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Simplest guide to setup your MasterNode

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DISCLAIMER: I do not know how to code, I do not know how to use LINUX, I do not know how to use UBUNTU, I do not know how to use PUTTY. I have installed at least 7 MasterNodes this way, and have worked flawlessly for me.

I have requested input on this method to several infosec experts about this method, and I was assured it is quite safe, so should not be worried about getting your wallets and VPS hacked. BUT do your due diligence to understand if this method is for you.

1. Firstly go to Vultr and get an account, you may use my reference link as a token of appreciation to take the time to write this guide:

2. Click on the + to “Deploy New Server”.

Click on the + to “Deploy New Server”.

3. Choose your “Server Location”, choosing the closest place to you, this should minimize ping times.

Choose your “Server Location”, choosing the closest place to you should minimize ping times.

4. Choose “Server Type”, choose “Windows 2016 x64”.

Choose “Server Type”, choose “Windows 2016 x64”.

5. Choose “Server Size”, usually the most basic size will do, choose “20 GB SSD/1 CPU/512MB Memory/500GB Bandwidth”.

Choose “Server Size”, choose “20 GB SSD/1 CPU/512MB Memory/500GB Bandwidth”.

6. On “Additional Features” I always choose only “Enable IPv6″ (don’t know why to be honest).

On “Additional Features” choose only “Enable IPv6”.

7. On “Server Hostname & Label”, put the name you want for your VPS.

8. And finally click on “Deploy Now”

On “Server Hostname & Label”, put the name you want for your VPS, and click on “Deploy Now”.

9. Wait until the “Status” of your VPS says “Running”, then click on “View Console”.

Wait until the “Status” of your VPS says “Running”, then click on “View Console”.

10. You will get a screen as below, click on “Send CtrlAltDel”.

Click on “Send CtrlAltDel”.

11. Click on the icon of “Ease of access”, then choose “On Screen-Keyboard. This will save you hours of frustration, facilitates typing the correct characters in the password.

Click on the icon of “Ease of access”, then choose “On Screen-Keyboard”.

12. Go back to vultr.com, click on “Server Details”.

Click on “Server Details”.

13. Click on “Show Password”.

Click on “Show Password”.

14. Use password from step #13 to access your VPS. Use On-Screen Keyboard so you dont waste time typing incorrect characters.

Use password from step #13 to access your VPS.

15. Launch “Internet Explorer”, choose “Internet Options”, then click on “Security” tab, de-select “Enable Protected Mode”.

Launch “Internet Explorer”, choose “Internet Options”, then click on “Security” tab, de-select “Enable Protected Mode”.

16. Then click on “Custom level…” button, look for option “File download”, and “Enable” it. Then click “OK”, click “Apply”, and lastly click “OK”

Enable File Download.

17. On “Internet Explorer” address bar, go to opera.com, and download and install Opera.

Download and Install Opera.

18. Once “Opera” is fully installed, and is open, go to your coin website and download and install it.

The steps below suppose that you have already downloaded your desired Wallet to your VPS and have the necessary collateral to run a masternode (X amount of coins). You can buy the collateral needed in an exchange were your coin is listed.

19. On the wallet click on “Tools” -> “Debug Console”.

Enter the command: masternode genkey and copy the output on a Notepad.

Enter the command: getnewaddress and copy the output on a Notepad.

masternode genkey and getnewaddress generation procedure.

20. Send the amount needed for masternodes collateral of (X amount of coins) to the address that you just generated.

Copy the Transaction ID (TXid).

Wait at least 20 confirmations (if you attempt to start your masternode before you get 20 confirmations, your masternode won’t work and you have to restart procedure).

Allocating collateral.

21. Now you need the Transaction Out (TXout), this gets the proof of your masternode collateral transaction.

Open the “Console Debug” and enter the command: masternode outputs

Check that transaction is the same as previous step and copy the result of Outputidx in your .txt file, or your Notepad of step #19.

masternode outputs.

22. Go to your “NAME OF COIN” system folder and edit the “NAMEOFCOIN.conf” file with your masternode information. Easiest way to find the this file it to go to the wallet of your coin, go to “Tools”, you will have either “Open Wallet Configuration File”, or “Show Automatic Backups”, if “Open Wallet Configuration File” exists, click on it, if it does not exist, click on “Show Automatic Backups”.

Accessing Wallet Configuration File.

23. If from step #22 you had to choose, “Show Automatic Backups”, this step applies for you. Click on the name of the folder named after the coin, see red box below.

Accessing Wallet Conf file.

24. Access the conf file of your coin.

Access the conf file of your coin.

25. Now you have to enter the follow informations and save:

rpcuser=YOUR_USERNAME
rpcpassword=YOUR_PASSWORD
rpcallowip=127.0.0.1
listen=1
server=1
daemon=1
logtimestamps=1
maxconnections=64
masternode=1
externalip=YOUR_VPS_IP
bind=YOUR_VPS_IP
masternodeaddr=YOUR_VPS_IP:XXXXX
masternodeprivkey=YOUR_MASTERNODE_KEY

a. YOUR_VPS_IP= you obtain it from your vultr.com portal, is below the name of your VPS.

b. bind= same as above.

c. masternodeaddr=same as above + :XXXXX (this is port number, specified by your coin)

d. masternodeprivkey= you obtained this number in step #19.

This is an alternate conf file of your coin, if option above does not work this, should do the trick.

rpcuser=random since this is disable, but needs to have something.
rpcpassword=random since this is disable, but needs to have something.
rpcallowip=127.0.0.1
listen=1
server=1
daemon=1
logtimestamps=1
maxconnections=256
masternode=1
externalip=YOUR_VPS_IP
bind=YOUR_VPS_IP
masternodeaddr=YOUR_VPS_IP:XXXXX
masternodeprivkey=YOUR_MASTERNODE_KEY
addnode=IP specified by your coin
addnode=IP specified by your coin
addnode=IP specified by your coin
port=XXXXX specified by your coin
staking=1

26. Now it’s time to get back to your Desktop Wallet, open it and click on:

“Tools” -> “Open Masternode Configuration File”.

In the ‘Masternode Configuration file’ we’ll need to input the following information:

MN Label: <Enter a label for your Masternode>

VPS IP:Port: <IP address of your VPS and port XXXXX>

Masternode genkey: <Masternode Genkey> (we generated previously on step #19).

TX id: <Your transaction through the Masternode> (we generated previously on step #19).

TX out: <OutputIndex of your transaction> (we generated previously on step #21).

Example: klks_ms01 199.247.28.77:51121 525901f650f28c83b4b2df449ea4a738e0627bf151734e62fb30bd56de01cf21 0
Masternode Configuration File setup.

27. Next, save the configuration file, close and restart your coin desktop wallet:

28. After restarting your Wallet , go to “Masternodes” Section, select your Masternode and click on “Start Alias”.

After restarting your Wallet , go to “Masternodes” Section, select your Masternode and click on “Start Alias”.

29. VERY IMPORTANT, go to “Control Panel” > “System and Security” > “System” choose “Remote settings”, and click on “Don’tallow remote connection to this computer”.

30. Don’t forget to encrypt your wallet, create a backup, keep your VPS up to date with latest drivers and latest antivirus version.

31. Increase security by setting account lockout policy, so if someone tried too many times, he’ll be locked out for a while. In your VPS, go to Start (“Windows” logo) on your VPS console, bottom left corner, type in “Local Security Policy”, then click on “Account Lockout Policy”, input “3” in “invalid logon attempts”, then click “OK”.

Account Lockout Policy.
Account lockout threshold explanation.

Credits to Kalkulus for creating an amazing guide for staking and MN setup, with GIF images and all. These are the two links I used from them.

If you enjoy the read, follow me on Twitter, is good for Karma.

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ICO / Crypto

Can cryptocurrency survive a gobal financial crisis?

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Is cryptocurrency a hedge against economic downturns?

The answer to this question is quite controversial, some would say yes because this is what crypto was made for; while others would chime that crypto is unproven in a downturn and will need to survive its first one before we can feel at ease about its survivability. Much of your perception on whether bitcoin and cryptocurrency in general will survive aneconomic crisis, is based on where you stand about cryptocurrency in general. Today we will talk about the possible survivability of cryptocurency in a crisis.

Is Venezuela a test case

Right now in Aouth America there are several financial crises transpiring that may create possible examples of how crypto will fare in a financial storm. In venezuela reports are coing out that many people are choosing to use cryptocurrency to pay for life expenses. The national government under President Maduro have begun to implement their own state backed cryptocurrency called the petro. The Petro is an asset pegged to the price of a barrel of oil and the Venezuelan government hopes it will help them escape dollar tyrany. Hyperinflation has taken its toll on Venezuelans but many of them were informed enough to seek financial refuge with cryptocurrencies. This is a great example of how when value leaves fiat the holders will seek to run to other assets to store value; that exodus now has cryptocurrency as an outlet for the fleeing fiat users.

We may see a big example soon enough

Much of the world is currently on the precipice of a financial downturn and if america keeps behaving the way it has been then we will likely see a major crises emerge in the next 5 years or so. some analysts see a move away from the dollar as a potential catalyst whilst others proclaim that the trade war and student debt will push us into the downturn of this decade. Unlike those times prior, now cryptocurrency has created and outlet for those funds that “dissappear” from markets as the major stakeholders cash out. The financial bigwigs are likely going to enter the cryptospace as they will soon see it as a way to maintain some value in the crises they create.

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Business

Global markets are getting volatile as trade spats continue.

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Trade wars taking their toll

This trade spat between the united states and China is becoming increasingly burdensome upon the people of the world. Emerging markets are tanking and as of this week the american market is also strugling. In america the pullback can be attributed to the corporate shareholders who have been on a buying frenzy, taking a breather and starting to sell. this has kocked the DOW and NASDAQ off off all time highs and caused concern for the smaller investors. There is widespread reports of a possible recession caused by these market circumstances and it could be big. Some cryptocurrency supporters believe that this round of economic turmoil will translate into a run up in the prices of bitcoin and some altcoins.

Will bitcoin prevail in the next downturn

for most of this year stocks in the usa have been on a tear rising similar to how crypto did in 2017. Some are saying this rise will lead to a huge correction that will lead many investors to begin using cryptocurrencies. They site the instances of countries like Venezuela who almost immediately turned to bitcoin and crypto in the midst of its current crisis. I personally hope that this current downturn comes to an end and hopefully some of that money in the hemorrhaging stock market s will find its way into crypto.

Check out this video that kind of explains some of whats going on from the crypto lark over on Youtube!

source

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ICO / Crypto

In a bloodbath be a market vampire

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Cryptocurrency is hemorrhaging and im a hungry vampire

Since the beginning of 2018 the cryptocurrency markent has experienced an epic sell off. Currently 90% of all cryptocurrencies are down atleast 80% from their highs a year ago. Some of you probably think this is the end of Bitcoin, but it is more likely the end of many Shitcoins with inactive platforms or illconcieved concepts. It is likely that over the next few months many coins will begin to get delisted a their values drop below $0.00, only the strong will survive this rapture.

You’ll live if you have an active platform

Platforms like Stellar, Binance, and Steemit are likely to endure through this apocolypse mainly due to their strong platforms and huge fanbases that, not only believe but also work hard to keep the blockchain running as a commnity. The coins that are still hinged upon promises and illusions will fall to oblivion. Take this time to evaluate you portfolia and rid yourself of shitcoins and prepare for the great buying opportunity that is about to present itself.

The long road ahead

The last bitcoin bear market lasted around 14 months and when it ended it still took nearly a year for crypto to really rally in 2017. This recession was an inevitable happenstance that many professional analysts predicted. In 2018 all the rumors were that Bitcoin would drop over 70% before rebounding and surpassing its all time highs. With all this news about institutional investments coming into cryptocurrency It is doubtful that the industry is dead. On the contrary I think it is the beginning of a new period in the crypto economy. Regulation is coming and when that happens the Institutional investors will begin pumping crypto as they build their corporate positions for the future.

### Watch the charts

Right now is not a very good buy situation but it would be a good idea to open positions after BTC droppes below $6000 because a strong rebound is likely. I say that because around $5900 is the mining profitability threshhold. We all know miners control the BTC market so it is a logical pivot and point of support for bullish traders. Try to average into the market and remember that your in it for the long haul.

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