Building Passive Income with Masternodes

[sasman19]

Everybody dreams of the day you can sit back and watch your money grow. Cryptocurrency is helping me achieve that goal by allowing me to develop, control, and grow my income stream. If you are like me, lacking expensive mining hardware,  Masternodes are the perfect tools for developing a reliable passive income stream. Running a masternode is an amazing way to earn cryptocurrency and contribute to the network without the hassle of mining. Masternodes enable instant, direct, and anonymous transactions while simultaneously protecting the chain. But most importantly they make you money. The hardest part of running a masternode is setting it up but GlobalToken has that covered with the best Masternode setup tool on available. GlobalToken is my personal masternode call for 2019.


https://discord.gg/NqJDdP5
https://masternodes.pro/stats/glt/statistics
https://globaltoken.org/

[jerrison]

i have severally heard of the masternode business, when people tend to make millions of dollars by hosting masternodes for different networks or in a grammertically reconstructed sentence, where people make millions of dollars by mining tokens in different networks or blockchain frameworks. i will consider that as another income to get up and running.

[traderethereum]

But to build a masternodes, you will need large money. For example, if you want to have bitbean masternode, you need to have 100,000 BEAN, it is recommended amount if you're going to get a nice return in monthly.

I am curious about how much I should spend to buy GlobalToken because I visit on the site, and I found that we should have 50,000 GLT to start masternode.
GLT price now is at 42 satoshi, and it means, we need to spend 0.021btc - 0.22btc to buy 50,010 GLT because we need some amount for transaction fees.

[peonminer]

Everybody dreams of the day you can sit back and watch your money grow. Cryptocurrency is helping me achieve that goal by allowing me to develop, control, and grow my income stream. If you are like me, lacking expensive mining hardware,  Masternodes are the perfect tools for developing a reliable passive income stream. Running a masternode is an amazing way to earn cryptocurrency and contribute to the network without the hassle of mining. Masternodes enable instant, direct, and anonymous transactions while simultaneously protecting the chain. But most importantly they make you money. The hardest part of running a masternode is setting it up but GlobalToken has that covered with the best Masternode setup tool on available. GlobalToken is my personal masternode call for 2019.


https://discord.gg/NqJDdP5
https://masternodes.pro/stats/glt/statistics
https://globaltoken.org/

Could you please explain more detail how a master node provides passive income? How does one go about setting up a master node? What kind of maintenance is required?

[amrulshare]

Masternode requires substantial funds and not everyone can do that even though the passive income provided has a favorable value every month. Masternode does not provide economics for small investors, making people think twice about joining this business.

[peonminer]

Masternode requires substantial funds and not everyone can do that even though the passive income provided has a favorable value every month. Masternode does not provide economics for small investors, making people think twice about joining this business.

I did some research into the coins listed on masternodes.pro and literally the only coin on there that is also listed on a big name exchange like poloniex is DASH. Seems like it would be risky business to set up a masternode for a coin that's not on a reliable liquidity source. Thoughts? I see that masternodes have to do with running a wallet as a masternode for the blockchain, I am just curious what all else goes into setting up a master node besides running a secure wallet with a static IP and constant internet access. Is it code in the wallet.bat file that makes it a master node, or? Is it only capable with holding Proof Of Stake coins?

[Chika08]

I am yet to. Understand how this Masternode works. I have seen alot of projects recently offering this Masternode as one of its products and I still don't know how it helps or boosts the network. I think I will pay more attention to this

[Herbert2020]

every time some newbie starts advertising about masternodes and some shitcoin they intentionally always avoid mentioning the high risks of this design.

for starters a masternode is basically you keeping a very large amount of funds in a hot wallet. and everyone already knows how high risk that move is. you can easily get hacked and lose all your funds even with a lot of security in place.

then we have a big fact about altcoins which is their pump and dump-y nature. you have to buy a large amount of that shitcoin you want to run a masternode for. in that case you have to have a big stake in it and when it gets dumped (which is a matter of when not if, since it is inevitable) you will lose a huge amount of money because you have a large stake in it.

[Belianez]

I think at the moment it is very risky to keep masternode as the market is bearish and more than one project will not be able to give you passive income , but after the market becomes bullish, of course I will put at neo

[peonminer]

every time some newbie starts advertising about masternodes and some shitcoin they intentionally always avoid mentioning the high risks of this design.

for starters a masternode is basically you keeping a very large amount of funds in a hot wallet. and everyone already knows how high risk that move is. you can easily get hacked and lose all your funds even with a lot of security in place.

then we have a big fact about altcoins which is their pump and dump-y nature. you have to buy a large amount of that shitcoin you want to run a masternode for. in that case you have to have a big stake in it and when it gets dumped (which is a matter of when not if, since it is inevitable) you will lose a huge amount of money because you have a large stake in it.

See, this makes more sense. Risks involved include keeping large amounts of coin in a hot wallet. You must have your security on point. Even then you could be hacked. It seems like the dangers out weigh the rewards for most endeavors. That site masternodes.pro also seems sketch because there's literally no coin on there except dash that can be found on a reputable exchange like poloniex or coinbase.

[prtty2gal2]

Well, masternode was actually a good way of making money in 2018 but I don't really see how one can now make money since there is a dump in coin price.

Imagine you bought the coin to setup masternode when it was $5 and because of the dump in price, the price became $0.5, this will get you a lot of lose since the reward is paid in coins. Am not advising anyone not to invest in masternode but to carefully check the project before investing in their masternode.

[livingfree]

He suggested to run a masternode with globaltoken which sounds new to me. Never heard of this token / masternode token, I'm planning to run my own maternode but it seems that those worth it coins are too expensive to me.

To those who are planning to run their own MN's, do more research. It's not just about getting passive income but more about on what coin to run as you choose for its MN. This is a long term commitment and ROI isn't that quick.

[eternalgloom]

Why do you think that this particular coin will ever be worth anything?
I mean it's at rank 1462 on Coinmarketcap and barely has any volume (only 0.07 BTC per day)

They even mention on their website that they use the same codebase as Bitcoin, hardly innovative.

To set up a masternode, you need 50k GLT tokens, which is worth around $100.
Do you think you're going to make that money back, while it's likely that this coin will barely see any use?

[nicecrypto]

running a master would be more profitable if that particular coin is still very cheap to buy and you have the experience to set it up and probably have access to 24hrs light as your laptop needs to be on allthrough, it will be more easy when the project or coin to run a master node on is still cheap, buying an already expensive coin to run masternodes will definitely requires huge investment which many can not afford

[TimeTeller]

He suggested to run a masternode with globaltoken which sounds new to me. Never heard of this token / masternode token, I'm planning to run my own maternode but it seems that those worth it coins are too expensive to me.

To those who are planning to run their own MN's, do more research. It's not just about getting passive income but more about on what coin to run as you choose for its MN. This is a long term commitment and ROI isn't that quick.

Most of the masternode-related coins that I've encountered so far has lost its original value.
Very few maintain their price. A lot of them has diminishing value even after couple of weeks of trading.
Passive income and high ROI are really not true to almost all of them.
If the coin has empty foundation and no real use case, it would only go in one direction. Failure.
So people should really be careful in buying masternodes. Most of the promises are just to attract buyers.

[kindbtc]

I know many people are already drowned in this masternode business from head to toe but for newbies i want to alert them that not all masternodes are profitable sometimes you setup a masternode for a coin and after few weeks the coin looses most of its worth resulting in loss for the investors so masternode business is kind of tricky.

[livingfree]

He suggested to run a masternode with globaltoken which sounds new to me. Never heard of this token / masternode token, I'm planning to run my own maternode but it seems that those worth it coins are too expensive to me.

To those who are planning to run their own MN's, do more research. It's not just about getting passive income but more about on what coin to run as you choose for its MN. This is a long term commitment and ROI isn't that quick.

Most of the masternode-related coins that I've encountered so far has lost its original value.
Very few maintain their price. A lot of them has diminishing value even after couple of weeks of trading.
Passive income and high ROI are really not true to almost all of them.
If the coin has empty foundation and no real use case, it would only go in one direction. Failure.
So people should really be careful in buying masternodes. Most of the promises are just to attract buyers.

Yes they have lost their assumed value before because we have been stuck to the belief and expectation that their value were always as high as 2017. We need to move on and stop looking at those prices anymore and start accepting that we're on the new state of the market and these current prices shall be the new basis for these masternode tokens. I'd like to remind those folks who are interested with masternodes too, a lot of scam masternodes are circulating there too so please be advised.

[Tahdayi]

I think it can be very difficult for a beginner, because for good coins you need a very large capital, I think masternode is not very suitable for investment now because the market is still bearish and it will be difficult to earn !