Topic: The Invasion of MASTERNODES (Read 134 times)
I like the idea behind masternodes. PoS block solving with no power wastage is superior in every regard to hardware mining. The problem is there are too many weak MN projects on the market, and it's easy to get burned. On the other hand, buying into established projects like Dash etc. is out of reach for most people because they are just too expensive. I hold a few masternodes myself and I'm always on the lookout for new legit projects.
Well said. It's true that most people are in crypto for the money, very few people actually understand the technology behind masternodes...they just want fast money. I invest in masternode coins because I like the idea behind it. They sit on my wallet and generate rewards...can't get better than that, but you need to be careful which coins you buy because there are many scams.
True there are many scams, but there are also legit masternode projects out there worth holding long term. I am personally invested in quite a few of them.
Well said. It's true that most people are in crypto for the money, very few people actually understand the technology behind masternodes...they just want fast money. I invest in masternode coins because I like the idea behind it. They sit on my wallet and generate rewards...can't get better than that, but you need to be careful which coins you buy because there are many scams.
The unprecedented invasion of masternode coins was the inevitability bound to happen. New coins spring up like mushrooms every day with many of them unfortunately being cash-grab schemes or just plain bad projects with no innovative vision or purpose.
It seems like the key purpose of the masternode has been distorted. Masternode-based blockchains are stable, ultra fast and often anonymous, so why do we need to make it all about ROI? Investors are flocking to buy new masternode coins in presales because the fewer masternodes there are, the bigger the rewards.
But does it ever occur to them that a network with a lot of masternodes reflects a more stable coin, a more active dev team, more investors, a bigger community, and long-term potential.
Partly, it's the developers' fault because very few of them launch coins for the technology's sake. They set high collaterals to attract presale investors looking for high ROIs, but at the same time demotivate smart, longterm investors who don't panic dump their coins every time the price drops by 10%.
There are coins with less than a dozen active masternodes, but devs still boast about active development and value on exchanges. What people don't understand is that coins with more active masternodes have a more stable network and a better longterm potential. It's not all about the daily ROI. Dash, for example, has a measly MN reward of around 7-8% PER YEAR, but more than 70% of its supply is locked in masternodes. That's a true definition of a stable network.
My point is that masternode-based blockhains are a genius idea and we are ruining it for the sake of money. If I were to launch a masternode coin, I would set a very conservative collateral to attract smart, long-term investors who would support its value and keep the network stable for years to come.
I know it's too much to ask, but lets try and make it a mission to NOT ruin the genius concept behind masternodes. They weren't invented only for the sake of rewards.
It seems like the key purpose of the masternode has been distorted. Masternode-based blockchains are stable, ultra fast and often anonymous, so why do we need to make it all about ROI? Investors are flocking to buy new masternode coins in presales because the fewer masternodes there are, the bigger the rewards.
But does it ever occur to them that a network with a lot of masternodes reflects a more stable coin, a more active dev team, more investors, a bigger community, and long-term potential.
Partly, it's the developers' fault because very few of them launch coins for the technology's sake. They set high collaterals to attract presale investors looking for high ROIs, but at the same time demotivate smart, longterm investors who don't panic dump their coins every time the price drops by 10%.
There are coins with less than a dozen active masternodes, but devs still boast about active development and value on exchanges. What people don't understand is that coins with more active masternodes have a more stable network and a better longterm potential. It's not all about the daily ROI. Dash, for example, has a measly MN reward of around 7-8% PER YEAR, but more than 70% of its supply is locked in masternodes. That's a true definition of a stable network.
My point is that masternode-based blockhains are a genius idea and we are ruining it for the sake of money. If I were to launch a masternode coin, I would set a very conservative collateral to attract smart, long-term investors who would support its value and keep the network stable for years to come.
I know it's too much to ask, but lets try and make it a mission to NOT ruin the genius concept behind masternodes. They weren't invented only for the sake of rewards.
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