Theta Labs' THETA and TFUEL

[pmbug]

I'm somewhat new to this site and am surprised there doesn't appear to be a discussion dedicated to THETA and TFUEL.  This seems like a really promising project.  They just held an AMA and showed off some of the developments in the pipeline and there is a lot happening.

Executive Summary (helicopter view):

• THETA is governance token (can be staked to earn TFUEL).  THETA is currently capped at 1 billion tokens.
• Theta Edge Node software can be downloaded and installed on any Windows or Linux computer.  The Edge Node software can perform jobs for the Theta Edge Cloud computing network.  Each job your Edge Node completes earns TFUEL (or another TNT token such as LAVITA).  The jobs are currently related to either AI processing or video processing.
• You can stake TFUEL to your Edge Node to upgrade it to an Elite Edge Node earning 3-4x more TFUEL

In the AMA they showcased more AI and video processing technology that they are rolling out.  They are also partnering with centralized cloud computing providers like Amazon Web Service to provide backup computing power.  They also mentioned that Edge Node for Android is coming "within weeks".

They are aiming to become the most scalable and cost effective cloud computing option available for AI applications (and graphics processing).  Seems like a huge growth market to me.

[hugeblack]

We deal with it as a dual network, Theta Edge Network and the Theta Blockchain. You can find a lot of discussions about the Theta Blockchain, which was popular in 2021, and then interest in blockchain decreased until it returned again with the Edge Network. I think the reason for the lack of interest in it here is the focus on aspects Blockchain and profit more than AI.
With the increase in the price of TFUEL, we may see more interest in blockchain, although I do not think that anything special will happen.


+1 for good topic

[Crwth]

To be clear, is this the coin you are talking about?

https://coinmarketcap.com/currencies/theta-fuel/

It seems an interesting coin with every post mostly seeing bullish sentiment. It has also reached a significant increase in volume in the last 24 hours. I will be on the look out for this coin.

[pmbug]

To be clear, is this the coin you are talking about?

https://coinmarketcap.com/currencies/theta-fuel/
...

That is the TFUEL coin.  There is also a governance coin that is capped on supply called THETA:

https://coinmarketcap.com/currencies/theta-network/

You need at least 1,000 THETA in order to stake your THETA.  Staking THETA earns TFUEL (and possibly some other TNT token) rewards. 

Separately (completely independently), anyone with the appropriate hardware can download and run the Edge Node software and earn TFUEL while the Edge Node software runs in the background.  See here for more info:

https://docs.thetatoken.org/docs/setup-theta-edge-node

If you run an Edge Node, you can stake TFUEL to your Edge Node wallet address (turning it into an Elite Edge Node) and you earn even more TFUEL.  You need 10,000 minimum TFUEL in order to stake to your Edge Node.

Computers with CUDA enabled NVIDIA GPUs (graphic cards) can earn even more TFUEL for completing some jobs than computers without the CUDA enabled NVIDIA GPUs.

I've been running a couple of Elite Edge Nodes for about a month now.

[Crwth]

That is the TFUEL coin.  There is also a governance coin that is capped on supply called THETA:

https://coinmarketcap.com/currencies/theta-network/

You need at least 1,000 THETA in order to stake your THETA.  Staking THETA earns TFUEL (and possibly some other TNT token) rewards. 

Separately (completely independently), anyone with the appropriate hardware can download and run the Edge Node software and earn TFUEL while the Edge Node software runs in the background.  See here for more info:

https://docs.thetatoken.org/docs/setup-theta-edge-node

If you run an Edge Node, you can stake TFUEL to your Edge Node wallet address (turning it into an Elite Edge Node) and you earn even more TFUEL.  You need 10,000 minimum TFUEL in order to stake to your Edge Node.

Computers with CUDA enabled NVIDIA GPUs (graphic cards) can earn even more TFUEL for completing some jobs than computers without the CUDA enabled NVIDIA GPUs.

I've been running a couple of Elite Edge Nodes for about a month now.

Thank you for the information with what you have posted. Now I understand that you can use THETA to stake but it requires a lot. At today's pricing, it's going to be at least 2000 USD. You would need to have a lot of money to start.

Is this already ongoing? If you stake and use their products, would you have an airdrop of it or something? Or it's already done?

[pmbug]

There is a fixed supply of THETA at 1B and the full (public) supply was made available several years ago:

...
The initial token launch date for THETA is Dec 2017. THETA was launched as an ERC20 token on Ethereum, and then upgraded to mainnet on March 15th, 2019. The maximum supply of this token is capped at 1,000,000,000, .... The supply of Theta is expected to be fully vested by 31 Dec 2018.
...

https://www.coingecko.com/en/coins/theta-network/tokenomics

The initial investment for a staking position in THETA does run $2k+ right now.  The fixed supply, like BTC will eventually attain, is highly deflationary.  The value of the token should grow as the value of their Edge Cloud service (the network of Edge Node computers) matures.

That said, you can download the Edge Node software for free to earn TFUEL while you use your computer.  If you are using a computer for many hours a day anyway, why not earn some crypto while you are doing it?

To upgrade an Edge Node to an Elite Edge Node is optional.  That costs roughly $1k to acquire 10K TFUEL right now.  You can always try out the Edge Node software (it's super easy to install and run/use) and upgrade it later if you like.

[Zed0X]

~
I've been running a couple of Elite Edge Nodes for about a month now.

How's the return/turnout so far? I am guessing you are already using a computer and graphic cards that you already bought before (no additional investment) but does running the node increase your electricity consumption?

[pmbug]

How's the return/turnout so far? I am guessing you are already using a computer and graphic cards that you already bought before (no additional investment) but does running the node increase your electricity consumption?

When I first started, I installed the Edge Node on my internet browsing/email computer that generally runs 24/7 anyway.  This computer did not have a high end graphics card and I had not staked TFUEL to upgrade the Edge Node to an Elite Edge Node.  It earned roughly 5 TFUEL and a negligible amount of LAVITA over the course of a month.  I was not going to get rich with this set-up, but something is more than nothing for a computer that was always on anyway.

I later found a refurbished computer with a CUDA enabled NVIDIA graphics card for sale for about the same price as buying the graphics card alone would have cost me.  I replaced my old internet/email machine with the new one, configured the CUDA stuff and ran the Edge Node on it.  I also bought and staked 10k TFUEL on this machine (upgrading it to an Elite Edge Node).  Over the course of one month, this machine earned around 120 TFUEL (from completing jobs and from staking rewards) and 240 LAVITA.  It's on pace to return greater than 10% of my TFUEL stake over the course of a  year.

I have not done an analysis on my electric bill, but what I can tell you is that the Elite Edge Node is processing jobs on average about once an hour (sometimes more, sometimes less).  Jobs generally take less than a minute to process.  While processing, the GPU card's fan will activate.  Since I'm running the EEN in the background while I'm doing other things, that's often what alerts me to when the EEN is processing a job.  In other words, the GPU is very active for about 20-30 seconds once an hour or so.  I don't think it's generating that much heat or using too much excess power.