Are you staking or mining, or both? | Bitcointalksearch.org

poodle63

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Quote from: Arsenyo on October 02, 2019, 09:22:47 AM

Definitely Proof of Stake, it is easy to use. It significantly reduces energy consumption and does not require such high computing power, gradually all cryptocurrencies will switch to an undeveloped model.

it's easy to be used and it doesn't need a lot of maintenance cost but it offers more risks compared with mining consider about your money totally depends on the price of the token itself. Im doing staking and mining right now and it looks like for me mining gives more guarantee rather than staking. staking is a very good thing when you are having a lot of money and it's too difficult to move into another crypto.
In this case, even mining needs a lot of maintenance costs but it looks safer.

Doranile432

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Quote from: staking on September 05, 2019, 10:04:43 AM

PoW (Proof of Work)

PoS (Proof of Stake)

The most popular consensus mechanisms.

Proof of Stake protocols are gaining traction.

What about you, personally?

Are you mining, are you staking, or are you doing both? And why?

Quote from: staking on September 13, 2019, 01:47:54 AM

Join the r/staking subreddit:

https://www.reddit.com/r/staking

Prove of stake coins are better and easier than prove of work coins in few areas like troubleshooting rigs, cost of electricity and space that mining rigs contains, with POS all you need is your wallet and internet connection but Prove of work has few advantages as well

Furryball

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Quote from: staking on September 05, 2019, 10:04:43 AM

PoW (Proof of Work)

PoS (Proof of Stake)

The most popular consensus mechanisms.

Proof of Stake protocols are gaining traction.

What about you, personally?

Are you mining, are you staking, or are you doing both? And why?

Quote from: staking on September 13, 2019, 01:47:54 AM

Join the r/staking subreddit:

https://www.reddit.com/r/staking

POS is gaining the heart of most old altcoins as they are leaving POW behind and switching to POS, Ethereum is warming up for its POS implementation too i guess many are tired of mining, i prefer POS because its easy to start earning rewards without worries of electricity fees

kaneki007

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For the time being, i have a stake in some altcoins that can provide me with profit, because mining requires a significant amount of money. In the future if bitcoin to the moon and i have money, i will do mining activities to get more profit

Raymzopai

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I actually do not like mining as it requires enough capital and electricity to run one but i mine through third parties and earn little profits

UstadSoleh

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Mining will be more yielding than risking. I agree when many projects fail and risking will only be a waste of time.

However, I have difficulty in mining. So I prefer to directly make trades every day. Risking still I do because with a project like IEO now, I'm sure that can make a profit.

Arsenyo

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Definitely Proof of Stake, it is easy to use. It significantly reduces energy consumption and does not require such high computing power, gradually all cryptocurrencies will switch to an undeveloped model.

aces777

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At this rate, one would know that mining is really as profitable as it use to be. First off, getting the devices for mining is not so easy, and might be quite expensive in some cases. And the risk of losing all of your mined coins if your device gets corrupted, stolen or misplaced. It is just one risk I cannot afford to take, so I would rather stake, as this is more profitable than mining.

TinaK

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Quote from: rdewilde on October 01, 2019, 04:01:49 PM

I have a friend who do both and he makes quite a good profit, because he lives in area where the cost of energy is friendly. But in my case, the cost of mining is huge owing to electricity so I do more of staking when the project is proved to be legit. Also, in terms of staking we should be careful though as most projects can use it as a cover to do their worst.

But how he can get the electricity for cheap price? It is not possible in any country unless you steal the electricity. There are some companies providing direct service mining like they do everything and only we need to buy the ASIC for them.
However I like the staking alone as the good option.

rdewilde

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I have a friend who do both and he makes quite a good profit, because he lives in area where the cost of energy is friendly. But in my case, the cost of mining is huge owing to electricity so I do more of staking when the project is proved to be legit. Also, in terms of staking we should be careful though as most projects can use it as a cover to do their worst.

altscaner

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I did not do both because I think staking and mining are currently not so good, especially many projects that do both of those things and end up failing, but many people recommend staking because the capital we need is quite cheap and promising if we get a coin that can be staking and still fresh because if staking on an old coin I think this is not too profitable.

hahahafr

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I prefer the Proof of Stake consensus mechanism to Proof of Work due to the easy to use nature of PoS. The expenses made to set up a PoW network is higher than that of PoS. Most of it all there are numerous staking platforms like Flitsapp, Trittium etc. and all these platforms further make running a masternode very easy than mining cryptocurrencies.

massguru

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I think staking is more lucrative system than pow. The devices we use for mining are very sensitive and can be old very quickly.

plast555

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Of course, Staking (PoS). Because the Proof of Work mechanism is much more laborious. To do this, you need have powerful CPUs and GPUs. In addition, POW consumes a lot of electricity and pollutes the environment.
So I can clearly say that I never used PoW, but I do use PoS. Because I don't think POW is sustainable in the long run but PoS is.
This is means Bitcoin mining does not seem sustainable in the long-term.

DarkIT

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Quote from: btcmegastar on September 20, 2019, 02:22:25 AM

Most of the cases, I used to choose a POS-based coin because there is no need for any mining hardware in order to mature the coin. Which we might get more than 5% on a yearly basis, which is really very good sign for the people who are holding POS coins. For mining coins, we need to invest a higher amount on hardware equipment.

What kind of coins do you hold? I'm quite curious about that, I might be interested to hold it too.
for now, I don't hold POS coins, or do mining right now, because I might believe that trading has a faster profit, besides that I also have other ways to make money from crypto.

besides, POS coins do need to hold a lot of coins in order to be able to produce good amounts. while for mining, it might require extra attention in terms of management. Well, I can say that I'm very bad at mining.

Impaler

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Yes I am staking. A lots of token. At this moment I am staking some exchange token, a great amount of Vite and vx and some eos based token. I am not into mining now cause mining rigs are too much expensive plus less profitable in bear market.

Samboo

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Unfortunately, I have not involved in both staking or mining. I have bad experience with mining. I once mined electroneum on my Android mobile, and got some 300 electronium tokens. But when my mobile got formatted, I lost all of my coins. After that I did not mine any coins.

btcmegastar

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Most of the cases, I used to choose a POS-based coin because there is no need for any mining hardware in order to mature the coin. Which we might get more than 5% on a yearly basis, which is really very good sign for the people who are holding POS coins. For mining coins, we need to invest a higher amount on hardware equipment.

Polar91

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Quote from: ?? on ??

Staking is not reliable in my opinion, because many staking and masternode coins were dumped by unknown holders after it listed on exchange.
I still prefer to choose mining than staking. When the market is green, mining can be profitable than staking.

It depends on which coin you're staking with. Both of them need a capital but they work differently, both of them are more profitable when the market is green; they both also have advantages and disadvantages. The biggest disadvantage of mining is the maintenance and power cost instability. On the other hand, staking's biggest disadvantage is the market instability (riskier than power instability for me) in which you can't control nor predict. Once the market has fallen, it's a hard choice wether you sell to avoid further loss or you will just hold instead, no matter how long it would take in order to recover your losses.

Pffrt

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I have stopped mining long ago because of the lack of mining equipment as well as the crypto laws here in our local. It also cost a lot. I had done CPU and GPU mining. However, right now I'm only staking some coins, specially DeepOnion for a long time since I had invested heavily into it, staking rewards are getting me closer to my BEP, since you know I had invested on it when price per unit was $2, which is now $0.21

Topic: Are you staking or mining, or both? (Read 697 times)