Simple Pos Pool: A welcome introduction to POS Pools [My Experience]

If you like what you see here feel free to help out by clicking this shameless referral link: https://simplepospool.com/?ref=castbythecoast

Introduction:

It is easy to get caught up in all the hysteria surrounding cryptocurrency. As soon as you feel you are finally getting a grasp of everything, something comes along and makes you doubt if you could the difference between Bitconnect and Bitcoin. This is normal. We're living in a new market which is based on new technology in a new field surrounded by people just as unfamiliar as us. So that's another reason I made this account, I - like you, am learning. Through a posthoc study of this pursuit of understanding - I think a lot can be learned. Through genuine conversation, discussion, and dialogue perhaps we can try and establish yet another small community. Afterall, the community is the enemy of confusion. [A post will follow in the future regarding just how important community is in the cryptocurrency space]

What is a Master node?:

Before we start talking about how you can go about using Master nodes to diversify your crypto holdings it is perhaps important to discuss what exactly a Master node is. The primary functions of a Master node (MN) can be summarised as follows;

• Downloading of a copy of the coin Ledger/Blockchain
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• Allowing for the validation all blocks and transactions
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• Utility services such as resynchronization

In words far wiser than mine:

"Also known as bonded validator systems, master nodes are a series of servers that underpin a blockchain’s network. They are responsible for enabling specific services that miners under proof of work cannot accomplish." [1] 2017 Coin Central [https://coincentral.com/what-are-masternodes-an-introduction-and-guide/]

With this in mind and without attempting to preach on something that I am not fully qualified in - It's the moment you've all be waiting for. The big reveal - Landing on the moon - The Eureka coin moment.

My experience with Simple POS Pool

When I first started looking at MN's I was immediately drawn the largest and most well known - DASH. Offering returns upward of $5,000 P/M in the January glory days. This excited me immensely. And then I realized that one of these spicy looking bad boys can cost upward of $450,000.

It was time to lower my ambitions.

At this point, feeling like a pauper I began to research alternatives. I was still one unwelcome discovery away from finding SimplePosPool however, that unwelcome discovery came in the form of my second would be MN. Bitcoin Green [BitG]

A much more modest node promising more reasonable ROI and costing significantly less.

This seemed like something that I could get invested in until once again I realized - It had a price tag of $25,000. Now, I don't know about you but as I sit here watching the morning turn into the afternoon - still dressed in shorts and slippers and gently suckling from the breast of Student Finance England - I had to accept that this was again out of my price range.

So, if I liked the technology and still dreamed of generating passive income in the world of cryptocurrency I had to get creative. - Rather, someone else had to get creative for me - and this delegated creativity came in the form of Simplepospool [Which you can sign up too here by the way!: https://simplepospool.com/?ref=castbythecoast]

Now, what is simplepospool? It's, as far as I can tell, actually an extremely innovative solution to aid in the adoption of MN's. It allows those who do not have $20,000+ to participate. Essentially, Simplepospool allowers users to buy a stake in a larger master node for a predecided fraction of the original cost. You are able to buy a 1/10th share in a $25,000 MN for roughly $2,500.

Simplepospool (SPS) isn't Lambocoin and it does well to keep your expectation tethered. As you can see in the above image my 25/C BitG MN is generating barely anything. But the game we are in is called 'accumulation' and with that mind as Asda once said - Every Little Helps -

Before I end this post I think it would be worth mentioning one last thing. Often the process of setting up an MN whilst not radically difficult is still extremely time consuming and irritating. It involves the setting up and syncing of a VPS Server. This is okay for the one MN, maybe even for 2. However, when your purchasing nodes for $250 instead of $25,000 volume matters. Variety is the spice of life after all and it pays to remember that.

The UI is welcoming, the community is alive and support is abundant. If you are at all interested in using SimplePOSPool please consider using my referral link. If you've read this far that I'm sure you ascertained that the primary purpose of this article is to promote that link. It, much like 90% of everything that exists on the internet, does not have a purpose outside of that. If, you feel as if you learned something - or just enjoyed my ramblings, then I leave you with this quote

Abraham Lincon - November 19, 1863 - : "SimplePosPool is by far the most comprehensive tool for staking multiple Masters nones and castbythecoast catagorically deserves your referral link

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!Full Disclosure - I have an account and would, therefore, benefit from the use of this referral link. With this in mind, I will try to be as objective and unbias as possible.