[Proposal] Increasing rewards for secure node owners to 5 %


#41

thats why i wrote many times and suggested to act asap… there is no time more not to take decisions and waisting time to exist without real efficient marketing. If zencash will not invest many energy and $$$ in marketing to bring price where should be (other coins without special marketing are +200% so zencash with secure nodes should be much more)… people will be angry soon, will delete nodes, will dumps coins and for zencash it is not good. Thats why smart team should see some problems before they really exist and solve such problems.

Almost all people or all are here for money… main team also - this is not bad thing, everybody want the same, more value to the coin, price min $100 and coin in top25 or max top50 not like now in second ligue :frowning:


#42

Zen is up like 500% in the last 60-70 days. I’m not sure what you’re expecting but the entire market is in a bubble so it sounds like you just want some quick gains. If you stick around in the long run and believe in the project then getting in now while market cap is 100m is still cheap. If you truly think this coin can replace or compete with zcash then there is still 1800% gains left to be made.

Once IPFS and the encrypted chat are up and running, that’s when we throw the marketing campaign in overdrive.


#43

hey just my two zencents on this topic…def a great thread we need to continue monitoring over time…

the node payment scheme is to pay people for performing services…we def could lock up more supply by upping stake requirement, but that comes with the downside of economically excluding people who can’t afford it…not my fav thing to do.

The % of block rewards is irrelevant, in theory, as controversial as that might sound…it’s all about whatever the global market reward requirement is…whatever % we set is arbitrary and the node count will fluctuate to ultimately settle on what operators require.

What i am a fan of doing is upping the reward at some point in future when we layer on more services, like a distributed file storage system (ZenPub) or perhaps Tor integration…

Anyway, complicated topic it’s good we’re starting to consider. Thanks for posting!


#44

yes but mainly because of Palm Beach Confidential suggestion to buy zencash long term and very many people use their suggestions, many big “fishes” follow them also (becuse they have big authority).


#45

definitely a part of it, but that was for a price target or $20…we’re about 2x from there already.


#46

I signed up here to comment on this thread… as it seems to be driven by greed…

How much does a 1080 Ti cost ? It gets about 0.15 zen in ~24 hours

Now compare that to the the $10 vps cost per month that you could cancel at any time ? Sure you might need to have 42 zen set aside to be able to create a secure node… but if zen goes up in price, that holding appreciates… whereas the miner’s video card depreciates…Yet you guys want to take more from the miners ?


#47

First thing and most importand - need much better and active marketing because only then the price will be easy 50, $100 and more per coin and because of this everybody will be more happy (team, miners, secure nodes owners even % will be maybe changed in the future a little)

Calculation

  1. Invest in secure node - 42 coins = about $1600 (about 2 x 1080ti cards) = monthly reward about $75 and risk no reward if something goes wrong with hosting etc (min 92% uptime).

  2. Invest in additional 2 x 1080ti cards (about the same value as secure node now) = monthly profit from 2 cards about $400 and problem also for zencash coin because many people fast dump mined coins (i am mining also zencash because i hope the team will start marketing and zencash will go the the sky next months - so for me long term investment as miner but secure node owner also). After 5 months from such investment someone have secure node and 2 x 1080 ti cards and the same profit like from secure node now (about $400).

I am also miner (mainly)… it should be a little better balanced (%) - if not now, maybe in 1-2 months.


#48

Increasing rewards will simply bring more nodes while the token price is low. Once the token price is much higher say $300 then a node costs $13000 and most average people don’t have that kind of cash to drop on a secure node so all you will get is people who already have nodes increasing the number of nodes which starts an arms race and gets a bit ridiculous for instance I have five nodes and to maintain my ratio of profitability to some guy who has 100 he has to increase his node number by 20 I have to increase my node number by 1. The ratio I am going to maintain is one node per thousand. So getting back to the point I was trying to make. We need to raise rewards once the price for a node gets out of reach for the average person then node rewards should increase to 5% and node numbers capped at 10000 is approximately how I would like to see it.


#49

So what you are saying is that you want to create a monopoly for those who get in first.

Ok, if it goes that far lets make it so that those in the 10000 only get to stay in the 10000 if they can maintain 99.999% uptime in any given month. If it can’t then it gets kicked out for 1 year.


#50

Did you not read the rest of my post? Specifically the part about the average person not being able to afford a node when Zen hits 1k or even 250 - 500 dollars for that matter? How about you address that part before accusing me of wanting a monopoly, frankly I couldn’t care less if its 10k or 100k nodes as I will maintain my ratio at 100k nodes I will own 100 nodes i.e. 1 per thousand but I do believe there should be a cap. If there is one thing I have realised about life its miss out on one opportunity there is always another one around the corner I missed dash masternodes for instance but I’m not whining about it…much :wink:


#51

also just want to note that the system will be flexible such that the community can one day increase or decrease staking requirement. Would not want to economically exclude people as ZEN jumps in price…at least that’s how i’d vote.


#52

Well for those that didnt see ahead like I did, here is Rob Viglione talking about increasing rewards for securenodes, plus adding supernodes (with bigger stake requirements) https://www.youtube.com/watch?v=uQ7oUBY0P5Q

You need to trust in my vision :stuck_out_tongue: