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Author Topic: Staking Coins (POS)  (Read 2243 times)
MadMac
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September 17, 2017, 09:14:43 AM
 #1

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.
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Coinzzz
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September 17, 2017, 09:28:39 AM
 #2

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?

MadMac
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September 17, 2017, 09:40:44 AM
 #3

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.
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September 17, 2017, 11:12:29 AM
 #4

Oh just like NEO? Although neo generates gas but it doesn't need to be open 24/7...
MadMac
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September 17, 2017, 11:16:21 AM
 #5

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.
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September 17, 2017, 12:23:45 PM
 #6

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.
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.

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fishfishfish313
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September 17, 2017, 12:31:14 PM
 #7

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.   Grin

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September 17, 2017, 01:24:16 PM
 #8

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.
jyotianand01
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September 17, 2017, 01:27:49 PM
 #9

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?



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.

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CoinCollector006
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September 17, 2017, 03:52:46 PM
 #10

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

Coinzzz
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September 17, 2017, 05:45:32 PM
 #11

Thanks guys, got it now Smiley

So I have too keep the wallet open right? 24/7
MadMac
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September 17, 2017, 06:14:06 PM
 #12

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.
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September 17, 2017, 10:30:07 PM
 #13

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-

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KripCoin
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September 17, 2017, 11:17:19 PM
 #14

Hi all what are these coins?
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September 18, 2017, 04:51:38 AM
 #15

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")

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Anita1873
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September 18, 2017, 04:55:35 AM
 #16

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 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.

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September 18, 2017, 06:45:13 AM
 #17

Hi all what are these coins?

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.

MadMac
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September 18, 2017, 07:13:20 AM
 #18

I strongly advice against trying to get any serious "profits" from Proof of Stake forging/minting.
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.
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October 01, 2017, 10:53:54 PM
 #19

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.

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October 01, 2017, 11:11:45 PM
 #20

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

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