Bitcoin Forum

Staking Coins

I run some experiment for a almost 2 weeks now to try POS instead of POW. Calculating requirements are way lower. an old laptop should be enough, but you need to have a certain investment, that will eventually grow a stake.

So far, that is

Inflation Coin (IFLT), got some 15% stake in 3 transactions, total 6m IFLT
Bitbean (BITB), nothing so far, total 250k BITB, says 2 more days every day
Embercoin (EMB), I closed that position, looks a bit suspicious to me after all, total 20k EMB
TekCoin (TEK), need to mature for 30 days, so 3 more weeks to wait, total 1.5m TEK

Would be interested in more recommendations/experience.

Hi,

Can you explain how pos work?
So basically i just have to hold the coins and not sell right? Or do i need to keep the wallet open all the time?

It is pretty simple, you install the wallet of that coin, put some deposit in, so more so better.

Set a password on your wallet and unlock it for staking. Bitbean calls it sprouting, but it is the same thing.

It takes a while for your coins to mature, goes from 6 hours to 30 days. Tek is the latter, so I don't know yet what is going to happen. But basically you just let the wallet run 24/7, does not need much computing power. Laptop will do.

Oh just like NEO? Although neo generates gas but it doesn't need to be open 24/7...

Never tried Neo, it's just like the old Bitcoin wallets, but there is no more mining. You simply unlock your wallet and it will show you on the bottom right what is going on.

NEO is the best choice for that, You can try to generate gas by stake your shares in the neo's wallet and you will able to receive your gas automatically caused by from your staked shares.
Remember the gas already listed on the polo which can be determined as the best Pos coin  in this time.

Some coins do take longer to mature than others.  For example, I am staking cv2 right now, and it only took a few days for the coins to reach maturity.  Another one, StrongHAnds, has a maturity level of one month.  Some also offer different ROI levels. 

One of the coolest things about staking, is that you do not need any high powered computer to receive awards like with traditional Proof of Work mining.  I use an older laptop to stake most of my coins. 

Some are quite ridiculous though, such as Stratis.  I had my Stratis wallet one and staking for 45 days and never received a reward.  The network weight is so much, and hte amount od coins that you need to receive a reward is kinda crazy.  But still, it is a good option for people who do not have large amounts of money to fork over for graphics cards, motherboards, and power equipment. 

I read the ANN for BUZZ the other day, which supposedly offers a 100 ROI from staking.  The inflation must be absolutely enormous.   ;D

the way is not so hard, you put the coin purse, some deposit, so it's better.

Set a password in your wallet and unlock it to stake out. Bitbean connect grows, but it's the same.

It takes a while for your money to mature, it will last 6 hours to several days. Tech is the last, so I do not know yet what will happen. But on you only through the wallet running 24/7, do not need much computing power.

First encrypt your wallet with a strong password and save your password  in a vault. After encryption, your wallet restarted and unlock your wallet and tick( for staking only ) to start staking after maturing of your coins. Newly added coins to wallet take  some time to mature and start staking. You get the staking reward as per your network weight.

Hello Coinzzz, The idea of PoS consensus is that you put up collateral on the network and in doing so purchase the right to process transactions / create the next block proportional to your stake in the network.

I have also had poor results staking with Embercoin, probably my stake is not large enough with only 800K coins. Coins that have given me consistent results are Triangles, InflationCoin and Condensate even with modest stakes. Deep Onion is also a consistent payer.  

The BCT discussion thread below has detailed discussion of Proof of Stake coins in case you have not seen it. It is worth a read and mentions many other promising staking coins including RADS, 808, DMD, Mousecoin, etc. https://bitcointalk.org/index.php?topic=1736764.280

Thanks guys, got it now :)

So I have too keep the wallet open right? 24/7

Yes, need to keep it running.

Deeponion is a bit of a mixed story as you can not buy it. Novaexchange is closed for new registrations.

So far I have found DiaMonD to be the best. Very stable coin, nice upward trajectory in its price long term, about 25% interest per year.

-MarkM-

Hi all what are these coins?

I strongly advice against trying to get any serious "profits" from Proof of Stake forging/minting.

"High interest rate"* PoS currencies (e.g. Inflation Coin, Tekcoin, Embercoin with 7200% [!!]) are intrinsically unstable, because they will newer work as a currency if there is 80% inflation per year. So they're basically pump-and-dump coins, and any investment in them (even to stake for as short as some days) is essentially the same like gambling or investing in a HYIP/Ponzi scheme. "Fixed-reward" PoS currencies (e.g. BitBeans) are also very inflationary if you join them in an early stage (in the first months/year after the launch).

Both kinds of coins, above all "fixed reward" currencies, are also very vulnerable to Nothing-at-Stake-style attacks, because there most people are not using them as a currency but are in "for the reward" and so the effect that "it's rational to forge on every fork" is much stronger than in PoS currencies with rewards limited to a low percentage of the stake. So there is an inherent risk of double spends.

Experiments are OK, but don't cry if you just got hit by a phenomenal dump.

(*I know, technically it's not interest, but these currencies are often advertised like a savings account with a high "interest rate")

It is not a tough job to stack. First you have to  encrypt your wallet with password. For staking,you unlock your wallet with encrypted password and click the button for staking only. If your coins are mature, staking start automatically.

They are coins that you use to make more coins. That is the essence of Proof of Stake coins (POS). Some coins are POW, some are POS, some are combination. It depends on

the coin and how it is setup that determines which way it is mined.

Yes, true, but for a total of half a bitcoin or so it is nothing really dramatic. Look at IFLT, you can buy them for 1 Satoshi, just need to wait a bit in the queue, and then sell it again for 1 Satoshi if you're tired of it. So the risk is minimal, whereas potential profit is higher than for mining anything nowadays.

I am staking the following delicious coins right now:
1) DeepOnion (ONION) - staking rewards is very good, it pays it consistently, and this coin have a great community behind it.
2) GokuCoin Reborn (GOKU) - also stakes very well, and staking rewards is very good.
3) B3Coin (B3) - stakes very well too, and rewards is excellent. Right now is the best time to stake B3.
4) MouseCoin (MICE) - you also get very good staking rewards for staking this coin.
5) Condensate (RAIN) - This coin is among the best PoS mining coin in the cryptocurrency world.

I'm currently staking Neblio. You recieve 10% per year, i tend to get successful stakes once a week.

Novaexchange registration is open again, good news!

My Tekcoins matured today and throw out an astonishing ~13% return on the first day. That is after 30 days waiting to mature, so it means ~0.5% a day.

Though will staking take place if I close my wallet? Or will it keep staking?

yea, requirements is really as basic as an laptop that could connect to a network
The only investment = holding X amount of coins

Bitbean is good IMO, if you have interested in POS
My suggestion is that you can take a look at POSW, there are coins that are in the POS field

When staking, you must open your wallet and let it open everyday to stake. Just leave it open, you will see that the wallets is staking as indicated on the wallet where it display how much is staking and how much is your spendable balance. After staking it will return your balanced being staked plus the amount it earned.

What if my internet keeps disconnecting every once in a while does it effect the staking or do I need to login again and again ?

Anyone knows how long it takes for new coins to mature in staking pos wallet??
Thanks in advance

While you are offline, your wallet is disconnected from the network. In this timeframe you cannot find blocks, but everything else would not be affected.

That depends on the cryptocurrency. Most I've seen mature after 7 or 30 days, but the Ponzi-style staking coins with ultra-high "interest" surely mature faster.

Thank you for the information!

I am quite into POS coins. Recently I came to know about xGOx, a coin with high staking rewards of about 1000% which will soon be turned into 5000% after hardfork in November. That hardfork will also reduce the network weight. It is still a month old currency and I think going to give good returns in coming month at least before fork.

Blakestar is now running as PoS. 200% ROI annually, or 16% per month.
Check it out here: https://coinmarketcap.com/currencies/blakestar/

The best serious coin for staking is: Stealthcoin with up to 20% p.a. interest.

https://www.stealthcoin.com/

or

https://steemit.com/bitcoin/@willybobob/stealthcoin-the-hidden-gem-of-privacy-coins

It depends on the coin you are staking. And it also isn't a constant time-frame for a coin usually, by my experience.

The best coin/token to stake now are:

    Coin/Token                 Annual Interest

1. Staker Token (STR) = 100% Year 1 / 50% Year 2 / 10% Year 3-7
2. Komodo (KMD) = * see below
3. MetaCash (META) = 120%
4. DSTRA (DST)
5. PRiVCY (PRiV) = 1st year = 10% / 2nd year = 7% / 3rd year = 5% / 4th +> = 1%
6. Pinecoin (PINE) = 5%

* Any Komodo wallet address that has at least 10KMD will be eligible to receive 5%/12 (0.417%) monthly reward by participating. (https://komodoplatform.com/)
* You don't need to run the Agama/Komodo wallet everyday

if you are running stake of POS coin, you don't need to running wallet everyday.
I'm usually running wallet every week, with same reward as everyday running.
so i'm save much energy and also money