Staking vs. mining altcoins | Bitcointalksearch.org

ub27

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Quote from: makemecrypto on December 05, 2019, 11:23:29 PM

I’m turning my eyes towards staking alts, since the market is struggling to pick itself up for the last 2 years and (probably) the only profitable thing in 2019 was mining. Let’s discuss solid projects with decent returns here. Appreciate any insights and info!

Majority is now moving from mining to staking as the apparatus and the market isn't that favourable anymore. Staking isn't that bad but you have to read about it to actually know how it works cos loss is also inevitable with staking

pgbit

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Depends on your location, I could remember reading an article about how the Chinese government confiscated some "illegal" miners numbering in thousands, this would never have been an issue if it was just staking, but staking has it's own downside as well, imagine staking a token when the token is high and at the end of the staking period and the token price becomes very low, you might end up not getting any profit or you could possibly even lose your funds, each has it's upsides and downsides.

Bim abk

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Quote from: asder250 on December 25, 2019, 10:00:13 AM

I prefer staking coins rather than mining. Because you need to buy only PoS coins and that´s all. You don´t need to invest into mining hardware, electricity and space. Also I believe in the future PoS coins will be more decentralized (look how BTC mining is going to be centralized).

many people will choose to staking compared to mining which certainly requires tools that are sufficient to drain capital funds. the ability to calculate monthly expenses is also a challenge for mining, I personally prefer to staking coins maybe because I understand more

Script3d

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Quote from: sorrros on December 25, 2019, 10:25:00 AM

Staking suits much better for altcoins because many new created altcoins that use PoW consensus can´t provide enough protection against double spending attack due to low hashing power of the network.

But there is a huge risk of coin losing its value and now you are stuck with your low value coins, with mining you can just switch to other coins like its not much a big of a deal unlike staking which require you to sell your coins at loss. Even though PoS provides more security it's not for its staker.

poodle63

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Quote from: thisnewcoin on December 25, 2019, 09:42:54 AM

Mining is far better than staking but where anyone can stake a coin but everyone can't bear mining for a long time. If you can mine coins, do it, it is more profitable, if you can't then you may go for stake only good coins, right now, I only care the Energi coin for staking.

You must deal with various things that i don't think so many small miners will actually do that even when the block reward gets decrease and they will be moving to the another coins. It's not worth anymore and staking is a way better compared than mining. Remember time to the time the reward from the block is decreasing a lot.

sorrros

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Staking suits much better for altcoins because many new created altcoins that use PoW consensus can´t provide enough protection against double spending attack due to low hashing power of the network.

asder250

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I prefer staking coins rather than mining. Because you need to buy only PoS coins and that´s all. You don´t need to invest into mining hardware, electricity and space. Also I believe in the future PoS coins will be more decentralized (look how BTC mining is going to be centralized).

BeManga

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Quote from: makemecrypto on December 05, 2019, 11:23:29 PM

I’m turning my eyes towards staking alts, since the market is struggling to pick itself up for the last 2 years and (probably) the only profitable thing in 2019 was mining. Let’s discuss solid projects with decent returns here. Appreciate any insights and info!

well you need to have a large amount of coin to start staking
im used to stake some coin before and splitting it in minimum amount can generate more earning
there is some popular coin that will adopt POS in 2020 but you need to aware that POS is very risky and sometimes it's not profitable

lionheart78

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Quote from: gensol on December 06, 2019, 12:55:07 AM

Staking is more dangerous than mining.
1. A staked coin must have gains before they can share payout to stakers
2. Some of these projects don't have liquidity, they don't have utility to fuel their prices up.
3. You purchase these tokens before staking them, their prices could dump heavily during your staking period leading to loss even when you don't get anything at the end
Take COSS for instance, if the exchange doesn't make any returns, they won't share anything if the returns are too poor the payout won't be of any good.

At least with staking you won't have the trouble of configuring your mining farm. You just need a pc or a vps then setup your wallet there and stake. I think mining is as risky as staking if not more risky. Imagine your mining rig crashing before you even get your ROI.

Mighty_crypt

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I used to enjoy mining coins but not profit is very low to none so I end up selling my mining rigs few days ago to PC gamers, glad I sold at reasonable price and now i want to buy tezos and start staking, POS is very convenient

thisnewcoin

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Mining is far better than staking but where anyone can stake a coin but everyone can't bear mining for a long time. If you can mine coins, do it, it is more profitable, if you can't then you may go for stake only good coins, right now, I only care the Energi coin for staking.

Ken_terrance

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Staking requires capital and a minimum requirement of tokens or coins you have to buy before you can start staking, it's stress free unlike Prove of work that's why POS is my best choice

cunguks

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Quote from: VDraci on December 25, 2019, 07:43:14 AM

People think staking is that simple, to mine coins and get good profits you have to build better top mining rigs, it's almost same thing with staking, to get higher rewards you have to buy large quantity of the coin and hodl, the truth is it's very costly

all use capital, but I think staking is more risky than altcoin mining. altcoin can disappear at any time. especially if it is related to a platform that can be a scam at any time.

VDraci

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People think staking is that simple, to mine coins and get good profits you have to build better top mining rigs, it's almost same thing with staking, to get higher rewards you have to buy large quantity of the coin and hodl, the truth is it's very costly

calandra78

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Quote from: acsalles on December 25, 2019, 07:31:45 AM

Mining problems are common when the cryptocurrency market goes up in 2017. But in 2019 the market has been on a downward trend recently. I suspect mining is no longer a method of making money on development.

many miners already feel a loss when calculated for the coins they get from mining today. but isn't this like a situation where in the past bitcoin was very cheap and mining was a ridiculous choice? but when the market and the price of bitcoin increased, who would have thought that bitcoin miners at that time had become very rich.
this is the same as altcoin, although the bitcoin and altcoin market characters are certainly different. but at least the conditions at that time can give us lessons to be able to stay focused and confident in what we do.

sjbi

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I am into neither of them as I do not have necessary equipment to mine coins like bitcoin and I do not take it seriously to stake coins. For me, bounty campaigns and airdrops are the best choice to earn free coins. In bounty campaigns, you will earn free tokens without any investment and much efforts. You can try it.

acsalles

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Mining problems are common when the cryptocurrency market goes up in 2017. But in 2019 the market has been on a downward trend recently. I suspect mining is no longer a method of making money on development.

Edraket31

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Quote from: notthematrix on December 13, 2019, 09:52:49 AM

Quote from: Xardasim on December 12, 2019, 11:18:36 AM

Quote from: notthematrix on December 12, 2019, 10:01:47 AM

Staking does not take any computing power from the user, it's not even a question, obviously it's more profitable.

If, of course, you know where to put your eggs, like the recent XTZ stakings, very profitable. You can easily make 10k a year only with a 100k invest.

It is clear that staking is a more effortless and easy way to make money. Getting rig needed for mining and having high costs are not desirable. The only problem with staking is that it is frozen for any time. If you have other opportunities during this time, you will have no choice but to wait.

That's why iit's important to choose carefully the right and ambitious projects for staking funds.
Projects like Tezos are totally worth it. This is for all the people who prefer the hold in a project they trust over the day trading. Personally, I'm used to holding projects for months so it suits me.

Yes better ask ourselves, what can we see our self in doing a job, are we seeing mining, trading or staking. Everything of them can be really profitable if we love what we are doing, but before that we should realize first the profit that we will win, let's check first if it is profitable or just wasting your life, so don't just settle for the thing that because it's easy to do, let's challenge our self sometimes.

notthematrix

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Quote from: Xardasim on December 12, 2019, 11:18:36 AM

Quote from: notthematrix on December 12, 2019, 10:01:47 AM

Staking does not take any computing power from the user, it's not even a question, obviously it's more profitable.

If, of course, you know where to put your eggs, like the recent XTZ stakings, very profitable. You can easily make 10k a year only with a 100k invest.

It is clear that staking is a more effortless and easy way to make money. Getting rig needed for mining and having high costs are not desirable. The only problem with staking is that it is frozen for any time. If you have other opportunities during this time, you will have no choice but to wait.

That's why iit's important to choose carefully the right and ambitious projects for staking funds.
Projects like Tezos are totally worth it. This is for all the people who prefer the hold in a project they trust over the day trading. Personally, I'm used to holding projects for months so it suits me.

Nguyenthanh2391

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I think betting is much more dangerous than mining. This bet requires us to have a great faith in a currency or some kind of investment. A good percentage of opportunities also does not compare to other job paths.

Topic: Staking vs. mining altcoins (Read 842 times)