What are the best stake strategies?
Should I keep my Sync offline for a month and then stake, or just stake every few hours?
It varies by coin, but in the case of Sync, I would recommend one large block via coin control, and leave it open. Sync has a very short maturity period, and the POS minting is going down by half every thirty days until it reaches 1%. Right now you want as big a shot at that minting as you can get. I'm recombining every time I stake. The few minutes I lose vs. The increased shot at staking early in the maturity phase is worth it with a six hour maturity.
Coins with a longer period, I pursue a different strategy, and when Sync gets down to 1% I'll probably be doing it with Sync as well. Break your blocks over the period of a week so that you are getting some stakes every day.
PoS coins have become my main focus, so I'm studying how they work with several coins, and there really is no "best" strategy for all. Each has a different character, even with similar specifications. I'm planning on writing up a pretty comprehensive coin control guide, but I'm still seeing how it plays out between several coins before I commit that to the internet.
W just purchased yesterday just over 3 Sync, can you give us detailed instructions on how to stake? My Husband just has the wallet open on his desktop but other than that we don't know what else to do. He closes the comp at night of course. I just need the Idiot's guide to staking instructions.
. Like go here click that etc.
We incubated all 3 Sync last night in the wallet so it was one lump sum that went into the wallet in one go.
Sure. It's simple.
If you haven't encrypted the wallet, just leaving it open is sufficient. Given the value of the coin, I recommend against that, though.
So, here's the procedures I use. Not all of this is necessary, and I'll put an asterisk next to what is necessary.
1. Click on Settings, then click on encrypt wallet. This will give you a box to put in a passcode. Make damn sure you have that passcode backed up somewhere safe. *
2. Click on settings again, then click on Options. From the options menu, click on the "display" tab and check the box to display coin control.
3. go to the receive coins tab and generate a new address. Label it something like "consolidation" (the label is irrelevant, just for your convenience). Copy that label to your clipboard. Go to the "send coins" tab and click on coin control. Click the "list" radio button so you can see all of your blocks. For the first run, click the check box next to all of them. Hit "ok" and close coin control.
4. Copy that new address into the payment line and send all of your coins to it. This gives you the highest chance of staking when the coins mature. (not necessary in your case as you already have them in one block).
5. click on settings, click on unlock wallet. In the window that pops up, make sure it has the "for staking only" checkbox checked, and enter your passphrase. Leave it running and that's all you'll have to do. However, this step will have to be repeated every time you close and open the wallet. *
6. Wait six hours. That's how long it takes to reach maturity. This is a minimum, of course, but that's when your coins become eligible for stake.