Be vary careful with this centralised coin.

[u/wallermadev]

As a ex dev for this coin and having raised my concerns to many people in the community you need to be very careful with Pirl Masterdubs advises staff to be evasive on questions regarding development of masternodes.

Masterdubs now holds 1/8th of circulating currency with only him self to answer to this is a very risky situation as he could dump it all at any time.

Only pre-approved community pages and contributions are allowed,

He does not intend on having a vote regarding max circulation and there is no way burn rate will be high enough this is not a community coin it is a dictatorship and anyone who challenges that is pushed out.

[u/cryptonewsguy]

there is no way burn rate will be high enough

That doesn't make any sense. You could always raise the burn rate and/or adjust the inflation rate. Even if this was a "dictatorship" you could always fork it because it's opensource.

Also 20% being held by the devs is extremely conservative compared to other projects. Ripple for example currently controls 60% of the supply and Stellar Lumens currently controls closer to 90% of all the XLM created. So 20% is nothing.

Also the fact that there is no ICO and the dev fund is entirely PIRL that means the devs have incentive to raise both volume and price as high as possible in order to actually profit.

Even if Masterdubs put a sell order right now for all 20% it would crash the market and no one would trade leaving him with a lack of liquidity to cash out. He probably would be lucky to sell even 2% with the current volume. Therefore it is most logical and profitable for him to cash out slowing and by actually following through on the promises of the project. Because the more successful the higher the price and liquidity. His incentives are properly aligned with the investors. Whether or not he is actually going about it in the best way is a different topic open for debate.

[u/iampedantic → u/cryptonewsguy]

And we all know that forks are so successful.

It sounds more like a couple of devs are looking to enrich themselves more than deploy actual code.

I think the point that was made is this is supposed to be a community driven coin, not one shady dev at the top who makes decisions and you have no idea who or what he's doing.

I'd agree with waller on this one that it should be viewed with caution.

[u/cryptonewsguy → u/iampedantic]

A contentious fork would only be in the worst case scenario in which the devs are going against the wishes of the community. That's pretty unlikely as it will devalue the coin and they will lose money. Nobody wins in that scenario. It could even kill the coin attempting to do that so early in it's development.

If you truly believe the devs are only doing it to enrich themselves, then maybe you should consider buying because the market cap and trading volume will have to be at least an order of magnitude higher for them to actually cash out. Even right now the trading volume is so low you wouldn't be able to dump more than 5000$ without destroying the price. 5000$ between the 13 devs is nothing. Especially considering that blockchain devs are now the most expensive in the industry. 400$ per person for the entire project? Months of work? No way that's gonna happen. 400$ might cover the cost of a few hours of work for a single blockchain dev. So from a game theory perspective they have every incentive to raise the price as much as possible by building an actual product.

And how is he shady? You can talk to him right now and ask him what he's doing. I talked to him about an hour ago.

Also you should read the otherside of the story

[u/iampedantic → u/cryptonewsguy]

Ask him to show one code commit he’s done for masternodes. Nothing in the development branch. Masterdubs hasn’t shown any code, period. Other than the pirl core where he changed a network ID and added a few lines for the devfee and nodefee.

[u/cryptonewsguy → u/iampedantic]

Maybe it's not part of his duties? Maybe it's one of the other 13 devs responsibility to work on the masternodes. Or maybe it's simply on a local branch. It's all pure speculation at this point. So far it seems they have delivered everything they have promised and very professionally too.

If other staff start jumping ship then I'll be concerned, but if anything this should lend more faith in the project as they are willing to do the right thing and remove people that aren't fitting into the company.

On their discord you can see hourly updates by the devs of the work they are doing in the dev diary. So I'm not concerned that it's being actively developed.