Should I set up my own Darkcoin masternode? If so, how?

[Lorenzo]

First of all, I'm not very familiar with Darkcoin (or is it called DASH now?).

Now I understand that people can set up something called masternodes within the Darkcoin network which help to support the coin's anonymity. This requires an upfront cost of 1,000 DRK apparently.

Does anyone know if this is profitable? How would you describe the process of becoming a masternode? Is simply running the server enough? Or are they randomly selected? Or perhaps they are they voted in?

This thread looks like it has some useful information but it's very long and not at all easy to follow:

http://www.reddit.com/r/DRKCoin/comments/26tvv8/how_much_profit_can_i_potentially_make_setting_up/

Anyone care to explain the basics and whether it's a good idea or not?

[1714720467]

1714720467

[1714720467]

1714720467

[1714720467]

1714720467

[bathrobehero]

Estimated daily payout for an active node (blocks with MN payments last 24h: 98.18%): 0.8475 DASH/day (Last Refreshed: Wed Apr 01 2015 10:29:16 PM)

Current value of DASH based on coinmarketcap = $ 3.83.

The oversimplified current ROI disregarding any other factors is 1179 days.


But the masternode payments are still climbing and will do so until it reaches 60%:

if(nHeight > 158000) ret += blockValue / 20; //25.0% - 2014-10-23
if(nHeight > 158000+((576*30)*1)) ret += blockValue / 20; //30.0% - 2014-11-23
if(nHeight > 158000+((576*30)*2)) ret += blockValue / 20; //35.0% - 2014-12-23
if(nHeight > 158000+((576*30)*3)) ret += blockValue / 40; //37.5% - 2015-01-23
if(nHeight > 158000+((576*30)*4)) ret += blockValue / 40; //40.0% - 2015-02-23
if(nHeight > 158000+((576*30)*5)) ret += blockValue / 40; //42.5% - 2015-03-23
if(nHeight > 158000+((576*30)*6)) ret += blockValue / 40; //45.0% - 2015-04-23
if(nHeight > 158000+((576*30)*7)) ret += blockValue / 40; //47.5% - 2015-05-23
if(nHeight > 158000+((576*30)*9)) ret += blockValue / 40; //50.0% - 2015-07-23
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; //52.5% - 2015-09-23
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; //55.0% - 2015-11-23
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; //57.5% - 2016-01-23
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; //60.0% - 2016-03-23

And if you believe the value of DASH will increase in the future then you'll hit ROI much, much faster. But of course anything can happen so it's best to do your own research and only invest what you can afford to lose.

Regarding how to set it up, there are several guides if you search for it.

[Lorenzo]

Estimated daily payout for an active node (blocks with MN payments last 24h: 98.18%): 0.8475 DASH/day (Last Refreshed: Wed Apr 01 2015 10:29:16 PM)

Current value of DASH based on coinmarketcap = $ 3.83.

The oversimplified current ROI disregarding any other factors is 1179 days.


But the masternode payments are still climbing and will do so until it reaches 60%:

if(nHeight > 158000) ret += blockValue / 20; //25.0% - 2014-10-23
if(nHeight > 158000+((576*30)*1)) ret += blockValue / 20; //30.0% - 2014-11-23
if(nHeight > 158000+((576*30)*2)) ret += blockValue / 20; //35.0% - 2014-12-23
if(nHeight > 158000+((576*30)*3)) ret += blockValue / 40; //37.5% - 2015-01-23
if(nHeight > 158000+((576*30)*4)) ret += blockValue / 40; //40.0% - 2015-02-23
if(nHeight > 158000+((576*30)*5)) ret += blockValue / 40; //42.5% - 2015-03-23
if(nHeight > 158000+((576*30)*6)) ret += blockValue / 40; //45.0% - 2015-04-23
if(nHeight > 158000+((576*30)*7)) ret += blockValue / 40; //47.5% - 2015-05-23
if(nHeight > 158000+((576*30)*9)) ret += blockValue / 40; //50.0% - 2015-07-23
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; //52.5% - 2015-09-23
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; //55.0% - 2015-11-23
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; //57.5% - 2016-01-23
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; //60.0% - 2016-03-23

And if you believe the value of DASH will increase in the future then you'll hit ROI much, much faster. But of course anything can happen so it's best to do your own research and only invest what you can afford to lose.

Regarding how to set it up, there are several guides if you search for it.

Ah, OK. So it's all automatic then? There is no voting required unlike BitShares delegates?

And what about the 1,000 DASH? Do you lose it after you set up a masternode or is it still yours? And what happens to it if you decide to stop being a masternode?

[oblox]

Estimated daily payout for an active node (blocks with MN payments last 24h: 98.18%): 0.8475 DASH/day (Last Refreshed: Wed Apr 01 2015 10:29:16 PM)

Current value of DASH based on coinmarketcap = $ 3.83.

The oversimplified current ROI disregarding any other factors is 1179 days.


But the masternode payments are still climbing and will do so until it reaches 60%:

if(nHeight > 158000) ret += blockValue / 20; //25.0% - 2014-10-23
if(nHeight > 158000+((576*30)*1)) ret += blockValue / 20; //30.0% - 2014-11-23
if(nHeight > 158000+((576*30)*2)) ret += blockValue / 20; //35.0% - 2014-12-23
if(nHeight > 158000+((576*30)*3)) ret += blockValue / 40; //37.5% - 2015-01-23
if(nHeight > 158000+((576*30)*4)) ret += blockValue / 40; //40.0% - 2015-02-23
if(nHeight > 158000+((576*30)*5)) ret += blockValue / 40; //42.5% - 2015-03-23
if(nHeight > 158000+((576*30)*6)) ret += blockValue / 40; //45.0% - 2015-04-23
if(nHeight > 158000+((576*30)*7)) ret += blockValue / 40; //47.5% - 2015-05-23
if(nHeight > 158000+((576*30)*9)) ret += blockValue / 40; //50.0% - 2015-07-23
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; //52.5% - 2015-09-23
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; //55.0% - 2015-11-23
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; //57.5% - 2016-01-23
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; //60.0% - 2016-03-23

And if you believe the value of DASH will increase in the future then you'll hit ROI much, much faster. But of course anything can happen so it's best to do your own research and only invest what you can afford to lose.

Regarding how to set it up, there are several guides if you search for it.

Ah, OK. So it's all automatic then? There is no voting required unlike BitShares delegates?

And what about the 1,000 DASH? Do you lose it after you set up a masternode or is it still yours? And what happens to it if you decide to stop being a masternode?

The 1k dash is still yours to do with as you please but the second you move it, the masternode goes offline.

[Hollowman338]

DRK/DASH was a pump with no real utility.  Steer clear as the ROI will never materialize.

[qwizzie]

As it so happens we just hit the MN payouts 42.5% per block a few days ago. The masternode network is in the middle of upgrading to the most recent
version so MN payments vary a bit right now between 1.97 DRK and 2.3 DRK per block and are paid out every 4 days i think to each masternode.

Once everyone updated their masternodes you should see something like 2400 or 2500 masternodes operational.

https://dashninja.pl/blocks.html  
https://dashninja.pl/masternodes.html (it loads slowly as it needs to gather some info so give it some time)

https://dashtalk.org/forums/masternode-guides.66/

Below you will find a more up to date increase payment schedule (one of the dev team developers updated the dates
and added the blocks at which the % increase will happen)


Masternodes increase payments

                                                                                              
if(nHeight > 158000)                        ret += blockValue / 20; // 158000 - 25.0% - 2014-10-24
if(nHeight > 158000+((576*30)* 1)) ret += blockValue / 20; // 175280 - 30.0% - 2014-11-25
if(nHeight > 158000+((576*30)* 2)) ret += blockValue / 20; // 192560 - 35.0% - 2014-12-26
if(nHeight > 158000+((576*30)* 3)) ret += blockValue / 40; // 209840 - 37.5% - 2015-01-26
if(nHeight > 158000+((576*30)* 4)) ret += blockValue / 40; // 227120 - 40.0% - 2015-02-27
if(nHeight > 158000+((576*30)* 5)) ret += blockValue / 40; // 244400 - 42.5% - 2015-03-30
if(nHeight > 158000+((576*30)* 6)) ret += blockValue / 40; // 261680 - 45.0% - 2015-05-01
if(nHeight > 158000+((576*30)* 7)) ret += blockValue / 40; // 278960 - 47.5% - 2015-06-01
if(nHeight > 158000+((576*30)* 9)) ret += blockValue / 40; // 313520 - 50.0% - 2015-08-03
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; // 348080 - 52.5% - 2015-10-05
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; // 382640 - 55.0% - 2015-12-07
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; // 417200 - 57.5% - 2016-02-08
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; // 451760 - 60.0% - 2016-04-11

[peonminer]

DRK/DASH was a pump with no real utility.  Steer clear as the ROI will never materialize.

Doing some research on masternode and I thought this was noteworthy to LOL at. ROI on a DASH masternode now is yuuuuuuuge and would have paid of really well if you had one from 2015 til today.