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

[Abiky]

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.

Great to hear the good news. MUE has been moving with a nice uptrend in price lately. I can't imagine how much MUE will be worth once the migration is finished. It will attract a lot of new investors and big market players thus making it a highly traded cryptocurrency. With this in mind, I hope that MUE goes all the way up from #223 towards the top #15 at least in marketcap. It may seem a little bit far from happening, but who knows? Crypto land is highly volatile and MUE may end up being on the top list in coinmarketcap if it gets the attention it deserves.

Being a MUE supporter myself, I have been committed towards holding it and helping spread its awareness wherever I go in college, at home, etc. Speaking of which, will a new ARM binary for Raspberry Pi be available once MUE migrates? It would be pretty handy to have one for the newest iteration of the coin, as I always play and learn with different cryptocurrencies on my RPi. 

[rahmad2nd]

Price Grow and Grow up...
keep positive, hope see 1k sat for 1 month 

[portdavenport]

Interesting coin, just bought 300k MEU @ www.bittrex.com

Best of luck with the project

[110110101]

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.

Hey BizzyB, this is used for moving coins from the current blockchain to the new X11 one?

[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.

Hey BizzyB, this is used for moving coins from the current blockchain to the new X11 one?

Yeah, so the process will be really easy.
You create an account at our coin swapping site (will be disclosed nearer the time).
You deposit how many old MUE-quark you want to swap for MUE-x11.
You then put in your MUE-x11 wallet address, and those coins get returned to your new MUE-x11 wallet.

We've been testing it, and it takes under 1 minute pretty much.

[TreeAcid]

May I propose a new total coin supply post-swap? MNs run smoother when there are less coins in circulation, DASH has a great total supply, MUE I believe must have at the most 12M available supply. Let me explain why it is etymologically sound as well.

Monetary Unit. Great name. Mu is the 12th letter of the Greek alphabet. Thus, 12M coins would be logical and rational whilst at the same time paying a respectful homage to our Grecian forefathers that founded the very ethics and morals that we instill into crypto to this day.

Meditate on it, perhaps?

[bizzyb]

Interesting coin, just bought 300k MEU @ www.bittrex.com

Best of luck with the project

Thanks very much, great to have you onboard.
As we approach the migration to x11 with MasterNodes you may want to consider purchasing 200k more to enable you to have a MasterNode, which will require 500k MUE collateral.

We are currently in full swing testnet environment testing everything, so it will be 2-3 weeks yet, so plenty of time to accumulate

[bizzyb]

May I propose a new total coin supply post-swap? MNs run smoother when there are less coins in circulation, DASH has a great total supply, MUE I believe must have at the most 12M available supply. Let me explain why it is etymologically sound as well.

Monetary Unit. Great name. Mu is the 12th letter of the Greek alphabet. Thus, 12M coins would be logical and rational whilst at the same time paying a respectful homage to our Grecian forefathers that founded the very ethics and morals that we instill into crypto to this day.

Meditate on it, perhaps?

If only everyone in crypto was ethical and moral.  I guess we just fight the tide and hope for the best

Thanks for the feedback, I like your thinking.

MU also has the numerical value of 40 in greek numerals, hence the block reward of 40, and block time of 40 seconds.
With all things considered we believe strongly in trying to maintain a "low" per MUE unit value to allow easy tipping & transactions, which is reflected in the coin supply.
Also, a reduction in the coin supply 10 fold would be unethical I think, and potentially be the end of the project as an ethical and inclusive idea.

Thanks very much for taking the time to reply though, we'd be happy to have you continue to be involved.

[galixxx]

What is the advantage for running a masternode? Sorry for my question but couldn't find detailed information.

[110110101]

May I propose a new total coin supply post-swap? MNs run smoother when there are less coins in circulation, DASH has a great total supply, MUE I believe must have at the most 12M available supply. Let me explain why it is etymologically sound as well.

Monetary Unit. Great name. Mu is the 12th letter of the Greek alphabet. Thus, 12M coins would be logical and rational whilst at the same time paying a respectful homage to our Grecian forefathers that founded the very ethics and morals that we instill into crypto to this day.

Meditate on it, perhaps?

One thing to consider is the fact that the upcoming masternodes to be the second tier of MUE will require a 500 000 MUE collateral. If there was a cap of 12M, there could only be at most 24 masternodes, in practicality much less as people would either have to chip together and share a node, or you might have 1-2-x people controlling the 2nd tier of the network. Such a centralization is bad for a decentralized currency.

[110110101]

What is the advantage for running a masternode? Sorry for my question but couldn't find detailed information.

The masternodes will be part of the backbone of the MUE network. By running such a service the network rewards the nodes with a portion of the block rewards. So, you get paid a bit of MUE for your help in building a stronger network.  The masternodes are so called full nodes providing additional features and governing to the network.

[galixxx]

What is the advantage for running a masternode? Sorry for my question but couldn't find detailed information.

The masternodes will be part of the backbone of the MUE network. By running such a service the network rewards the nodes with a portion of the block rewards. So, you get paid a bit of MUE for your help in building a stronger network.  The masternodes are so called full nodes providing additional features and governing to the network.

Thank you for your quick answer. How big will the reward be? Just checking if it's something I will see ROI on those 500K investment.

[bizzyb]

What is the advantage for running a masternode? Sorry for my question but couldn't find detailed information.

The masternodes will be part of the backbone of the MUE network. By running such a service the network rewards the nodes with a portion of the block rewards. So, you get paid a bit of MUE for your help in building a stronger network.  The masternodes are so called full nodes providing additional features and governing to the network.

This^

galixxx, the plan is similar to the Dash business model.
Each block reward of 40 MUE will be split:
45% goes to the miner
45% goes to the MasterNode confirming that block
10% goes to the project development fund (to fund growth, services, promotions, infrastructure and so on)

Just as miners "compete" to win the block reward, so do the MasterNodes compete to process the blocks.

Dash currently has a little short of 4000 MasterNodes I believe, and the ROI is currently about 17% per year per MasterNode.
I would hope the MUE MasterNode ROI to outperform Dash significantly.

[bizzyb]

A good 10 minutes discussion about investing in MUE with Coinigy & Brian Beamish one of the most respected traders in the game.

https://www.youtube.com/watch?v=ZwUeHGrCJXI&feature=youtu.be&t=1h2m

Outcome?  He loves the look of the graphs and will likely invest in MUE as part of his crypto portfolio.

[110110101]

A napkin calc gives me:

40 MUE / block, and 2160 Blocks per day.
If we assume maximal amount of masternodes, 200 +63 MN after first year, so 263 MN in total.

The block reward gives 45% to a random masternode and each masternode gets its share:
Each masternode gets paid every 263 blocks (each masternode getting paid), and the number of blocks is 2160 per day.
Every masternode gets paid ( 2160 / 263 ) *40 MUE*45% = 148 MUE per day, or 148 * 365 = ~54K per year.

54 K / 500 K = ~11% ROI for the first year.

Of course, if the number of masternodes is less than this theoretical maximum, the payouts will be higher and the ROI slightly higher as well.

Dash masternodes get paid about 1.9 Dash per week, or 99 Dash / year.
99 Dash / 1000 Dash = ~10% annually.
This value goes down as both the MN count goes up and the block reward is reduced.


EDIT. changed 40%->45%

[bizzyb]

A napkin calc gives me:

40 MUE / block, and 2160 Blocks per day.
If we assume maximal amount of masternodes, 200 +63 MN after first year, so 263 MN in total.

The block reward gives 40% to a random masternode and each masternode gets its share:
Each masternode gets paid every 263 blocks (each masternode getting paid), and the number of blocks is 2160 per day.
Every masternode gets paid ( 2160 / 263 ) *40 MUE*40% = 131 MUE per day, or 131 * 365 = ~48K per year.

48 K / 500 K = ~10% ROI for the first year.

Of course, if the number of masternodes is less than this theoretical maximum, the payouts will be higher and the ROI slightly higher as well.

Dash masternodes get paid about 1.9 Dash per week, or 99 Dash / year.
99 Dash / 1000 Dash = ~10% annually.
This value goes down as both the MN count goes up and the block reward is reduced.

Hmmmm I'll look at this again later.
I haven't done extensive research but a couple of links place the Dash MN ROI at between 18-20% & that's based on around 4000 MasterNodes & MUE is going to have a magnitude of 10 fewer MNs?
https://dashpay.atlassian.net/wiki/questions/12910621/how-much-is-the-roi-of-a-masternode
https://news.bitcoin.com/study-dash-masternode-18-roi/

Also, block reward is 45% to miner, 45% to MN & 10% to project fund so that will increase the numbers a bit as you based it on 40%.

Plus there is the financial return based on a continued MUE price growth which everyone hopes will be significant.

It's going to be interesting what happens for sure.

Would be good to look at these numbers again as I think maybe we are are opposite ends of the scale, and the truth lies somewhere in the middle?

[110110101]

Ah yes, I had used the wrong masternode payment, 45% block reward is right of course.

I think those statistics on dashpay.atlassian.net are old. Using Moocowmoos ods-spreadsheet shows about 10% ROI for this year.
As the block rewards for Dash continues to go down, the ROI decreases every year as well.

Code:

date*	event	block height	min. block reward	masternode share	total mn min. DASH/day	ROI/yr	DASH/day	DASH/mth	USD/mth
02-13-16	7.14% decrease	420480	3,88010204	                50,00%		                1117	10,03%	0,275	                	8,357	                $103,27
02-12-17	7.14% decrease	630720	3,60295190   	                50,00%		                1038	9,31%	0,255		                7,760	                $95,89
02-12-18	7.14% decrease	840960	3,34559819	                50,00%		                964	8,65%	0,237	                	7,206	                $89,04
02-12-19	7.14% decrease	1051200	3,10662689		        50,00%		                895	8,03%	0,220	                	6,691	                $82,68
02-13-20	7.14% decrease	1261440	2,88472497		        50,00%		                831	7,46%	0,204		                6,213		        $76,78
02-12-21	7.14% decrease	1471680	2,67867318		        50,00%	                	771	6,92%	0,190	                	5,770	                $71,29
02-12-22	7.14% decrease	1681920	2,48733939		        50,00%	                	716	6,43%	0,176	                	5,358	                $66,20
02-12-23	7.14% decrease	1892160	2,30967229		        50,00%	                	665	5,97%	0,164	                	4,975	                $61,47
02-13-24	7.14% decrease	2102400	2,14469570		        50,00%	                	618	5,54%	0,152		                4,620	                $57,08
02-12-25	7.14% decrease	1471680	1,99150315		        50,00%	                	574	5,15%	0,141	                	4,290	                $53,00
02-12-26	7.14% decrease	1681920	1,84925292		        50,00%	                	533	4,78%	0,131		                3,983	                $49,22
02-12-27	7.14% decrease	1892160	1,71716343		        50,00%	                	495	4,44%	0,122		                3,699	                $45,70
02-13-28	7.14% decrease	2102400	1,59450890		        50,00%		                459	4,12%	0,113	                	3,434	                $42,44
02-12-29	7.14% decrease	2312640	1,48061540		        50,00%		                426	3,83%	0,105		                3,189	                $39,41
02-12-30	7.14% decrease	1681920	1,37485716	                50,00%	                	396	3,55%	0,097		                2,961	                $36,59

[110110101]

Just calculate the amount of MUE that each MN gets paid as a fraction to what the masternode costs. For Dash each MN require 1000 Dash but MUE requires 500x more, eg 500K. So even if the block times are shorter and the MUE masternodes are paid 8x every day, the ROI percentage is roughly the same on an annual basis. Over time though, MUE will pay out more as we see that the Block rewards for Dash decrease rather rapidly.

I'll have to check my numbers as well

[bizzyb]

Just calculate the amount of MUE that each MN gets paid as a fraction to what the masternode costs. For Dash each MN require 1000 Dash but MUE requires 500x more, eg 500K. So even if the block times are shorter and the MUE masternodes are paid 8x every day, the ROI percentage is roughly the same on an annual basis. Over time though, MUE will pay out more as we see that the Block rewards for Dash decrease rather rapidly.

I'll have to check my numbers as well

Let's look at it from a different angle.

45% of block rewards go to MNs

So per 24 hr period 45% of about 80,000 MUE is allocated to MNs.  This is a correct assumption right?

So per 24 hour period, whether there is 1 MN or 1000 MNs, 45% (36,000) is "given" to MNs.  Is this right?

So over a year, 365 x 36,000 = 13,140,000 is given to MNs

I'm going to "assume":
that 50% of the MUE coin supply will be invested in MasterNodes
the price per MUE DOESN'T increase (which it will & therefore the number of new MNs will reduce)


**If year 1 the number of MNs is 100 return is
13,140,000 (amount of MUE allocated to MNs) / 100 (Number of MNs) = 131,400 MUE per MN

ROI is 131,400/500,000 = 26.2% ROI

**year 2 an extra 30 million MUE are created, and 50% of that is invested in new MNs, so an extra 30 MNs
13,140,000 (amount of MUE allocated to MNs) / 130 (Number of MNs) = 101,076 MUE per MN

ROI is 101,076/500,000 = 20.2% ROI

**year 3
13,140,000/160 (Number of MNs) = 82,125 MUE per MN

ROI is 82,125/500,000 = 16.4% ROI

Just got your e-mail with your spreadsheet, so I'll look at that later too so we can get to some kind of reasoned guesstimate.

[110110101]

Just calculate the amount of MUE that each MN gets paid as a fraction to what the masternode costs. For Dash each MN require 1000 Dash but MUE requires 500x more, eg 500K. So even if the block times are shorter and the MUE masternodes are paid 8x every day, the ROI percentage is roughly the same on an annual basis. Over time though, MUE will pay out more as we see that the Block rewards for Dash decrease rather rapidly.

I'll have to check my numbers as well

Let's look at it from a different angle.

45% of block rewards go to MNs

So per 24 hr period 45% of about 80,000 MUE is allocated to MNs.  This is a correct assumption right?

So per 24 hour period, whether there is 1 MN or 1000 MNs, 45% (36,000) is "given" to MNs.  Is this right?

So over a year, 365 x 36,000 = 13,140,000 is given to MNs

I'm going to "assume":
that 50% of the MUE coin supply will be invested in MasterNodes
the price per MUE DOESN'T increase (which it will & therefore the number of new MNs will reduce)


**If year 1 the number of MNs is 100 return is
13,140,000 (amount of MUE allocated to MNs) / 100 (Number of MNs) = 131,400 MUE per MN

ROI is 131,400/500,000 = 26.2% ROI

**year 2 an extra 30 million MUE are created, and 50% of that is invested in new MNs, so an extra 30 MNs
13,140,000 (amount of MUE allocated to MNs) / 130 (Number of MNs) = 101,076 MUE per MN

ROI is 101,076/500,000 = 20.2% ROI

**year 3
13,140,000/160 (Number of MNs) = 82,125 MUE per MN

ROI is 82,125/500,000 = 16.4% ROI

Just got your e-mail with your spreadsheet, so I'll look at that later too so we can get to some kind of reasoned guesstimate.

Yep, it looks good man. It all comes down to what kind of estimate number of masternodes are set up, as the rewards are divided among the masternodes, this greatly affects the estimated ROI. Our numbers are on par, so maybe making a graph with different amount of masternodes can give all investors an idea as to what kind of ROI can be expected.

So, a few different lines showing 100 MNs for year 1-5, 150 MNs, 200, 250, 300, so it would perhaps be sufficient for helping everyone?

So, no 150% ROI, but more likely somewhere in the 25% region is probably a safe assumption!