Thanks for the answer. And just to be clear: When you say risk you mean simply for instance tying up too much SPR so you earn less (because you could have had multiple SNs), and not risk related to any other loss factors I should be aware of? Like if SN reputation, kick rate, stats or similar affect earnings negatively in the long run?
Well, yes, to answer your specific question more directly: Yes, you might miss out on reward if you have too much SPR in an address. But then again, it's not just about splitting large sums into smaller sums. It's also about successfully operating multiple servicenodes, which isn't childsplay. So, I don't look at it as a risk, but rather a question of reward: A person that is technically capable of running multiple well-permorming servicenodes should have the possibility to milk the reward multiple times.BUT: there is a continuous spread of how well he can "thin out" his collateral and spread it over his servicenodes while maintaining a strong claim on each seat. |
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Thanks for the answer. And just to be clear: When you say risk you mean simply for instance tying up too much SPR so you earn less (because you could have had multiple SNs), and not risk related to any other loss factors I should be aware of? Like if SN reputation, kick rate, stats or similar affect earnings negatively in the long run?
Yes, the only thing that concerns you as a servicenode operator is: can you claim the "periodical" reward or not?That's literally the only "financial" risk you have: that you might be running a servicenode for a period without getting payed for it (because you were kicked, or have a very low score, or something else is broken/invalid) Next to this financial risk there are ofcourse other risks, like your server getting hacked, or your bandwidth getting throttled down because you have a cheap VPS, etc... |
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Servicenodes
I understand that when you place a certain amount of SPR as collateral, you get a SN seat (so long as you are not the weakest link and thereby "kicked" when someone outbids you). Do you lose any of this collateral in the event that you are outbidded? If not, then it's just to increase the amount and go again, right?
In theory, I guess you can put all of your SPR as collateral to secure a seat, but the drawback will be that you have no SPR left to run several more SNs, thus making it less lucrative. Am I right? Just trying to work out the mechanics here...
Yes, collaterals aren't "payments to someone" (that this someone might take away from you). No, they are basically "tied lookup addresses" that the network/protocol will constantly check to see if you match the criteria. Yes, there is a spread between less risk and more reward! It's up to you to find out what suits you best. |
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It was my fault 100%. I found an address, didn't save it to my wallet, but sent coins to the address. Idiot.
Don't be so hard on yourself, your case (5 months ago?) helped me make the new wallet even more idiot-proof.  |
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I would like to thank an anonymous donor for sending me SPR after my wallets were stolen last Tuesday (You know who you are). He pm'd me and asked for my SPR address and asked not to be identified. I appreciate you very much. I wanted to let everyone know after this experience (after losing all of my wallets in many coins and a little under $30,000 USD) I have been overwhelmed by the outpour of generosity and support from my fellow community members. I would also like to thank coins101 for offering me a bounty to help with some PR stuff. If there are other bounties please let me know. I am starting from scratch and would like to seriously be a part of the SPR community again. Unfortunately most of my 28,800 SPR came from mining. With difficulty so high it is not a possible thing anymore. I will post my address if anyone feels inclined to drop a SPR or two - I would greatly appreciate it. SYNrMQgCMtBgSwSpDxaU4rp6QmeaxdjJid I would like to announce - PLEASE LEARN FROM MY MISTAKE - I had no virus protection (thought I was safe), I had no anti-keylogger, and used all the same password on all of my encrypted wallets. I am dumb or naive - I don't see the difference. Since last week I have installed Antivirus, Encryption on my volumes, an anti-keylogger, and obfuscated where my wallet files are. I am hoping that if it happens again the hacker/thief will be so frustrated they just give up. Be well all. - pokeytex I'm glad you keep having a good spirit after all this. I have an offer: Can you create a thread with best security practices and post it in the spreadcointalk forum? I will donate a little afterwards. Please do it in the "altcoin taxonomy initiative" subforum: http://spreadcointalk.org/index.php?board=21.0Since if we invite people to download and process all kinds of altcoin daemons with the GenesisExtractor, this can be quite risky. People should be better prepared, and maybe NOT do the processing on their main computer. Please read: "Why do we need altcoin taxonomy": http://spreadcointalk.org/index.php?topic=730.0Link to the GenesisExtractor - Tool: http://spreadcointalk.org/index.php?topic=731.0EDIT: Although the GenesisExtractor doesn't require that you open a firewall port if the daemon asks you for it, there could still be risks in the form that the daemon might have malware in it, etc... |
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Here's a graph of how I see our roadmap into a successful future:  More details tomorrow! |
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What do you mean by standard?
A standard daemon is one that accepts and understands the usual parameters like getinfo, datadir, gepeerinfo, etc... There are coins, like for example ethereum, that don't work like that. http://spreadcointalk.org/index.php?topic=732.0This is the thread where you can post about non-standard daemons you find. You will understand pretty quickly when a daemon is non-standard. (genesisextractor will hang, and not continue) |
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Looks like we will have to split up the coins to some degree so we catch all of them. Otherwise we will get the same lot over and over and while it is good to do cross checks......
Exactly. Once I have this list ready, it will help us split the job between all participants. Also, processing a coin 2 or 3 times should be good enough, anything more than that is probably unnecessary. It'll be fun! So it is necessary to process the same coin a few times. I thought this was the case, that's why i did some of the same ones. I will do as many as i possibly can by tomorrow.(not so obvious ones). It can't hurt, sure, but currently for "altcoin taxonomy" it is much more interesting to find out how many % of all altcoins are standard, how many aren't, and if we can have collision-free IDs with the format I'm currently using. |
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Looks like we will have to split up the coins to some degree so we catch all of them. Otherwise we will get the same lot over and over and while it is good to do cross checks......
Exactly. Once I have this list ready, it will help us split the job between all participants. Also, processing a coin 2 or 3 times should be good enough, anything more than that is probably unnecessary. It'll be fun! |
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Also, the idea is to go thru as many altcoin's as fast as possible. So when you see people who have already processed the top 10 coins, why not go for the top 20, etc... we have about 600 coins to process, lol  But that's why I am creating this automatic list ("List of all processed and unprocessed Altcoins") that will appear here: http://spreadcointalk.org/index.php?topic=733.0...so that you can see immediately which coins haven't been processed yet, and go after them. I'm working on it. |
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I had one issue when i was spamming it. But i calmed down and it worked fine.
Some qt's/coind's don't work, you will have to try qt if coind doesn't work and coind if qt doesn't work.
It's just the first version, I has a few bugs I was made aware of. If it crashes you should go check and see in your taskmanager if it was able to kill the daemon it was currently working with, or else that daemon might be continued in the background. |
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Thanks. But please do only post the raw copy paste in that section, no screenshot, no comments, just the data. (just what you put in the code block) I am creating a script that gathers all the data we will post there and creates a list out of it, that's why! I need it to be clean, makes it easier. If you want to discuss anything genesisextractor related just create a normal thread within the "altcoin taxonomy" thread. Also, I will derive a "top contributor" list, by reading the username of all who has posted. We'll probably find a sponsor to provide a bounty for the top 10 contributors? PS: I see that you mostly used qt-wallets, lol. It seems to work well even with them instead of the daemons. Nice job! |
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lol, I was about to write a long explanation, you are too early/nosy! lol  Update coming very soon! lol. But it looks like I wasn't the first. Already 19 views Ahhrg... atleast the forum finally gets a little bit more traffic. |
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I posted this on the last page, but I don't know if anyone will see it.
Are there any bounties that you need to get completed. (Video showcases or tutorials you want made)
I am really annoyed that I only have 2700 spr. I wanted to buy more today but I just can't seem to find a website to convert AUD into BTC easily (without having to verify an ID or anything). Does anyone know a way?
Edit:
Ok I don't know how, but I just found out that I have an additional 3k spr in bittrex.
Congratulations for your new found wealth. You might hold on to it for a little. About bounties, I'll have something ready for you later. In short: We need to start a community effort regarding what I would like to call altcoin taxonomy.Will explain later in more detail. |
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From the everyday Joe's point of view, decentralised/centralised won't come into it. They won't really understand/care how it works as long as it works. Sorry just the way it is.
I tend to agree with you. It also turned out that most people don't care about anonymity. Not to beat around the bush, that looks like conjecture masquerading as fact - is there any supporting evidence? Cheers Graham I agree, it's just that some people have a pretty pessimistic outlook about their fellow human beings. But I would argue that most people just didn't yet make a real effort to understand the consequences of losing their privacy/anonymity. (bread and circuses keeps them distracted) Or what it means when centralized institutions get to manage other peoples lifes more and more, instead of having individuals act on their own behalf (decentralization). |
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@georgem
I understand why there is only one ip connection and not being able to use home computer with multiple wallets but question. Is it possible to limit to say two or three connections from one IP address?
I know why servers are better and the limited downtime that can occur from connection issues but just wanted to ask.
It's bad from a decentralization standpoint to allow a single node (one IP) to appear like multiple nodes (multiple servicenodes). The only exception is when someone is willing to invest big bucks and rent a giant server with multiple IPs / instances. (Then atleast we can argue that this person adds very valuable traffic / broadband capabilities to the cryptocoin network) Also many people that rent a virtual server will be running side by side with other virtual servers on giant server machines anyway, just on different IPs as virtual instances. That's just the nature of how virtual servers are managed these days. But if we extend this exception to normal home computers that mostly don't have the ability to maintain many connections with the rest of the world 24/7, and are rather limited with the amount of traffic they can put through, then we are doing it wrong. So: 1 servicenode per 1 IP |
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Is it possible to run a servicenode and use the computer for other stuff at the same time? Does it have to run 24/7?
Since the goal is to serve other people, a servicenode is expected to run 24/7, on a server. But you could basically run it from your homecomputer, so during the upcoming testnet sessions you can use your computer ofcourse. But you will get a bad score for your downtime, and will lose your seat immediately, etc... There is also a punishment in the form of how after you reboot, all your altcoin daemons will have to rally and catch up to get synched with all their networks again.(which causes very high CPU load) It's much smoother and less load on your CPU if your full nodes are kept uptodate all the time and just need to process new incoming data (a block at a time). |
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Yes that's something to consider for the future.
I was referring more to the very start (first 2 months).
Thinking more, The first 2 months will only see SN's in the hundreds, so it should be relatively profitable to host a node, and once the network is established with over 1600 nodes the market cap of spr will be through the roof anyway...
I will make a new spreadsheet showing an ascending amount of nodes
Also take into account that when other coins see that we are actively helping their networks with full nodes... well,...I strongly expect some of them to return a little appreciation and gratitude by investing in SPR (and indirectly into full nodes of their coin)  |
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-Changed reward from 30% to 40%
Therefor i propose lowering the factor of 2880
There is another source of income that we have to consider (maybe in later versions). We can think about services that people are willing to pay a small amount of SPR for. For example an Alert-Service of some kind. People might want to receive notification when there is movement in some address, or when a blockchain hasn't updated for X amount of time, or a new record transaction size within a block has been made, or any other thinkable "block chain event" that might happen....etc... Pay 0.1 SPR (or something) and the servicenode network notifies you when something that interests you happens. This additional income then goes to miners (and ergo servicenodes). Yep, those 30-40% will be taken from reward + fees. |
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