You are watching The Daily Decrypt, where we take competition with our currency. I'm your host Amanda B. Johnson and today's episode is brought to you by Black Halo, Bit Halo. As you may or may not know, the Dash Block Award is not paid 100% to minors the way it is in a lot of other cryptocurrencies. Instead, it is divvied up in the proportion of 45%, 45% and 10% among various network participants. And one of the hunks of 45% goes to people who run what are called masternodes. These people do three things. They host a full copy of the blockchain. They do coin mixing for dark scent. And they offer up the confirmations required for instant x, instant confirmations. Now, there are currently 3559 masternodes and they get paid on average every five days. And the payment is an average of two Dash per masternode. At current Dash price of about seven US dollars, that makes for about $84 in Dash per month for one masternode. So like mining, it is a way of earning magic internet money in your sleep. And so it is an attractive option to a lot of people. So today I will tell you how to run one. Now, important to note is the 1000 Dash collateral required to run a masternode. And at current Dash prices, that is about $7,000. And so some people have begun pooling their Dash together to get the 1000. And they are splitting the proceeds of running masternodes. And this has spawned at least two services which offer masternodes shares as a service. One is called Splawics, Super Shares and Hosting Services. And the other is located at masternode.me. So the way it works basically is whatever amount of Dash you have, say it's 100 Dash, 300 Dash. Whatever it is that you can contribute to running a masternode, you contact these people who run these sharing services, tell them how much Dash you want to put into a masternode. And then they begin seeking others who want to reach that 1000 with you. And it may be occurring to you at this point that yes, you can actually also just do this yourself. You can just find other people who want to pool their Dash to reach their 1000 with you. Don't have to go through a service to do this. The clincher of it all being that since the 1000 Dash need to be in one address, the person who holds the private keys for that address will need to be trusted by all of the other parties. So if you yourself are not the one holding the private keys, you only want to work with people with the best of reputations, the people who stand to lose quite a lot from dishonesty. And shares in these services cost a few dollars a month. And now if you're thinking that sounds well and good, but I would rather have the 1000 Dash myself so that I didn't have to trust anybody to run this for me. I would like to be my own masternode. There are basically three ways to host a full masternode. You can do it, say, from your house with something like a Raspberry Pi. You could do it from a VPS, any kind of virtual private server, or those generally range between five and $10 a month. Or you could use a specialized VPS that only does masternode hosting and several of those kinds of services exist as well. I've posted links to all of these resources in the description section. So happy masternoding. Today's episode is brought to you by Black Halo, Bit Halo, which is a double deposit escrow client that works with either Black Coin or Bitcoin that allows two parties who don't trust each other, who might even mistrust each other to make a deposit that will not be released to both parties until the trade has been agreed to be successful by both parties. You can find those free downloads at blackhalo.info or bithalo.org. Well, thanks for watching. In case you're interested, there are several ways to get the DailyDecrypt fed to you each day. If you'd prefer to see, say, a video preview of each episode before committing a follow us on Twitter, where we always post video previews of each episode. There's also, of course, our Facebook page. All videos get fed to there. If you like Reddit, you can get all DailyDecrypt's videos sent right to your Reddit inbox by sending the message subscribe to you slash the video. The DailyDecrypt underscore bot. And of course, you can also subscribe here on YouTube. And for you who prefer audio, there is an RSS feed for the MP3 files of all of the DailyDecrypt's videos linked in the description as well. Have a lovely day. Hope to see you tomorrow. Cool mining or contract mining is when you pay somebody else to run and maintain cryptocurrency mining hardware on your behalf. I've reached out to Charlie, who is a researcher and writer at Crypto Compare. And that's why mining contracts are a good idea. And the last people who don't have the ability to set up a remine, to get involved, to get some to get the experts to do a fool them. Thanks for watching.