meadefreling
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February 09, 2016, 06:07:17 AM |
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@ incognitoworker my wallet is now synchronizing thank you, i have also replied your pm, however is it possible to operate masternodes with less than 10000 dnet coins?
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incognitoworker
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February 09, 2016, 06:16:37 AM |
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@ incognitoworker my wallet is now synchronizing thank you, i have also replied your pm, however is it possible to operate masternodes with less than 10000 dnet coins?
No, unless you share a node with someone. Sent you a proposal on how you could do it on PM. Happy you got i syncing, let me know if anything else  IW |
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meadefreling
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Activity: 210
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★YoBit.Net★ 350+ Coins Exchange & Dice
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February 09, 2016, 06:25:39 AM |
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@ incognitoworker my wallet is now synchronizing thank you, i have also replied your pm, however is it possible to operate masternodes with less than 10000 dnet coins?
No, unless you share a node with someone. Sent you a proposal on how you could do it on PM. Happy you got i syncing, let me know if anything else IW Thank you, i have replied that however my wallet synchronizing with network 1 hour behind is taking too long. is there anything that i can do about this? |
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incognitoworker
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February 09, 2016, 06:44:50 AM |
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@ incognitoworker my wallet is now synchronizing thank you, i have also replied your pm, however is it possible to operate masternodes with less than 10000 dnet coins?
No, unless you share a node with someone. Sent you a proposal on how you could do it on PM. Happy you got i syncing, let me know if anything else IW Thank you, i have replied that however my wallet synchronizing with network 1 hour behind is taking too long. is there anything that i can do about this? Yes, go get a cup of coffee and then check back, shouldnt take very long at all I dont think there is a bootstrap available, then again a fresh sync would likely be faster anyway. IW |
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meadefreling
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★YoBit.Net★ 350+ Coins Exchange & Dice
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February 09, 2016, 06:48:45 AM |
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@ incognitoworker my wallet is now synchronizing thank you, i have also replied your pm, however is it possible to operate masternodes with less than 10000 dnet coins?
No, unless you share a node with someone. Sent you a proposal on how you could do it on PM. Happy you got i syncing, let me know if anything else IW Thank you, i have replied that however my wallet synchronizing with network 1 hour behind is taking too long. is there anything that i can do about this? Yes, go get a cup of coffee and then check back, shouldnt take very long at all I dont think there is a bootstrap available, then again a fresh sync would likely be faster anyway. IW then again a fresh sync would likely be faster anyway. i have tried this but is not working, i will go and get a cup of coffee then  |
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CosaNostra
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February 09, 2016, 12:06:14 PM |
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I've set up a masternode (Masternode successfully started), but not getting any payments...
How to understand if it's working properly?
Thanks!
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incognitoworker
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February 09, 2016, 12:59:25 PM |
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I've set up a masternode (Masternode successfully started), but not getting any payments...
How to understand if it's working properly?
Thanks!
It can take awhile before first payment, sometimes minutes sometimes hours.. It is started, and rewards will come. IW |
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bathrobehero
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Merit: 1051
ICO? Not even once.
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February 09, 2016, 02:26:19 PM |
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@meadefreling Add the nodes to your config from the main post. I just did a fresh resync and it took a bit over a minute to fully sync to the blockchain and another 2-3 minutes to sync with the masternodes. I've set up a masternode (Masternode successfully started), but not getting any payments...
How to understand if it's working properly?
Thanks!
Once you successfully started your masternode you can see your masternode ID with masternode status. It's the long, 64 character piece. Then you can see all the masternodes with masternode list. If you see your masternode ID in that list your masternode is running. At least this is how I usually check it. |
Not your keys, not your coins!
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CosaNostra
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February 09, 2016, 06:19:08 PM |
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Today is the day of great news! |
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CosaNostra
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February 09, 2016, 06:23:31 PM |
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@meadefreling Add the nodes to your config from the main post. I just did a fresh resync and it took a bit over a minute to fully sync to the blockchain and another 2-3 minutes to sync with the masternodes. I've set up a masternode (Masternode successfully started), but not getting any payments...
How to understand if it's working properly?
Thanks!
Once you successfully started your masternode you can see your masternode ID with masternode status. It's the long, 64 character piece. Then you can see all the masternodes with masternode list. If you see your masternode ID in that list your masternode is running. At least this is how I usually check it. Thanks a lot, that's tricky! it says ENABLED!  |
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SockPuppetAccount
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February 09, 2016, 10:08:03 PM |
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Ok, so after that productive discussion, this is the proposal I have come up with.
Guarantee masternode bonus of 1.25-1.5x (or somewhere in between) as long as 2 conditions are met : the total amount of coins locked in masternodes is less than 50% of the entire current coin supply, AND less than 75% of the total number of coins that are ACTIVELY staking OR in masternodes.
-The limit of 50% of the entire coin supply is to ensure that at least 50% of the total coins will remain liquid and/or staking to secure the blockchain. At 10,000 DNET per masternode, that's gonna leave room for a network of well over 3,000 masternodes by the time PoW ends. That is a hell of a lot of masternodes, so I wouldn't expect that limit to be reached anytime soon. There will be plenty of time and room for newcomers to be able to secure a masternode at the bonus rate for a long time to come.
-The limit of masternodes representing less than 75% of the actively staking coins + masternode coins is because the first condition I laid out would only potentially even begin to come into play YEARS down the road. This second condition is designed to protect the network from getting too lopsided in the early days. We all know that 100% of the coins will never be staking or in masternodes at any given time. Not everyone runs their wallet to stake or masternode 24/7. Some don't at all. I felt it important to separate these into 2 conditions so that the limit could be higher than 50% if only active staking coins and masternodes are considered. If participation in staking is too low and/or masternoders get overzealous, the 50% limit could be reached quickly and newcomers would be discouraged from investing, if we didn't have separate conditions for total coins and actively staking/masternode coins. At the same time, a line in the sand has to be drawn somewhere and 75% sounded reasonable.
As far as rewards go, there will never be a set reward for staking or masternodes. The rewards would change dynamically each block using the "seesaw" mechanism + comparing network weight to the theoretical weight of masternode coins as we discussed earlier.
I know it is intended for there to be a portion of each block allocated to developer budget but let's disregard that for now. For the sake of the example, say the block reward is 100 total. There are 1,000,000 coins actively staking and 500,000 coins in masternodes. Say the masternode bonus is 1.5x. The 500,000 coins locked in masternodes get multiplied by 1.5 to equal a theoretical weight of 750,000. We add this to the actual network weight of 1,000,000 and get 1,750,000. On this block, the staker will receive 1,000,000/1,750,000 x 100 = 57.14 DNET, and the masternode will receive 750,000/1,750,000 x 100 = 42.86 DNET.
It seems a little paradoxical at first, and I can already see newbies complaining "WTF?!?!?! I set up a masternode and my reward lowered!?!??!?!", but I am pretty sure everyone that has been involved in this discussion so far understands that the masternode (in this example) is going to get rewards more often. So even though each individual reward maybe smaller than the staker receives, the more frequent rewards will add up to 1.5x what the staker receives.
Rewards will follow this relatively simply calculation, UNLESS either of the first two conditions are not met. In that case, the masternode bonus will begin to rapidly fall, even sub-1.0 if necessary to encourage some masternodes to shut off and stake instead.
I think that about sums it up. The exact percentages and the masternode bonus can be debated, but I just wanted to pull all the ideas together into one cohesive straightforward post. I think a reward schedule like this would be the most fair and balanced schedule we have ever seen in a PoS + masternode coin, IMO.
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ocminer
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February 10, 2016, 05:32:55 PM |
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Suprnova updated to latest github code
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suprnova pools - reliable mining pools - #suprnova on freenet https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools |
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meadefreling
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February 10, 2016, 09:51:59 PM |
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This is a great news indeed but any hope of price increase for this coin?
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4x13 (OP)
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February 10, 2016, 10:59:39 PM |
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Of course there is hope, This coin has just begun.. It will go far, and soon those who don't already have a Masternode will wish they had built them now.. |
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4x13 (OP)
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February 10, 2016, 11:01:24 PM |
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Suprnova updated to latest github code
Awesome, Thank You!! |
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meadefreling
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Activity: 210
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★YoBit.Net★ 350+ Coins Exchange & Dice
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February 11, 2016, 12:03:47 AM |
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Of course there is hope, This coin has just begun.. It will go far, and soon those who don't already have a Masternode will wish they had built them now.. This masternode of a thing is very complicated though someone wanted to assist me but is there any simple to understand guide about how to set this up on a vps. I am not a tech guy and i need a lame man language to get this done or someone could help me to do it on my vps. |
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King Buzz
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love life...
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February 11, 2016, 12:21:02 AM |
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sending some btc over to the exchange now.. see if it picks me up :]
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4x13 (OP)
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Activity: 1078
Merit: 1011
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February 11, 2016, 01:12:30 AM |
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Of course there is hope, This coin has just begun.. It will go far, and soon those who don't already have a Masternode will wish they had built them now.. This masternode of a thing is very complicated though someone wanted to assist me but is there any simple to understand guide about how to set this up on a vps. I am not a tech guy and i need a lame man language to get this done or someone could help me to do it on my vps. Yes, Check page 8 of this ANN |
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