Hold 700k MUE now  Just 300k more for a second MasterNode then  |
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Interesting coin, just bought 300k MEU @ www.bittrex.comBest of luck with the project Thanks very much, great to have you onboard. As we approach the migration to x11 with MasterNodes you may want to consider purchasing 200k more to enable you to have a MasterNode, which will require 500k MUE collateral. We are currently in full swing testnet environment testing everything, so it will be 2-3 weeks yet, so plenty of time to accumulate 525k MUE now and Sync'ing the MUE Blockchain, which I'm thinking I might make the blockchain I download available for other Investors to fast-track their wallets towards fully-sync'ed as well. Looking into Amazon or IBM cloud services and a MD5SUM for file security. Cool man, sounds like you'll be joining the MasterNode club All help appreciated, it all adds value to our investments. |
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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. |
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Just calculate the amount of MUE that each MN gets paid as a fraction to what the masternode costs. For Dash each MN require 1000 Dash but MUE requires 500x more, eg 500K. So even if the block times are shorter and the MUE masternodes are paid 8x every day, the ROI percentage is roughly the same on an annual basis. Over time though, MUE will pay out more as we see that the Block rewards for Dash decrease rather rapidly. I'll have to check my numbers as well Let's look at it from a different angle. 45% of block rewards go to MNs So per 24 hr period 45% of about 80,000 MUE is allocated to MNs. This is a correct assumption right? So per 24 hour period, whether there is 1 MN or 1000 MNs, 45% (36,000) is "given" to MNs. Is this right? So over a year, 365 x 36,000 = 13,140,000 is given to MNs I'm going to "assume": that 50% of the MUE coin supply will be invested in MasterNodes the price per MUE DOESN'T increase (which it will & therefore the number of new MNs will reduce) **If year 1 the number of MNs is 100 return is 13,140,000 (amount of MUE allocated to MNs) / 100 (Number of MNs) = 131,400 MUE per MN ROI is 131,400/500,000 = 26.2% ROI** year 2 an extra 30 million MUE are created, and 50% of that is invested in new MNs, so an extra 30 MNs 13,140,000 (amount of MUE allocated to MNs) / 130 (Number of MNs) = 101,076 MUE per MN ROI is 101,076/500,000 = 20.2% ROI** year 313,140,000/160 (Number of MNs) = 82,125 MUE per MN ROI is 82,125/500,000 = 16.4% ROIJust got your e-mail with your spreadsheet, so I'll look at that later too so we can get to some kind of reasoned guesstimate. |
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A napkin calc gives me:
40 MUE / block, and 2160 Blocks per day.
If we assume maximal amount of masternodes, 200 +63 MN after first year, so 263 MN in total.
The block reward gives 40% to a random masternode and each masternode gets its share:
Each masternode gets paid every 263 blocks (each masternode getting paid), and the number of blocks is 2160 per day.
Every masternode gets paid ( 2160 / 263 ) *40 MUE*40% = 131 MUE per day, or 131 * 365 = ~48K per year.
48 K / 500 K = ~10% ROI for the first year.
Of course, if the number of masternodes is less than this theoretical maximum, the payouts will be higher and the ROI slightly higher as well.
Dash masternodes get paid about 1.9 Dash per week, or 99 Dash / year.
99 Dash / 1000 Dash = ~10% annually.
This value goes down as both the MN count goes up and the block reward is reduced.
Hmmmm I'll look at this again later. I haven't done extensive research but a couple of links place the Dash MN ROI at between 18-20% & that's based on around 4000 MasterNodes & MUE is going to have a magnitude of 10 fewer MNs? https://dashpay.atlassian.net/wiki/questions/12910621/how-much-is-the-roi-of-a-masternodehttps://news.bitcoin.com/study-dash-masternode-18-roi/Also, block reward is 45% to miner, 45% to MN & 10% to project fund so that will increase the numbers a bit as you based it on 40%. Plus there is the financial return based on a continued MUE price growth which everyone hopes will be significant. It's going to be interesting what happens for sure. Would be good to look at these numbers again as I think maybe we are are opposite ends of the scale, and the truth lies somewhere in the middle? |
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What is the advantage for running a masternode? Sorry for my question but couldn't find detailed information.
The masternodes will be part of the backbone of the MUE network. By running such a service the network rewards the nodes with a portion of the block rewards. So, you get paid a bit of MUE for your help in building a stronger network. The masternodes are so called full nodes providing additional features and governing to the network. This^ galixxx, the plan is similar to the Dash business model. Each block reward of 40 MUE will be split: 45% goes to the miner 45% goes to the MasterNode confirming that block 10% goes to the project development fund (to fund growth, services, promotions, infrastructure and so on) Just as miners "compete" to win the block reward, so do the MasterNodes compete to process the blocks. Dash currently has a little short of 4000 MasterNodes I believe, and the ROI is currently about 17% per year per MasterNode. I would hope the MUE MasterNode ROI to outperform Dash significantly. |
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May I propose a new total coin supply post-swap? MNs run smoother when there are less coins in circulation, DASH has a great total supply, MUE I believe must have at the most 12M available supply. Let me explain why it is etymologically sound as well.
Monetary Unit. Great name. Mu is the 12th letter of the Greek alphabet. Thus, 12M coins would be logical and rational whilst at the same time paying a respectful homage to our Grecian forefathers that founded the very ethics and morals that we instill into crypto to this day.
Meditate on it, perhaps?
If only everyone in crypto was ethical and moral. I guess we just fight the tide and hope for the best Thanks for the feedback, I like your thinking. MU also has the numerical value of 40 in greek numerals, hence the block reward of 40, and block time of 40 seconds. With all things considered we believe strongly in trying to maintain a "low" per MUE unit value to allow easy tipping & transactions, which is reflected in the coin supply. Also, a reduction in the coin supply 10 fold would be unethical I think, and potentially be the end of the project as an ethical and inclusive idea. Thanks very much for taking the time to reply though, we'd be happy to have you continue to be involved. |
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Interesting coin, just bought 300k MEU @ www.bittrex.comBest of luck with the project Thanks very much, great to have you onboard. As we approach the migration to x11 with MasterNodes you may want to consider purchasing 200k more to enable you to have a MasterNode, which will require 500k MUE collateral. We are currently in full swing testnet environment testing everything, so it will be 2-3 weeks yet, so plenty of time to accumulate |
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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? Yeah, so the process will be really easy. You create an account at our coin swapping site (will be disclosed nearer the time). You deposit how many old MUE-quark you want to swap for MUE-x11. You then put in your MUE-x11 wallet address, and those coins get returned to your new MUE-x11 wallet. We've been testing it, and it takes under 1 minute pretty much. |
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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.
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31/03/2016 - MUE target price 2000 sats ($0.004-$0.008) Target not achieved  31/12/2016 - MUE price 20000 sats achived  Ah, cheers man for the positive vibes People like you are definitely welcome. |
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- 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://bitcointalk.org/index.php?topic=421615.msg15956429#msg15956429...cut....  https://docs.google.com/spreadsheets/d/1BmfW0YGYrnWxRDsW3W3SQy2xdIqi2sArjP1hkiiuUsI/edit?usp=sharingEach 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. |
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31/03/2016 - MUE target price 2000 sats ($0.004-$0.008) Target not achieved Yep, and now we look forward to the opportunities ahead. No point living in the past  |
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- 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/ |
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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://bitcointalk.org/index.php?topic=1582356and X11 was also agreed on https://bitcointalk.org/index.php?topic=1564635The 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. |
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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://bitcointalk.org/index.php?topic=1582356and X11 was also agreed on https://bitcointalk.org/index.php?topic=1564635The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration. |
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