Dash Core Team Q4 2016 Summary Call

I would like to hear what the Core Team thinks about setting up a transparent arms length DGBB Audit System for the purpose of collecting and reporting on all Treasury transactions?
 
Jmmon said:
Blocks will be created for the next 100 years or so, so even if there isn't a solid plan yet, there's plenty of time to work on it! I think the current plan is fees will slowly fill in as block rewards decrease
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I agree with that, but I have to also go with @oaxaca's point that the terms "interest" or "ROI" might be a problem because of how those terms get used sometimes. The block reward will fund Masternodes for a hundred years, but the "interest" earned on collateral denominated in Dash, will not be competitive with say, a 4% interest rate you might earn in fiat - and that will happen in far fewer than a hundred years.

A better way to understand ROI for Masternodes is (block reward plus fees plus price appreciation) / original investment. If you leave out price appreciation from the equation then in 20 years you would need astronomical fees to compete with a 4% "interest rate" assuming over half the marketcap is still masternodes. This implies that incentives to invest in a masternode instead of something else, will trend towards not being due to interest earned in dash but due to speculation that the price will appreciate, in the same way that big Bitcoin investors are incentivized to buy/hoard Bitcoin (which has 0% "interest") instead of investing in something else.

Just thinking out loud
 
Some questions for the Q&A (if time permits)

@fernando When will the Dash foundation board be refreshed? Are there plans to attract new high profile directors from the broader crypto / finance world?

@Minotaur If you were a king for a day, what are the top 3 business integrations you would have implemented in the next 18 months?

@eduffield Can you explain some of the "under the hood" functionality that was included as part of 12.1. For example, does it allow the network to change variables like MN collateral amount? Or, can it be used to introduce collaterized mining?

@babygiraffe At the start of the year you predicted we would be in the top 4 of all crypto currencies by the end of the year. Given we have already passed that point barely a couple of months later, would you like to take this opportunity to make a new less conservative prediction? ;)
 
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I believe the way the price fluctuations may be handled is by applying the fixed rate like Gi01 offered above but with a little bit simplified model.

When a future contractor wants to make a proposal he can just set a price in dollars and then it will be bound to the price of Dash.
In this case the amount of Dash that has to be payed each month will be just different because it will be automatically updated each time the price is changed.

I don't know whether it's possible to implement here or not but it will eliminate the need for paying a lot more or less than a person originally requested.

For instance, assume John made a proposal for $500. For the current exchange rate ($71.34) it will be around 7 Dash.
However when a monthly payment is going to be payed, it will automatically adjust (6.25 Dash if 1 Dash=$80 or 10 Dash if 1 Dash=$50 or whatever the price is going to be).
So it's just a creation of real-time ticker that is pegged to the price of Dash that can solve the problem.

Hope that helps. Thanks Gi01 for making a clear point on this as well.


Gi01 said:
Change rate. Indeed, the budget needs a sort of fixed rate. Whoever got a proposal in the last months got "rich". I am extremely happy for them (and indeed, it could have been vice versa... or not?), but i think we can improve the system. I am also sure that the last week was crazy and we'll not see a price spike of this magnitudo again (or again - maybe not?), but we can still do something smarter.
Here is my proposal, that is easier than it looks. Please spend few mins to read it.
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I think that while this system is much simpler, it involves either a gigantic bank (in the case it goes up) or a big risk of not being paid the whole amount cause budget is fully burnt.

Also, I like more the proposal to be in dash. Thinking of long term ;)

I'll try to make a dedicated topic and re-explain it. May someone point me where i may post to give it the proper visibility?
 
Maybe you're right. What if the price falls dramatically, in this regard the budgeting system will decrease and the money may not be payed out as it were before.
But if it rises, we have a very nice interesting picture that will suit everybody.

But still I believe some system of price readjusting have to be applied.:)

Gi01 said:
I think that while this system is much simpler, it involves either a gigantic bank (in the case it goes up) or a big risk of not being paid the whole amount cause budget is fully burnt.

Also, I like more the proposal to be in dash. Thinking of long term ;)

I'll try to make a dedicated topic and re-explain it. May someone point me where i may post to give it the proper visibility?
Click to expand...
 
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