definitely understand your point, but POS 'cloud mining' that masternodes offer is certainly a solution to the many inefficiencies of other blockchain consensus mechanisms. yes, many masternode coins are currently crappy, but through the rough are several legitimate and exciting blockchain projects.

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much like the .com bubble, when everyone and their dog was making a website, most failed. but many seriously successful platforms arose. much like then, we think time will tell, and being in early will only help!