Finally reached my goal of getting a SMART NODE!
Today was an exciting day, I finally got my smart node set up! This was one of my cryptocurrency goals over the last few months and I have been slowly acquiring SMART CASH over the last couple months. The other day, when STEEM was up over $4, and Smart was sitting under $0.20 each I saw the opportunity to pick up the last 2000 SMART I needed, if you were watching my progress and last post here.
What is a SMART NODE
For those that may be less familiar with some of this stuff happening in the world of cryptocurrencies. I'll try to explain it. I'm still not really an expert myself.
Some currencies offer MASTER NODE options, what this means is once you hold a certain amount of those coins, you can set up a server and receive rewards. The part I don't really understand is what the server does, it must be something related to processing transactions for the block chain.
Here is the official definition:
SmartNodes are servers that run a SmartCash wallet and make decisions, such as locking transactions with InstantPay. SmartNodes are required to have 10,000 SMART collateral, a dedicated VPS (IPv4 address, 1GB RAM, 20GB drive) and be able to run 24 hours a day without a more than an hour of connection loss. SmartNodes get paid 10% of the block reward on every block, which is distributed to SmartNodes one at a time.
You can read more from there site here
Here is a screen shot of the SMART NODE reward calculator from there site
It did take a little bit of doing over the last 3 days to get it set up and figured out, and I will share that experience in the next few days
Lastly don't forget to check out @smartcash here on Steemit, for lots of great content and information.
Footer by @bearone
COngratulations ! I personally wanted to buy smart cash node when it was so cheep, but I have to admit I misjudged the project and was not sure of its potentials so I ended up have no smart cash at all right now (sobs)
Yeah, I think it's still pretty cheap, but I do understand it was much cheaper at one point as well.
Congrats I hope to get one too!
I wish the best to you with your endeavors. However, there are issues with the SmartNode system that have yet to be resolved over the past 3 months.
TDLR Summary:
There is an bug in SmartCash 1.1.1 code that has not been fixed for over 3 months
Someone is actively exploiting the bug to steal hundreds of thousands to millions of SmartCash from mining rewards.
SmartCash moderators censor and ban members that speak of the exploit.
You can read more here https://steemit.com/altcoin/@toon/beware-of-smartcash-major-smartnode-exploit-not-being-publicized-or-fixed
Yikes.
Yikes indeed. I am hoping that this is resolved as soon as possible and that SmartCash becomes what the community envisions.
@phelimint Congratulations on setting up you #smartnode. Hurray!
How is the farm going?
Still more of a garden and mini-orchard then farm, but big dreams. Maybe the smart node can make it a reality!
@phelimint #smartnodes may give you the funds but with farming you have to put in the work. Rather you than me. I do plan to start a small garden may be aquaponic just for vegetable initially.
Congrats ! I have a few of them and they are great! Nice work..
A few of them? Well done. I'm just happy to get my first. We'll see how it goes but if the price stays this low much longer I may be tempted to get another.
Don't hesitate to stack em up! I have a good friend who is VERY knowledgeable with smartnodes. Helped me greatly.. Let me know if you need anything. This fork comming up introducing the new privacy coin could be big. .
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MEEP! MEEP!
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Thank you for your continued support of SteemSilverGold
@smartbot tip @phelimint 30
Σ$$$ Tipped @phelimint
Σ30 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.154 USDperSMART. Current value of the tip is$4.62 USD. To find out more about SmartCash, please visit https://smartcash.cc.Congrats! thats whats up!
I'm feeling inspired. I just picked some up myself not too long ago, but hopefully I can get enough for a node too before its too late...