Record number of Thrones online today. People setting them up!

305

https://chainz.cryptoid.info/crw/

I'm surprised at the speedy bounce back in price. Big moves up + BTC is still raising, many support!

Hello and welcome!

Sorry to have ruined the mining bonanza! A necessary change though, it wasn't you personally who encouraged us to make it.

It sounds like something has gone wrong with node-vps.  The service is run by Chaositec, I'll just give him a nudge on Slack.  He's travelling today but will be back online soon.

307 Thrones online today, people setting them up every day now, now means 30pct of coin supply is LOCKED

More to the point, people have willingly staked 300,000 Crown to help us deliver Crown Revolution on a stable network.

I think stonehedge meant 3,070,000 CRW.... not 300,000....

As one looks at the network of thrones -- due to the low cost and initial relationship with OVH & Chaositec, Crown has geographic and service provider concentration in the existing thrones.  
This can be seen in the CryptoID BlockExplorer: https://chainz.cryptoid.info/crw/masternodes.dws

The throne functionality is built on the Dash masternode, and includes features like darksend and instant, which are part of Dash.  Conceptually, a key part of what is being worked on in "crown revolution" is just to boil the core down to the best features of Dash and Bitcoin - without the problems of delays and blocksize and mining waste.  One part of what needs to be determined and discussed in this forum will be the evolution of the payout structure and the layering of security & confirmation between different consensus protocols (mining/POW, staking/POS, and what Stonehedge has called the 3rd way -- but which I'm sure people can figure out if they try, it's not completely new as nothing is really completely new).  

A key part of what different alt-coins are doing and what Crown is also trying, is to test different combinations of existing technologies/code to create something new. If it works, it's open source and others can borrow from us as well...  Crown's only advantage will be to keep innovating and building...

But getting back to thrones -- a useful area of discussion for folks to post on might be their experience on different with setting up thrones on different cloud platforms...  I created a CRW throne image on AWS and discussed that briefly in a previous post.  While AWS is easy and geographically diverse, it's not cheap...  

I keep playing with different platforms and set up a few thrones on LINODE yesterday... www.linode.com

I used Ubuntu 16.04 LTS and a 15 MB drive and a 512 MB swap drive on Linode's smallest instance which is about $10 per month... what's nice about Linode is that they have the interface set up so it is easy to take an image of an initial throne and then clone that to new instances -- update the crowncoin.conf file and then restart crowncoind and voila, new throne in less than 10 minutes.

The curveball with linode was that I had to add a line to my throne install script because the "apt" package wasn't fully pre-installed.... so before running the add-apt-repository command to pull ppa:bitcoin/bitcoin, I had to add "sudo apt install software-properties-common"... for it to install the features to be able to recognize the repository command.

I'm a newbie and still learning this stuff...

More broadly -- if anyone else has any other platforms to recommend and any quirks which they notice to different Linux installs for the thrones on different cloud providers, feel free to chime in....

Yeah I had multiple issues and head scratching moments when it came to the vps configuration (not owners fault, I'll take that blame on myself .. aka learning curve). CHAOSiTEC was a major help earlier and answered the questions that I had in a really quick manner (suprising since he was on the road!).

Even after that, I ran into VIN issues, which I finally nailed down as well.. Couldn't count earlier apparently and I've only got 6 thrones up instead of 7 that I thought I had the coins for

Yeah... Chaositec is solid.

Documentation will also be addressed, but there really isn't a point to doing it before releasing the next round of updates which should brings the Crown core up to date with Dash & Bitcoin, which it had fallen behind.  Once these pieces are done, and the new wallet and throne manager are released as part of that -- then the process will get more interesting.  

Within the Thrones you will see that there are the "voting" capabilities of Dash.  So one point of discussion will be how to evolve governance of the project and what role the thrones should play.

Within the platform as a whole there will need to be prioritization of different projects and also there will be opportunities for people to step forward and do things like implementing the Open Asset Protocol or other Colored Coin protocols on Crown, where there might be value to marrying something like instant and a colored coin representing or backed by another asset.  In this way - CRW could be used as a backend payment service by some entrepreneur who had a money changing license, or other relevant licenses in the relevant jurisdiction...

The attraction at this point of being able to set up a business like this on CRW should be the low entry cost -- the risk for CRW to be able to build an eco-system around it is that the project is still more mud than lotus at this point... but from the mud comes the lotus... or that's what some of these guys are working on.

Clear communication and documentation of features as well as building transparent distributed governance structures for this "decentralized trustless software platform" will be important things for the Crown team to help build with the community.

The price is completely subject to market forces, always have always will be

Just to continue the thought on price and value, and extend it to the idea of investment/speculation -- because the value of CRW right now is really pure spec.  There is no real economic use of it at this point... not that this is that different from many others...

But if we look at CRW as something composed of 42 MM units at the end of the distribution period, and each unit trades for something in the neighborhood of $0.02 USD -- you have a platform which is running elements of a system which has been tested and developed for almost a decade (bitcoin core) and which has the potential to add improvements which others have already tested and proven (near instant transactions, distributed governance, notary and asset trading or simply backend transaction handling at low cost), and also has a vision for where to go from there to trying new things -- implemented open source so that these innovations will benefit CRW but also so that they will be available to the eco-system to create other innovative combinations and structures...

And the team is small, but composed of a number of bright young guys some of whom don't seem to sleep much which means they get a lot done, but are occasionally delusional... balanced by a few older guys who are cynical and skeptical but still remember being optimistic once.

So you have an option on this project delivering real economic value.  And if does create real economic value for its users and its community, then it's probably worth -- let's just pick a number out of the sky... no that's BS... let's think analytically -- if it is functionally a cloud system then one could compare it to cloud SaaS systems... since those companies are worth billions and in some cases arguably actually don't add economic value because they functionally capture and trap their customers -- so that their economic value in the market is actually a direct function of the cost to their customers to exit their platforms (switching costs)... but I'm getting sidetracked.

Let's just say if CRW were able to offer 1 or 2 real solutions to global market segments of the real economy in either transaction processing or data services or other possibilities -- it could be worth $100 MM (this feels like when Dr. Evil underbid the ransom for the Earth after being unfrozen... but best to understate)...  so if CRW or any other alt-coin is able to capture some use case in the real economy of this size, then it's value should move to approximate the aggregate value of the use divided by the number of units times some probability of continued success (the actual math isn't this simple -- but I'm trying to make an argument and this is a decent napkin math way to think about it)...

So if a coin with CRW's profile were to be in the position that it's use was worth $100 MM in some fashion and the odds of it's continued success are 50%, then $50MM/$42 MM is about $1 per coin, which is about 50x where it is now.   So modest success of an alt-coin project like CRW (and like many others as well -- CRW is not unique in it's pursuit of a slice of the real economy) could achieve a 50x return... and in the worst case and honestly most probable scenario -- CRW ends up worthless... but in that case you only lose 1x.

Generically looking at alt-coins then this is the simple case for the assymetric return potential (in the hypothetical case the upside in a modest success scenario is 50x the downside in a worst case scenario) -- that is the return potential for all the alt-coin the projects which are able to be of real use to a community in the real economy.

But the question will be how the many projects which are raising large amounts of capital from VC or have more and more corporate funding will be managed and whom they will view as their community.   Which walks the discussion back to my first post today earlier in the thread on thrones and distributed governance and community dialog in prioritizing development goals.  Because the key issue which we are seeing play out is that once a thing succeeds, it can change - or it can get locked in by corporate interests whose legal responsibility and fiduciary responsibilities may be contrary to community interests (this is a whole larger point - and one reason that one can logically argue that tradition for profit corporations are legally required to behave as sociopaths except where required by law not to).  But that's another divergence.

The point was that from the mud grows the lotus.  The community is the mud -- and it's not pretty, but it is what we all grow out of...  a part of the idea behind Crown is that their is a duality -- a looking back while looking forward.  And like all dualities it can be fun to play with and think about in different ways... from the mud grows the lotus...

The values of the community, the mud, which fertilized this project are part of not just it's past but where it is going.  The mud won't wash off.  Those values include a fundamental belief in the importance of a "independent trustless distributed decentralized fault tolerant contracting commerce and communications platforms" (I feel like the unfrozen caveman lawyer saying that) -- or of having at least one if it can be developed and having the code for that be open sourced so then there would be other.  So the clone could grow up to be cloned.  And that's the fun with dualities -- often when you game out the future you end up seeing something that happened in the past and when you study the past you see patterns that may repeat in the future.

And the fertilizer bit reminds me of Peter Sellers in the movie Being There -- as Chauncey Gardener, or Chance the Gardener -- who steps out into the world after the old man died...  chance does tend the garden in its way, and is the key to being able to implement network security through the structure of the network itself rather than anything else -- or I think that's one way of saying it...  and money is like manure, it doesn't do any good unless you spread it around.

The issue of how money gets spread around is one of the big ones.  And for what it's worth -- mud is better than manure.