Topic: Is POS Mining Profitable? (Read 5656 times)

Reviving an old post just to shill for your coin? I can appreciate the effort.

Just some thoughts:

1. Cryptonex volume on coinmarketcap seems to be UNRELIABLE because the reference is the cryptonex exchange itself. This was the case with Bitconnect which turned out to be a SCAM.
2. Cryptonex website uses all stock photos. Makes it like nothing is real.
3. What is blockchain acquiring? What does "the world's first blockchain acquiring" even mean? It may intrigue some teenage ICO investor but in reality it seems like BS. The website doesn't even explain this in the FAQ. There is no whitepaper.

Overall, Cryptonex smells like a SCAM.

I think you have a good attitude towards this problem... I wouldn't trust a staking pool, there are to many variables... I've read Gleb Gamow's thread on stakeminers, about the fact that they are unsolvent. Keep the coins on your own rasbpi (like suggested in this thread). It'll cost you a couple bucks a year worth of power, but you'll have access to the private keys holding your coins at all times

I would like to PoS myself. I do not want to give control to others. PoS just need a very little computing power.

That's the PoS pool that seems to be serious (be careful about giving control over your coins, though). You can find more information about how it works in their thread
https://bitcointalk.org/index.php?topic=1091402.40

So that is just a service to stake the coin on your behalf.

But should be PoS earning same in percentage terms on all the coins? If you have more coins than I, You mine x% coins, I will also mine x% coins.

Do you really mean sell or send?

The link I posted is a Linux system with several wallets included, so you can use a simple Raspi to stake your coins.
The PoS pools I mentioned are similar to usual PoW mining pools. But instead of hashrate, you deposit your coins there (like an online wallet). They use all deposited coins from all users to stake (gain higher PoS earnings due to higher amount of coins) and each users gets a share depending on the percentage of his deposit.

I hope I was able to answer your question?

Can you just sell your coin to them?

btw, this might be interesting for PoS investors
https://bitcointalksearch.org/topic/official-rokos-flavors-crypto-full-node-os-iot-devices-feedbackdiscussion-1084908

There are currently some PoS Pools that collect coins from investors to gain higher profits from staking.
I'd be very careful. I have been scammed by such a service 1 year ago and read something that one of the current providers doesn't so to be 100% legit, too.

Always think about: As soon as you've transferred your coins to such a service, they are out of your control and you never know if your coins are still available the next day. So it might be better to use a Raspi and use a solution like the link I posted

Nice and truth
Longterm and never gamble with funds you can not afford to lose is key factors for a healthy investment enviroment.
Never run it by emotions, but follow your plan!
POS is a virtual miner, and your earnings will vary just as with POW mining.

Happy staking!

IW

Question is: IS PoS profitable. Nearly nothing in crypto IS profitable (unless you scam other people). It can be profitable but there's no guarantee.

Sure, there are price ups and downs. But if you are honest to yourself, that's not only a crypto thing. Check many FIAT currencies, stocks, indices or whatever. Each product you can invest money in has price swings, some are more, some are less extreme.

Like it was said before, you need to do research (like when investing in the "real world"). There are scammers, there are legit and smart people with good ideas but a lack of time and funds and of course established coins with active development.

Crypto and especially altcoins are very speculative & volatile. Invest only in coins you really have trust in. Don't invest more than you can afford to lose (it's sad to read when people lose their whole money in crypto). The same rules that are valid for any type of investment. Don't give the control of your coins to a 3rd party if you aren't 100% sure they are legit (i.e. PoS pools).

Ok, now you invested in a coin you like, keeping the wallet open and hope for results. PoS is like most investments not a get-rich-quick-scheme, due to the nature of staking. The idea of PoS what not to make stakeholders rich, but to secure the blockchain, so a coin needs longterm holders who from time to time sell a part of their coins but keep the majority.

And what to do when price goes down? What would you do as an investor of Apple when the price of the stock goes down? Nothing, cause you have trust in the company and believe the price drop will be only temporarily. There are a lot of factors that can cause a price drop, a huge price increase/decrease of BTC, holidays (people cashing out in FIAT), pump&dump and more. Have a look at stock-/forextraders. They take the advantage of a price drop to buy more for cheap and unload that portion when price comes back.

Just an example (not a PoS coin but will show what I mean):
http://prntscr.com/9lgrsx
A popular and established altcoin with some price swings in both directions. Buying the lows, selling at highs, together with extra coins from staking, would result in a nice profit. Currently, most altcoins rates are very low. But check out last April, the pump&dump period. All who bought for cheap in the bad months before made awesome profits. And as pumpers won't stop, the next p&d period will occur, for sure.

TL;DR
With a good selection of coins, patience and trust, you can make profits from PoS investments.

POS can absolutely be profitable, but like others are pointing out you will need to diversify good to "absorb" the price swings.
A good diversified portfolio will provide steady incomes over time.

We have many POS coins for sale in our OTC thread, and we always provide all help needed to get you going.

Happy staking!

IW

Do you have you any experience with the Nubit, Nushare, Peercoin system of staking, minting, and dividends?  It seems very complicated but it's actually a pretty simple, however, robust system.  If you have any experience with the system please share.

Not true, there re several coins which are holding and even gaining in price. Cause good PoS coins have great inflation control mechanisms, similar to BTC block halving. This means less supply to the market, so it all comes down to patience.

If u do plan to have quick flip, then yes, most of these coins are not for that kind of people.

I have experience with pos mining when using Captcoin for staking i have about 35000 capt on my wallet but unfortunately the blockchain is dead,  my capt wallet never syncing again.. And for now nothing i can do with my 35000 captcoin

True but risk of coin price dropping is present as others mentioned.

nice work and thx for that link. I wasnt even interested in this but happened
upon this thread and read your link. Very cool!

no, because even the storngest one is facing a heavy loss in its price, it does not matter what interest they offer if after soem time you lose 1/3 of your value, it can be good if you also help your earnign via pos, with treading

otherwise you're only asking for losing money

Yes, PoS can be very profitable and I ve been investing and mining PoS coins for over a year. Much better then PoW, no need for hardware, electricity and similar stuff.

There is one VERY important catch though, you need to select the appropriate coin, not all are the same. Here is a small guide which I have set up about the best way to select a good PoS coin.

https://bitcointalksearch.org/topic/altcoin-staking-the-new-way-to-get-altcoins-and-stay-in-the-game-1088925

Let me know if something s unclear, always glad to help out.

Proof of stake mining could be a completely different game, you can't assume it would immediately require the same cost and effort to reward as traditional mining.

If you have information that says otherwise, please share it with us...

Mining profitably is for serious players not hobbyists.   Do somethin else