Proposal - listing BBP on GIN MN platform

[jmmc]

GIN is a few-clicks platform for hosting masternodes already supporting tens of of various MN projects.

Listing fee is 300 GIN (300 GIN = 0.2 BTC = 1.9M BBP no proposal (depending on price, rest will be sent back to BBP foundation).

Having BBP on this platform would take BBP MN on another level and reach much greater MN investors audience. It's also very handy platform for MN owners who don't want to bother with things like VPS configuration and node maintenance.

Feel free to ask further questions if you have any.

Links:
https://gincoin.io/
https://p.gincoin.io

[jmmc]

It appears the users are changed 50c per day for hosting, if I'm reading this correctly, this is a terrible deal for them and I'd recommend against it.

It was always 50c per day for hosting (and support - upgrades, monitoring, etc.). It's fair price imho and over 4,000 hosted masternodes there speak quite aloud for it.

[jmmc]

Ok, the cost of $14/month for users seems pretty high to me given you can run the Sanctuary on a $5 Vultr VPS (or really on much cheaper VPS too).   it worth noting that nearly half of their hosted MN are Gin coin nodes, but its an interesting idea nonetheless!

Yeah, these are quite common arguments. Bottom line is that serious MN holders don't care that much for those additional 10$ they spent on GIN platform per month per node because they save lot of time that is worth much more than that and they have all their supported MNs under one roof (seeing immediate status, reports, etc.) and knowing that someone takes care about their MN nodes. And that's quite priceless. It's like taking a taxi vs driving (and maintaining) your own car. This taxi is actually pretty cheap.

[jaapgvk]

Yeah, these are quite common arguments. Bottom line is that serious MN holders don't care that much for those additional 10$ they spent on GIN platform per month per node because they save lot of time that is worth much more than that and they have all their supported MNs under one roof (seeing immediate status, reports, etc.) and knowing that someone takes care about their MN nodes. And that's quite priceless. It's like taking a taxi vs driving (and maintaining) your own car. This taxi is actually pretty cheap.

So, if a masternode crashes of forks or whatever, they will notice this and fix it for their users? Because guaranteed uptime would indeed be a pretty sweet deal for some users I think.

[jmmc]

So, if a masternode crashes of forks or whatever, they will notice this and fix it for their users? Because guaranteed uptime would indeed be a pretty sweet deal for some users I think.

Yes, exactly, they do all the server work. You only need to take care of the controller wallet actions when needed.

[jmmc]

BTW I created proposal in the wallet but it's not shown in the proposal list. How many confirmations are needed before it's there?

[togoshigekata]

What other services are out there that are competing in the same space as GIN? How does GIN compare?

I think it would be cheap to buy enough coins for a low cost masternode and test out the GIN platform

=

https://gincoin.io/#about

- "One-click 3rd party blockchain masternode setup"
- "Masternode setup & administration UI"

In Development:
- "Shared masternodes UI"

=

White Paper:
https://gincoin.io/whitepaper.pdf

"GINcoin aims to solve two big issues that are currently
holding Masternode coins back and impeding their
rightful ascent:

1. Deploying and running a Masternode requires
significant technology know-how:
a. Deep understanding of the blockchain
b. Launching & maintaining a server
c. Setting up of masternode software

2. Setting up a Masternode requires considerable financial efforts (and, as detailed below, trust)
The two problems force investors to rely on Shared Masternode groups and schemes, usually lead by a
developer willing to do the work in exchange for a share of the Masternode (or its generated rewards).
This forces a trustless-system to work in a trust-dependent way, and not few are the cases where
ill-intentioned individuals scam investors and keep the collateral for themselves."

[jmmc]

I created the proposal, paid 2500, txn is confirmed but unfortunately it doesn't show in proposal list so it seems there might be a bug and proposal is somehow broken  (txn: 20f0dbcdef42f50eaac0ef3b878865d7fffd5828024e3da88dbb7f16b8a802c7 ). So if anyone of you can create valid proposal, feel free to do so.

[jaapgvk]

I created the proposal, paid 2500, txn is confirmed but unfortunately it doesn't show in proposal list so it seems there might be a bug and proposal is somehow broken  (txn: 20f0dbcdef42f50eaac0ef3b878865d7fffd5828024e3da88dbb7f16b8a802c7 ). So if anyone of you can create valid proposal, feel free to do so.

I do not see the proposal in my wallet. I think it's best if you contact Rob at [email protected].

[jmmc]

Thanks to Rob, I was able to create the proposal again, successfully this time. All sanctuary owners are free to vote.

[jmmc]

GIN have of experienced developers just for this service maintenance, support and future development and platform is  already working very well. It supports about 70 MN projects already and growing. Also bringing shared masternodes feature soon. It would be very difficult to compete, definitely for 14 USD/month. Maybe for half price if you can bring low-cost usable platform. Moreover there are some other services similar to GIN (not as good) so it's quite competitive environment already meaning that it's harder to succeed. In summary this is imho not a good way to go for BBP. Listing on GIN platform makes much more sense to me and will help BBP in multiple directions. 

[sunk818]

I can rent a reliable VPS for $1/mo. See lowendbox or lowendtalk. DIY is certainly less expensive route, but maybe for financial types that don't want to deal with the technical aspects (just want payout to wallet), its not a bad idea. If we do something in-house, then we could charge a fee but receive it as BBP and sent it all to donation for charities. This will be a marketing advantage because revenue is not for profit and goes to charity.   Whatever direction is taken, this would open a new marketing angle to churches where they set up a recurring donation vehicle. You could support compassion ongoing with the payouts from the masternode (sanctuary).

[znffal]

I like the idea, but the timing is off in my opinion.
Right now we have a full monthly budget and this would push us over budget. With our low price we are struggling to pay our charity expenses.
I'd be open to this in the future when the market recovers (same for your other proposal MCT+)

[jmmc]

VPS for 1$ sounds almost unbelievable. If the spec if enough for MN then it's really something to think about.

[jmmc]

I understand that BBP price and budget is tight but BBP needs to be expanding and be visible to various platforms to keep pace. To be on GIN is imho more significant than be listed on CoinExchange.IO which is just another (not very significant) exchange. BBP doesn't need to be on more small exchanges but there should be complete ecosystem around BBP in terms of various services and uses cases. It means:

1) small exchanges(5) : SouthXchange, C-CEX, CryptoBridge, CoinExchange, QIEX
- DONE (not one of them is in TOP100 exchanges), no need to invest in this area even single BBP in the future imho
2) MN hosting platforms(0): this is where GIN goes (and you can already vote for it)
3) Alt P2P / escrow platforms(0): this is where MCT+ goes (you can also already vote for it)
4) payment processor(0): like bitpay, coinbase, etc. (beyond BBP size budget right now)
5) big exchanges(0): like bitfinex, binance (TOP10 exchanges - that's beyond BBP size and budget right now)

You see, BBP has 5 small exchanges but nothing else from this list. That's why I believe we need to leave any effort to list another small exchanges but to focus on other types of platforms where BBP is yet missing. Big exchanges and payment processors are currently beyond BBP budget. What we can do now is to make BBP present on MN hosting platform (like GIN) and P2P escrow trading alt platform (like MCT+) for decent money. That would mean to have 3 of 5 ecosystem groups covered plus bringing additional exposure and PR to BBP.

Whoever wants to build special BBP hosting platform, feel free to do it but it imho doesn't substitute being listed on GIN. It would be similar effort like to build your own exchange and thinking that is the same like to be listed on Binance. It's not.