Stacking vs mining options? - page 2.

acapulco

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Quote from: acapulco on October 03, 2021, 11:29:43 AM

Quote from: Gorosden on October 02, 2021, 01:28:46 AM

Staking Is far more risky than mining

No, I am stacking with my wallet and all is fine, every day I sell my part of my staking and I cash 70 dollars

I must also say that I started with a bet of 300 dollars a little less than 3 years ago

and I sell only basically 10% of what I earned per day

With electricity consumption to make a mining rig jealous

acapulco

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Activity: 67

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With an electric consumption to shame any mining rig Ah Ah Ah

acapulco

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Activity: 67

Merit: 7

Quote from: Gorosden on October 02, 2021, 01:28:46 AM

Staking Is far more risky than mining

No, I am stacking with my wallet and all is fine, every day I sell my part of my staking and I cash 70 dollars

I must also say that I started with a bet of 300 dollars a little less than 3 years ago

and I sell only 6% of what I earned per day

Stunzz

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Activity: 93

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I think staking literally benefit the project mostly as it is being rolled out to keep their price stable and most importantly to boost it. So for you to have agreed to stake your bought share into their pool, it means you've 100% commit yourself to take to their losses too if goes the other way round. But keep in kind that your staked unit of coin is increasing too as time passes, which I consider pretty cool.

So to my own bit of advice, staking is good for people willing to hold for long and longer days as you'll reap bigger reward when the price rebound.

Mining on the other hand is sweet and profitable but I prefer to have it in NFT pools. As it brings much larger rewards.

HardCore12V

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Mining has more advantages than staking and also less risky than staking, if something goes wrong with staking you lose your coins, for example is the project exit scam on you it's over so if you want to stake make sure you go for the biggest coins, but for mining you can switch and mine other coins

batsonxl

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Quote from: arielbit on October 03, 2021, 07:19:47 AM

staking and mining are both okay if you are one the earliest.

if you are late then mining beats staking if you can scale. if that staking thing turns to shit it is done, while in mining you can shift to another thing.

Yes agree early stage very important. I saw people who got from coinlist at he beggining for couple of cents coin and they kept farming those coins now they got way expensive.

arielbit

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staking and mining are both okay if you are one the earliest.

if you are late then mining beats staking if you can scale. if that staking thing turns to shit it is done, while in mining you can shift to another thing.

fmz89

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Quote from: batsonxl on October 01, 2021, 10:58:21 AM

Hi everyone.

I would like to learn stacking too because i think it will be very usefull in the future for people like me and like you please share your experiences.

Ok so here is my experience:
At binance i bought CAKE at price 21$ for 100$. Then i stacked it for 1month there was interest 31.25% something like that. I earned like 2$ for whole month but most funny part is my initials cakes that i bought for 100$ now is 86$ Grin

due to cake lost its price so i lost 12$ Grin

. will be more funny if cake loses price by 50% then you comletely lost.
My question who stakes please share your experience. thanks

the only profitable staking is stablecoin staking and mostly you only got 3-7% annualy heheh, no worries about volatile price, mining in other hand, is always profitable if you electric cheap,

at bullmarket, the electricity is ignored, you will got so much profit from mining, and the earning you can invested in some coin

XUR_TIP

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Quote from: Gorosden on October 02, 2021, 01:28:46 AM

Staking Is far more risky than mining

1. You entrusting your coins into the hand of another, meaning you don't have the power over your fund anymore
2. Not until the staking period is over you won't be able to sell your staking coins and just imagine if the market takes an unexpected turn

As for mining you are in total control of your equipment, wallet address and coins you generates every day, even if market shows sign of incoming crashes you can sell your holdings quickly

Why you exclude the fact that mining in bear market sucks and the only way to carry on is if you have free electricity or extremely cheap electricity fee? A GPU that's earning you 3$ today will turn 0.50$ in bear market, yes we've seen this happened in 2019 and same thing will happen once bear market gets stronger

FinneysTrueVision

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CAKE has been one of the better performing coins recently. PancakeSwap has done a good job at giving it utility and increasing demand. They have also made it deflationary with weekly token burns to compensate for the high APY. Ensuring that more coins are burned than are being minted has kept the price stable even during the bear market.

Quote from: Gorosden on October 02, 2021, 01:28:46 AM

Not until the staking period is over you won't be able to sell your staking coins and just imagine if the market takes an unexpected turn

This is not a problem if you are staking on a decentralized exchange. You can withdraw your coins from a staking pool anytime you want.

Quote from: adaseb on October 01, 2021, 03:35:35 PM

One of the most common risks is the underlying token goes down in value like it did for you. Another reason is called impermanent loss, read about this. This is very common with tokens which got low liquidity and high interest rates. Some value can dump the token on Defi and lead to a huge loss for all the liquidity providers.

Impermanent loss isn't possible with single asset staking. 1 CAKE will always equal 1 CAKE, it can't lose value against itself.

swogerino

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Staking it depends on how the coin will perform in the future.Mining is better I think as you can grab a little of the coin you are mining every day.You have full power over your coins meaning you can sell,invest or do whatever you like with it.You have more freedom as with GPU-s you have a lot of options to mine different coins while in staking you are forced to stake only the coins the exchange or another entity offers for staking,not the best thing to do with your coins.Definitely mining for me as I like a little everyday rather than have to wait until the staking period is finished.

Gorosden

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Staking Is far more risky than mining

1. You entrusting your coins into the hand of another, meaning you don't have the power over your fund anymore
2. Not until the staking period is over you won't be able to sell your staking coins and just imagine if the market takes an unexpected turn

As for mining you are in total control of your equipment, wallet address and coins you generates every day, even if market shows sign of incoming crashes you can sell your holdings quickly

adaseb

legendary

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Is this Defi staking? I’m guessing it must be considering the crazy high interest rate of 30%. I thought about staking also however the more research I did I learnt that there are too many risks.

One of the most common risks is the underlying token goes down in value like it did for you. Another reason is called impermanent loss, read about this. This is very common with tokens which got low liquidity and high interest rates. Some value can dump the token on Defi and lead to a huge loss for all the liquidity providers.

Another is the protocol you are using such as Uniswap might have some bugs in it which aren’t discovered yet. Look at how many exploits in the past have happened to other tokens. It might get hacked and your tokens can all be stolen.

Mining is much much safer.

batsonxl

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Merit: 27

Hi everyone.

I would like to learn stacking too because i think it will be very usefull in the future for people like me and like you please share your experiences.

Ok so here is my experience:
At binance i bought CAKE at price 21$ for 100$. Then i stacked it for 1month there was interest 31.25% something like that. I earned like 2$ for whole month but most funny part is my initials cakes that i bought for 100$ now is 86$ Grin

due to cake lost its price so i lost 12$ Grin

. will be more funny if cake loses price by 50% then you comletely lost.
My question who stakes please share your experience. thanks

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