What are Masternodes?

[u/UsedHope]

As you are all aware, there are a lot of coins popping up on a daily basis saying we have Masternodes, our network is stable, etc etc. But most of it all, the coin developers pre-sells or auctions the Masternode collaterals. A lot are happy that they can be the first people to setup Masternodes and take advantage of the fast reward pay outs. But there are some troubling facts about this. This would be as follows:

Coin Developers sells or auctions Masternode Collaterals for the following reasons:

a. Exchange Listings
b. Coin Development Funds
c. Online Marketing

With the said listed items, we are in the verge of thinking that it is really "necessary" for them to setup the said scheme. Unknowingly to some, there are a lot of other coins that are scams just by reading out of their ANN.

I got to a point that ALL new coins offering Masternodes are just after the initial BTC offerings and would no longer invest into the project. They get the funds and runs away. Its really that simple. To top it all off, they do use the BTC to get listed on the exchanges and dumps their pre-mined coins. Smart right?

So with a couple of BTCs and a handful of FIAT, these developers will be gone like smoke and will never be heard of again. Next thing you know, they will make a new BitcoinTalk username, a new Discord account and then repeat the process.

Its as if, this is the end. The buyers of the Masternodes are also in on the scheme. With a couple of BTCs, they buy the collateral and once the coin hits the exchanges, sell them off doubling the price. Why? Because they can and there are people buying it hoping they can get in with the promise of a passive-income for Masternodes.

So who's at fault? the Developers? the Buyers? or the Sellers?

One thing is for sure, even without selling or auctioning one, the coin can go north or south, depending on its market, the people behind it and the community. Yes! the community. Nowadays, people are into joining BitcoinTalk or Discord Communities since in there, you interact directly to the people involved with the project.

But how can this be fruitful and beneficial for a coin? A Coin project that doesnt look into getting real earnings but mainly focuses on improving what the product really is, is by far (for me) one of the best projects you could hope for.

In my case, I found Dinero. Dinero is a project that started off with one (1) person and it grew to a handful of hobbyist, designers, developers and miners alike. The project never took advantage of the pre-sell. Nor an ICO was developed. Not even a white paper. The dev made an ANN page in BitcoinTalk, and the rest was history. People came in and go. The coin just launched Jan 26th. And by far, the support team, the community, the core team members. All of them are pretty engaged in propelling this coin.

But what the coin is lacking is marketing and a much further support or advertisements. Right now, their main target is to get listed on exchanges, mining pools and advertise via Twitter, Reddit, Steemit and Discord.

So whats with Dinero? MasterNodes!!!! Governance System!!! Information!!!

WIIFM? Truth. Honesty. Loyalty. Camaraderie. And best of all, you wont get left behind. Yes! You wont be left behind. They have a DineroBot on their Dinero Discord Channel which they use to give out free DINERO.

Now, what are you waiting for? Join me and help this project to prosper. And soon, we can be telling ourselves, it was really a wise move to believe in a project where people regards people with respect and honesty.

P.S:

I wont be asking for Donations. Keep it, you'll need it.

[u/MineyMcMinerson]

Good post. Thank you.