SmartNodes Are Among Us and SmartCash Price Is Rising!

in smartcash •  last year  (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

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  ·  last year (edited)

Thanks for the mention!

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

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Good comment @bitcoiner.

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

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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?

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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.

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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 ?

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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.

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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

  ·  last year (edited)

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.

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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!

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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.

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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.

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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!!!

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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!!!

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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.

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@smartbot help

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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
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@smartbot balance

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You have Σ25 SMART (unconfirmed: Σ0 SMART).

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@smartbot address

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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).

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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.

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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.

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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!

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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!

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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.

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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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Can you even count the ROI like this? I mean a lot of people got into the masternodes so soon that they can't even lose now.

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Can't really count ROI with anything in crypto until it's already in the bank and you're looking backwards, right? This is just my best guess, and it's still a wet finger in the air.

  ·  last year (edited)

@lukestokes - $500 per month on a $10K investment seems too good to be true at first but that is by real world standards. By crypto standards that you have quote (PIVX and DASH), your logic seems sound. I have downloaded the spreadsheet and will check it.
Thanks for this comprehensive guide including all links to useful tools as well as set up guides

Upvoted
Regards,

@vm2904

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Either way, it'll be interesting to see what happens. :)

Happy to see fellow Steemians supporting SmartCash! I'm about halfway to having enough coins far a SmartNode, and this will be my first masternode setup ever. I guess the only real way to learn is to try with money on the line :). A member of the SmartHive wrote a pretty detailed guide on the setup, so there is a lot to go on even for inexperienced users.

I'm still waiting for the exchanges to update their wallets though. Cryptopia processed a lot of withdraws on the old chain during the upgrade, so I have quite a few coins stuck in limbo until Cyptopia rebroadcasts them.

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Sorry to hear about your stuck coins. That's certainly a bummer. I hope they get that all resolved before the 25th so people can start saving things for February.

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Σ$$$ Tipped @crystalgeometry Σ25 SMART! Comment @smartbot help to claim. Currently the price of SmartCash in the market is $1.016 USD per SMART. Current value of the tip is $25.40 USD. To find out more about SmartCash, please visit https://smartcash.cc.

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@smartbot help

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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
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@smartbot withdraw 25 SMaad8r5qRu9ARTM89EENWdHn1yFRk6KoC

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@crystalgeometry: Σ24.99 SMART has been withdrawn from your account to SMaad8r5qRu9ARTM89EENWdHn1yFRk6KoC. You have been charged Σ0.01 SMART withdrawal fee. Transaction 53e70562aec4e66d5bf14740afe6e245a3fe6c7bef4da57f7d0ff02eba7e57f0 is now completed. To monitor the transaction status click HERE.

The fact that smart cash is so cheap relative to dash and pivx is the best part I think. Hopefully some people with less capital to invest will consider it since each node is only ~10k. Thanks for the tip I'll have to keep watching it!

Smartcash has all the elements that make a coin great....especially community. HODLing and mining now.

Do you know if the issues have been resolved on the Smartnode front? I want to buy more! Cryptopia still has a pause on trading.

Following and look forward to hearing more news!

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Yeah, I haven't heard anything yet. Having all the exchanges down is certainly a bummer. My hunch is the price will drop quite a bit once they open up again. Those who want to sell right now can't so that creates artificial supply problems.

Wooow man what a SmartCash journey you have here!! I think it is going a bit too fast today but who knows? and as you said 10k$ for a SmartNode with 500$ ROI/mo is really good (assuming calculations are correct).

very well job smartcash and smartnodes and beautifull phogography dear @lukestokes

Ha ha , I just put a reply to this post on one of your older posts that I was rereading.... too funny.

Haha, I was wondering if I could take some profits so set-up a hitBTC account only to see the wallets were down :(. Hopefully the price keeps going up.

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Yeah, all the exchanges have to update after their latest release, so that might take a while. I'm also curious if the price will fluctuate a lot once all the wallets are back online.

Thank you for sharing this piece of information, one of the coin i regret no buying on time is solaris. Because of the festive, it would have been a huge profit. I think i will have to look into this one.

I just randomly scrolled through all the crytocurrency price changes today and was quite surprised to see the massive appreciation of SmartCash today. I had never even heard of it before.

Upvoted and restemees. Thinking the same , waiting after the 25th to get the rewards and then ill TRY and set up node . I hope ill be able to. Good luck

I cant deny the 95.98% increase in smartcash is mindblowing and worth a minute to check. Its intriguing actually.

Don't laugh at me, please. I'm new to this stuff. What to do if you have more than 10K smartcoins and you don't know enough about computers?

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You do? Just do sole research on what you need to do or join the discord channel. There are many member there who will help you.

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I have some stuff here you may want to take a look at about securing your computer when dealing with cryptocurrency: http://understandingblockchainfreedom.com (specifically episode 3).

Just picked up some more 2 days ago! Love the info, thanks Luke!

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Nicely done!

Information is the key, thanks for the informations. And cool pictures of you by the way

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Thanks. :)

Good post! .. I will follow you follow me too and we help each other ... I would appreciate a vote in my last post thanks

https://steemit.com/openmic/@misc.jocs/my-most-appreciated-possession

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I would appreciate you not asking for votes in comments on my posts. Read the three posts I link to here for a better approach: #SteemitIsToMe: Relationships, Reputation, and Rewards.

Great article! Can I translate it into Russian?

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I guess...?

I am currently setting up my SmartNode:-)

thanks for sharing this post, with this post, I want to try it.

it was there few months back very cheap i knew about it but still didn't bought it silly me now it is all the way up

I opened a wallet but I can't get an address to transfer funds to!

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Is it an online wallet? If so you should see three wallets labelled: Spending, Smart Reward 1 and Smart Reward 2. If it's not, open an online wallet in the meantime, its pretty secure. And here is a 10 tip when you finally get that wallet up and running! ;-).

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Mine says "Smartcash Wallet" In the toolbar it says Overview- Send- Receive- Transactions etc.

For some reason Discord isn't letting me log in... it's telling me to claim my account then tells me my email is already registered. I'm not a computer genius- just an old man who grew up playing with sticks!

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Try a forgot password option. If your email is already registered, you may already have a discord account.

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I do have an account- when I try to get on it it tells me I have to reclaim my account. When I try to log in to do it, it tells me my email is already registered.

I gotta tell you the truth... in all of the months I've had discord, I've found them to be almost as useful as a one-legged man in an ass kicking contest!

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No only one... if you look at my other comment is says what I see.

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aviary-image-1515779649372.jpeg

Do you see something like this?

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  ·  last year (edited)

Nothing like that! I'm going to try downloading the paper wallet and see what happens. I did the 32 bit for Windows

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Ok; hope it works. ;-)

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No Joy! I get some wallet page that says it's 26 weeks behind

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Usage: tip <username> <amount>

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Σ$$$ Tipped @richq11 Σ10 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 $7.52 USD. To find out more about SmartCash, please visit https://smartcash.cc.

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@smartbot balance

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You have Σ893 SMART (unconfirmed: Σ0 SMART).

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Have you tried asking for support in the Discord? They are really quite helpful.

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Discord isn't letting me into my account.. see comment above!

smart cash making some history today

glad to be in on this!

smart cash now on to the dollar mark

wow it is the right time to grab some thanks for sharing this post but the price is on rise today

thank you for the terrific article on smartcash

@Upvote

Nice post...So Privex accepts STEEM? Cool

Thanks a lot for sharing this useful info..

very informative, thank you for sharing this

I just read about smartcash and I think the app is very useful I'll try to use that. And good luck

Nice post. I am happy I got mine a few weeks back mostly because the staking was so amazing. I will be holding these long term as there is a lot more to like about SmartCash. Great info thanks

Thanks for making me aware of this. Would check it out

thanks for the great article on smartcash

Is the requirement for 10K Smart to run a master node going to increase? Very excited about this one for 2018.

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I don't see why it would.

I would never dare to do these things on my own. I need someone next to me who say and now this and then that. :-) ohmy

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I wrote this as a Facebook post recently. Something to keep in mind:

‪We are conditioned by fear and loss aversion to avoid situations where we might make a mistake (i.e. learn). Many look to experts to guide their every move, failing to realize those people became experts through their own willingness to experience and learn from failure.‬

The next time you think you can't learn something, just try. Start small. Make mistakes. Learn. The best educators don't want to be your crutch, but they want to see you join them on a journey of discovery.

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I think I am doing well! I opened a wallet, I changed steem in another coin and managed to get it on my account, it worked! me totally happy. Me being scared of the pc is that I have too little knowledge about that, and English is also not my native language, that does make things scary, and you rather have someone next to you. In my eyes that is part of the journey, where one is a teacher of one, he maybe pupil in other cases?

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It may be a cultural thing, but if you are unable to leave and move forward without a teacher present, you may miss out on opportunities. We can all teach and learn, but I don't think someone necessarily has to be present.

Good job so far! That's definitely an accomplishment to be proud of.

  ·  last year (edited)

69 cents?! Well that became old news fast....

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Yeah, but the current price is artificial with the exchange wallets down. Once those who want to sell can, then we'll see a more realistic price.

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Good to know. I missed out on this one unfortunately

Steemet remains glorious

Hi I am following to u and your articles are very interesting good going best of luck to you. I am new to steemit follow me and upvote me.

I do not know much about bitcoin but I do not reduce my respect to say thank you for you already upvote me, hopefully you see me always in esteemit post and can go to success together .

Amazing post @lukestokes

Great project that will create great community.

  ·  last year (edited)

Excited about the smartnodes. This bodes well for the future of SmartCash. I'm seriously considering setting up a node. @ironshield

This one seems worth a look. I can't escape the feeling that I'm late to the party, though. Better late than never?

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Thinks are funky right now with exchanges not allow deposits or withdrawals so proceed with caution. I wonder what a correction will bring once things do open up.

Best your post
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