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Archived PIVX Lifeline [Masternodes block reward decrease voting]

Ambassador

Moderator
Title: PIVX Lifeline
Name: PIVX-Lifeline
Term: 1 Cycle
Cycle Amount: 50 PIV
Total Amount: 50 PIV
Author: PIVX Community
Receiver: Ambassador
Address: DLbDq7rMqjUuh9SUrDw4t52DweY7tJpUvj
Created: 19th January, 2022
Status: Active
Vote Hash: 9bb2492d259747559de670e79b0d403489e07ab1f7a761b3f26628a23ac7d9a3

Summary​


PIVX has a real threat of being delisted by major exchanges: Kucoin and Binance. You can see that Binance already delisted PIVX/ETH pair now:

https://www.binance.com/en/support/announcement/6c2dee9fecc24988bdfb401f28abb875

Binance did it without a warning. They just stated that the PIVX/ETH pair will be delisted due to low volume. On the other hand, multiple warnings were received lately from Kucoin, and again the reason for this is that the trading volume is simply very low. That is because no one really knows about PIVX, mostly due to lack of funding for serious Marketing campaign(s).

This proposal asks that MNOs agree to dropping their rewards from 3.0 PIV per block down to maximally 2.3 PIV per block. Final decision for the exact number of MN reward per block will be decided exclusively by Core developers. This is a formal voting for Masternode owners to decide whether they accept that the MN rewards decrease up to 0.7 PIV per block. The difference of 0.7 PIV or less per block will be moved to the Treasury to support the efforts to prevent PIVX from being delisted by major exchanges, strong Marketing activities and promotions, business developments, and more.

Every MNO is invited to vote for or against this proposal, as the voting is possible for each and every MN owner in a decentralized manner, using the best possible option that PIVX’s tech currently allows: through a budget proposal system.


Marketing Status​


First, we should clarify that the word ‘Marketing’ by itself is already a very broad term. However, the ‘Marketing’ proposals over the last year or more, have also included ‘Business Development’, making it even more broad.

There has NEVER been a proper Marketing budget for PIVX, even since it was launched as DarkNet. It has always had a purely technical focus. There have been times where attempts were made, with limited budgets, but Marketing always means motivating exchanges, influencers, news websites, and advertisers that are OUTSIDE the PIVX space. Given the MANY well funded ICO, meme coin and high inflationary projects out there, as well as the current NFT craze, it is impossible for PIVX to compete. Our Business Development / Marketing Team works for FREE, and ALL funds are spent to motivate the above mentioned influencers. They charge market rates, and they do not ‘bleed purple’ like our Core Developers and other PIVians do.

The fact that PIVX offers Staking Rewards is in some cases a curse. It motivates people to HOLD and not trade. That combined with no one knowing about PIVX has increasingly hurt volume on exchanges. Over time, that forced the Business Development Team to fund ‘Liquidity Programs’ with Binance and Kucoin. The amount spent on that is almost the entire monthly budget for Business Development and Marketing.

In other words, it is fair to say that currently there are ZERO FUNDS for Marketing, since ALL funds are spent on ‘Liquidity Programs’ to prevent being delisted.


The Actual Request​


The ideal request would be that the Stakers also agree to drop their rewards. After much discussion, this is the suggestion.




However, it is not possible for MNOs to vote for Stakers. It is hoped that Stakers will agree to a reduction as well, but unless there is overwhelming vocal support in Discord and social channels, that may not happen until BIP8 signaling is available soon after v6.0 is released. As such, this is the request being made to the MNOs with this proposal.



Voting​


To vote yes:

mnbudgetvote many 9bb2492d259747559de670e79b0d403489e07ab1f7a761b3f26628a23ac7d9a3 yes


To vote no:

mnbudgetvote many 9bb2492d259747559de670e79b0d403489e07ab1f7a761b3f26628a23ac7d9a3 no
 
Last edited:

skironPIVX

New Pivian
I think the problem is unlimited supply. Even if you decrease the reward, it won't increase the volume. People will buy and hold in return for profits, but as supply increased the price goes down due to lack of demand, the lack of the demand is fear, "so what I hold if we have 1M a months extra and whoever bought in at lowest price, can handle selling as he goes". Now from observation of other projects once the price goes under ROI, it's not worth to pay for VPS, and then nobody wants it and the market is flooded, and there is no go back. Privacy? cool, but there other privacy coins with limited supply like ZEC, XMR, FIRO. So nobody needs PIVX for only privacy.
Sure DOGE is an example of overinflated coin, with huge unlimited supply, but this is pump and dump. The real value comes form limited supply, "if you don't buy today, may not be more for your next year". Looks at the housing market. The less houses the higher the price because buyers needs it and will pay, seller can increase the price. Marketing is important I agree, but basics of economy is more important
 

skironPIVX

New Pivian
Looks like Bittrex may be faking volume. There is no way this spike pump is only 2 PIVX volume, or was it 2BTC? Their policy used to be 0.5BTC average per day
 

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Eric_Stanek

Administrator
Staff member
@skironPIVX The PIVX supply is not unlimited. It is heavily restricted and coin supply actually decreases once transactions hit a certain point. Please refer to the PIVX Economics Whitepaper for details. Conversely, Zcash has a cap of 21M coins, but only has 12M in circulation so far. Therefore, it has much higher coin supply increases ahead of it.

FIRO made 2 releases in 3 days recently due to forking issues. I would bet they are not done fixing that issue. Not cool. XMR is PoW and no Staking rewards.

PIVX has a LOT going for it. Just need to get funds for Marketing to let everyone know!
 

RomeoX

New Pivian
@skironPIVX The PIVX supply is not unlimited. It is heavily restricted and coin supply actually decreases once transactions hit a certain point. Please refer to the PIVX Economics Whitepaper for details. Conversely, Zcash has a cap of 21M coins, but only has 12M in circulation so far. Therefore, it has much higher coin supply increases ahead of it.

FIRO made 2 releases in 3 days recently due to forking issues. I would bet they are not done fixing that issue. Not cool. XMR is PoW and no Staking rewards.

PIVX has a LOT going for it. Just need to get funds for Marketing to let everyone know!
What if we do a coinburn and reduce the supply by 50%?
 
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