I decided to try mining NKN using AWS Marketplace which has a 1 year free trial. Little did I know that the free trial has a 15 GB bandwidth which I quickly surpassed. Mining on AWS is too costly for me and I have stopped running them in less than 2 days. Is there any way to recover the 10 NKN that I spent for each node set up?
you can sell your nodes ID here:
Or you can migrate your node to other VPS, once you hace the ID you can move it freely. You need the “wallet.json” & “wallet.pswd” from each node to install a new one and dont need to pay the 10 NKN again
Isn’t the OTC - Market post about selling NKN mainnet tokens and not about selling node IDs? Your other suggestion sounds plausible but I’m not sure how to get the “wallet.json” & “wallet.pswd” from the nodes set up in AWS and don’t want to use another VPS service. Currently it costs more to mine NKN mainnet tokens than to buy NKN ERC-20 tokens.
I would like to address your first question.
There is no way to recover the 10 NKN spent on node id generation, because it was not lost to begin with. You are paying for a node id when you send the 10 NKN into your local node wallet. It’s not a trial or a loan.
Similar to if you walk into a store and buy a candy bar and then eat it, you cannot get your money back for the candy bar because you used the goods that you bought.
The reply from r2edu about selling your node id would be the only way for you to recoup your investment as far as the NKN tokens are concerned. Yes that is mainly for getting a loan from others in the NKN community for starting up a node, but it seems others are willing to pay some NKN for an unused node id as well. It is both plausible and probable that this would work, however using that discord channel is a risk because there is a chance that a bad actor could just rip you off. Full disclosure. That may or may not happen, but it could so just keep that in mind. You would be sending your node information to someone and they would send you payment, there is no smart contract for the exchange to take place so whoever sends first is open to getting stiffed.
From what I’ve been reading, a lot of people have said cloud nodes have not historically been profitable, this is true currently as well. It is best to research an investment before you get into it, lest you be running at a negative operating cost, as many others have found out the hard way.
As far as how to get the wallet.json and wallet.pswd files, I have no idea. I don’t have experience working with cloud services in that capacity. Perhaps someone who does use AWS can help.
Thanks Rfspades! That is helpful to know. Not sure how selling a node ID works but I might look into it.
After some researching, I figured out how to get the wallet.json and wallet.pswd files off AWS by using PuTTY which has a user friendly interface. If anyone is interested in my node IDs/the files, please DM me.
Hey, I am trying to send 10NKN for Generating ID but it keeps saying that Invalid Address. I am using Houbi Global and I Tried NKN wallet, NMobile Everything. Can you help?
Are you sending NKN mainnet tokens to the address for Generating ID? You can’t send NKN ERC-20 tokens to the address. This is a common issue that new users have.
You mentioned having tried NKN wallet (https://wallet.nkn.org/#/). I used NKN wallet to transfer NKN mainnet tokens to the address. I set the fee to 0.1 NKN. Did you set the fee to 0.1 NKN? If you did, then I’m not sure why it isn’t working for you.
Hi rubyr, her questions were answered in a thread she started. She’s all set now.