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Did the author just spend $300,000 USD to become a master node and write the review!? That's a dedicated blogger!

KirinDave 9y ago
I was curious about this too.
TrainedMonkey 9y ago
He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC. At this point I think it counts more as diversification. edit: [BTC/USD] -> [USD/BTC] && [DASH/USD] -> [USD/DASH]
- ricardobeat 9y ago
  I don’t follow. He shows a balance of 1000 DASH (=300k USD) in his wallet. How is it related to the price of BTC?
  - Retr0spectrum 9y ago
    I think the point was that he probably already had a significant cryptocurrency investment portfolio. He isn't really spending money at this point, simply diversifying his portfolio.
    - jacobush 9y ago
      Diversifying his USD portfolio would be much the same IMHO.
      - aminorex 9y ago
        People who pay taxes in USD tend to use USD as a numeraire. IIRC in New Hampshire you can pay taxes in BTC.
- npongratz 9y ago
  > He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC Maybe I'm calculating this incorrectly, but using the above, I come up with a cost of 75 BTC for 1000 DASH. And given the current BTC price of DASH at coinmarketcap.com[0], I see 1000 DASH would run about 55 BTC. Either way, it's certainly possible that the purchase was for diversification, if one speculates the initial BTC "basket" was quite a bit larger. [0] https://coinmarketcap.com/currencies/dash/ https://coinmarketcap.com/currencies/dash/
  - TrainedMonkey 9y ago
    I really screwed up my math, thanks for checking. Order of magnitude sanity check is ~10 dash for btc, so 1,000 Dash should be on the order of 100 btc.
abrkn 9y ago
I am the author. Yes, it was more like $330,000. The price has since gone down.
- bonestamp2 9y ago
  It was a great review and at the end of it I had this realization that I could be a masternode and earn some Dash. Then I looked up the current price and no, I couldn't. I'm glad you did though and it would be awesome to see a followup on how much Dash you've earned as a masternode.
- mathgenius 9y ago
  So how much does your masternode make from block rewards ?
  - abrkn 9y ago
    I didn't look into that. I've been told it's around 8% annualized

I was curious about this too.

He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC. At this point I think it counts more as diversification. edit: [BTC/USD] -> [USD/BTC] && [DASH/USD] -> [USD/DASH]

ricardobeat 9y ago
I don’t follow. He shows a balance of 1000 DASH (=300k USD) in his wallet. How is it related to the price of BTC?
- Retr0spectrum 9y ago
  I think the point was that he probably already had a significant cryptocurrency investment portfolio. He isn't really spending money at this point, simply diversifying his portfolio.
  - jacobush 9y ago
    Diversifying his USD portfolio would be much the same IMHO.
    - aminorex 9y ago
      People who pay taxes in USD tend to use USD as a numeraire. IIRC in New Hampshire you can pay taxes in BTC.
npongratz 9y ago
> He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC Maybe I'm calculating this incorrectly, but using the above, I come up with a cost of 75 BTC for 1000 DASH. And given the current BTC price of DASH at coinmarketcap.com[0], I see 1000 DASH would run about 55 BTC. Either way, it's certainly possible that the purchase was for diversification, if one speculates the initial BTC "basket" was quite a bit larger. [0] https://coinmarketcap.com/currencies/dash/ https://coinmarketcap.com/currencies/dash/
- TrainedMonkey 9y ago
  I really screwed up my math, thanks for checking. Order of magnitude sanity check is ~10 dash for btc, so 1,000 Dash should be on the order of 100 btc.

abrkn 9y ago

I am the author. Yes, it was more like $330,000. The price has since gone down.

bonestamp2 9y ago
It was a great review and at the end of it I had this realization that I could be a masternode and earn some Dash. Then I looked up the current price and no, I couldn't. I'm glad you did though and it would be awesome to see a followup on how much Dash you've earned as a masternode.
mathgenius 9y ago
So how much does your masternode make from block rewards ?
- abrkn 9y ago
  I didn't look into that. I've been told it's around 8% annualized