[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency

[pille]

before I go run out buy something I don't need. What do I need ...

Most important thing.  1 Static IP.  Without that, you're going to be in trouble.

This is my only problem, so VPS is the best solution for me. What I always asked myself: would DynDNS a solution for this (no static IP)?

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[pille]

what happens when a masternode is mixing coins and then loses internet connection while mixing? what happens to the coins?

no, it will interrupt, you may have to pay a small fee. the worse is, when your hardware fail while mixing. with big amounts you can lose coins (already happened, keypool can't hold the amount of addresses required for mixing). they are working on a solution for this.

-> at the moment you better mix small amounts only

[alex-ru]

Read through my tutorial @ https://dashtalk.org/threads/masternode-on-raspberry-pi-2-model-b.4083/ for what you need. Basics is just the pi2 and a ppower supply. I'm only using 1,5A cut I don't have aany USB devices attached.

And dont forget micro SD card and LAN cable or wifi stick (yes I know, he may own this already)

Maybe soon it'll be possible to run Masternode just on Micro-SD format.  
http://techcrunch.com/2015/05/29/googles-project-vault-is-a-secure-computing-environment-on-a-micro-sd-card-for-any-platform/

[pille]

Maybe soon it'll be possible to run Masternode just on Micro-SD format.  
http://techcrunch.com/2015/05/29/googles-project-vault-is-a-secure-computing-environment-on-a-micro-sd-card-for-any-platform/

Very cool! I also like this one: https://www.kickstarter.com/projects/1598272670/chip-the-worlds-first-9-computer?lang=de

But yours is even cooler because no power supply needed 

[sangoku]

before I go run out buy something I don't need. What do I need ...

Most important thing.  1 Static IP.  Without that, you're going to be in trouble.

When a masternode with Dynamic IP

[Sub-Ether]

Most important thing.  1 Static IP.  Without that, you're going to be in trouble.
When a masternode with Dynamic IP

Could run a hot /cold wallet in 1 machine with a dynamic IP.

[bluebit25]

Say you have a masternode running, but you would like to take it offline for whatever reason. Has a feature been implemented where you click a button in the masternode software to inform the network to stop sending coins to mix, that way I can safely take the masternode offline without holding onto peoples coins?

[patrolman]

Say you have a masternode running, but you would like to take it offline for whatever reason. Has a feature been implemented where you click a button in the masternode software to inform the network to stop sending coins to mix, that way I can safely take the masternode offline without holding onto peoples coins?

The coins never actually leave your wallet. You wait for others to mix at the same time but your coins are sent to other addresses in your own wallet.

[bluebit25]

before I go run out buy something I don't need. What do I need ...

Most important thing.  1 Static IP.  Without that, you're going to be in trouble.

This is my only problem, so VPS is the best solution for me. What I always asked myself: would DynDNS a solution for this (no static IP)?

Is it hard getting a static ip?

[oaxaca]

Is it hard getting a static ip?

Ask your ISP.  If you want a VPS, try http://lowendbox.com/

[bluebit25]

My internet provider said they don't use static ip. What are my options? Can I still run a masternode on a raspberry pi? I really want to do this, sounds like a lot of fun  

Could I use a dynamic DNS service like no-ip.com?

Man this video really helped me understand DNS: http://www.noip.com/what-is-dns

Does the Raspberry pi get hot while running the masternode? Would I need a fan if the indoor temperature is at 75F?

[klintay]

My internet provider said they don't use static ip. What are my options? Can I still run a masternode on a raspberry pi? I really want to do this, sounds like a lot of fun  

Could I use a dynamic DNS service like no-ip.com?

Man this video really helped me understand DNS: http://www.noip.com/what-is-dns

Does the Raspberry pi get hot while running the masternode? Would I need a fan if the indoor temperature is at 75F?

Yeah the raspberry pi 2 can handle it, it doesn't get too hot but you might as well buy some mini heat sinks as well
Its all available here on the forum: https://bitcointalk.org/index.php?topic=954279.0;all

[coingun]

I'm trying to understand this masternode system correctly. Currently, masternodes get paid less than $2 per day. That's not a lot. It takes 1,000 DASH to buy a Masternode. Where does the money that pays these nodes come from? From the miners?

More Masternodes = Price up initially to buy 1, then its Dash price slowly goes down each time the masternode owner decides to sell some of his earned DASH. So basically want is happening is that the value from the miners get's transfered to masternode owners.

Let's say lots of people want DASH for multiple reasons: anonymous, fast, voting, decentralized, etc. and the price rises a lot. This would mean that it would cost more to buy a Masternode. The higher the price, the more money you need to buy one. That means, that eventually, the growth of masternodes will slow down with price rises. But...the higher the price of 1 masternode, the more the owners get paid per day? So would it be possible to get paid $15 per day for 1 masternode in the future? Would that cause more people to buy masternodes?

Will miners eventually stop mining when there are no more blocks left in the future? In how many years? Would that be the end of DASH? Masternode owners not getting paid.


Oh I totally forgot this essential part: Masternodes get paid to mix coins. Now it all makes sense to me. If you want your coins mixed you got to pay for this service, and I'm sure other services might be added to Masternodes in the future.

Do Masternode owners get paid if a user does Instasend or Darksend?

Does this help...? https://dashdot.io/alpha/?page_id=50

[coingun]

I'm trying to understand this masternode system correctly. Currently, masternodes get paid less than $2 per day. That's not a lot. It takes 1,000 DASH to buy a Masternode. Where does the money that pays these nodes come from? From the miners?

More Masternodes = Price up initially to buy 1, then its Dash price slowly goes down each time the masternode owner decides to sell some of his earned DASH. So basically want is happening is that the value from the miners get's transfered to masternode owners.

Let's say lots of people want DASH for multiple reasons: anonymous, fast, voting, decentralized, etc. and the price rises a lot. This would mean that it would cost more to buy a Masternode. The higher the price, the more money you need to buy one. That means, that eventually, the growth of masternodes will slow down with price rises. But...the higher the price of 1 masternode, the more the owners get paid per day? So would it be possible to get paid $15 per day for 1 masternode in the future? Would that cause more people to buy masternodes?

Will miners eventually stop mining when there are no more blocks left in the future? In how many years? Would that be the end of DASH? Masternode owners not getting paid.


Oh I totally forgot this essential part: Masternodes get paid to mix coins. Now it all makes sense to me. If you want your coins mixed you got to pay for this service, and I'm sure other services might be added to Masternodes in the future.

OK, let me try to help. You don't "buy" masternodes, a masternode is a Dash full node that besides basic services like propagating messages and securing the network also provide special services like mixing and securing instant transactions, all coins need full nodes but most coins only use them for the basic functions inherited from Bitcoin. In the case of Dash there is added value functionality that is provided by the full nodes.   The 1000DASH is a collateral that establishes a bond of trust between the masternode and the network and prevents Sybil attacks, because people can't just create a bunch of full nodes for free to attack the network, this makes the masternode network really secure.  In this sense the 1000DASH are a collateral, you don't "buy" a masternode as you never give up control of your 1000DASH to anyone you always retain control of your coins and your are free to sell them whenever you like. Obviously if you sell them your node stops running and you stop getting paid as you are no longer providing a service.

For providing different services, Masternodes operators get paid a portion of the block rewards,exactly like miners, this portion is divided between all existing masternodes, exactly like miners too,  so the more masternodes there are the less money they get for providing these services. This creates a natural market dynamic that depends on market sentiment and investor confidence, if investors perceive less risk they are willing to take a smaller reward and thus the masternode count continues to rise. When the market feels the rewards are too little it may correct, so on and so forth. It is a self correcting system. The Dash full node network is serving its purpose really well and more services will be added on top of the already existing ones.

You can easily calculate your payments in Dash from running a masternode, just like you can calculate your payments from mining. Right now a Dash full node operator gets around 0.5 DASH per day, if you think of that based on the exchage rate today that comes out to be like 1.50 USD per day that is around 550 USD year,  while you hold around 3000 USD worth of Dash as collateral for your full node to run and are free to sell that at any time, is not bad.  But in reality just like with mining people are not running master nodes for the current exchange rate, you run masternodes to accumulate Dash now, so that you can potentially realize gains in the future at much better exchange rates or just directly spend Dash for goods and services. So just like mining people take a risk now as they see a lot of upside potential.

About a future where running a masternode requires a larger amount in FIAT terms as collateral due to price appreciation, I think that is a future everyone is hoping for.  The collateral requirement could always be lowered when that time comes or people can take advantage of shared masternoding which is already very popular and there are several services available for that, just like pool mining.  I hope this clarifies a little.

Mind if I use some of this for dashdot page?

[Minotaur26]

I'm trying to understand this masternode system correctly. Currently, masternodes get paid less than $2 per day. That's not a lot. It takes 1,000 DASH to buy a Masternode. Where does the money that pays these nodes come from? From the miners?

More Masternodes = Price up initially to buy 1, then its Dash price slowly goes down each time the masternode owner decides to sell some of his earned DASH. So basically want is happening is that the value from the miners get's transfered to masternode owners.

Let's say lots of people want DASH for multiple reasons: anonymous, fast, voting, decentralized, etc. and the price rises a lot. This would mean that it would cost more to buy a Masternode. The higher the price, the more money you need to buy one. That means, that eventually, the growth of masternodes will slow down with price rises. But...the higher the price of 1 masternode, the more the owners get paid per day? So would it be possible to get paid $15 per day for 1 masternode in the future? Would that cause more people to buy masternodes?

Will miners eventually stop mining when there are no more blocks left in the future? In how many years? Would that be the end of DASH? Masternode owners not getting paid.


Oh I totally forgot this essential part: Masternodes get paid to mix coins. Now it all makes sense to me. If you want your coins mixed you got to pay for this service, and I'm sure other services might be added to Masternodes in the future.

OK, let me try to help. You don't "buy" masternodes, a masternode is a Dash full node that besides basic services like propagating messages and securing the network also provide special services like mixing and securing instant transactions, all coins need full nodes but most coins only use them for the basic functions inherited from Bitcoin. In the case of Dash there is added value functionality that is provided by the full nodes.   The 1000DASH is a collateral that establishes a bond of trust between the masternode and the network and prevents Sybil attacks, because people can't just create a bunch of full nodes for free to attack the network, this makes the masternode network really secure.  In this sense the 1000DASH are a collateral, you don't "buy" a masternode as you never give up control of your 1000DASH to anyone you always retain control of your coins and your are free to sell them whenever you like. Obviously if you sell them your node stops running and you stop getting paid as you are no longer providing a service.

For providing different services, Masternodes operators get paid a portion of the block rewards,exactly like miners, this portion is divided between all existing masternodes, exactly like miners too,  so the more masternodes there are the less money they get for providing these services. This creates a natural market dynamic that depends on market sentiment and investor confidence, if investors perceive less risk they are willing to take a smaller reward and thus the masternode count continues to rise. When the market feels the rewards are too little it may correct, so on and so forth. It is a self correcting system. The Dash full node network is serving its purpose really well and more services will be added on top of the already existing ones.

You can easily calculate your payments in Dash from running a masternode, just like you can calculate your payments from mining. Right now a Dash full node operator gets around 0.5 DASH per day, if you think of that based on the exchage rate today that comes out to be like 1.50 USD per day that is around 550 USD year,  while you hold around 3000 USD worth of Dash as collateral for your full node to run and are free to sell that at any time, is not bad.  But in reality just like with mining people are not running master nodes for the current exchange rate, you run masternodes to accumulate Dash now, so that you can potentially realize gains in the future at much better exchange rates or just directly spend Dash for goods and services. So just like mining people take a risk now as they see a lot of upside potential.

About a future where running a masternode requires a larger amount in FIAT terms as collateral due to price appreciation, I think that is a future everyone is hoping for.  The collateral requirement could always be lowered when that time comes or people can take advantage of shared masternoding which is already very popular and there are several services available for that, just like pool mining.  I hope this clarifies a little.

Mind if I use some of this for dashdot page?

Not at all, glad you find it helpful

[oaxaca]

See what we can put together.....

Good luck.  See you at the Finca Paraiso waterfall sometime.

[bluebit25]

Pi-complied-DASH software will be straight from the Github binaries and delivered to whoever runs the dashpay.io website

Pi-complied-DASH software, what is this? Will this make it easier for me to run a masternode on a Pi?

[coingun]

Pi-complied-DASH software will be straight from the Github binaries and delivered to whoever runs the dashpay.io website

Pi-complied-DASH software, what is this? Will this make it easier for me to run a masternode on a Pi?

You'll have to compile the DASH software yourself - unless you want me to send you the finished copies, which I can

Dash is not a - run on anything software
There are NO copies of DASH in the wild that will run on Pi
and if there is - DO NOT USE THEM!!!!

I have been around for a REALLY long time in this community and you will NOT find a single person here that can claim that I have fucked them over - NOT A SINGLE PERSON - anybody that say's I fucked them over is a lying troll !!! And they will have ZERO proof I did so.

I have held 1000's of upon 1000's of DASH running MN's for a lot of people on a shared MN setup.

I am one of the honest folks around here.

If any of my previous clients want to step-in and put a reference out there - that would be cool - lol
I stopped asking for reference posts a long time ago - lol
Word of mouth did me well - lol

Every single DASH was finally returned to my clients when I got my own MN - which was my goal :-D


Hit me up on PM if you want any "personal help" with the Pi and/or MN's - or whatever
My "rates" are very low when it comes to long and drawn out situations but simple stuff is no charge - lol

Mangle's a good chap!

Ok I have added the edit's from Minotaur26 and I think this page now explains the overall masternode concept pretty well.

https://dashdot.io/alpha/?page_id=50

[shogdite]

ohhhh man. Cant believe im going to own up to this but last night I had a dream that dash was going to see one last mega pump before it dies and this morning before work I bought 3 btc of dash to be ready for the pump.

Am I the only one here who's having dreams about a dash pump or are there others?

[bluebit25]

ohhhh man. Cant believe im going to own up to this but last night I had a dream that dash was going to see one last mega pump before it dies and this morning before work I bought 3 btc of dash to be ready for the pump.

Am I the only one here who's having dreams about a dash pump or are there others?

I had a dream this week about Dash going to like $15 and getting the Litecoin people all scared. But who knows, it was just a dream.