FLY COIN ANN.Swapping to "Las Vegas"coin,+Masternodes,Darksend,Stealth, instantX

[vegasguy]

 the collateral amount secures the network also; an attacker might want to run many nodes, so this number is critical in more than one way.

A successful network of Masternodes requirements should prefer servers in datacentres with dedicated IP addresses, not home/business single-ended internet connections.

If your masternodes are popping off and on the network and changing addresses, this will cause more instability than without masternodes.

i am running an incentivized node for vcash.  the focus is on speed and connectability, but dynamic ip addresses don't affect the vcash (multi-tier) network in a negative way, but you do need a very fast machine if you expect to compete with the 'elite'

Same here - @Vegasguy - you may want to look into the Vcash code or minimally the Transfercoin code - both run sweet MN functions.

I will certainly look into both, and then when I understand them, I will explain them in detail , what they are about.

Vegas

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[NoobKidOnTheBlock]

Hey hey everyone I've been gone for a long time on holidays but I'm back now.  Just wondering what's new and in store for FLYcoin Cheers

[bittamak]

Hey hey everyone I've been gone for a long time on holidays but I'm back now.  Just wondering what's new and in store for FLYcoin Cheers

A Poll is being conducted (top of thread) to get views from community...You may want to take a look at vote your opinion.

[NoobKidOnTheBlock]

Hey hey everyone I've been gone for a long time on holidays but I'm back now.  Just wondering what's new and in store for FLYcoin Cheers

A Poll is being conducted (top of thread) to get views from community...You may want to take a look at vote your opinion.

Thanks mate appreciate it

[vegasguy]

 the collateral amount secures the network also; an attacker might want to run many nodes, so this number is critical in more than one way.

A successful network of Masternodes requirements should prefer servers in datacentres with dedicated IP addresses, not home/business single-ended internet connections.

If your masternodes are popping off and on the network and changing addresses, this will cause more instability than without masternodes.

i am running an incentivized node for vcash.  the focus is on speed and connectability, but dynamic ip addresses don't affect the vcash (multi-tier) network in a negative way, but you do need a very fast machine if you expect to compete with the 'elite'

Great suggestion Groggin. I looked into Vcash, and more specifically the reward page. Its not very detailed. Here is what I found.

Node Incentives
The node incentives system donates a portion of the miners coinbase reward to peers that are helping to maintain the network infrastructure. The system is constantly probing for good publicly addressable peers. These peers are voted on using a deterministic scoring system that is secured by the blockchain. Additionally there is a collateral mechanism that (if enabled) can prohibit votes from peers that do not have at least N amount of coins (in a single deposit) in their default wallet address. The only requirements for participating in the incentive system are a possible collateral deposit and a publically addressable peer.

Questions and Answers
How do I know if my client is a candidate for incentive rewards?

Use the getincentiveinfo command in the GUI console. If you see "votecandidate, true" you are eligible to be a candidate.
Will collateral be required?

A collateral deposit of at least 10000 into the default wallet address will be required to be a vote candiate starting at block 220000.
How do I deposit collateral?

You send 10000 coins to your default wallet address found in getincentiveinfo as a single transaction. Within some time it should reflect in getincentiveinfo if the deposit is equal or greater than 10000.
What is the incentive percentage?

Schedule: https://gist.github.com/john-connor/967ba7f7e9dd0ec1f7a9


My question is: Your said

"The focus is on speed and connectability,"

.

So, when you say speed, is it speed of the computer hosting the wallet? Speed of internet connection?

Also you mention connect-ability as a factor. Can you be more detailed?

If anyone else knows , please chime in.

Vegas

[groggin]

 

So, when you say speed, is it speed of the computer hosting the wallet? Speed of internet connection?

Also you mention connect-ability as a factor. Can you be more detailed?

If anyone else knows , please chime in.

Vegas

  vcash has peers and superpeers. superpeers are more connectable; they've opened a port. the network they support exists in RAM on the host machines (vcash now/soon supports instant off blackchain txes, with 'zerotime' and 'zeroledger')
  the internal voting system favors peers with faster response times and longer up times
  i recently had to upgrade from hdd to sdd storage for my O.S. drive, as with the hard drive my computer was getting fewer and fewer rewards
not sure what effect i.s.p. speed has on the whole picture, i have a fiber-optic connection, but not the fastest plan
a key feature of the vcash network is its use of udp connectivity

[winmon]

The more one sees, the more complicated bitcoin becomes, lol

soooo  technical...... good thing there are folks around who understand all this stuff....... 

[vegasguy]

After Griffith looked over everything, he tells me that a core update AND adding masternodes will NOT require a coin swap. So Im going to ask him to move forward. Looks like masternodes will be at the cost of 1000 fly (Unless you guys want to go higher). I would like to see them cost 2000 fly to keep them rare. Its still early, so let me know.

Vegas

[TimC]

After Griffith looked over everything, he tells me that a core update AND adding masternodes will NOT require a coin swap. So Im going to ask him to move forward. Looks like masternodes will be at the cost of 1000 fly (Unless you guys want to go higher). I would like to see them cost 2000 fly to keep them rare. Its still early, so let me know.

Vegas

Nice. I'm looking forward to running a Master Node. I was one of the three that voted for Master Nodes. 1000 FLY is fine with me. 2000 FLY is also OK but that does make is harder to get into a FLY Master Node.
Keep up the good work!

[vegasguy]

After Griffith looked over everything, he tells me that a core update AND adding masternodes will NOT require a coin swap. So Im going to ask him to move forward. Looks like masternodes will be at the cost of 1000 fly (Unless you guys want to go higher). I would like to see them cost 2000 fly to keep them rare. Its still early, so let me know.

Vegas

Nice. I'm looking forward to running a Master Node. I was one of the three votes that voted for Master Nodes. 1000 FLY is fine with me. 2000 FLY is also OK but that does make is harder to get into a FLY Master Node.
Keep up the good work!

Thats what we need to discuss is the price of a masternode. 1000 Fly would allow more people to get in and would add buy pressure. 2000 could cause more people to buy that amount to get masternodes and cause heavy buy pressure, some may not even try to reach that far. So heres were I need some feedback. What should the price of a masternode of fly cost?

Vegas

[pokeytex]

After Griffith looked over everything, he tells me that a core update AND adding masternodes will NOT require a coin swap. So Im going to ask him to move forward. Looks like masternodes will be at the cost of 1000 fly (Unless you guys want to go higher). I would like to see them cost 2000 fly to keep them rare. Its still early, so let me know.

Vegas

Nice. I'm looking forward to running a Master Node. I was one of the three votes that voted for Master Nodes. 1000 FLY is fine with me. 2000 FLY is also OK but that does make is harder to get into a FLY Master Node.
Keep up the good work!

Thats what we need to discuss is the price of a masternode. 1000 Fly would allow more people to get in and would add buy pressure. 2000 could cause more people to buy that amount to get masternodes and cause heavy buy pressure, some may not even try to reach that far. So heres were I need some feedback. What should the price of a masternode of fly cost?

Vegas

Keep in mind there is not a lot of Fly on the free market.  There has to be a reason for people to want to buy Fly to create a masternode.  If you make it 2000 fly then what is the reason someone is going to invest (2) BTC or $1150 USD at todays rate to run (1) masternode.  Calculated at 100,000 satoshis.  I don't think you should set a masternode at 2000 fly.  We will bury ourselves in the corner where no one else can play.  If we had new tech that we created then I can see offering a MN for 2000 fly but Fly is not a high/new tech coin, it is a clone.  What is the difference between Transfercoin and Flycoin that would make me want to spend that much more?  Just posing a question - not beating up on Fly! 

[winmon]

I think you'll find that even 1000 fly is too high....  the only masternodes will be created by people that already have 1000 fly, or very close to it... I don't think a lot of fly will be purchased for the purpose of operating a masternode; I think that's pretty much what you were saying, Pokey....

But I am far from experienced in masternodes!

[pokeytex]

I think you'll find that even 1000 fly is too high....  the only masternodes will be created by people that already have 1000 fly, or very close to it... I don't think a lot of fly will be purchased for the purpose of operating a masternode; I think that's pretty much what you were saying, Pokey....

But I am far from experienced in masternodes!

Correct! 100% - I thought 500 fly was reasonable but don't even really know for sure if that is the right number.

[vegasguy]

First , thank you for your guys feedback. It truly matters what your opinion is. The way I see fly in the future is a wallet of many things. Options galore. I think Masternodes is a great idea, and we can start implementing it next week. For those of you that dont know, the reason you would invest more into a masternode is because you would actually get more rewards from the entire POS system. If you look at Dash for example their masternode system takes 40% of the POS and then divides that among the masternode holders depending on how many masternodes each person owns. 500 fly for a masternode could be too easy to obtain. I want people to stretch and buy fly for higher rewards. I would appreciate others to chime in and give their opinion on what they think a masternode should cost. Keep in mind, if we set it at 1000 fly for a masternode, and there are those that want them bad enough, they will pay higher prices to get that masternode. So the fact there is not enough to go around is a good thing. Supply and demand. Thats why my gut says, set it high (at 1000 fly) , so there is always buy pressure. Sellers that got in early will make nice profits as people will be placing buy orders to get their masternodes, or go to the buy side (thus raising prices)

Vegas

[vegasguy]

Guys , just a quick note. Don Freddy who was one of the original users of fly lost 340 fly when the whole fiasco with the long addresses on the exchange happened. He has been compensated in full.

Vegas

[crazyivan]

I d go with at least 1k Fly per masternode. Look at Dash, only holders with a lot of Dash can run those and there are not many of them compared to the number of Dash users. If we let masternode limit to be too low, everybody ll run them and create excess fly in the market resulting in dumping and price decrease.

As in everything else, you ve gotta SPEND money in order to MAKE money. So, if u want to run masternode, buy some Fly. That s the whole point. Not to crease charity system for people who d like to make some quick money and run to some other coin as soon as there s some kind of opportunity.

[midnight_miner]

As stated in https://bitcointalk.org/index.php?topic=1316737.msg15763854#msg15763854

The cost of a Masternode and the compensation for running a Masternode is require some modeling and forcasting to be planned properly.

Waiting for some more information on the plan and for some numbers to be laid out, to see if this will scale proportionally (Masternodes vs. regular wallets).

With Masternodes Fly has the potential to become a decentralized PoSP based on the number of staking nodes compared to the amount of money supply held in staking wallets to control the staking returns.

The Masternodes could modulate the returns to promote better returns on a more active coin rather than a coin with a money supply held in ~100 staking wallets.

[BTC-BTC-BTC]

As stated in https://bitcointalk.org/index.php?topic=1316737.msg15763854#msg15763854

The cost of a Masternode and the compensation for running a Masternode is require some modeling and forcasting to be planned properly.

Waiting for some more information on the plan and for some numbers to be laid out, to see if this will scale proportionally (Masternodes vs. regular wallets).

With Masternodes Fly has the potential to become a decentralized PoSP based on the number of staking nodes compared to the amount of money supply held in staking wallets to control the staking returns.

The Masternodes could modulate the returns to promote better returns on a more active coin rather than a coin with a money supply held in ~100 staking wallets.

I agree. We have to balance out on coin supply/rewards on masternode/number of coins required for the masternode. It doesn't mean more coins required for the masternode will drive up the demand. For the masternode to work need a lot of people need to stake their coins. If all the big holders converted their coins into MNS (that means taking more coins from staking) will decrease the rewards for all masternodes as well.

[carlo_0000]

what s the current last wallet version ?
my wallet crash and i get no node now  i mon 2.3.0

[winmon]

Yes, that is the current version of the wallet, and it's been very stable, so don't know why it's giving you problems;  might try emptying your APPDATA folder (except wallet.dat, of course) and re-syncing from scratch... it doesn't take too long.

I don't even use a config file (thus, no nodes programmed in), and I have 9 connections at this moment.