[ANN] MonetaryUnit [MUE] - POS. MasterNodes. Funding. Governance. Services. Devs - page 128.

110110101

legendary

Activity: 1382

Merit: 1002

Quote from: bizzyb on August 24, 2016, 04:02:16 PM

We've been testing our automated coin swap system developed by pjcltd (one of our devs).
It is currently working rock solid in the test net environment.

I don't want to be too hasty, but this could be the smoothest least hassle coin swap ever recorded?!
I hope so, if nothing else we are certainly aiming to make it as smooth and as efficient as we possibly can.

Hey BizzyB, this is used for moving coins from the current blockchain to the new X11 one?

portdavenport

full member

Activity: 166

Merit: 100

Interesting coin, just bought 300k MEU @ www.bittrex.com

Best of luck with the project Wink

rahmad2nd

legendary

Activity: 2548

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Leading Crypto Sports Betting & Casino Platform

Price Grow and Grow up...
keep positive, hope see 1k sat for 1 month Wink

Abiky

legendary

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www.Crypto.Games: Multiple coins, multiple games

Quote from: bizzyb on August 24, 2016, 04:02:16 PM

We've been testing our automated coin swap system developed by pjcltd (one of our devs).
It is currently working rock solid in the test net environment.

I don't want to be too hasty, but this could be the smoothest least hassle coin swap ever recorded?!
I hope so, if nothing else we are certainly aiming to make it as smooth and as efficient as we possibly can.

Great to hear the good news. MUE has been moving with a nice uptrend in price lately. I can't imagine how much MUE will be worth once the migration is finished. It will attract a lot of new investors and big market players thus making it a highly traded cryptocurrency. With this in mind, I hope that MUE goes all the way up from #223 towards the top #15 at least in marketcap. It may seem a little bit far from happening, but who knows? Crypto land is highly volatile and MUE may end up being on the top list in coinmarketcap if it gets the attention it deserves.

Being a MUE supporter myself, I have been committed towards holding it and helping spread its awareness wherever I go in college, at home, etc. Speaking of which, will a new ARM binary for Raspberry Pi be available once MUE migrates? It would be pretty handy to have one for the newest iteration of the coin, as I always play and learn with different cryptocurrencies on my RPi. Cheesy

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

We've been testing our automated coin swap system developed by pjcltd (one of our devs).
It is currently working rock solid in the test net environment.

I don't want to be too hasty, but this could be the smoothest least hassle coin swap ever recorded?!
I hope so, if nothing else we are certainly aiming to make it as smooth and as efficient as we possibly can.

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: Take the red pill on August 24, 2016, 03:37:51 PM

Quote from: wahyu5 on August 24, 2016, 03:37:52 AM

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved Cry

31/12/2016 - MUE price 20000 sats achived Grin

Ah, cheers man for the positive vibes

People like you are definitely welcome.

Take the red pill

sr. member

Activity: 416

Merit: 250

Quote from: wahyu5 on August 24, 2016, 03:37:52 AM

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved Cry

31/12/2016 - MUE price 20000 sats achived Grin

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: 110110101 on August 24, 2016, 04:56:52 AM

Quote from: bizzyb on August 24, 2016, 03:41:32 AM

Quote from: 110110101 on August 24, 2016, 02:16:21 AM

Quote from: bizzyb on August 23, 2016, 10:01:15 AM

MN collateral - Yes 0.4 BTC is about right at the moment. Any thoughts on that?
No. of MNs - No target number, just as many as possible. Any thoughts?
Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
Distribution - My opinion is that the distribution over the past 2 years is very good. Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange". My personal funds are around 6 million. The "project" holds about 4 million, and there are many many users with 1 mill +. Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

Ah cool, great to have you on board.

I think initially, at least for the first year or so, the % returns should be really good for MasterNodes, obviously over time the % return will deteriorate as more MNs come on line, however, the price should have significantly grown to more than compensate for that.
It's going to get very interesting.

Yeah we are actively running test net.
Feel free to get involved if you want, we tend to hang out in Slack
Auto-invite app is here https://mueslack.herokuapp.com/

Thanks for the slack link, I'll see about signing up.

I'd thought I'd post a long term inspirational graph from the lead developer of Dash, Evan Duffield:
https://bitcointalksearch.org/topic/m.15956429

Quote from: eduffield on August 17, 2016, 08:09:45 PM

...cut....

https://docs.google.com/spreadsheets/d/1BmfW0YGYrnWxRDsW3W3SQy2xdIqi2sArjP1hkiiuUsI/edit?usp=sharing

Each month we're gaining momentum, we started at about $13k/mo in October 2015 and currently next month we're going to have over $100k to spend. This is fantastic, it shows we can grow the ecosystem and as we do, we'll have more and more funding available for the next projects. The model is working, it's exciting. There's a definite relationship between making good investments for the network and the price appreciation, I believe they are causal.

The model really works, it provides funds for development and promotion. Spreading the word grows the user base, and as the node count goes up, the liquidity starts to go down and as the available tokens for sale decreases the price appreciates. Just imagine what kind of support can be given to the network when the blockchain can provide a $100K monthly funding. Something for MUE to look forward to in a few years time?

Yeah, it is a fantastic model which is established and stable and most importantly WORKS!

I had always had a vision for a "sustainable" model, and it just took time for things to develop so we could achieve that.

Hopefully in the coming weeks we too can start our journey down this road, and even if we only achieve 1% of that in the medium term, that still goes a very long way in growing this project.

Thanks for sharing the post.

110110101

legendary

Activity: 1382

Merit: 1002

Quote from: bizzyb on August 24, 2016, 03:41:32 AM

Quote from: 110110101 on August 24, 2016, 02:16:21 AM

Quote from: bizzyb on August 23, 2016, 10:01:15 AM

MN collateral - Yes 0.4 BTC is about right at the moment. Any thoughts on that?
No. of MNs - No target number, just as many as possible. Any thoughts?
Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
Distribution - My opinion is that the distribution over the past 2 years is very good. Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange". My personal funds are around 6 million. The "project" holds about 4 million, and there are many many users with 1 mill +. Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

Ah cool, great to have you on board.

I think initially, at least for the first year or so, the % returns should be really good for MasterNodes, obviously over time the % return will deteriorate as more MNs come on line, however, the price should have significantly grown to more than compensate for that.
It's going to get very interesting.

Yeah we are actively running test net.
Feel free to get involved if you want, we tend to hang out in Slack
Auto-invite app is here https://mueslack.herokuapp.com/

Thanks for the slack link, I'll see about signing up.

I'd thought I'd post a long term inspirational graph from the lead developer of Dash, Evan Duffield:
https://bitcointalksearch.org/topic/m.15956429

Quote from: eduffield on August 17, 2016, 08:09:45 PM

...cut....

https://docs.google.com/spreadsheets/d/1BmfW0YGYrnWxRDsW3W3SQy2xdIqi2sArjP1hkiiuUsI/edit?usp=sharing

Each month we're gaining momentum, we started at about $13k/mo in October 2015 and currently next month we're going to have over $100k to spend. This is fantastic, it shows we can grow the ecosystem and as we do, we'll have more and more funding available for the next projects. The model is working, it's exciting. There's a definite relationship between making good investments for the network and the price appreciation, I believe they are causal.

The model really works, it provides funds for development and promotion. Spreading the word grows the user base, and as the node count goes up, the liquidity starts to go down and as the available tokens for sale decreases the price appreciates. Just imagine what kind of support can be given to the network when the blockchain can provide a $100K monthly funding. Something for MUE to look forward to in a few years time?

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: wahyu5 on August 24, 2016, 03:37:52 AM

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved Cry

Yep, and now we look forward to the opportunities ahead.
No point living in the past Cheesy

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: antislip on August 24, 2016, 03:23:29 AM

faucet http://www.freemue.com/ can't open sir Huh

Ah yes, that is one of the services that is down due to our previous dev leaving us with no notice.
Sorry about that, please check out this other faucet
http://cryptoguru.tk/index.php?Currency=MUE

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: 110110101 on August 24, 2016, 02:16:21 AM

Quote from: bizzyb on August 23, 2016, 10:01:15 AM

MN collateral - Yes 0.4 BTC is about right at the moment. Any thoughts on that?
No. of MNs - No target number, just as many as possible. Any thoughts?
Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
Distribution - My opinion is that the distribution over the past 2 years is very good. Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange". My personal funds are around 6 million. The "project" holds about 4 million, and there are many many users with 1 mill +. Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

Ah cool, great to have you on board.

I think initially, at least for the first year or so, the % returns should be really good for MasterNodes, obviously over time the % return will deteriorate as more MNs come on line, however, the price should have significantly grown to more than compensate for that.
It's going to get very interesting.

Yeah we are actively running test net.
Feel free to get involved if you want, we tend to hang out in Slack
Auto-invite app is here https://mueslack.herokuapp.com/

wahyu5

sr. member

Activity: 729

Merit: 250

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved Cry

antislip

member

Activity: 185

Merit: 10

Tihosay – Your Money, Connected

faucet http://www.freemue.com/ can't open sir Huh

110110101

legendary

Activity: 1382

Merit: 1002

Also, a general remark, I noticed that I only had one active connection to the MUE network with my QT-wallet. With a secondary masternode network the amount of nodes should increase and strengthen the network overall.

110110101

legendary

Activity: 1382

Merit: 1002

Quote from: bizzyb on August 23, 2016, 10:01:15 AM

MN collateral - Yes 0.4 BTC is about right at the moment. Any thoughts on that?
No. of MNs - No target number, just as many as possible. Any thoughts?
Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
Distribution - My opinion is that the distribution over the past 2 years is very good. Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange". My personal funds are around 6 million. The "project" holds about 4 million, and there are many many users with 1 mill +. Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

110110101

legendary

Activity: 1382

Merit: 1002

Quote from: bizzyb on August 23, 2016, 10:01:15 AM

MN collateral - Yes 0.4 BTC is about right at the moment. Any thoughts on that?
No. of MNs - No target number, just as many as possible. Any thoughts?
Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
Distribution - My opinion is that the distribution over the past 2 years is very good. Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange". My personal funds are around 6 million. The "project" holds about 4 million, and there are many many users with 1 mill +. Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

0.4 BTC seems to be a good entry level. Compared to Dash where a masternode is currently 23 (!) BTC.
Locking away as many MUE creates less liquidity on the market and can help the price increase. Additionally the more nodes the stronger the network, and at some point an equilibrium will be reached.

will comment more later, gotta catch a train Wink

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: 110110101 on August 23, 2016, 09:23:06 AM

Quote from: bizzyb on August 23, 2016, 08:23:15 AM

Quote from: 110110101 on August 23, 2016, 07:14:43 AM

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

Hi thanks for dropping by.
Yes the plan is to have a similar reward model.

Block reward will be 40 MUE per block.
Each block is 40 seconds (or there about)
As with Dash
the POW reward will be 45% per block
The MasterNode reward will be 45% per block
and 10% will fund development, marketing, etc The "project" fund.

We have agreed on 500k MUE per MasterNode
https://bitcointalksearch.org/topic/the-mue-masternode-conundrem-1582356

and X11 was also agreed on
https://bitcointalksearch.org/topic/monetaryunit-coin-swap-poll-1564635

The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration.

OK Thanks for the info!
So it would be at present roughly 0.4 BTC to have enough X11 MUE for setting up a masternode. Does the project have a target as to how many masternodes are required to secure the network, or is it as many as possible? As per the Dash governing model I assume that you are looking into a similar voting system for making decisions as to how the project will develop? If so, I would encourage the MUE team to look into creating a user friendly site like dashcentral.org to aid in proposal voting. Having a graphical interface helps rather than copy&pasting commands to the wallet console.

What does the distribution of MUE look like? Looking at the rich lists it seems Bittrex holds the largest wallets. Any risk of having an exchange take control of the development funds of MUE?

My pleasure, thanks for getting involved.

MN collateral - Yes 0.4 BTC is about right at the moment. Any thoughts on that?
No. of MNs - No target number, just as many as possible. Any thoughts?
Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
Distribution - My opinion is that the distribution over the past 2 years is very good. Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange". My personal funds are around 6 million. The "project" holds about 4 million, and there are many many users with 1 mill +. Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

110110101

legendary

Activity: 1382

Merit: 1002

Quote from: bizzyb on August 23, 2016, 08:23:15 AM

Quote from: 110110101 on August 23, 2016, 07:14:43 AM

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

Hi thanks for dropping by.
Yes the plan is to have a similar reward model.

Block reward will be 40 MUE per block.
Each block is 40 seconds (or there about)
As with Dash
the POW reward will be 45% per block
The MasterNode reward will be 45% per block
and 10% will fund development, marketing, etc The "project" fund.

We have agreed on 500k MUE per MasterNode
https://bitcointalksearch.org/topic/the-mue-masternode-conundrem-1582356

and X11 was also agreed on
https://bitcointalksearch.org/topic/monetaryunit-coin-swap-poll-1564635

The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration.

OK Thanks for the info!
So it would be at present roughly 0.4 BTC to have enough X11 MUE for setting up a masternode. Does the project have a target as to how many masternodes are required to secure the network, or is it as many as possible? As per the Dash governing model I assume that you are looking into a similar voting system for making decisions as to how the project will develop? If so, I would encourage the MUE team to look into creating a user friendly site like dashcentral.org to aid in proposal voting. Having a graphical interface helps rather than copy&pasting commands to the wallet console.

What does the distribution of MUE look like? Looking at the rich lists it seems Bittrex holds the largest wallets. Any risk of having an exchange take control of the development funds of MUE?

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: 110110101 on August 23, 2016, 07:14:43 AM

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

Hi thanks for dropping by.
Yes the plan is to have a similar reward model.

Block reward will be 40 MUE per block.
Each block is 40 seconds (or there about)
As with Dash
the POW reward will be 45% per block
The MasterNode reward will be 45% per block
and 10% will fund development, marketing, etc The "project" fund.

We have agreed on 500k MUE per MasterNode
https://bitcointalksearch.org/topic/the-mue-masternode-conundrem-1582356

and X11 was also agreed on
https://bitcointalksearch.org/topic/monetaryunit-coin-swap-poll-1564635

The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration.

Topic: [ANN] MonetaryUnit [MUE] - POS. MasterNodes. Funding. Governance. Services. Devs - page 128. (Read 450689 times)