Bitcoin Forum

Because I don't have a powerful computer, rater an ordinary laptop I go for POS. But I think is more profitable to mine POW then POS, because is harder and more expensive.

I did not write myself, this is a copy/paste post, with the hope that it will probably be beneficial for someone.

What exactly is Staking and Mining?

Proof of Stake (PoS)
Using the Proof of Stake (PoS) algorithm that is the basis of many new cryptocurrencies, staking involves the purchase of cryptocoins and holding them in a wallet for a particular period of time. This is akin to a fixed deposit in the non-digital currency sphere. Similar to a fixed deposit which rewards you with a defined interest at the end of the period as stipulated in the contract, Proof of stake also rewards you with additional coins. By holding coins in your wallet, you are rewarded for supporting the network. Therefore, your coins will increase in number depending on how long you hold them in the wallet.

Mining
Mining requires technical know-how as well as computational power so as to solve the algorithmic puzzles involved in blockchain networks. There is the possibility of mining solo or joining a pool to make mining easier and more effective.

The Advantages of Staking

• You don’t have to spend money buying a machine, like ASICS or high-end GPUs used in mining.
• Instead of buying the hardware for mining, you purchase coins and lock them. This will lead to balance and value growth.
• The amount of coins grows as the rewards increase and once prices escalate; your wallet value goes up.
• Staking uses little resources when compared to mining or PoW. This means less electricity consumption and no need for extra machines to participate in staking.
• Given the holder of the coins is incentivized to keep them rather than selling them, there will be stability in the price of coins.
• Staking doesn’t require the technical knowledge of how to participate.

The Disadvantages of Staking
However, once you stake a coin, you automatically lock that coin for a particular period of time and therefore, you cannot sell it.

But in conclusion, PoS strategy is saving the money you would have to spend on mining hardware or buying high-stake crypto-coins from a coin exchange, and committing them to your personal wallet, where you can watch their balance.

Because I don't have a powerful computer, rater an ordinary laptop I go for POS. But I think is more profitable to mine POW then POS, because is harder and more expensive.

If you didn't write the post yourself, you should clearly tag that with the "quote function". If you don't know how to use the "quote function", please check the screenshot attached.
Without the correct quotation, your post could easily be classified as a plagiarism, which leads to a permaban in the forum. I would highly suggest you to edit your post.

https://i.imgur.com/B2aPBpe.jpg

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This would be the proper quotation:

Very good trick, yes, I have given reference. So I don't think my way of reference is wrong. But yes, your way is better, I will definitely use in future

You are already a member you should know better you are a bad example of ranking up and yet ignoring the rule, you should quote it, give your own observation and post the reference link, one quick look and people will thought you have created that thread your way of reference is wrong don't twist it.

PoS can be a better option for the typical person(that can't afford a good number of ASICs) assuming that the PoS issuance stays the same and that the price of that token stays the same or goes higher. Well, as we all know, most PoS coins/tokens are on a downtrend if you zoom-out the charts.

How about something new called Proof-Of-Humanity concept?
https://www.youtube.com/watch?v=m-NGxJfS0mw

Money makes money. If you have cheap electricity and good components, then there is no doubt that you can do good earning through mining.

I started the video but is not what I expected, like a short 2-3 minute presentation of the coin. A intro video is more appealing to me.
New mining algorithm or what is Proof-Of-Humanity? How is this coin mined? There is no cpu nor gpu computational power involved? Does this IDENA have a announcement in here? Thank you!

I started the video but is not what I expected, like a short 2-3 minute presentation of the coin. A intro video is more appealing to me.
New mining algorithm or what is Proof-Of-Humanity? How is this coin mined? There is no cpu nor gpu computational power involved? Does this IDENA have a announcement in here? Thank you!

I started the video but is not what I expected, like a short 2-3 minute presentation of the coin. A intro video is more appealing to me.
New mining algorithm or what is Proof-Of-Humanity? How is this coin mined? There is no cpu nor gpu computational power involved? Does this IDENA have a announcement in here? Thank you!

can you share with us any profitable staking tokens you know. I have tried the ones i have but they were not valueable and i think i need to quite staking. it is not profitable for me. i have tried staking TRON, BTMX, ONE and ERD with the little amount  that i have. the reward was not meaningful.

Mining is far better than staking, in fact I wouldn't recommend staking to anyone, it's just way too risky. Altcoins are very volatility, you can invest in coin to stake it and it will crash later and you'll be in a big loss. There's no safe altcoin to stake, in fact most of alts with staking are just shitcoins. With mining, especially if it's CPU or GPU mining, you can always sell your used hardware if things go bad, and there's a wide variety of coin you can mine - if one goes down, you just switch to mining another.

Mining is far better than staking, in fact I wouldn't recommend staking to anyone, it's just way too risky. Altcoins are very volatility, you can invest in coin to stake it and it will crash later and you'll be in a big loss.

Agree with you! but if anyone can't afford mining components then I think staking is good. Because I do it myself and nothing bad has happened yet