Topic: [ANN][DRIP][POS][MN] Now offering masternode monitoring and hosting services - page 17. (Read 5925 times)

Hi, mining has already begun - but DRIP itself is not mineable. You need to mine LUX of RVN to an address owned by DRIP and, instead of the LUX or RVN, you would receive DRIP. We are not going the approach of selling masternodes. DRIP want to be funded by miners, not masternodes. As such, miners are the ones who stand to make big money here - not those with a load of bitcoin to buy masternodes.

You need to:

Download the DRIP wallet;
Generate a DRIP address;
Private message us your DRIP address requesting a DRIP-owned LUX or RVN address;
Mine to that address via a pool of your choice;

DRIP would then receive the LUX and RVN and sell it to fund exchange listings. We would send you DRIP for your mined coins at a rate of 1.7 RVN = 1 DRIP or 0.01 LUX = 1 DRIP.

You can contact us privately either here or on Discord.

Our wallets are available at: https://github.com/DRIP-Project/DRIP/releases/tag/v1.0.0.5. This wallet will not connect to any nodes or synchronise until 9pm GMT tonight - as the blockchain hasn't yet kicked off so there's nothing to sync to.

Mining will continue for at least one month - and the first DRIP payouts will be later today when we release a wallet update to allow you to connect to nodes and synchronize.

Hi, no coins or masternodes can be bought. We offer coin distribution via mining alone.

You need to:

• Download the DRIP wallet;
• Generate a DRIP address;
• Private message us your DRIP address requesting a DRIP-owned LUX or RVN address;
• Mine to that address via a pool of your choice;

DRIP would then receive the LUX and RVN and sell it to fund exchange listings. They would send you DRIP for your mined coins at a rate of 1.7 RVN = 1 DRIP or 0.01 LUX = 1 DRIP.

You can contact us privately either here or on Discord.

Our wallets are available at: https://github.com/DRIP-Project/DRIP/releases/tag/v1.0.0.5. This wallet will not connect to any nodes or synchronise until 9pm GMT tonight - as the blockchain hasn't yet kicked off so there's nothing to sync to.

Where people can buy these coins?

how many hours left until mining? can we solo mine? pools?

We're on the home-straight now with the blockchain kicking off at 9pm (GMT) tonight. The number of miners mining LUX or RVN in order to receive DRIP is growing exponentially. This mining of LUX or RVN will continue for the next one month period.

I read  with the WP of the ICO  project! I like ico project collective, people from business and science. Blockchain in the real economy, which is interesting from this turn out. I already participate.
egretia

Only 28 hours to go. Get your LUX or RVN address now if you want to be in the game from block 1 

Thanks cattano. There's not long to wait now. We'll be kicking off the blockchain tomorrow at 9pm GMT.

The current wallet can be downloaded here: https://github.com/DRIP-Project/DRIP/releases/tag/v1.0.0.5. There'll be a new version tomorrow but that's just to update checkpoints and protocols at the back-end. It won't change anything visible to the user.

The look on the wallet is really interesting, it shows as a simple apps, I think it should be easy to use it.
Looking forward to have it fully working.

Here is a link to how our running wallet looks:

We are one day away from official launch and membership of our Discord group is growing nicely. Join now to get in on the ground floor - and the only floor where miners get a piece of the pie 

I'm getting some questions on Discord related to our Discord Invites bounty that I thought I'd share here:

• our invite bounty works differently to most
• instead of receiving a set number of coins, the person with the most invites on a daily basis will receive a 5% share of a shared masternode that DRIP will run
• the winners will each earn 1/20th of what a masternode earns - paid out by the DRIP team to their address on, at least, a weekly basis
• when each masternode share winner has been paid 4500 coins, the shared masternode will be shut down and the 500 coins from the 5% share will be sent to the each of the winners
• so, by winning a share of a shared masternode, each winner will receive 5000 coins from the DRIP team
• of course, with coins being paid out weekly, the winners will have staking rewards on masternode earnings if they stake too
• so, it's likely that each masternode winner will have a masternode of their own, or very close to it, by the time the program is finished

We have just awarded the 4th out of a total of 20 shares.

No problem. To give you a better understanding of the features, you should read the wiki link above related to Zerocoin. Perhaps view the Youtube video related to the automint feature offered by PIVX, and now DRIP, here: https://www.youtube.com/watch?v=tbas3Vip-ww.

Alternatively, if you'd just like a really over-simplified description of why we've temporarily disabled zerocoin (privacy), think of a Proof of Stake currency starting out. It has a low number of users and it's difficult to tell how many will stake and how many will have their wallets shutdown. If each of those users had only one UTXO (unspent transaction output - the money they've received), and all were staking privately, then 200 of those users will be inactive from a staking point of view at any one time.

Thank you about your answer, I'm a Newbie and I don't know exactly how this work, but I'm trying to understand your words better.

Hi Maverik93. There's a simple answer and a more complicated answer here (isn't there always  ).

The short answer, and this will hold true for the first 7 months of our life, is 101+ confirmations which, with 1 minute blocks, means 1 hour 41 minutes.

The more complicated answer revolves around the fact that we're a privacy coin, our privacy protocol is based upon the Zerocoin protocol (https://en.wikipedia.org/wiki/Zerocoin) and we will be offering a 'private staking' feature in 7 months time.

Therefore, in 7 months time, the simple '101+ confirmations' answer will change to '101+ confirmations if staking DRIP or 200+ confirmations if staking privately via zDRIP (which offers a bigger block reward for stakers)'.


You may question the reference to '7 months' above. Basically, the private functions of our wallets will be disabled for the first 7 months for some quite technical reasons related to how the outputs of cryptocurrency transactions work, the number of confirmations required after winning a stake before being re-eligible for staking rewards, how the zerocoin automint feature works and the low number of expected wallets we'll have staking when starting out.  Feel free to ask if you'd like to delve deeper into the technical aspects of this decision.

Hi drip, I have a little question about coin maturity, how many hours coins need to mature to be in staking?

When introducing a new cryptocurrency , a proper development team will have many ideas about the future of the product but the greatest ideas take the longest time to develop. Until a project is funded, the thousands of man-hours required to develop these features do not exist. As a result, a development team can only really take an existing product, customize it slightly and add the least labor-intensive feature before taking the product to market. For us, this feature was the retailer/charity rewards portion of the staking rewards. This is a simple idea but will reap huge benefits when it comes to persuading retailers to accept DRIP as payment for their goods and services.

My team and I have many other ideas and, perhaps, it's the fact that these are in our heads as opposed to in the public domain that has us so shocked that our Discord has only hit 250 members whilst other coins that offer much poorer value have 1000's (it's only been 4 days since announcement so maybe we're being too ambitious).

Given the above information, and the fact that one of the first questions usually posed by others when presented with a new coin is 'how are you different', we are faced with a dilemma. Do we release all information and risk other coins, with huge funding providing them with a much larger development team, stealing our ideas and coming to market first?

At first, our plan had been to keep all of our ideas secret because DRIP is already a fantastic product. This approach isn't leading us to the adoption we'd like at a fast-enough pace so, with the approval of the DRIP team, I am now going to release one idea for which I don't believe there is yet a competitor.

There are many coins that are introducing marketplaces for their own coins today. As a team, we do not like this idea. We are of the belief that if a crypto marketplace that can rival eBay is ever to emerge, it won't be that produced as a side-project to a particular coin. Instead, it'll be an independent project that accepts multiple cryptocurrencies.

With all the above in mind, one of DRIP's idea for the future is not a marketplace, but a feature that will allow DRIP to be spent on any crypto marketplace. Basically, a back-end exchange operated by our masternodes - not to manually exchange currencies like a traditional exchange, but to allow us to offer a 'Spend Privately as Bitcoin' button on our wallets. This will be designed in a flexible manner so that we can adapt in the future if Bitcoin's loses its throne as number 1 cryptocurrency – or add other options to ‘spend privately as’ if that feature makes sense.

When we have this feature, one of many planned (some great, some average), in place, a DRIP user will be able to spend their cryptocurrency absolutely anywhere that accepts Bitcoin - and will be able to do so privately without the spend ever being traceable back to your wallet.
So just imagine, in the future, eBay see the rise in market share of online auctions accepting crypto. In this scenario, they’d be foolish not to start accepting it themselves to stomp out the competition. With a ‘BitcoinBay’ in place,  there’d be billions worth of Bitcoin spent on a monthly basis – but no one using the platform would have any privacy and transactions could be tracked back to wallets via the blockchain. DRIP would offer anyone wanting to use this platform a unique value-proposition.

The above feature not only adds significant value to those holding DRIP as their currency of choice - it also adds an additional revenue stream to masternodes in the future as there will be a yet-to-be-decided fee for someone wanting to 'Spend Privately as Bitcoin'.

As an idea, we think ‘Spend Privately as Bitcoin’ is up there with the best of them. As such, it's the only one we intend to make public for now. If I'm being honest, I fully expect someone else to steal it. As a team, we've decided that someone stealing this one will take the burden of development off our team. If they steal our idea, I’m sure the DRIP community would agree that we should have no qualms with stealing their code, if it's up to our standards, freeing us up to work on development of our other ideas (as a funded project at that point, we'll be better able to keep them under wraps until release).

We started out offering LUX as the sole mining option for contributing to the DRIP platform. As solely Nvidia miners, this was the best choice from our point of view.

Further to feedback from our community, and as indicated above, Ravencoin is now also an option.

If you are a miner and would like to see other coin choices added, please let us know.

The coins would need to be:

• ASIC resistant
• Unavailable on Nicehash
• Available on an exchange

We are now two days away from launch. We have a growing discord group and growing group of miners mining so that they can be there on the ground floor, with as many coins as possible, for when this new Proof of Stake coin kicks off.

There's still time to get an early seat - where we believe a couple of days mining and staking for 1-2 months is likely to be sufficient to earn yourself a DRIP masternode.

Thanks konponser. Let us know if you have any questions or concerns or need any additional information.