GhostPlayer
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June 12, 2014, 07:01:26 PM |
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Or is it just having 1000drk in a cold wallet and a masternode running on a computer?
this Yup, thats the deal. 100% safe if you do it right. Remote server gets activated by a cold wallet containing 1k deposit on address 0. |
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eduffield (OP)
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Dash Developer
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June 12, 2014, 07:01:33 PM |
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Basically it means you can have a node online with the 1000DRK just for 30 seconds, then you activate a secondary "hot" node with no money in it. After that you can literally power down the first node because in the new implementation the hot and cold node share a signing key. |
Dash - Digital Cash | dash.org | dashfoundation.io | dashgo.io
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choose-username
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June 12, 2014, 07:05:31 PM |
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Basically it means you can have a node online with the 1000DRK just for 30 seconds, then you activate a secondary "hot" node with no money in it. After that you can literally power down the first node because in the new implementation the hot and cold node share a signing key. Ok. Many thanks for all of you for clarification.  |
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Minotaur26
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June 12, 2014, 07:08:26 PM |
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WHAT DOES COLD WALLET MASTERNODE MEANS. It means that the server that is running as a Masternode has 0 coins in its wallet.dat so there is 0 risk of loosing coins. We start a masternode like this, you need to use a second computer, normally your local computer at home. You run the darkcoind application in your local computer, you indicate in the darkcoin.conf file in the local computer masternodeaddr=xxx.xxx.xxx.xxx:9999 (put in your public IP address here from your remote machine) This indicates the network that your local machine with the 1000DRK is vouching for the remote masternode with 0 DRK. After that you take your local wallet offline, make several backups of your wallet.dat and as long as you dont move the coins from that address your remote masternode with 0DRK keeps running and making you money. Boom! Here is a guide on how to do it: https://darkcointalk.org/threads/remote-masternode-guide-updated.410/ |
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naxin
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June 12, 2014, 07:12:57 PM |
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i think that a website must be setup, something like betarigs, where you can rent/lease a masternode at a certain price or %. it could help a lot if this is an official site from the dev team and not someone that can run away with 10-15-20-30 nodes (no offense to DyslecticZombei, i m just saying) I agree it is not the optimal set up, but is the only one I know that has been successful atm. I've seen a couple more people trying to do this and we've discussed many other options here, but I'm not sure the market is big enough for someone to code the solution. I would not want the devs involved with this, that could raise a lot of other issues and bring more centralization. I think the market should take care of it once someone comes with the solution to the trust issue. I'm already working on it Plus I've got some very innovative ideas on how to run a trustless pooled masternode I will be releasing more hopefully this weekend after I finish testing. Bump! Those of us who do not quite have enough DRK for a MN nor enough technological know-how are eager to join ASAP. I would be EXTREMELY cautious in that endeavour. Not bad mouthing anyone, nor their intentions! I would be extremely cautious too! Without a trustless system of sorts in place there is virtually nothing stopping the operator from running away with the coins. I wouldn't trust a single DRK to someone I didn't actually know, no matter how "trusted" they may be. I don't want to release too many details prematurely, especially before I meet with my lawyer to discuss liabilities, but I have no plans to accept a single DRK of investment if I cannot guarantee the investor he/she won't lose it! Or even worse, in the event I die, I would want every investor to be able to get their money back, with absolutely no interaction from myself. |
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Jesse Livermore
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June 12, 2014, 07:15:15 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
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I own a DASH Masternode.... And you should too.
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GhostPlayer
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June 12, 2014, 07:19:10 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
If I understood you right, that would need multisig, invalidating your ability to control your funds. Imagine this scenario. 5 people pool up for a node. 1 month later, you have a problem and need to pull out your DRK's. Everyone else loose node payments, or no one else signs the tx, so you get locked out of your funds. I'm sure someone will come up with a legit solution though. I just dont see it. |
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TsuyokuNaritai
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June 12, 2014, 07:26:51 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
Surely it's simpler just letting the 1k be held in multiple addresses. Their owners could create public messages associating them with the masternode, to be used by the computer running 'masternodeaddr=' . |
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Jesse Livermore
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June 12, 2014, 07:26:57 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
If I understood you right, that would need multisig, invalidating your ability to control your funds. Imagine this scenario. 5 people pool up for a node. 1 month later, 1 of these persons has a problem and needs to pull their DRK's. Everyone else loose node payments, or no one else signs the tx, so you get locked out of your funds. Post on bitcointalk then that dumby MN address xyz just lost a 200-DRK partner and see if someone wants to take their place then? I'm not assuming that the dumby MN addresses are forever linked only to these 4 DRK-inputting addresses. I'm imagining that the MN address allows any address to send or receive DRK into or out of it. |
I own a DASH Masternode.... And you should too.
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hashnine
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June 12, 2014, 07:27:28 PM |
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Just found a new big opportunity: BurnerCoinThis coin is in position #106 in coinmarketcap.com its still flying under the radar of everybody! - X13 (fairly distributed) - NO IPO - NO Pre-Mine - POW/POS (Already in POS!) - 2 Million POW Supply Current price: $0.07 (7 cents)It's going to be at $1 very soon! Advise: Get your cheap coins while you can, you have now the chance to still get it cheap! Don't miss the train or you will most likely regret later! Forum: https://bitcointalk.org/index.php?topic=645753.0Trade: https://bittrex.com/Market/Index?MarketName=BTC-BURNYou are new and you flood this everywhere? |
Careful XC anonymous coin is a scam
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S_Uber
Newbie
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Activity: 21
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June 12, 2014, 07:32:09 PM |
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WHAT DOES COLD WALLET MASTERNODE MEANS. It means that the server that is running as a Masternode has 0 coins in its wallet.dat so there is 0 risk of loosing coins. We start a masternode like this, you need to use a second computer, normally your local computer at home. You run the darkcoind application in your local computer, you indicate in the darkcoin.conf file in the local computer masternodeaddr=xxx.xxx.xxx.xxx:9999 (put in your public IP address here from your remote machine) This indicates the network that your local machine with the 1000DRK is vouching for the remote masternode with 0 DRK. After that you take your local wallet offline, make several backups of your wallet.dat and as long as you dont move the coins from that address your remote masternode with 0DRK keeps running and making you money. Boom! Here is a guide on how to do it: https://darkcointalk.org/threads/remote-masternode-guide-updated.410/One question about this. If you use the wallet on your home pc for the 1000 drk and masternode fund, then can you still use the wallet? Or can you have a seperate wallet on the same pc? Sorry, I'm a bit noob on this issue still. |
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Jesse Livermore
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June 12, 2014, 07:33:18 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
Surely it's simpler just letting the 1k be held in multiple addresses. Their owners could create public messages associating them with the masternode, to be used by the computer running 'masternodeaddr=' . What do you mean create public messages and what's to stop me from claiming the 333k DRK-holding XosX address? |
I own a DASH Masternode.... And you should too.
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GhostPlayer
Legendary
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Activity: 1092
Merit: 1000
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June 12, 2014, 07:34:43 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
If I understood you right, that would need multisig, invalidating your ability to control your funds. Imagine this scenario. 5 people pool up for a node. 1 month later, 1 of these persons has a problem and needs to pull their DRK's. Everyone else loose node payments, or no one else signs the tx, so you get locked out of your funds. Post on bitcointalk then that dumby MN address xyz just lost a 200-DRK partner and see if someone wants to take their place then? I'm not assuming that the dumby MN addresses are forever linked only to these 4 DRK-inputting addresses. I'm imagining that the MN address allows any address to send or receive DRK into or out of it. That wouldnt work, because a) everyone else will instantly be pissed for lack of payment and probably pull out as well, if fear, etc. b) payouts go to the the one address 0, so the owner of that address has full control of the funds, so payout to stake holders is seriously compromised no mater what. c) If address 0 is multisig... a stolen PC, death, bad actor, holidays, whatever... invalidates everyone else's access to funds. |
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Minotaur26
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Activity: 1092
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June 12, 2014, 07:34:53 PM |
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On a different note! For all you football fans out the World Cup is starting right now! Next World Cup in 2018 we should have a Darkcoin banner in the finals!
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Minotaur26
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Activity: 1092
Merit: 1000
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June 12, 2014, 07:38:41 PM |
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What if a new form of address was created, a masternode-splitting 'dumby' address, which allowed address A, B, C and D to each send 250 DRK to the special MasterNode-splitting address "E" and only allowed address A to send or request to receive address A's 250 DRK, and only allowed address B to send or receive address B's 250 DRK and so on.
You could then have a knowledgeable masternode network manager, like Dyslexic Zombie, come in and create a MN from that dumby MN address and take a fee but never actually have the ability to take possession of any DRK from the address itself?
If I understood you right, that would need multisig, invalidating your ability to control your funds. Imagine this scenario. 5 people pool up for a node. 1 month later, 1 of these persons has a problem and needs to pull their DRK's. Everyone else loose node payments, or no one else signs the tx, so you get locked out of your funds. Post on bitcointalk then that dumby MN address xyz just lost a 200-DRK partner and see if someone wants to take their place then? I'm not assuming that the dumby MN addresses are forever linked only to these 4 DRK-inputting addresses. I'm imagining that the MN address allows any address to send or receive DRK into or out of it. That wouldnt work, because a) everyone else will instantly be pissed for lack of payment and probably pull out as well, if fear, etc. b) payouts go to the the one address 0, so the owner of that address has full control of the funds, so payout to stake holders is seriously compromised no mater what. c) If address 0 is multisig... a stolen PC, death, bad actor, holidays, whatever... invalidates everyone else's access to funds. In this case the commitment for pooled masternodes should be for a certain period of time, can be quarterly, annually, etc. Is like having a fixed term deposit in a bank. If you go into a 6month masternode pool you cant take out the money until the term expires, that way everyone knows what to expect. If 6 months is too much for you go into one of the 3 months pools, etc. |
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salmion
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June 12, 2014, 07:38:49 PM |
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On a different note! For all you football fans out there World Cup starting right now! Next World Cup in 2018 we should have a Darkcoin banner in the finals!
Is that like soccer ball? |
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elviselvis101
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June 12, 2014, 07:39:07 PM |
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Basically it means you can have a node online with the 1000DRK just for 30 seconds, then you activate a secondary "hot" node with no money in it. After that you can literally power down the first node because in the new implementation the hot and cold node share a signing key. That is very smart |
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acseric
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June 12, 2014, 07:43:16 PM |
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Just found a new big opportunity: BurnerCoinThis coin is in position #106 in coinmarketcap.com its still flying under the radar of everybody! - X13 (fairly distributed) - NO IPO - NO Pre-Mine - POW/POS (Already in POS!) - 2 Million POW Supply Current price: $0.07 (7 cents)It's going to be at $1 very soon! Advise: Get your cheap coins while you can, you have now the chance to still get it cheap! Don't miss the train or you will most likely regret later! Forum: https://bitcointalk.org/index.php?topic=645753.0Trade: https://bittrex.com/Market/Index?MarketName=BTC-BURNFYI - This is IconicExpert's new puppet account. |
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splawik21
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DASH is the future of crypto payments!
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June 12, 2014, 07:43:53 PM |
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I would not touch it you can burn yourself  Just found a new big opportunity: BurnerCoinThis coin is in position #106 in coinmarketcap.com its still flying under the radar of everybody! - X13 (fairly distributed) - NO IPO - NO Pre-Mine - POW/POS (Already in POS!) - 2 Million POW Supply Current price: $0.07 (7 cents)It's going to be at $1 very soon! Advise: Get your cheap coins while you can, you have now the chance to still get it cheap! Don't miss the train or you will most likely regret later! Forum: https://bitcointalk.org/index.php?topic=645753.0Trade: https://bittrex.com/Market/Index?MarketName=BTC-BURNYou are new and you flood this everywhere? |
BE SMART, USE DASH ( ͡° ͜ʖ ͡°) |
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