Has anyone done the math on how many DRK a master node will actually earn? Let's say per month.
At 5$ a Darkcoin its 130$ a month
Really? 10 master nodes would earn $15600pa passive income at $5? And I think $5 is a very conservative price for DRK.
Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6257. (Read 9723748 times)
April 23, 2014, 08:42:04 PM
At 5$ a Darkcoin its 130$ a month
Really? 10 master nodes would earn $15600pa passive income at $5? And I think $5 is a very conservative price for DRK.
April 23, 2014, 08:30:01 PM
Has anyone done the math on how many DRK a master node will actually earn? Let's say per month.
At 5$ a Darkcoin its 130$ a month
Thanks, this is with how many nodes? Just noticed you said future shop, a canuck eh?
I think a dedicated windows server could be made safe as well, I'm not an IT person though, so I can only go by reputation. However, if you went with windows or macs and you don't know how to compile the source code on those platforms, you would probably always be waiting on someone to compile the program for you, whereas, all of these wallets are pretty easy to compile in Linux with about a million how-to's out there. Plus, using the direct source code, you'll never have to trust anyone's compilation- that it doesn't have malware in it. So I'd still recommend something like Ubuntu, which is easy to use, well documented, etc... for those reasons. Right now, Evan has it closed source so people don't copy something that isn't finished and possibly faulty, so those of us that have made a masternode, are trusting that it is free of malware (I trust Evan probably too much, LOL) But for wide adoption, it will be open source, and you'll see helpful compilations everywhere, but some of them will have little nasties in them if the current state of affairs with other coins is of any indication 
I will most likely be going the windows server route since I have a bunch of copies of 2003 laying around and a couple years working with it.
April 23, 2014, 08:25:57 PM
It really sucks that Doge is sticking with Scrypt, in saying that, most of the coins will have been mined by the end of the year anyway.
X11 will delay ASICS significantly, but if you want an ASIC proof coin, develop one that can easily be adapted to different hashing algorithms and switch to an undisclosed hashing algorithm once the ASICS are made available.
Or simply switch to POS, i feel that blackcoin should have been designed to switch to POS once mining blocks becomes too difficult, rather than in such a short space of time of only around a month.
I think we are going to see more POS coins popping up, and hopefully they will be switching to X11.
X11 will delay ASICS significantly, but if you want an ASIC proof coin, develop one that can easily be adapted to different hashing algorithms and switch to an undisclosed hashing algorithm once the ASICS are made available.
Or simply switch to POS, i feel that blackcoin should have been designed to switch to POS once mining blocks becomes too difficult, rather than in such a short space of time of only around a month.
I think we are going to see more POS coins popping up, and hopefully they will be switching to X11.
You have got to remember that most of the developers have probably already ordered their ASICs and they have much vested in the hardware. They're not about to let that go to losses.
April 23, 2014, 08:23:06 PM
Has anyone done the math on how many DRK a master node will actually earn? Let's say per month.
At 5$ a Darkcoin its 130$ a month
And how many masternodes? 10,000? Still that much?
April 23, 2014, 08:19:49 PM
Whats the best thing i could buy to create a masternode if its not good with my Windows 8 or Windows 7 computer?
You do need a static IP address, so if you want to make a masternode, you'd probably want to look into a vpn/vpc to rent? I don't know if I'd use windows to run one, that os is a bit too easily hacked into. It's good for other things, like being easy to use for a family desktop and gaming. I wouldn't even use my home Ubuntu computer because I still surf the web on it. I think you should have a dedicated server for this. But that's just my opinion. a VPC has it's own issues.
Well i own a building in town with a tanning salon, yoga, a spa, dentist upstairs and a furniture store. I was thinking of ordering a seperate internet for my masternodes and run it over there securely. My only issue is how do i physically get started. Youre saying windows is not safe so would buying a mac or linux be better? Im just confused at how to get this start, the static ip, vpn and all that i know how but i just want to know what i need to buy from Future shop to get this puppy going.
I think a dedicated windows server could be made safe as well, I'm not an IT person though, so I can only go by reputation. However, if you went with windows or macs and you don't know how to compile the source code on those platforms, you would probably always be waiting on someone to compile the program for you, whereas, all of these wallets are pretty easy to compile in Linux with about a million how-to's out there. Plus, using the direct source code, you'll never have to trust anyone's compilation- that it doesn't have malware in it. So I'd still recommend something like Ubuntu, which is easy to use, well documented, etc... for those reasons. Right now, Evan has it closed source so people don't copy something that isn't finished and possibly faulty, so those of us that have made a masternode, are trusting that it is free of malware (I trust Evan probably too much, LOL) But for wide adoption, it will be open source, and you'll see helpful compilations everywhere, but some of them will have little nasties in them if the current state of affairs with other coins is of any indication
April 23, 2014, 08:17:36 PM
Has anyone done the math on how many DRK a master node will actually earn? Let's say per month.
At 5$ a Darkcoin its 130$ a month
April 23, 2014, 08:15:54 PM
Has anyone done the math on how many DRK a master node will actually earn? Let's say per month.
April 23, 2014, 08:14:55 PM
I found some interesting commentary about X11 in the dogecoin subreddit:
http://www.reddit.com/r/dogecoin/comments/23fk2i/very_long_very_serious_development_summary_week/
http://www.reddit.com/r/dogecoin/comments/23fk2i/very_long_very_serious_development_summary_week/
Sigh what a pity. Both Doge and Litecoin are embracing ASICS. And the centralisation of mining power to people who need to turn a profit quickly just to keep mining. It's really sad actually. Even if they make it through arrival of the titan and whatever comes next what made them a community to begin with is gone - everyone mined a few doge with readily available tech around the world and thereby understood how it all works.
Been actively pushing for Doge to go X11 or at the very least anything other than ASICS.
Would be great for both Doge and Dark I believe.
Yep exactly. Embracing ASICs is the worst possible move DOGE can make. DOGE is supposed to be a fun, newbie friendly, tipping coin - specifically targeted at people that are new to crypto and excited at the chance to mine a few thousand coins on their laptops and gaming gpus. All these people over on /r/dogecoin spreading fear about a simple hard fork are either retarded/uninformed or are invested heavily into ASICs (more likely the ladder). Oh well, in the end it will probably be great for DRK, because there will be throngs of GPU miners looking for somewhere to go, and this will coincide with the dead heat of the summer in the northern hemisphere (making x11 the obvious winner). More DRK miners = lower supply = higher DRK price. I started mining DOGE on day 1 and really like their community so it is kinda bitter sweet tbh. :/
Don't forget, if ASICs continue to be successful (sales) then we too will face them eventually. Evan always considered that as part of the plan. His intent was simply to give Darkcoin (Xcoin at the time) time to grow first. But the plan was always to mimic the growth of bitcoin as much as possible.
I know X11 merely delays ASICS, it's not ASIC proof but it allows for a more gentle transition than what I fear is coming for Scrypt coins
It really sucks that Doge is sticking with Scrypt, in saying that, most of the coins will have been mined by the end of the year anyway.
X11 will delay ASICS significantly, but if you want an ASIC proof coin, develop one that can easily be adapted to different hashing algorithms and switch to an undisclosed hashing algorithm once the ASICS are made available.
Or simply switch to POS, i feel that blackcoin should have been designed to switch to POS once mining blocks becomes too difficult, rather than in such a short space of time of only around a month.
I think we are going to see more POS coins popping up, and hopefully they will be switching to X11.
April 23, 2014, 08:11:29 PM
Which type of virtual server (amazon) would you recommend for a masternode? HVM or PV? HVM being hardware isolated and with more overhead. Does it matter for what our masternodes do? I mean, is it better to go PV because it offers better performance?
April 23, 2014, 07:48:12 PM
Whats the best thing i could buy to create a masternode if its not good with my Windows 8 or Windows 7 computer?
You do need a static IP address, so if you want to make a masternode, you'd probably want to look into a vpn/vpc to rent? I don't know if I'd use windows to run one, that os is a bit too easily hacked into. It's good for other things, like being easy to use for a family desktop and gaming. I wouldn't even use my home Ubuntu computer because I still surf the web on it. I think you should have a dedicated server for this. But that's just my opinion. a VPC has it's own issues.
Well i own a building in town with a tanning salon, yoga, a spa, dentist upstairs and a furniture store. I was thinking of ordering a seperate internet for my masternodes and run it over there securely. My only issue is how do i physically get started. Youre saying windows is not safe so would buying a mac or linux be better? Im just confused at how to get this start, the static ip, vpn and all that i know how but i just want to know what i need to buy from Future shop to get this puppy going.
April 23, 2014, 07:43:55 PM
Will the hard-fork to pay masternodes happen with RC2?
That would be nice especially since my mining machine bit the dust, LOL.
April 23, 2014, 07:39:54 PM
Will the hard-fork to pay masternodes happen with RC2?
April 23, 2014, 07:37:51 PM
Whats the best thing i could buy to create a masternode if its not good with my Windows 8 or Windows 7 computer?
You do need a static IP address, so if you want to make a masternode, you'd probably want to look into a vpn/vpc to rent? I don't know if I'd use windows to run one, that os is a bit too easily hacked into. It's good for other things, like being easy to use for a family desktop and gaming. I wouldn't even use my home Ubuntu computer because I still surf the web on it. I think you should have a dedicated server for this. But that's just my opinion. a VPC has it's own issues.
April 23, 2014, 07:33:20 PM
Problem with a variable requirement would be that maybe I have a masternode now and after 10 minutes it's not a masternode anymore.
I think 1k DRK currently is the right amount, but once 1DRK > $10 it's going to be a little bit costy to run a few masternodes.
Long term a vote system that allows people to vote the minimum amount and it changes every few weeks, not often, could be an amazing way to go, and in order to vote probably should be by solving blocks.
I'm sorry but voting is a bad idea, we've seen how it messes everything up and causes havoc. I would say the developers need to make that decision based on facts and how things are going. If there aren't enough masternodes, they need to lower the amount based on critical thinking.
I understand your concern, but at some point, once the main work is done, the dev should not take decisions that modify important aspects of the coin (I'm talking really long term), the dev team should be there just to improve or fix bugs.
Now, I'm not talking about one vote in a forum or something, but within the coin, something similar to what HVC does to select the reward. Miners submit their vote, every time a block is solved the network will use its vote, and every some time (I think it's about 2 weeks with HVC) the network will update the block reward. This allows miners (who together with the holders and/or masternodes are who really support the coin and the network) to decide, in DarkCoin's case maybe both miners and masternodes could vote...
It would still be much safer for the coin to have a mechanism to adjust it according to price/number of masternodes/reward amount. If it's all automatic, then the coin will not have to be messed with at all, once launched.
April 23, 2014, 06:40:18 PM
I visited the land of coins last night. Unfortunately I left my camera and my drawing ability is that of a 3 year old.
Don't bring a sword to a gun fight.
https://www.youtube.com/watch?v=4DzcOCyHDqc
April 23, 2014, 06:00:59 PM
Whats the best thing i could buy to create a masternode if its not good with my Windows 8 or Windows 7 computer?
A VPS or a private server (host with DDOS protection) and ubuntu.
April 23, 2014, 05:53:28 PM
Problem with a variable requirement would be that maybe I have a masternode now and after 10 minutes it's not a masternode anymore.
I think 1k DRK currently is the right amount, but once 1DRK > $10 it's going to be a little bit costy to run a few masternodes.
Long term a vote system that allows people to vote the minimum amount and it changes every few weeks, not often, could be an amazing way to go, and in order to vote probably should be by solving blocks.
I'm sorry but voting is a bad idea, we've seen how it messes everything up and causes havoc. I would say the developers need to make that decision based on facts and how things are going. If there aren't enough masternodes, they need to lower the amount based on critical thinking.
Masternode requirements are going to be 1000DRK forever, for the following reasons:
- We need a bunch of masternodes, but more is NOT better. They cause chatter on the network saying they're still around and more memory usage everywhere. It's also more processing for the nodes to figure which to use.
- We want them to be reasonable expensive to start now and insanely expensive down the line.
- This will cause a feedback loop which will create upward pressure on price of darkcoin even making it more expensive to start one of these in the future (I detail this concept here: https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/)
- Every client on the network needs to keep a list of all of these, we don't want a list of 100k
- 10k masternodes @ $1000 is the same thing as 50k @ $200. The only difference is a lower barrier to entry and lower end equipment. In either case it would cost a million to add enough nodes to see half of the traffic.
- Also the clients need to download this list upon booting up
- There's also a consideration for the masternodes themselves. We have 576 blocks per day, If there's 10000 master nodes that means they'll on average get paid once every month and a half. I feel like if that number goes any higher we'll have nodes that won't want to wait to recoup their investment.
Very well thought out - fully support this approach.
The main selling point apart from providing anonymity and providing a store of wealth is that people will be paid (like PoS) to keep their coins. We definitely do not want a flood of masternodes which means getting paid only happens once in a blue moon.
I agree. I had my reservations about the DRK required for a masternode previously, but explained like that it makes good sense to me.
April 23, 2014, 05:53:17 PM
Whats the best thing i could buy to create a masternode if its not good with my Windows 8 or Windows 7 computer?
A USB stick to install linux on? 
April 23, 2014, 05:48:49 PM
Whats the best thing i could buy to create a masternode if its not good with my Windows 8 or Windows 7 computer?
April 23, 2014, 05:47:49 PM
Problem with a variable requirement would be that maybe I have a masternode now and after 10 minutes it's not a masternode anymore.
I think 1k DRK currently is the right amount, but once 1DRK > $10 it's going to be a little bit costy to run a few masternodes.
Long term a vote system that allows people to vote the minimum amount and it changes every few weeks, not often, could be an amazing way to go, and in order to vote probably should be by solving blocks.
I'm sorry but voting is a bad idea, we've seen how it messes everything up and causes havoc. I would say the developers need to make that decision based on facts and how things are going. If there aren't enough masternodes, they need to lower the amount based on critical thinking.
Masternode requirements are going to be 1000DRK forever, for the following reasons:
- We need a bunch of masternodes, but more is NOT better. They cause chatter on the network saying they're still around and more memory usage everywhere. It's also more processing for the nodes to figure which to use.
- We want them to be reasonable expensive to start now and insanely expensive down the line.
- This will cause a feedback loop which will create upward pressure on price of darkcoin even making it more expensive to start one of these in the future (I detail this concept here: https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/)
- Every client on the network needs to keep a list of all of these, we don't want a list of 100k
- 10k masternodes @ $1000 is the same thing as 50k @ $200. The only difference is a lower barrier to entry and lower end equipment. In either case it would cost a million to add enough nodes to see half of the traffic.
- Also the clients need to download this list upon booting up
- There's also a consideration for the masternodes themselves. We have 576 blocks per day, If there's 10000 master nodes that means they'll on average get paid once every month and a half. I feel like if that number goes any higher we'll have nodes that won't want to wait to recoup their investment.
Very well thought out - fully support this approach.
The main selling point apart from providing anonymity and providing a store of wealth is that people will be paid (like PoS) to keep their coins. We definitely do not want a flood of masternodes which means getting paid only happens once in a blue moon.
Jump to: