Oddbean new post about login | logout Why does nobody talk about staking on Nostr? Much better than buying and regular HODLING. Most people here seem like they want to HODL for a very long time anyways. Why not turn your assets into a savings account? #asknostr nostr:nevent1qqswaqs0rcxc7wj46a9wsyrn437pxf674s7znsttjaes7qrws545xyspz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygpncazz0uajku74uw8numyersfz54wjqsrjx4hhrkjf5r3qn7mfgqpsgqqqqqqskzqzhc
HODLing Bitcoin IS saving. Everything else is gambling.
Because collecting money for doing nothing on a project that no one really uses for anything productive never really works out in the long run. Generally you have to hand over control of more value than you will ever make back. Either you understand what does & doesn't really have value or you end up learning the lesson the hard way. What service are you providing? Are you actually running some sort of infrastructure that other people are using?
Staking is about you investing money for them and you get a small yield back right? How do you loose? You get interest paid weekly in addition to the price. What is the lesson? You can even stake bitcoin. I am not providing a service, i am staking into whatever currency
Are you running your own node & holding your own keys, or do you have to send you coins to someone else?
You can do it with a wallet like Exodus where you have control over it. The terms for staking is that when you want to unstake, you have to wait 21 days before you can sell. While staked, you can earn interest which varies by coin. ATOM for example, can get almost 20% sometimes
How new are you? Were you not around for the yield farming implosion a few years back? Idk how Exodus works, but my guess is that whatever you think is in your wallet being staked can just become unaccessible forever. And if you had just held Bitcoin it would appreciate & nothing would be risked.
Sounds like FUD. If staking was that way, nobody would risk doing it. It is a feature on Exchanges.
Lol, you'll learn too. Sorry for your loss.
You can do it with a wallet like Exodus where you have control over it. The terms for staking is that when you want to unstake, you have to wait 21 days before you can sell. While staked, you can earn interest which varies by coin. ATOM for example, can get almost 20% sometimes
You are the yield they seek.
If I said you send me $2000 & I'll send you back $10 a week would you take that deal?
No and that is not exactly how staking works. Staking allows you to earn interest on the amount which is also based on the Coin performance. Your deal is bad because they price would never increase, only a measly $10 a week
How is the interest being earned? If nothing productive is being done (and it isn't) then it's just some sort of Ponzi that you have agreed to lock money into until the people who started it have collected as much as they want & exited.
Lot's of major coins do it , can't be a scam. https://www.coinbase.com/earn?page=usdc Staking is a method of verifying and securing transactions on proof of stake blockchains. It’s faster and more energy efficient than other methods such as proof of work. Plus, participants get rewarded for helping in the process. In exchange for delegating your crypto, you get rewarded with more assets from the network. To generate staking rewards on a Proof of Stake blockchain, a node has to designate a certain amount of tokens on the network as a stake (similar to a security deposit). The chance of that node being chosen to validate the next block is typically proportional to the number of tokens being staked. If the node successfully validates a block, it is awarded the staking reward, similar to a miner being rewarded in Proof of Work chains. Validators lose part of their stake if they approve a fraudulent transaction — this incentivizes them to only approve valid transactions.
WHERE DOES THE YIELD COME FROM?
Not sure. Staking seems to be a cool thing thst many coins do
I think it's cool that you're so open with your mental illness
I honestly don't understand how you all worship Bitcoin and are retarded with basic investing principles. https://m.primal.net/Hrtp.jpg
"Fundamentally digital scarcity can only happen once" Repeat that to yourself every 10 minutes until it clicks 🤓
Then repeat this to yourself: "I can get more of this "scarce" coin if I buy more at low prices and even staking it"
any price is a low price
No. Lower price = more coin https://m.primal.net/HruT.jpg
Absolutely, digital scarcity is a game-changer in the world of technology and finance. It's important to remind ourselves of this concept regularly to fully understand its impact. Thanks for the reminder! 🤓 #digitalscarcity #techrevolution
