Why should someone dump a coin that could be like a money printing machine through the stake interest?
1000 Cloak earn 5 Cloak / month, at a price of 50$ that's 250 $, at a price of 100$ thats's 500$
6000 CLOAK earn about 1 Cloak / day, do the math ...
And that at hardly any costs, you do not need to keep your laptop or computer running 24/7 to get those rewards! Staking weekly or monthly is enough.
Don't you have to leave you wallet 24/7 in order to stake?
I always keep it opened to stake it. You can open it ones a month and get you staking reward? Strange, never heard of it.
No there is no need to keep it open 24/7. Keeping it open 24/7 the wallet will produce many tiny fractions, you help stabilizing the network, 24/7. But you can also send all your coins to one address in your wallet, then switch it off and sync after 1 wekk, 1 month, what ever timeframe you choose. Wait until your coins staked! You will still earn 6% on your amount per year.
If you've got 1000 Cloak in your wallet open 24/7 you will earn about 5 Cloak in many tiny fractions, if you stake 1000 Cloak (sent as 1 amount to an address) after 4 weeks, you'll get about 5 Cloak at once.
Mature time for CLOAK is 3h, there is no maximum age for the coins!
Ah, thanks a lot, I didn't know that.
I was keeping CLOAK wallet up and running 24/7. Will close it for a couple of weeks to test.
It consumes around 1,5GB-2GB of RAM, so that's a great benefit.
