• Forum has been upgraded, all links, images, etc are as they were. Please see Official Announcements for more information

TAO'S MASTERNODE SETUP GUIDE FOR DUMMIES (UPDATE GUIDE UPDATED FOR 13.0)

Yes. Or dedicated servers. Whatever it takes.

The payment is meant to compensate for your expenses, nobody is guaranteeing you a certain level of profit beyond that. In fact, reward payments will decrease over time as the block reward gets reduced every year.

And you can expect that, as long as there's good money to be made, more and more people will launch masternodes to get a slice of the pie. Right now, we still have the 1000-Dash hurdle to prevent an outright rush, but fractional ownership of masternodes is already in development. Then you can pay in whatever you can afford and get your share of the reward. Expect the number of nodes to skyrocket and times between payouts to get longer and longer.

That process will only stop once an equilibrium is reached where it roughly costs as much to run a masternode as you can generate income from it. At that point, only those with better, more stable and more cost-efficient hardware will still be profitable. In fact, the roadmap is already talking about "masternode-specific hardware with custom requirements". Low-end VPSs and Raspberry Pies will be squeezed out. So invest to upgrade or throw in the towel.
 
Last edited:
Hello, thank you for material i used it and it worked brilliant.

I have 2 questions:

1) How an i set up 2 MN for 1 wallet?

in masternode.conf (for dash qt) i made settings like this

MN900 MN-ServerIP:9999 PrivateKey1 TransactionNumber1 0
MN901 MN-ServerIP:9999 PrivateKey2 TransactionNumber2 0

and dash.conf in remote server (MN server) looks like

#---
rpcuser=randomname
rpcpassword=randompassword
rpcallowip=127.0.0.1
#----
listen=1
server=1
daemon=1
maxconnections=24
#--------------------
masternode=1
masternodeprivkey=PrivateKey1
externalip=MN-ServerIP



#----
rpcuser=randomname
rpcpassword=randompassword
rpcallowip=127.0.0.1
#----
listen=1
server=1
daemon=1
maxconnections=24
#--------------------
masternode=1
masternodeprivkey=PrivateKey2
externalip=MN-ServerIP

but it doesnt worked. can someone help me?

and second question is:

what is status : Not capable masternode: Masternode in POSE_BAN state


thank you
 
Last edited:
Hello,

Is it possible to setup a masternode in "regtest" mode?

I generated a masternode key and obtained the Tx Id (1000 dash). I get the following message when after the command "masternode start-alias <alias>"

{
"alias": "mn1",
"result": "failed",
"errorMessage": "Sync in progress. Must wait until sync is complete to start Masternode"
}

I think the issue may be with the server IP address in the dash.conf and masternode.conf. Since I'm running regtest, I just my localhost address and a random port. I've tried 127.0.0.1 and just plain removing it; still get the same message. Any help would be appreciated.

Thanks,
Phillipe
 
Hello,

Is it possible to setup a masternode in "regtest" mode?

I generated a masternode key and obtained the Tx Id (1000 dash). I get the following message when after the command "masternode start-alias <alias>"

{
"alias": "mn1",
"result": "failed",
"errorMessage": "Sync in progress. Must wait until sync is complete to start Masternode"
}

I think the issue may be with the server IP address in the dash.conf and masternode.conf. Since I'm running regtest, I just my localhost address and a random port. I've tried 127.0.0.1 and just plain removing it; still get the same message. Any help would be appreciated.

Thanks,
Phillipe
That’s a common message you get when your local wallet has not fully updated before you issue the start command. Simply wait for the local wallet to fully sync and reissue the command.
 
Hello, thank you for material i used it and it worked brilliant.

I have 2 questions:

1) How an i set up 2 MN for 1 wallet?

in masternode.conf (for dash qt) i made settings like this

MN900 MN-ServerIP:9999 PrivateKey1 TransactionNumber1 0
MN901 MN-ServerIP:9999 PrivateKey2 TransactionNumber2 0

and dash.conf in remote server (MN server) looks like

#---
rpcuser=randomname
rpcpassword=randompassword
rpcallowip=127.0.0.1
#----
listen=1
server=1
daemon=1
maxconnections=24
#--------------------
masternode=1
masternodeprivkey=PrivateKey1
externalip=MN-ServerIP



#----
rpcuser=randomname
rpcpassword=randompassword
rpcallowip=127.0.0.1
#----
listen=1
server=1
daemon=1
maxconnections=24
#--------------------
masternode=1
masternodeprivkey=PrivateKey2
externalip=MN-ServerIP

but it doesnt worked. can someone help me?

and second question is:

what is status : Not capable masternode: Masternode in POSE_BAN state


thank you

Regarding question 1 : Do they have seperate IP Addresses ?

Regarding question 2 : Looks like something in your setup causes the network to ban your masternode(s).

Edit : never mind, i see you got your answers here : https://www.dash.org/forum/threads/2-masternodes-for-1-wallet.30437/
 
Last edited:
That’s a common message you get when your local wallet has not fully updated before you issue the start command. Simply wait for the local wallet to fully sync and reissue the command.

The synchronization is not progressing (stuck at 25% at the bottom of dash-qt). It may have to do with the fact there are no peers in -regtest. I'm thinking may just have to -testnet to for my testing. Thank you though!
 
The synchronization is not progressing (stuck at 25% at the bottom of dash-qt). It may have to do with the fact there are no peers in -regtest. I'm thinking may just have to -testnet to for my testing. Thank you though!
You're welcome. Good luck!
 
I’m sorry my guide was unable to meet your needs. It has, however, helped countless individuals with setting up their node, so someone is able to follow it! :) Do you have any specific critiques I could use to improve it?
Hello Tao,
I'm following your Tutorial right now - are you still working on that project?

Right now it's no problem to adapt your guide to 0.14.0.3 and hopefully also to MacOS-Dash-Wallet.

Do have any updated guide for 0.14.03 yet?
 
Great HowTo - I followed it and it worked very well.
But just one small obsticle:

The editor appears with the existing masternode configuration. Add or uncomment these lines in the file, replacing the key with your BLS private key generated above:

masternode=1
masternodeblsprivkey=24c1fa3c22c6ea6b1cc68a37be18acb51042b19465fe0a26301c8717bf939805
I used dashman and dash.conf said:

The editor appears with the existing masternode configuration. Add or uncomment these lines in the file, replacing the key with your BLS private key generated above:

#masternode=1
#masternodeprivkey=...

Just to be aware it's not enough to uncomment the lines ... you have also insert "bls" in "masternodeprivkey" to make ist "masternodeblsprivkey"

Such a stupid mistake by me took me a while to find it.
 
Just to be aware it's not enough to uncomment the lines ... you have also insert "bls" in "masternodeprivkey" to make ist "masternodeblsprivkey"

Such a stupid mistake by me took me a while to find it.

Yes, unfortunately dashman has not been updated for some time. We are working on new install guides using Docker. Note that it does say "Add or uncomment ..."
 
Anybody can told me, what is the mistake?
why when i type masternode genkey, the result as shown below.

upload_2019-12-23_9-59-12.png
 
Back
Top