As official Telos Explorer is currently not working, it is good that Discord username GünterFaltin announced the availability of unofficial Teloscoin Explorer available at the following URL:
And he also made an unofficial Bitcoin Subsidium (XBTX) explorer which is available at:
Thank you very much GünterFaltin!
Annual Telos halving has happened for this year 2022 and now new Teloscoins per block have dropped from 17.5 to 8.75 only.
Halving actually happened already 2 days ago, but I waited to make sure it really did since basically Halving shouldn’t happen until June/July. However, since Halving is not based on time, but on block number, it isn’t an exact science, and while the intention has been to have halving happen once a year, blocks might form faster or slower than intended, and in Teloscoin’s case it seems to be happening about 10 percent faster than intended, since last year the halving happened, if I recall right, around June instead of July, and this year instead of basically expected June, it now happened at May.
I guess that next year we can expect halving to happen around the change of March and April.
You might have noticed that one of the Pools in Bitdorado Turkey is Klimatas (KTS) coin.
Well, about two weeks ago this Coin has been taken over by Transcendence, or, to be more precise, by Pascal and BitCoin_Bond_007, meaning in practice it will be part of Transcendence now, although technically perhaps not exactly.
Original Klimatas coin, as the name already suggested, had to do with environmental values, mainly focusing on sustainable development, and concretely they for example had this idea about a Cryptoforest, which meant that through blockchain technology, you were able to plant real trees.
Drawing connections between dots, their whitepaper mentioning it took a year for them to get EU regulations done and their final message to their community after the change in leadership, it gives me a picture that Pascal’s way of preparing for all the future EU regulations first as a foundation have been the right choice since seems like trying to figure out how to get those regulations in place in practice was what pretty much killed Klimatas old leadership. that instead of being able to focus on getting more trees to the world, they had to focus on how to get those regulations in place for those things you make from trees that tend to make people happy when they get and use them.
New Klimatas will likely change its focus a bit. It will still be a do-good coin, but instead of focusing on planting new trees and stuff, Klimatas will likely take its focus more towards kids and young people, this according to a discussion I had with BitCoin_Bond_007.
The integration to the Transcendence world has basically already started even before the takeover since as mentioned at beginning of this news item, you have been able to join Klimatas Pool through Bitdorado Turkey for some time already.
In addition, after Telos upcoming change to full POS, blueboxes won’t be able to run Telos master nodes anymore, since there won’t be any master nodes in Telos anymore, instead, blueboxes are planned to start running Klimatas master nodes. Hence, if you own one of the blueboxes, you are already without doing anything getting yourself involved with Klimatas coin.
And Klimatas (KTS) coin will also be accepted as a payment option when buying a bluebox.
According to BitCoin_Bond_007, There are plans to integrate KTS in the future for even more to the Transcendence ecosystem, but right now this is where it starts from.
A week ago votings about some of the Telos fundamentals ended and we now have a full list of Telos version 4 fundamentals that based upon a Twitter comment should come in effect at some point in December.
As far as I can see, voting results stayed, at least seemingly, exactly the same as they were when I wrote the news item about the votings.
This means that while the option of having only 300K collaterals on Master Nodes was a clear winner, that didn’t really matter since another voting result about POS/MN split was that Telos will move to full POS which means that there won’t be any Master Nodes any more, and hence no collateral for them either.
Catching up on the old news a bit.
Already a month ago a vote about adding a Lottery Block to Teloscoin passed with a tight 2 vote difference, that was: 2 votes against 0.
Since this change requires making a fork, and making a fork is no small task, there are now a couple of other votes going on right now to do some more changes at the same time as adding the Lottery Block.
As “Lottery Block”-voting passed (haven’t told that to you yet), while doing the change to reflect the addition of a monthly Lottery Block, why not vote about other Telos Fundamentals too to see if some more changes should be done at the same time, especially when considering that the latest halving came by surprise and hence no voting about fundamentals were done.
Dashboard therefore now has two votings:
One about POS/MN split, and another about The Master Node collaterals.
Masternode Collateral options are following:
Right now the option 5 is winning with 767 votes, and the only other option that seems to be having votes is option number 4. However, due to how the dashboard displays those votes, it is difficult to say how many votes number 4 has, maybe 50, so well behind option number 5.
This Masternode Collateral voting however might not have any relevance in the end, since the other voting is about the split between POS and MN.
POS/MN split options are following:
Option number 5 means there will not be any Masternodes anymore, but only Proof of Stake, which by other words mean wallet staking, and right now it looks like Option number 5 is winning by slide, for option number 5 currently has a whopping 120 105 votes for it and due to how dashboard displays votes, I can’t really see if any of the other options have any votes or just some compared to this option.
What do these changes mean in practice?
well, Masternode collaterals give a different kinds of options. Like currently as we have had 100k – 10M nodes, it means that entry to master nodes is a bit expensive compared to 1K nodes, and such high options like 10M seem to have also contributed to having perhaps even too few nodes since the network has had problems every now and then.
Few nodes however is not automatically a problem.
having only for example 100K nodes, would increase the number of nodes, and keep things simple, since each node is always just that 100K, and also theoretically increase network stability, however, in practice it also tends to mean that people who want to run 10M worth of nodes (that’s hundred 100K nodes) might look at cheapest possible options, which in practice results in bad nodes, and bad nodes result into a bad network.
When it comes to POS / MN split, this naturally affects the appeal of running nodes. Less for MN, less appealing it is to run one, which naturally affects the number of nodes.
However, especially since now the 100 POS option is most voted, which I personally hope will win, I will point some pros and cons about that.
One bad thing is that currently Blueboxes are at least theoretically running a Telos master node. With 100 POS, they might not be doing so anymore. So those rewards might be gone for the bluebox owners, although there isn’t really any reason why blueboxes couldn’t change into running 24/7 wallets instead to support the network, except as far as I have understood, blueboxes are not running master nodes currently, but owners have anyway been paid the amount of Telos they would have received if 100K masternodes had been run on them.
Another bad thing is that Telos will lose some visibility, for example places like masternodestats.info list master nodes and their profits, but if Telos moves to fully POS, will masternodestats.info update its system to also show full POS Telos, or simply remove it from the list?
While masternodestats.info, I hope, will update POS Telos to its list, many other places might not.
To me, good things however outweigh those bad things like possibly losing my Bluebox Telos income.
For one thing is that POS is very simple. You just keep your wallet open and Telos inside it and you can get more. This is very beginner-friendly compared to running master nodes where just setting up one takes a lot of know-how, and on top of that if you don’t know what you are doing you might end up messing the whole Network, like happened with Telos 1 when we had over 10 000 Master Nodes in the network and many of them were run by noobs or people who didn’t care but just tried to squeeze every penny out of it with the cost of network stability.
This beginner friendliness might well attract some new people into Telosland since you buy some amount of coins and they start getting more very easy.
Another problem solved is that Teloscoins codebase is based upon PivX, and as far as I have understood, there seem to be lots of bugs in PivX code that haven’t really been fixed by most of the PivX based coins. And to my understanding many of these bugs have to do specifically with Master Nodes.
One exploit bug was actually tried to be fixed in Teloscoin once, but since not enough master node owners started running the new fork, the new fork couldn’t get off, and hence the fix never happened.
Which also gives one more reason to go to full POS. Who says we have enough master node owners who care to update to the next fix fork either?
Of course this doesn’t mean that wallet users will do any better, but at least it is easier to just update your wallet and start it, than setting up an updated master node. So my guess is getting new forks with changes in effect will be easier with full POS, and we already know that at least master node owners failed us once.
If you are not happy with how voting is going on currently, or if you wish to make sure it goes as it now looks like, now is the time to go to your Dashboard to vote on the options.
You have time to vote until 5 pm (UTC) on the 29th of October, which is roughly one week from now, and each vote costs 1 Telos, and you can cast as many votes as you like to the options you like.
edit 25.10.2021:
According to the username halalsolutions message on bitcointalk thread “old Transcendence ANN”, it seems my understanding of Blueboxes mostly not running Telos master nodes anymore was confirmed.
However, it would also seem that my understanding of the basis of today’s bluebox payments is wrong.
As said in the article, I thought the basis on payments was on “virtual” Telos master nodes, but appears, according to halalsolutions message, that the basis has been in some sort of storage renting system, probably something similar, if not the same, to what Project Alexandria is supposed to have in Blueboxes.
When in the article I said that full POS could remove bluebox income, halalsolutions seems to think it could rather triple the bluebox income since according to him, bluebox rental income is based upon the collateral represented by blueboxes, and full POS would mean more income since blueboxes represent most of the collateral. I don’t know if halalsolutions is right, but my guess is that halalsolutions is better aware of the system than I am.
I am no expert on Pads, hence I am not even going to try to give you detailed info on whether this is better/worse than Kindle, Ipad, or any of the less than 50 Euro pads from markets.
I can just suppose that this is made to last better than those cheap Pads, and probably also has more power, for since part of the idea is to run Master Node in this, and it should be even suitable for mining – I suppose at the same time, then it can’t be ultimately unpowerful to be able to do so like the cheap market Pads to my knowledge are.
Gaia CryptoPAD has been a long way coming, already mentioned in the Telos discord channel in 2019, and now is finally here in that you can start buying them and deliveries start already roughly a month later, estimation being at the end of this month.
What Gaia CryptoPAD offers compared to other Pads is that it is aimed at Crypto stuff. Hence it will be suitable for running master nodes, as well as all Transcendence stuff, like keeping Dashboard open for 24/7 and even kept beside your bedside turned on to show what is happening in dashboard continuously, which is actually the reason why Dashboard was designed with its Orange color theme since it has been noticed that orange color display doesn’t bother the sleep the same as for example blue colors would.
For the first 100 CryptoPAD orders, there is some special included:
First is the 100k Telos coins that you can use to set up your master node to run with your CryptoPAD.
Another bonus is that first 100 CryptoPADs will also include a random standard card deck for Cryptomages.
How much worth is this standard Cryptomages deck is difficult to say since this is the first time I hear it being announced that this standard deck can be bought at all.
Naturally, the idea would be that when you buy CryptoPAD you would eventually make a profit – two different ways this time. If the price of Telos jumps back to 1 cent for example, you would already be on the winning side with the included Telos coins. Although you could argue that for the price of CryptoPAD you could already at current price buy more than 200k Telos Coins, wait for the 1 cent price, sell 100k away, and you would have more than the cost of CryptoPAD in Euros in your hand, and in addition, have the 100K still left for the CryptoPAD, making you be in an even better position than by directly buying CryptoPAD you had been.
But mystery is still if the value of those Cryptomages card deck is worth how much now and in the future, and will they even be available through any other method than through this.
To see more about technical details about the device, check these pictures about it and also the selling pages, notice also the docking deck in the article’s main picture which is optional to buy.
Or, you could also use it as your Point-of-Sale device which would accept both Crypto and FIAT payments, so when compared that at least here you need to pay several tens of euros a month from a card reader machine, and this is just a one-time payment, it could well be worth as an alternative or additional device to your card readers for your business, especially to prepare for the Crypto payments future.
The price of Gaia CryptoPAD depends upon where you buy it from. Roughly price is somewhat shy of 1 000 Euros when taxes are included in the price. If ordering to outside of the EU, you could get it even as low as only 750 Euros the cheapest version when taxes are not included. The optional Docking station will cost roughly 100 Euros more with taxes included.
Currently there should be three places where you can order them from, although one of the places I couldn’t confirm to be actually selling them.
Halal Solutions sells Gaia CryptoPAD for 899 and 999 Euros (with dock), probably excluding Taxes and from Halal Solutions you can only buy with FIAT money.
To buy with Crypto Currencies, you can turn towards Blueboxing.net, which is selling Gaia CryptoPAD for 755,46 and 839,50 Euros (with dock), excluding taxes.
The third place to buy, probably for Germans only would be Peerschweinchen.de, but at least when I checked its shop, I couldn’t find Gaia CryptoPAD from there, so what is the price, or is it even available, I cant confirm, I can just say that Halal Solutions sale page mentions Peerschweinchen as one of the places to buy Gaia CryptoPAD with Cryptocurrencies.
Telos R, first of all, is confusingly named. It will not replace our current TELOS but is another coin that in its use case has only very little to do with the original Telos and hence won’t really affect the old TELOS in a negative way.
While Total amount of TELOS R will be a fixed amount, the total amount of Telos R is not yet set, but it will depend upon amount of TELOS used to swap for it.
The thing is that the current plan is that when the prelaunch, or whatever we should call it in this case, starts, then it will be possible to switch TELOS coins to TELOS R coins with 1:1 ratio.
What is interesting in this is that these TELOS coins swapped to TELOS R coins will go out of circulation. Meaning that the TELOS coins left on people’s wallets will basically be more valuable as there are fewer TELOS coins in the market left.
After these three months is over these two coins will separate their paths, and after that you can buy TELOS R coins against TELOS coins through exchanges, just like you would buy any other coins in exchanges, meaning that instead of a fixed price the market sets the value, and in addition, these TELOS coins won’t go out of circulation anymore like the TELOS coins that will be used to buy TELOS R in the first three months will do.
WHAT IS THE USE OF TELOS R?
TELOS R will be DynaNETs reward token for peers, but to understand what that means, I am now going to explain the DynaNET as much as I have understood about it so far, for partially I haven’t quite figured out its usage possibilities.
DynaNET will be a DEX system consisting of 21 Trusted nodes, and unlimited amount of Peers.
These trusted nodes mean they are master nodes, but instead of giving a chance for anyone to put up one, there will only be 21 of these in total, and the ones allowed to run them will be handpicked.
The idea with this is that instead of ending up to Telos version 1 situation where we had over 10 000 Master Nodes, and most of them sucked and therefore the whole network was stuck, by giving a chance to only 21 Master Nodes to be run will give incentive for those running them be folks who actually know what they are doing and who are also willing to put money into running their master nodes properly since rewards will be pretty good for them as instead of over 10 000 master nodes sharing the pot, there will only be 21 master nodes sharing the pot.
And this all should result in a good and nicely working network which should require only very little maintenance from Pascal’s side.
The purpose of these Master Nodes is to be running something called VMS which Pascal prefers to call Bubbles for each supported chain (This could be BTC, ETH, TELOS, PIVX, etc.), and the catch for someone wanting to run one of these is that it provides DEX API for its owners, making it possible for them to build their own DEX platform or APP powered by DEX (I admit, I am not sure what exactly that means), and, I guess most important of all, master node owner will receive 1/21 of all fees from transactions, withdrawals from DEX, and trading.
THAT WAS MASTER NODES, BUT WHAT ABOUT THOSE PEERS?
Now notice how I said that TELOS R is a reward token for PEERS. This means (If I understood right) that those running Master Nodes are not getting them.
What PEER means, is Transcendence Dashboard.
Yes, all the people who are running their Transcendence Dashboards, meaning they keep it open and running (and synced I suppose), will get some TELOS R rewards thanks to keeping their Dashboard open and having copies of blockchains in their computers.
These rewards are 1/10th of all the rewards for these 21 master nodes. So these Master nodes are actually not getting 1/21th of all rewards in practice, since they need to pay out 1/10th of them to PEERS.
The interesting part in this payment to PEERs is that these master nodes will pay them with TELOS R. That if you are running your Transcendence Dashboard, you will be receiving TELOS R coins as a reward.
What makes this interesting is that since Master Nodes themselves are not getting TELOS R coins, this means they have to buy them from the market first.
And that means that as long as people keep trading in DEX, there will constantly be an automatic buyer for TELOS R coins making TELOS R have a constant buy force.
This then means that if no one is willing to sell their TELOS R coins for cheap, then that automatic buyer is forced to buy them for an expensive price.
If no one is willing to sell their TELOS R coins for less than a million a piece, then this automatic master node buyer will buy that TELOS R for that price, since it has to get that, for example, 0.005 pieces of a coin to be able to pay it to PEERS (Dashboard users).
And this is what makes TELOS R very interesting. As long as the DEX works out, TELOS Rs value can then be solely decided by sellers as long as sellers don’t start competing against each other.
For normally if you set the price too high, buyers are not interested and refuse to buy, but in this case master nodes automatic buyer is forced to use a certain amount of money to buy TELOS R, regardless of what the price is. Making TELOS R the ultimate Hodler coin.
Because TELOS Rs use case is limited to just this, it will naturally not affect TELOS much in a negative sense. It will not compete against TELOS coin, and for example, if you wish to gain better payment levels in Bitdorado Coin & Grow pools, you still need to use TELOS coins to achieve that since TELOS R will be useless for that purpose.
Now we just wait until Pascal announces that TELOS coins can be swapped against TELOS R coins. until that, better scrape those remaining Telos coins on sale in exchanges.
edit 7th of Aug 2021:
The plan about the Swap ratio has changed. The current plan is that the Swap ratio will be 2 Million Telos : 1 Telos R
As mentioned in previous article, there is one more fork happening to TELOS in 2020 still, and this is also giving a chance to change TELOS fundamentals.
After weekend worth of discussion, or mainly lack of it, there is now vote going on about POS/MN split, that you too can participate.
As already mentioned before, discussion/vote is happening at Community Discord channel where you can now vote by picking your letter of choice under the announcement (see the picture below).
Collateral change is currently not happening and stays as it is, only thing that is going to change, unless discussions changes, would be the mentioned POS/MN reward split.
It wasn’t said when this voting will end, but I guess, soon. After all, there isn’t much of this year left anymore.
So by guess I would say you should rather vote instantly rather than later. I wouldn’t be surprised if by end of coming weekend, or even sooner, it would be too late to vote anymore.
Pascal have announced we are going to be getting one more Telos fork by end of this year still. Why exactly haven’t been told, but my guess is because there seems to be one exploit in current fork that have been taken advantage of.
You might want me to tell you what it is, but actually I am not technical enough to know it exactly. Hence I don’t even try, besides, less people know about it the better.
Now due to this fork going to be done, it also gives us a chance to change some of the Telos fundamentals, and Pascal is already suggesting changing Masternode Tiers from current 100k/300k/1M/3M/10M to 30k/100K/300K/1M/3M.
Due to this fork happening so soon in future, it is unlikely that there will come actual voting about any of the changes this time, but Pascal have informed people to come and talk to Community Discord Channel about changes if they wish to suggest something or give their opinion about possible changes.
For over a month already, there has been a Teloscoin Masternode Installation guide available at Teloscoin Forum.
If you are planning on setting up one and need some guide, then check from there.
This guide however only gives you instructions on how to set it up, and nothing more, and since there been quite a lot of following questions in the Discord Channel, I am going to add a bit of a troubleshooting guide in here:
Why isn’t my node giving me rewards?
is often asked in Discord channel, and reasons can be many, but here are some of them.
It might take a long time before you receive your first reward, especially if you are setting up a 100k node.
The more master nodes there are, the longer it takes for the first reward, or even the next reward to come.
Or to be more precise, more Telos Coins are attached to Master Nodes, longer it takes, meaning that one master node with 1 Million collateral, is the same as there existing 10 Master nodes with 100k Collateral.
And in Telos there is quite a lot of coins attached to Master Nodes, so rewards are slow.
To Check the current average times etc. you can check statistics from masternodestats.info
Another reason why you are not receiving rewards is since your node is one way or other not working properly.
There are loads of people who try to set up their master nodes to some low-cost minimum performance VPS, but you need to understand that if your server doesn’t meet the requirements, they might appear to be functioning normally, but not receive any rewards.
Thing is, there are so many reasons why this might happen, and there are even scenarios where a perfectly fine working node might not receive any rewards.
You might be using too little RAM or virtual RAM, which results in your node being a bit too slow.
Thing is, when rewards are distributed, it is done through consensus between nodes.
Idea is that each node will contact other nodes and say to them “Hey, how about me win the reward this round” and then these nodes continue contacting other nodes telling “Hey, node X suggested himself to be the winner, okay for you too?”, but then at some point there comes a situation where the other node answers “Sorry, I am already planning on giving my vote to Trump” and then the Node X loses.
Figuratively speaking the idea is that you start calling with a phone to your friends and speaking them through the phone to vote for you, and if you speak slow, your talk stutters, and you are using old-style phones where it takes longer to dial, then the guy who speaks fast and perfect and pushes only one button to call his friends, is able to get more people to his side before you are, and hence you keep losing the vote all the time.
This is exactly what can happen to your node. So while everything looks like they are functioning normally, you are not getting rewards, since your node is too slow to ever win the consensus on its side.
A slightly similar situation can happen with a perfectly fine working master node too, for thing is, all nodes have this independent auto banning system. Idea is that if some node tries to contact your node, and the connection isn’t very good, by other words slow replies, then your node will automatically ban this node leaving space for some better and faster node to connect to it since connection spots are limited.
While your node is working perfectly fine, if it however tries to reach to a node on other side of the globe, it is likely that the connection is slow and bad, and to keep connection good and faster, it will automatically ban connections from this node, so closer, better-connected nodes can connect to it and network stay fast.
So basically even if your node is working perfectly fine, but it happens to be in such a spot that connections to every other node are simply bad, as in too far away, then it will get banned by all those others until there comes closer nodes with better connections nearby.
In addition to these, you could also be getting rewards too often, which indicates your node might have either forked itself away, or it might have connected with nodes that have forked away.
To rule this possibility out, you need to check your latest transaction HASH from your wallet and compare it with Telos Explorer. The address in this article is the one that was in the Master node guide, so if it is not working, keep checking from the Teloscoin forum for a new one’s address.
Notice when comparing the HASH, that Explorer might not be showing the newest block yet. At least some Explorers have been waiting for blocks to verify for a certain amount of times before actually displaying them, resulting in explorer showing for example 50 blocks behind, meaning that when you go and check your HASH, and you don’t find it, it doesn’t mean you are at wrong fork yet, it might just mean that Explorer isn’t showing that new blocks yet. Hence, either wait or compare some older blocks HASH.
Also, you can check the Block number and compare what is explorers’ newest block number to see if Explorer is behind in its showing or not.
Just today it was announced in the Discord channel that there is now a Master Node competition going on for the next 10 days.
The competition idea is to get Telos nodes to spread all around the world to have a more stable network.
To achieve this, or to at least find out the current situation, anyone with a Telos node can now win 1000 Telos, as long as it is located in a country that hasn’t been listed as a winner yet, excluding Germany, and as long as we are talking of a VPS or own server, so that excludes Blueboxes out of the competition as well.
There is one winner per country, but the same person can win a prize from several countries if he is the first one to tell that he has a node running on a country that has not been claimed yet.
However, it is not enough to just say that you have a node in some country but you need to prove it, and in addition, this node must have been running for at least 7 days.
However, since this is a 10-day long competition, it means that you could actually set up your node to one such country that has not been claimed yet and then 7 days later claim that prize, supposing of course someone else does not do that before you.
To prove that your node has been running for 7 days, it has to be seeable through https://masternodes.online/ or https://explorer.teloscoin.org/ or https://masternodestats.info/
And to claim for a win, you need to do that in the Community Discord I suppose, or at least that is where the first ones have done so.
At the time of writing this, which is roughly 1 hour after the competition was announced, 5 countries have been claimed so far: the USA, Canada, France, Finland, Poland.
Since this been coming up a lot in Discord lately, I decided to make a news article about this to save some time from MODs, so if you are new to Telos, and planning on putting up one of those low, for example 1K master nodes, read this first to understand why this is a bad idea.
First of all, you might have check from one of the masternodes statistics places and seen how Telos make 50 percent ROI a year, which basically is true, but what these masternode services leave out from their ROI calculations is that they assume your node is running already and getting rewards.
When you first set up your node, it will take some time for your node to network with other nodes and actually get the first reward. After you get the first reward, things get normal.
How long it takes to get the reward depends not only on amount of nodes, with more nodes in network, longer it takes to get the first reward, but it also matters how many coins are locked into masternodes in total in network.
Since in Telos we have 5 different kinds of nodes, 1k, 3k, 10k, 30k, 100k, the amount of locked coins plays a bigger role than the amount of nodes.
As a comparison, if there is only one 1k node in the whole network before you set up your 1k node, you will get your rewards very quickly.
But if instead of 1k node, there is just one 100k node in the network before you set your 1k node up, this will be much slower compared to situation where the before existing node is only 1k node.
Another thing to take into consideration, and I am not sure how exactly this one works, but if you set up 1k node today, you might get first reward for example a month later. however, when next day someone sets up 100k nodes, for some reason your 1k nodes first reward will get delayed to longer, which could mean that you would for example get first reward 1 month and 1 day later, which is no big deal, except, there will keep coming more 100k masternodes while you are waiting for your first reward, and all those new 100k masternodes pushes your first reward by a day more.
In reality, one 100k node won’t push your nodes first reward 1 day forward, but less, but I was just using this 1 day as an easy to understand example.
FIRST TIME REWARD AND MANDATORY FORK IN JULY
In July there will happen so called Mandatory fork which was voted in governance.rocks.
I will get briefly to voting later, but you can read more from this Article about governance.rocks Telos fundamentals voting results
To see how long it takes to get regular and first time rewards for any of the Telos nodes, the most trusty place for this is masternodestats.info
As of the time of writing this article, normal reward time for a 1k node is 66 days.
Since first time reward is in normal case something between regular reward time to 3 times that time, it means if you are very lucky, you will get first reward after 66 days, or if you are unlucky, only after 199 days.
And this isnt taking into account that new 3k-100k nodes will push both these timetables even further.
Since mandatory fork is only roughly 90 days away and mandatory fork means that all the current nodes become useless and need to be set up again, this means that it is very likely that your 1k node will never receive a single reward (unless you are on the very lucky side) since at the time it would yield you the first reward, the mandatory fork will have already happened.
BUT I JUST WANT TO SET UP A NODE TO TRY IT OUT
While this is understandable, this just wont work.
The only way for you to know if your node is set up and working right, is by getting a reward from it.
Since it is highly unlikely you will get any reward before the mandatory fork happens, you will never know if you actually set it up right, making your test useless.
WELL THEN I WAIT UNTIL MANDATORY FORK AND TEST THEN WITH 1K NODE SINCE I JUST WANT TO TRY THIS OUT WITH SMALL MONEY FIRST
That wont work either. It was voted that new master node levels will be 100k/300k/1kk/3kk/10kk
therefore minimum Telos node will be 100k node after the mandatory vote.
Personally I would have liked there having been an option for 1k nodes too, but voting just didn’t go that way even I had wanted it to go.
WELL IF I CANT TRY IT WITH SMALL MONEY, THEN I DONT WANT TO TRY IT AT ALL
First of all, it isn’t unusual for a successful coins master node prices to be high. Just look at DASH. DASH might require only 1k coins locked to its master node, but you just look at the price of one DASH and you notice no poor kid is going to be ever setting up a DASH master node.
Basically Telos is now just moving to that same more expensive node category demanding people to put roughly 1 000 USD to set up a node, although, by the time the mandatory fork happens, it might already be much more expensive depending what way price of Telos goes.
Regardless, it doesnt really matter what the price is for setting up a node, since nowadays there are anyway services available which make it possible for you to take part of a node, even part of DASH nodes. You might not be able to affford whole DASH node, but you will likely be able to invest for example 1 percent of a DASH node, so then you go to one of these services and buy 1 percent share of a DASH node, this is same with TELOS too, there are services who are offering shares of a Telos node.
Of course, it isn’t the same as your own node, but it is pretty good alternative, sometimes even better than running your own.
Then there is also the staking option, upon which you have two different options.
First one is that you stake yourself. This means you keep money in your wallet and your wallet open.
Notice also that in votes the staking share is about to double after July fork.
Currently new rewards split is still 10/90, 10 for staking, 90 for nodes, but after July, this split will be 20/80.
Minimum staking amount is to keep 1000 coins in your wallet, however, since so many coins are being staked, it might take a long time before you get your first staking reward.
For this reason, for second option, I would recommend using bitdorado.eu instead, where you can stake with small amounts already, and will be getting shares of rewards fairly quick.
Do notice, however, that bitdorado requires AML-NOW KYC, which costs you 1000 Telos, but that will also give you AML tokens so it is not just paying coins, but you are also getting something.
OTHERWISE SOUNDS GOOD BUT THAT CHANGE TO 100K TO 10KK NODES, ISNT THAT HOW SCAMMERS DO IT, SOUNDS FISHY TO ME
Yes, many coins do that. When they notice their coins aren’t selling enough anymore and the price starts getting down, they get this idea. Let’s change the Nodes collateral higher, that way people have to buy more coins to keep their nodes running and it results in a short term need for more coins and hence the price to go up.
However, while this effect might work in Telos price too, this however isnt same as with those ones.
First of all, Price of Telos havent really gone down to require a Collateral change to artifically make demand.
Second, Coins that do that, usually have only one type of node. If you have only 1k nodes and you change them into 10k nodes, suddenly 10 times more coins are going to be locked to these already existing nodes, since people want to keep running them.
However, since Telos has 5 different Tiers (5 different master node collaterals), this works bit different.
Idea is that if you have 1k node, you have one raffle ticket in your hand. If you have 100k node, you basically have 100 raffle tickets in your hand.
Since most nodes are already 100k nodes, especially from collateral coins point of view, there is no forced to put higher collateral to your nodes.
Most master node runners will likely still keep running 100k nodes like before, simply because they cant afford the higher tiers.
However, those few who do have been able to afford buying several 100k nodes, they will likely combine their nodes to one of the higher Tiers to make their life easier.
That for example if someone is running hundred 100k nodes now, he can now instead keep running only one 10kk (thats ten million) node saving a whole load of trouble.
Especially if price of coin goes up due to this change, then this will force the situation to remain same even more strong, since people simply cant afford to buy those higher Tier nodes, they are pretty expensive, just the next tier from 100k tier would already cost 3 000 USD, how many can afford that?
I cant really see the comparison here with scam coins artifical increase of price by making higher collateral compared to Telos coins higher collaterals.
There already isn’t many people putting up less than 30k nodes since there is no point in doing so anymore, it is just now forced that you have to put the first sensible node, which is 100k node, which is anyway what you would do if you are sensible.
ABOUT THE VOTING A BIT
Since many people seem to be both surprised and think there is something fishy going on with voting when they realize that Telos does it differently to rest, let me explain it to you a bit.
First of all, the Mandatory fork in July. Some people are worried about this too since they don’t understand why there has to be one while some other coins don’t have such a thing.
I have explained this at the beginning of this article that talks about possibly future coming Telos Revolution coin
Now, usually, coins use a voting system where Nodes are able to vote. This makes sure that each node can only vote once etc.
It has many benefits, and until this coming mandatory fork, I would have favored this system to be used in Telos votings too.
However, these latest changes coming in July, show that, at least in my opinion, Pascal was right about his voting system decision.
Telos voting works so that anyone who has 90 Telos, can make one vote, even several times, which is a part that still basically worries me.
However, if you plan to vote several times, you actually have to vote several times, that you cant vote 10 times at once, but you actually have to give a single vote 10 times. This is to help with avoiding someone rich in Telos to decide the voting alone.
Basically richest Telos owner still can decide the voting results himself, but at least this takes a whole load of time, especially if smaller owners decide to gang up against him since 10 people can vote ten times faster than one rich.
The philosophy behind this decision was that usually only Master Node owners are able to vote, but this completely leaves out lots of people who for example use only shared hosting options or who are only staking or maybe just holding coins.
In master nodes only voting system, these people have no voice. In Telos, even these people have a voice.
Especially now that it looks like that at July fork a minimum to get a master node will become 1 000 USD, and if the price of Telos goes up, it will be even more expensive, this means that with master nodes only, only very few, the rich and those who put money at the beginning to Telos, would be able to decide about future directions.
With the current voting system, however, everyone who holds any Telos will be able to cast their vote on subjects.
For example, I have been on Telos right from the beginning, but I have been too lazy to have master nodes myself (tried them at one point for a short while, until Peertoro came to play) and I wouldn’t be able to vote on any votings unless the system would be like it currently is.
All in all, it isnt a perfect system, nor is master nodes voting system perfect.
Master nodes voting system leaves lots of people outside from votings, while this system has the vulnerability that a rich one with lot of time can decide the result of a voting.
Which is a better system, or would there be a third even better system, is up to debate, but this is anyway the voting system we have on Telos right now, and everyone can participate in it.
Hence, change to 100k – 10kk is not Devs decision to manipulate the price (although we can’t really be sure of that since maybe he cast all those votes), but it was a democratic major vote decision.
Someone may have had his hands in it and played a game in his favor, but anyone else could have done the same with any of the other options.
No conspiracies, scams, or secret plays here that any other voters couldn’t have done as well.
Fair and square.
Voting is over and we now have new Telos Fundamentals in place for next July’s mandatory fork, which will take place since some Fundamentals did change.
Votings decided Following:
These changes won’t come to effect until July when the Mandatory fork is done.
Voting itself was more lively than previous years voting.
Masternode/Staking Split was most of the time fight between keeping as it is (90/10) and 80/20 split, until in last days 10/90 split came and pushed itself to number one for a while, and then “keep it as it is” option started pushing itself with somewhat clear neck to becoming a winner.
The collateral change was for a long time in close to draw with two options until in last days the winning option took a long neck to the previous two and stayed unchallenged.
Change of Rewards was the closest call of them all. Right from the beginning clearly the favor was amongst either keep it as it is (100 per block) or reduce it to 50.
But while on last day, and not just last day, but last hour there were still couple of votes more on “keep it as it is”-option, it was only in last minutes that “reduce to 50” option finally got a couple of votes more than the “keep it as it is”. And yes, it was literally a matter of minutes, less than 5 minutes I think, as I was following it on last minutes.
The voting was so tight that even as I am writing this, there still seems to be dropping some votes there.
However, as far as I looked, at the moment the voting ended, situation was 48 votes for “reduce to 50 per block”, and 45 for “keep it as it is”, and a similar situation is even now in favor of “reduce to 50 per block”, still with few votes difference.
Anyway, as far as I have understood, game was over at 48-45 situation already, and all the votes cast after that don’t matter, but it is as it is.
For future reference, I also just in case took a screenshot of each voting result, although not exactly at the right time, but a bit after when I realized it might be necessary.
If you are one of those who keep following their Blueboxes through Bluebox Dashboard at blueboxing.net, be aware that right now Blueboxes are not connected to Bluebox Dashboard, which means that Bluebox Dashboard is not showing the info about your earnings that it normally would.
The reason for this is the ongoing update to multicoin support. By other words, if your Bluebox Dashboard isn’t showing your income, you can jump and say Hooray, since that means you are now getting in addition to XBTX also some Telos with your Blueboxes.
Yes, that is right, from now on your Blueboxes will be POWing XBTX at the same time as they are running a Telos master node, meaning you will be getting both XBTX and Telos to yourself.
Notice also that due to Blueboxes and Bluebox Dashboard not being connected currently, it also means that if you update your wallet address in Bluebox Dashboard, this also will have no effect.
If you need to change your wallet address, you will have to send a ticket telling you want to change your wallet address, and to what wallet address you want to change it into.
To cut it short. Don’t follow your Bluebox earnings from Bluebox Dashboard, but follow them by looking at them directly from your wallet.
And when will this update be complete and dashboard working again, have at this point not been publicly told yet, but might take a while since according to Pascals talks there is going to be even more updating in the plan which will give people better control over their Blueboxes and what they are doing.
So far, and by the current plan, in the future too, every July there will be a mandatory fork to update Telos.
This also gives the possibility to change some Telos fundamentals like happened last July too, and right now there are some votings going on at governance.rocks regarding these fundamentals, like Reward splits.
This article will be updated if more votings regarding the fork come up
Right now there are three different votes going on at Governance.rocks that will end about 50 days later.
The first one is about the Reward split.
Currently, we have 90/10 split meaning that each reward is split so that 90 percent of that Reward goes to Master node owner, while 10 percent goes to someone who was staking his coins.
Options for this voting currently are
Keep it as it is
80/20
70/30
50/50
10/90
100 % POS
Especially the last two, or could say even last three options are quite game-changing ideas where Proof of Stake would clearly get much bigger picture than it currently has at same time as the relevance of Master Nodes would go down a lot, and especially on last option Master Nodes would be ditched completely out of the equation while on second last option it basically means only few Master Nodes would be worth keeping instead of staking.
Right now, at the time of writing this, most votes were with 80/20, but also Keeping as it is and 10/90 had some votes too. However, with the current amount of votes – 12 to be exact from which 7 are on 80/20, it can still end in any way.
Second voting is about Collateral Split of Tiered Nodes. By other words, how much collaterals and which Tiers would be available after the July fork:
Keep them as they are
1K/ 3K / 10K/ 30K / 50K
100K/ 300K / 1KK / 3KK / 10KK
1K/ 100K / 1KK/ 3KK / 10KK
1K / 10KK
Go POS only
Options somewhat boil down to either keeping the same, Halving the highest Tier – basically a small steps towards the original 1k only nodes, or taking one of the options with 10 Million Collateral nodes.
and of course the no Master nodes at all option as was the 100 % POS option in the first voting.
Currently, all 5 votes are on keeping them as they are option. So while amount of votes are still small enough that it can end to anything, it seems there is strong support for keeping them as it is, or perhaps people are just not wanting the 10 Million Collateral option.
Third voting is about the amount of Reward. Right now each new block produces 100 New coins (used to be 200 before the previous fork), but what will be the new one:
Keep them as it is (100 each block)
80
50
120
180
With current options we have an option to lower them a bit, half the rewards, rise them a bit, or almost double the rewards getting close to original amount of rewards.
This voting is currently most scattered among these three, with 7 votes divided between keeping them as it is (4), 80 (1), and increasing to 180 (2).
With this low amount of votes, it can still happen anything, but it looks like keeping things about as they are seem to be what most people prefer, and especially on first voting the 80/20 seems to be having somewhat strong neck compared to rest, so it might well stay that way.
In case you wish for some other options still for votings, you can send a message to votings-channel in official discord to request them, maybe they will be added, maybe not.
Some of these votings are bit interconnected together like if we take 10/90 split between master nodes and staking (the opposite of current one), then, for example, 1k/10kk collateral becomes much more viable option as then we would be talking of there possibly being only a couple of master nodes in the whole world, as from profit point of view it would make sense to have only couple of 10 Million master nodes since otherwise Staking would make you more already. This could basically means some sort of super master node with all kinds of security and power around it since income is good enough to make worth paying more to keep it superb.
All in all, except for couple of radical options, it seems changes to Telos will be somewhat small, like Rewards changing somewhere between double to half, which isn’t that big a change.
Go and vote now, there is no complaining after the voting is over if you didn’t participate in it on time.
This is bit old news already, but on 19th of January Pegasos Online developer shut his service down due to too few paying users.
Pegasos Online was a hosting service where you were able to host among others, your Telos master nodes, and where you were able to pay the monthly fee with Telos.
Pegasos Online used to be part of Pegasos coin project which was the first coin that got eaten by operation Pac-man, where Telos eats all other coins by merging them to Telos. While eating Pegasos coin didn’t yield such a good result as Pascal had hoped, it was still a piece of Telos history that is now gone.
Farewell! Let’s eat something else says Pac-man.
By end of last year, probably about 30th of December, most likely thanks to Biki exchange Telos launch, Telos reached number 1 spot on Coinmarketcap.com biggest gainers list:
To clarify this a bit, the number one spot itself isn’t so big an achievement, for, after all, we are talking of a top gainer for one hour which quite many coins can manage in one point or other in their life.
But what is significant here is that if you check the 24-hour volume of all these coins in this list, you can notice none of them are tiny. This is because question is not that we haven’t been number one gainer even other times compared to coinmarketcap list, or that there wouldn’t be even higher gainers even right now existing, since obviously rock bottom hit 1 sat coins reaching 2 sats would be 100 percent gain – yet worthless, but thing is that coinmarketcap doesn’t take into calculation coins that have less than 50 000 USD trading volume in last 24 hours.
And this is why being biggest gainer even for just one hour is significant, since most coins will never make it to number 1 in coinmarketcap biggest gainer list, not even for one hour, so Telos has once again broken one threshold in its way to becoming the true number one crypto coin.
Bitcoin goes down and now we see the real Altcoins that are not tied to Bitcoins success. Just look at Masternode.Buzz “Best Performing Masternodes #Week49” – article and you can see that already the 8th best-performing master node is on the negative side of profit.
when considering how many master node coins there exists, this really makes you wonder how only so few are able to escape the clutches of bitcoin.
But good news, Telos is one of them and not just one of them, but the number one, making actually more than twice the profit compared to the second one. But what really matters is not how much profit Telos made, but that Telos stayed on the plus side while others that followed bitcoin went down.
It was only the previous news item where I told about Lucky Sevens Monday Article of “Do you trade TELOSCOIN and why not?” which seems to having been more timely than he even thought when right after publishing we receive the news of Telos being number one performing master node coin begging the question of “Why not?” again.
The price of bluebox has gone up and for a reason. Or actually, with the latest Telos prices, the price of Bluebox might have even gone down, depending on how you look at it.
Reason for the higher price for new Blueboxes nowadays is because they will be hosting 2 x 100k Telos nodes by default.
Current price for a bluebox, as time of writing this, is shown as 1 690 Euros, which makes me think that with current price of Telos coins it seems to me like the price of Blueboxes went down rather than up, for while you do need to pay more to get the bluebox for yourself from now on, buying those 200 000 Telos coins is not very cheap nowadays, making the price of the bluebox itself somewhat low.
Add to this the possibly coming points system mentioned in this news item, and one can wonder where is the price of Bluebox there anymore.