A week ago votings about some of the Telos fundamentals ended and we now have a full list of Telos version 4 fundamentals that based upon a Twitter comment should come in effect at some point in December.

As far as I can see, voting results stayed, at least seemingly, exactly the same as they were when I wrote the news item about the votings.

This means that while the option of having only 300K collaterals on Master Nodes was a clear winner, that didn’t really matter since another voting result about POS/MN split was that Telos will move to full POS which means that there won’t be any Master Nodes any more, and hence no collateral for them either.

Catching up on the old news a bit.

Already a month ago a vote about adding a Lottery Block to Teloscoin passed with a tight 2 vote difference, that was: 2 votes against 0.

Since this change requires making a fork, and making a fork is no small task, there are now a couple of other votes going on right now to do some more changes at the same time as adding the Lottery Block.

As “Lottery Block”-voting passed (haven’t told that to you yet), while doing the change to reflect the addition of a monthly Lottery Block, why not vote about other Telos Fundamentals too to see if some more changes should be done at the same time, especially when considering that the latest halving came by surprise and hence no voting about fundamentals were done.

Dashboard therefore now has two votings:

One about POS/MN split, and another about The Master Node collaterals.

Masternode Collateral options are following:

1. 1K / 10K / 30K / 1M / 3M
2. 1K and 100K
3. only 1K
4. only 100K
5. only 300K

Right now the option 5 is winning with 767 votes, and the only other option that seems to be having votes is option number 4. However, due to how the dashboard displays those votes, it is difficult to say how many votes number 4 has, maybe 50, so well behind option number 5.

This Masternode Collateral voting however might not have any relevance in the end, since the other voting is about the split between POS and MN.

POS/MN split options are following:

1. 50/50
2. 30 POS / 70 MN
3. 10 POS / 90 MN
4. 90 POS / 10 MN
5. 100 POS

Option number 5 means there will not be any Masternodes anymore, but only Proof of Stake, which by other words mean wallet staking, and right now it looks like Option number 5 is winning by slide, for option number 5 currently has a whopping 120 105 votes for it and due to how dashboard displays votes, I can’t really see if any of the other options have any votes or just some compared to this option.

What do these changes mean in practice?

well, Masternode collaterals give a different kinds of options. Like currently as we have had 100k – 10M nodes, it means that entry to master nodes is a bit expensive compared to 1K nodes, and such high options like 10M seem to have also contributed to having perhaps even too few nodes since the network has had problems every now and then.

Few nodes however is not automatically a problem.

having only for example 100K nodes, would increase the number of nodes, and keep things simple, since each node is always just that 100K, and also theoretically increase network stability, however, in practice it also tends to mean that people who want to run 10M worth of nodes (that’s hundred 100K nodes) might look at cheapest possible options, which in practice results in bad nodes, and bad nodes result into a bad network.

When it comes to POS / MN split, this naturally affects the appeal of running nodes. Less for MN, less appealing it is to run one, which naturally affects the number of nodes.

However, especially since now the 100 POS option is most voted, which I personally hope will win, I will point some pros and cons about that.

One bad thing is that currently Blueboxes are at least theoretically running a Telos master node. With 100 POS, they might not be doing so anymore. So those rewards might be gone for the bluebox owners, although there isn’t really any reason why blueboxes couldn’t change into running 24/7 wallets instead to support the network, except as far as I have understood, blueboxes are not running master nodes currently, but owners have anyway been paid the amount of Telos they would have received if 100K masternodes had been run on them.

Another bad thing is that Telos will lose some visibility, for example places like masternodestats.info list master nodes and their profits, but if Telos moves to fully POS, will masternodestats.info update its system to also show full POS Telos, or simply remove it from the list?
While masternodestats.info, I hope, will update POS Telos to its list, many other places might not.

To me, good things however outweigh those bad things like possibly losing my Bluebox Telos income.

For one thing is that POS is very simple. You just keep your wallet open and Telos inside it and you can get more. This is very beginner-friendly compared to running master nodes where just setting up one takes a lot of know-how, and on top of that if you don’t know what you are doing you might end up messing the whole Network, like happened with Telos 1 when we had over 10 000 Master Nodes in the network and many of them were run by noobs or people who didn’t care but just tried to squeeze every penny out of it with the cost of network stability.

This beginner friendliness might well attract some new people into Telosland since you buy some amount of coins and they start getting more very easy.

Another problem solved is that Teloscoins codebase is based upon PivX, and as far as I have understood, there seem to be lots of bugs in PivX code that haven’t really been fixed by most of the PivX based coins. And to my understanding many of these bugs have to do specifically with Master Nodes.

One exploit bug was actually tried to be fixed in Teloscoin once, but since not enough master node owners started running the new fork, the new fork couldn’t get off, and hence the fix never happened.

Which also gives one more reason to go to full POS. Who says we have enough master node owners who care to update to the next fix fork either?

Of course this doesn’t mean that wallet users will do any better, but at least it is easier to just update your wallet and start it, than setting up an updated master node. So my guess is getting new forks with changes in effect will be easier with full POS, and we already know that at least master node owners failed us once.

If you are not happy with how voting is going on currently, or if you wish to make sure it goes as it now looks like, now is the time to go to your Dashboard to vote on the options.

You have time to vote until 5 pm (UTC) on the 29th of October, which is roughly one week from now, and each vote costs 1 Telos, and you can cast as many votes as you like to the options you like.

edit 25.10.2021:

According to the username halalsolutions message on bitcointalk thread “old Transcendence ANN”, it seems my understanding of Blueboxes mostly not running Telos master nodes anymore was confirmed.

However, it would also seem that my understanding of the basis of today’s bluebox payments is wrong.

As said in the article, I thought the basis on payments was on “virtual” Telos master nodes, but appears, according to halalsolutions message, that the basis has been in some sort of storage renting system, probably something similar, if not the same, to what Project Alexandria is supposed to have in Blueboxes.

When in the article I said that full POS could remove bluebox income, halalsolutions seems to think it could rather triple the bluebox income since according to him, bluebox rental income is based upon the collateral represented by blueboxes, and full POS would mean more income since blueboxes represent most of the collateral. I don’t know if halalsolutions is right, but my guess is that halalsolutions is better aware of the system than I am.

Dashboard has interesting voting going on that will end a week later on the 23rd of September.

The idea is about adding a lottery block each month.

This means that the regular reward would be the current 25 new coins per block, but once a month there would come a block that would yield 300 000 Coins to the one who gets it.

Since this is not actually a Lottery, but a blockchain feature, no Lottery laws apply to this, but only regular mining rules.

There are only two options, “Yes” and “No”, and currently only 2 votes have been cast, both for the “Yes”-option.

Whether you wish to show your support or disagreement to the suggestion, you may do so for the price of 50 Telos per vote.

As mentioned in previous weeks news item, there was voting about whether to list XBTX to Graviex Exchange or not, and this voting has now come to an end:

And it was successful. 1200 votes were needed, 1201 was given, and option 1, which was “Yes”, was the only option getting votes.

In his comment on Saturday, Pascal mentioned he will contact Graviex about listing XBTX on Monday – that be today.

However, there has been some discussion in the discord channel by community members if it would be possible to instead list XBTX to TradeOgre Exchange. So far this discussion hasn’t gone to a serious level, but it does seem at least some people are thinking TradeOgre as a good alternative, so if you wish to push this idea forward that instead of listing to Graviex, list to TradeOgre, hurry up to Discord and voice your opinion, and perhaps there comes a new vote either to dashboard or in discord.

For a couple of days now there has been in the dashboard voting about adding Bitcoin Subsidium (XBTX) to Graviex:

To put it simply, one vote costs 1000 Telos, and you can either vote “yes” or “no”.

Usually those voting “no” don’t actually vote, but in case you like to do that, you can, in which case if “no” wins, the amount collected will be passed to the next similar kind of listing a coin to some exchange vote.

Actually, this will also happen in case “yes” wins but there are not enough votes to pay for the Graviex listing price, which is 1.2 Million Telos, or 1 200 votes in votes.

On the 10th of Aug there were 163 votes there, so could use some more love, especially since Pascal is matching with one vote for each “yes” vote, making the community need to vote only 600 votes in total from which 1/4th might already be there.

While I did like it when XBTX was all in Bitdorado only, since it was nice seeing all trades in one place, I however voted “yes” myself too since the idea with this Graviex listing is that it would be the third exchange that Coingecko and similar accept and demand. That the idea isn’t actually so much in getting XBTX to Graviex, but in getting XBTX listed to Coingecko and similars, and they demand 3 exchanges that they approve, and Graviex would be the 3rd one. And this then again opens more opportunities for the conquering of the world for our dear Bitcoin Subsidum (XBTX).

Do notice that basically voting is open until the 14th day only, but in the description it explains that if the vote hasn’t reached its target, then voting will be extended.

Now is a good time to try Dashboard’s new voting system which is much simpler than before. No more manual transactions, but you just confirm you want to vote “yes” or “no”, and the rest is automatic.

As written before, there were 3 Bounty votes on Dashboard. These votes however are now over and to my great disappointment, it appears TELOSNEWS.COM news item about them had no effect at all since the end results stayed exactly the same as at the time when they were reported here.

By other words:

“Telos LED-Screen advertising” received 150 Votes and this is probably considered a succesful vote.

“New Listing at Probit Exchange” received only 9 votes, and I doubt that listing is going to happen with that amount yet.

And last and obviously least, “Creating Complete Whitepaper” didn’t get a single vote meaning that only one allowed to complain about missing whitepaper anymore is Bitcoin_Bond_007 who had promised to give half of the price as long as the other half had come from votes, which didn’t.

There are currently 3 different Bounty/Votings on Dashboard that you can participate in.

First one to close, less than a week later, is TELOS LED-SCREEN ADVERTISINGS voting.

Which, as the name already suggests, is about collecting some Telos to Fund some modern-day billboard advertising, which nowadays is being handled by LED-Screens instead of actual physical posters.

I first thought what a silly idea to use Billboards to advertise Cryptos until Discord user Bitcoin_Bond_007 told me how these things work nowadays. Apparently, due to the LED-Screen nature, you could have them show only for one specific hour, and only in some specific locations, making it both cheap and effective.

As an example, suppose there is a Crypto coin conference in Berlin. Now imagine then that this conference opens on Friday at 7 PM. Well, how about having LED-screens showing Telos from 5 pm to 7 pm on all the roads that lead to the conference place?
You only need a couple of those Led-Screens and only for a very short time, meaning the price is not that high, and yet, the audience is very targeted!

I admit, I had completely missed where modern day billboards are nowadays, but likely not everyone was as out of date like me and this have so far received 150 votes, which in Telos means 150k Telos since one vote costs 1k Telos. So looking good, but could use some more still.

Second one to close, bit less than a month later (21st April), is “New Listing at Probit Exchange”-voting

This is about getting Telos listed at Probit Exchange, which CoinMarketCap seems to be ranking as number 26 exchange at the time of writing this.

Similar to the previous voting, in this one too each vote costs 1k Telos and so far it has got only 9 votes. So if you like to see Telos listed on more Exchanges, here is your chance to make it happen by giving it some more votes.

Last one to close (22nd April) is “Creating Complete WhitePaper”-vote

This is for all you who have been complaining about Telos not having proper White Paper.

As you might know, Pascal doesn’t really like making a White Paper, hence there is now a vote/bounty for this specific purpose to hire someone proper to make a proper White Paper.

Like in the previous two, each vote costs 1k Telos and the vote target is 50 votes, but the real target is actually 100k Telos. It is just that BitCoin_Bond_007 has promised to give the other 50k, as long as voting gets the first 50k.

Currently Whitepaper vote has 0 votes, meaning that either you people who complain about missing proper white paper stop complaining about it, or you go and do some voting.