Isn't a proof of stake just a sneaky little word for ICO?

Digital Drug Lord

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Quote from: ItsEzMkay on January 15, 2018, 11:32:27 PM

They are wildly different because with POS you will have a coin on the market but ICO means you have to trust the team and hope they come to market. Completely different in every regard I don't even know how you came to compare the two. Sneaky words for ICO are ones like TGE (token generation event) not POS that is actual mining bro.

so if I open up and empty wallet and leave it online with no coins I will start to get paid?

ItsEzMkay

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They are wildly different because with POS you will have a coin on the market but ICO means you have to trust the team and hope they come to market. Completely different in every regard I don't even know how you came to compare the two. Sneaky words for ICO are ones like TGE (token generation event) not POS that is actual mining bro.

feelideb

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fLibero.financial

I do need think buying more coin to create a masternode is the same as ICO. The logic that drive both ICO and masternode based coin are different. For a coin to start POS, it must have had a fair mining s distribution and an history. ICO on the other hand is or should be finite!

Digital Drug Lord

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Quote from: Agozyen on January 15, 2018, 10:20:43 PM

Proof of Stake is a great way for people to generate coins without having to buy hardware. Either way, there is a cost associated with getting up and running with mining or staking. You have to pay to play.

yeah but if you invest in a GPU you can always sell it or play games with it or mine with it

with this proof of stake, if your coin goes south you lost your investment. With a GPU you can always mine another coin.

Im going to stay away from POS for now on, should be called piece of shit if you ask me, they wont even give you a coin for letting you use your pc and electricity, at least with CPU miner you can get something

Agozyen

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Until the end

Proof of Stake is a great way for people to generate coins without having to buy hardware. Either way, there is a cost associated with getting up and running with mining or staking. You have to pay to play.

Digital Drug Lord

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Quote from: lakimens on January 15, 2018, 08:45:24 PM

What the fuck are you even on about guys? Masternodes are scam? ICO's are scam? What?
Neither business model is by itself a scam. Now if a project disappears with your money, that is a scam.

Masternode perfect for both you and the developers, their coin value rises, but so does yours and you get more coins in return.
ICO is the perfect way to kickstart a project, admittedly, most of the projects ask for way too much money, but then again, you don't have to invest if you don't like it.

big difference is that as a miner you can mine and become part of something and gain wealth maybe

if I just download leave my wallet open with a proof of stake coin and I have 0 coins how many coins do I make a day week month for letting a POS coin use my PC or what ever? Will I get like 20 or 30 a day ? 0 a day?

sylance

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Yea, this is pretty misguided. Proof of Stake and Masternodes are just another way to protect the blockchain. Mining is nothing more than preventing a hostile take over of the chain... at the cost of expensive hardware and electricity. PoS and MN are doing the same thing but instead of hardware and electricity it comes at the cost of the coins. Nothing stops you from waiting until the ICO is over, watching the project to ensure it delivers on it's promises then investing in PoS or MN.

lakimens

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PVxYGaa1UZM6oDqW3ZKe4Esi18DgwBpDkr

What the fuck are you even on about guys? Masternodes are scam? ICO's are scam? What?
Neither business model is by itself a scam. Now if a project disappears with your money, that is a scam.

Masternode perfect for both you and the developers, their coin value rises, but so does yours and you get more coins in return.
ICO is the perfect way to kickstart a project, admittedly, most of the projects ask for way too much money, but then again, you don't have to invest if you don't like it.

Digital Drug Lord

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Quote from: makishart on January 15, 2018, 06:37:30 PM

Quote from: Digital Drug Lord on January 15, 2018, 05:09:53 PM

So if I mine with my gpu I get paid in coins
Maybe I'm wrong but I see alot of new coins offering masternodes for owning a certain amount but since it can't be mined there only other way to to buy the coins and stake. them

How is this not like an ico where you have to buy in to maybe get rewards later?

That's why people are calling the master nodes coin just like ico, you must buy certain amount to able staking your coin or to become the master nodes. It's a little bit lie in my opinion.
In ico you can get it so cheap and in master nodes you must pay more to get yourcoin. As far as i understand about there is no different between ico and masternodes.

yeah I kind of figured this . im learning more as I go along but POS and masternodes seem like a scam

makishart

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Quote from: Digital Drug Lord on January 15, 2018, 05:09:53 PM

So if I mine with my gpu I get paid in coins
Maybe I'm wrong but I see alot of new coins offering masternodes for owning a certain amount but since it can't be mined there only other way to to buy the coins and stake. them

How is this not like an ico where you have to buy in to maybe get rewards later?

That's why people are calling the master nodes coin just like ico, you must buy certain amount to able staking your coin or to become the master nodes. It's a little bit lie in my opinion.
In ico you can get it so cheap and in master nodes you must pay more to get yourcoin. As far as i understand about there is no different between ico and masternodes.

llordic

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Quote from: Digital Drug Lord on January 15, 2018, 05:09:53 PM

So if I mine with my gpu I get paid in coins
Maybe I'm wrong but I see alot of new coins offering masternodes for owning a certain amount but since it can't be mined there only other way to to buy the coins and stake. them

How is this not like an ico where you have to buy in to maybe get rewards later?

If there is a good business/token plany, why would it be sneaky?
Bother ivnestors and project are getting benefit of it.
Some are doing it sneaky way though.

Digital Drug Lord

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Activity: 308

Merit: 12

So if I mine with my gpu I get paid in coins
Maybe I'm wrong but I see alot of new coins offering masternodes for owning a certain amount but since it can't be mined there only other way to to buy the coins and stake. them

How is this not like an ico where you have to buy in to maybe get rewards later?

Topic: Isn't a proof of stake just a sneaky little word for ICO? (Read 137 times)