Governance The Project's Commitment

Discussion in 'Announcements' started by _ingsoc, Feb 18, 2016.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. _ingsoc

    _ingsoc Hero Member

    Dec 7, 2015
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    1,133
    Hello everyone,

    As Decred prepares to enter new waters, the project states the following publicly and unequivocally: No developer or project member will trade any of their bring-up DCR for 12 months (28%) and c0 will not trade any of its bring-up DCR for 24 months (72%). These funds are therefore ineligible for trading during that time. There has not been any activity on any market from these funds.

    You can take this as the project's commitment to you and as confidence in a long-term effort. If you have taken the time to learn about the technology and support it, the project owes you such assurance to know this is a serious endeavour of continuous development. Decred is here to stay and the project is honoured to have you.

    Note: All bring-up DCR addresses and airdrop participant addresses are publicly listed in the Decred source code.

    Sincerely,
    Decred Project
     
    whis, Rune S, Reynold and 23 others like this.
  2. Dyrk

    Dyrk Sr. Member
    Developer

    Jan 7, 2016
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    Wonderland
    Great announcement and right decision! You rock guys!

    And what about PoS? Are c0 voting with those premined coins?
     
  3. Freemind

    Freemind Member
    Translator (Español)

    Jan 17, 2016
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    Great news again @_ingsoc. Thanks for the information.
     
  4. sambiohazard

    sambiohazard Sr. Member

    Jan 21, 2016
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    Yes some of those coins are spent and you can see that those are used to buy tickets. It will be hard to keep track of premine fund although if they keep buying tickets. Not that i don't trust them but just for the doubters & fudders it would be easy to say that coin are moving w/o seeing where they are going.
     
  5. davecgh

    davecgh Hero Member
    Developer Organizer

    Dec 31, 2015
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    I'd have to dig up the actual post, but it was already announced some time ago that C0 + devs will throttle their staking for an initial period in order to ensure a fair and secure system.
     
    chappjc likes this.
  6. sambiohazard

    sambiohazard Sr. Member

    Jan 21, 2016
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    No i didn't mean that, i mean if the coins are used in staking then they are shown as spent in explorer and it can be used to create FUD and also as they move into new change addresses it will get hard to keep track of them manually.
     
    davecgh likes this.
  7. davecgh

    davecgh Hero Member
    Developer Organizer

    Dec 31, 2015
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    I was actually responding to Dyrk's question there about whether or not C0 is voting with them.

    However, I do agree with you that it will be harder to track manually with coin movement due to staking though it wouldn't be particularly hard for someone to write a little code to monitor it for people who are genuinely concerned.
     
    sambiohazard likes this.
  8. Michael Crego

    Michael Crego Member

    Dec 19, 2015
    62
    74
    Male
    Florida
    You nevery stop impressing me. My coins from the airdrop and the thousand or so I have accumulated to date, as well as any future coins I purchase will also be unavailable on exchanges. You have my full confidence and support. Thanks, again, for keeping us informed, and for the professionalism displayed at every turn. Keep up the outstanding work, guys. Decred forever.
     
    koolykg likes this.
  9. Michael Crego

    Michael Crego Member

    Dec 19, 2015
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    Florida
    This FUD is already happening on POLO. I saw a post in the troll box saying "Decred has lost ALL coins from the airdrop" It would seem to me that the issue you raised may be partially to blame for this. I refuted what was said in the trollbox, so as not to let the FUDSTER generate negativity.
     
    sambiohazard likes this.
  10. Noah

    Noah Member
    Advocate (Twitter)

    Feb 1, 2016
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    Male
    Amsterdam
    Great decision, proud to be one of the early adopters.

    As for the future, I'm curious to see where this ride will take us.

    Decred to the moon.PNG
     
    koolykg, Michael Crego and ay-p like this.
  11. Johnshpon3

    Johnshpon3 Member

    Dec 25, 2015
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    Slovenia
    Nice, I'm jumping in. My commitment is that I will not sell my airdrop at least for one year after receiving it!
     
    DarkMatter, ay-p and sambiohazard like this.
  12. Michael Crego

    Michael Crego Member

    Dec 19, 2015
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    Nice
     
  13. shoshin

    shoshin Member

    Dec 28, 2015
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    Impressive. This announcement should serve to quell any doubts about the long term viability of this coin or the confidence of the devs in their work. Thank you.
     
    koolykg likes this.
  14. adam2312

    adam2312 Jr. Member

    Jan 11, 2016
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    In my little ways I consider myself a project member, and as a result will commit to the same. While I intend to gift 1% of my airdrop to 10 close people over the year, the rest will be unsold.
     
  15. frankbraun

    frankbraun New Member

    Jan 18, 2016
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    14
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    Programmer
    Berlin
    Wow, this makes me even more convinced that my decision to hold my Decred from the airdrop long-term was the right one. And that I should try to make some more :)
     
    Arto likes this.
  16. nikos1978

    nikos1978 New Member

    Feb 17, 2016
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    When gui wallet will be out???
     
  17. highlonesome

    highlonesome Member
    Designer

    Jan 11, 2016
    104
    93
    Ha, I already had plenty of confidence in the project, but this is awesome to hear. Really glad I just randomly stumbled upon Decred; I honestly only had a cursory interest in cryptocurrency when I found the site. Lots and lots of learning since then, it's been a great experience.
     
  18. Bill Threewits

    Jan 16, 2016
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    Male
    Banker
    North Carolina
    Love the lockup - demonstrates believe and quells pump-and-dump fears from doubters. PoW/PoS hybrid should solve conflict of interests issues BTC is facing (i.e. Chinese miners and data block size). Price should lead hashrate for awhile and then swap as hashrate makes DCR's transaction capacity challenge that of BTC. Dispersion of hashing/ownership remains a challenge.

    I know that the purpose statement holds that we are not challenging BTC ; however, ascendancy of DCR will be inevitable if, indeed, it has solved BTC shortcomings. (politics, network concentration, vulnerability, funding)
    • Can current BTC ecosystem ( Blockchain, Bitpay, Coinbase, Blockstream, Xapo, Circle, BitNet, BitGo) be easily adapted to DCR?
    • Are there any other crypto-currencies ascending? (DASH seems to be getting some attention and, of course, Ethereum)

    -- "The pioneers get the arrows, the settlers get the gold." (not saying it is about gold...benefit mankind, change the world, innovate in banking for once in the last 40 years, drive transaction costs to near zero...etc.)
     
  19. sambiohazard

    sambiohazard Sr. Member

    Jan 21, 2016
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    I like the positive feelings all around and i don't want to ruin the party but i think everyone needs to keep checking for irrational exuberance. We are in an ongoing experiment and already facing challenges in technology & from trolls. I am sure we will be on top of it all. Still these are early days and lots more bigger challenges are ahead. I just want everyone to keep their expectations in check and be ready if there are any setbacks.

    Its nice to compare DCR to BTC but we need to realize that BTC had 2-3 years of solid development before it was even ready for adoption by early believers and it has its challenges even today. Now-a-days every currency is in limelight from day 1 and its dangerous to try and get it onto every platform possible. I think we need organic growth while tech is being solidified silently in the background. I think BTC is a great example of what happens to development when you are in the spotlight.

    Lets take this one step at a time. Don't sell everything you have to buy DCR but just keep talking to people you know and who can understand what DCR is all about. Keep voting not for the rewards but for n/w security, be aware of your choice and when an important hard fork vote comes, be ready with a decision. Get involved in deciding the RFPs and discussing it, keeping upto date on progress, like an investor/shareholder. If there is a problem, its not devs' problem, its community's problem as well. You need to help the devs with solving it, not just complaint about it. Give them as much info & screenshots as you can so they can understand and solve the problem. If this doesn't happen then DCR is not much different that other alts.

    Devs are doing their part, I hope community does its part as well. If you read it all, thanks for reading my rant :D
     
    Noah, CrzyTed, Michael Crego and 2 others like this.
  20. davecgh

    davecgh Hero Member
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    Dec 31, 2015
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    #20 davecgh, Feb 19, 2016
    Last edited: Feb 19, 2016
    This section really rings true to me. So many people forget that Bitcoin has been publicly under development for just over 7 years now (initial release was Jan 9, 2009) with enhancements from hundreds of developers and suggestions and feedback from 10s of thousands of people. Also, nobody knows how long it was under development before the initial release, but we can be sure it was not a trivial amount of time (legend has it that it was roughly 2 years and that sounds quite reasonably accurate to me). Point being, essentially Bitcoin is realistically encroaching on a decade of development at this point.

    I suspect many people don't even know, or have simply forgotten, that the initial release of the Satoshi client had a ton of issues, including the ability to spend coins that weren't yours, was Windows only (compiled with Microsoft Visual Studio), didn't have a command line or RPC interface at all, so it was impossible to interface with from external applications, and the only existing wallet wasn't even able to send transactions due to bugs for the first 170 blocks.

    As far as exchanges, it took over a year (14 months) before it was added to the first exchange.

    Anyways, I could go on, but I just wanted to point out that what Sam is saying is right on the mark. It takes a concerted and long-term effort to bring any innovative technology to the mainstream.
     
    _ingsoc, Finksy, highlonesome and 7 others like this.

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