I think the big issue here was the misunderstanding about earning possibilities. I’ve had the node for a long while, I think since right around the start. I am earning far LESS now than when I first set up the pNode. This was always going to be a long term project and I am looking forward to seeing what things look like come next year.
1500 nodes for 80 slots? How true is that?
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Yes but PRV value is also a lot higher, so what you’re proportionally earning in $USD is probably not that much different.
My nodes shall remain indefinitely.
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I agree. Upfront clarity is huge. It’s all there, but it’s a lot of reading across the site. We’re working on it.
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Not for me.
I clearly mentioned what the concern is.
@aaron and @andrey got me correct. And what I was worried about was not an issue as I see now.
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For some reason this has been the most insightful thread I’ve come across thus far. There are definitely merits for engaging the same rhetoric from different perspectives!
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% agree and I’m glad if you were able to find smth useful for you here:+1:
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I loved reading your posts guys, because this is some things that has been on my mind for the last couple weeks. But clarify something for me, I was informed when I bought my first pnode that 35% of earnings when funded by the “fund” goes to us as a reward and the remaining goes back to incognito until the “borrowed” PRV is paid back. Has this changed? I thought once they got their 65% up to 1750 PRV that our earnings will turn to 100%??
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@Justin_Smith it is not correct. There is no “borrowed - paid back” here. Previously when you bought your first node, it was 25% - 75%, too.
Let’s read about the current pNode mechanism here: pNode Staking Mechanism
At any time, when you have 1750 PRV, you can stake it yourself and earn 100%. That 1750 is yours, and you can unstake it and take it back. But with borrowed staking, the 65% that goes to Incognito isn’t a payment for borrowed funds, but a source of funding for the DAO (proposals, costs, etc.)
That’s why after 1750 PRV you don’t automatically convert to your own staking, because someone would still need to provide the 1750. If the other 65% were just going to funding your stake, it would be like you’re getting the full 100% even on borrowed stake, just into your stake rather than your reward payout. Does that make sense?
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Yeah, I think he misunderstood. You don’t have to buy PRV to stake, but it doesn’t buy the PRV for you. Otherwise there’s no difference between self-funding and borrowed funding, either way it would be your PRV. It wouldn’t really be “paying it back”, because you can withdraw your stake.
So if 65% went toward your stake, then you “pay back” the 1750 and get full staking, you could just withdraw the 1750 since it’s now your stake and then you didn’t pay anything. So you basically earned 100% the whole time, but in different accounts. If that were the case, it wouldn’t really make sense to require 1750 to stake in the first place.
Sorry for the confusion, but it seems like a misunderstanding. Hopefully we’ve clarified it in the posts since then.
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Disappointed, but yes clarified. I thought that was the benefit of buying the $199-399 hardware. Thanks Aaron.
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I understand that, sorry to disappoint. I mean, you will eventually earn 1750 PRV with the 35%, but at a little over 1/2 the speed than if it was being paid for by the 65%.
Is not a case of misunderstood, it is how it started way back, but some early-birds missed the memo on how it changed from being “loaned” to being “rented” and keep repeating what they think is still valid, but isn’t.
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The whole 35:65 ratio was not apparent when prv was $0.13 to my knowledge. ($220 vs $1450 now)
As I would have definitely unstaked and fully funded my node.
Was this public knowledge bc I remember seeing and hearing nothing. A tad disingenuous in my book.
Disclaimer: I may have just missed it too
The ratio was 25/75 and yes that was stated.
Recently it changed for the better, for the Node owner, to 35/65.
In the beginning however it was not possible to unstake the pNode, and stake it with your own PRV. That also changed for the better.
Development is in full progress.
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This is my fault for the “funding” idea. @andrey came on my podcast and misspoke about this.
I should probably go back and fix the intro to add in the real info.
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But @Jamie, don’t you think you should still honor that since that is how you promoted the product to the early buyers. Coming from the horses mouth. That Is the whole reason we bought in. That’s the reason I have three of them, I was expecting for them to eventually become 100% without me having to touch them. I understand advancements but you can’t market something one way and then change everything after everyone has purchased.
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Don’t worry about it, you are not the only one.