Liking the research!
Another consideration is the price potential of course.
We're 90 sats atm & 900 sats within months of launch (& the associated projects due to come online) is not inconceivable.
Thanks! Some people in the slack channel don't seem to feel the same way, lol. All I did was state why I think the rewards are low, and I gave an explanation to back up my opinion when 110110101 asked me to. Either way, I look forward to staking my MN's! And yeah going from 90 sats to 900 is very doable considering the market cap is currently only $55k. Glad I found this one early  It's all good man, we're all on this journey together, doesn't mean we have to like each other and our opinions every single step of the way (just most of them though ) I'm all for positive constructive discussion, crypto needs more of it. |
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What percentage of the 40 MUE per block do the Masternodes get?
The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc. 40 MUE x 45% = 18 MUE per block. That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold. Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion? I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development). Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time). Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance. Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future. MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward. If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know! Great place to discuss this stuff. Have you taken into consideration the number of MNs you are competing against? i.e your luck in being the chosen MN to process a block? While the reward to collateral % is lower (hadn't thought about it before) the chances of a MUE MN processing a block is 40x greater than a Dash MN for example. What does it look like with the other examples you mentioned? I already took into consideration the block times. Let's look at the number of competing MN's now. Darknet has over 900 MN;s, Syndciate has about 258, Bitsend, not sure, maybe 50 to 70? I personally have enough to fire up 6 MN's right off the hop. Let's assume in this example there will be a total of 18 MUE MN's, I'd be getting 33% of the rewards. Currently, 3,000,000 MUE has a dollar value of about ~$1,665 USD. So in this particular scenario, by running 6 of 18 MN's, I'd be getting a third of the MN rewards. With an average of 2160 blocks being solved per day, that would yield 38,880 MUE daily combined income for MN's. 33% of that would be ~12,960 MUE per day, or ~$7.19 USD. Now let's look at a ~$1,665 DNET investment. That would give us just over 37 MN's to work with. Each DNET MN earns on average 46.8 DNET, multiplied by 37 would yield 1731.6 DNET, or $7.76 USD per day. However, I'd only have just under 4% of the total number of MN's, not 33% Now let's look at Syndicate. About 258 MN's online. $1665 USD would get me just over 7 MN's. Currently each MN yields on average about 28 SYNX. Multiply that by 7 and we earn 196 SYNX per day, which has a dollar value of about $8.57. In this case 7 masternodes of 258 represent 2.7% of the total number of masternodes. So in order to be in the same ballpark, I'd need to be controlling a much larger percentage of the total masternodes: 33% compared to Syndicate's 2.7% and Darknet's nearly 4%. (All prices obtained from coinmarketcap.com) Does anyone have any numbers regarding DASH? I'm a bit too lazy to dig up that info at the moment. Liking the research! |
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What percentage of the 40 MUE per block do the Masternodes get?
The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc. 40 MUE x 45% = 18 MUE per block. That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold. Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion? I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development). Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time). Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance. Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future. MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward. If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know! Great place to discuss this stuff. Have you taken into consideration the number of MNs you are competing against? i.e your luck in being the chosen MN to process a block? While the reward to collateral % is lower (hadn't thought about it before) the chances of a MUE MN processing a block is 40x greater than a Dash MN for example. What does it look like with the other examples you mentioned? |
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Public beta testing of the new x11and MasterNode code should be going live today or tomorrow. Watch this space  |
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What percentage of the 40 MUE per block do the Masternodes get?
The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc. 40 MUE x 45% = 18 MUE per block. That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold. It's the same payout schedule as Dash It will work well I'm quite sure and you won't regret your decision. |
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Just a heads up wrt the testing phase of the new code for migration to X11 & MasterNodes.
We are being very thorough and also making some tweaks to the code we know will be beneficial.
With this there is a slight delay before we make the beta test public and we are running 7-10 days behind schedule.
Sorry about that, we have no plans to rush this without doing it right.
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Want to earn up to 1400% ROI by investing in a MUE MasterNode? Yeah me too!  (though unlikely) I've been looking at theoretical returns based on multiple scenarios set out below. If you discard the outliers and look at the median results I think it's sensible to say year 1 ROI for a MasterNode should be between 20-35%. While that is a very healthy and attractive return, things get much more interesting when you take into account a growing MUE price. Several experienced & trusted crypto traders expect MUE to easily hit 1000+ sats in the first year (not guaranteed obviously). So when you take into consideration a ten fold increase in price (and assuming the BTC price remains stagnant) you could argue the first year ROI could be 200-350%. What if the BTC price hits ATH over the next 6 months and is trading at $1200, all of a sudden you could argue a year ROI of 400-700%!? So, back to facts & figures and ignoring optimism, please see the below, and those data alone look pretty good to sway investors to buy MUE to invest in MasterNodes. Just to make sure the spreadsheet is clear. Column 1 - "% of MUE in MasterNodes" - This column shows the varying amount of the TOTAL coin supply that has been invested into MasterNodes. One MN requires a 500k mue investment. Column 2 - "No. of MNs Year 1" - This is the number of MNs that could be active based on the Column 1 value. Column 3 - "ROI Year 1" - This column calculates the amount of MUE return for each MN in year 1. It is based on the total amount of reward allocated for MNs per year (14,191,200) divided by the number of MNs and the return based on the 500k investment. Link to Google Doc - https://docs.google.com/spreadsheets/d/14AVDtxfYAnIVtzbCSONO5MBQ948eVCcGChUcmpPBGWA/edit?usp=sharingI just wanted to comment on the expected returns on investment. Yes the percentages are astonishingly high, but I would believe the true returns to be in the ~25% range, declining over time, and not several hundred percent. Remember that if the price of BTC goes up, the price of altcoins generally goes down. If we were to see another ATH for Bitcoin, at around $1200, it would be a safe bet to assume that the price of MUE would decline. This all said, I think it will be interesting times for MUE ahead. Slowly building momentum with a blockchain funded model opens all kinds of possibilities! Hi, yep all fair points. It will be interesting to revisit this a year after we migrate and reflect in this post Exciting times ahead whatever the ROI. |
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Hi, We've added MUE to the miners multipool: www.zpool.caCheers! Ah cool, thanks for that I'll add to the OP. Still working on this? I just forgot! Sorry. I'll do it after breakfast |
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Good to know about this since we are getting closer towards the 1,750,000 block. As soon as we migrate, the price might increase as it will attract new investors into the coin (now that it will feature Masternodes). Speaking of which, will there be a service similar to Node40 (which is for Dash)? It would be pretty great to have a service where you can manage your Masternodes in the cloud and earn rewards directly towards your local MUE wallet. You can look into it here by the way: https://node40.com/Hi, one of our devs pjcltd has that all set up ready for go live and will be available through his site www.mp-hosting.co.ukI'm sure others will also come onboard to offer similar services. |
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sorry, i looked at your signature   anyways, good luck with your migration. Even though it said don't!? You're a trouble maker aren't you :p Cheers though |
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What's ICO price for MUE? It is too long ago, I don't know very much about MUE
MUE was launched July 27th 2014 and we will soon be migrating to X11 with Masternodes. Masternodes will require 500k MUE collateral investment. |
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The new MonetaryUnit ("MUE" | http://www.monetaryunit.org) logo looks good! Re: [ANN] MonetaryUnit [MUE]: Blockchain Download Files Up to Block 1710757 (106 weeks, since July 2014)As promised, I've downloaded all 106 weeks of blocks for the MUE blockchain up to block no. 1710757, using the MonetaryUnit Core version v1.0.10.8 Windows 64-Bit MUE Wallet. Took me about 2-days part-time to complete. FILE (GOOGLE DRIVE), LINK: https://drive.google.com/open?id=0BxwDwwsK5CkEd2VONm15bDFncUk GOOLE DRIVE DESCRIPTIONMonetaryUnit Core version v1.0.10.8 Windows 64-Bit Blockchain up to Block 1710757. Archive does not include a peers.dat or wallet.dat which will be generated for other users when they continue to sync MUE (monetaryunit.org) FILE INFORMATIONFilename: "3_Public-MUE-Chain-Block1710757.zip" Type: Compressed Archive (*.zip) Size: 882 MB (924,627,768 bytes) Created: 11:55 with Google Drive HOW TO INSTALL1. Install your Wallet Client for MonetaryUnit on Mac, Linux or Windows 32/64-Bit 2. Copy the contents of the *.zip archive supplied into one of the respective operating system locations: Windows Vista/7/8/8.1 MonetaryUnit Blockchain Location C:\Users\{user}\AppData\Roaming\MonetaryUnit Folder: \blocks Folder: \chainstate File: .lock File: db.log File: debug.log File: fee_estimates.dat Mac OSX MonetaryUnit Blockchain Location ~/Library/Application Support/MonetaryUnit Folder: \blocks Folder: \chainstate File: .lock File: db.log File: debug.log File: fee_estimates.dat Linux MonetaryUnit Blockchain Location /home/{user}/~/.MonetaryUnit Folder: \blocks Folder: \chainstate File: .lock File: db.log File: debug.log File: fee_estimates.dat Here are the MD5SUM and SHA1 keys generated on my computer to make sure you get the same file I uploadD:\>FCIV -md5 -sha1 d:\3_Public-MUE-Chain-Block1710757.zip 'FCIV' is not recognized as an internal or external command, operable program or batch file. D:\>cd FCIV D:\FCIV>FCIV -md5 -sha1 3_Public-MUE-Chain-Block1710757.zip // // File Checksum Integrity Verifier version 2.05. // MD5 SHA-1 ------------------------------------------------------------------------- 66cbcd6792f1bcdbd5472de1c567f73e e7384533e34f9d3bae0439eab5b96d7c936fdef5 3_publ ic-mue-chain-block1710757.zip Looking good man thanks, I'll add this to the ANN soon & credit you with a link to this post. If there is anything else you can help with or want to take forward please do, and join us in Slack here https://mueslack.herokuapp.com/ |
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Count me in... I just have to get that 1 BTC to invest.. soon...
We'll probably offer a 10% discount if paying in MUE (maybe up to 50% can be paid in MUE and the rest in BTC). Possibly also we'll offer a monthly payment option. $100 up front, and then $40 per month. Again same as above, with a discount if paying in MUE up to 50% of the total amount. So while the best long term value will be the full up front payment, I think offering other payment options can potentially attract more interest. Hey BizzyB, saw this mentioned in the MUE thread. Is this a subscription token service running on top of the MUE network? If a partial payment is made to get a bag of tokens, how can the rest of the payment be enforced, or what happens if the merchant does not pay the remaining purchase but has received their custom tokens? I don't think the subscription model will work tbh, so upfront payment only. Once this is launched the purchaser doesn't receive any tokens actually, rather they get to brand on top of the MUE network. So when they mine their tokens, they are actually mining MUE. When they buy their tokens, they are actually buying MUE. Think of a web hosting company offering resellers their own white label website which they can then market & promotor. They get the benefit of the established infrastructure and customer support with none of the setup and overhead costs. I just want to bring this to crypto, I think there is a market for it and I think it offers far more than just another altcoin created by a gen site. |
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Will there be automatic SWAP on exchanges or do we have to sned this coins also into SWAP?
What will likely happen is we'll open the coin swap system while both the MUE-quark and the MUE-x11 networks are both live and maintained by hash. People then have the opportunity to send to our coin swap system (URL to be announced later) to swap their MUE -quark to MUE-x11 and withdraw to their MUE-x11 wallets. The MUE-x11 block reward will probably be zero for a week or two during the transition. We'll ask the exchanges to pause trading, then ask them to update their wallets. Then trading will be reopened once the exchanges have updated their wallets. The coin swap opportunity will be open for a while but we will only accept coins generated before block "n" (hopefully 1750000). I think that makes sense, happy to hear feedback and suggestions from any and all. The swapping system sounds like a good idea, but is this something that can be integrated in a future wallet down the road? I'm just thinking that many users who are not following this thread risk missing the announcement and try sending their old MUE-quark on the new MUE-X11 blockchain and they lose their coins. I'm all for the transition and think from a logistical perspective that this is probably the best approach. Close down all trading and try to get as much of the older assets over to the new chain before opening up business again. In order to do this though, what will happen to the PoW on the MUE-quark chain while the transition happens, or after the transition? Mining still needs to be done to build on the blockchain, but once the algo has been changed, is it still possible to move coins if there is no valid PoW? Won't the blocks all be on a forked chain and be invalid? Maybe an option to import a MUE-quark private key onto the new MUE-X11 chain? Maybe I am overthinking the matter - it wouldn't be the first time If everyone moves prior to block 1.750.000 I guess everything is OK, but for latecomers, it's a no go? Both chains will need to be maintained during the migration. The block number isn't set in stone yet and we'll offer the coin swap for months but the automated version will be offered for a few weeks probably. Trading shouldn't be affected for very long really as the exchanges will tell us how much MUE-x11 they need, we'll send it and job done. It's the off exchange MUE that requires more work, but should be painless. Hopefully the coin swap is something we won't need to do again for a very long time, if at all! |
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I've updated our humble road map at the end of our ANN. It's important for the community and future investors to know that the MUE project is not relying on the migration to X11 & MasterNodes to be our final destination. That is simply the beginning. We have some great ideas in the longer term product pipeline and in the short term post migration we are looking at: www.WhiteLabelCrypto.com - A revenue generating project that also benefits the underlying MUE infrastructure www.BitcoinPrizeDraw.com - A revenue generating project www.MUEgs.com - 3D gaming portal unique to MUE (late stage development) GPB - Goldfinger Poloniex Bot - A multi-platform Poloniex bot that requires a fixed amount of MUE to to be held in Bittrex (late stage development) Many other crypto projects are at BEST, relying on a single unique selling point. MonetaryUnit is building a portfolio of killer apps. No single point of failure, and a massive opportunity for investors to ROI. The past 2 years have been a waiting game, now things will really start to get interesting |
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The new MonetaryUnit ("MUE" | http://www.monetaryunit.org) logo looks good! Re: [ANN] MonetaryUnit [MUE]: Blockchain Download Files Up to Block 1710757 (106 weeks, since July 2014)As promised, I've downloaded all 106 weeks of blocks for the MUE blockchain up to block no. 1710757, using the MonetaryUnit Core version v1.0.10.8 Windows 64-Bit MUE Wallet. Took me about 2-days part-time to complete. FILE (GOOGLE DRIVE), LINK: https://drive.google.com/open?id=0BxwDwwsK5CkEd2VONm15bDFncUk GOOLE DRIVE DESCRIPTIONMonetaryUnit Core version v1.0.10.8 Windows 64-Bit Blockchain up to Block 1710757. Archive does not include a peers.dat or wallet.dat which will be generated for other users when they continue to sync MUE (monetaryunit.org) FILE INFORMATIONFilename: "3_Public-MUE-Chain-Block1710757.zip" Type: Compressed Archive (*.zip) Size: 882 MB (924,627,768 bytes) Created: 11:55 with Google Drive HOW TO INSTALL1. Install your Wallet Client for MonetaryUnit on Mac, Linux or Windows 32/64-Bit 2. Copy the contents of the *.zip archive supplied into one of the respective operating system locations: Windows Vista/7/8/8.1 MonetaryUnit Blockchain Location C:\Users\{user}\AppData\Roaming\MonetaryUnit Folder: \blocks Folder: \chainstate File: .lock File: db.log File: debug.log File: fee_estimates.dat Mac OSX MonetaryUnit Blockchain Location ~/Library/Application Support/MonetaryUnit Folder: \blocks Folder: \chainstate File: .lock File: db.log File: debug.log File: fee_estimates.dat Linux MonetaryUnit Blockchain Location /home/{user}/~/.MonetaryUnit Folder: \blocks Folder: \chainstate File: .lock File: db.log File: debug.log File: fee_estimates.dat Fantastic work thank you, that will save loads of time for newcomers. Would it be possible to post results of a VirusTotal scan please just for completeness, I can then add a link in the ANN. Also, please feel free to PM your wallet addy or add it to your signature, I'm sure people will throw you some MUE tips for your time and effort Feel free to join us in Slack, auto-invite link https://mueslack.herokuapp.com/Thanks again! |
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I'm updating our copy. The previous wording is out dated and a bit cringe to be honest The logo also needs updated to be less busy. The migration to X11 with MasterNodes is going to expose the project to a whole new audience, and to maximise the success we have in converting those people to active community members, traders, miners, the project needs a more professional image. Below is the copy I've put together over a cold beer: MonetaryUnit launched July 27th 2014.
Secure fast transactions are near instant.
Low per unit value targets usability such as retail, tipping, trading, and everyday use.
Designed to be an inclusive cryptocurrency, with initially low rewards gradually increasing over 5 months and then a fixed block reward of 40 MUE per block (40 seconds) ongoing.
There is no block halving which is common to so many other cryptocurrencies, instead, MonetaryUnit(MUE) is designed to allow newcomers to become involved at any stage.
In the short term MUE is migrating to X11 POW with MasterNodes.
The move will be decisive, taking advantage of the hugely succesful, stable & well developed DASH code base.
This move will attract more miners to help secure the network due to the ease which X11 can be mined.
MasterNodes will require collateral of 500,000 MUE.
10% of the generated block rewards will be set aside for the use of the project for further development.
These combine to reduce the liquidity in the market which should be reflected in a growing price, and provide the project with a long term sustainable future.
The team are looking at many innovative & attractive projects designed to attract even more users & miners such as gaming portals, trading bots and white label projects.
MonetaryUnit (MUE)And I think the logo below is simple and effective and bold.  |
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Cool thanks, very useful. We will update the bootstrap periodically after we migrate to x11/MNs |
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