[ANN] Terracoin (TRC) - Est 2012

[johnwhitestar]

Why don't we make a survey:
How many masternodes are you going to set up?
1-3
3-10
10-30
30-50
more than 50.

[johnwhitestar]

Here are my calculations:
You were assuming that it will be 100 masternodes at the price 10.000 TRC per node.
I'm assuming that at that price it will be straight from the beginning 200 masternodes.
So if the price of one masternode is 5000 we will have 400 masternodes.
We have 97000 TRC per month to split between all this masternodes.
So each masternode will receive 242.5 per month.
Which at the current price means 18.9 USD.
As vultr do not let you to have multiple accounts you have to use Digital Ocean drops at the price of 10 USD per VPS, in order to have multiple masternodes.
Which means that you'll have to sell 128 TRCs to cover your VPS expenses.  
(By the way it means 27% Roi/year at the current price.)
If all the 400 masternodes will need to sell that much of TRCs, it means that we'll have 51322 TRC dump each month.
How many freshly mined TRCs are dumped each month at the moment?

I am not sure but I would guess between 200k - 400k.

Your calculations pretty much proved that 5000 collateral for a masternode is perfect.

Using your math that means we only need 11 new masternode owners per MONTH before the price raises.

Obviously the math doesn't include whales, or people buying to hold, or miners, but otherwise it looks great.  Thanks man!

If the price goes down 27% there will be no Roi.

[clockuniverse]

Here are my calculations:
You were assuming that it will be 100 masternodes at the price 10.000 TRC per node.
I'm assuming that at that price it will be straight from the beginning 200 masternodes.
So if the price of one masternode is 5000 we will have 400 masternodes.
We have 97000 TRC per month to split between all this masternodes.
So each masternode will receive 242.5 per month.
Which at the current price means 18.9 USD.
As vultr do not let you to have multiple accounts you have to use Digital Ocean drops at the price of 10 USD per VPS, in order to have multiple masternodes.
Which means that you'll have to sell 128 TRCs to cover your VPS expenses.  
(By the way it means 27% Roi/year at the current price.)
If all the 400 masternodes will need to sell that much of TRCs, it means that we'll have 51322 TRC dump each month.
How many freshly mined TRCs are dumped each month at the moment?

I am not sure but I would guess between 200k - 400k.

Your calculations pretty much proved that 5000 collateral for a masternode is perfect.

Using your math that means we only need 11 new masternode owners per MONTH before the price raises.

Obviously the math doesn't include whales, or people buying to hold, or miners, but otherwise it looks great.  Thanks man!

If the price goes down 27% there will be no Roi.

Like I already said, your math proves the price of masternodes should be 5000 TRC.  If it only takes 11 new masternodes a month to drive up the price then we are looking forward to a steady climb in price.  We want as many people to have a chance at masternodes as possible.  Half the price of a masternode (from 10k to 5K) helps let more people get in on it as the price of TRC rises.

[Trollollo]

It is good decision to make requirement for node at 5000 TRC. More people on board is always good

[Pump N Dead]

It is good decision to make requirement for node at 5000 TRC. More people on board is always good

nice to know that they are going to reduce the said amount for TRC masternodes,. Already sold mine during the last pump and will try to catch again when holders are impatient.  

[Mmargol@o2.pl]

Hi guys.
I got problem with my wallet which is completly offline (https://play.google.com/store/apps/details?id=com.vasilkoff.terracoinwallet). So I have tryied to import private keys but now I do not know to export them to terracion-qt.
This exported key file is named 'terracoin-wallet-keys-2017-07-27' but I can not find what type of file it is. You can open it only in Note and it is looks like this:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX=

I can not see any option for import private keys in terracoin-qt. Could you help me please, I was trying to find answer manualy but I struggle with that...
 

[clockuniverse]

Hi guys.
I got problem with my wallet which is completly offline (https://play.google.com/store/apps/details?id=com.vasilkoff.terracoinwallet). So I have tryied to import private keys but now I do not know to export them to terracion-qt.
This exported key file is named 'terracoin-wallet-keys-2017-07-27' but I can not find what type of file it is. You can open it only in Note and it is looks like this:

I can not see any option for import private keys in terracoin-qt. Could you help me please, I was trying to find answer manualy but I struggle with that...
 

You definitely don't want to post that key.

I am not near a Terracoin-qt wallet right now, but the instructions are the same as this: https://bitcoin.stackexchange.com/questions/5941/how-do-i-import-a-private-key-into-bitcoin-qt

I also emailed the dev of the broken Android wallet and asked him to remove it from the play store, and I also put in a review on the wallet saying not to use it.

We will have a new Android wallet in a couple of months.

EDIT: Made my comment about the key more urgent.

[IconFirm]

Hi guys.

DELETE YOUR POST. THIS IS YOUR PERSONAL KEYFILE!!

NOW. QUICKLY.

[Mmargol@o2.pl]

IconFirm Sorry for worrie you but I have changed some numbers in this quoted code before I have put it on forum. I was just trying to figure out it is right way how it should looks like.
clockuniverse this way you showing in link it is not working. It shows me Error -5 in dialog window after I type my Passcode and secure key...
https://bitcoin.stackexchange.com/questions/5941/how-do-i-import-a-private-key-into-bitcoin-qt

[IconFirm]

IconFirm Sorry for worrie you but I have changed some numbers in this quoted code before I have put it on forum. I was just trying to figure out it is right way how it should looks like.

Phew! I was worried there for a moment - thanks for telling me.

[clockuniverse]

IconFirm Sorry for worrie you but I have changed some numbers in this quoted code before I have put it on forum. I was just trying to figure out it is right way how it should looks like.
clockuniverse this way you showing in link it is not working. It shows me Error -5 in dialog window after I type my Passcode and secure key...
https://bitcoin.stackexchange.com/questions/5941/how-do-i-import-a-private-key-into-bitcoin-qt

I'm not sure why it would give you that error.  I have only exported and imported a private key once.  I have asked on our slack channel.  Hopefully someone on there will know why it is giving you a hard time.  I will post an answer on here once I get one.  Thanks!

[clockuniverse]

July 27th Terracoin Update - Week

It looks like the testnet will be another week as Ahmed is running behind on the code.

It isn't that big of a deal though, considering that we gave ourselves another 8 weeks for testing and testnet, just in case.

We have kept the original goal of the hard fork happening in 8 weeks and just moved the testnet out a week.

In other news we are ahead of schedule on the new website which should be out soon.

The whale is still keeping the price low so now is the time to get 5,000 Terracoin together for a masternode.

Feel free to join our Slack or Telegram.  Links are the the bottom of this post.

Countdown

Reward halving ≈ 10 Days
Testnet = 1 Week
Hard fork = 8 Weeks

Numbers

30 days ago we were at 0.00001223 BTC (.0307 USD) and today we are at 0.00003073 BTC (.0822 USD).

We are ranked 295 on coinmarketcap with a market cap of $1,732,590 USD.  Last week our market cap was $1,785,173 USD.

Source: http://coinmarketcap.com/currencies/terracoin/#charts

Donation Addresses

Terracoin: 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p
Bitcoin: 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc

Terracoin Donations for the World Address

1BQH6gBzkxxyMQG3VSJCHnmVGfWu64nbPL

Public Slack Invite

https://join.slack.com/t/terracoin/shared_invite/MjE1NTE2MTMwMjI3LTE1MDA1NzgxNjMtOGQwMzdlZWI1Yw

Public Telegram Invite

https://t.me/terracoin

[hanzac]

Hi guys.
I got problem with my wallet which is completly offline (https://play.google.com/store/apps/details?id=com.vasilkoff.terracoinwallet). So I have tryied to import private keys but now I do not know to export them to terracion-qt.
This exported key file is named 'terracoin-wallet-keys-2017-07-27' but I can not find what type of file it is. You can open it only in Note and it is looks like this:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX=

I can not see any option for import private keys in terracoin-qt. Could you help me please, I was trying to find answer manualy but I struggle with that...
 

Maybe this is encoded? You should decode it to plain private key and then import to Terracoin-Qt.

Check this URL: https://bitcoin.stackexchange.com/questions/17176/how-to-decode-private-key-from-android-bitcoin-wallet

[johnwhitestar]

Here are my calculations:
You were assuming that it will be 100 masternodes at the price 10.000 TRC per node.
I'm assuming that at that price it will be straight from the beginning 200 masternodes.
So if the price of one masternode is 5000 we will have 400 masternodes.
We have 97000 TRC per month to split between all this masternodes.
So each masternode will receive 242.5 per month.
Which at the current price means 18.9 USD.
As vultr do not let you to have multiple accounts you have to use Digital Ocean drops at the price of 10 USD per VPS, in order to have multiple masternodes.
Which means that you'll have to sell 128 TRCs to cover your VPS expenses.  
(By the way it means 27% Roi/year at the current price.)
If all the 400 masternodes will need to sell that much of TRCs, it means that we'll have 51322 TRC dump each month.
How many freshly mined TRCs are dumped each month at the moment?

I am not sure but I would guess between 200k - 400k.

Your calculations pretty much proved that 5000 collateral for a masternode is perfect.

Using your math that means we only need 11 new masternode owners per MONTH before the price raises.

Obviously the math doesn't include whales, or people buying to hold, or miners, but otherwise it looks great.  Thanks man!

If the price goes down 27% there will be no Roi.

Like I already said, your math proves the price of masternodes should be 5000 TRC.  If it only takes 11 new masternodes a month to drive up the price then we are looking forward to a steady climb in price.  We want as many people to have a chance at masternodes as possible.  Half the price of a masternode (from 10k to 5K) helps let more people get in on it as the price of TRC rises.

In case we have more than 756 Mn and the whale go on keeping the price where it is the Roi will be negative. And as the Mn price is lowered from 10.000 to 5.000 it likely that we'll have a lot of Mns.

As I wrote here:https://bitcointalk.org/index.php?topic=2007710.msg19989207#msg19989207  and you were trying to make clear here: https://bitcointalk.org/index.php?topic=1364146.msg19983385#msg19983385 with 10.000 TRC per Masternode the early adopters was expected to have huge rewards in the beginning. With the 5000 TRC per Masternode the early adopters will be on the edge of loosing money, at least in the beginning.  

And the decision to change the price of Mn was not discussed with community as well.

[Shalafi]

By croms bones, the space required by the wallet is gargantuan. 80GB? Owhh, I am gonna have to keep my coins in the exchange till' I figure out where to fit this thing...

A lighter wallet would be nice.

[crypto-bear]

Looking at http://masternodes.pro/ - the cheapest MNs have the highest % ROI.

ARC is very similar in price and supply as TRC but you only need 1000 for a MN.

Read into this what you will, but there are other factors influencing price than just MNs.

I could have had a few at 10k but now i have more at 5k... 5k / 10k it doesnt matter imo... im happier with 5k TRC per node and the price is achievable and reachable to many. I think this price will incentivise those who otherwise wouldnt have been able to get a MN (at 10k) and could better encourage a buy and hold mentality among TRC owners as this is a great opportunity to get onboard and hold!

[clockuniverse]

By croms bones, the space required by the wallet is gargantuan. 80GB? Owhh, I am gonna have to keep my coins in the exchange till' I figure out where to fit this thing...

A lighter wallet would be nice.

It isn't really that big.  It is only about 1 gig.  That is some old text from Bitcoin that we never noticed until recently.

[Mmargol@o2.pl]

Hi guys.
I got problem with my wallet which is completly offline (https://play.google.com/store/apps/details?id=com.vasilkoff.terracoinwallet). So I have tryied to import private keys but now I do not know to export them to terracion-qt.
This exported key file is named 'terracoin-wallet-keys-2017-07-27' but I can not find what type of file it is. You can open it only in Note and it is looks like this:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX=

I can not see any option for import private keys in terracoin-qt. Could you help me please, I was trying to find answer manualy but I struggle with that...
 

Maybe this is encoded? You should decode it to plain private key and then import to Terracoin-Qt.

Check this URL: https://bitcoin.stackexchange.com/questions/17176/how-to-decode-private-key-from-android-bitcoin-wallet

Hi. Is there anything I can do on windows? I got '0' knowledge of Linux and stuff like that. Btw if thats future of money I feel sorry for 95% of people

[clockuniverse]

Hi guys.
I got problem with my wallet which is completly offline (https://play.google.com/store/apps/details?id=com.vasilkoff.terracoinwallet). So I have tryied to import private keys but now I do not know to export them to terracion-qt.
This exported key file is named 'terracoin-wallet-keys-2017-07-27' but I can not find what type of file it is. You can open it only in Note and it is looks like this:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX=

I can not see any option for import private keys in terracoin-qt. Could you help me please, I was trying to find answer manualy but I struggle with that...
 

Maybe this is encoded? You should decode it to plain private key and then import to Terracoin-Qt.

Check this URL: https://bitcoin.stackexchange.com/questions/17176/how-to-decode-private-key-from-android-bitcoin-wallet

Hi. Is there anything I can do on windows? I got '0' knowledge of Linux and stuff like that. Btw if thats future of money I feel sorry for 95% of people

Let me see if I can find my old phone.  I have that same Android wallet on there, and I think it has 1 TRC in it, so I can test what is going on.

[clockuniverse]

Hi guys.
I got problem with my wallet which is completly offline (https://play.google.com/store/apps/details?id=com.vasilkoff.terracoinwallet). So I have tryied to import private keys but now I do not know to export them to terracion-qt.
This exported key file is named 'terracoin-wallet-keys-2017-07-27' but I can not find what type of file it is. You can open it only in Note and it is looks like this:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX=

I can not see any option for import private keys in terracoin-qt. Could you help me please, I was trying to find answer manualy but I struggle with that...
 

Maybe this is encoded? You should decode it to plain private key and then import to Terracoin-Qt.

Check this URL: https://bitcoin.stackexchange.com/questions/17176/how-to-decode-private-key-from-android-bitcoin-wallet

Hi. Is there anything I can do on windows? I got '0' knowledge of Linux and stuff like that. Btw if thats future of money I feel sorry for 95% of people

I can duplicate the problem (Android "private key" to Windows).  I don't think what the Android wallet is exporting is a private key though.  It is different every time you do it.

I'll email the dev of it and see if he has any suggestions, but I don't know if he will even respond.  Did you send these coins recently to the Android wallet?  PM me your address.  Thanks!

EDIT: Don't use the Android wallet!!