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.

In a surprise move, Pascal today did a joint announcement with Binance that Telos is going to be adding all things Binance to Bitdorado, and Binance likewise will add both Telos and XBTX to Binance.

“This has actually been planned for a long time already behind the scenes” commented Pascal about it and seems it was something Binance had been looking forward too since as Binance said “Right from beginning Binance’s main idea have been to look for great underdog coins and get them listed to us so Binance could help them get the recognition they deserve. This can easily be seen by our track record of having been able to avoid most hoax or otherwise crappy coins”.

So there you see, Binance does it again, once again they are going to be making the world a better place by putting a great underdog coin to the place where it should belong to by placing Telos and XBTX to Binance.

What can I say, Binance is a great place with some real trading volume and great investigative team that is always on the look for the newest most promising coins, real friend of their users by not just looking at the volume of the coin, but really looking what coins their users should be buying.

So time to buy some BNB from Bitdorado guys, especially since Binance also revealed in this announcement that BNB is going to be backed up by toilet paper: “Some coins are backed with gold, some with something else, we figured that due to recent rise in toilet paper price it might be wise to back up BNB with toilet paper instead of gold. Besides, we also felt it reflected BNB better.”

This deal was finalized just today, on April 1st, 2020 at 9 am german time and we can expect things to start happening already in the next couple of days.

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:

• Masternode/Staking split will stay the same
• Rewards will decrease from 100 to 50 per block
• Collateral was voted to change from current 5-tier system of 1k/3k/10k/30k/100k to 100k/300k/1kk/3kk/10kk (and just in case you didn’t know kk = Million, meaning biggest coming tier is 10 Million Telos)

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.

One of the more mysterious announcements happened about a week ago when Pascal made an announcement about the first third-party XBTX token project called Buy and Light.

Not much details were given upon what this is and what it means to Telosland, but I guess it is a good thing.

There was a video attached, which you can find from below, and a mention of a Billboard.ly-web address, which gives even less info than Pascal’s announcement did.

Perhaps in the future we will know more.

There was a lot of misunderstanding regarding this announcement, so let’s hope I can clarify the situation a bit.

First of all, nothing will happen until next July.

And on that next July, there is going to be a fork happening. This fork is a planned thing. It happened last July, and it will happen in future years Julys too unless something changes.

This mandatory fork on July has to do with some limits of blockchain technology which make it so that to make some fundamental changes to the coin, like changing Rewards, either requires them to having been planned in advance to happen automatically at some point, or then you have to do a fork to get them happen.

Because Telos wishes to be a democratic coin where everyone can vote what fundamental changes will happen with the coin, for example, rewards cant be planned in advance, since it can’t be known what will be voted by people in advance, and therefore the only option is to make a fork to get these fundamental changes to happen.

To avoid unpredictability, it had at the beginning been decided that fork would be done every year in July, bit like it is decided that there are political elections in countries every x years apart. Of course, if nothing is voted to change, then there is no need for a fork either.

Next July fork will, however, be slightly different since there will happen two different forks at the same time.

The first fork will be the usual mandatory fork where Telos fundamentals will be changed according to what people vote, just like last July.

You can right now go and vote to affect how Telos will work after next July and you can read more about the options from an earlier article about them in TELOSNEWS.COM.

Second fork will, however, be Pascal’s own fork that he will use as his playground to test some of his ideas to see how they would work.

This second fork will be called Telos Revolution, and NO, despite its name, it will not replace our Telos that we all have grown fond of.

Idea is simply that Pascal wants a Telos coin version which he will have full control. There will be no voting or anything regarding Telos Revolution, but it will be fully controlled by Pascal.

And NO, Pascal is not switching to support Telos Revolution instead of Telos, but he will continue developing and supporting Telos as usual, and Telos Revolution is just a playground for him.

Good news for us is, that as forks work in such a way that whatever coins you held at the moment that the Fork happened, you will then have them in both forks.

This means that if at the moment these two forks happen, you happen to have 100k Telos, You will then have 100k coins in Telos as well as 100k coins in Telos Revolution.

And even better, Pascal is actually planning on selling stuff against Telos Revolution too, meaning your money is sort of doubling.

So since there are two Telos coins, then should you start trading with them both then? Basically no.

The current plan of Pascals is that he doesn’t have plans on putting Telos Revolution into exchanges, which means that you can’t really trade with them, at least not the traditional exchange way. So that already shows that Telos revolution is not meant for trading, but just for Pascal to test his ideas, although he does give an option to use them to buy things.

What you should do is to continue using and trading with the Telos as usual, since Telos isn’t changing anywhere, it will stay as it is, and will continue to be supported and developed just like before. There will just come a test clone called Telos Revolution which main purpose may be being Pascal’s playground, but which happens to be positive to Telos owners as they can use their Telos Revolution coins to buy Pascals stuff too.

So only a good thing happening here, nothing bad. No need to panic or anything. Just enjoy this stroke of luck the current owners of Telos will have when the next fork, or two, happen next July.

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.

There is a new voting in Governance.rocks titled: “Increase the OPCODE size limit to make Magnetic links fitting into an transaction”.

What this means is that Pascal has told about a plan of adding so-called Magnetic Links to Telos Chain which would make Proof of Storage option possible, by other words, making it possible to save stuff like Videos to a Chain opening up possibilities like selling Videos.

Notice however that these files would not be stored to Telos Blockchain itself, but Telos would have so-called Magnetic Links which would have links to another Chain that would be storing these, for example, videos.

This is precisely to avoid Telos BlockChain from bloating too much since imagine every user putting just one movie there and we would already be facing such a size of a Blockchain that no one would have Hard Drive big enough to contain it.

In my opinion, these magnetic links sound like a great addition to Telos Blockchain, but in case someone doesn’t like the idea, Pascal has opened governance.rocks voting about it giving a possibility to say no to it.

Basically the idea of this voting is to find if anyone wants to say no, so in case you agree to it, and no one disagrees, you don’t need to do anything but just leave it alone.

But if there does come some people who start saying “Nay” to it, then in that case you need to show your “Yea” support to it by voting if you want to see it happen.

You might remember we reported you about a free gift to customers of Pascal earlier.

Well, TELOSNEWS.COM has just received a Christmas gift from Pascal and YourBrainOnBlockChain.

While I didn’t get it until today since I left on 23rd for Holidays and on that very same day this had arrived at the local post office waiting for me to pick it up today, it still counts as a Christmas Gift.

Thank you very much, Pascal and YourBrainOnBlockChain!

now the only question is if I should use it to make some splendid sauce for a stake or if the price will in future go up too much that I would regret later having eaten a million.

Despite it being the Christmas the very next day, Lucky Seven still delivered the Monday Article.

This Monday article deals with the new Transcendence Roadmap for 2020.

Basically TELOSNEWS.COM have told you about this too, but especially at bottom of article, Lucky Seven have nicely put all the text on roadmap for a quick and easy read.

Check it from one of these locations:

CryptoAcid

Publish0x

Steemit

Medium

Minds

Have you bought some Telos related products from Pascal? Like Bluebox, Xminer, Peertoro hosting?

If you did, you can ask for some free wine then.

Pascal has made a limited amount of Telos and Bitcoin Subsidium wine to be given to his customers.

As long as you have ordered something from him, you can head on to Official Discord Channel and choose channel #weihnachten and tell you want one too, or write your address to discord username Bitcoin_bond_007 which is even better, as he will be handling the posting from now on.

For German customers, this offer is completely free, but for the rest of the world Pascal asks you to pay 2 500 TELOS for postage, other than that, it is free for the rest too.

So hurry up and get one for yourself while stocks last still, which I don’t guarantee there is any left even at the moment you read this for this offer been available for several days already.

PolisPay has Epay Debit Bank Cards in which you can load money and use them to pay stuff for example in groceries.

While we are still not able to directly buy stuff with Cryptos, it is only 1-step away from that.

If you have Telos stored in Polispay system, then if you are at grocery store and have internet connection available, you could be said to being able to pay your Groceries with Telos since idea is that you would log in to you Polispay account, and there you choose to convert (=sell) Telos to Euros. After this is done, these Euros will be at your use with your Debit Card.

So almost like paying with Telos even technically, you are paying with Euros.

To make this even more appealing, Pascal has ordered 100 Debit Cards from Polispay with Telos Design.

If you wish to have one of these, you can order one from here (not available to all countries), but do hurry up, for as title already says, there are only 100 of these available and due to TELOSNEWS.COM already reporting about this bit late they might soon all be gone.

As the title says, the quality of Melchionda network programs is going to take a notch down.

Well, you can stay on top only for so long and after Pascal Papara being there most of the last Krypto Fridays episode, what else is there to do to keep it on same level anymore, hence the expected dropdown on quality where Pascal is now replaced with John McAfee.

The good news is however that you are free to ask John McAfee whatever you want, I was basically thinking of asking him for one million dollars.

And Melchionda Network also said he is planning on mentioning Telos in that live stream, so not all is lost but there might still be some quality content along the rest there. Who knows, perhaps even John McAfee will start talking about Telos, making the program much better than first expected.

This live stream live call with not Pascal Papara but with John McAfee will start tomorrow at 5 pm (CET) and this time I suppose they will even talk in some understandable language like English instead of their usual not so understandable German language. We finally don’t need to rely on YouTubes auto-translate, unless of course, you happen to be a German with no English language skill.

Remember to tune in on right time. it might not be as good as the Pascal episodes are, but we should still show our support to Melchionda Network in hopes we will in the next program again see some more quality, Pascal content.

You might have noticed that many Crypto Exchanges stopped at the later part of this year. This is because laws have changed and are about to change even more having made some exchanges decide to stop instead of complying with the new laws as it had been too hard or expensive to do so.

At 2020 new set of laws will come to effect that will also collide with some of Pascals plans and therefore some Telos projects in the future will need KYC (Know Your Customer) verification done before they can legally be offered.

Luckily this isn’t so bad a situation as it first sounds.

As many companies, smaller ones too, suddenly need to start performing KYC on their customers, this is clearly a problem to them since it can take a lot of resources to keep KYCing people, especially when profits per customer can be quite a small amount only in some of the businesses.

But when there is a problem, it might also be an opportunity, and so it is this time too and companies like Civic have popped up to solve this problem by bringing not only a win-win situation but a win-win-win situation where all parties benefit.

Civics win is that it now has a business from KYCing people. Customer Companies, like Pascals, benefit is that they don’t need to worry about KYC when they can just pay Civic to handle it. And Customers benefit is that when they get KYCed by Civic once, they don’t need to do that again on any of the services that keep using Civic for their KYCing.

This also means that when you KYC yourself once at Civic, you will in future be able to use any Telos services without KYCing a second time.

If you want to be prepared for the future already, you can go and download Civic App to your mobile from Civic.com and KYC yourself.

So far Pascal has specifically only announced that Blueboxes will get affected by KYC and that you either should KYC yourself by the end of December, or if you don’t wish to KYC yourself, sell your boxes away.