Oddbean new post about | logout
 There is no such thing as Bitcoin staking

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 💩coiners, all the way down. 
 The stakes are the knowledge we gain and the yield is the friends we make along the way 
 It’s using bitcoin to back up PoS chains and you get paid back in PoS coins, not bitcoin. Except right now. Apparently you can lock in now but can’t stake yet so I don’t get the point. Either a lot of people fell for this or something in the code fucks the mempool with only a small amount of these “staking” activities. 

https://image.nostr.build/0948839dfb5d98a0942aad13bb8bd33548772f63ad0003f32a2e61dbdc1fa253.jpg 
 Hysterical...

"Do I get rewards for staking?
No. This is a locking-only phase without a PoS chain. There is no PoS staking reward nor incentives for participation." 
 Babylon huh? I wonder where the yield comes from 🤔 
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 https://image.nostr.build/cfa045cb4d4bf92ea5a902e263b344318dbb362af556e7e3ea7b02137981799f.jpg
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 Idk much about staking, but it always seems like a “get something for nothing” scheme, which never works out