Haters Gone Hate? Plz dispel scam allegations :/

What’s up yall. I like incognito, and really appreciate the concept. But of course you know, there are always two sides to the (privacy) coin. So I chose to DMOR and search a few ‘reviews’ on the Google to see if I could find anything.

Long story short, I came across these two very negative critiques of everything related to the Incognito Chain and the Node. Given the fact that the physical node is at a 50% discount right now, I’m really unsure if I should take the leap or not. I do see an increased importance on things like privacy in the future, especially with crypto, but there little arguments have me questioning things.

If anyone could give a rebuttal to either one or both of these little links here, I would appreciate the perspective. Given everything that’s happening in the world right now, the risk of a $300 CAD physical node, combined with __ amount of PRV tokens in order to stake in order to make it worth while, I’m not sure I can look passed these little road signs that might be telling me trouble is up ahead.

I’m sure y’all can appreciate my concerns. And I would very much appreciate it if some different people chimed in with their opinions and perspectives on the matter. And just because I don’t want this argument to be brought up, I never invest more than I’m willing to lose - all of my ‘crypto allocation’ money is literally monopoly money to me in that I am 100% okay if I never see it again. But obviously, I would like to see it again :wink:

Article #1: https://decrypt.co/9688/incognito-node-earn-bitcoin-while-you-sleep

Article #2: https://news.ycombinator.com/item?id=21064666

P.S. I also am yet to see a youtube review of a person who has actually used the node for any significant amount of time - but plenty of ‘unboxing’ reviews :stuck_out_tongue:

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Ahaha

  1. I read HackerNews daily and I can tell you that the comments are super skeptical towards everything. First commenter probably only read the title of the article :laughing: and serious minds are usually don’t click on anything related to crypto there. So the second “article” is nothing you should worry about.

  2. The decrypt article was written before Incognito launched and it reflects the confusion of people who read ~2 minutes about Incognito. It talks nonsense. I would contact them and try to clarify and probably the core team did the same without a success.

If you want to read proper critics on Incognito, I suggest to read the forum. :wink: moderators don’t delete anything and many of us criticized a whole range of things in Incognito.

One more thing: the foundation could fund your stake if you don’t want to stake yourself and you still earn 35% of all.

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Yeah, that first article is rubbish. It’s like someone who didn’t read the white paper wrote the article right when the concept was introduced to them, judging on an elevator pitch.
The same with the comment.
Here’s what answers those concerns:

PRV does have a price, around $0.76 now, up from like $0.30 when that article was written. As for being listed on exchanges, that’s coming, but we prefer to focus on bringing privacy for people who care about it. If we listed on exchanges straight away, PRV would pump and dump according to random investor speculation and nothing would ever get done.

Market Cap is also coming soon.

As for why sell node if it actually makes money rather than keep it and run it ourselves, that’s easy: we want to make privacy a reality. Selling nodes is a great way to decentralize the privacy network and earn some more funds to build the project (though nodes really don’t have much of a profit margin, they’re nearly at-cost).

Not to mention, users are free to build their own nodes, the software and designs are open-source. We’ve just set up manufacturing at a scale where we can provide low-cost nodes to users so they don’t have to build them themselves. If they want to, we don’t even discourage it. DIY is awesome.

Note: if someone does build their own node, I’d love to see a video of it! That would be sweet.

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What some seem to forget is that we add privacy mode to crypto activities, that is what the project is about. To facilitate that we need a network. Instead of building a centralized network, we are looking for people who value privacy as much as we do and who are willing to help use build a more decentralized network.

Tech savvy people can use a VPS to run the node software. Since there are more non tech savvy people, and we want a network as decentralized in every aspect of the network as possible we have developed the Node device. Selling Nodes is not our core business, building the network, providing privacy is.

The first aricle is so far off, I didn’t bother to look at the second one. It was written before everything launched, by someone who didn’t put time in reading what it is all about.

There is no mining of BTC or ETH, but you do earn these (and other) coins, as fractions of the fees that are involved with the transactions processed during the time your Node (Virtual) is in an earning cycle.

PRV is a utility coin, there is no need to put it on exchanges other than our own pDEX.

This may be the right spot to mention, sales are overwhelming with the current promotion, shipping will be delayed to June, for those who ordered late, due to that.

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I, personally, am very NOT tech savvy, so I can’t explain the technical side except at a sadly basic level. I’m just a “random nobody” who believes in everyone’s right to privacy. Definitely not a member of the core team or anything. What I can tell you about my experience with Incognito so far is that it has been awesome. Yes, there have been hiccups here and there, (Why is my node telling me it needs to be fixed? DID my transaction go through? Oh wait, there it is!) I am making about $35~ USD per month, and that’s with my node staked by the community, so it’s only at about 35% of it’s potential earnings. That is ALSO not counting the 57% APR I’m getting by stuffing my PRV into the stake for all of the nodes to run on, or the fees I’m receiving in other cryptocurrencies. I love being a part of this community, even if I’ve been quiet and just keeping an eye on things and liking a lot of posts, as I kind of marker to see where I’ve been and the progress that thread has had. On a “I am NOT a financial professional” level, I wholeheartedly recommend joining this community and network.

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Remember that to check a project legitimacy don’t base your research on people’s post or medium but always go to their github. Real stuff are found in GitHub not on paper

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Attention everybody who replied to this post: I appreciate your help, opinions, and perspectives very much.

Honestly everything you all have said here was how I was feeling about incognito & PRV before I stumbled on the article. In this case, I really do believe that it’s a simple matter of haters gone hate and that ignorance has once again prevailed for the original author of that post.

Also, I had no idea that I could just use a VPS to operate an incognito node. If I were to do with, would it be with the same rewards/features as having the physical device itself? I have set up a VPS before for another little known project called Idena (very cool - I recommend looking into it for its unique-ness) so if I could just set up another server alongside that one, I would honestly much rather do that than get the little node device. Even though that thing looks ■■■■■■ bad ass, it has a very sexy and sleek design.

If it is possible to set up a node via VPS could someone please tell me where I might find the directions/instructions to do so? I’m not a complete coding/technical newb, but I am definitely not quite at intermediate status yet hahah. Only have prior experience with that VPS node I’ve set up already and a few little mini raspberry pi projects here and there.

Thank you again for your feedback everybody! :slight_smile:

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Glad to help clear it up! Here’s some more on running a Node Virtual on a VPS: How to host a Virtual Node

Node and Node Virtual serve exactly the same purpose in the network, and earn exactly the same way. Having a Node Physical and Node Virtual earn different amounts is the same as having two Nodes Physicals earn different amounts.

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@aaron (I’m still new here - I’m supposed to @ you if I’m replying to your comment directly correct??)

Awesome man thank you. Literally as you were typing your reply I found the pages hahah. Regarding selecting a server on Vultr, in order to get the 4 CPUs, 4 GB Ram and 50 GB SSD. requirements it looks like the server will cost $40/month. That seems like a lot does it not?? Considering I won’t be having 1,750 PRV for a while now, would it be better to try something else or nah?

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Yeah you can @ me or just hit reply and the site will notify me.
Also - welcome!

As for Vultr, yeah it’s a bit pricey. Contabo is one that people seem to like, for around $10 I think. Search Contabo in the site’s search bar and you should be able to find some more info on using it.

As for not having 1750, that’s one benefit of using the Node Physical. It automatically borrows 1750 PRV to stake so and you earn 35% of what validators earn, until you stake your own PRV. The bright side is, while buying 1750 PRV is an investment, it’s yours to keep when you stake it. So you can withdraw it when you’re done staking, it’s not like spending it for the right to be a validator.

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Okay perfect man thanks I’ll take a look for Contabo. So just so I understand 100% - with a VPS node would I still get the 1750 PRV automatically skated for me to start earning from?? Or would I have to supply all the PRV myself; either 1750 for a solo node or any amount for adding into the pool??

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With a Node Virtual (on a VPS) you have to stake your own PRV. So if you don’t have enough, you can either buy some, buy a Node physical to use borrowed stake, or put whatever PRV you have into the staking pool to earn 57% APY.

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Ah word word thanks for the clarification. Now I gotta run some figures as to whether I should swap my XMR for PRV, pay for a vNode, and calculate my potential returns vs just buying a physical node. I’ve about $400 USD in XMR and I live in Canada too so my node would be a little more expensive. So my plans for the today have been set in stone to figure this all out. It might be worth it for the convenience to just get the physical node - not to mention the decorative swag hahah.

I appreciate your help @aaron my man!

math-lady-resized

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Haha no problem. Happy to help man.

If you hit any roadblocks, feel free to keep posting questions. Took me a while to get everything straight in my head, there’s so much to learn.

I’ll leave one more thought - I don’t know what shipping to Canada is and if there are import duties, but the physical Node is $200 off right now if you pay with DAI (trade XMR to PRV, then PRV to DAI so you get best rates, always trade in PRV pairs). If you host a vNode even on Contabo, after a while you end up paying more for the monthly hosting than you would with the physical Node. And that’s without considering getting the PRV to stake for the vNode.

But there’s more to it, and honestly tons of great ways to earn that might be best for you. If you want, you can get some PRV to match your XMR, and stake liquidity for the XMR<>PRV trading pair, and earn 62.7% on your PRV, 10% on your XMR yearly. It’s a step up from the staking pool, but a bit down from a Node.

Anyway, have a good one my guy. We’re here if you need anything.

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For those who don’t understand the technicalities of PRV’s technology, here it is explained in simple terms:

Incognito serves the specific purpose of keeping your transactions off the blockchain ledger and PRIVATE.

That purpose and reason ALONE is worth value in my eyes.

Do not think about the coin’s current value. If you’re here to make fast money, you’re in the wrong neighborhood. You must first believe in the system and its purpose first. The monetary values would come later.

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Yeah @aaron I completely agree with buying a node now to save in the longer term compared to a vNode. Not to mention the convenience of plug and play compared to setting up a VPS - which can be a little bit more of a hassle :stuck_out_tongue:

And yes @wolf I completely agree my dude. Privacy, especially considering where things seem to be going (1984 anyone?) is of the utmost importance and to be able to contribute to that would be awesome. I originally found out about this project because of how much I care about privacy and would prefer my eggs to be spread in a few more baskets than just Monero. Rn I’m only thinking of the coins current value because I literally have to buy it now at the current value and/or do my calculations based on that figure lol. And in terms of making money fast, don’t worry I got that covered I’ve got about 13.4 BTC in bitconnect right now. :wink:

Nah but for real thank you guys - going to be placing the order pretty soon. I hope yall can ship them out quickly!

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I would check out jservers.com … They charge $3.75/week. Reach out to @fitz_fiat if you have specific questions.

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Hey guys !
I wrote email to the editor of Decrypt media, they are going to fix all not correct parts of this article.

Thanks @mesquka for the contact.

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@andrey Awesome! That’s great thanks for taking the initiative to do that.

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