SmartNodes Are Among Us and SmartCash Price Is Rising!

in #smartcash7 years ago (edited)

This is an exciting development in the SmartCash community. For more on what a SmartNode is, see this post last month from @cloudspyder. In short, they are servers set up to add useful features to the SmartCash network and those who run the servers get rewarded.

You can learn more about SmartNodes here: http://smartnodes.cc/

There are already 300 of them running, and it just launched: https://smartcash.bitcoiner.me/smartnodes/list/ (thanks again to @bitcoiner for building such helpful tools).

From what I understand, they don't start paying out until around January 29th (block 300000), which means you have some time to play around with this now. Personally, I think I'll wait until after the SmartRewards on the 25th (I don't want to lose ~6% by moving coins around into 10k groups per node). That will also give me time to know how many nodes will be up and running for a better view on the potential ROI. You may not want to wait too long though, because the sooner your server(s) is(are) set up, the higher ranking you'll have for the first reward distribution. Once your node is paid, it goes to the back of the line, from what I understand.

You can use this spreadsheet (make a copy) which was shared in the discord channel to play with the numbers and figure out if it's worth your time.

At first, I figured there's no real way to know what numbers to put in there to make any sense of it. Then I thought about other master node coins like Pivx and Dash to see if we could extrapolate something to work with.

Using data from masternodes.online:

  • PIVX currently has 2,094 master nodes at a cost of $121,675 each giving a reward of $576.3745 a month. 5.76% ROI.
  • DASH currently has 4,533 master nodes at a cost of $1,022,430 each giving a reward of $6,554.7987 a month. 7.80% ROI.

If we assume a $1 price of SmartCash and even a really high number of master nodes (say, 20,000), then we're still looking at over $500 a month, assuming the spreadsheet I linked to above is correct.

That's pretty amazing, especially because at that price a SmartNode would only cost $10k.

I know there are a lot of assumptions made here, so please, let me be clear, this is not investment advice. I'm just trying to make sense of things and look for opportunities. When I find them, I want to share them with you and hear what you think.

So... what do you think?

Here are the server specs needed to run a SmartNode:

  • 10K SMART per node
  • 20 GB disk space and 1GB RAM minimum
  • Static IPv4 address per node

I haven't set up a node yet, but if/when I do, I'll be using this setup guide, I'll be asking questions in the discord at discord.smartcash.cc, and I'll probably use Privex so I can pay for hosting using STEEM.

If you want to know more about SmartCash, check out my previous posts on it:


Luke Stokes is a father, husband, business owner, programmer, STEEM witness, and voluntaryist who wants to help create a world we all want to live in. Visit UnderstandingBlockchainFreedom.com

I'm a Witness! Please vote for @lukestokes.mhth

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Thanks for the mention!

Here's an updated version of the setup guide:
http://smartnodes.cc/files/SmartCash_SmartNode_Setup_Guide_v1.1.pdf

Excellent! Thank you. I'll update my post.

Hello Luke thank you for sharing smartcash info
I am holding over 1k of smart cash
Do you know if I need to have my wallet open to qualify for staking reward on 25th of each month?

No, you need to have it in your wallet. Not an exchange. As long as you hold for a whole month and don't spent anything out of an address which has 1,000 or more Smart, you'll get the reward automatically. Using the web wallet is an easy way to go.

so if the computer is Off for 3 months while im traveling and when I am back home , I turn it on I will see rewards for 3 months ?

Yes, it's not like a staking coin where your wallet has to be on. It's more like an air drop. The key is, you have to control the private key. It has to be your wallet, not an exchange.

Thank you very much @bitcoiner
for visiting my blog. help guidance for my writing fore the better. i highly appreciate for your attention.
stemeet has brought us to share different histories, cultures, traditions and environments. steemit has been worldwide in our minds to share. We each have different friends and family to know and share experiences. Different from different traditions. always looking from eye to eye. About what we do not see for an opportunity. I am also grateful for what has been built in Steemit for all of us. Opportunity to share what we love and learn new things and find interesting people. I hope here a lot of friends Greetings steemian all my new guidance

Resteemed. Yeah, I've pondered the whole masternode thing, but I know absolutely nothing about them or what to do. I will say that I am very happy with the movement of smartcash lately. Been a great ride and only getting started, imo.

I agree, it does seem like it's just getting started and the community and team are solid from what I've seen so far.

I have yet to run a masternode, but the Smartnode will be my first one! If in fact we can wait until the 29th then it make a ton of sense to wait until the snapshot on the 25th to get another round of SmartRewards. I guess then the next SmartReward payout won't be until March 25th since the February 25th payout will be missed since the transaction will occur after that!

I am curious to see how complicated it is to set up the masternode and how many masternodes one can realistically get set up. It seems each Smartnode would need its own dedicated IPV4 address.

This is one of my favorite coins on the market and it is pretty cool you were able to get in so early!! I hope there is a nice dip so others can back up the truck!

Indeed, it will also be my first master node and I'm excited to get the ball rolling.

With smart rewards to boot, holding this coin will be extremely valuable over the long term.

It has been on a tear! I saw it crossed $3 on CMC earlier.. Absolutely crazy!!

Man, SmartCash is really making great strides! Thanks for letting us know about it when it first started way back, Luke. This is looking like a really good investment. Cryptos that are more functional than flashy are what appeals to me. When all the hype is gone, the functionality will shine.

That's exactly right. Just as with the dot com bubble, we'll see real companies coming out of the space and those who can spot them early will do really well.

This is a great project which feels like a real community to me! I love the fact that they are making it available for everyone because of decent guides in different languages on their website, being active on social media, being a very friendly community on their chat, you can ask anything, ... Besides that, the smart rewards are amazing! Love it!!!

I agree, the Smart Rewards are great. I also really like the community and I think it brings home the point that the future will involve employees, customers, and owners all rolled into one due to tokenization.

Man I wish I had the capital to invest in some right now. I hold a small amount and just got my wallet today. I’d have been buying more the past few days but they have been closed on cryptopia. Been watching the price steadily rise for a few weeks now. Hope I can scoop up a bit more before the price goes up a ton!!!

Σ$$$ Tipped @dexter-k Σ25 SMART! Comment @smartbot help to claim. Currently the price of SmartCash in the market is $0.752 USD per SMART. Current value of the tip is $18.80 USD. To find out more about SmartCash, please visit https://smartcash.cc.

You can use the following commands:

  • balance - displays your current wallet balance
  • address- displays your deposit address
  • withdraw <amount> <address> - withdraws the amount of SMART to address
  • tip <usernamegt; <amount> - sends the amount of SMART to username
  • terms - displays terms and conditions for using @smartbot

You have Σ25 SMART (unconfirmed: Σ0 SMART).

Don't FOMO yourself. If you look at the prices next to the posts I did, it dropped down quite a bit. It's volatile, so be safe. Hopefully you can buy the dip (assuming there is one).

Wow thanks so much for the tip @lukestokes, much appreciated!! I am watching on Hitbtc for the dip now, wish I had signed up for them earlier, I have been buying Smart on Cryptopia but they have it in maintenance for the past few weeks and it is still not trading there. Good to know I can get it on Hitbtc though :)

Upvoted and Resteemed! What I love about Smart is its somewhat inversely correlated to the markets. Nearly every time the markets tank, Smart is stable or going up.

I wonder about that sometimes... is it just luck? Is it random? Do some whales just see the market going down and randomly pick a coin to stick with? I don't know.

Thanks for sharing.

I think a few things. 1st the Smart rewards keeps people from selling. At least it makes them think twice. Also, its so damn hard to buy it currently :-) with BTC fees being so high a just a few illiquid unknown exchanges.

Wow, I can't believe I can finally participate in a Masternode coin. Thanks again Luke for finding this gem!

Excellent! Once I get around to setting things up, we can compare notes on who you went with and how it's working out for you managing the server.

Thanks for sharing!

What an incredible day for smartcash!!!

This market is fucking exploding, and I have @lukestokes to thank for this tip yet again. You're the boss!

This price seems unreal to me. The exchange wallets are down so those who have Smart can't sell it. Be cautious. Moving this quick may not be a good thing for the project.

Aye, its Going to tumble down again, Probably below a dollar.

In which case, I'm going to buy some more on the dip

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