I finally did it: I have set up my own SmartNode and will now earn regular payouts of SmartCash. That was surprisingly easy and fast. Here is a rough breakdown of the process.
Get 10,000 SmartCash For Your SmartNode
The 10K SmartCash are considered a collateral and required for you to set up a SmartNode in the first place. You still own them and you can always transfer them out of your wallet. Whenever you have less than 10k SmartCash in your wallet the SmartNode will not produce anymore.
So, in order to get yourself a SmartNode you need to own 10,000 SmartCash first. You can earn them with posts on Steemit and by contributing to the SmartHive in form of contests. Also, in form of official proposals which can be voted for by the SmartCash holders. If accepted you will be paid the requested USD amount in SmartCash. Everyone can do that as the SmartHive is decentralized.
Get Yourself a Cloud Server
As suggested by several tutorials I have read the Vultr service is cheap and good. For just $5 USD a month you can get a sufficient Ubuntu server with 25GB SSD, 1 CPU, 1GB Memory and 1000GB Bandwidth. After signup you can immediately get started to install the SmartNode on it. More infos in the videos below.
I am using their referral link and I have not really looked for competitors. Please keep that in mind as there might be better services out there. But I think $5 is a bargain compared to the powerful servers you need for a Steem witness and the Vultr service has worked flawlessly for me.
Installing the SmartNode
For the installation instructions please follow @hannahlicious from the SmartHive in these great tutorials for Windows and MacOS. Currently, you can only use the desktop wallets for SmartNodes. They are working on enabling that feature with web wallets as well. The whole installation process takes less then 15 minutes and is even for non-developers very easy to reproduce.
Little tip: Hannah mentions the smartcash.conf file at the beginning. Check it right away and if it does not exist create it yourself writing only txindex=1 in it and save it in your SmartCash app data folder. Your wallet will now sync all blocks again after restart. To speed up bringing the blocks to the status quo you can donwload the txindexstrap.zip. I've got the link from Blockchain Library on the SmartCash discord server. It worked great for me.
Windows 10 Tutorial
MaxOS Tutorial
Conclusion
The SmartRewards can be paired with SmartNode payouts in one single wallet. That makes it double interesting to run a node yourself and earn passive income. The bigger the network grows the smaller your payouts will become. However, that will hopefully also reflect in a higher price. Currently SmartCash is worth just below $0.10 cents but the decentralized SmartHive and organic growth of the coin are very promising. I hope to see SmartCash becoming a really nice passive income in the future.
i have read so many smartnodes set ups and tutorials just so many praying a day come when i all post me setting mine up.
Yeah man, I am sure you can earn it all here on Steemit. Just keep on producing good stuff and get into the proposals as well. You can get a full SmartNode or more for just one cool gig you do for the SmartCash community.
sure i have really earn some smart from my post and its all grear, yea i thought about this proposal, i will try one with music and promotional activities.
thanks for this tutorial. Time to get 10k smartcash. i am currently mining it with gpu but it's slow :(
Yeah, much of the mining pool is also delegated to the SmartHive, SmartRewards and SmartNodes.
I tried mining with just my single desktop and it was really slow. So slow that it would take me a month to get a few coins. With electricity costs it wasn't worth it :(
I like the idea of the passive income but it will be a while before I will own 10,000 SmartCash. I'm glad you got your smart node set up though and will interested to see how you get on with it. #😊
it sounds like it was a pretty painless process for you @flauwy.
Yes, it takes some time to earn up to it but you will get there eventually.
You have provided enough information to get start with SmartCash and earn through SmartNode. It really helps many people.
Thanks for this great news
Its great... having trailblazers like yourself that we can emulate. Now many more of us can dream of owning smartnodes tomorrow, because you achieved it today. Thanks for keeping the SMARTCASH fire burning in our hearts.
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Looks like i need to give it a try lets hope for the best :D
Wow! This I have been trying to earn smart cash for myself but talking of the smartnode, I would have to learn more on that.
I cannot wait for my first node its gonna be epic. Thank you very much for the information , i will be using this when i get the correct amount of coins :)
@smartbot tip @flauwy 20
Σ$$$ Tipped @flauwy
Σ20 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.095 USDperSMART. Current value of the tip is$1.90 USD. To find out more about SmartCash, please visit https://smartcash.cc.I'm having trouble understanding the smartcash concept. I recently got a tip of 20Smartcash from the meme contest and was even given a wallet address, but I don't know how to access it
Looks interesting, inquiring minds want to know! Discord?
Very detailed information here. How exciting SmartCash is!
Keep up the great work please.
Thanks for the insight, I'm just about to setup my SmartNode now.