90% of Masternode coins are similar/ponzi's

[avgcryptojoe]

Hey guys,

I'm worried about all these masternode. I've read enough whitepapers to realize 80-90% of the projects are literally the same. The buyers and sellers are the same people. Buyers wanting to run a masternode and sellers are those who have a masternode that are selling the rewards. I've been through a lot of the websites it practically the same. Cosmos Coin took a dump on the state of masternodes which made me excited but then I checked their roadmap/features and they did nothing to distinguish themselves from their own criticisms.

The devs are almost always annonymous, so you do not know if its the same or a group of the same devs building a ponzi-ish scheme where they scoop up precious ETH/BTC for their shitcoin with high ROI. Great it has an amazing return but why? The projects are not revolutionary. I know 90% of your masternode whitepapers/roadmaps:

1: Listing on cryptopia or some slightly less shittier exchange.

2. Build a mac/andriod wallet

3. Merchant integration

4. Debit card

That's literally it. Do these coins literally think that's all there is to crypto? If that's the case why would anyone not use DASH for all these purposes as it is lightning years ahead. I think these dev teams that create masternode coins need to start doing the following:

1) Reveal yourselves and show your credentials. You want us to trust you to buy your shitcoin then you need to show us some good faith.

2) Create a new feature that nobody else has or stop pretending like darksend/instantsend is unique to only your coin. That's a function of any masternode.

3) Create projects on the backend of your economy. Look at PHIL's currency (not shilling) for a second. They are building projects that will utilize their PHILS token, thus creating an actual use case for their own coin. You need to actually build a service/product that provides the investor with some value proposition.

Guys there's a lot of projects to tackle that masternodes would be great for, think of atomic swaps, DEXs, platforms, ect.

Heed these warnings or I fear:

Once people realize the only utility of your coin is to get a high ROI and merchants/card companies don't give a shit about 90% of the shit masternode coins out there the price is going to jump off a cliff that it cannot recover from. By the time you reach that point (talking to devs) you will have lost the trust of your community that you worked so hard on. Let's do a better overall job on these coins which have a great backbone. Let's stop creating mindless ponzis.

Good projects with Masternodes:

DASH, PIVX, SMART, ALQO, WAGERR, PHILS, SEND, ESCROW, ZCOIN, INNOVA

[togoshigekata]

Ive noticed a lot of the masternode coins coming out are just clones, and almost all of them do not even use the proposal/budget feature...

I think BiblePay is a newer one that stands out though

======

BiblePay (BBP)
- 10% mined coins always go to Charity (already sponsoring 180+ Orphans monthly)  
- ASIC-Resistant like Vertcoin/Groestlcoin (CPU Mining Only)  
- fork of DASH (Masternode Governance, Proposals & Voting), 10% Monthly Budget for IT/PR/P2P Live  
- Proof of BibleHash (POBh) algorithm, All Nodes are Full Nodes  

Launched July 23rd 2017, Market Cap below 1 million, $0.0018 per BBP
https://bitcointalk.org/index.php?topic=2388064.0

IN DEVELOPMENT: Partnering with Rosetta@home to cure cancer with mining cycles

[avgcryptojoe]

Ive noticed a lot of the masternode coins coming out are just clones, and almost all of them do not even use the proposal/budget feature...

I think BiblePay is a newer one that stands out though

======

BiblePay (BBP)
- 10% mined coins always go to Charity (already sponsoring 180+ Orphans monthly)  
- ASIC-Resistant like Vertcoin/Groestlcoin (CPU Mining Only)  
- fork of DASH (Masternode Governance, Proposals & Voting), 10% Monthly Budget for IT/PR/P2P Live  
- Proof of BibleHash (POBh) algorithm, All Nodes are Full Nodes  

Launched July 23rd 2017, Market Cap below 1 million, $0.0018 per BBP
https://bitcointalk.org/index.php?topic=2388064.0

IN DEVELOPMENT: Partnering with Rosetta@home to cure cancer with mining cycles

Is the team revealed?

[r1s2g3]

3) Create projects on the backend of your economy. Look at PHIL's currency (not shilling) for a second. They are building projects that will utilize their PHILS token, thus creating an actual use case for their own coin. You need to actually build a service/product that provides the investor with some value proposition.

I did not find anything about PHILS, Can you provide me link to ANN.

This is not only about Master Nodes, we have very large number of scam coins, that are successfully listed in exchange.
Every body should  be aware of these points before investing in any project.

https://bitcointalk.org/index.php?topic=2856723.msg29432489#msg29432489

Money of investor should not go in pockets of these scam coin developers.

[ronnylov]

Monoeci and Crown seems like good masternode coins with a purpose. It is hard to find the good 10% Masternode coins.

[ItBeginInAfrica]

not all masternode coins are going to disappear or crash overnight...just try to avoid what is clearly unsustainable
as 5000% rewards or similar. Also try not to fall in love too much with the coins cause sooner or later it is
advisable to sell a masternode and begin again with another masternode coin

[avgcryptojoe]

not all masternode coins are going to disappear or crash overnight...just try to avoid what is clearly unsustainable
as 5000% rewards or similar. Also try not to fall in love too much with the coins cause sooner or later it is
advisable to sell a masternode and begin again with another masternode coin

A lot of masternodes have been crashing in the dead of night actually.

[mu_enrico]

Instead of 90%, i'd say 99%. Just wait for the other 9% to fail  

Decentralize concept cannot use master - slave system
Each node should be able to fully verify transaction in trust-less mechanism
I personally will never invest in MN coins

[stooky]

Why is PHILS a good masternode coin?

[etherbuxx]

when you see masternode online list, some give as higher than over 500% to participants.

[GrandBcn]

There are also some good projects with real money investments where masternods are not the main purpose but only additional feature. Check Titanium for example, they wanna build blockchain as a service for companies and bussines, but planned masternodes will be as additional feature only. I prefer to choose such type of projects.

[Fahim]

I agree with you. Masternode is not the same as buying some altcoins and losing money. Masternode is very expensive. And if this turn out to be a failure, the loss will be from 20 000 to 100 000, and even more. Therefore, I'm afraid to buy cheap Masternode, but for expensive I do not have enough money. You're doing smart that you try to understand it all.