[ANN][OC] Orangecoin ★★ POS ★★ Anon Transactions ★★ Masternodes

[Orangecoin]

Im really not tech savvy to be fair however I really like Orangecoin and I would like to set up a masternode if its possible with my meagre setup.

If I had my home machine turned on wallet open could I theoretically become a masternode. I have the oranges so that's no issue.

Thanks

The full installation instructions will be released just prior to the code being released. Remember once the code is in the client we would have to wait a certain period to enable these nodes.

It is recommended to install them on servers which are up 24/7.

[1715134958]

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[1715134958]

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[crucial]

Im really not tech savvy to be fair however I really like Orangecoin and I would like to set up a masternode if its possible with my meagre setup.

If I had my home machine turned on wallet open could I theoretically become a masternode. I have the oranges so that's no issue.

Thanks

The full installation instructions will be released just prior to the code being released. Remember once the code is in the client we would have to wait a certain period to enable these nodes.

It is recommended to install them on servers which are up 24/7.

I like Chris would be interested in being a masternode.

Re servers and hiring for masternodes anymore info regarding this at appropriate time would be usefull.

so sounds like you have interest from folk being involved. so staking my interest too.

 

[Rainer4256]

Just voted for OC on Cryptsy. 

[cryptoba]

Hello Orangecoin,

When is the announcement being made ? Is there any wallet update release today ?

[bep42]

Would you like some vitamine?
Orangecoin has been added on Kingcoiny > https://www.kingcoiny.com/index.php?page=trade&market=18

Happy trading!

[Orangecoin]

Would you like some vitamine?
Orangecoin has been added on Kingcoiny > https://www.kingcoiny.com/index.php?page=trade&market=18

Happy trading!

Very Nice. Posting around.

[Halofire]

Would you like some vitamine?
Orangecoin has been added on Kingcoiny > https://www.kingcoiny.com/index.php?page=trade&market=18

Happy trading!

Thanks for adding us!

[Halofire]

I may be a little early posting this but the other Dev will be on shortly to confirm this.


When coming up with the requirements, we wanted to make sure that it was as balanced as possible. We used this model below to express different combinations and what they would look like.

N=numbers of masternodes
M= required amount of coins for a masternode
H= Total coins in masternodes M*N

E= coin % rewarded to masternodes first year of the 10 million
D= % reward per PoS (E-10 million)/50 million/24.33333

B= coins per block (E/365/720) (E/days/blocks)
F= coins per block per masternode (B/N)

S= reward that M would make every 15 days from PoS stake to compare to masternode (M*D)
Z= masternode reward every 15 days (F*720*15)

Py= 1 year compounding PoS interest of M, (24 stakes/yr) Py=M(1+ APR/24)^24
My= 1 year of masternode rewards (24 staking days of a yr, or 360days)  Z*24

           x              x               x            x                x           x             x             x      
N=  1,000        200          1,000        1,000         500      1,000      2,000      1,000
M= 10,000      10,000       5,000        1,000        2,000    1,000      1,000      2,000
E=  2.5 mil      2.5 mil       2.5 mil      2.5 mil      1 mil      500k      500k       1 mill

H=  10 mil       2 mil          5 mil        1 mil         1 mil      1 mil       2 mil       2 mil

S=  61.64       61.64         30.82       6.16          14          7.8         7.8          14
Z=  102          513           102          102           82.19       20         10           41

Py=  1,589     1,589         794          158           386         205        205         386
My= 2,465     12,328        2,465       2,465        1,972       480        240         984

This chart is confusing to me. What do the x's I put represent? Shouldn't M always equal 2000 since M is the requirement to own a node? Or are these all just examples you guys came up with with the last column being the real deal?

E is defined as a percent, but the actual value is represented.

[bep42]

Would you like some vitamine?
Orangecoin has been added on Kingcoiny > https://www.kingcoiny.com/index.php?page=trade&market=18

Happy trading!

Thanks for adding us!

thanks to your beautiful community !! Hope see you there

[Halofire]

Other thing I'd like to bring up is there is ~11 months left to 20% PoS and only ~8.9 million OC left to mint for year 1.

[Jim_Rambler]

Yes this chart was just showing how we came up with the numbers. The reason "E" was said to be a % was because "E" is going to take a % away from the PoS reward.

Yes only 11 months left, we are still working through how to merge the masternode start times. We either start the masternodes 1 month (depending when) behind. Or we add the 100k Orangcoins, the masternodes would have made in the first month to the final amount of coins.

[Rainer4256]

Just bought 17K OrangeCoins. Do the same as long as they are cheap.

[Halofire]

Yes this chart was just showing how we came up with the numbers. The reason "E" was said to be a % was because "E" is going to take a % away from the PoS reward.

Yes only 11 months left, we are still working through how to merge the masternode start times. We either start the masternodes 1 month (depending when) behind. Or we add the 100k Orangcoins, the masternodes would have made in the first month to the final amount of coins.

Another thing, this clearly re-arranges the economics of the coin, no matter what scenario. Here are the scenarios.
A: take the MN payouts from the original specs which hurts every investors PoS returns.
B: shorten the time period of PoS minting to, say, 40 years, which the 6 years of minting would be released faster into circulation but everyone still gets what the original specs stated for investors. The actual coins/time period would reflect the MN payout schedule of 2% so it might not even be 6 years, it would be less. 2% of 200 million is 4 million coins, and it isn't enough.
C: add the MN payouts to the total coin cap, for total cap 204 million coins. Still isn't enough... increase cap to 220 million over 46 years and devote the 20 million to the MN

B and C are less detrimental to the investors, and the model might be why price is suffering. 2000 OC is not very much per node and the price would have to rise substantially for the interest earned plus profits to make $5 per month to cover fees. People were buying large amounts to cover the requirements, and now that requirements are so low, ppl are selling large amounts.

Since this affects all OC holders, it should be decided in a vote, not centralized around the 2 devs working on this. The whole point of MN is decentralizing the nodes and anon comes from that. Not trying to start trouble, but I'm here for the community as well.

Also, my numbers are just thrown out there as examples, not based on any calculations.

Afterthought: cutting the 2.5% pos after year 5 down to 1-1.5% has reduced income earned for stakers by 50%. It's 4% for 2% on 20%.

[cryptoba]

 Orangecoin are you still making another announcement today ?

[Halofire]

Ok, I've been asked "what is a masternode?". I'll try to explain, but I don't have 100% of the concept yet, feel free to correct me where I may be wrong.


To know what a master node is, you have to know what a regular node is. A regular node is a computer that serves as a blockchain dispensary, where you can download the blockchain from and where miners get the info to mine (check transactions). The nodes issue the blocks to us when mining or staking or for other features that issue blocks. Wallets are ledger keepers, Miners are ledger checkers, and Nodes are the issuer of the blocks.

A master node is a permanently selected computer (server?) that stays online and get paid for (a form of) staking. I'm not exactly sure how this works because I have no "hand's on" experience in this department. Master nodes require a certain amount of coin determined by the code and/or dev, to be invested for long periods on time, which I think is the same as a longer staking time like when you can't access your coins when your coins are staking. Master nodes require that you have DDOS protection, you will be targeted for an attack at some point. If the dev's are 'hosting' the Masternodes for a fee, we wouldn't need to worry about if we need equipment or ddos, but then is more centralized. Masternodes are supposed to be a more more decentralized version of the few 'selected' regular nodes, this is how I think the anonymous feature works in respect like what Bitorrent did for Napster.
 
Masternodes require a little bit of luck to be paid. Master nodes need to be selected to by the miners sending back the info of checking transactions for the masternodes to issue a block. More masternodes, the harder it is to get picked. When your masternode gets picked, that's when you get paid.

Again, I'm sorry if I don't have the concept down to a science yet like how I know the other features of this coin like the back of my hand, and please please please correct me if I'm wrong. I don't like to mis-inform people.

[Sunuser]

Yes this chart was just showing how we came up with the numbers. The reason "E" was said to be a % was because "E" is going to take a % away from the PoS reward.

Yes only 11 months left, we are still working through how to merge the masternode start times. We either start the masternodes 1 month (depending when) behind. Or we add the 100k Orangcoins, the masternodes would have made in the first month to the final amount of coins.

Another thing, this clearly re-arranges the economics of the coin, no matter what scenario. Here are the scenarios.
A: take the MN payouts from the original specs which hurts every investors PoS returns.
B: shorten the time period of PoS minting to, say, 40 years, which the 6 years of minting would be released faster into circulation but everyone still gets what the original specs stated for investors. The actual coins/time period would reflect the MN payout schedule of 2% so it might not even be 6 years, it would be less. 2% of 200 million is 4 million coins, and it isn't enough.
C: add the MN payouts to the total coin cap, for total cap 204 million coins. Still isn't enough... increase cap to 220 million over 46 years and devote the 20 million to the MN

B and C are less detrimental to the investors, and the model might be why price is suffering. 2000 OC is not very much per node and the price would have to rise substantially for the interest earned plus profits to make $5 per month to cover fees. People were buying large amounts to cover the requirements, and now that requirements are so low, ppl are selling large amounts.

Since this affects all OC holders, it should be decided in a vote, not centralized around the 2 devs working on this. The whole point of MN is decentralizing the nodes and anon comes from that. Not trying to start trouble, but I'm here for the community as well.

Also, my numbers are just thrown out there as examples, not based on any calculations.

Afterthought: cutting the 2.5% pos after year 5 down to 1-1.5% has reduced income earned for stakers by 50%. It's 4% for 2% on 20%.

Your 100% correct, you are all stake holders and doing this anyway will change things no matter what. This is part of the reason we spent so much time working through the numbers before posting Proposed numbers. It is also why we decided to post the math behind the numbers rather then just posting a set of numbers. Everything you brought up, we also brought up and more in our many conversations leading up to today. We will revisit evrything you brought up about "re-arranging the economics."

I do need to point out the reason we went with the 2000 OC as it relates to price. We have already said that the higher the amount the more pulled out of circulation, however it has something to do with price as well.

It is really the opposite of what your thought is, I know it was a surprise to me as well. Here lets say the avg. person wanting to start a masternode and they need to go buy the amount of coins to open one. Lets just for an example say they want to spend $400 on that amount.

Using that number lets play out 2 diffrent examples, one with MN req at 10,000 OC and one with 2,000 OC.

10,000 coins for $400 = $0.04/coin
2,000   coins for $400 = $0.20/coin

So to earn the $5/ month fee for the server, at $0.04 = 125 coin and at $0.20 = 25 coin

So with high coin amount req. it lowers the price per coin, increases the amount of coins needed to be paid out and takes more coins out of circulation.

It may take a little time but you must understand that masternodes will raise the price of the coin.

Unfortunately you are probably right, there was a few reasons for a few bigger dumps today. I'm sure a few people saw that masternodes may be a little to tech for them. Which will not be the case once they see the instruction guides I believe. I was also worried about people not aware of the Static IP for multiple Masternodes on 1 server. Then there was some people thinking the req amount would be higher. This was part of why we wanted to do the masternode release in stages. To get people info ASAP and let the not so tech people feel more comfortable with setting one up.

[bep42]

Don't forget that you can buy/sell some Orangecoin on the new exchange Kingcoiny right there > https://www.kingcoiny.com/index.php?page=trade&market=18

[Sunuser]

Ok, I've been asked "what is a masternode?". I'll try to explain, but I don't have 100% of the concept yet, feel free to correct me where I may be wrong.


To know what a master node is, you have to know what a regular node is. A regular node is a computer that serves as a blockchain dispensary, where you can download the blockchain from and where miners get the info to mine (check transactions). The nodes issue the blocks to us when mining or staking or for other features that issue blocks. Wallets are ledger keepers, Miners are ledger checkers, and Nodes are the issuer of the blocks.

A master node is a permanently selected computer (server?) that stays online and get paid for (a form of) staking. I'm not exactly sure how this works because I have no "hand's on" experience in this department. Master nodes require a certain amount of coin determined by the code and/or dev, to be invested for long periods on time, which I think is the same as a longer staking time like when you can't access your coins when your coins are staking. Master nodes require that you have DDOS protection, you will be targeted for an attack at some point. If the dev's are 'hosting' the Masternodes for a fee, we wouldn't need to worry about if we need equipment or ddos, but then is more centralized. Masternodes are supposed to be a more more decentralized version of the few 'selected' regular nodes, this is how I think the anonymous feature works in respect like what Bitorrent did for Napster.
 
Masternodes require a little bit of luck to be paid. Master nodes need to be selected to by the miners sending back the info of checking transactions for the masternodes to issue a block. More masternodes, the harder it is to get picked. When your masternode gets picked, that's when you get paid.

Again, I'm sorry if I don't have the concept down to a science yet like how I know the other features of this coin like the back of my hand, and please please please correct me if I'm wrong. I don't like to mis-inform people.

You did a pretty good job explaining, However the masternodes are not paid like stake or PoW. They will receive their cut of the coins just for being there to be used. Meaning the reward payout is evenly divided among the total number of masternodes. With maternodes they just need to be there to be used. The number of masternodes that will exist will be driven by ROI. Meaning if at 1000 MN everyone makes money after cost but at 1001 it is even. Then the group will not go above the amount of MN that makes them nonprofitable any longer.

[Specialkey]

Ok, I've been asked "what is a masternode?". I'll try to explain, but I don't have 100% of the concept yet, feel free to correct me where I may be wrong.


To know what a master node is, you have to know what a regular node is. A regular node is a computer that serves as a blockchain dispensary, where you can download the blockchain from and where miners get the info to mine (check transactions). The nodes issue the blocks to us when mining or staking or for other features that issue blocks. Wallets are ledger keepers, Miners are ledger checkers, and Nodes are the issuer of the blocks.

A master node is a permanently selected computer (server?) that stays online and get paid for (a form of) staking. I'm not exactly sure how this works because I have no "hand's on" experience in this department. Master nodes require a certain amount of coin determined by the code and/or dev, to be invested for long periods on time, which I think is the same as a longer staking time like when you can't access your coins when your coins are staking. Master nodes require that you have DDOS protection, you will be targeted for an attack at some point. If the dev's are 'hosting' the Masternodes for a fee, we wouldn't need to worry about if we need equipment or ddos, but then is more centralized. Masternodes are supposed to be a more more decentralized version of the few 'selected' regular nodes, this is how I think the anonymous feature works in respect like what Bitorrent did for Napster.
 
Masternodes require a little bit of luck to be paid. Master nodes need to be selected to by the miners sending back the info of checking transactions for the masternodes to issue a block. More masternodes, the harder it is to get picked. When your masternode gets picked, that's when you get paid.

Again, I'm sorry if I don't have the concept down to a science yet like how I know the other features of this coin like the back of my hand, and please please please correct me if I'm wrong. I don't like to mis-inform people.

Thanks for information 

[Halofire]

Ok, I've been asked "what is a masternode?". I'll try to explain, but I don't have 100% of the concept yet, feel free to correct me where I may be wrong.


To know what a master node is, you have to know what a regular node is. A regular node is a computer that serves as a blockchain dispensary, where you can download the blockchain from and where miners get the info to mine (check transactions). The nodes issue the blocks to us when mining or staking or for other features that issue blocks. Wallets are ledger keepers, Miners are ledger checkers, and Nodes are the issuer of the blocks.

A master node is a permanently selected computer (server?) that stays online and get paid for (a form of) staking. I'm not exactly sure how this works because I have no "hand's on" experience in this department. Master nodes require a certain amount of coin determined by the code and/or dev, to be invested for long periods on time, which I think is the same as a longer staking time like when you can't access your coins when your coins are staking. Master nodes require that you have DDOS protection, you will be targeted for an attack at some point. If the dev's are 'hosting' the Masternodes for a fee, we wouldn't need to worry about if we need equipment or ddos, but then is more centralized. Masternodes are supposed to be a more more decentralized version of the few 'selected' regular nodes, this is how I think the anonymous feature works in respect like what Bitorrent did for Napster.
 
Masternodes require a little bit of luck to be paid. Master nodes need to be selected to by the miners sending back the info of checking transactions for the masternodes to issue a block. More masternodes, the harder it is to get picked. When your masternode gets picked, that's when you get paid.

Again, I'm sorry if I don't have the concept down to a science yet like how I know the other features of this coin like the back of my hand, and please please please correct me if I'm wrong. I don't like to mis-inform people.

You did a pretty good job explaining, However the masternodes are not paid like stake or PoW. They will receive their cut of the coins just for being there to be used. Meaning the reward payout is evenly divided among the total number of masternodes. With maternodes they just need to be there to be used. The number of masternodes that will exist will be driven by ROI. Meaning if at 1000 MN everyone makes money after cost but at 1001 it is even. Then the group will not go above the amount of MN that makes them nonprofitable any longer.

Exactly was my next concern, too many nodes causes not enough coins per price and possibly not able to get ROI on those nodes. One thing, while it does require $5/month (and equipment?) there is nothing to say the price WILL rise guaranteed to accommodate the costs. 2000 OC will be good if you cap amount of the nodes, as price probably will rise, but I can't base investing or purchasing equipment on speculation. That's gambling. I bought every piece of my rig and asic knowing the ROI would be possible.

You will have to change the specs of the coin regardless due to the feature, I understand that. A community vote would be best for the rest of the crypto world and future investors to swallow since Original Spec coins are very important to investors, creates a trust that the dev wont just change the specs on a whim or based on a feature without consulting the people who make the coin worth what it is by buying and selling. The community doesn't even know how many people are working since now there is at least 3 people on this after we were told it was only 2 and that's not transparent. A coin is a business and transparency is a must. The dev wasn't publicly transparent with the premine either, but I could always vouch for the dev because I knew where at least 65-7590% of it was actually spent or destined to be spent, and I'm almost 100% sure he's spent well more than the 1 million premine and that's why I never bothered to ask about where the premine went.

You can't just hurt one group of the communities coins who signed up for 20% and expect them to take a 4% loss now in earnings and a 50% loss in earnings 5 years from now. Adding the additional coins to the cap or ending the POS earlier will inflate the currency slightly (10% tops for a reduction of 10% tops in price if you chose to add 20 million coins) which is not detrimental to everyone and spreads the 'losses' more evenly across the entire coin. B and C are the options I'd choose from.

I know you guys thought long and hard, I give ya that credit. But so have I, on the sidelines. These aren't just thoughts I came up with in the last 5 minutes, ya know?

Why do you think the price is 410 when it was trading 500-650 yesterday? the public has spoken, imo. If the feature was that awesome, we'd rally today instead of sell off.