipping and zcash hashrate are going up and up. It simply means difficulty is also rising with it and now a days.
In a month or two it will not be profitable for gpu miners to run and compete with asic on zcash many of them will shift to bitcoingold for mining.

Masternode will help a lot bitcoingold and its miners as it is helping dash mining and masternode runners.
Has dashminers being hurt by masternode runners?


#7

If you liked and want bitcoingold masternodes show your vote of confidence to team by liking and retweeting this post.


All people and community really replying and wishing to have masternode for bitcoingold

Thanks for the support for btg masternode


#8

Has dashminers being hurt by masternode runners?

How Masternode runners benefit miners and community and not hurt at all?
As we know when people buy high amount of coin and lock and hold for masternodes. The prices jump high of the coin. When the prices jump high of a specific coin in an algorithm it became profitable to mine for miners and all people miners rush to it to mine. In which little amount of 8 to 9 percent is distributed among all masternode runners. So in this way both the parties are in profits.
If there would not have been masternode prices would not jumped and miners would not have been profitable to mine of a specific coin.

Easy example to let @h4x3rotab and team understand how ?
In december bitcoin was at around $20000 and it was profitable to mine with 14Th/s and generate $15 to $16 a day. https://www.coinwarz.com/cryptocurrency

Now a days if you mine with 14Th/s you will generate around $1.1 to $1.25 a day. When the prices go up miners are in great profits.
With the help of masternodes people will buy 1 to 2 million btg easily all around the world. Prices will blast to high.
Miner will also generate high amount of profits due to prices are high.
So both the parties generate high amount of profit
Miners and masternode runners.
With the help of masternode coin also offers great feature and described in above post.


#9

Regardless of the small percentage, it’s still taking away from miners and is incompatible with btg mission/vision in principle, it may be technically harmless but I think we are talking about strategy here…

Besides that, I am here because I believe in btg and appreciate it for what it is, a currency that can be used for trading goods and services, that’s the real value of this coin, if it can really prevent double spend attacks, then for me that might be worth considering, if there are no other alternatives…

As for current market price, even though I’m quite invested and need a partial roi soon, the market price right now is the least of my concerns because I have no doubt if btg price done rise now which is very unlikely, it eventually will and I don’t care if it hits the roof or not, at the end of the day what I care about the most is coming out with the best product in the market, as for getting rich I don’t think I need to worry about that I’m already in the right circle…


#10

It is not taking away it is giving miners the more profit by boosting the prices and giving more feature to coin. Miners will be in more than 2x profit from the current situation with help of masternodes.

I have already explained all the strategies over in this post.


#11

You may be onto something I’m just a small time miner but for me as I said earlier if it can really prevent double spend attacks and there is no other alternative then it may be worth considering…

Yet you will have to deal with all the FUD that will come from that, though I feel like the support of the really dedicated miners to run masternodes, if that proves benefitial for the regular miners and price does go up then I think we can pull through, at the end of the day the small-time miner is looking for profitability and if it becomes more profitable people will mine it… Regardless of all the FUD

But truly and at the deepest level, I think the main concern is as we saw happened with btc and since the technology is so new many things are unforeseen and you might have a strong argument here, yet there may be many things unforseen, so I think it’s good we are having this conversation…


#12

I do not trust smart contracts.

This is a code law. I have already seen enough stories like “etc”.

Masternode is quite different from “btg”.

Though there are a number of master node theories called third generation coin
There are also a number of problems.

The discussion of these things is the conclusion I have collected and released a great deal of information.

The LN is the second layer, not more or less.

I think the following.
The real value of coins like BTC
Nothing has to change.

The financial forces that started in England in the 16th century and the unique value of the world
Guaranteeing is something that does not change anything.

I only pay attention to the distant future inflation rate of BTC and BTG in a similar way to the rate of gold mining / economic growth in the 19th century.

What really matters is not new.


#13

When bitcoingold masternodes will be available ?
I buy btg again if it releases.
I support the idea of btg masternode given you the like and retweet.

Hope so all community like this idea. Team will also understand that btg masternode will give help to miners for more profits.
All people all around the world are waiting for bitcoingold masternodes
Best of luck for it.

If btg have release masternodes earlier i would have never sold by 1140 BTG. @h4x3rotab
Waiting for btg masternodes


#14

MASTERNODES CAN HELP TO VALIDATE all public transactions extremely fast by communicating each transaction across all nodes on the network to prevent double spending.
The team and developers know it.
MIners with the help of masternodes immediately stop any chances of double spending


#16

Here’s a chart of Dash for the past 3.5 years:

The price skyrocketed in March of 2017.

Is that when Dash introduced Masternodes? When did they introduce Masternodes? Answer: March, 2014.

If Dash had Masternodes all this time, then why did price not skyrocket before?

Consider that there may be other factors at play, and it’s not all about the Masternode… and this means that adding Masternodes to BTG might not cause a similar “skyrocket.” Dash had Masternodes for years with no “skyrocket…”


Or, here’s another piece of food for thought. Check out this list:

https://www.investitin.com/masternode-list/

That’s a list of 93 Masternode coins. It includes Dash, but let’s set Dash aside for a moment.

Out of the 92 remaining coins in that list, can you find any coins that are in the top 50 coins on Coin Market Cap right now?

In fact, other than Dash, I only see three coins in the top 100 - PIVX (79), SYS (87), and XZC (100). None in the top 50.

If only 3 out of about 92 coins with Masternodes are in the top 100 coins, then perhaps Masternodes are not a guaranteed solution to make every coin skyrocket.


#17

Today, due to a mistake in one of the BPs in eos, an incident occurred in which all the money that was blocked was paid.

This is said to be a new problem with the masternode above the block chain.

It is more important to be safer than new.

Etherium DAO was not a hack.

DAO meaning “code is law”.
When a smart contract was dealt with by a non-forensic person, there was a very small legal loophole.
And it is the Etherium DAO crack which is broken by this legal loophole.

In the end, Buterin canceled the DAO, meaning “code is not law.”

The programmatic, logical and legal verification of the master node
It’s the beginning.

I think BTG, which has already taken over the already proven BTC block chain, does not have to take these risk.

“The masternode is not the future of the block chain” I think.
It’s likely to “Code is not law”


#18

The masternodes were announced in March 2014. The price went from about $0.60 in April to $15 in May.
These coin prices raised when the crypto was not that famous as compared to now a days.
First dash was known as darkcoin Masternode launch https://www.ccn.com/darkcoin-price-skyrockets-eve-masternode-launch/
The price raised around 1800% from $0.6 to $13 in a month. And it never came back to even $1 then.
All above mentioned Dash price skyrocketed.

See network stats http://178.254.23.111/~pub/Dash/Dash_Info.html
see Current Number of Masternodes: 4677 x 1000 required
4,677,000 coins are locked by people for masternodes.
Check circulating supply you will know https://coinmarketcap.com/currencies/dash/
Simple rule less supply high demand prices will skyrocketing.
Many years have passed dash have maintained its position ranking in coinmarketcap.

Many years ago cryptomarket was not famous and price skyrocketed at that time from $0.6 to $13 dash. So the price sky rocket at that time as mentioned above and at that point remember when btc was low. When btc started to rise all coin improved and dash rise to $1400 last year.

Our bitcoingold was at 0.076 and now it is at 0.004 you understand maths better than me
Calculate the loss you will get it.

Other example:
Pivx masternode launch on https://pivxmasternode.org/2017/02/21/welcome-to-pivx-masternode/ at the end of February
Prices skyrocketed within days From $0.045 to $2

Many of other coins are not offering any thing except masternode and One feature they are giving to user is instant send. And some of them are scam. People created that coin and many of the project are not working so how this can be in top 50?
The coin which are working and operating and promoting the coin with the help of masternodes they provided some extra features to coin and price sky rocketed.
Only compare coin prices before masternode and after masternode you will get the amazing results.

MANY PEOPLE IN THE WORLD OWN LARGE AMOUNT OF BTC IN A WALLET IS THIS IS AGAINST DECENTRALIZATION?
Many anonymous coin have a team is this is against the anonymity of coin??
People buying and holding bitcoingold like bitcoin and other crypto and hold for it for masternode how this will centralize?
Many people own High amount of btg is this centralization?
Lightning network will run on some third parties nodes will it be against decentralization??
Dash is an anonymous coin how they can centralize nodes to make their anonymity visible?
Masternodes = Decentralization @h4x3rotab

see more about masternode decentralization http://dashmasternode.org/what-is-a-masternode/
Bitcoingold can add more features with help of masternodes or they can make their own type of masternodes
Hope so after network upgrade you and you team will discuss any type of node of btg team choice to build BTG Masternode.
What are they offering for users to hold btg?? BIG QUESTION


#19

If you want to make more comparisons because you believe in Masternodes, please do the work and provide the information. I’m happy to learn.

I’m very busy, but I was kind enough to do the work to show you that of close to 93 Masternode coins, only one is in the top 50 (Dash.) A 1.07% success rate does not convince me it’s a good idea - it convinces me that Dash has been successful for other reasons.

No, because having that BTC in a wallet does not let them control activity on the blockchain. They control only their own coins, and get no special earnings, just like every other holder.

No, because anyone can open a lightning channel, and doing so is cheap.

Because a Masternode has more power than a regular node. That’s what “Master” means: https://en.wikipedia.org/wiki/Master/slave_(technology)

If Masternodes can be purchased, then you’re saying power over the network can be purchased.

And if Masternodes are paid from block rewards, then there is less reward for miners.

For Dash, 45% of mining reward goes to Masternodes. If we gave 45% of mining rewards to Masternodes, that’s 45% less reward for miners… which means 45% less miners.

Right, a loss of 45% of our miners. This is simple math.

I’m not saying this is necessarily wrong for a coin project that wants this model.

But I’m am saying you’re wrong to claim Masternodes are not a kind of centralization - Masternodes give more power to certain nodes. That is the very essence of centralization of power, and it’s limited to those who have a lot of money.

Talk about exactly what you want the Masternodes to be doing, why they’re necessary, and why that power should be taken away from the Distributed Consensus (Nakamoto Consensus). If you can make a convincing argument of the value of the service that the Masternodes will provide, perhaps you can convince some of us it’s a good idea.

But as long as you pretend that Masternodes aren’t a kind of centralization, you make no sense to me. And no matter how many times you copy-paste your previous text, I will not be somehow convinced that Masternodes = magic moon rocket.

We haven’t talked, at all, about the difficulty of making this change. It might actually be easier to stand up a whole new coin - or for a Loyal Masternode advocate to go follow a coin that intends to be a masternode coin instead of a coin that was intended to follow the Bitcoin model.

Why do beople hold Bitcoin? Bitcoin has no masternodes. SAME QUESTION.


#20

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#21

Yes, in 2014, between the March announcement and the May 25th implementation, the DarkCoin price skyrocketed.

It skyrocketed because it was the first project with a new technology.

What happened to the price after May 25, when the Masternodes launched? Did the Masternodes cause massive gains? Here’s the rest of the year:

The vertical line is at the launch of the Masternodes.

Did the Masternodes cause price to rise?

It looks to me that it was just speculation about Masternodes that caused the price to rise, not the actual Masternodes. When the speculation was over, the price collapsed.

This is not what I want for BTG.