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Author Topic: How Mine POS ?  (Read 1721 times)
Xenon05
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June 19, 2018, 06:19:11 AM
 #21

There are allot of PoS coins that are trash and/or long abandoned. Of course the same thing can be said for many PoW coins.  In all cases, put the time and effort in to research the coin thoroughly before getting involved, whether that be mining or staking.

your right, many POS coins are available but many are scam. some coin have a good percentage of staking, just  invest wisely.
madlen2018
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June 19, 2018, 07:01:15 AM
 #22

As far as I know.POS mining is possible in the presence of coins on the wallet.With a certain amount of a coin on the appropriate wallet for a certain period of time you get a percentage of the coin.Skipped the terms of such mining for coins and wallet should be the part constantly.
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June 19, 2018, 07:10:59 AM
 #23

There are allot of PoS coins that are trash and/or long abandoned. Of course the same thing can be said for many PoW coins.  In all cases, put the time and effort in to research the coin thoroughly before getting involved, whether that be mining or staking.

your right, many POS coins are available but many are scam. some coin have a good percentage of staking, just  invest wisely.

I highly doubt your statement, most if not ALL coins with "good percentage of staking" are scams.

The problem with those high reward coins is that they are like real world High Yield Investment Programs (HYIP) which promise huge rewards but at huge risks as well. If you invest in coins like these then you are almost guaranteeing that you will lose your investment value. Caveat!

 
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June 19, 2018, 07:17:37 AM
 #24

simply put, it has to make sense. for mining, only the few collect, and many times the minted coin rate is predefined per block and blocks have a slow rate per day. Since only those with equipment mine, this limits those who actually get new coins

for POS, everyone can stake. In order to prevent hyper inflation (too many coins minted per day), you HAVE to have a low stake rate. Anything high will instantly lend to hyperinflation and making the coin worthless over time.

The better the rate, the more people stake. Since staking is like interest, you start to have compound interest and the minted coins per day rate gets insane.
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June 20, 2018, 07:04:12 PM
 #25

simply put, it has to make sense. for mining, only the few collect, and many times the minted coin rate is predefined per block and blocks have a slow rate per day. Since only those with equipment mine, this limits those who actually get new coins

for POS, everyone can stake. In order to prevent hyper inflation (too many coins minted per day), you HAVE to have a low stake rate. Anything high will instantly lend to hyperinflation and making the coin worthless over time.

The better the rate, the more people stake. Since staking is like interest, you start to have compound interest and the minted coins per day rate gets insane.

Agree. PoS entry level is greater than PoW itself. Anyone can become a staker with the required amount of coins to stake, in contrast to PoW which requires costly equipment and daily maintenance. Minting coins with PoS is energy efficient and allows an average Joe to participate in maintaining the security of the cryptocurrency's network. While coins with high interest rates are most likely to experience devaluation and hyperinflation over time, they'll experience a higher level of demand than most PoW coins out there.

Of course, if you're looking into a PoS coin which retains its value over time, then you would need to seek a coin that has low stake rates. Coins like Peercoin, Blackcoin, and Emercoin have low stake rates, allowing them to maintain their value over time. As a suggestion, if you want to increase your chances of earning stakes on your coin balances, then you should use the Coin Control feature available in most PoS coins for optimum results. I believe that the future of mining lies on PoS, leaving PoW in the dust. Just my opinion Smiley

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