(GUIDE) Masternode, Node, Full Node / Masternode setup with screens.

[wwzsocki]

Coinmarket cap and Coinmarketbook, I don't like them...

I don't like Coinmarketcap only because of the fake volumes and if it goes to the service and how it works I can only say that it is ok at least.

So which services are you using?

[tranthidung]

So which services are you using?

I mentioned about technical term (that usually mis-understood), not service, so I can not give you my advice on which service to use.

I would prefer to use the term: CoinMarket Value. It means total value of coins on market.

[wwzsocki]

I mentioned about technical term (that usually mis-understood), not service, so I can not give you my advice on which service to use...

Doesn't want your advice (don't get me wrong) only to know which service you use and if any. Anyways, thanks for the answer because indeed I have misunderstood a little your previous post. I like to know which tools people are using because many times I find services I never heard before and they are sometimes like pure gold. If you know what I mean?

[tranthidung]

Whenever with find them (pure gold), let's keep them in secret, because we can make a fortune with them.
In order to find them, it requires lots of things prepared ourselves over long period in crypto, and luckiness, as well as huge efforts spent to search, analyze, and so on. In a nutshell, I don't think there is reason to share such hidden pure gold for totally free, especially I am not rich to do that.

because many times I find services I never heard before and they are sometimes like pure gold. If you know what I mean?

[wwzsocki]

..In a nutshell, I don't think there is reason to share such hidden pure gold for totally free, especially I am not rich to do that.

I like that you are honest in your posts. Normally people don't admit that they won't share anything in the open only lie that they will do that but don't have anything to share. I think the worst truth is better as the best lie.

[tranthidung]

I like that you are honest in your posts. Normally people don't admit that they won't share anything in the open only lie that they will do that but don't have anything to share. I think the worst truth is better as the best lie.

It is a bittery fact. Whenever someone say "Please pay atention, I have something to share with you and you can make a fortune from that", please be careful with their advice. It's especially right in financial area, and in crypto. Investors, basically only want to have money, to accumulate more money for their port folios, so why they have to share pure gold for others, and share for free? Easily believe in such advice might lead you to traps.  They key lesson is nothing shared free in financial market.

[wwzsocki]

...They key lesson is nothing shared free in financial market.

You are right, of course, but I remember times when Bitcointalk was such a gold mine. Many times I found pieces of information which brings me a lot of money, right here on this forum. All kinds of info in different sections from mining to the marketplace. But from last 2 or 3 years, this started to disappear and today such info is shared only in private groups on Telegram. At the start, there were not so many scams as today and all great opportunities were checked by high rank and trusted members. Later all disappeared between hundreds of exit scammers and mistrusted members.

[mikeywith]

Why mining on masternode POS is better as mining on equipment POW?
I am convinced that this mining is the future. Judge for yourself.

The way you make this sound is funny, you put it as a solid fact when it's only a matter of what you think , there is an endless debate on which is better, this is not the right place to discuss the pros and cons of investing in POS vs investing in POW , but if you wish to debate this, feel free to start a new topic on this subject and let's have a debate  

but the least you should do is rephrasing this part to make it more reasonable.

Payback. And here, in general, the most destructive argument. You have no recoupment!

This is SO WRONG !, you do have recoupment and it's almost always higher than investing in POW.

i'll throw a simple example here, Dash masterrnode  requires 1,000 dash

let's take someone who would have followed your advice and bought 1,000 dash @ 1000$ each last year , this means he would have spent 1,000,000$ aka 1 million dollars.


he would have gained 90 dash at most ( 14 months ) so he has 1000+90 dash now which equal to 110*1090$ = 119,900$

so if they decide to quick now , they would have lost  -880,100$ or just about 90% of whatever they invested ( not accounting for other expenses because there is no way on planet you going to run a 1 million dollar node on your home pc, but i'll let it pass)

so now if they decide to keep the Masternode, they only get to make about 550$ a month from a 1 million dollar investment ( as per today's prices).


on the other hand, if they invested that 1 million $ in say Bitcoin miners , at the same period of time they could have acquired  about 350 S9s, at this point they would have been close to getting back that initial investment , or have gotten it back if power is cheap.

and at the average rate of 5 cents per khw , with those 350 S9s , they would make 18,000$ a month now as appose of 550$

and by the way, even if you were to use today's prices / 5 months prices and probably even 1 year from now of masternode vs POW mining , the math will almost always be on POW side, let alone the fact that 90% of POS are worthless shitcoins.

but this indeed does not go without saying that owning a masternode requires almost 0 maintenance or time , no risk of your gears going on fire or simply dying ,etc which is not the case if you were to own mining gears.

TL:DR ;

I think that is the best way of addressing the pros and cons of these two things, it's pretty simple , profit wise POW wins , peace of mind wise POS wins.
owning a Masternode is very very risky, the online calculators make it look so easy and tempting, but it is actually not, neither buying a POW hardware.

[wwzsocki]

...i'll throw a simple example here, Dash masterrnode  requires 1,000 dash...

This is my opinion and we can discuss this subject and maybe I will admit that you are right, but why to take the most expensive coin as an example and not the best performing one at this moment or any other with chances for profit at this moment?

If one wants to invest in maternode he should make a research first and choose the best performing and promising coin from new or old once but he will have to calculate his profits first and look at many other measures not go and blindly buy the most expensive masternodecoin in the crypto space.

When I have written this article some time ago there were plenty masternodes which one can buy and make a nice profit after some time, only from staking and rewards. Of course, everything is changing with the time and I can't change or update this article, every time when circumstances are different.

We can, of course, discuss that further in our comment and I appreciate your input.

[mikeywith]

I have not picked dash because it is the most expensive , i simply took it as an example because it is one of the very a few coins that have been there for years and still somehow stable, i did you a favour when i went with dash, in fact dash itself is not too far from being a shitcoin , let alone other weaker coins.

IMO , a masternode is just a way for the dev team to sell their worthless coins in bulk, the rewards at first might seem so promising but it's merely a gamble.

It is safe to say that well over 90% of coins that give you rewards for owning a node are shitcoins.

But if you have any good example of other coins go ahead and let me know, will be willing to compare the rewards against mining a pow coin.
 

[wwzsocki]

...It is safe to say that well over 90% of coins that give you rewards for owning a node are shitcoins...

I agree with you fully on this statement.

...IMO , a masternode is just a way for the dev team to sell their worthless coins in bulk, the rewards at first might seem so promising but it's merely a gamble...

True but not forget about this 10% of legit masternode coins.

Like I said before this article was written a long time ago but still, if I have to choose to mine then I always chose masternode coin because of flawless staking and masternode rewards compared to resources hungry and time-consuming POW mining.

This is the easiest way for starting cryptocurrency miner or enthusiast to begin because all he needs is an old laptop, internet connection and literally a few $.

[mikeywith]

True said, since you seem to be an expert with masternodes, would you mind putting up a newbie guide on how set up one , in simple and full details ? or , are you aware of any guide on the forum which you have found to be both accurate and simple ?

 i will be willing to translate that to Arabic as some members there are interested in masternodes.

[wwzsocki]

...would you mind putting up a newbie guide on how set up one , in simple and full details ? or , are you aware of any guide on the forum which you have found to be both accurate and simple ?...

I will try to find something tomorrow because I think I have such a guide already written a few years ago but I will have to search my social media accounts to find it. 

I have published this tutorial when I was in promotion team for Masternodecoin project, to get people attention and show new (at a cuurent time) way earning money with POS mining.

Additionally, I have seen in my local section text about masternodes and will have to check if there is an updated tutorial on how to set up masternode for beginners.

This is for sure a great idea and I will definitely do something about this in the coming days.

I will mention your username when posting this tutorial and if you have Maggiordomo bot set up for notifications then he will let you know about it.

[mikeywith]

wwzsocki

That would be nice , i will be waiting for the tutorial , yes the bot will surely inform me when you mention my name like it just did , i am not sure whether it needs the @ before the username when you don't quote my post.  Please let me know if the bot sent you a notification for this post.

Edited : a typo

[wwzsocki]

...Please let me know if the bot sent you a notification for this post.

No, because my username is wwzsocki and not wwzsock. You misspelled and that is why there was no notification.

Anyaways is my thread and I come back here frequently to update and answer all questions.

[wwzsocki]

...That would be nice , i will be waiting for the tutoria...

I just can't find enough time to write this guide because is a lot of work if I will do it correctly with all needed details like screenshots.

Still, I will try to write this guide but this can take a while.

In the meantime, if you find such a guide somewhere, please let me know.

[mikeywith]

In the meantime, if you find such a guide somewhere, please let me know.

I tried searching the forum with no luck, but using Google I came across this guide , he is using UBUNTU to launch a Masternode >  https://medium.com/@Panama_TJ/simplest-guide-to-setup-your-masternode-250a87349e42

I am not certain if it's something standard or every Masternode would have it's own set up, but i tend to believe that they should be more or less the same.

let me know if this suffice, if not i will dig for more information for you.

[shyvm]

Are there any comprehensive & reliable lists of masternode coins? No inflated ROIs, etc

[wwzsocki]

...let me know if this suffice, if not i will dig for more information for you.

Sorry that I needed so much time to answer but as you know I had hard times lately on the forum and needed some time to catch up.

This guide is great but I would rather look for one with windows setup because this is the operating system the majority is using.

Of course, Ubuntu and Linux are better suited for this but I don't have enough knowledge about these systems.

[mikeywith]

Actually the guide i sent you seems pretty good, it has all the details from A to Z and there may be no need for you to write a new one, you could probably just include the guide in the OP.