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

[bizzyb]

Just a heads up wrt the testing phase of the new code for migration to X11 & MasterNodes.

We are being very thorough and also making some tweaks to the code we know will be beneficial.

With this there is a slight delay before we make the beta test public and we are running 7-10 days behind schedule.
Sorry about that, we have no plans to rush this without doing it right.

[Abiky]

Just a heads up wrt the testing phase of the new code for migration to X11 & MasterNodes.

We are being very thorough and also making some tweaks to the code we know will be beneficial.

With this there is a slight delay before we make the beta test public and we are running 7-10 days behind schedule.
Sorry about that, we have no plans to rush this without doing it right.

No need to rush for it. As long as it is stable, there should be no problem. Thanks for the update. MUE prices right now have been on a steady decline but relatively stable between the $0.000543 - $0.000580 mark. I hope that this would change once we migrate towards the X11 mining algo and masternodes. It will definitely attract both new and old investors alike. 

[110110101]

Just a heads up wrt the testing phase of the new code for migration to X11 & MasterNodes.

We are being very thorough and also making some tweaks to the code we know will be beneficial.

With this there is a slight delay before we make the beta test public and we are running 7-10 days behind schedule.
Sorry about that, we have no plans to rush this without doing it right.

Thanks for the update BizzyB! I'd definitely wager that it's better to wait and get things right the first time rather than there are mistakes that require a fork just as MUE relaunches. that being said, taking the Dash X11 code base, I assume that MUE can make "sporks" or soft forks on the fly if something erroneous is detected to the network?

[Haunebu81]

What percentage of the 40 MUE per block do the Masternodes get?

[110110101]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

[Haunebu81]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

[bizzyb]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

It's the same payout schedule as Dash
It will work well I'm quite sure and you won't regret your decision.

[110110101]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion?

[bizzyb]

Public beta testing of the new x11and MasterNode code should be going live today or tomorrow.
Watch this space

[Haunebu81]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion?

I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development).

Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time).

Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance.

Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future.


MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward.


If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know!

[110110101]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion?

I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development).

Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time).

Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance.

Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future.


MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward.


If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know!

You bring up an interesting point. Dash, that is the base code that the MUE X11 implementation will be based off, also has a higher block reward / collateral value, currently about 1.9 dash / 1000 collateral and 2.5 min block time). I guess the 40 sec / 40 MUE block reward is important to the developpers and as such it is kept for historical or fundamental reasons.

It looks as the inflation will be lower than for other cryptos, so people will have to evaluate whether other coins are better investments in that sense.

[bizzyb]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion?

I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development).

Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time).

Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance.

Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future.


MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward.


If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know!

Great place to discuss this stuff.
Have you taken into consideration the number of MNs you are competing against? i.e your luck in being the chosen MN to process a block?
While the reward to collateral % is lower (hadn't thought about it before) the chances of a MUE MN processing a block is 40x greater than a Dash MN for example.
What does it look like with the other examples you mentioned?

[Haunebu81]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion?

I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development).

Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time).

Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance.

Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future.


MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward.


If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know!

Great place to discuss this stuff.
Have you taken into consideration the number of MNs you are competing against? i.e your luck in being the chosen MN to process a block?
While the reward to collateral % is lower (hadn't thought about it before) the chances of a MUE MN processing a block is 40x greater than a Dash MN for example.
What does it look like with the other examples you mentioned?

I already took into consideration the block times. Let's look at the number of competing MN's now.

Darknet has over 900 MN;s, Syndciate has about 258, Bitsend, not sure, maybe 50 to 70?

I personally have enough to fire up 6 MN's right off the hop. Let's assume in this example there will be a total of 18 MUE MN's, I'd be getting 33% of the rewards.

Currently, 3,000,000 MUE has a dollar value of about ~$1,665 USD.

So in this particular scenario, by running 6 of 18 MN's, I'd be getting a third of the MN rewards.

With an average of 2160 blocks being solved per day, that would yield 38,880 MUE daily combined income for MN's. 33% of that would be ~12,960 MUE per day, or ~$7.19 USD.

Now let's look at a ~$1,665 DNET investment. That would give us just over 37 MN's to work with.
Each DNET MN earns on average 46.8 DNET, multiplied by 37 would yield 1731.6 DNET, or $7.76 USD per day. However, I'd only have just under 4% of the total number of MN's, not 33%

Now let's look at Syndicate. About 258 MN's online. $1665 USD would get me just over 7 MN's. Currently each MN yields on average about 28 SYNX. Multiply that by 7 and we earn 196 SYNX per day, which has a dollar value of about $8.57. In this case 7 masternodes of 258 represent 2.7% of the total number of masternodes.

So in order to be in the same ballpark, I'd need to be controlling a much larger percentage of the total masternodes: 33% compared to Syndicate's 2.7% and Darknet's nearly 4%.

(All prices obtained from coinmarketcap.com)


Does anyone have any numbers regarding DASH? I'm a bit too lazy to dig up that info at the moment.

[110110101]

Lets look at Dash then.
1000 Dash = $11.60 / Dash * 1000 = $11.600

1665 / 11600 = 0.1435 so roughly 1/7 of a Dash masternode.

Payouts for Dash masternodes are about 1.9 Dash every 7 days, or 0.27 Dash/day which is about:  $3.14 / day.

If I see what you are saying Haunebu81 is that the collateral for MUE should preferably be much higher as this prevents people for obtaining larger portions of the available masternodes?
Of course by having a higher requirement, the fewer the amount of masternodes (weaker network) but more profit to those who indeed have them.

[bizzyb]

What percentage of the 40 MUE per block do the Masternodes get?

The plan is miners get 45%, masternodes 45% and the remaining 10% goes to funding the development, promotion etc.

40 MUE x 45% = 18 MUE per block.

That's pretty low to be honest. Curious to see how many MN's will be set up with such small incentive. Too late for me though. I already bought in, so may as well stake and hold.

Just curious as to what division you would suggest? A higher payout to miners, more to development, more to masternodes? What is it with this setup that could be improved in your opinion?

I'm okay with the way the rewards are divided. However, in my opinion I'd like to see bigger rewards in general, closer to 500 MUE per block. (Something along the lines of 225 MN / 225 POW / 50 Development).

Take Darknet for example. Collateral of 10,000 DNET, MN rewards of 29.25 DNET per block, one minute blocks. Each reward is 0.2925% of the collateral balance. (However it will be reducing over time).

Syndicate, requires collateral balance of 5,000 SYNX, one minute blocks, rewards are 5 SYNX per block, which equals 0.1% of collateral balance.

Bitsend. 25,000 collateral and currently 32.5 BSD MN reward per block which will eventually increase to 40 BSD per block. 32.5 BSD equals 0.13% of the collateral. divide that by 6 since they have 6 minute blocks and you have 0.0216% rewards per collateral balance, eventually reaching 0.026% in the near future.


MUE, collateral is 500,000 MUE, rewards are 18 MUE per block. That's 0.0036% of the collateral balance. Taking in to consideration the 40 second block times, multiply it by 50%, that gives you 0.0054% of the collateral balance per block reward.


If my math is wrong, please correct me. I'm not here to argue, or FUD, just expressing my opinion. Like I said, I already picked up a handful of MN worth of coins, and plan to hold as it seems like a promising coin to hang on to. If I'm missing something, please let me know!

Great place to discuss this stuff.
Have you taken into consideration the number of MNs you are competing against? i.e your luck in being the chosen MN to process a block?
While the reward to collateral % is lower (hadn't thought about it before) the chances of a MUE MN processing a block is 40x greater than a Dash MN for example.
What does it look like with the other examples you mentioned?

I already took into consideration the block times. Let's look at the number of competing MN's now.

Darknet has over 900 MN;s, Syndciate has about 258, Bitsend, not sure, maybe 50 to 70?

I personally have enough to fire up 6 MN's right off the hop. Let's assume in this example there will be a total of 18 MUE MN's, I'd be getting 33% of the rewards.

Currently, 3,000,000 MUE has a dollar value of about ~$1,665 USD.

So in this particular scenario, by running 6 of 18 MN's, I'd be getting a third of the MN rewards.

With an average of 2160 blocks being solved per day, that would yield 38,880 MUE daily combined income for MN's. 33% of that would be ~12,960 MUE per day, or ~$7.19 USD.

Now let's look at a ~$1,665 DNET investment. That would give us just over 37 MN's to work with.
Each DNET MN earns on average 46.8 DNET, multiplied by 37 would yield 1731.6 DNET, or $7.76 USD per day. However, I'd only have just under 4% of the total number of MN's, not 33%

Now let's look at Syndicate. About 258 MN's online. $1665 USD would get me just over 7 MN's. Currently each MN yields on average about 28 SYNX. Multiply that by 7 and we earn 196 SYNX per day, which has a dollar value of about $8.57. In this case 7 masternodes of 258 represent 2.7% of the total number of masternodes.

So in order to be in the same ballpark, I'd need to be controlling a much larger percentage of the total masternodes: 33% compared to Syndicate's 2.7% and Darknet's nearly 4%.

(All prices obtained from coinmarketcap.com)


Does anyone have any numbers regarding DASH? I'm a bit too lazy to dig up that info at the moment.

Liking the research!

[Haunebu81]

Liking the research!
Another consideration is the price potential of course.
We're 90 sats atm & 900 sats within months of launch (& the associated projects due to come online) is not inconceivable.

Thanks! Some people in the slack channel don't seem to feel the same way, lol. All I did was state why I think the rewards are low, and I gave an explanation to back up my opinion when 110110101 asked me to.

Either way, I look forward to staking my MN's!


And yeah going from 90 sats to 900 is very doable considering the market cap is currently only $55k. Glad I found this one early

[bizzyb]

Liking the research!
Another consideration is the price potential of course.
We're 90 sats atm & 900 sats within months of launch (& the associated projects due to come online) is not inconceivable.

Thanks! Some people in the slack channel don't seem to feel the same way, lol. All I did was state why I think the rewards are low, and I gave an explanation to back up my opinion when 110110101 asked me to.

Either way, I look forward to staking my MN's!


And yeah going from 90 sats to 900 is very doable considering the market cap is currently only $55k. Glad I found this one early

It's all good man, we're all on this journey together, doesn't mean we have to like each other and our opinions every single step of the way (just most of them though )
I'm all for positive constructive discussion, crypto needs more of it.

[110110101]

Liking the research!
Another consideration is the price potential of course.
We're 90 sats atm & 900 sats within months of launch (& the associated projects due to come online) is not inconceivable.

Thanks! Some people in the slack channel don't seem to feel the same way, lol. All I did was state why I think the rewards are low, and I gave an explanation to back up my opinion when 110110101 asked me to.

Either way, I look forward to staking my MN's!


And yeah going from 90 sats to 900 is very doable considering the market cap is currently only $55k. Glad I found this one early

It's all good man, we're all on this journey together, doesn't mean we have to like each other and our opinions every single step of the way (just most of them though )
I'm all for positive constructive discussion, crypto needs more of it.

I am not in favor of changing the block reward, I think it's ok even if the payouts are lower than other currencies. I do however like to hear other people's opinions as they are the ideas that, as a group, push us forward.

I think it would be more cautious to make sure the transition to X11 goes without a hiccup. As we will be on two separate chains during the transition, quark and X11, I see a potential risk in changing block rewards for one chain. If the MUE community sees the block rewards as a problem, then later on down the line make a proposal to the masternode holders and they can call a vote. I do not know what percentage of the stake holders is required to make such a fundamental change to the protocol, but that would be an excellent use of the voting system to come to a consensus.  

[theboccet]

Liking the research!
Another consideration is the price potential of course.
We're 90 sats atm & 900 sats within months of launch (& the associated projects due to come online) is not inconceivable.

Thanks! Some people in the slack channel don't seem to feel the same way, lol. All I did was state why I think the rewards are low, and I gave an explanation to back up my opinion when 110110101 asked me to.

Either way, I look forward to staking my MN's!


And yeah going from 90 sats to 900 is very doable considering the market cap is currently only $55k. Glad I found this one early

Your opinion and others ones are always welcome and this is the only thing that can keep this project moving forward
Thank you for joining MUE 

[Haunebu81]

Liking the research!
Another consideration is the price potential of course.
We're 90 sats atm & 900 sats within months of launch (& the associated projects due to come online) is not inconceivable.

Thanks! Some people in the slack channel don't seem to feel the same way, lol. All I did was state why I think the rewards are low, and I gave an explanation to back up my opinion when 110110101 asked me to.

Either way, I look forward to staking my MN's!


And yeah going from 90 sats to 900 is very doable considering the market cap is currently only $55k. Glad I found this one early

Your opinion and others ones are always welcome and this is the only thing that can keep this project moving forward
Thank you for joining MUE 

No problem. I appreciate the open mindedness. That's a very positive attitude to have compared to all the name calling, hostility, biased and opinionated posts that we're all far too used to around here.