Mysterium: The follow-up!
I’m writing a follow-up on my Mysterium adventure. I’ve been hosting two mysterium nodes for about three months, and I’m ready to share the results and answer the question is Mysterium a good investment?
Mysterium is a web 3.0 global network that provides internet access without the restrictions or monitoring of web 2.0 internet service providers. It’s a peer-to-peer networking and unblocking solution. It’s also a network where developers can build web 3.0 applications. Mysterium users pay for only the internet service that they use. Individuals earn MYST tokens to host web 3.0 nodes that provide internet access. Nodes are simple servers that power the network. As a node runner, you earn MYST if people connect to your node for internet access. To gain a better understanding of MYST and my methods, please refer to my article “Mysterium: An investment in Web 3.0.”
As stated before, I’ve been running two nodes for about three months, and its time to reflect on the results. First, let’s look at Mysterium as a cryptocurrency. Needless to say, crypto as a whole has taken a significant hit these past couple of months. The big two (Bitcoin and Ether) have lost about half of their value. The current value of MYST is $.37, which is a 2.41% increase. In the past month, MYST has had a low of $.22 and a high of $.43. In the past year MYST has had a high of $3.87 and a low of $.12.
To run two nodes (which are virtual private servers (VPS)) has cost roughly $9 bucks a month for each, totaling $18 dollars a month with a grand total of $54. (Note: I was given a $100 free credit for starting a new VPS account). So now, let’s see how many MYST I’ve generated. In the past three months, I’ve generated approximately 8 MYST tokens with a market value of $2.96 :(.
MYST looks to be a solid investment. Its value has grown from the beginning of the year, and Web 3.0 technologies are continuing to gain momentum.
As for node running, this proves not to be profitable. It’s actually cheaper to buy MYST tokens than to run a node. If it weren’t for the $100 free credit, I would be at a $51.04 loss. But if all node runners stop running nodes, then the price of MYST would plummet. The new strategy is to optimize the nodes that I have. My current nodes are running at the 2nd to the best available VPS performance offerings. Each node utilizes less than 20% of its available resources. My next step is to switch my VPS to a lower-performance offering to save money. My strategy is to run nodes to support the Mysterium infrastructure and buy more MYST tokens to improve my investment position. All in all, I’m not ready to throw in the towel.