Is there any way to combat these (kinda obvious) bots? This cryptocurrency is literally a joke, and yet there are countless comments about "advancing technology" and "being the future" etc.

And as for this cryptocurrency, seriously? The fact that there are so many joke coins on the market makes me really concerned about how profitable it must be to spin these up. How many people are just trying to "ride the wave" without looking at fundamentals, and inadvertently making the creator wealthier for the (lack of) effort?

I'm sorry, but projects really need to have something to offer in the long-run. Why would someone invest in something like this?

If the aim is purely to raise money for the continuation of a TV show, then a crowdfund or even an ICO would work to that end. The money that people put in would go straight to the intended recipients.

But this is a cryptocurrency... People would put money in, hoping to get returns for themselves. Because a finite amount of value can enter or leave the market, this means that either: A.) The intended recipient (the TV show creators) would get 100% of the intended donations, or B.) The investors would make money on their investment. There is no reason that both A and B would come about, considering that this cryptocurrency is nothing more than an unknown clone of an established coin.

So in other words, someone is being swindled here. Either the investors who seek profits (by losing those profits to the donation recipient), or the TV show creators (by not receiving the full value of their intended donations).

Cryptocurrencies are not the answer to every problem.

Simple (though not really simple) question:

If a distributed acyclic graph currency had nodes, would it theoretically be possible to build in the inclusion of smart contracts similar to Ethereum's?

I realize that this would require some form of storage (i.e. blockchain), but couldn't a public ledger (similar to a blockchain) be built into the process of running a node?

Example: peer to peer currency exchange occurs (creating a chain of transactions verified by each other), and this chain is periodically sucked up into a node, which adds the data to a ledger. within these transactions, there could very well be code for a smart contract, which would then be run/applied/etc.

Is this possible, or am I talking about something that I don't understand well enough?

I think once this news catches on, the price is going to make a major bounce. Simple installs means easier masternodes.

Thanks for the hard work making the video!

In my opinion, we should advertise the strength of Innova as being its community involvement. This coin has major potential for growth because it takes its lead from the members of the community. So here are my two cents:
Title "Innova - A community blockchain"
And a simple summary: "Innova is a deflationary cryptocurrency with a limited supply. It boasts impressive transaction features such as InstantSend and DarkSend, as well as an ever-increasing potential for growth by harnessing the power of the community behind it."
And maybe focus add a few categories to expand on: Privacy, Speed, Masternodes


I downloaded it and tried it out. It's actually really reassuring to see that masternodes are worth it even in the worst or times. Here's my favorite result:

If Innova were to lose ALL VALUE (as in 0 value), and ALL ROI (as in 0 ROI) in 100 days (yes, this is a hypothetical doomsday), IT WOULD STILL BE PROFITABLE TO RUN A MASTERNODE UNTIL THAT DAY!! That's amazing!

The ROI won't be exactly the same, because the rewards are given by chance. What you see is the average return from these masternodes. Most masternodes will have similar ROIs, give or take a few %.

Alright, sorry for the false alarm. I just want people to be safe with their money.

On a side note, for all those running masternodes, I would suggest you run a hot/cold wallet setup rather than a pure hot wallet VPS. If ever malicious software were to be installed on a hot wallet, they would have full access to your funds. If you run a cold wallet VPS (or use a cold wallet service provider), then your money can't be taken from you if, theoretically, the wallet software (on the VPS side) were altered.

WARNING

A newbie account posting a link to software on a Github page which is only 6 days old. There's a good chance that this is malware. Please don't download this unless someone can verify the integrity first.

I'm not saying that this isn't legitimate. It may be fine. But I suggest you wait for the dev to confirm.

Innova is based on DASH, like most masternode coins. DASH recently updated their system to require new software called "Sentinel" to be run alongside a masternode. It seems that this update was included via soft-fork, which was automatically grabbed from DASH, and as a result a large number of masternode coins suddenly required this additional software. However, this software wasn't built with these coins in mind, and the developers had to scramble to get things sorted out.

Innova devs reacted quickly, and we had a compatible version of Sentinel (and installation guide) shortly. But unfortunately with the mass-installation of Sentinel plus the majority of masternode coins refreshing the chain validation at the same time (as a part of the installation process), an accidental chain split happened. The miners ended up on one chain, moving it forward, but Cryptopia ended up on a chain with no miners. Effectively, Cryptopia couldn't send or receive INN for a couple of days.

Cryptopia has since moved to the valid chain, and things are fine now. As expected, INNOVA dipped as a result, but it's not going to last. INNOVA is one of the few coins that actually delivers a steady (and absurdly high) ROI. This is the perfect time to get a cheap masternode.

They're not, don't worry. You misunderstood the post. Cryptopia had an issue when they followed the wrong chain. Deposits and withdrawals weren't working, and many were concerned about losing their funds. Things have since been resolved.

I literally don't see any problem with the nodes right now. Everything is running fine again!

I think there's some FUD going around to drive the price lower. This kind of market manipulation shouldn't be tolerated. Check mnrank.com for a node count. It's 356 as of writing this.

But hey, for those of you who missed the train earlier, here it is again! Cheap Innova!

It'll bounce back to .0006 btc once the FUDDERs have finished filling their pockets.

Haha, of course. But I have to ask, how did you end up with over 1000 without even planning to set up a masternode to begin with?


I can't speak for hostmns, but I have been using www.node-vps.com to host my masternodes, and the funds remain in my wallet at all times (there's no chance for them to even touch my coins). I'm actually really happy with the service because it made the masternode process so much simpler to set up.

(Side note: I promise I'm not affiliated with them in any way, and I am not benefitting at all from people signing-up. I'm just happy with their service, and want to see more masternode coins succeed with the help of services such as these which make things easier to set up and manage).

Of course. I'm not accusing you of FUD. I was just giving an example of how masternodes are better equipped to deal with FUD in general.

As for your point about the decreasing ROI because of the increase in masternodes. That's a good thing! More masternodes means that more people are buying into INN to get them, driving the demand (and price) higher. This, in turn, means that the rewards are worth more per coin, albeit at the cost of receiving fewer coins. Additionally, the more coins that are locked into masternodes, the more stable the price will be.

Looking at the math from the past week (of course no more indicative of the future than anything else):

When I bought into INN a little over a week ago, it was at about 0.0004 BTC. A 1000INN masternode cost about 0.4 BTC. The ROI was around 1000% (not exact), so the daily gain was about 30 coins per day, which averaged about 0.012BTC per day.

Now, the price has increased since more people are interested in getting a piece of the pie, also increasing the number of total masternodes. One INN averages somewhere around 0.006 BTC, with a lower ROI of about 700%. This should average around 20 coins per day, with a value of around 0.012BTC per day.

Effectively, that means that I'm still receiving the same payouts that I was when I first started running my masternode. In truth, however, I'm still averaging close to 30 coins per day, meaning I am making more than I was when I started.

(DISCLAIMER: the math above is NOT EXACT AT ALL! It was using rough numbers from my memory. Please excuse any mistakes, and correct me if I'm wrong.)

I've never had an investment which nearly paid itself off so quickly!

It's important to remember that the masternode payments are only one part of the true return on investment (ROI). The price of the coin directly affects this as well. When the price increases, the value of your masternode rewards also increases!

I've nearly paid off half of my initial investment in ONE WEEK because of the high masternode rewards combined with the success of this coin. That's nearly a 50% ROI in 7 days! At this rate, it'll only take a little over one more week for this to be pure profit paying dividends daily!

The most important part for me is that this eliminates the self-doubt that comes with knowing when to sell. I hate investing in a coin that I think is promising, seeing it drive up 25% in a few days, and wondering if I should sell some, or wait for higher gains (only to have it come crashing down!). Having a masternode keeps me thinking that I have 1000 INN, and the extra that I receive from payments I sell daily (which hedges against the risks of a volatile market).

Not to mention that the more masternodes that exist, the less volatile the price will be because fewer people are going to drop their cash cow over a little FUD.

This coin is a steal, considering that it pays for itself!

Incoming pump!

I can't wait to see the video!

I agree about the possibilities for this coin. In my opinion the best thing to help it succeed would be to introduce a pool for part of the block rewards to be funneled into (a small % each block), which the community could vote on its use. I asked the dev earlier but he hasn't responded yet.

That's exactly right. You'll need to set it up that way, though.

In my personal experience, I ran into trouble trying to set it up. I conceded and bought a month of service on www.node-vps.com which worked out perfectly (at $5 USD per month).

I'd say go for it. Try to set it up yourself. But if it doesn't work, don't get too discouraged. There are easy ways to get a masternode to run.

It's a masternode coin with a solid set of transfer and payment features. But the real gain for this coin is that it has an active developer involved and responding to the community. This is all without mentioning that the INN masternodes have some of the highest ROI, even with so many nodes.

As for the price, it's best to check www.mnrank.com to see a relatively up-to-date price per node. As of writing this, one masternode costs $3,561 USD.

If you're asking about hosting costs, that varies by host. For ease of use, I suggest using www.node-vps.com. It's much easier to set up, and will cost about $5 USD per month.

I just want to say that I'm a big fan of this project. Masternode coins in general are definitely the next step in cryptocurrencies, but Innova in particular has an active developer and positive community. I'm excited to see where it goes.

I've been running a masternode for a while now and it's nearly paid itself off. In such a short time, that's amazing! Not to mention the fact that it will continue to be a source of passive income long into the future. I'm glad I took the risk!  

This was the first time I took a real risk with my portfolio (about 70% went to pay off the masternode), and I took nearly my whole position out of Bitcoin for the time being. It's not more than I could afford to lose, but I was still nervous. Now my portfolio is nearly double what it was!

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On a more technical aspect, I have a question for the devs:

You say that the community will be the ones to guide the development of the coin in the future, which I think is fantastic because it opens the door to growth in many new directions. But I want to know, is there any plan to take a portion of the block rewards to put towards a pool for the community to vote on its use? (As in, 49% goes to MN, 49% goes to mining, and the remaining 2% could be pooled into a single address which is only accessible by community vote/interaction). That would allow the community more control and power to further the growth of this coin. If the community has the ability to promote an idea, vote on it, and use the funds from the community pool to hire someone to do the work, I could really see this coin fly. (Not to mention this would free this coin from relying on one developer or team, and allow the coin to grow no matter who is involved).

That's a good point! Thanks for that.

One more argument was suggested elsewhere. I'll reiterate what he said: "When a coin is added to an exchange with greater liquidity, the miners who have been mining the coin since it's beginning will dump their coins, driving the price down."

Do you think this has any merit? I hadn't given it any thought before it was said to me.

Simple question:

If a project is announced to have an upcoming listing on Cryptopia or similar exchange, is it a common indication that the price will rise after the listing is up? Or could the new access to markets lead to an easier sell-off? (This question is ignoring the fact that some scam-coins lie about upcoming listings for market manipulation reasons).

Another question for those of you who want to hazard a guess: which exchanges make the biggest difference to the value of a coin when added? Why?

Just a question out of curiosity.