Masternodes/POS the future of mining?

[markiz73]

POW mining requires expensive equipment for POS mining needs coins.
POW coins have the cost of production, the cost of POS coins tends to 0.
With equipment for mining you can mine different coins. You are not attached to one coin, if its rate has fallen, then you can get another.
If the coin POS rate fell, you lost money.
POS mining resembles a game with chairs, only it has 100 players and 10 chairs. 10 sit on the chairs, the rest on the ass

[1715364749]

1715364749

[mimagneto]

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

Honestly, I think that all forms of mining will continue to grow and be developed.  Also perhaps even new forms of mining will be created and perfected as well.  Some of my favorite ways of mining are Masternodes and Proof of Stake mining, and perhaps some of the most advantageous as well.  If we look at Cryptocurrencies and Blockchain Technology as a whole, we're literally in the infant stages of development.  It's truly an amazing time in human history to witness the birth and rise of one of the greatest inventions humanity has seen in a very long time.

mimagneto

[enhu]

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

Honestly, I think that all forms of mining will continue to grow and be developed.  Also perhaps even new forms of mining will be created and perfected as well.  Some of my favorite ways of mining are Masternodes and Proof of Stake mining, and perhaps some of the most advantageous as well.  If we look at Cryptocurrencies and Blockchain Technology as a whole, we're literally in the infant stages of development.  It's truly an amazing time in human history to witness the birth and rise of one of the greatest inventions humanity has seen in a very long time.

mimagneto

Agreed 

There are some Masternode coins I would like to try, I think its very legit like the Bubbletone that recently did an ICO. I don't think they are scam because they partnered with lots of telcos and they are up and running already. They haven't publish yet about how to set up their masternodes, I'm just wondering whether its worth the while  and can we get enough to pay the monthly bills like the $15/month.

Which hosting did you inquire where you can only pay $15/month for 4 VPS?

[markiz73]

The main reason for the development of cryptocurrency is their price.
People often confuse the Blockchain Technology and the scam that we see on the forum.
All new POS coins generally do not bring any benefit, but are made for pamps on crypto-exchange exchanges.
To release a scam, a team of several people and several rented servers are needed.
The blockchain technology has been in operation for about 9 years, and only a few coins are useful.

[mimagneto]

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

Honestly, I think that all forms of mining will continue to grow and be developed.  Also perhaps even new forms of mining will be created and perfected as well.  Some of my favorite ways of mining are Masternodes and Proof of Stake mining, and perhaps some of the most advantageous as well.  If we look at Cryptocurrencies and Blockchain Technology as a whole, we're literally in the infant stages of development.  It's truly an amazing time in human history to witness the birth and rise of one of the greatest inventions humanity has seen in a very long time.

mimagneto

Agreed 

There are some Masternode coins I would like to try, I think its very legit like the Bubbletone that recently did an ICO. I don't think they are scam because they partnered with lots of telcos and they are up and running already. They haven't publish yet about how to set up their masternodes, I'm just wondering whether its worth the while  and can we get enough to pay the monthly bills like the $15/month.

Which hosting did you inquire where you can only pay $15/month for 4 VPS?

Hey bro,

If you go and try out Vultr.com, you'll be able to get a VPS for only a few bucks per month.  For instance, if you UL your own ISO file, this saves you a bunch of money monthly.  Also then you can choose Linux, which is a less expensive option as well.  There's also a $25 coupon that you can get just for signing up with them.  Here's the direct link to the coupon and signup.  https://www.vultr.com/promo25b?service=promo25b   They give you $25 just for signing up, a few weeks ago it was $100 coupon. 

mimagneto

[raghovsing34]

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$.

There have lot projects like your. They can't control their coins price and they sell out their coins and dump the price.

[Esterklu]

POS doesn't require any special equipment, also there is no a running cost, i.e. it is just a regular electricity consumption of your laptop. Let's say, POS is accessible for everybody easier than POW. That's why i prefer this way. Also there are pools for those unable to keep a wallet open 24/7. In this way POS looks like a truly passive income: you need just get coins, place them to pool and await for an income. Of course, a risk of scam remains, but where is not this risk? Also POW or any other doesn't protect from such risks.

[libert19]

I would also add dPOS, it's much better than pow and probably better than pos/masternodes, you are incentivized to secure the network and you need to add value to the network to get the votes. In those three it's mostly about money, while in dpos, your skills determine your position.

[KryptoKai]

DPOS is definitely worth looking at. LISK was one of the first to implement it, but they are going to change it due to monopoly issues. Tezos is a better dpos system and great investment

[fast2fix]

POS doesn't require any special equipment, also there is no a running cost, i.e. it is just a regular electricity consumption of your laptop. Let's say, POS is accessible for everybody easier than POW. That's why i prefer this way. Also there are pools for those unable to keep a wallet open 24/7. In this way POS looks like a truly passive income: you need just get coins, place them to pool and await for an income. Of course, a risk of scam remains, but where is not this risk? Also POW or any other doesn't protect from such risks.

well some pos coins don't require any special hardware and some do[for higher earning] , the downside to pos is that your coins are exposed. i think all those pos coins should implement cold staking like aura.

[VanDeinsberg12]

Masternodes should be chosen with care! Most of the new projects do not yet cover the cost of the node!

It's just like a betting, when you have no amount and then you can't become a masternode for the major coin just like dash which needed more than 100k dollars to become masternodes.
A lot of MN coins but only some can be trusted by the problem it needs a lot of money.

[Vektrum]

Now many young coins that have the PoS+Masternode consensus algorithm cause losses to their investors. Masternodes are expensive, about several thousand dollars, but after a while their price drops to several tens of dollars. And this is most likely due not to the general market downturn, but to a specific coin. Often such coins are not promising and therefore have no future. You need to understand that you need to evaluate the project as a whole, because the PoS+Masternode algorithm does not make the coin valuable. Its value determines the product offered by the project team, the coin community, the community benefits and much more.  For those who want to try how it works, you can take advantage of masternodes pools, in which we put a small part of the coins and monitor the profitability, the change in the price of the coin. In this way, you can gain experience and understand whether it is worth doing this and invest large sums.

[Psynthax]

DPOS is definitely worth looking at. LISK was one of the first to implement it, but they are going to change it due to monopoly issues. Tezos is a better dpos system and great investment

Lisk is the first but it's not so impressive as those people said about how good DPOS based on their argumentations. I would like to see a hybrid system like POS combined with POW rather than DPOS.

[Christinebeauty]

Its very true. The proof-of-stake mining uses less electricity than the proof-of-work and it makes it more profitable and preferable to mine. I just hope these new masternode projects, like Veil for instance, brings so much improvement into the mining sector

[sh4dtechnr]

Proof-Of-Stake is very fast regarding transactions / scalability. Decentralization is another story, but there is a very good solutions that allow this consensus algorithm to be decentralized enough.

[franciscoDC]

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.

Yes probably ,scam PoS coins or Masternodes are everywhere now and as you said that they promise that they will return your investment,actually in my own opinion theres a 70% that they are  legit project but the remaining 30% are the chance that they will scam you,and if you will go for like this token you should think twice because there a lot of token that will bring you and income and great future.

[jonhn772]

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.

Yes it’s essential for us to choose legit Masternode POS coin. Almost maximum of masternode coin are scam. So we need to research more about them and need to select best coins.

[CryptoKush]

Yes. I think that this kind of mining has a perspective. More and more new projects are starting to use this. Probably in the future, PoW will lose popularity and most coins will use PoS.

[poodle63]

Yes. I think that this kind of mining has a perspective. More and more new projects are starting to use this. Probably in the future, PoW will lose popularity and most coins will use PoS.

We have faced the problem with global warming and the mining gives a significant contribution to the production of electricity that will give a big impact to the pollution. The dev was trying to search an alternative way to the mining crypto use hardware wallet and the answer should be POS or masternode.

[CryptoLing]

Yes. I think that this kind of mining has a perspective. More and more new projects are starting to use this. Probably in the future, PoW will lose popularity and most coins will use PoS.

I don't get this, why one day PoS will overtake PoW. PoW is much fair in initial distribution than PoS and yes for now maybe PoW consume a lot of energy, but if someday PoW consume sustainable energy do you think is still bad. I'm also sure that PoS is much more vulnerable to get 51% attack.