Bitcoingold Masternode (mainstream adoption)

[qasimsaleem]

@MentalNomad

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

We are the fork of bitcoin like bitcoincash and we need to offer something unique that no one has offered.
Many fork coins are dead we dont want bitcoingold to be dead.
Masternode coin became centralize only when whole coin is on proof of stake. And btg dont need to do it.
We want miners and masternodes both. like dash it can be mine with x11 and have masternodes.

If you dont agree with masternodes provide and offer any type of bitcoingold nodes.

@MentalNomad

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

It is not like that this is false.
I have explained it above previously see it:

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 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.

@MentalNomad

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

@MentalNomad

Did the Masternodes cause price to rise?

Yes we all know prices skyrocket in a month when masternode announced and launched. And it never came back to $0.6 again.
See the chart

In coin usd value decline when btc fall and rise.
In terms of btc value of dash it went from 0.001 to 0.024 due to nodes announcement and launch.
It reached very high are market correction start taking place and reached 0.007 from 0.024
And it keeps on fluctuating for months from 0.007 to 0.006 and never came back to 0.001 BTC again.

If you dont want masternodes keep this thing aside as an alternative launch something like masternodes for people to buy 1000 BTG.
Change the name of it as Suggestions : BTGnodes , BitcrospG

[qasimsaleem]

@MentalNomad

Talk about exactly what you want the Masternodes to be doing, why they’re necessary,

@MentalNomad

If you can make a convincing argument of the value of the service that the Masternodes will provide,

Bitcoingold can provide many services like Suggestions:
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.
Bitcoingold can provide/offer multiple things in masternodes.

If you dont want masternodes leave this thing aside alternatively launch something like or change it for people to buy 1000 BTG.
Change the name of it as Suggested above also : BTGnodes , BitcrospG
You can provide another service like node runners will get all the transaction fees.
Or
Provide service to the network by collecting fee.
Collect fees by providing service to the network.

[ssong]

Good morning.

I know what you want to say.
But you do not really know what Nomad is talking about.

Why did the BCH block fork 32MB?
Why does BCH insult LN not to follow satoshi’s model?

Half-life comes every four years.
Compensation for the miners is decreasing. Or it becomes uncertain.
In the distant future, even if a transaction explodes, there is a 1MB limit.

BCH for the benefit of miners
It has secured 32 times of future future commission rewards.

Also, due to the 10 minute block time, they make BCH pay an absolute necessity.
In other words, they also want to pay fees like visa.
Also, it is against decentralized that pay service is essential in the middle.

BTG team do not know these things?

But they chose LN.

BTG focuses only on the value of decentralized currency, which first appeared in human history, rather than on miner’s gains.

If only short-term gain is considered, it is securities. It is not decentralized currency.

It is meaningless to talk only about the miner’s gain and money.

BTG is “more decentralized currency than BTC” only this is enough.

I think.

ps. The advantages and capabilities of the masternode you say are not proven in this discussion. Rather, the word “master” sounds negative.

rather than talking about masternode, I want to you read book
“currency war 1-5, 宋鴻兵”

than… you will know about more important decentralized rather than masternode.

[qasimsaleem]

The master sounds like negative but the result it give are very positive.
All details are given. How it will benefit the miners the most.
Dash is an anonymous coin how they can centralize nodes to make their anonymity visible?
If you dont want masternodes keep this thing aside as an alternative launch something like masternodes for people to buy 1000 BTG.
Change the name of it as Suggestions : BTGnodes , BitcrospG

[qasimsaleem]

Thanks to all the community who appreciated and have given the vote of confidence to it.
https://twitter.com/areebakhan007/status/1011352002851430401
This is the first tweet that have engaged to much.

We all want to buy 1000 BTG

[Joseph]

No, never this is against the vision of decentralized mining.
This does not help adoption at all

It’s just wealthy people will buy 1000 BTG then sit back to watch it become more BTG.
Why do you continue with this idea like thats not what it is.

I will never support a BTG with masternode the way you describe it.

[qasimsaleem]

I have a question why dont you increase the block time like to 12 minutes.
Its already set to average 10 minutes timeframe.
BTG will have lightning network that will solve the problem of confirmation time.

[Joseph]

We wont be doing that either, I remember you asked me this already.

[moondosa]

You have already put a lot of investors into hell. Having a master node would be much more valuable than it is now.

[MentalNomad]

@moondosa

You have already put a lot of investors into hell. Having a master node…

FIRST: Masternodes are inherently a kind of Centralization, and Bitcoin Gold is fundamentally a Decentralization project. If the BTG project takes steps towards Centralization, abandoning our core philosophy and breaking all those promises, we can expect a great many investors to dump and depress the coin price dramatically. No matter what the current price is, it can always drop another 90% if we try to change the rules and manipulate the supply by forcing in Masternodes.

SECOND: Masternode coins have fallen in the crypto winter bear market just like other coins. Dash, perhaps the most successful masternode coin, had a high of $1,642.22 on Dec 20, 2017:

---

And Dash had a low of $58.28 on Dec 15, 2018:

That’s -$1,583.94, or -96.45% from peak to bottom.

This is not a dig on Dash, it’s just a reality of the radical crypto bear market we’ve had. Dash has recovered from that low. The point is that Masternodes are not a magic solution to “investor hell.”

This is also not a dig on Masternodes - projects are designed with technical goals which may be met with Masternodes. It necessarily brings some Centralization, but it may be worth the tradeoff for that community and investors if that project delivers some sort of functionality that can only be done by Masternodes. However, if the only thing the Masternodes do is make people invest coins so that they can own a Masternode and get revenue from the chain because they own it, then it’s really just a price manipulation scheme based on creating artificial scarcity! It may produce a short-term price pump, but long-term, it will probably cause the project and price to fail.

In summary:

• if a Masternode-based project has the Masternodes primarily to serve an important technical role, then it can be legitimate and successful, as long as the investors are willing to sacrifice some Decentralization.
• if a Masternode-based project has Masternodes to reduce coin supply and drive up the price then it’s just a Pump-and-Dump scam.

[Andrew]

Если владельцы мастернода будут первыми инвесторами в конце кризисного периода, которые будут держать монеты после спада, то и цены на монету будут гораздо быстрее восстанавливаться. Я думаю, что только одно появление крупных холдеров после спада даст ощутимую услугу монете, в отличие от спекулянты на бирже.

[max]

@MentalNomad

They’d try to convince people the company would be fantastic, and that their investment was a sure thing to make them rich.

And the usual bs!
Starts off with 1000…

@qasimsaleem

Suppose 1000 btg required for 1 masternode and thousands of people will buy.
1000*1000 1 million would be

& ends in the 3-4000 range, only a scroll dwonwards

@qasimsaleem

(7) Btg masternode will at the top of the game.
3000 to 4000 nodes will be

You can’t centralize my a**, a**hole!