Masternodes/POS the future of mining?

[adamantasaurus]

So I started mining with GPU's bought a few asics and sold everything before the summer began (because last summer it was just not comfortable in my place with all my miners lol). I really love the idea of mining and generating coins there are so many different ways to mine. I recently got interested in masternodes it only costs me $15/mo to run 4 vps servers (vs. $500-$800/mo in electricity with POW mining) SO I know there are a lot of masternode scams and was told before I got into them to be very careful (I ended up only getting burned badly with one coin) every other coin I invested in turned out to be a pretty solid project.

SO I'm curious what does the community think will POS/masternodes phase out the physical POW mining protocol I really think there are a lot more advantages of POS over POW, what do you all think?

good day

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[edwardceng]

Masternodes has become alternative to investment and getting a profit with a way saving some coin in the wallet. I think POW more a profitable unless mining that's a coin as long as POW and saving some coin on wallet until the time of POW is over.

[Kryptowolf512]

There are a lot of scam PoS coins and Masternodes.
They promise you a ROI with 30 days... you can look at www.crypto-coinz.net/ for a lot of masternode coins. But you will see what I mean
You should go for safe projects like Ethereum. Ethereum is not PoS currently but will be in the future, or NEO that produce GAS.

[edwardceng]

yes, it must be more careful in choosing a coin, but I see that Masternodes is a new variant that has been reborn in cryptocurrency other than Mining and trades some coins.

[DevelopmentBank]

Theoretically, POS is a much more efficient way to deal with crypto transactions, the problem is, the technology is far from being useable in the real world. To date, nothing can really beat the transactional security afforded by 10000 GPUs on POW compared to a few thousand CPUs on POS. We will get to the point where POS reigns supreme, but right now we are not there yet.

With regards to masternodes, theres a lot out there and i guess you just have to take a risk in investing on the right ones. I am personally risking a lot on the OPCX masternodes right now.

[adamantasaurus]

Theoretically, POS is a much more efficient way to deal with crypto transactions, the problem is, the technology is far from being useable in the real world. To date, nothing can really beat the transactional security afforded by 10000 GPUs on POW compared to a few thousand CPUs on POS. We will get to the point where POS reigns supreme, but right now we are not there yet.

With regards to masternodes, theres a lot out there and i guess you just have to take a risk in investing on the right ones. I am personally risking a lot on the OPCX masternodes right now.

Yea I invested in about 14 different ones and out of those 14 only 1 turned out to be a straight up scam lost a good deal of money

[Geraldo]

Yea I invested in about 14 different ones and out of those 14 only 1 turned out to be a straight up scam lost a good deal of money

How about your Raspberry Pi project? (I still remember your shitty old HP laptop) 

I know that your context is more to investment to make a profit (not the mining process itself). On the investment context may you were right, PoS more efficient, less costly, easier than PoW, and so on. (I ignore the risk of scam)

On the technical sides, I agree with DevelopmentBank.

To date, nothing can really beat the transactional security afforded by 10000 GPUs on POW compared to a few thousand CPUs on POS.

in another word, PoW more secure than PoS (at least the bad guys need more effort to make the network down [it was expensive, right?]) 

[CryptoStats]

I don't know if it's the future of mining... I invested in few PoS masternodes and they're pretty new projects.

I think PoS masternode bubble ended few months ago. I saw coin developers selling first masternodes in auction (5 BTC) and now coin is abandoned. Masternode price now is 15$.

[texgeek]

I loose lot money on MN's...

Today i keep running just one MN (POLIS),

All others scams or fake projects,

Thats problem with MN.

I still buying universa UTN , because they will launch MN on future , and this project to my opinion is solid.

[adamantasaurus]

Yea I invested in about 14 different ones and out of those 14 only 1 turned out to be a straight up scam lost a good deal of money

How about your Raspberry Pi project? (I still remember your shitty old HP laptop) 

I know that your context is more to investment to make a profit (not the mining process itself). On the investment context may you were right, PoS more efficient, less costly, easier than PoW, and so on. (I ignore the risk of scam)

On the technical sides, I agree with DevelopmentBank.

To date, nothing can really beat the transactional security afforded by 10000 GPUs on POW compared to a few thousand CPUs on POS.

in another word, PoW more secure than PoS (at least the bad guys need more effort to make the network down [it was expensive, right?]) 

Ah I see what your saying because there are more miners than there are masternodes usually so the network is more secure

Im actually writing to you on my shitty HP laptop right now lol. And I still have not had the time to mess around with the raspeberry pi's I got the learning curve would take a lot of time. But I did order a mini ASUS pc stick to stake on

[Geraldo]

Ah I see what your saying because there are more miners than there are masternodes usually so the network is more secure

Yeah, not just the number of the active client, but also the protocol itself.

Im actually writing to you on my shitty HP laptop right now lol.

I glad to hear that. 

And I still have not had the time to mess around with the raspeberry pi's I got the learning curve would take a lot of time. But I did order a mini ASUS pc stick to stake on

Sound good. 
I manage servers in a few offices (my clients), and I have full control of those servers. Maybe I should talk about this Proof of Stake with them (I don't want to cheat them). My last PoS coin is Peercoin (it was a long time ago), maybe I'll try it again this time (if they permit) 

[togoshigekata]

Ive read a few negative things about PoS (Proof of Stake)

"The Inevitable Failure of Proof-of-Stake Blockchains and Why a New Algorithm is Needed (Op-Ed)"
https://cointelegraph.com/news/the-inevitable-failure-of-proof-of-stake-blockchains-and-why-a-new-algorithm-is-needed

"Proof-of-Stake & the Wrong Engineering Mindset"
https://medium.com/@hugonguyen/proof-of-stake-the-wrong-engineering-mindset-15e641ab65a2

But I do not consider myself an expert, my mind is very open

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I love Masternodes though! The Monthly Budget is the key feature.
I think we will start seeing more masternode coins rise,
But you still need a way to secure the blockchain,
masternodes just help provide governance, self budget, privatesend and instantsend

[john1010]

I loose lot money on MN's...

Today i keep running just one MN (POLIS),

All others scams or fake projects,

Thats problem with MN.

I still buying universa UTN , because they will launch MN on future , and this project to my opinion is solid.

Your post is a big help for me, I'm on the process of searching an MN base coins, since I'm a miner and we all know that the GPU mining is on the struggling stage now, I am looking for diversity and that is Masternode mining, I am aware now of every project offers MN.. I am watching on this thread..

[Mike011]

POS is the same thing as if you would put your money in the bank and leave it there for an interest. So it has nothing to do with "mining". FYI

[jmigdlc99]

POS is the same thing as if you would put your money in the bank and leave it there for an interest. So it has nothing to do with "mining". FYI

Well not really unless you are doing POS with a third party service. Real POS involves having a dedicated computer/server turned on 24/7 to also validate any transactions that are sent your way. So technically, yes, it is still mining, mining transactions at the cost of "staking" your coins in case you try and do anything something malicious.

POS could be the future, but until real coins like ETH implement it, i wouldn't decide anything yet.

[Galley]

I like Masternodes. Not so long ago, I was already thinking about a possible acquisition. However, the main disadvantage of this issue is the inability to be sure of the reliability of the project. After all, to lose a lot of money, I have no desire. Although this topic is very interesting to me.

[Mike011]

POS is the same thing as if you would put your money in the bank and leave it there for an interest. So it has nothing to do with "mining". FYI

Well not really unless you are doing POS with a third party service. Real POS involves having a dedicated computer/server turned on 24/7 to also validate any transactions that are sent your way. So technically, yes, it is still mining, mining transactions at the cost of "staking" your coins in case you try and do anything something malicious.

POS could be the future, but until real coins like ETH implement it, i wouldn't decide anything yet.

No it is not. Your "mining" is actually supporting the network for free. And just like the bank, your share(interest) depends on the size of your stake. But, unlike the bank, the amount of risk is ridiculous.

[grendel25]

If we're going to talk speculative future I like to look back on history.

Maybe 2013 was the year of bitcoin when it finally got everyone's attention by beating the price of gold per ounce after being introduced in 2009.  The hype was short-lived and spoiled by Mt Gox and probably other scandals.  4 years later bitcoin again took the stage about a year after halving, similar to what we say for 2012/2013 with bitcoin.

2017 was also the year of the ICO and now 2018 is the year of the masternode.  What will 2019 be the year of?  Okay, let's not get ahead of ourselves and stick with the history theme here...

So here we are in 2018... I think what we are witnessing are hype cycles around assets that have proven to be durable over the course of time and highly reliant upon the community of developers and users supporting them.  So let's consider bitcoin again.  

2009 was the genesis and it took roughly 4 years for it to be appreciated as a monetary success.  Ethereum's genesis was 2015 and about 2 years later it gained a boon from ICOs.  So Bitcoin took around 4 years for wide-spread-MF'ing panic while Ethereum was about 2 years for the ICO explosion.  Okay, obviously these are apple/oranges comparisons.  Still, there are notable similarities and parallels into Masternode coins.

My point is this:  Masternode coins are viable and do have a good chance to be successful.  How anyone quantifies that success is a matter of various metrics.  Essentially, cryptocurrencies serve the same basic function but come with various features that make them unique.  But at the end of it all... what really matters for the investor, user, developer, etc is that there be some measure of value transferrable from various products/services to the digital blockchain.  This will continue to drive interest in blockchain as it always has and this is why we are all sitting here entertaining such ventures.

[Mike011]

Masternode coins are viable and do have a good chance to be successful.

Based on what?

[grendel25]

Masternode coins are viable and do have a good chance to be successful.

Based on what?

Dash for starters.