- This is not financial advice.
- Do your own research before you invest in a masternode
- This is my opinion, it is not a suggestion to invest in masternodes or any other Crypto Project or any cryptocurrency.
- I was not paid to write this review.
- Your capital as at extreme risk when investing in ICOs and cryptos.
- Please consult your local financial advisor to verify if masternodes are legal in your jurisdiction.
Interview with Node-vps
Can you introduce yourself and your role in Node-vps?
My name is Fabian, also known as CHAOSiTEC on bitcointalk.org, I am the owner of node-vps.com, which I started August 2016, originally to host crown masternodes. Because of issues with the 3rd party software I was using then, I had to reprogram everything from scratch, which is a process that started in may and is close to completion, estimating a month or 2 for version 1 of the site.
What services do you offer?
Currently, we host masternodes for 55+ different coins. In general, we will host those coins
our user’s request, but criteria is, they need to work with masternode.conf or equal type of files
What is the price for hosting a master node on node-vps.com?
Most nodes cost 5 dollars to host, per masternode, per month, we continue to evaluate the resources each coin uses, since this is the criteria for the price.
Is this price the same for all master nodes?
We have a few masternodes that are more expensive to host, for example, Dash costs 25 dollars per month, because of the added resources needed.
What is a masternode and what are the incentives for holding one?
A masternodes technical reasoning is for servicing InstantTX, SwiftTX and what else its called by now. And for sending coins anonymously. This system was created back when dash was young; I remember having discussions about masternodes with even (dash creator)
The collateral is used, so the incentives of the masternode are aligned with those of the network. A bad actor will need to pay financially if they create some masternodes and then use them to attack the network, as the value of the network grows so does its value and the cost of such an attack.
So for providing this functionality to the network, you get part of the mined tokens. It could be called a form of mining.
What is the advantage of hosting master-nodes with a third party?
Hosting at a 3rd party means for those people that are either not technical inclined, or don’t want to use their time on setting up masternodes themselves, they get someone else to set it up, and also someone who can help getting setup with their wallet.
What are the legal implications of owning and operating a masternode? Is there any difference between the two?
In the US, owning the collateral, and running masternode equals to mining, so whatever someone earns on running masternode, has to be reported to IRS under the said scheme.
For a 3rd party to run a masternode for a customer, goes under same laws as renting out VPS.’
What are your criteria to choose a masternode for investment?
I look at several factors, is the system sustainable (i.e. not crazy returns). Do the devs have decent ideas for the future, and gut feelings. Always trust your guts.
Do you have particular master node coins on your radar?
The masternode coin landscape is constantly evolving; it can at times be hard to follow even though I run node-VPS full time.
Are you involved in any crypto projects?
I’m involved with Crown. I am one of the architects behind the ATOM API (development name). I am not involved with any other crypto projects.
See Also our coverage of crown: Crown coin and Crown coin interview
As a business, I need to constantly develop new ideas to keep moving forward. Currently, we are in the planning state for node-VPS V2 Other projects are in the pipeline, but we are not ready to release any information on that yet.
For more information, please visit: http://Node-vps.com
- Masternode list (on the top bar)
- Masternode investing
We thank Fabian for the interview.