If you run with Raspberry Pis, you still need a static IP for each masternode. Check with your ISP on the cost. Usually, one static IP is more expensive than a VPS, but a block of 5 will be a better deal. I would also suggest running an i5 or i7 with virtual machines for multiple masternodes. Cheaper than getting several Raspberry Pis. Raspberry Pis are fun to play with, especially if you want to add temperature or switch sensing to them. I have one that texts me when the mailbox door opens and runs cgminer to control some USB miners. Careful with the lowend offers. I tried to go cheap($1/mo) and had to ditch it. They would stop the dash process after an hour. You really only need 256MB of ram and 5GB of space which should be easy to find for around $5/mo. |
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Masternode owners will surely have an incentive to vote for some features like masternode blinding and 2FA. This only ensures better security for the owners and stability of DASH. Maybe some other features are not as high on the list, but any benefit to the rise in price of DARK will also be the desire of the MN owner. Of course, if there is a big concern about MNs voting no, we could fix the MN% and only have the votes change the mining reward %. Looking at it another way the MN owner makes about 1.5%/mo on a MN. It would be more advantages to donate to anything that would increase the value of DASH by more than 1.5%/mo even if all the rewards need to be spent.
Once block rewards are in an escrow, I find it really unlikely that they will ever be returned. This is just the nature of a tax before allocated system.
The suggestion that 10% or 15% is what is needed, is not specific. Is it needed for 1 month, 10 years? We are talking about a system that could be around in 1000 years with each DASH valued at $10,000+. A % and specific time-frame allocated for each project is the only way I can see this lasting over the long run. There are so many other opportunities for this funding it is really incredible. This could be a way to setup loans that are repaid to miners/mn with additional interest. Start capital projects(like an exchange) that self generate cashflow from fees. This is only possible if the voting and funding system is setup per project per % and per length of time. Think big!
Another problem with the fixed percent is that funding is not always available, or is in excess depending on the projects available. With a project specific % and time, each project can be started immediately. The funds for projects would be provided as the block rewards are generated - no escrow, no inefficient allocation of resources.
Great discussion. We are on to something big.
I think you've interpreted Evan's underlying idea of the value this system represents to masternode holders well. The MN are still investors, and unlike other investments, they have the opportunity to directly make decisions that affect their asset value in terms of exchange rate in other currencies (not the dividends from masternode reward, which is a fixed 45% amount of Dash). Instead of giving the MN an extra 15% in 2016, why not have give them even more incentive to not only hold, but also increase the value of the asset itself. A large Dash reward means nothing if the coin itself is worthless. In this early growth phase of the currency, the growth in exchange rate versus other currencies will offer a much better return on investment than the dividend alone. Actually, this is not quite what I wanted to get across. I believe masternode owners will vote for the benefit of the value of DASH even if it reduces block rewards. But I don't think this should be a forced donation/tax. All funding for development should be voted on before any specific amount is allocated. The default would be 100% of block rewards to miners and masternodes. The allowable funding limit would be capped at 15% and could come from masternode or miner block rewards. Just to list a couple to give some ideas: Long term planning and core development 1% for 2 years, and auto-renews with voting, default vote of yes. Mobile wallets 10% for 1 month, default vote of no Blinding 5% for 1 month, default vote of no 2FAE 5% for 1 month, default vote of no Video 1% of 6 months, default vote of no Secure messaging 1% for 2 months, default vote of no This way we have multiple projects getting worked on at the same time with the most desired first. Core development projects would go forward without a vote needed, but could be vetoed by no votes. Most projects would require a yes vote from x% of masternodes to go forward. |
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I'm extremely excited at the scale of this. Some weeks ago, when the masternode donation system and funding of devs was announced, I was excited but thinking that there wouldn't be nearly enough money to actually incentive development.
But 15% of block rewards? At the current rate of exchange, $40,000 per month or $480,000 per year? That's a staggering amount of funding which can be used for development, marketing, etc. I'm thinking this is very, very good! Imagine how far half a million dollars per year will go if spent wisely!
i think 10% should be plenty for right now. when the project grows and they need more the mn's should vote on it. 40/50/10 - m/mn/dev. Sounds fair enough for me as well. Crossposting from dashtalk: In my opinion, pulling a set amount from the blockchain for future spending encourages frivolous spending. I would instead say that the blockchain amount changes only when there is a need. For example, a proposed video to support Dash needs a 6 month take of 1%. MNs vote and then after approved the split changes. After 6 months the split reverts. We could do the same for new features, wallets, etc. I would encourage each funding proposal to expire after a set time. Putting a permanent 'development tax' on the blockchain sounds really bad to me.
Liking this idea. If there are approved projects to fund, divert that agreed amount to fund them. If not, why stockpile money? Keep a reserve but cap it at something sensible. Don't take from miners and MN ops when it's not needed. Contractors should be paid after they deliver to full spec, never before, we shouldn't be fronting money to anyone. Who's in control of this pot anyway? There's someone out there with 600 MNs or something. What % of votes are needed to decide a poll? Or, we don't have to spend it all. There is nothing wrong with savings. But I suspect that great projects will be submitted and there won't be enough funds around to fund them all. I honestly don't think this will be a problem for quite some time. And if it does become a problem, like minotaur said, unspent funds could go back to the miners. You could do something like an end of the year deposit into yet another account which makes a % payment to found blocks, which should pay out completely in 1 year, and each year there is a surplus of funds, this is done with that account. Xposting DCT I see where you are coming from, the reason why I don't like this idea is because it provides an incentive to masternode operators to not fund projects, abstain or simply vote no. Masternode owners will surely have an incentive to vote for some features like masternode blinding and 2FA. This only ensures better security for the owners and stability of DASH. Maybe some other features are not as high on the list, but any benefit to the rise in price of DARK will also be the desire of the MN owner. Of course, if there is a big concern about MNs voting no, we could fix the MN% and only have the votes change the mining reward %. Looking at it another way the MN owner makes about 1.5%/mo on a MN. It would be more advantages to donate to anything that would increase the value of DASH by more than 1.5%/mo even if all the rewards need to be spent. Once block rewards are in an escrow, I find it really unlikely that they will ever be returned. This is just the nature of a tax before allocated system. The suggestion that 10% or 15% is what is needed, is not specific. Is it needed for 1 month, 10 years? We are talking about a system that could be around in 1000 years with each DASH valued at $10,000+. A % and specific time-frame allocated for each project is the only way I can see this lasting over the long run. There are so many other opportunities for this funding it is really incredible. This could be a way to setup loans that are repaid to miners/mn with additional interest. Start capital projects(like an exchange) that self generate cashflow from fees. This is only possible if the voting and funding system is setup per project per % and per length of time. Think big! Another problem with the fixed percent is that funding is not always available, or is in excess depending on the projects available. With a project specific % and time, each project can be started immediately. The funds for projects would be provided as the block rewards are generated - no escrow, no inefficient allocation of resources. Great discussion. We are on to something big. |
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I would also be interested if anyone has experience with these pools with SHA256. In the past I found that multipools with SHA256 didn't do any better than a straight no fee BTC pool like Eligius/Ghash. If the multipool doesn't convert your coins quickly they often are not as profitable as they were when mined. Non SHA256 multipools do much better at converting quickly since a large portion of the hash power goes to these pools. You can also try Betarigs or Nicehash and rent out your hashrate when above x btc/day. Betarigs worked good for me. Nicehash didn't report hashrate correctly, but I haven't tried it recently. Keep in mind if you have a problem with your miner, you will need to compensate your renter. |
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What is the average daily return on running a masternode not including the VPS cost?
You get paid 2 DASH every 4 days = $2/day. (Numbers are rounded and vary by masternode count.) |
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Sorry if this has been answered before but I've gone over the guides and how to start multiple MN's from a single wallet but it doesn't specifically say if you can run multiple MNs from a single machine? Do I need 5 pi's to run 5 MNs? I understand I can use Amazon or another VPS provider but same question, do I run 5 independent instances? There are other services out there that allow for one setup the MN for you at a very reasonable price but I'm looking to do it myself the same way I got into mining... was painful at the beginning but in the end I felt it was worth it.
...and if I have to run 5 PIs, can they all be run from the same location?
Thnx for the help, the process of setting up a single MN looks pretty straight forward and one of my friends just got his going. Just looking to understand what is the cheapest solution to get 5 going.
Each masternode needs a dedicated IP address. So if you pay for 5 static IP addresses through your ISP you can forward port 9999 for each IP to a PI. You can also use one computer(I5, I7) running virtual machines(5GB disk space and 256MB ram) and each would be forwarded the 9999 port from a static IP address. You may be able to run more than one node on a PI if you are creative with port forwarding(static IP port 9999 --> local port 999x) and specify different data directories. Otherwise run the masternodes from a VPS with a dedicated IP address. Usually you need to buy one instance for each IP. So one instance per masternode. To answer your question on the cheapest solution. The cheapest for me was to get IPs from my ISP at about $2/mo each. I have a media PC running mythbuntu that I use to run virtual machines running masternodes. |
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So just to clarify for my own peace of mind, I'm going to update my local wallet from 0.11.2.16 to 0.11.2.17.
What are the best steps to take to bring both my local wallet and my masternode up to current (.17). Just a quick numbered list of those steps. I don't need detailed tutorial.
Thanks in advance.
To get it on linux faster with wget (I make the dash stop after the dowload to have the daemon down the less time possible, here no need the chmod as it come with the x directly  Edit: you have to be in the directory where your deamon binary is: Here what I use : wget https://www.dashpay.io/binaries/dash-0.11.2.17-linux.tar.gz --no-check-certificate tar zxvf dash-0.11.2.17-linux.tar.gz cp dash-0.11.2.17-linux/bin/64/dashd dashd2 ./dashd stop sleep 10 rm dashd rm .dash/peers.dat mv dashd2 dashd sleep 2 ./dashd sleep 25 ./dashd getinfo And the same thing with only 6 lines. Also removes the old version. :-) wget https://www.dashpay.io/binaries/dash-0.11.2.17-linux.tar.gz -O - | tar -xz ./dashd stop sleep 3 rm dashd .dash/peers.dat -r dash-0.11.2.16-linux/ cp dash-0.11.2.17-linux/bin/64/dashd ~/ ./dashd |
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I am also having a problem getting into the web interface after several hrs.....
oh well, really weird, you should check what the password becomes when this happens. Try to do this from SSH: redis-cli get minera_password Just to know if the password disappears completely or get changed by someone/something. The pool switched is weird too, can you see if the miner_conf.json file get changed too? It's in /var/www/minera/conf dir, look at the date or look at it. Is it your Minera reachable by the public Internet? I did have it exposed to the outside, but now I have that blocked for now. I also changed the W:192.168.0.1/16 to R:/192.... so now any program can read but can't make changes through the cgminer api. Also disabled the scan-all. So far it has been working correctly. Will update with password details if it happens again. I think the changes worked. 3 days no problems. |
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Hello all, I have been following this thread for a while, but this is my first time posting here. I found a site that will pay bills with BTC/LTC/XDG. Huge benefit to me since it will allow me to store more bank funds in DASH and pay bills through this site when needed. They haven't started to accept DASH yet, but I did ask them. https://www.billpayforcoins.comMaybe a couple more people could request DASH to be added and they will do it. |
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I've forgot password to minepeon and I decided to give minera a chance. I have one string miner, bitfury chips, it worked great on minepeon. cgminer and bfgminer on minera can't detect device: [2015-03-28 19:21:20] USB init, open device failed, err -3, you don't have priv
ilege to access - BXF device 1:6-i1
[2015-03-28 19:21:20] See README file included for help
[2015-03-28 19:21:20] bitfury detect (1:6) failed to initialise (incorrect devi
ce?)
Any ideas? I had the same problem and fixed it when I turned on the miner superuser(root) in settings. |
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Minera has a nice interface. I like the graphing and details.
I am also having a problem getting into the web interface after several hrs. I can SSH in and use the echo command above, but then several hours later it I get locked out and have to do it again. I am running the 0.4.1 with a single BFL Monarch. Also running with su level to get the monarch to be detected. Happens with both bgminer 5.1.0 and cgminer 4.9.1. When I am locked out it switches the pool priority and the first pool's user name is changed(instead of the full bitcoin address it is half the letters long). I am also using the default password to be sure that isn't the problem.
I did some checking in the logs, but really couldn't see anything odd. Using 91% of disk space, and 1% of CPU, so that should be ok. Any suggestions?
oh well, really weird, you should check what the password becomes when this happens. Try to do this from SSH: redis-cli get minera_password Just to know if the password disappears completely or get changed by someone/something. The pool switched is weird too, can you see if the miner_conf.json file get changed too? It's in /var/www/minera/conf dir, look at the date or look at it. Is it your Minera reachable by the public Internet? Thanks for feedbacks I did have it exposed to the outside, but now I have that blocked for now. I also changed the W:192.168.0.1/16 to R:/192.... so now any program can read but can't make changes through the cgminer api. Also disabled the scan-all. So far it has been working correctly. Will update with password details if it happens again. I did notice another glitch. If you try to move the 2nd pool to the first spot(dragging with mouse) it will switch the pool urls but not repopulate the first pool username. You end up the 2nd pool username for both spots. |
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Suddenly I'm locked outside Minera. I am 100% sure of my password, but the page simply does not open. meanwhile the miner is running, as I can see on the pool's webpage... What's up here? Should I reset my install?
Minera version? Did you update recently? 0.4.1 No recent updates  Didn't change anything recently... I just leave it running and check from time to time. Well, weird... Is your Minera reachable from the internet? You could investigate in the logs, but by now to reset the password to "minera" just do this in a terminal: echo -n "f6048a781885a51d7156afc13f2fb477" | redis-cli -x set minera_password EDIT: eh oh well, there is also this bug https://github.com/michelem09/minera/issues/123 as workaround you should use only letters-numbers to be sure your password is saved correctly. I just fixed this but I don't release it yet. Minera has a nice interface. I like the graphing and details. I am also having a problem getting into the web interface after several hrs. I can SSH in and use the echo command above, but then several hours later it I get locked out and have to do it again. I am running the 0.4.1 with a single BFL Monarch. Also running with su level to get the monarch to be detected. Happens with both bgminer 5.1.0 and cgminer 4.9.1. When I am locked out it switches the pool priority and the first pool's user name is changed(instead of the full bitcoin address it is half the letters long). I am also using the default password to be sure that isn't the problem. I did some checking in the logs, but really couldn't see anything odd. Using 91% of disk space, and 1% of CPU, so that should be ok. Any suggestions? |
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I agree, be careful with new trading sites.
I will add that I did a small trade with litetree to test it. The transfer to my Dwolla account took less than 24hrs.
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Check out this new site. You can trade litecoins directly into US$. https://www.litetree.comOtherwise as others have said Cryptsy, Vircurex, BTC-E can trade your LTC to BTC. Then go to Coinbase to trade your BTC into $. |
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