Smartcash Masternode Groupbuy idea? Plus SSG group buy staking update
Hello crypto stackers. Our Steemsilvergold crypto smartcash (smart) group buy has paid out it's first staking reward on the 25th a few days back. I had to re sync the wallet which took around 2 days as i have not done it in a few weeks but its all upto the date now and i can confirm that it works as it says on the tin. Please see the screenshot below. We wanted a staking coin to add to the growing steemsilvergold crypto group portfolio and we have it. Since we bought our smartcash a few months back, the price had dropped off around 40% but the whole market has been heading down. What i am watching is that it has dropped around 30 places on coinmarketcap to 145th. I do not think we ever expect this coin to be a top 50, never mind top 20 marketcap coin. It has a very good staking rewards and it will grow as planned. Thank you to the members that were involved with that buy.
We have earned 52 smartcash from our first month's rewards on the 1899 smartcash that we bought
SMARTNODE?
Ok, i will give this a go and see if there is any interest
Currently smartcash is priced at $0.081 each meaning a smartnode can be got for the bargain price of $800ish. We already have 2000 smartcash from the steemsilvergold and i do not think any of those guys would have a problem adding them toward a smartnode to double the rewards. To do this, we would need to be buying 8000 smartcash and see if it is worth it.
A hop, skip and jump over to masternode.online
I have them ranked in order of total marketcap and is ranked 6th highest. If you scan your eye over the last row you will see that smartcash is the cheapest masternode by a mile. The 65% RIO is very competitive making it look like a good buy.
Here are a few income numbers
The screenshots below are taken from the masternode.online website and show the rewards paid out based on 10,000 smartcash coins. Staking rewards based on our payment is 2.5% per month. Masternode rewards are 0.536% plus staking rewards on top totaling 7.86% a month. That's 3 times more than staking alone. I might be wrong but i think if holding a masternode, you can claim staking rewards also.
Even if the price was to be sitting 20% lower this time next year, we would still be winning off of the back of the 65% ROI. If it goes up, JACKPOT
How could we do this?
It is a big ask and i think it is boarder line possible to pull off. We would need to buy 8000 smartcash to make this happen. In short that translates in to around 290 Steem at current prices. Our last group buy was for over 230 steem so i know it is doable but the SBD to Steem ratio is screwed and alot of members wallets are lighter as a result. If we could pull it off, i would need to buy a cheap laptop to run the node from as it requires a 24/7 connection and a static IP address. But we need to see if there would be any interest for this first before we start to think about that stuff.
I could run it like i would any other group crypto buy and sell it off it batches. I normally always keep the batch amount to cost under 2 steem but as this is a masternode, it would take to many people and would be a nightmare to manage and split profits when the time comes. As 20% of the coins are already there, we would need to buy the other 80% which could be split into 40 batches of 2% each. Each 2% batch would consist of 200 smartcash and you would earn 2% of staking and masternode profits for each batch you buy. At todays prices, x1 2% batch of 200 smartcash would cost around 7.2 steem.
What do you think?
Would anyone be interested? and this is open to all Steemit members. Anyways, its just an idea and thought i would put it out there. It is something i would like to do solo but im need to tend to my silver stack and the wife is in summer holiday saving mode. I have 250 smartfrom the group buy and would buy a min of 4 batches to get me over 10%. I just like the idea of owning and running a masternode for the experience and learning required to do so. So here, if you would be interested in being part and having some ownership of a masternode, hit me up in the comments and i will get a better idea if anyone would be interested.
This is not part of the steemsilvergold crypto group buy and is open to all users. The steemsilvergold group buy will continue as normal with the buying post released on the 13th and payment/buying post made on the 20th.
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But are you aware that smartcash has a serious bug in its smartnode system. This bug allows the exploiter to steal lots of smartnode payouts each day. Suppose you own a smartnode, then a normal user would have to wait almost 20 days to become eligible to receive their payout, then after that initial waiting days the node gets a payout after every 10 - 12 days, sometimes if the node is lucky then it might get 2 payouts. But the hostile node that use the unknown bug gets 2 to 3 payouts on daily basis. Just imagine honest smartnodes have to wait 10 - 12 days for single payout while these hostile node are stealing 2 to 3 payouts per day. As far as I know there are hundreds of such hostile node. And the most funny part about this is the developers very well know about this situation and they are keeping their hands tight. The devs promised to solve the problem by releasing smartcash v1.2 within 2 months but in vain. Its been 5+ months already and the version 1.2 is nowhere to be seen. Its very fishy. Either the developers don't know how to solve this issue or they are doing this on purpose. So I'd say stay away from smartcash for now.
Sounds very interesting! I would be down for it!
that's cool, you are our +3
Let me know what you need if enough others are in! I can either donate smart or steem!
I have set up and manage a smartnode currently. It costs $5 a month to run the server which isn’t bad at all! Plus we will be getting smart rewards in addition to the mining rewards
That great news about the $5 per month server rental. I will add you onto the list as our +4
Thanks man
This is a great idea for your community. Spread the risk and maximise your rewards payouts.
Looking forward to seeing how it all unfolds for you guys.
I’m a big fan of smartcash and have a node already, you’ll just want to rent a server it’s around $5/month so you won’t need a new computer. Otherwise it’s not that bad to set up.
I’m likely already overexposed to SMART so I won’t be participating in your buy but let me know if you need any help or advice with the node. I have a few posts all about it as well.
Thanks for the update @silverstackeruk! I am down for it if others are.
Also, I have been meaning to DM you. Recently, I have been reading about Smartcash doing an airdrop for all Smartcash holders. From what I understand they are creating a new sister coin called Bitcoin Confidential and are doing the airdrop at a rate of 10:1. If true it could make this an even more attractive opportunity.
Wow, i did not no about this airdrop. I will need to check that out and see if it looks decent. I notice airdrops are a pain as you need a special wallet that i never straight forward and they end up worthless but i do like free stuff, haha
And thank you for the support, you are +1 👍
Thank you for your continued support of SteemSilverGold
You know I'm in.... 😁
I'd definitely be interested, I've been meaning to get in more on smartcash... It does seem to have a promising future, and a group by would be fun :)