ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Security Centric For All

[HarryPotHead]

What is a master node?

In exchange for having a certain amount of collateral in your wallet, you can set up a masternode that gets a share of the reward, every time a block is found. In this case, the share would be 75% of the reward. In return, your masternode should do something called coin mixing. It will also help with processing dark send and instant tx transactions. Masternodes actually do this function with Dash.  Furthermore, unless Masternodes are enforced, there is a way someone can bypass this and have a wallet that does not pay to Masternodes. It appears many of the masternode plus POS 2.0 clones do not do this function properly, from what I can determine. Could be wrong....I'm probably not going to be involved in this coin unless the Masternodes actually do what they are supposed to and are enforced like in Dash.  Of course, over 1.3 BTC needed to get a Masternode is a big investment. Probably out of my price range anyway.

Thanks for the great explanation. I think I understand it mostly but do I need to buy a server or a new master node computer to run this or is it all in my wallet. I dont have extra money to be buying private servers or separate machines to turn into a cbit miner.

It all works in the wallet. No need for private server.

But how do I set up the node? Is it going to be complicated? I've never owned a master node before.

Here are instruction for setting up a masternode for Fade coin in their OP. (An abandoned coin that was taken over and now the takeover is going nowhere too.) https://bitcointalk.org/index.php?topic=1068458.0
I'm sure the instructions for this coin will be similar, with a few different parameters.

Thanks Bones. Looks like I should be able to set one up pretty easily even with my limited computer skills. I Just sent over 1.4 btc and I'll be buying 14000 coins to run a node and have a few left over. Thanks for all your great answers. You have been more then helpful.

[couer22]

So 75% staking on each masternode, and 1.3 btc to run a masternode. And no cap on the number of masternodes.So the people who put in for example 4 btc will be running 3 nodes and getting 75% stake on each?

How cpu intensive is running a masternode?

[HarryPotHead]

So 75% staking on each masternode, and 1.3 btc to run a masternode. And no cap on the number of masternodes.So the people who put in for example 4 btc will be running 3 nodes and getting 75% stake on each?

How cpu intensive is running a masternode?

From the limited amount of information I have on the subject and the reading I did today it would appear that running a master node is not going to slow down your computer.

[Baghead]

People are only seeing the money angle of this.  Masternodes got people all jizzed. Look at the big picture people, personal security suite / cloud option / single layer 2FA. That is what you should be noticing. Never been done before. They pull this off there is no problem becoming  "the Coinbase of alts"

Cryptbase. I like the name. Genius.

[TrueAnon]

blah blah blah this is pure garbage ICO scam. So obvious

[freakying99]

People are only seeing the money angle of this.  Masternodes got people all jizzed. Look at the big picture people, personal security suite / cloud option / single layer 2FA. That is what you should be noticing. Never been done before. They pull this off there is no problem becoming  "the Coinbase of alts"

Cryptbase. I like the name. Genius.

Have to agree here, the masternodes are ofc great, and many will run them with the big rewards that they gain, BUT the big picture will be the other tech, it's a win-win for the blockchain and its purpose.

[vervolioman]

So 75% staking on each masternode, and 1.3 btc to run a masternode. And no cap on the number of masternodes.So the people who put in for example 4 btc will be running 3 nodes and getting 75% stake on each?

How cpu intensive is running a masternode?

From the limited amount of information I have on the subject and the reading I did today it would appear that running a master node is not going to slow down your computer.

Thats good my comp has already started to slow and could not deal with it being any slower because of running a node.

People are only seeing the money angle of this.  Masternodes got people all jizzed. Look at the big picture people, personal security suite / cloud option / single layer 2FA. That is what you should be noticing. Never been done before. They pull this off there is no problem becoming  "the Coinbase of alts"

Cryptbase. I like the name. Genius.

Have to agree here, the masternodes are ofc great, and many will run them with the big rewards that they gain, BUT the big picture will be the other tech, it's a win-win for the blockchain and its purpose.

The coinbase of alts CryptBase does have a ring to it, this could well be massive if its pulled of as planned.

[neordicICE]

Just picked up 14000 cbit to be able to run a masternode. If it starts selling out I'll pick up a few more. Question for devs though; Will there be instructions on how to set up a masternode or must we figure it out ourselfs.

[Bobsurplus]

I'm watching this one. Devs, do you have an eta on when the 2fa will be implemented?

[neordicICE]

The Bobster. Bob-a-reno. Either everyone needs to run for the hills right this second or they need to go all in right this second.
Which one will it be this time bob?

[15Lemon714]

Just picked up 14000 cbit to be able to run a masternode. If it starts selling out I'll pick up a few more. Question for devs though; Will there be instructions on how to set up a masternode or must we figure it out ourselfs.

I too would like to know about instructions on setting up masternode. I have enough but have never ran one before 

[udet4food]

The Bobster. Bob-a-reno. Either everyone needs to run for the hills right this second or they need to go all in right this second.
Which one will it be this time bob?

Rahaha i went all in lastnight and this morning, i hope that was the right choice. Exciting times when the whales and sharks got their eyes on it!

[Bobsurplus]

The Bobster. Bob-a-reno. Either everyone needs to run for the hills right this second or they need to go all in right this second.
Which one will it be this time bob?

Your call is as good as mine.

[bones261]

The Bobster. Bob-a-reno. Either everyone needs to run for the hills right this second or they need to go all in right this second.
Which one will it be this time bob?

It appears Bob is just sticking his toe in the water ATM.  Whether Bob gets into the water depends on whether he gets the right answers to his questions.  Hope Bob asks more on this forum and the dev team gives him good answers. It would be the best sales pitch ever.

[co5hike]

Never heard of this coin. What is it? Masternodes and wallet security?

Hard to read the OP on a cell. Has anyone posted a TLDR?

[neordicICE]

Never heard of this coin. What is it? Masternodes and wallet security?

Hard to read the OP on a cell. Has anyone posted a TLDR?

tldr is they're focused on security and will be implementing extra layers of security along with pos 3.0, masternodes, 2Fa, clouds, cryptbase.com ect.

[neordicICE]

The Bobster. Bob-a-reno. Either everyone needs to run for the hills right this second or they need to go all in right this second.
Which one will it be this time bob?

It appears Bob is just sticking his toe in the water ATM.  Whether Bob gets into the water depends on whether he gets the right answers to his questions.  Hope Bob asks more on this forum and the dev team gives him good answers. It would be the best sales pitch ever.

One never knows what bob is doing until hes finished doing it, the only consensus on bob is when he leaves a coin for good.

[zaph3t]

lol! You can check my posts history. Im an investors like yourself and just given my opinion. You can buy as many as you want since you are a smart person - it is your own BTC.

investors only fud when it benefits them.  You are not an investor you are a fud puppet or a complete newb.

You are such an idiot or a complete stupid investor. You cant make a difference between an opinion and a fud? very stupidity from you.

[udet4food]

The Bobster. Bob-a-reno. Either everyone needs to run for the hills right this second or they need to go all in right this second.
Which one will it be this time bob?

It appears Bob is just sticking his toe in the water ATM.  Whether Bob gets into the water depends on whether he gets the right answers to his questions.  Hope Bob asks more on this forum and the dev team gives him good answers. It would be the best sales pitch ever.

Have to agree if the Bobs questions are answered to his liking and he gets involved; i will be a happy with my invesment I've made more than already am.

[deluxeCITY]

What is a master node?

In exchange for having a certain amount of collateral in your wallet, you can set up a masternode that gets a share of the reward, every time a block is found. In this case, the share would be 75% of the reward. In return, your masternode should do something called coin mixing. It will also help with processing dark send and instant tx transactions. Masternodes actually do this function with Dash.  Furthermore, unless Masternodes are enforced, there is a way someone can bypass this and have a wallet that does not pay to Masternodes. It appears many of the masternode plus POS 2.0 clones do not do this function properly, from what I can determine. Could be wrong....I'm probably not going to be involved in this coin unless the Masternodes actually do what they are supposed to and are enforced like in Dash.  Of course, over 1.3 BTC needed to get a Masternode is a big investment. Probably out of my price range anyway.

I still dont understand the need for a masternode or what it really does for the coin. Does it help to secure the network or is it just a giant mixer?