Do you really need 3 million NEM

Hi I was really excited when reading about NEM and their platform I spent most of the day researching. I would really like to become a supernode. When I saw the 3 mil investment required it was quite deflating. Thats over $30K. WOW! What kind of return can you get as a supernode?

About 5% ROI…

It’s also possible that the amount of rewards will increase in the future, but if that happens, it is very likely that then the amount of nodes will just increase too until it balances out at 5% again.

when the program was announced almost year ago, marketcap was around $1M for a long time. After this meteoric rise rules did not change. That is why it is so expensive now

Yes I did some math looks like I am about 3 months late here. Is that 5% a year?

The bounty is 70 000 xem / day for all supernodes. Now it is ~490xem/day for one supernode which is ~ 6% a year if we will have same amount of supernodes for a year.

OK Thanks, I will just stick with harvesting for now. Do you know what kind of return I should expect from that? I just ordered a raspberry pi 3b so would like to know how long before I get that back? I have put 13000 NEM into my wallet about 10hrs ago but my vested balance is still reading 0.00.

After 24h, your vested balance must be 1300 NEM (10%).

in nem there are no block rewards, only fees from transactions. with 13000 vested balance you will get less then block/month so it wont pay for electricity (unless nem gets really popular - but then fees will also go down).
You can read more about Importance and Vesting here http://blog.nem.io/what-are-poi-and-vesting/.
You should enable Delegated Harvesting and harvest on some Supernode for free.
HowTO: http://blog.nem.io/how-local-and-delegated-harvesting-works/
List of supernodes: http://supernodes.nem.io/

or you can send me your DELEGATED private key (NOT your primary private key) and i will add it to my supernode and it will harvest for your account when my supernode is up (even when I restart it).

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rajc, OK if I did that what involvement would there be from me? Would you just send whatever coins I made to my address? I was going to use a raspberry pi which is very low power. Not looking to make much money just getting my feet wet with the mining harvesting etc…

If you read the links I provided more carefully, you would know :slight_smile:
The only thing Delegated account can do is to harvest for original account. In other words your account would get the fees automatically.

But if you want to run full node and harvest on it … It is great!

you can follow this tutorial

it is for supernode, but running normal node on linux server is same, you just dont need to run “servant” and “enroll supernode”

Thanks for your offer, I will consider it. Can you tell be any advantages to harvesting through your supernode vs just harvesting locally through a Rasp pi? I assume you shut down at night? I understand about the power issue.

https://forum.nem.io/t/nem-supernode-rewards-program?source_topic_id=2502
one shell not shut down his node and still call it supernode

Is it possible to run a supernode with multisig with 2 or more accounts contributing to the balance?

Im not sure how to do this, so if its possible, i would love to see a guide on how this is done, as people like me could run nodes with the balance from others to top it up to make the 3 million goal, then all is required is to divide and share the earnings at the same ratio as everyones balance, i guess this part would have to be trusted to who was running the node?

no that is not possible right now.

OK, someome mentioned on the bitcointalk thread that it was possible, but wondered how.
Anyway, its still possible if it was a trusted party, a bit like how people are offering this service for masternodes with DASH.

Someone may be able to start such a service in the future i guess. :slight_smile:

rajc, I think I am just going to run a node here locally and do some harvesting for a while. I may take you up on your offer later on though. I just want to play around and see if I can set it up and run it for a while.

Ok, great! It is better for NEM when there are more full nodes.