[ANN] MonetaryUnit [MUE] - POS. MasterNodes. Funding. Governance. Services. Devs

[bizzyb]

When will windows masternode daemons be available?

Everything is under testnet testing stage at the moment, so probably in a couple weeks or something.
We don't want to rush testing, but we also don't want to dwell on it for months.

Has the collateral amount been decided yet? 500k?

Yeah the vote was pretty one sided
https://bitcointalk.org/index.php?topic=1582356.0
500k collateral per MasterNode

[1715031685]

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[1715031685]

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[1715031685]

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[bizzyb]

I've made our first post on Steemit.

If you use that platform I'd appreciate some engagement there, if nothing else then to see the results.
Any funds that can be withdrawn will be used directly to buy MUE on Bittrex
Thanks

https://steemit.com/x11/@monetaryunit/ann-monetaryunit-migration-from-quark-pow-to-x11-pow-with-masternodes

[roslinpl]

I've made our first post on Steemit.

If you use that platform I'd appreciate some engagement there, if nothing else then to see the results.
Any funds that can be withdrawn will be used directly to buy MUE on Bittrex
Thanks

https://steemit.com/x11/@monetaryunit/ann-monetaryunit-migration-from-quark-pow-to-x11-pow-with-masternodes

MUE + Steemit = That's great idea I already upvoted!
Other Steemitians should do the same.

[110110101]

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

[bizzyb]

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

Hi thanks for dropping by.
Yes the plan is to have a similar reward model.

Block reward will be 40 MUE per block.
Each block is 40 seconds (or there about)
As with Dash
the POW reward will be 45% per block
The MasterNode reward will be 45% per block
and 10% will fund development, marketing, etc The "project" fund.

We have agreed on 500k MUE per MasterNode
https://bitcointalk.org/index.php?topic=1582356

and X11 was also agreed on
https://bitcointalk.org/index.php?topic=1564635

The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration.

[110110101]

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

Hi thanks for dropping by.
Yes the plan is to have a similar reward model.

Block reward will be 40 MUE per block.
Each block is 40 seconds (or there about)
As with Dash
the POW reward will be 45% per block
The MasterNode reward will be 45% per block
and 10% will fund development, marketing, etc The "project" fund.

We have agreed on 500k MUE per MasterNode
https://bitcointalk.org/index.php?topic=1582356

and X11 was also agreed on
https://bitcointalk.org/index.php?topic=1564635

The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration.

OK Thanks for the info!
So it would be at present roughly 0.4 BTC to have enough X11 MUE for setting up a masternode. Does the project have a target as to how many masternodes are required to secure the network, or is it as many as possible? As per the Dash governing model I assume that you are looking into a similar voting system for making decisions as to how the project will develop? If so, I would encourage the MUE team to look into creating a user friendly site like dashcentral.org to aid in proposal voting. Having a graphical interface helps rather than copy&pasting commands to the wallet console.

What does the distribution of MUE look like? Looking at the rich lists it seems Bittrex holds the largest wallets. Any risk of having an exchange take control of the development funds of MUE?

[bizzyb]

Hi bizzyb,
Saw your post in the Dash thread about moving MUE over to X11.
By adopting Dash models, is the idea to have a similar block reward division for masternode rewards, MUE development and chain security? I am completely new to MUE, but didn't see any info of this in the OP announcement post.

Hi thanks for dropping by.
Yes the plan is to have a similar reward model.

Block reward will be 40 MUE per block.
Each block is 40 seconds (or there about)
As with Dash
the POW reward will be 45% per block
The MasterNode reward will be 45% per block
and 10% will fund development, marketing, etc The "project" fund.

We have agreed on 500k MUE per MasterNode
https://bitcointalk.org/index.php?topic=1582356

and X11 was also agreed on
https://bitcointalk.org/index.php?topic=1564635

The current OP still reflects our initial Quark launch plan, though perhaps I should update it to make it cleared regarding the migration.

OK Thanks for the info!
So it would be at present roughly 0.4 BTC to have enough X11 MUE for setting up a masternode. Does the project have a target as to how many masternodes are required to secure the network, or is it as many as possible? As per the Dash governing model I assume that you are looking into a similar voting system for making decisions as to how the project will develop? If so, I would encourage the MUE team to look into creating a user friendly site like dashcentral.org to aid in proposal voting. Having a graphical interface helps rather than copy&pasting commands to the wallet console.

What does the distribution of MUE look like? Looking at the rich lists it seems Bittrex holds the largest wallets. Any risk of having an exchange take control of the development funds of MUE?

My pleasure, thanks for getting involved.

• MN collateral - Yes 0.4 BTC is about right at the moment.  Any thoughts on that?
• No. of MNs - No target number, just as many as possible.  Any thoughts?
• Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
• Distribution - My opinion is that the distribution over the past 2 years is very good.  Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange".  My personal funds are around 6 million.  The "project" holds about 4 million, and there are many many users with 1 mill +.  Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

[110110101]

• MN collateral - Yes 0.4 BTC is about right at the moment.  Any thoughts on that?
• No. of MNs - No target number, just as many as possible.  Any thoughts?
• Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
• Distribution - My opinion is that the distribution over the past 2 years is very good.  Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange".  My personal funds are around 6 million.  The "project" holds about 4 million, and there are many many users with 1 mill +.  Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

0.4 BTC seems to be a good entry level. Compared to Dash where a masternode is currently 23 (!) BTC.
Locking away as many MUE creates less liquidity on the market and can help the price increase. Additionally the more nodes the stronger the network, and at some point an equilibrium will be reached.

will comment more later, gotta catch a train

[110110101]

• MN collateral - Yes 0.4 BTC is about right at the moment.  Any thoughts on that?
• No. of MNs - No target number, just as many as possible.  Any thoughts?
• Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
• Distribution - My opinion is that the distribution over the past 2 years is very good.  Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange".  My personal funds are around 6 million.  The "project" holds about 4 million, and there are many many users with 1 mill +.  Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

[110110101]

Also, a general remark, I noticed that I only had one active connection to the MUE network with my QT-wallet. With a secondary masternode network the amount of nodes should increase and strengthen the network overall.

[antislip]

faucet http://www.freemue.com/ can't open sir 

[wahyu5]

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved  

[bizzyb]

• MN collateral - Yes 0.4 BTC is about right at the moment.  Any thoughts on that?
• No. of MNs - No target number, just as many as possible.  Any thoughts?
• Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
• Distribution - My opinion is that the distribution over the past 2 years is very good.  Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange".  My personal funds are around 6 million.  The "project" holds about 4 million, and there are many many users with 1 mill +.  Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

Ah cool, great to have you on board.

I think initially, at least for the first year or so, the % returns should be really good for MasterNodes, obviously over time the % return will deteriorate as more MNs come on line, however, the price should have significantly grown to more than compensate for that.
It's going to get very interesting.

Yeah we are actively running test net.
Feel free to get involved if you want, we tend to hang out in Slack
Auto-invite app is here https://mueslack.herokuapp.com/

[bizzyb]

faucet http://www.freemue.com/ can't open sir 

Ah yes, that is one of the services that is down due to our previous dev leaving us with no notice.
Sorry about that, please check out this other faucet
http://cryptoguru.tk/index.php?Currency=MUE

[bizzyb]

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved  

Yep, and now we look forward to the opportunities ahead.
No point living in the past

[110110101]

• MN collateral - Yes 0.4 BTC is about right at the moment.  Any thoughts on that?
• No. of MNs - No target number, just as many as possible.  Any thoughts?
• Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
• Distribution - My opinion is that the distribution over the past 2 years is very good.  Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange".  My personal funds are around 6 million.  The "project" holds about 4 million, and there are many many users with 1 mill +.  Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

Ah cool, great to have you on board.

I think initially, at least for the first year or so, the % returns should be really good for MasterNodes, obviously over time the % return will deteriorate as more MNs come on line, however, the price should have significantly grown to more than compensate for that.
It's going to get very interesting.

Yeah we are actively running test net.
Feel free to get involved if you want, we tend to hang out in Slack
Auto-invite app is here https://mueslack.herokuapp.com/

Thanks for the slack link, I'll see about signing up.

I'd thought I'd post a long term inspirational graph from the lead developer of Dash, Evan Duffield:
https://bitcointalk.org/index.php?topic=421615.msg15956429#msg15956429

...cut....



https://docs.google.com/spreadsheets/d/1BmfW0YGYrnWxRDsW3W3SQy2xdIqi2sArjP1hkiiuUsI/edit?usp=sharing

Each month we're gaining momentum, we started at about $13k/mo in October 2015 and currently next month we're going to have over $100k to spend. This is fantastic, it shows we can grow the ecosystem and as we do, we'll have more and more funding available for the next projects. The model is working, it's exciting. There's a definite relationship between making good investments for the network and the price appreciation, I believe they are causal.

The model really works, it provides funds for development and promotion. Spreading the word grows the user base, and as the node count goes up, the liquidity starts to go down and as the available tokens for sale decreases the price appreciates. Just imagine what kind of support can be given to the network when the blockchain can provide a $100K monthly funding. Something for MUE to look forward to in a few years time?

[bizzyb]

• MN collateral - Yes 0.4 BTC is about right at the moment.  Any thoughts on that?
• No. of MNs - No target number, just as many as possible.  Any thoughts?
• Voting system - Yes, we definitely want to implement that & having a user friendly site would be a gold standard (Certainly I'm no good at command line stuff).
• Distribution - My opinion is that the distribution over the past 2 years is very good.  Whilst several users keep theirs on trex (I no longer do btw) I would hope that the majority of MUE would be kept "off exchange".  My personal funds are around 6 million.  The "project" holds about 4 million, and there are many many users with 1 mill +.  Looking at https://chainz.cryptoid.info/mue/#!wallets about 26% are held in trex

Any other thoughts and feedback welcome.

So, I bought 500K MUE so I can help set up a masternode once the transition to a X11 mainnet is complete.
My guestimation is that many users will look into taking their coins off the market and moving them into cold storage and running a masternode. The economic incentive is there, at least they get paid a little interest for their service.

How far has the X11 testing come along? Is there an active MUE-testnet?

Ah cool, great to have you on board.

I think initially, at least for the first year or so, the % returns should be really good for MasterNodes, obviously over time the % return will deteriorate as more MNs come on line, however, the price should have significantly grown to more than compensate for that.
It's going to get very interesting.

Yeah we are actively running test net.
Feel free to get involved if you want, we tend to hang out in Slack
Auto-invite app is here https://mueslack.herokuapp.com/

Thanks for the slack link, I'll see about signing up.

I'd thought I'd post a long term inspirational graph from the lead developer of Dash, Evan Duffield:
https://bitcointalk.org/index.php?topic=421615.msg15956429#msg15956429

...cut....



https://docs.google.com/spreadsheets/d/1BmfW0YGYrnWxRDsW3W3SQy2xdIqi2sArjP1hkiiuUsI/edit?usp=sharing

Each month we're gaining momentum, we started at about $13k/mo in October 2015 and currently next month we're going to have over $100k to spend. This is fantastic, it shows we can grow the ecosystem and as we do, we'll have more and more funding available for the next projects. The model is working, it's exciting. There's a definite relationship between making good investments for the network and the price appreciation, I believe they are causal.

The model really works, it provides funds for development and promotion. Spreading the word grows the user base, and as the node count goes up, the liquidity starts to go down and as the available tokens for sale decreases the price appreciates. Just imagine what kind of support can be given to the network when the blockchain can provide a $100K monthly funding. Something for MUE to look forward to in a few years time?

Yeah, it is a fantastic model which is established and stable and most importantly WORKS!

I had always had a vision for a "sustainable" model, and it just took time for things to develop so we could achieve that.

Hopefully in the coming weeks we too can start our journey down this road, and even if we only achieve 1% of that in the medium term, that still goes a very long way in growing this project.

Thanks for sharing the post.

[Take the red pill]

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved  

31/12/2016 - MUE price 20000 sats achived 

[bizzyb]

31/03/2016 - MUE target price 2000 sats ($0.004-$0.008)

Target not achieved  

31/12/2016 - MUE price 20000 sats achived 

Ah, cheers man for the positive vibes
People like you are definitely welcome.

[bizzyb]

We've been testing our automated coin swap system developed by pjcltd (one of our devs).
It is currently working rock solid in the test net environment.

I don't want to be too hasty, but this could be the smoothest least hassle coin swap ever recorded?!
I hope so, if nothing else we are certainly aiming to make it as smooth and as efficient as we possibly can.