Topic: 32 ETH for staking?! - page 4. (Read 906 times)

32 ETH is okay in order to stake. Lets compare the price to masternodes and we will get the same amount of money for a decent masternode who does decent rewards/month. Maybe in time they will lower the necessary ETH for start to stake but for the beginning I think they're making the right decision to keep it above 30 ETH.

If ETH keeps climbing in price and goes over 500$ soon , then they should reduce the amount immediately in order to extra secure their networks and provide confidence to buyers as the whales will earn so much from staking eth....just my thoughts...

Pools would be an ideal solution for encouraging other people to earn rewards on the ETH blockchain. But, this would effectively centralize the system as we know it. The more people are able to stake on their own, the better it'll be for the decentralization and security of the ETH blockchain. This is somewhat similar to Bitcoin's PoW consensus, where only wealthy individuals are able to earn rewards and secure the network at the same time. Given that Bitcoin ASIC miners are not highly accessible to everyone, the Blockchain's consensus has been somewhat centralized by a few mining pools controlled by Bitmain. With Bitcoin's current state, a 51% attack could happen in any point in time.

I believe that the same thing would happen with ETH in the future if devs don't lower the requirement of 32 ETH for staking. The Ethereum blockchain would effectively become centralized by big whales and corporations instead of the average person. Of course, people will still be earning rewards with any amount of ETH in staking pools. But they won't be able to support the ETH blockchain itself as costs will be too high. Imagine if ETH continues to rise in price to infinity and beyond. You multiply 32 ETH times the current price in USD (like for example $1,000) and the result will be an insane amount of money. The more expensive Ethereum becomes, the worse it'll be for its longevity as the barrier of entry for securing the Blockchain becomes higher over time.

Nonetheless, time will tell us whenever ETH will truly adopt this requirement or not (with a community debate would be ideal). If it does, then expect ETH to become more centralized over the coming years. By then, we'll have Ethereum Classic as the true decentralized implementation of the ETH blockchain. Just my thoughts

32 ETH is only a lot if ETH was over 1K a coin. At its current levels, perhaps that number should be higher. It's certainly more doable than some masternode coins... even Dash at its rock bottom prices would run you about 70K.

Besides, I wouldn't be surprised if they have staking pools or leasing, that sort of thing, for smaller holders.

Of course, we can not easily trust them and nobody will do that either. That is why major exchanges will open a staking pool for their users that want to stake their ETH coins on their platform.
Look at Binance for example, they have opened a staking pool for some projects. This is not a big issue for them to add more coin in their platform since they are going to get a reward from the staking.

Your logic is completely wrong here. Though you think that many big investors will buy ether and stake it, you miss the point here that very less number of people will be able to validate the blocks/transactions which means less number of people will have control over the network and this is bad for a reputable blockchain. A blockchain should have as many number of miners as it can have to be stable and widely distributed peer to peer network.

If people can come together in form of joint investment, I think they will be able to achieve the 32 ETH requirement. However, this comes alongside with trust.
If they cannot trust themselves, then such will not occur.
With this assertion and looking at the high level of it, it mighty not work.

There will surely people doing stake pools for eth if this is the case. That does mean that you will need to give your eth to someone else. Maybe the high entry-level price will encourage growth in the price?
Let us first see how the staking works and what it has to offer before we jump to any conclusions. $5k might be worth it.

I think ETH want to test their new staking system with low amount of people first, so they made the requirements like that so not many people can join it.
Maybe if they reach their success with staking, i'm sure they will lower the requirement for inviting more people to join their staking feature.

Honestly speaking 32 ETH was too high for me, if that's true and it was required will we have no choice but wait! until it was launch Ethereum 2.0 was long overdue and thats not good either for Ethereum Network and now that the rumor staking requirement of 32 ETH now whats next!

I hardly believe that ETH 2.0 will solve any problems. On the contrary, will create such a mess and will make the whole blockchain less secured. ETH needs to do something to attract new investors because the whole picture seems very disappointing.

There is this. Ethereum is doing this for the demand of ETH to rise. The stake reward is of course attractive but since the 32 ETH requirement is asked, it will be achievable only by the rich. 32 is not that big of a deal but it is not also one which is open to everyone who is interested. But I think this is not really to revive the Ethereum Project. There is nothing to revive with Ethereum because Ethereum is working pretty well. Developments are lined up on the project.  

That pumps is going to be anticipated, they've already spread the word about this and I think Vitalik also spill this information during his speech about ETH2.0. For an average person he will really be trying to accumulate 32ETH just to get into this opportunity. Right now I guess the right is pretty high but when the pump is over I think we can still buy ETh at less than $150. Save your BTC for it if you have some plans.

I think staking of 32 ETH is actually required else any tom, dick or harry would enter into mining ETH which is not safe. Also, 32 ETH can be pooled up and even the income can also be divided. I did not find it a huge issue.

This will probably result in some pump of Ethereum price before they implement ETH 2.0
but I am not sure this will be sustainable, and I even have doubts that whole thing will even work.
Smart contacts and tokens are not going to transfer easy to PoS

the whole purpose of this ethereum 2.0 advertising campaign is to revive the ethereum project and pump it again. so with that whole purpose they have to force people to buy more ethereum in order to be able to participate in the free money giveaway called staking. 32 seems like a good choice in my opinion to server that purpose. and  in the end it is only benefiting the whales and the super whales such as Vitalik and the ethereum foundation that own about 70 million ETH among themselves.

I do not yet know the mechanism for holders of 32 ETH in the future to receive actual passive income, but this is probably due to the fact that the number of wallets in excess of even such a minimum amount of 32 ETH is about 110,000. Apparently, this way the possible number of wallets to which payments will need to be transferred is reduced. Even 110,000 wallets, this is a huge job to make payments.
Of course, I would like the minimum amount in ETH to be less.

The pool will open and everyone will run to invest their coins in it, but what is the probability of the reliability of my investments that I will not lose my funds?
Such a pool should be implemented by coin Ethereum developers, where everyone could invest their funds.
Even if you implement the pos with 2 coins, it will be almost impossible to receive%, as there will always be whales who will confirm transactions faster than anyone else.

Their big system will only spend time dealing with big data or big money. Besides, the staking with large amount of new money can bring good profits for you and the system. because they need your money to be able to handle blocks much like PoW now.
so it is a rule and the more money a person pays, the bigger the reward.

I understand wanting more people to participate, but wouldn't the incentive to become validator come too low after diluting the earnings from it even more? I thought that 32 eth entry was maybe too low already.

I heard eth staking will be next year though there's still no specific date. While the ROI per annum will be in between of 1.5% to 18% but still depends on the validators.

And yes 32 eth is big for us however if you guys really want to join the staking without running your own software and doesn't need to stay online, you could consider RocketPool to do staking on your behalf. You just need 1 eth to be eligible.

But then again, stake at your own risk.

Disclaimer: I'm not related to RocketPool or any affiliates.