LemnosDark
New member
I posted this to reddit here http://www.reddit.com/r/DRKCoin/comments/26tvv8/how_much_profit_can_i_potentially_make_setting_up/
but wanted to make sure to include it at darkcointalk.org.
I saw instructions on how to setup a masternode. It covers costs, profit potential and setup instructions.
Some of the info went over my head but this is ok since I can hire somebody to set up a masternode but I do not fully understand the profitability per this post at
https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/ So I did some research which I am sharing for comments.
This post https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225 says:
Profit per masternode are as follows:
1x Masternode = 576 blocks * 10% of the reward = 1036DRK/day
8x Masternodes = (576/8) blocks * 10% of the reward = 129DRK/day
16x Masternodes = (576/32) blocks * 10% of the reward = 32DRK/day
128x Masternodes = (576/128) blocks * 10% of the reward = 8.1DRK/day
So What is the profit to me in darkcoin if I am one of the 8th Masternodes or 16th or 128th or 1200th Masternodes?
What is the "reward" they reference? I unfortunately am not good at this kind of math. Am I the only one?
I do more research.
How many masternodes exist now? See below links for answer. As of May 29 it is over 350 something.
http://www.reddit.com/r/DRKCoin/comments/26ruk6/how_many_quantity_of_masternode_nowwhere_can_i/
http://drk.poolhash.org/darksend.html
Unfortunately, I do not have the expertise to understand what I am seeing. How many coins are being generated per day in total?
Please do not tell me if I dont have the expertise to understand this that I should stay out. So I do more research.
How many masternodes will there be? See thread below. It is dynamic.
https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/
Much of the other info I need to evaluate this investment I can find but not on its profitability in non technical terms.
I am not a programmer of crypto but I can read a profit and loss statement. So I do more .. you guessed it.. research.
Any and all help is appreciated. If it was easier to follow the profit on this maybe more masternodes would be setup which may or may not be good for the masternodes
but would be good for Blackcoin which I am investing in.
Not sure why masternodes are not explained at all on Darkcoins web page.
See Darkcoin's home page > resources > masternode
https://www.darkcoin.io/masternodes.html (masternodes guide coming soon).
If darksend aka the masternodes are such a key part of Darkcoins present and future success this lack of clarity needs to be
addressed at https://darkcointalk.org/ & http://www.reddit.com/r/DRKCoin and on Darkcoin's home page.
The profit picture is also changing seems the 10% has gone to 20% and starts June 14th. This is good news. What does it mean in laymans terms?
http://www.reddit.com/r/DRKCoin/comments/26mkm7/expect_at_least_350k_drk_to_be_bought_for_more/
Found this > 10% of the coins generated are allocated to Master Nodes in this thread http://www.reddit.com/r/DRKCoin/comments/26fvs9/i_want_to_be_part_of_a_masternode_but/
[–]DyslexicZombei 1 point 4 days ago
Note: not just a percentage but 10% of the coins generated are allocated to Master Nodes.
So how many coins are generated? Or how many Darkcoins are issued daily?
WOW! Found info I was looking for about coins generated per day - here http://wiki.darkcoin.eu/wiki/FAQ
"The monetary base is expanding at a rate of ~3000 to ~7000 coins per day, depending on the difficulty. The issuing rate changes dynamically depending on the difficulty
of the mining: More coins are produced as an incentive to mine while the hashrate of the network is low and less coins are produced when the hashrate of the network is high.
As of May 15, the minimum block reward has been achieved, with only 5 DRKs issued per block - although it is not yet stable at that level. When the minimum reward is steadily at 5 DRKs / block, it will equal an issuing rate of just 2880 coins per day.
So divide 2880 coins per day by 1200 masternodes* (my guess - nobody knows how many masternodes there will be see https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225)
= 2.4 Darkcoins per day or at $10 per coin about $25 If the coin goes to $50 well then you can do that math.
WAIT!
It is 20% of the coins generated (this is the reward). Above it says 10% but it is going to be 20% right?
2880 coins per day x 20% = 576 coins divided by the number of masternodes (1200?) = .48 per masternode or $5 per day? Could be $25 per day if coin sells for $50.
OR is it... Based on the blocks your masternode solves?
OH gosh I thought I almost had it figured out. Does anybody know the exact answer? I think it is the info I have under wait.
Dear Evan (the developer of blackcoin) do you see my confusion?
Lets go on>>> Maybe $80 per month.
Costs to put up masternode:
Info from here http://www.reddit.com/r/DRKCoin/comments/26fvs9/i_want_to_be_part_of_a_masternode_but/
[–]DyslexicZombei 1 point 4 days ago
Free info from homework already done:
The cheapest instance at amazon will work for a Masternode at only $23 a year, power included. (I have not confirmed this)
Firewall protection needs to be set up. It's up to you if you pay for protection, but it's often true that you get what you pay for.
DDOS protection is needed to keep the node online during an attack. Non-free protection starts at $50-60 per month. You could try to get away w free DDOS but they're not meant for serious or sustained attacks. See above advice regarding getting what you pay for.
How many Darkcoins will be issued in total?
Unlike the number of Bitcoins in which the number is known in advance, Darkcoins have a maximum theoretical limit of approximately 21.3 million coins by 2050 with a slow issuing curve. However the real number of coins can be reduced to something like 16 or 17 million coins in case the hashrate of the network brings the mining reward lower in the near future.
Initially the plan was to have a theoretical limit of approximately 84 million coins, however due to the initial block reward formula which was aggressively diminishing block rewards without a minimum reward set, it would be near impossible to have more than 10 million coins issued.
Minimum block reward is now set at 5 DRKs per block and instead of using block halving every 4 years, Darkcoin employs a far smoother 7% annual decrease in coins issued per block. The minimum block reward was achieved on May 15th 2014.
Bottom line answer is: The theoretical maximum is close to 22mn but in practice we might not see more than 16-17mn coins due to tremendous difficulty increase very early in the coin's life.
Is this profitable?
$5 per day oh lets say $10 per day x 30 days = $300 per month minus costs per month of $80 = $220
And your investment is still yours. You still have the darkcoin in your wallet. You dont buy a masternode.
so yes this seems profitable but I bet my math is wrong and I need to be sure.
All comments appreciated.
but wanted to make sure to include it at darkcointalk.org.
I saw instructions on how to setup a masternode. It covers costs, profit potential and setup instructions.
Some of the info went over my head but this is ok since I can hire somebody to set up a masternode but I do not fully understand the profitability per this post at
https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/ So I did some research which I am sharing for comments.
This post https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225 says:
Profit per masternode are as follows:
1x Masternode = 576 blocks * 10% of the reward = 1036DRK/day
8x Masternodes = (576/8) blocks * 10% of the reward = 129DRK/day
16x Masternodes = (576/32) blocks * 10% of the reward = 32DRK/day
128x Masternodes = (576/128) blocks * 10% of the reward = 8.1DRK/day
So What is the profit to me in darkcoin if I am one of the 8th Masternodes or 16th or 128th or 1200th Masternodes?
What is the "reward" they reference? I unfortunately am not good at this kind of math. Am I the only one?
I do more research.
How many masternodes exist now? See below links for answer. As of May 29 it is over 350 something.
http://www.reddit.com/r/DRKCoin/comments/26ruk6/how_many_quantity_of_masternode_nowwhere_can_i/
http://drk.poolhash.org/darksend.html
Unfortunately, I do not have the expertise to understand what I am seeing. How many coins are being generated per day in total?
Please do not tell me if I dont have the expertise to understand this that I should stay out. So I do more research.
How many masternodes will there be? See thread below. It is dynamic.
https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/
Much of the other info I need to evaluate this investment I can find but not on its profitability in non technical terms.
I am not a programmer of crypto but I can read a profit and loss statement. So I do more .. you guessed it.. research.
Any and all help is appreciated. If it was easier to follow the profit on this maybe more masternodes would be setup which may or may not be good for the masternodes
but would be good for Blackcoin which I am investing in.
Not sure why masternodes are not explained at all on Darkcoins web page.
See Darkcoin's home page > resources > masternode
https://www.darkcoin.io/masternodes.html (masternodes guide coming soon).
If darksend aka the masternodes are such a key part of Darkcoins present and future success this lack of clarity needs to be
addressed at https://darkcointalk.org/ & http://www.reddit.com/r/DRKCoin and on Darkcoin's home page.
The profit picture is also changing seems the 10% has gone to 20% and starts June 14th. This is good news. What does it mean in laymans terms?
http://www.reddit.com/r/DRKCoin/comments/26mkm7/expect_at_least_350k_drk_to_be_bought_for_more/
Found this > 10% of the coins generated are allocated to Master Nodes in this thread http://www.reddit.com/r/DRKCoin/comments/26fvs9/i_want_to_be_part_of_a_masternode_but/
[–]DyslexicZombei 1 point 4 days ago
Note: not just a percentage but 10% of the coins generated are allocated to Master Nodes.
So how many coins are generated? Or how many Darkcoins are issued daily?
WOW! Found info I was looking for about coins generated per day - here http://wiki.darkcoin.eu/wiki/FAQ
"The monetary base is expanding at a rate of ~3000 to ~7000 coins per day, depending on the difficulty. The issuing rate changes dynamically depending on the difficulty
of the mining: More coins are produced as an incentive to mine while the hashrate of the network is low and less coins are produced when the hashrate of the network is high.
As of May 15, the minimum block reward has been achieved, with only 5 DRKs issued per block - although it is not yet stable at that level. When the minimum reward is steadily at 5 DRKs / block, it will equal an issuing rate of just 2880 coins per day.
So divide 2880 coins per day by 1200 masternodes* (my guess - nobody knows how many masternodes there will be see https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225)
= 2.4 Darkcoins per day or at $10 per coin about $25 If the coin goes to $50 well then you can do that math.
WAIT!
It is 20% of the coins generated (this is the reward). Above it says 10% but it is going to be 20% right?
2880 coins per day x 20% = 576 coins divided by the number of masternodes (1200?) = .48 per masternode or $5 per day? Could be $25 per day if coin sells for $50.
OR is it... Based on the blocks your masternode solves?
OH gosh I thought I almost had it figured out. Does anybody know the exact answer? I think it is the info I have under wait.
Dear Evan (the developer of blackcoin) do you see my confusion?
Lets go on>>> Maybe $80 per month.
Costs to put up masternode:
Info from here http://www.reddit.com/r/DRKCoin/comments/26fvs9/i_want_to_be_part_of_a_masternode_but/
[–]DyslexicZombei 1 point 4 days ago
Free info from homework already done:
The cheapest instance at amazon will work for a Masternode at only $23 a year, power included. (I have not confirmed this)
Firewall protection needs to be set up. It's up to you if you pay for protection, but it's often true that you get what you pay for.
DDOS protection is needed to keep the node online during an attack. Non-free protection starts at $50-60 per month. You could try to get away w free DDOS but they're not meant for serious or sustained attacks. See above advice regarding getting what you pay for.
How many Darkcoins will be issued in total?
Unlike the number of Bitcoins in which the number is known in advance, Darkcoins have a maximum theoretical limit of approximately 21.3 million coins by 2050 with a slow issuing curve. However the real number of coins can be reduced to something like 16 or 17 million coins in case the hashrate of the network brings the mining reward lower in the near future.
Initially the plan was to have a theoretical limit of approximately 84 million coins, however due to the initial block reward formula which was aggressively diminishing block rewards without a minimum reward set, it would be near impossible to have more than 10 million coins issued.
Minimum block reward is now set at 5 DRKs per block and instead of using block halving every 4 years, Darkcoin employs a far smoother 7% annual decrease in coins issued per block. The minimum block reward was achieved on May 15th 2014.
Bottom line answer is: The theoretical maximum is close to 22mn but in practice we might not see more than 16-17mn coins due to tremendous difficulty increase very early in the coin's life.
Is this profitable?
$5 per day oh lets say $10 per day x 30 days = $300 per month minus costs per month of $80 = $220
And your investment is still yours. You still have the darkcoin in your wallet. You dont buy a masternode.
so yes this seems profitable but I bet my math is wrong and I need to be sure.
All comments appreciated.
