Today’s topic is MasterNode, that I’ve often posted about recently.
I’ve already posted this contents in Navercafe (Let’s become a building owner with MasterNode), and hopefully this posting is helpful for those who are interested in MasterNode.
What is the MasterNode?
• It’s a method of ’mining’ a coin with a certain amount of coin shares.
• After depositing a certain amount of coin shares in a wallet and setting the MasterNode for the first time, the mining will proceed for 24 hours / 7 days.
• Unlike the POW method, MasterNode is very attractive because it consumes less electric power and purchases coins instead of purchasing mining devices.
• It is possible to check the current status of mining at any time and withdraw coins that have already been mined.
It’s pretty easy, isn’t it?
Well, I guess your facial expressions would be as below..
Let me give you an example
I had a plan to build a pit for mining coins in the beginning of last year.
However, it took almost half a year to realize that it’s a foolish idea, and many people have lost money including myself.
I bought D3 Miner and Ethereum GPU digger at the price of 3-5 times higher compared to the original price, and invested thousands of dollars to build a mining factory with setting up the electric work. However, payability had dropped dramatically due to an increase of mining difficulty so many people who could not afford the electricity of mining devices went bankrupt or they are operating their business while biting the bullet. Even if the mining machine keeps working, it also contains potential risks including sudden breakdown and/or being outdated whenever a new machine comes out. However, the MasterNode is a mining coin that is almost perceived as a fraud for those who mine the coins with a mining machine. If you build the MasterNode with money that can be used for constructing the mining machines, it operates itself without management and can be stopped at any time.
Let’s assume that we had about $560,000 for preparing mining coins in May. $560,000 can be used for 130 units of Ethereum mining machines and factory rent, as well as the cost of constructing electricity. How much do you think we could have made by today with $560,000? I think we made less than $190,000 with a very positive assumption. Does the mining business have a good prospect? I’d say absolutely not…I think pretty much all coin miners would agree with this.
So then, what if you had built a Dash Master node with those $560,000 in May instead?
I’d definitely do that if I could turn back time…
For building a Dash MasterNode infrastructure, it would cost only $100 for the computer server and engineering costs. It means the cost for building electrical infrastructure doesn’t even need to be considered.
If I could go back to that time again..
I’d only pay for the computer server and technical costs which costs about $100 for building four DASH MasterNodes. The price of four Dash MasterNodes consisting of 4,000 Dash coins at that time was $525,000. The current price of those MasterNodes is approximately $1.4 Million for each, and total $5.7 Million..
Dash MasterNode used to have a 30% of ROI (Return On Investment) for Dash coins, and now it has approximately 8% of ROI. 8% of 1,000 Dash coins, which means 80 dash coins are returned, and it costs about $112,000 at the current price. To sum up, If there were Mr. A and B who considered building four Dash MasterNodes or Ethereum mining, they (stope) with $560,000,
Mr. A who chose an Ethereum mining stope with $560,000 only earned $200,000 ~ $350,000 which would be a lot less than investing in Dash MasterNodes. If we consider a mining profitability that should be decreased day by day, the expected ROI could be even lower.
On the other hand, Mr. B who chose four Dash MasterNodes, could have earned about $515,000 only for the increasing value of MasterNode, and received a total of 320 Dash coins which is the value of $460,000. From May to November, if we built four Dash MasterNodes, (with) 160 units of Dash coins which is about 4% of ROI at minimum, that it is the value of $230,000.
In other words, we receive both principle and interest for MasterNode, and we only receive interest for POW method coin mining. Also, it costs less than $1,000 for building MasterNode, and it costs even more than $20,000 for building a mining stope.
Which one would you choose?
Is the coin mining a right answer?
Or MasterNode is always the right answer?
The answer is… No one knows…
However, if I were you, I’d choose the MasterNode rather than mining.
I invested $43,000 for a mining stope before I knew about the MasterNode. I bitterly regretted that. I would definitely have invested in MasterNode instead of mining, if I had known that earlier.
The current price of Dash MasterNode is about $1 million which is too much money to invest! However, take a look at the below picture.
Do you see?!!! The price of Dash is only $2.5!!!
Building Dash MasterNode with that price could cost only $2,500. If we had invested only $3,000 for building 10 Dash MasterNodes, the value of Dash could have easily reached over $14 Million, and it could have been even more if we consider the interest.
Even NOW, there are many MasterNode Coins in the market just like Dash.
So, what do we have to do right now???
Try to find the 2nd MasterNode that has tremendous potential and invest in it!!!!
SmartCash has masternodes and its one of the cheapest ones out there right now. You need 10,000 of it but compared to Dash, It's super cheap.
Thank you for your information!
will take a look at SmartCash as well.
Was checking that one out, it's dirt cheap atm. Wonder why I can't find it at https://masternodes.pro/ ? Well the information is on their website.
Yep. It's a hidden gem with an awesome community. I wrote some articles on it, you can check it out on my blog.
Ok, will do.
DASH is too expensive so Imma check this one out!
I dont know abot masternode thank to sharing this information in post
welcome! feel glad you got some useful information via my posting :)
It's hard to pick one at least for me.
As I mentioned above, you should spend some time to investigate valuable coins for MasterNode.
Masternode coins is a new thread however, POW is more secured. The good news is we already have this kind of coin in the circulation, SmartCash. And the best part, setting up of masternode for this coin comes cheap.
yeah, I guess it's sort of like a transition period. I've also invested some of my portfolio to POW as well.
Want to join in our crowdfunded masternode?
https://steemit.com/zappl/@sames/the-crowd-funded-masternode-is-almost-ready