Welcome to the Dash Forum!

Please sign up to discuss the most innovative cryptocurrency!

Newbie question about masternode setup

Discussion in 'Masternode Guides' started by BeachM, Oct 4, 2015.

  1. BeachM

    BeachM New Member

    Joined:
    Mar 23, 2015
    Messages:
    4
    Likes Received:
    7
    Trophy Points:
    3
    Hey guys,

    Please forgive me if this question has been answered already. I've been reading TAO's excellent MN setup guide and just wanted clarification on a part of the process.

    From what i understand so far you generate a pub/priv key on your local wallet then send 1000 DASH to the pub address.

    Now this is the bit that confuses me, you put your private key in a config file which is uploaded to the remote server. I must be missing something here, wouldn't that mean your priv key is no longer cold as it has been transferred over the net and is now sitting on the remote server in a config file?
     
  2. splawik21

    splawik21 Grizzled Member
    Dash Core Team Foundation Member Dash Support Group

    Joined:
    Apr 8, 2014
    Messages:
    1,898
    Likes Received:
    1,277
    Trophy Points:
    1,283
    Hello :)

    go to your debug window

    write
    Code:
    masternode genkey
    you do not provide you private key of the pub address where the 1000 coins are.
    This code is nothing but do not give it to noone as using it someone can take down your node or vote using it etc.... but your coins are safe anyway.

    Hope it explaind enough.
     
    #2 splawik21, Oct 4, 2015
    Last edited by a moderator: Jan 19, 2016
    • Like Like x 1
  3. MrZilch

    MrZilch Active Member

    Joined:
    Jun 9, 2015
    Messages:
    96
    Likes Received:
    106
    Trophy Points:
    93
    As Splawik said its not the private key from you coin address, its the masternode priv key. 2 different things
     
    • Like Like x 1
  4. TaoOfSatoshi

    TaoOfSatoshi Grizzled Member
    Linguistic Dash Nation Founder Moderator

    Joined:
    Jul 15, 2014
    Messages:
    2,621
    Likes Received:
    2,585
    Trophy Points:
    1,183
    BeachM Thank you for using my guide! Hope you found it easy to use.

    They are right, you have nothing to worry about by sharing your Masternode key.
     
  5. BeachM

    BeachM New Member

    Joined:
    Mar 23, 2015
    Messages:
    4
    Likes Received:
    7
    Trophy Points:
    3
    Hey guys,

    Thanks for the clarification everything made sense after running through Tao's guide. Master node is now up and running :)

    I changed the procedure slightly and generated the wallet in a clean Ubuntu instance. Although it was a steeper learning curve being a linux newbie I thought it was worth the extra effort and peace of mind not having to trust a non-fresh windows instance.

    Thanks splawik21 & MrZilch for the quick replies and TaoOfSatoshi for the excellent guide.

    Super excited to be a part of the dash community, keep up the good work!
     
    • Like Like x 4
  6. TaoOfSatoshi

    TaoOfSatoshi Grizzled Member
    Linguistic Dash Nation Founder Moderator

    Joined:
    Jul 15, 2014
    Messages:
    2,621
    Likes Received:
    2,585
    Trophy Points:
    1,183
    Great to hear! Enjoy the Masternode payments...
     
    • Like Like x 2
  7. splawik21

    splawik21 Grizzled Member
    Dash Core Team Foundation Member Dash Support Group

    Joined:
    Apr 8, 2014
    Messages:
    1,898
    Likes Received:
    1,277
    Trophy Points:
    1,283
    Our community is one of the greatest value in crypto world.
    Pleasure to help you.
    Have a bannana smile on your face in next 6 days once your first MN payment occurs :D
     
    • Like Like x 2
    • Trolling Trolling x 1

Share This Page