Topic: Cryptkeeper's 2018 Masternode Rant (Read 157 times)

Right, Dash and PIVX were really the only ones that benefited from MN's overall. There's such an insane amount of new MN projects coming out per day it's unreal. Take a look at Altcoin Announcements and 23/25 of the posts will be MN based, with many brand new posts, it's almost as bad as ICOs.

@sylance - I'm not saying all MNs are scams, but right now most are and are claiming low supply and high ROI and then disappearing within 2 months. This has happened countless times already and I'm genuinely surprised more people aren't talking about this. With regards to Bitcoin taking up a lot of power, just like mining gold, that's how it gets its value.

I got to know about masternodes and the possibility of earning passively from it late December 2017. Fast forward to this month when I decided to take a step and decided to log on to masternodes.online, the sheer number of mastenode projects put me off. So far Dash is the only credible project amongst them and that is way beyond my resources.

I agree with your general premise that the trend appears to be Masternodes and that some are terrible projects, but that doesn't make them all wrong.  You seem like someone who's heavily invested in mining and wants all coins to be PoW... but that simply isn't a wise use of power.  New consensus models have to be considered; as Bitcoin continues to scale the power consumption becomes unreasonable.  According to this website, Bitcoin is consuming as much electricity as Israel.

https://digiconomist.net/bitcoin-energy-consumption

Likewise, PoW also consolidates power into mining farms while it also eliminates the opportunity for many people across the globe.  People who have expensive electricity can't reasonably compete in PoW so what are they to do?  Are they just screwed in your PoW world economy?

wow that's ignorant.

Iwouldn't call bitcoin fair.  Bitcoin basically has a premine ,  Satoshi holds over 1 million coins just from mining.  Only a few people even knew about bitcoin at the start , might as well call it a premine in my book.

bumping for the sake of all that is holy in this godforbidden world.

It's starting to look a lot like SHITMESS! Remember the ICO craze of 2016/2017?? Well the shitstorm is officially in diarrhea mode and it's all about MASTERNODES BABY! */add Sarcasm and Baby Puke*

So many NEW and SHINY "Masternode Coins" are coming out, hundreds by the day almost. All you see in Altcoin Announcements are coins claiming to have Masternodes with SUPER LOW SUPPLY and SUPER HIGH ROI, when in reality many of these MN projects disappear after a few months and leave whoever spent $$$ on MN's in the dust. People need to be really careful with this, most of these projects are flat out horse shit and the only ppl profiting are the asshole devs who dump as soon as it makes its way onto an exchange or rip you off via OTC. Most of the MN coins are being disregarded on exchanges but CryptoBridge and other dirty cheap exchanges seem to be happy to house them for a small fee.

The only 2 projects that really made MNs noteworthy were Dash and PIVX and sadly those are long gone if you want to be an MN holder. As much as I'm all for making ROI in this space, Masternode projects are the new "shine my shoes with shit coin" and sadly their pumping them out as fast as a cocaine fueled hooker with 97 vaginas, to the point some of the names of these projects are obviously bot driven on a large scale.

For reference, take a look at the almost infinite list of MN's over at masternodes.online to get a feel for how many MNs projects are puking up every 2 min. LOOK I GET IT, MN'S MAKE YOU $$$, BUT 99% WILL FCK YOU.

Projects that actually have PoW relevance are the projects that start with 0 pre-mine with a fair launch like Bitcoin, REMEMBER BITCOIN!? Also 99% of the time don't have masternodes to sucker in the idiots deciding to waste money on a VPS and 30,000 MAMBOcoins for example.

Ravencoin started with 0 pre-mine, fair distribution, has an open and active dev team and isn't asking ppl to giveup their firstborn for a masternode. Ravencoin is a great example of a solid project in the PoW space and it pains me to see the good projects like this so far and few between.

To wrap this fire of a shitpost up, not all MN projects are crap but 99.89% of them are. Be careful, and don't let greed fuck you in the pooper.