It feels bad writing an article about a project that did not run a profit. However scientific experiments that disprove a theory also have value. While my node did not generate more Myst than Dollars my resources consumed, it was fun to set up. In the process I got over my fear of setting up a Blockchain node, and I learned how to easily setup a Linux server with Linode.
Why is it a good idea to run a Mysterium node?
For those of us interested in cyber defence, both Europe and the USA have been suffering from cyber warfare in the past few years. Many countries, like The Republic Of Ireland, are increasing spending on cyber defence. Even if the current war ends this year, the threat of cyber attacks remains.
It is a good idea for all individuals to practise good cyber security to protect themselves from malicious attacks, be they from criminal gangs or rogue state organisations. Therefore learning to use VPNs to protect one’s IP address is essential.
Mysterium uses blockchain technology to create a decentralised VPN, or a DPN. This is an interesting approach to cyber security. Apparenty a DPN gives an extra layer of protection, because traditional VPNs can theoretically be pressured into customer data by local law enforcement. Since most of the world does not respect human rights, democracy or privacy, it makes sense not to trust any authority with our data.
By running our own node, we can earn a cryptocurrency called Myst by providing an IP address that Mysterium VPN customers can use.
Setting up a Mysterium node with Linode
Mysterium nodes are easy to set up on most computers, it makes more sense to run it on a server that runs 24/7. While buying a physical server might work out better profit wise, it is easier to run a Linux server with Linode.
With a few clicks of a button, Linode spins a server with a cost of $5 per month. Take advantage of this offer to get $100 free credit when you sign-up with this link. You might as well set this Mysterium node up for free and tick “cryptocurrency mining” off the bucket list. In this case, it is free money!
How much profit with a Mysterium node?
Setting up a server with Linode comes with $100 free credit, so we already start in profit. Hooray! Our Mysterium node earns cryptocurrency per amount of data and bandwidth rented out to Mysterium VPN customers. In our case, we earned 0.256 Myst, which is equal to $0.8 a month. At $5 per month, this means we are running at a loss.
The free credit is nice and the experience was fun, but sadly it is not profitable to run a Mysterium node.
This is not financial advice, but I would recommend setting up a Mysterium node just for the fun experience of mining cryptocurrency. With $100 free credit from Linode, there is no loss and only gain.
Mysterium is an interesting company. They will probably be around for another few years. Hopefully, in the future they will have more customers and running a Mysterium node might one day become profitable.