Masternodes: private key for collateral required?

  • I'm a happy BRO since the second crowd sale and decided to set up a masternode last weekend.

    Everything is working fine and my node keeps receiving regular payments. However, to get the node to activate properly, I had to import the private key to the collateral wallet on the server.

    Without the key, the node won't activate and just say "no suitable coins found".

    Now my question: Does a masternode really need the private key for its collateral wallet? Isn't the whole idea of the controller/node structure that this is not required?

    Sorry if this is a dumb question, I'm new to this whole masternode thingy.

  • @cryptic_monk hi, I don't know the answer to your question.. but perhaps you could help me with my problem - it appears I have the same error message "Could not find suitable coins!" when I start my masternode on the server. How did you import the private key to the wallet on the server? I've added 'masternodeprivkey=' key with the appropriate value to Bitradio.conf on the server.. is there anything else I have to do in terms of private key?

  • @cryptic_monk wow.. that's a really nice instruction, I will check how the private key part works for me..

  • @wiewiorka sure. Essentially I did ./Bitradiod importprivkey <your key> on the server. But my write-up contains some remarks as to why this might not exactly be ideal. And how to avoid leaking your key to .bash_history.

  • @cryptic_monk it worked for me! I no longer see "Could not find suitable coins!" message, and I see my node in the node list. It's interesting why other instructions didn't include the wallet private key export/import part. I understand that it's not secure but I'm also wondering how they managed to make it work.

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