Net. hashrate moving up again: 1329.65 TH/s

Im eager to know more about u. What secret do u hide between ur asscheeks? Suppose ur pool request get merged and u start to collect investors attention, what would u focus on once u've accomplished dumb goals outlined in ur whitepaper?

You think?

So I was right, you're gonna fuck your miners over again.

Miners got this coin started.

Miners built the infratructure & gave CRW a stable base.

Without miners, CRW would have died a long time ago - despite c_K's self buying/selling.

What happens?:

Miners lost 40% income.

Miners are gonna lose another 10%.

This coin is turning into a dash wannabe.

Give all the rewards to masternodes - screw the miners who are the backbone, generate income & helped build this coin.

Join up with the 100's of other POS coins & go nowhere.....

Dump incoming.....

Worth talking about mining.  Miners do secure the blockchain, and provide a valuable service.

But in Satoshi's original system mining served to secure the chain and also distribute coins to new users.  Miners now are normally not the new users because of how mining was "professionalized" and largely concentrated.  In this light, mining is actually a failure.  Mining failed to continue building the community around coins because of how it developed.

So if a coin wants to evolve and respect the original vision of a growing community, what to do?

Well -- Dash introduced some innovations including the masternodes and instantx (which resembles zookeeper and other quorum structures at the core of everything in distributed computing).  The masternodes introduce a server tier at which one can offer services and also use POS to secure the chain.  In order to build in this layer -- the Crown team shifted the rewards away from miners and by building the community the value of the coin increased.

Now another shift in rewards is being contemplated.  And it's perfectly valid to ask why?

The reason is simple (as I understand it) -- the team would like to have a funding mechanism for the development fund which does not require outside contributions.  By shifting rewards into the development fund it creates a sustainable structure where developers can be paid from the dev fund as the capabilities of the platform are built.  This sort of funding structure is intended to help protect the community from corporate capture if the coin becomes successful.  If it doesn't then we were wrong and we screwed up.

The rewards to the thrones are also proposed to be slightly increased.  This just improves the profitability of the thrones during the development period. 

As far as the long term role of mining in the coin economy and in the context of Crown -- this is what we need to be able to have a constructive discussion about.  I found the coin as a miner initially - so I see the value of mining -- but I also stopped mining because of the waste involved with it and also the because of the extraordinary concentration of the mining industry which is a real long-term problem we all have to confront.

I don't have an answer to all this -- but I do think that what the team is doing is actually quite distinct. 

As far as dumping goes -- if you want to that's fine.  You have to make your own decisions, but as Defunctec mentions -- there is another option.  You can evolve with the system and hold onto mining rewards and use them to set up thrones/nodes and over time become an application service provider.  The idea is for the thrones to be able to generate revenues from providing compute resources and validation services to applications.  This isn't that complicated when one realized that a blockchain is actually a public key infrastructure.

Within the application layer a key idea which no one seems to be working with is that not everything should be permanent. Some activity is temporary or ephemeral.  So one could build an application layer, linked with a blockchain, which was designed for security and forgetting.

If the platform has an application layer for developers -- then the Crown Network could actually just set the platform fees at a utility level and let the application developers profit -- rather than raking them.  The only requirement might be that the projects have to be open source to run on the platform.  But then you can have an app store that's about the developers as long as they are developing open source... and note that this isn't anything trying to run on the block chain - but just on resources secured by the keys in the chain, and paid for by tokens on the chain...

And there are several other angles... So that's what's being worked on -- a Crown enabled world of open source applications running with some link to the server nodes. 

This feels different than Dash. 

To help set up a structure to fund this vision, the proposal is to shift 10% of the rewards to the Dev Fund and an incremental 5% of the rewards to the Throne Nodes, reducing the Miner payments by 15%.  This seems reasonable.

The hope would be that the miners would get interested in how the nodes will work, and continue to grow and develop with the Crown community - not that they become alienated.  But part of what is also being clearly signaled is that mining will be progressively less and less important to the network as the application/server layer grows.  This is a strategic decision, and it may not happen -- but I respect the team for signaling the shift despite the certainty of blowback.

The only thing standing still as coin gets you is death -- and odds are that if you try anything interesting you get killed too.  And plenty of folks just seem to like to throw insults.  So it's no surprise to me that the coin economy has generated much less in terms of innovation that the revolutionary technology it is working with should have.  The lack of successful innovation is linked to the lack of civil discourse and constructive problem solving in the community. 

Crown just hopes to find a few people who are interested in this vision, and then a few more and just to make progress that way.  Despite the colorful comments, this is what has been happening and what is likely to continue to happen if the team stays focused on delivering and communicating.  There are fascinating and useful problems to be solved.  If folks are interested in solving important problems in collaboration with a pragmatic team or starting their own software business on a new platform -- think about getting in touch with the Crown team. 

I wouldn't take it personally, take a look at his post history.  Seems to be pretty angry with the world.

I'm delighted to announce that testing of the new release including Bitcoin Core updates and improvements to the service network has begun.

Infernoman is pregnant?!

Yep, he's ready to give birth to his baby, he calls it "Core Updates".

It seems peercoin has been on slushpool voting for ages. Surly they will be added sooner?