Masternode Experiment Turning Ugly

in #cryptocurrency6 years ago

Well my masternode experiment is looking pretty terrible right about now. I have very low confidence that I will recoup my investment as the price of CDM continues to plummet. I am committed to riding out this disaster for the next three months, it's probably better to just pull out now but I want to learn more about running masternodes and if I lose a few hundred dollars, I guess that's what the cost will be.

I will definitely be doing more research before ever attempting this again. I still think that the CDM masternode will easily cover my VPS bill over the next few months and I could get close to breaking even but I'm doubtful. I really expected the price to get a bit stronger as we head towards a collateral update that will require each masternode operator to double their stake in the coin. I think a few masternode operators have begun selling off their coins instead of reinvesting. Their are still a large number of nodes running and there will be a huge shortage of coins in a weeks time. I guess if the price spikes, I could always just cash out at that time and reinvest in a different masternode coin.

Oh well, lessons will be learned eventually.

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