Summary
The fork is done, so we should have staking system running and enable stacking with validators
Proposal
Enable staking for people to earn and vote in the ecosystem
I wish it could be as easy as flicking a switch. The validator program wasn’t set up to handle a token with 6.5 Trillion minted coins. The second issue is that we will be exposed to a 51 attack (really 67 thanks to the veto feature).
Besides whos going to spend $10,000.00 plus on servers per year to stake a coin worth $0.00012 and dropping daily.
I agree we need to restart staking, validating and open up governance. We need to ensure a plan is in place. A plan that burns tokens and rebuilds the ecosystem. Not burns the ecosystem!!!
Bump to this guy
you have no clue what you are talking about
$10.000 server cost ROFL
Fatman showed that Do kwon claims to be fully centralized but ALWAYS had enough staked tokens to have sole control over voting.
The 51/67 attack already happened by him
The question is how is Luna Classic to get rid of him else Luna Classic is going to di.e quickly.
As sooner people realise it without new voting power Luna Classic will fail quickly as better because a lot of supporters are losing hope seeing nothing changed
Servers costs money, as does internet and electricity. You need back up systems and fail safes in otder to maintain 99.9% uptime. Then there is maintenence of the equipment. Running 24/7 will wear out a system pretty fast. Then they produce heat, which is great in the winter but not in the summer so you will also need AC Running to keep the servers cold enough so they do not overheat. This does not include time spent. All those hours spent setting up the system and maintaining the system. How much is your time worth?
Alternatively you can pay for a dedicated server service which is also costly, but is maintenence free.
Such a server starts from $50 month…thats your cost
are they broke even to support a validator?.. If you are broke to run a validator with digital ocean, you shouldn’t be even spending in Luna LOL
Cost money? You don’t even know how much server costs and how the servers are running nowadays…
It doesn’t even cost a dinner, you can hook up with digital ocean for less than $50 per month.
Learn here how to setup a Luna validator →
How to Setup a Terra (LUNA) Validator Node | by rekt0x | Medium
if you are the leader of the Community, and you are going to charge for validators for $10K, Man! That will be ripping off from the beginning.
Its funny you think that selecting a cheap no frills basic cloud server will make you a validator.
You do know they limit the number of validators to 130 right. They go by size and power. Some little server with basic computing power will have no chance to compete with them.
Do you know what you needed to have pre attack Luna holdings, to crack into the top 130 earlier this year before the attack? I think at its highs, it was 150k LUNA. That was $13 Million. Now obviously currenty that would change right. Well not so fast. To crack the top 130 now chances are you would need north of 1 Billion, $10 Billion even? So $120k (to $1.2 million), and thats the bottom ranking. That won’t last long as more and more compete to become a validator.
So focusing on pre attack as that’s where my origional basis for cost origionated from.
You are going to secure $13 Billion worth of crypto on a $40 server???
That $40 is the basic no frills starter pack btw.
What you actually need, as a muninum is the folliwing regardless of whether you are buying, or ising cloud services:
Operating System: 64-bit Linux
Processor: An Intel or AMD x64 processor with four or more cores.
Memory: 32GB of RAM.
Storage: At least 2 TB of free space (NVMe is preferred).
Internet: Broadband internet connection with speeds at least 300 Mbps.
You will also need to have a certain level of education including having operational knowledge of how to set up, run and maintain the terra node continuously.
A commitment to maintain your node 24/7/365.
System operation skills.
Server administration skills (Operational & Maintenance).
To aquire these skills it is not free, and to spend your time using these skills, you should consider the level of pay that covers this kind of certification level. So your time is worth a lot of money. For server maintenance companies I worked with charged North of $95 per hour, and $150 plus if after hours (this was also a number of years ago, pre inflation). Even at half that as a person with no travel requirements your time is worth $47.50/ hour and $75/ hour after hours and weekends.
Even if you decide to be cheap with your own pay say $25 / hour than.
To set up as a validator it’s a lot of work. Takes time and thats money.
Securing your system is an added expense on that basic price btw. You need the right software, up to date OS & software at all times, and monitoring as well.
Oh this is starting to sound like at minimum a part time job, and could be a full time job even.
Now you want to have users delegate to you? So you need to market your services, which means a website. I have a feeling your gonna say use a free hosting site lol. Yeah that would look real professional for a company that has millions worth of assets and vying for others to invest into your company. Also advertising costs. Marketing is not free. Facebook adds, twitter adds, google adsense etc. Oh look more hours spent promoting…oh wait I also said company. Thats right.
You will likley want to register as a business. That means more costs.
Now that your set up and earning money guess what. You also have to pay taxes on those earnings whoops there goes more money.
Wow this sounds like a lot more than $40 per month to become s validator so I can vote.
Also I am not charging, selling anything to validators lmfao. That is their costs to run a node. They expect a certain amount of renumeration in exchange for thier costs. That is my point. Their expectTions are based off what I just mentioned.
If you want to do all this on a $40/month budget. Good luck.
you have COMPLETLY NO CLUE what you are talking about.
just read the first points of your nonsense,
First server has requirements based on usage and storage.A dedicated server for $50 can easily handle it.
Secondly the dedicated server doesn’t secure any tokens.How come you have such stupid idea.
Thirdly old validators and new validators would need to compete for new votes.Old votes are nearly worthless.Also its not competing with server power.That is total nonsense from you as always.What change does it make if a $50 server can handle the traffic and somebody else has a whole datacenter where only 0.000000001% will be used ?
Makes completly no diffrence.It seems you have never run a node in your life.
Also the delegated lunas were not owned by validators but by voters so they didn’t needed to invest a penny if they got their voting power purly from delegetions.
“You are going to secure $13 Billion worth of crypto on a $40 server???”
Do you even know how nodes and blockchain work ?Seriously you have completly no clue what you are talking about and i posted it already several times when reading your nonsense
The server parameters you posted from the faq page cost only $30 per month…what a high requirement right ?
A commitment to maintain your node 24/7/365. and you can simply put a backup server and dont need to be 24/7/365 being online
'To aquire these skills it is not free, and to spend your time using these skills, you should consider the level of pay that covers this kind of certification level. So your time is worth a lot of money. For server maintenance companies I worked with charged North of $95 per hour, and $150 plus if after hours (this was also a number of years ago, pre inflation). Even at half that as a person with no travel requirements your time is worth $47.50/ hour and $75/ hour after hours and weekends."
they charged you so much because you are a total noob.Perfect server admins with 15 years
experience in datacenters are charging $15 if you know where to look.
“To set up as a validator it’s a lot of work. Takes time and thats money.To set up as a validator it’s a lot of work. Takes time and thats money.”
Total nonsense if you setup a good validator and backup and monitoring scripts you nearly have no work other than monitoring and adding updates.
“Securing your system is an added expense on that basic price btw. You need the right software, up to date OS & software at all times, and monitoring as well.”
How does an attacker know your servers IP Mr.BRAIN ?
“Now you want to have users delegate to you? So you need to market your services, which means a website. I have a feeling your gonna say use a free hosting site lol. Yeah that would look real professional for a company that has millions worth of assets and vying for others to invest into your company. Also advertising costs. Marketing is not free. Facebook adds, twitter adds, google adsense etc. Oh look more hours spent promoting…oh wait I also said company. Thats right.”
Maybe you show me the websites from nodes who were run on other professional websites which are fully DPOS…Ahhh i forgat noone received so much money like validators on Luna and still you can’t see them here at all.You saw validators talking here to the community?
And don’t get me wrong but your knowledge seems from a marketing and blockchain book for beginners.
“You will likley want to register as a business. That means more costs.”
Why you need to register a company for running a node ?Nonsense.
“Now that your set up and earning money guess what. You also have to pay taxes on those earnings whoops there goes more money.”
Depends on your location Mr Brain.
“Wow this sounds like a lot more than $40 per month to become s validator so I can vote.”
You clearly have an EGO issue Mr Brain.
You talked about server cost of $10.000 plus where i guess we already proofed it costs only $50 per month…
But keep twisting to don’t look like a completle noob who has completly no first hand experience in DPOS.
2 Likes
Deathstar_Daddy doesn’t know and he wanna be assigning himself to take LUNAC leadership role. That is total BS, all his response are total nonsense. He doesn’t even know how validators work let alone blockchain. It is better to talk to wall than explaining to him.
2 Likes
Vote for the fart ah, the validator are running, my vote can not vote.
ben dünya tükedici haklarına dava açacam benim param tera luna dayken neden lunc taşıdılar bu bir dolandırıcılıktır