How Staking Is The Next Step In Crypto

bayu7adi

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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

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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

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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

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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

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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

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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

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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

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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

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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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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

Doranile432

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Staking is not the biggest thing in crypto space right now, even DeFi is more important now, though POS coins are better in some areas than POW but DeFi use case is growing more better

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: fosco333 on May 14, 2020, 01:44:15 AM

Staking is good for environment, doesn't consuming electricity, producing heat, etc.

Running your computer does not consume electricity right?

All that "environmental" issues is a coverup to make the PoS thing look legit while it actually is not. They appeal to your emotions of saving the planet but you fail to realize that they are just putting up a fake mask to use that statement to make others buy their coins to start the staking. Of course when you have been staking coins, you need to sell them later on.

Where can you possible sell those coins if they are worthless on the reality?

To some bamboozled fools like bounty hunters telling them that staking is good for environment and PoW is bad likewise while actually they are looking to just exit the market. Thats how this endless cycle runs.

Quote

But i see many success PoW coins more than PoS coins, maybe it is because the miners community can make the coin more valuable.

That is a different thing. We should talk about Bitcoin which has been successful because it has some ideology behind it and rest are all copycat very few having anything good to develop on.

fosco333

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Staking is good for environment, doesn't consuming electricity, producing heat, etc.
But i see many success PoW coins more than PoS coins, maybe it is because the miners community can make the coin more valuable.

royalfestus

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Quote from: key4co.in on May 13, 2020, 12:24:54 PM

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?

The most essential purpose for staking is to support the operations of a blockchain network, that is the more reason why you get rewarded for staking (or locking your coins for a given duration). In as much as POS coins are trending, I still do appreciate POW coins since both have pros and cons. When there is staking announcement for POS coins, it's now a price driver like what happened to COTI few months back.

The market has not favoured the purpose of staking for most coin, the price response is till low and some never got ico price with top exchanges and low supply with the staking. It is meant to control large dump, generate scarcity and give profit to stake holders, some as long as 2 years. Even with product in markets, some with more product yet cant drive the price and volume. I feel the sentiment is as important as other developments in token economic/management.

reallester

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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?

[/quote

Staking is good. Especially for those who dont intend sending out or transacting their tokens. Staking I will say is same way as saving your money in the bank while it accrues interest usually annually. But what I keep asking myself is how much staking is profitable. Is staking more profitable than trading?

fvb

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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?

Yes, I put my assets in staking. Now it is on many platforms and wallets. In particular, in my Atomic wallet, there are several cryptocurrencies and they are in staking. Another good plus from airdrops, if you keep on balance the right amount of different coins. Although a small income from this, it is better than just keeping the coins on balance.

key4co.in

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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?

The most essential purpose for staking is to support the operations of a blockchain network, that is the more reason why you get rewarded for staking (or locking your coins for a given duration). In as much as POS coins are trending, I still do appreciate POW coins since both have pros and cons. When there is staking announcement for POS coins, it's now a price driver like what happened to COTI few months back.

Ryushin

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Staking have been around for a while now so it's not a new thing, many new about proof of stake coins and few old coins are even changing from POW to POS but not all of these POS coins are good, ethereum is planning to join the train soon too, I kinda thing Ethereum will triumph other POS coins once eth switch to proof of stake because of its popularity v

bison

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Quote from: hinorizk on May 13, 2020, 08:28:07 AM

I don't know whether staking is the next big thing or not since to my experiences, coin with staking system either hit or miss, the latter are more likely. The hardest part of staking is how to get the math right to not cause the inflate but still look attractable toward holders for them to stake.

I don't think it will be bigger for the future. Staking is done by projects with great confidence in their exchanges or personal sites. Be careful this will be very vulnerable to scammers.

Furryball

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You can't stake all POS coins in your wallet, many of them requires sending out coins from your wallet to a specific address to active your staking, this is why I find it difficult to trust, now even top exchanges are introducing POS rewards on their platform, very risky if you ask me

hinorizk

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I don't know whether staking is the next big thing or not since to my experiences, coin with staking system either hit or miss, the latter are more likely. The hardest part of staking is how to get the math right to not cause the inflate but still look attractable toward holders for them to stake.

siddartha1492

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Staking is cool, but still has some drawbacks currently. Like
1) Some projects require you to deposit your coins in a centralized wallet to get staking rewards. So there is high risk of losing your coins if project is hacked. Obviously such projects are on high target list of hackers.
2) Some require you to lock your coins for a time duration. Which means you can't sell your coins to profit bull run or if you have to sell them coz of some emergency.
3) Experienced traders might get better returns from trading than staking.

Python Master

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I love crypto staking, it's more safe than trading and investing. You know that we only receive coin from staking so choose project carefully. Only choose project that have good price growing. At this time i only join staking program of IQ coin.

aemma

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In my own opinion, staking can be good at the same time can be bad; good in the sense that the project have something good and attractive it offers which then makes the token to have value, in this case, you are sure that the reward you are getting for staking your asset is worth it. On the other hand, most projects don't have any use case, thus staking in this case will only end up in a bad way. Also, it is possible that most team can also use the idea of staking to get what they want and exit scam, nothing is impossible for most teams to do. Therefore, let us always research every project and then knowing if the staking system is good enough or not.
In my own case, I rarely stake, I prefer trading it.

jrrsparkles

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Quote from: Twinkledoe on April 02, 2020, 02:37:20 PM

Quote from: jrrsparkles on April 02, 2020, 02:31:34 PM

IMHO,staking is not popular and not worth it as well in my opinion. The returns from staking a coin or token a year will be in single digits and more legit coins have in fractions but the same returns can be made in a day or two by simply trading with the swing price movement.

Actually, this is true in most PoS coins. Like for example, I am staking some coins now one is already in the exchange and the other one is not, and I guess it will be miracle if the last one will hit the exchange. So I stopped the last one as I have no hope for that anymore, wasted resources. But the other one, I don't know if I can get profit out of it. Staking really depends on the coin's development. It is not how much you are getting everyday, but the real devt behind it. Because without devt, they will not attain good value in the market.

I meant to say that even if the coin has real development staking is pretty useless compared to the returns because we can't liquidate if there is a need for it and holding cryptos on exchanges have chances of getting hacked.Trust wallet offers staking which is better compared to staking on exchange but still I won't do that.

bgaf

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Quote from: 20kevin20 on April 02, 2020, 08:34:48 AM

I do have a few alts I'm staking on my Trezor & Ledger, but it becomes a little headache because I have to visit specific websites to claim my rewards.

Hello can I know what altcoins are you staking on your hardwallet? So meaning you cant get reward directly on your wallet for the staking? What was the difference of it on typical exchange staking like Binance and Kucoin? Staking is also a great opportunity in holding but isnt it too hassle to visit websites for claiming rewards?

I have some coins on my Binance account but staking lapses already and limited. But I am getting the simplicity on using it on the exchange rather than own wallet but yeah it will be risky since we cant control that one on the exchange.

TheUltraElite

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So anyway, I applied as a merit source :)

Staking is not the next step or the next big thing.

Stop flooding this forum with such bullshittery where you try to prove your point but without any backing to your claim. If someone wants to stake their coin and that coins allows it, allow them do so at their free will, not promoting something that going to be a scam in future.

People here are easily swayed by such attempts where they are promised small passive income methods and they put in large chunks of money. In staking it is similar because you pay a premium amount and get some interest like returns every week or month. But nobody knows when one fine day that site will shut down and premium money will be gone.

BChydro

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Quote from: mrdeposit on April 02, 2020, 06:44:36 PM

Staking altcoins have seen a great interest by the majority of the long term investors. Even some exchanges sent a dozen mails for joining their XTZ staking contest but the conditions are not good for the small investors. Cex.io even has the staking feature but I don't think POS coins will be valuable due to the inflation.

It is a shitty idea and it will burn out in the next ten years, it is a monopoly solution where the rich dictates things and i am not going to use those coins or whatever token, initially there will be a huge rush and eventually it will flame out just like the ICO market, it looks fresh when it is new but when the small time investors or traders understand the monopoly people will find better coins which has utility.

mrdeposit

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Staking altcoins have seen a great interest by the majority of the long term investors. Even some exchanges sent a dozen mails for joining their XTZ staking contest but the conditions are not good for the small investors. Cex.io even has the staking feature but I don't think POS coins will be valuable due to the inflation.

nutriagrigia

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no. I do not do this. I choose the option of trading. but you can also use Landing on a Binance. Staking for me is a very small percentage, and it’s better to sell your assets all the right time and not keep them frozen for a long time

vycl87

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I used to use staking apps and wallets of those coins. But one day I noticed that the beings I had were scattered in many different places. I was stake at least 10 different coins somehow.

I also noticed that the rewards that come with staking don't cost a lot of money. Then, I chose to reduce the number of coins I stake and use soft-staking methods, as in Kucoin.
(In addition, XTZ, ATOM and TRX staking in the Trust wallet can be used very easily.)

Febo

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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.

Yes you are right there. Staking is hoarding of coins. But if coins you are hoarding have no use case beside giving staking reward to owners, then that is a classical ponzi to me.

Twinkledoe

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Quote from: jrrsparkles on April 02, 2020, 02:31:34 PM

IMHO,staking is not popular and not worth it as well in my opinion. The returns from staking a coin or token a year will be in single digits and more legit coins have in fractions but the same returns can be made in a day or two by simply trading with the swing price movement.

Actually, this is true in most PoS coins. Like for example, I am staking some coins now one is already in the exchange and the other one is not, and I guess it will be miracle if the last one will hit the exchange. So I stopped the last one as I have no hope for that anymore, wasted resources. But the other one, I don't know if I can get profit out of it. Staking really depends on the coin's development. It is not how much you are getting everyday, but the real devt behind it. Because without devt, they will not attain good value in the market.

jrrsparkles

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IMHO,staking is not popular and not worth it as well in my opinion. The returns from staking a coin or token a year will be in single digits and more legit coins have in fractions but the same returns can be made in a day or two by simply trading with the swing price movement.

GreenStox

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No, I prefer to sell and buy for now, although coins can be made through the use. However, if market conditions continue to deteriorate, the value will be the same or even worse. It is better to wait for the correct entry to enter and unblock it.

OasisDre

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Proof of Stake is safer but comes with lower profits, still better than POW for me because you just click on stake button and you sit back and continue with your life, you don't have to worry about costs of mining or cards overheating

Winscosinally

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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.

Then be more careful which coin you decide to stake, not all POS coins are worth buying and staking, go for the old projects or Tezos, for me I'm looking forward to solar mining, the only problem with Proof of Work is electricity cost, if there is a way or solution to power / electricity then it will be way profitable

Winscosinally

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I find staking to be very easy, no worries about other things like cost of electricity or high and low mining difficulty but I prefer POW over POS simply because its more fun, staking a coin for an annual will only fetch you few %%% but trading can fetch you more

Mulann2

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Not all crypto is stackable and sometimes staking a coin requires the person to have their pc running 24/7 which most people like me can not afford to do, reason because I don't have a dedicated internet connection at home, there is no guarantee of constant electricity Wink

so this limitations may hinder some not to be able to engage in staking,
Maybe even you have an online staking platform, it could that your coin is not part of available coins there, that too is an issue,
Although staking can give more reward instead of just holding.

jossiel

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Not yet.

I'm waiting for the transition of Ethereum from PoW to PoS so that I can share a portion that I hold from my portfolio to a pool to stake the coin.

palle11

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Some project already have staking in their program especially with bounty hodlers. Although many times it is conceal from bounty hunter but at the time token is distributed to you, you see it that you can stake it for few note token after some duration of time. Yes I have noticed that with some bounties.

Lhaine

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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.

actually this questions should ask directly to the project owner that have staking rewards they are the one who can answer it. They will give different answer for that questions other will use the buy coins so they can continue rewarding people if they already got the maximum supply of the coins.

Staking has been announce even the bullmarket start in 2017 do its not new ideas.

Nasonn

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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.

20kevin20

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I do have a few alts I'm staking on my Trezor & Ledger, but it becomes a little headache because I have to visit specific websites to claim my rewards. On the other hand though, a little more every day doesn't hurt at all. However, the amounts I'm holding in alts is pretty small in comparison with BTC..

Is staking really "the next step"? Because AFAIK, staking is much less safer than PoW is..

Psynthax

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Im still staking my asset and it becomes a popular thing caused by people can start to earn without to do anything. Your token acts as your power in the network to help to secure the network. You get your reward from your power to help the network. I never encounter any problem with it and i can still a few bucks every day. That's not bad.

Tipstar

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POS coins awards users to stake and keep the wallet active as it helps to verify transactions and keeps the blockchain running. Staking of limited supply coin can be useful as the price may rise with rising demand and lower supply. Some services like binance exchange rewards users for holding coins on their wallets.

OGEOS

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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?

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