Wyre08 (OP)
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Activity: 84
Merit: 10
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October 15, 2017, 01:27:20 AM |
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What are the risks of staking? I guess I don't fully understand the risks of leaving the wallet unlocked. I'm sure there have been threads about this, but this is all I found in my search. https://bitcointalk.org/index.php?topic=1950353.0 |
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twobits
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October 15, 2017, 02:11:26 AM |
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I don't know what you say but it seems there will be no risk to stake your own shares, the possible thing about to lost your password to open your wallet or your wallet got hacked by someone and he or she was able to stole your amount. |
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CoinCollector006
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October 15, 2017, 02:13:31 AM |
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There are several risks to consider 1) Risk that the value of your collateral goes down do to adverse market movements, recently when BTC rallied over 90% of alt coins have declined in value. 2) Risk of loss due to theft of your crypto currency balance by hackers or malware or operational error such a losing a password. Always encrypt your wallet with a strong unique password with at least 12-15 letters and symbols 3) Risk that the blockchain you are staking fails to grow or fails to acquire business use cases 4) Risk that the amount of capital you invest is too small to yield any staking returns |
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Tipstar
Sr. Member
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Activity: 1764
Merit: 280
Smart World Global Token
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October 15, 2017, 02:17:22 AM |
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I don't find any staking only risk. There are risk of loss due to fluctuation in price, theft of coin from some scamware you mistakenly downloaded or one came with a legit software, but they are same for just wallet users and altcoin traders. |
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CoinEmperor
Newbie
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Activity: 28
Merit: 0
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October 15, 2017, 02:27:24 AM |
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No risk in staking WAVES coins as you are just "Leasing" it, they have a system called LPoS which gets rid of risk. For general PoS staking though you can lose all your staked coins if the group you are staking it with decides to change nodes or if you do not follow the correct node.
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Wyre08 (OP)
Member
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Activity: 84
Merit: 10
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October 15, 2017, 02:36:06 AM |
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Thanks for the replies everyone. I don't have any personal money in something staking (all my personal money I've invested is being held in paper wallets), but I got the airdrop for bitcoinstake and litecoinstake and wanted to be sure I understood the risks.
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CoinEmperor
Newbie
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Activity: 28
Merit: 0
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October 15, 2017, 02:38:28 AM |
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Thanks for the replies everyone. I don't have any personal money in something staking (all my personal money I've invested is being held in paper wallets), but I got the airdrop for bitcoinstake and litecoinstake and wanted to be sure I understood the risks.
If you got an airdrop in something that has 0 risk... you get coins for free for no reason and you think there is a risk? The only risk maybe is giving them your email address and you can get spammed, otherwise you get free airdropped coins (which are worthless as there are 100s of airdrops every day). |
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HashFace
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October 15, 2017, 02:50:42 AM |
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With the wallet I stake with, which is the Deep Onion wallet, you can check "unlock for staking only" when you enter your password. I'd hope other wallets have that feature, which prevents sends from initiated while it is unlocked. That, at least, reduces the risk that someone with access to your computer could directly steal your holdings.
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Airelves09
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October 15, 2017, 03:19:21 AM |
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I think the biggest risk is a private leak of your wallet. There's a lot of junk mail harassing you. See if you're interested in those free tokens.
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happyme1818
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October 15, 2017, 03:47:59 AM |
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The risk depends on how you accumulate your coins. If it came from airdrops. There is no risk at all. If you buy it on exchange or ICO that will already involve risk. Risk that the value may collapse, you are not vigilant and you got hacked or the value of your coin is not enough to compensate with your electric expenses. |
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PokerDiceMan
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October 15, 2017, 03:58:05 AM |
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is stake use self pc or laptop without problem is very safe if use VPS you must find vps seller is very trusted |
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swoolzze
Member
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Activity: 69
Merit: 10
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October 16, 2017, 01:04:37 AM |
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There are lots of risks for staking, you must need to know first that it was legit. Don't ever go to the website that was moderating by scammers there were bunch of it. Avoid to go in that website that was made by scammers for example like wallet sites that they copied most of it. Don't go in that sites. |
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hua_hui
Legendary
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Activity: 1386
Merit: 1016
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October 16, 2017, 03:06:35 AM |
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There is risk in staking and that is also why ethereum is not rushing to change of their proof of work to proof of stake. There has been many cases whereby staking with huge returns can make the market go way down. Just look at the top few staking coin and look at their chart, the price will just keep going down faster than you can stake. One good example is buzzcoin.
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Prodigan786
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October 16, 2017, 04:18:47 AM |
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There are several risks to consider 1) Risk that the value of your collateral goes down do to adverse market movements, recently when BTC rallied over 90% of alt coins have declined in value. 2) Risk of loss due to theft of your crypto currency balance by hackers or malware or operational error such a losing a password. Always encrypt your wallet with a strong unique password with at least 12-15 letters and symbols 3) Risk that the blockchain you are staking fails to grow or fails to acquire business use cases 4) Risk that the amount of capital you invest is too small to yield any staking returns I experienced point number one and three i have around 20+ different coins and tokens In my portfolio some of them seems high potential where I dint want to sale for year even that coins are also declined recent Butcoin raise. Some of my investment reduced more than 70% because Dev not meet the expectation of use cases. |
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btc78
Full Member
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Activity: 2492
Merit: 212
Eloncoin.org - Mars, here we come!
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October 16, 2017, 05:09:55 AM |
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There are several risks to consider 1) Risk that the value of your collateral goes down do to adverse market movements, recently when BTC rallied over 90% of alt coins have declined in value. 2) Risk of loss due to theft of your crypto currency balance by hackers or malware or operational error such a losing a password. Always encrypt your wallet with a strong unique password with at least 12-15 letters and symbols 3) Risk that the blockchain you are staking fails to grow or fails to acquire business use cases 4) Risk that the amount of capital you invest is too small to yield any staking returns what a reliable explanation,thats what we need commenting on all the post,those kind of detailed answer coming from a person specializes blockchain .can i ask something too?where those hackers gwtting access to our account?and what kind or prevention may we have?i appreciate if you can help me understand such question.,thank you |
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bucksman5233
Full Member
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Activity: 264
Merit: 100
TV TWO - Connect your TV to ETH Blockchain
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October 16, 2017, 05:15:44 AM |
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There are no risks in staking standard coins however if you stake coins which gives you some crazy returns like 7200% like are more definately a scam and it will definately burn you. You'll either lose in the coin's value or you may never get your stakes for your hard work. So, it's simple don't stake in any coins which promises to give you crazy returns.
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