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Collateralized mining - ETA

Discussion in 'Mining' started by Propagandalf, Jul 24, 2017.

  1. Propagandalf

    Propagandalf New Member

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    Is there a rough ETA for when collateralized mining may become a reality? When this happens, is it possible for a miner to somehow collaborate with someone else's master node, or does each miner need to own 1000 coins to simultaneously run mining and the master node?

    Will there be some sort of cap on how much mining power you can allocate to one master node?
     
  2. dashminelover

    dashminelover Member

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    That should not happen,mining should remain separate and decenteralized
     
  3. Propagandalf

    Propagandalf New Member

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    Since I am a new user I cannot post links yet, but I read somewhere that collateralized mining is a planned update, and that 'regular' mining (and master nodes) will continue for a while.
     
  4. Vedran Yoweri

    Vedran Yoweri Active Member

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  5. dashminelover

    dashminelover Member

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    Thanks for sharing it was knowledgeable.

    I have few questions.

    1. Expected timing as i could guess is June 2018? please share your guess
    2. Master nodes will give key to mining contractors, so how this will reduce miners reward and how will miners be able to get mining key? would that be sole discretion of master nodes or what? And why will master nodes even give the keys? Why won't they simply do mining themselves?
    3. I am confused on the fact that whether the sub contracting mining from master node to miner continue or subsequently master node will be the miner thus removing miners from the game?
    4. When the block size increase to 2 MB and later on further will this increase the mining incentive / miners income too or not?
     
  6. youni

    youni New Member

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    As a normal user running a single asic miner, how will collateralized mining affect me in the future? Since hashpower will be determined by how many masternodes a person runs, does that mean having a high h/s asic is meaningless? What I'm trying to find out is when collateralized mining is mandatory, how will a newcoming start mining dash? Can we still buy asics and join a pool to mine from home, or will we have to rent equipment from some datacenter?
     
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  7. Vedran Yoweri

    Vedran Yoweri Active Member

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    Phase II would be around that time maybe. Don't know.

    I think i'll rent my key to the highest bidder.

    Eventually miners would need a MN. Will miners become a MNO or will MNO become miners? Semantics.

    More transactions more fees i guess.
     
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  8. Propagandalf

    Propagandalf New Member

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    Thanks for the information and good questions so far. I am still wondering about the details concerning how Master Nodes can rent out their key to miners. Will negotiation be done directly between miner and MN, or through some sort of exchange? Or both perhaps? I'm also wondering if each MN is 'limited' to handling for instance 1000 MH/s hashrate, so that people who own ASICs with a higher amount of hashpower will need to sign contracts (rent keys) from multiple MNOs.
     
  9. ottokoester

    ottokoester New Member

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    Definitely more transaction and more fees... always the difficulty problem.
    I think that MNO will not become a big miner, maybe he will work as a Venture... just buying and selling...
    Yes, it was a nice time for miners, who has some 1000 DASH now, has no reason, or better they have, or wait... there is no reason to be afraid about this... against miners, they are suffering everyday... the clock time is just doing tic-tac...
     
  10. dashminelover

    dashminelover Member

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    Lets hope for the best and have faith in power of nature :)
     
  11. Miner237

    Miner237 Well-known Member
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    The details haven't been spelled out but I imagine its something you can scale so home miners can pool their hashes for example if you have 1 DASH you can mine up at 100Mhs, 10 DASH allows up to 1Ghs, 100 DASH allows for 10GHs and 1 masternode could run at 100 GHs...
     
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  12. dashminelover

    dashminelover Member

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    And what is your prediction for its activation?
     
  13. Miner237

    Miner237 Well-known Member
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    I don't see it until there is high centralization of miners currently DASH has a nice spread of mining power right now IMO lets see when new generations of miners start getting powered up. The future is exciting!
     
  14. Liquid71

    Liquid71 New Member

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    So you need to spend a couple hundred thousand just to make sure you will be able to mine? Seems crazy to invest in the miners unless you own a node
     
  15. dashminelover

    dashminelover Member

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    I am confident DASH Foundation will keep in view the interest of miners and do not allow nodes to monopolize it, lets hope for the best! On the other hands they are trying to do it to make sure no single mining group can take it over just like bitmain did in case of bitcoin
     
  16. Liquid71

    Liquid71 New Member

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    I don't like to invest in hope. I read it and kind of get what they are trying to do but seems like a big risk. I could see a scenario of having to bribe a master node in able to get permission to mine..I was gonna get a couple A5 dash miners but at $10k each and this additional risk i think I'll stick to one. Worst case I'll have to sell it at a loss to someone with a masternode since I can't afford a masternode
     
  17. Vedran Yoweri

    Vedran Yoweri Active Member

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    By the time this could happen the A5 model is a historical relic, only used for pivx, on stolen electric. Maybe with the A12 model.
     
  18. Liquid71

    Liquid71 New Member

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    I thought pivx was only POS no mining? And if this A5 gonna be obsolete that fast maybe I should sell it instead of mining lol
     
  19. dashminelover

    dashminelover Member

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    That's relaxing time period, :p
     
  20. mrearthbound

    mrearthbound Member

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    I'm not su sure about that. If I had to guess, the Dash Foundation would favor the MasterNodes, not the miners. Anyone can buy a Baikal miner today. Not everyone can buy a MN today. People who have MNs are early adopters and supporters, and big whales (now or back then). It would've been relatively easy to put $2000 when Dash was worth $2 in 2015, as opposed to $200.000 now. I'd think Dash would favor early adopters and big investors rather than a regular joe miner. And it makes sense. I bet founders have lots of MNs, and would like to support those who supported them when they weren't that popular, back in the DarkCoin days.
     
  21. Vedran Yoweri

    Vedran Yoweri Active Member

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    As i understood it's the only sensible way to keep the network and transaction speed on-par with high speed MN network. Otherwise a miner would have to basicly buy MN hardware and network speed just to mine, this would be too expensive. So mining on the MN infrasructure is the only way to mine dash when the network speed goes up.

    The road map is changed and there's nothing about collateralized mining in it anymore. Anybody knows what's the new plan?
     
  22. dashminelover

    dashminelover Member

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    Are you sure that collateralized mining is no more?
     
  23. Vedran Yoweri

    Vedran Yoweri Active Member

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    No. It's just missing from the road map docs. No idea what's going on.
     
  24. dashminelover

    dashminelover Member

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    Keep me posted
     
  25. mrearthbound

    mrearthbound Member

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    It's right there on the footnote #12. It's under the Evolution v2 TBD section, so there's not a lot of detail on it.

    https://www.dash.org/2017/06/27/roadmap.html#f12
     
  26. Vedran Yoweri

    Vedran Yoweri Active Member

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    They deleted the text and forgot to remove the footnotes.
     
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  27. dashminelover

    dashminelover Member

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