Masternodes are synonymous with the privacy coins like Dash and Zcoin as well as a bunch of other coins. You probably haven’t heard of having masternodes. Think about it this way coins like Bitcoin and Litecoin.
How are people making money off of it?
First things that they’re doing is you know transactions privacy coins have an additional layer that they have transactions, but they may have to make them private on top of that, because of that extra layer of things they have to do there’s much more computing power required.
An additional thing, I want to think about here is that a coin like Zcoin they’re not a big central company or anything like that you know now the transactions aren’t all coming into them, and they’re doing all the privacy work and all the trades and exchanging of money or anything like that. No, it’s this crypto everything is decentralized.
Zcoin has to incentivize people like yourself and I to take care of that work all right, so with that, they have two different things they have nodes, and then they have masternodes is just basically like your regular miner. I’m probably sure you probably heard of many people like that they have a computer with a certain kind of chip on it and they just take care of making sure their electricity bill is in line with everything there, and you know they do mining and they get a particular reward for that and then you have a masternode.
A masternode takes care of much bigger tasks. I like to relate it as your masternode is like your skilled worker and your node is like your unskilled worker, because miners they their loyalties to where their profits are which is where it should be but they’re going to go where their earnings are they will jump from place to place, but you’re skilled worker if you have a business you must go to worker you want to keep that guy there, so you have to incentivize them to stay there how do you incentivize somebody to stay at your company you pay them a lot of money.
How that all works out here with Zcoin to have it. To get the masternode benefit, you have to own a thousand Zcoin. A lot of Zcoin sounds like there are ways that pretty much anybody can participate in that. So you need to own a thousand Zcoin, and the way it works is there are ways that you get paid out once. You have your thousands Zcoin and set up your Masternode. You get paid out roughly every ten days for having your masternode setup, and you get paid 15 Zcoin. So, 45 Zcoin in a month, and Zcoin price approximately $ 5.40. I think that’s low right now. I believe that Zcoin price is going to be going up much more in the future. I could easily see a hike of around 200 to 300% just in the next few months. Rates are going to be changing depending on the amount of Masternodes. There are more masternodes that there are, the smaller the payouts going to be.
Zcoin has it is a fixed supply coin you’ve probably heard that it’s Bitcoin. When it’s all said and done we’ll there be 21 million Bitcoin with Zcoin there’s going to be 21.4 million Zcoin at when it’s all said and done.
There is a fixed supply which works in your benefit big time here because think about this every person that sets up a masternode. Locks up a thousand Zcoin as more Masternodes are being set up. That means more coins are being held and taken off of the market. More coins are being held off on the market remember. Simple supply and demand if people want to buy the coin and a whole bunch of it’s just being held up we people aren’t selling it well supply and demand the price is going to go up. IGI 1
Even if you’re masternode reward is going down be like you know maybe you are instead of receiving fifteen coins every ten-day you’re now receiving ten coins. The value per coin should likely be higher if there are more masternodes.
If your long term investing in Zcoin, you have this massive incentive hold. The Buy & Hold like, you hold you buy a Bitcoin, and hold Bitcoin for the hopes of its price going up higher. You could sell it one day well imagine. If along the way, you’re receiving interest payments. A masternode it’s a thousand only, so if you have 1200 Zcoin, you’re not going to be getting that sixty per cent on the 1200 Zcoin only get it you have to a thousand Zcoin only. The next one is going to be two thousand, which means you have two masternodes, but anything in between doesn’t matter.
What happens if I go under locked up in that?
No, your coin is not locked up. So, ever you can back out of your masternode at any time point in time. If you’re Zcoin happens to drop under a thousand Zcoin. You lose like your Masternodes status, and you’re not receiving your payouts. Which is not an ideal thing, but the good idea to know about is that you’re not tied in to anything. You can back out at any point in time. Which is great for decentralization because that means anybody can step up and become a master node as well.
The volatility will be much more limited to the downside. Because a certain point of time Zcoin price is going down, due to what Bitcoin is doing or anything for any reason. There’s going to come to a specific end that Zcoin price is going to stop, why? Because you have a bunch of people that have Masternodes that have a thousand Zcoin or more apiece. That is not going to be willing to sell their coin. It means that’s going to create a nice bottom for Zcoin. If anything it’s going to create slow consisting your growth for the coin, which is something to look any coin is that, how does the Bitcoin do? When Bitcoin is doing all these things. Does the coin go up & down with the Bitcoin, or does it stay slow? That’s strong like the real sign of strength in a coin.
Do I need to have a thousand Zcoin?
Yes, you need to have a thousand Zcoin, but if you don’t have a thousand Zcoin and you want to partake in this, there are a couple of different options that you can do.
Of course, are you can pull together with some friends and do it, that’s the most highly suggested one. End of the day or the masternode is setup one person needs to have all the coins. So, the person that has all of your coins. The other kind of sketchy way about going about it is trying to find mining pools online, and you’re going to check like forums like Bitcoin Talk. So, again a little bit sketchy you have to trust the person that has your coin.
The other way that you can consider partaking in this. If you want to get involved with this here, the payout won’t be as big, but what you can do? What you can do is there is an exchange called T Dax. The owners of Zcoin own T Dax. So what you can do here is it with this forum with this exchange. This is a Thailand exchange, but what you can do is you can send your Zcoin to this exchange, and you can take your coin in this exchange, and you’re going to get a percentage of the Zcoin payout.
If you have a hundred Zcoin, So you only 10% of the way. If you put your 100 Zcoin on this exchange, you’re going to get roughly 10% of what that block reward is, or it’s usually going to be less. So, I would say that if the block was 60%. The exchange is going to take a good portion of that, but instead of 60%, you’re going to maybe get like 20 or 30% of that in relation.
It doesn’t matter if you don’t have the thousands Zcoin. If you want to take part to send your coin over to exchange, but there is always a risk with that you’re leaving your coins on an exchange. You know exchange get hacked all the time, so take those all those things into consideration. If you’re going to put it on in the exchange and trying to stake it over here, don’t spend a ton, but something is reassuring knowing that the owners of Zcoin aren’t all in exchange.
Consider all those different things there for people that do a set up their masternodes online. Another big concern is that secure your coins; you’re never sending your coins to anybody. If anybody tells you to submit your coins to them, don’t do that. What you’re doing when you set up masternode is you’re going to set up your Zcoin wallet, and you’re going to like send your Zcoin to yourself, and with that, you’re going to use that information that’s going to that sending that Zcoin to yourself. Shows in transaction form that you actually, have the thousands Zcoin and then you go in the process of setting up a masternode.
You’re going to come to two conclusions you’re going to see how you have to Center it up technically and you’re either going to look at it and realize. There isn’t all that difficult to set up with the thousands Zcoin. You need a couple of different things you need to kind of like to set up a server that’s going to do the work for you because you need a computer that’s running at all times. It has good internet, and I don’t suggest that you use your personal computer, because for one if your computer shuts off for more than an hour, you don’t get those payouts every ten days. If your computer shuts off. So, if you’re on day nine going to get a payout the next day, if your computer shuts off on you got to wait another ten days for your payout and guess what when your pay comes again you’re not getting the payout. You just missed out on the ten days of work, essentially you did. So that’s not an ideal situation.
If you’re not a tech-savvy person whatsoever, but you still want to partake in this, you can check out this company called Zed node. They’re going to take care of everything for you all you need to give them your transaction ID, and then you’re going to provide them with a private key. Now, this is not your private key that it’s not going to give them access to send your money & do whatever they want this private key is going to allow them to like have a window to see your coin & verify that.
They’ll take care of it every bit of maintenance for you they’ll even send you like monitoring and alerting. So they know how many coins you have and everything about it. It’s just pretty much on autopilot. I’m very bullish on Zcoin; I think anybody that if you have the opportunity to do this. I believe this is a great thing to do. Of course, on the other day, this is my opinion, this is not financial advice. Make sure, to do your research with all this. But I think if you dig in as Zcoin. You’ll be happy with the coin.