How Staking Is The Next Step In Crypto

bayu7adi

hero member

Activity: 1470

Merit: 555

dont be greedy

Ethereum has also started to warn that in Ethereum 2.0 the algorithm that will be implemented is proof of stake. That means, Ethereum miners are currently feeling disadvantaged by the Ethereum 2.0 update. Of course, all their equipment will no longer be used for Ethereum mining and it is likely that more and more miners will migrate to Bitcoin

Here is the news

Quote from: OGEOS on April 02, 2020, 05:49:55 AM

Are you staking your crypto assets?

I haven't, but from a public point of view not for now too, there is a more reliable and harmless way, namely a centralized bank. Until the time crypto cannot provide a sense of security like banks do, banks will be people's choice.
I'm not saying crypto loses to banks, crypto is more perfect than banks, and the public can't accept that perfection yet. lets see what will happen tomorrow and keep hodl

Agios

jr. member

Activity: 48

Merit: 4

I have tried several coin staking but often have trouble with both the desktop wallet or the coin itself which always goes down in price, finally I found Reddcoin as a coin staking on the desktop, the price of the coin is very cheap but rather stable, it's also very easy to just download RDD latest desktop wallet. fill the balance, and only open the wallet every time you open the desktop and while surfing the internet.

Francis Freeman

hero member

Activity: 1005

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Sovryn - Brings DeFi to Bitcoin

Quote from: OGEOS on April 02, 2020, 05:49:55 AM

In case you are late to this party and don’t yet know what staking is, staking is essentially the hoarding of cryptocurrencies. It's when individuals hold their crypto assets in wallets rather than using them for transactions. While this may sound counterintuitive, it appears to be the next step for crypto, and it is becoming increasingly more popular.

Here is everything you need to know about staking and why it is becoming more popular: https://e-cryptonews.com/how-staking-is-the-next-step-in-crypto/

Are you staking your crypto assets?

I know now the entire crypto space is about Defi and staking now but personally I am not a fan of staking . I prefer to have control over my investments and sell them if need to be .

r32godzilla

hero member

Activity: 1360

Merit: 506

Staking looks good on a paper, it should help with decentralization plus people are motivated to hold coins to receive passive income, but the problem is how you assure the scurity of the network? When you find out how to hack, you can completely delete it, not like PoW where you can change only few new blocks. Roll Eyes

jpnl0006

jr. member

Activity: 480

Merit: 4

The idea of staking in crypto will solve problems the transcends the crypto technology. PoW has created another challenge associated with power as mining of PoW coins has to do with consumption of electricity and that poses a bi glife problem but PoS has solved that and its a good one.

Upgate

member

Activity: 560

Merit: 14

Quote from: Nasonn on April 02, 2020, 08:44:01 AM

What happens when projects run out of funds to pay stakers as their rewards? If everyone stakes their tokens, what will the rewards be like for small holders? Lastly staking is not really the next step that's my thoughts because lots of things needs to be reconciled before we can say staking is the next step.

Stakers are being rewarded by the token they are staking at the end. Although it all depends on the time frame of staking the token. Majority of staking I have encountered is from 3months to a year plus and its for all the token holders, whether small or big.
Staking is quite good for a new project that wants to grow, so as to avoid early dumps

Eddyc

sr. member

Activity: 1020

Merit: 391

In practical terms, PoS are intended to reward long-term holders but this affects the current price and creates some difficulty for new investors. When we buy at a certain high price, there is the possibility that someone who has masternode to dump in the market causing prices to fall, making trust difficult. In my opinion there are two paths: Mass adoption of the project or waiting to finish the distribution of the PoS.

Pgilbert

member

Activity: 73

Merit: 10

Because it make some coins more stable less coins in circulation, more coins locked due to staking, its important to grow a coin and is better for low price coins.

Agios

jr. member

Activity: 48

Merit: 4

I do crypto staking on the desktop just for fun not as a business (prioritizing profit), like we save money in the bank and earn interest, I always increase the amount of crypto if there is idle crypto, and if one day if the amount is possible, I will take and exchange crypto staking with other cryptos.

poodle63

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Leading Crypto Sports Betting & Casino Platform

Quote from: @baoli on May 15, 2020, 07:29:03 AM

I think it is a little tricky when one stake. The POS system is good for some because what will happen when the project runs out fund to pay for stake. Sometimes, the price of the coin goes down and make stake earned useless

that's true and all depend on the price of coin. FYI if the only staking token that has gotten a lot of demand should be the major coins. Did you see that there are so many POS tokens that are not so popular become worthless to be used as our staking coin.

irixo10

full member

Activity: 1078

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GoMeat - Digitalizing Meat Stores - ICO

You are right, many projects now supports it because the team have realised it helps as well. However, although staking is good but yet there is need to be careful with the type of projects we participate in their staking programs, some projects can still use it as a means to exit scam. That is, a project can bring about an attractive staking systems to attract users while having another opinion altogether. The reason for my contrary thought is that, scam projects keep coming up while looking for different tactics to achieve their aim.

ololajulo

sr. member

Activity: 2240

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SOL.BIOKRIPT.COM

DEFI is overtaking the staking and some people are surprised how DEFI got so much acceptance and the price response, the response is really bizarre. The decision to join DEFI might be late for those castigating the idea. For now that ICO seems not to coming up, DEFI could leading us into the bull market, besisde, we dont need as much ICO with the high number of coins in the market.

funex

jr. member

Activity: 573

Merit: 1

I do stake my tokens but i am careful of the token i am staking . I must carryout thorough research on such projects before deciding on whether to state or not. if its a good project then by staking you enjoy your dividends at ease.

@baoli

jr. member

Activity: 1162

Merit: 1

Base.protocol

Staking helps keep the coin block chain busy. I have seen staking do not improve price in some cases. More people get the token and dump it, there by lowering the price. A coin use cases is very important

Convery

sr. member

Activity: 966

Merit: 254

I would be very careful about pos cryptocurrencies. Imagine, if you hack Bitcoin, you can affect the network for 20minutes? But when you hack pos crypto, you can erase everything at once.

Lizzylove1

member

Activity: 858

Merit: 13

Christ The King

Some altcoin staking is nothing but scam. While staking what if the price went dead? Stalk only good project. Well I am yet wealthy enough to stalk my altcoin because I can make ×10 in trading in 5 days what I could get in 1 year staking. Staking favours the rich.

TheUltraElite

legendary

Activity: 2898

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So anyway, I applied as a merit source :)

Quote from: @baoli on May 15, 2020, 07:29:03 AM

I think it is a little tricky when one stake. The POS system is good for some because what will happen when the project runs out fund to pay for stake. Sometimes, the price of the coin goes down and make stake earned useless

Not sometimes, Always. It is always that way with PoS coins. They are promoted because they seem to provide a passive income instead of having to monitor price of PoW coins to strategize your trades and make profit with them. That is the marketing technique of PoS coins, by sabotaging name of PoW coins which itself is a red flag.

One or two people might find a PoS coin to be worth selling when the price is low because they got in early. So that is when it becomes nothing but a Pyramid scheme investment simile. Those who are staking late will be the first to lose their money when the team decides to decieve its investors and end the pump and dump.

ashraf100786

jr. member

Activity: 1778

Merit: 1

Many projects awards users to stake There are good projects, the value of their coins is getting better day by day This is a good thing in cryptocurrency And many Exchange B rewards their users in this way And I also know some coins that give good rewards.

@baoli

jr. member

Activity: 1162

Merit: 1

Base.protocol

I think it is a little tricky when one stake. The POS system is good for some because what will happen when the project runs out fund to pay for stake. Sometimes, the price of the coin goes down and make stake earned useless

Doranile432

member

Activity: 476

Merit: 22

And also old POS coins are more safer, some new coins are just scam projects that will end up dead sooner or later, you need to be sure before spending your hard-earned cash on any new coin, watch out for volumes, partnerships, trading exchanges and future roadmaps, these are very important

Topic: How Staking Is The Next Step In Crypto (Read 376 times)