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9768989 No.9768989 [Reply] [Original]

Wtf is a masternode? I always assumed they're ponzis to trap idiots in retarded coins and haven't looked further

Do they just pay you for validating transactions? Wtf is "staking"? Just locking your retarded coins in a smart contract in order to prove you're really trapped in their network? What if all "master nodes" are in the same city? There's still no decentralization and you may as well pay AWS to validate your shit instead of random idiots. Or are they just the "miners" in dPoS like block producers in eos?

>> No.9769004

>>9768989
nobody cares if you live or die, except Jesus.
Do your research and fuck off.

>> No.9769014

>>9768989
Those that were here a year ago remember the debacle of PoSW and its staking and dividend memes. Since the run to $3000 and beyond a little later, people have totally lost sight and what was once obscene is now commonplace.

>> No.9769049

>>9769004
>research
lel kys

>>9769014
Cool but I wasn't here here a year ago

>> No.9769092

>>9768989
>always assumed they're ponzis to trap idiots in retarded coins

They are

>> No.9769106

>>9769092
But I've seen even people who are not super dumb mentioning them. Like Flood from Bitmex saying he got a masternode lol

>> No.9769124

>>9769092
This

These projects will only last a couple years so making a % ROI makes no sense. Unless it is 100 or 200% you are just dumping your money in a hole. Chinks love this shit though.

>> No.9769126

Also if they penalize you for downtime, then you're obviously not gonna run your node on your home computer. So everyone will end up using a service for master node hosting, which may be the same service (AWS)

So if AWS has down time the whole network goes down

>> No.9769138

>>9769124
If it's 100% or 200% guaranteed ROI then it's obviously a scam that will last one week tops

>> No.9769141

>>9769106
These masternode coins are just trying to become "the next world currency"

They offer nothing revolutionary. Pick projects which will have a future

>> No.9769153

>>9769138
That's the point you mong. You can't retire on your dividends for a project with a 2 year speculative shelf life. Especially chink scams.

>> No.9769161

COLX it's a good masternode. Cheap on tradesatoshi atm

>> No.9769163

>>9769161
Why is it good

>> No.9769510

>>9769163
its not there has being a coordinated colx shilling here and it reeks

>> No.9769541

>>9768989
I thought they were a scam at first too, and there are certainly scams in the space.
However, think more carefully about what decentralized coins are and what a masternode represents.
The people working on decentralized coins are the community of coin owners. Masternodes just selects for semi-permanent whale status among people interested in supporting the network (by holding a large amount of supply).
Each MN holder has to at least understand what a MN is and how to set it up. It's a filter for technical competence and risk acceptance. Two important traits in any entrepreneur.

>> No.9769582

Masternode:
A masternode is a computer connected to and communicating with other computers in the network to perform specialized functions such as such as relaying transactions, enabling InstantSend, PrivateSend, hosting decentralized apps and other things. Masternodes are run by individuals in the network to support the crypto goals and so are incentivized or compensated for the operation.

Source: https://blog.diviproject.org/glossary-of-cryptocurrency-terms/

Now to shill: 90% of projects offering masternodes are BS. Gotta sift through the shit to find a solid project - take a look at DIVI, join the telegram, check out their roadmap/github. They've got a good amount of media, but they are low key on marketing until their mainnet comes live on June 25th (in beta testing now).

>> No.9770223

>>9768989
Forget about them, they are a trap for the gullible. Just look at the POSW/XSN disaster.
About 10 masternode coins are created daily and their value goes to zero in a few weeks, or the founder exit-scams directly after selling a couple of nodes.

There is no free money.

>> No.9770602

>>9770223
There is such a thing as free money and it's value is whatever we decide it to be. Panic sellers like you eventually leave the project and let us value our contributions higher, eventually.