So, recently we purchased SafeInsure coin on the 18th of December 2018 which on the day of recording was ⅘ days away.
So based on the fundamentals that we mentioned, right?
Including things like liquidity, we looked at the budget that we want to spend which is not more than $10k.
We didn’t want to build a Dash or another Bitcoin. We wanted to build something that’s less than 5k USD.
So, we thought that Safe Insure would be a very good bet based on their whitepaper as it seems that it’s one of the the coins that we believe has a real use-case to it. So what we did is we built safe insure.
So, how long did it take?
[Treff] You mean the time spent?
[Treff] One hour
[Leon] One hour?
[Leon] We built it in one hour?
[Treff] Less, less than one hour.
[Leon] Less than one hour? Less than one hour because,
[Treff] Yupp, yupp.
[Leon] Treff has the expertise.The first time you’re building it’s bound to cock up so no worries.Okay, so this is, these are our earnings. Right you can see that our masternode earnings over here.
[Leon] Over the past week,
[Leon]1.2, 0.2 means what? 0.29 means,
[Leon] The what?
[Treff] It’s not the masternode.
[Treff] It’s the POS.
[Leon] It’s the Proof-of-Stake.
[Leon] So you see there’s a difference right?
We want to show everybody the difference between a masternode and aProof-of-stake, right?
So staking, I mean, different coins has different rewards right?
So you can see over here 18
You need to think about it guys..
1 coin is about 5 dollars right?
As I remember correctly, 5 dollars or something?
So, you look at the income that we made right?
So it’s essentially five bucks times this.
This is like the true-blue passive income which requires no buying of hardware. It’s just software
[Treff] … Almost every one hour
[Leon] Every, every one hour okay?
[Treff] Or you can click on the..
[Treff] You can click on
[Leon] This thingy, okay..
[Leon] Click on this right?
[Leon] I can’t.
[Treff] Ah there.
[Leon] Ah Okay.
[Treff] So you can click
[Treff] This one and…incoherent speech
[Leon] So look at this, we have 20 minutes, within 20 minutes
[Treff] No, this is…
[Treff] 8, 8 p.m.
[Leon] Yeah it’s 8 p.m. Then the next one will be let’s see here.
[Leon] Next one will be 8 p.m. Whoo
Then the next one will be 9:00 p.m. 9:00 p.m. 9:16 p.m. the next one will be
So so guys it’s literally like passive income right, you’re compressing all the the..
The stress in like, traditional cryptocurrency mining when you buy a rig into..
For traditional mining, usually we wait for about 1 month to get 0.2 Ethereum or something right?
But for this one it’s like it’s on steroids. Literally it’s just boom boom it just goes, I get the coins.
Okay so now the good thing is the returns are faster alright, like you’d get a faster method of earning the money through masternodes and even Proof-of-stake as well.
[Leon] Okay but,
Okay anyway if you are if you’re wondering what is 19 to 22? It’s just a little bit of error we did as it didn’t manage to connect but no worries.
It doesn’t affect at all. It’s not the.. It’s nothing to do with the masternodes problem. It’s actually our connection issue. So if you think about it over the past how many days we have earned about on average a day if it’s one hour per coin, we will earn 20 coins per day
[Leon] That’s 100 bucks that’s 100 USD that’s 100 freaking USD
Okay, I mean on an investment of aah.. we put in about USD 4000 to start off ah. We put in about USD 4000 worth of bitcoins right. And look at this. The price
also increased over the past few days so we earn not just the rewards.
Oh! The prices drop but let’s see the earnings still.
To us we.. it’s about 4k you see so
The amount that we use to come in
and the amount now it’s it’s about the same but because of the masternodes we actually make money, you got what I mean?
that means the in, the, the price back then and now is the same so that’s the good thing so we are not betting on, like a trading kind of mindset, right?
Trying to bet whether the things goes up or down. We’re not doing that
What we’re actually trying to do is to identify the coins such that it can be sustainable for quite a bit.
Then we jump in and jump out within short notice.
You see so because of that we made money on the SINS coin
Right, on SINS token
Mining for Humanity
So the interesting thing is Aaron..
So, you must be wondering, who is Aaron? Aaron’s our friend from Colorado
Right, so he spearheaded this initiative, mining for humanity.
He sponsored the building fee so he paid us to build masternodes
In return, we are giving 20% of the rewards to this initiative whereby it’s a pure charity where we’re gonna do some good.
To us, we believe that earning money is important for family. But I think more importantly is what we are empowered to do with all these new money that’s coming in right.
There’ll be more more cash
If you follow our blueprint, follow our system, look at this..
In and out within 3-4 days. You make what,
4 days 400 bucks, 400 USD like seriously 10% in 4 days?
How good can that be, right?
10% in four days right, that’s 400 USD in four days
You probably got to work
Like really hard to get the $400.
You gotta find customers, make them happy.
But through this, you just made that amount of money.
Okay, now because of that
We are gonna donate like a donation to Mining for Humanity.
We’re trying to do some good we want to add some value not just ah..
For you guys to earn some money but, we want to help people, who are less fortunate than us.
So we’re going to donate 20% of all our earnings through this SINS coin to Aaron’s initiative Mining for Humanity.
Alright so I would like to give props to Aaron, Aaron Nikolaus Cash.
You see, so that’s that’s a crazy part, we don’t take things for granted
Okay, and hence we’re gonna donate 20% of these earnings to Mining for Humanity. We always try to do good stuff when possible.
Okay, so that’s it for SINS masternode.
Okay, our plan now is to look for liquidity so remember what we mentioned that, we always try to look for liquidity the moment that’s profitability. You see, so the amount of active masternodes has dropped a little bit comapred from last week.
So it’s gonna hover around here so we’re gonna get out soon while the volume is still good so you can still trade the node.
Yeah market cap has also increased it’s been healthy, okay?
Highlight for this week is that we made 10% profits in just 4 days which is really amazing if you think about it.
But it doesn’t guarantee that it will always happen.
You gotta prepare to offset a loss because previously we also talked about managing your masternodes portfolio like like a mini venture capital fund.
That means, out of the 10 coins you don’t expect 10 coins to win.
You expect probably only one coin to cover the entire fund, so if you got 10k, you just need one coin to make 10k profits and that’s it.
So I was surfing Facebook groups. I came across a few applications
And then I came across this coin, CrowdFund coin, the world’s first decentralized crowdfunding platform built on a blockchain.
So the interesting thing is, last year I bought this coin called KICK, KICK coin KICKO, KICKICO or something like that.
But it didn’t do too well, I mean they executed a business plan but it didn’t do too well so it’s pretty normal for an ICO. So what got me really interested in CrowdFund Coin is the fact that they are trying to merge the crowdfunding concept with masternodes.
Think about it Crowd funding concept with masternodes.
So masternodes if done properly, like the block rewards.
Remember how I taught you guys about the block rewards? How it should be evenly spread across the period so it won’t be barred to, right?
You don’t want companies like CrowdFund coin to release all the rewards at the front leaving for none at the back.
What you want is to spread your rewards evenly such that
people will stay, people will hold your coin, people will use your coin in your ecosystem.
What Is a Blockchain?In this video, Leon explains to you about blockchain using pictorial diagrams. Now in the current computing world, there's always a database where information gets stored. in some databases, they are also known as a ledger system.
1 Centralize vs Decentralize Ledger SystemOne way of understanding blockchain is exploring the decentralize ledger system, which is the key idea behind the blockchain.
1.1 Centralize Ledger SystemA very popular example people love to use to explain blockchain is the banks so I'll do the same. In the banking system, there's a website that is front-end, it's consumer-facing so consumers go to the banking website key in their information and start to transfer funds to each other. These numbers that you punched in gets recorded in the ledger system on the back end. So in a centralized world, all this information gets collected and consumed by the bank. An entity on its own.
1.2 Decentralize Ledger SystemNow in the blockchain world, it's been argued that this ledger should be distributed out. So from a centralized place to a decentralized one. We're going to share and spread the data out to decentralized places, into what we call little blocks. Now, instead of having one central entity handle all the blocks, we have decentralized computers holding blocks of this information. You may be wondering, all these blocks of information, how are they organized into nice spaces.
2 Linking The BlocksSo, all these blocks of information have locks inside them. In order to connect this system, what's needed to be done is to unlock the locks which then links up into one long chain, one long chain of blocks hence the name, blockchain. In order to unlock these little locks, a computing process is required to take place. In the computer world, it's called cryptography. To put it simply, it's to unlock the locks, in order for the blocks to connect together. Common processes normally used today are probably only two right now.
2.1 Proof of Work[caption id="attachment_349" align="aligncenter" width="511"] Examples of a Mining Machine/Rig: JUICY TURNKEY GPU RIGS and the ANTMINER S9 13.5-14 TH/S.[/caption] One is Proof-of-Work(PoW) where you buy big mining machines, use a lot of electricity, in hopes of getting compensated by the blockchain for unlocking and connecting blocks together. That is PoW.
2.2 Proof of StakeThere's also another method called Proof-of-Stake(PoS) whereby you hold a certain number of coins in order to verify the blocks and unlock the little locks to connect all of them into one beautiful blockchain, thus getting rewarded by the blockchain. Basically, that's the reason why people want to mine and also the reason why people want to stake. By helping the blockchain connect all the messy, separate blocks, into one beautiful (organized) chain, gets you compensated.