Sometimes wax makes it rot faster if it traps water against the wood. Everyone has different experiences. When I use coco peat I get mold. Most don't get that. I always cut once just above the node. That means the cutting above has a long stem below the node. I scrape once on each side of that long stem, paint with clonex and put the cutting in perlite. I've never had rot only on the bottom doing this even if the middle sometimes looks hollowed out. There are dozens of different things about my environment than my next door neighbor's even if we try to do the same thing the same way.
There will always be someone with different experiences than our own. That's why it's good to get different opinions on the same topic. When you start doing this you won't know if your operation will have the same problems as mine, Doug's or both or neither. Every time I think, "That never happens" next time I do it it happens. That's why we need a forum and not a FAQ. :)
Let's face it, I can only tell you my opinions based on my experience. There are very few hard and fast rules. (getting both moisture and air to the roots is one, however :- ) I wish people took that for granted so we wouldn't have to pussy foot around with, "in my experience/opinion/ etc. It's always my experience, opinion/whatever. Even university studies that look great are later overturned. As one prof said, "We never change the questions on our tests, just the answers." :)