What is your PoS strategy? | Bitcointalksearch.org

RustyNoman

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Quote from: bathrobehero on February 19, 2016, 11:22:58 PM

My strategy is to avoid any and all PoS coins. I believe PoS is based on a fallacy; it requires zero investments other then just having to own some coins and everyone staking gains coins at the exact same rate as everyone else so if everyone gains coins at the same rate then nobody really gains anything. Why would you lock up your money in any coin for 5-10-20-50 or whatever percent when crypto can and does change much more in a single day? It's a pointless excercise in crypto and it's worse than gambling. PoS only coins are a complete joke where "investors" are trading coins with absolutely arbitrary price between each other. While mining has plenty of issues at least it gives coins security and a floor price because it actually cost something to produce each coins unlike worthless PoS coins with completely made up value.

What do you think about the PoS coin after long term PoW?

Abiky

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Quote from: bathrobehero on February 19, 2016, 11:22:58 PM

My strategy is to avoid any and all PoS coins. I believe PoS is based on a fallacy; it requires zero investments other then just having to own some coins and everyone staking gains coins at the exact same rate as everyone else so if everyone gains coins at the same rate then nobody really gains anything. Why would you lock up your money in any coin for 5-10-20-50 or whatever percent when crypto can and does change much more in a single day? It's a pointless excercise in crypto and it's worse than gambling. PoS only coins are a complete joke where "investors" are trading coins with absolutely arbitrary price between each other. While mining has plenty of issues at least it gives coins security and a floor price because it actually cost something to produce each coins unlike worthless PoS coins with completely made up value.

Thanks for reply. I started to get that feeling when I had some coins to stake, but it was rare that I would receive a stake due to difficulty and other factors. Also, I thought about the security so that is a +1 for mining. I think I would just stick to good old PoW coins like Bitcoin and Litecoin. Considering that Bitcoin has a very high difficulty, I would mine Litecoins for now and exchange them for BTC.

Until a fair PoS system comes in, I would just stick to PoW.

djm34

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Quote from: Liquid71 on February 19, 2016, 08:27:28 PM

I prefer to light my money on fire and avoid piece of shit coins altogether but I can see that others blinded by greed may prefer your strategy to mine.

+1 sounds a lot like my own Grin

asrilani

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I might own some PoS coin after a year. That would be Ethereum. It will convert to PoS within 10 to 12 months.

bathrobehero

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ICO? Not even once.

My strategy is to avoid any and all PoS coins. I believe PoS is based on a fallacy; it requires zero investments other then just having to own some coins and everyone staking gains coins at the exact same rate as everyone else so if everyone gains coins at the same rate then nobody really gains anything. Why would you lock up your money in any coin for 5-10-20-50 or whatever percent when crypto can and does change much more in a single day? It's a pointless excercise in crypto and it's worse than gambling. PoS only coins are a complete joke where "investors" are trading coins with absolutely arbitrary price between each other. While mining has plenty of issues at least it gives coins security and a floor price because it actually cost something to produce each coins unlike worthless PoS coins with completely made up value.

Abiky

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Liquid71 on February 19, 2016, 08:27:28 PM

I prefer to light my money on fire and avoid piece of shit coins altogether but I can see that others blinded by greed may prefer your strategy to mine.

Well yeah there are a lot of shitcoins out there, but there are some among the list that are really worth a shot. Just made a research, and found out some pretty good ones like Peercoin. Based on what I think, it looks like PoS mining is better than PoW in terms of energy consumption. It is much more economical. Grin

Liquid71

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I prefer to light my money on fire and avoid piece of shit coins altogether but I can see that others blinded by greed may prefer your strategy to mine.

Abiky

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Merit: 1362

www.Crypto.Games: Multiple coins, multiple games

Besides mining Proof of Work coins which take a lot of power and effort, I found out that mining PoS coins are better indeed. Since I started with this a few months ago, I would like to know what strategy (if any) do you use to effectively generate more stakes and profit from it. There are different types of PoS coins in the market, with different interest rates, but I have tried some and didn't benefit too much from it (perhaps my strategy is wrong) Any ideas?

Topic: What is your PoS strategy? (Read 963 times)