cabron
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August 25, 2020, 05:05:24 PM |
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I have been staking 3 tokens so far which I earn only a few coins but its going to be consolidated. It's still going to be compared to mining since you need investment in staking which the cost is almost the same too. Of course, if you want to earn more, you have to invest more in collateral. What I do is that the profit I get is what I also buy for the tokens to stake increasing the amount to earn in the future.
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sujonali1819
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August 25, 2020, 06:13:33 PM |
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Though I am not a cryptocurrency miner, but what I learn from this forum that nowadays mining is not as profitable as before. So maybe you will not much profit at the end of the mining. But it's sure maybe you will not lose after calculation. ( But don't fall into cloud mining shady things. maybe it shows you much profitable but in the end, you will not get anything.)
Personally I don't think staking is much profitable. But when you hold a coins and if the coin's has any staking feature then you should take the advantage. Just like (Something is better the Nothing). But don't fall into some Ponzi scheme trap. maybe they promise you a good ROI of about 1-5% per day. but at the end, you will earn 0 exactly.
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jrrsparkles
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August 25, 2020, 06:46:01 PM |
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
You are locking the amount for particular time if you wanted to receive the rewards it will make the demand of that token or coin to increase if people get interested on that project so it is win situation for the team but it is likely less chance for this to happen.So don't look for passive income when it comes to crypto market, just hold and sell when the price is getting peak.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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pixie85
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August 25, 2020, 06:59:16 PM Last edit: August 26, 2020, 10:30:38 PM by pixie85 |
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The concept of passive income is popular because all of us would like to have something from nothing. Just put some money in the bank and live from profits but it's not that easy!
To take profit you need to own something that other people want. A stakable coin is so volatile that you can buy it one day and start staking and a month later it will lose value and you will lose your staking income and your investment.
At this point it's still too risky. If a big coin like BTC or ETH switched to PoS it could work but shitcoins with PoS will be shitcoins that produce promises instead of income.
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adzino
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August 25, 2020, 07:14:13 PM |
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
If you are saying staking (talking about pos over here) and crypto lending are scams, then you are wrong. There are scam services, but those activities itself isn't scam. Like you can do p2p lending and take interest from your borrower. Trust is a factor over here. But then, there are services that say that you will lend them money and then they will give a "too good to be true" interest rate. Those offer usually comes without any collateral and you will highly likely get scammed. For staking, you should probably google about stake scam. You will find some neat articles explaining everything.
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IvugeoEvolutionCoin
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August 25, 2020, 08:04:24 PM |
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I don't think there is anything wrong with crypto passive income obtained from staking, yield farming, lending etc. Mining is cool but personally I prefer staking and masternode, since there is no need for energy. I'm not against POW algorithm, but I prefer POS. New advancements come with time, we should embrace them rather than entirely castigate. I do however like the solid points given by OP, it's very educative, thanks.
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enhu
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August 25, 2020, 08:13:59 PM |
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I don't think there is anything wrong with crypto passive income obtained from staking, yield farming, lending etc. Mining is cool but personally I prefer staking and masternode, since there is no need for energy. I'm not against POW algorithm, but I prefer POS. New advancements come with time, we should embrace them rather than entirely castigate. I do however like the solid points given by OP, it's very educative, thanks.
Many of us will also embrace the ETH POS once its finalized by the team. Because ETH is a utility token and is very much needed for each transactions made I guess it will still be profitable to stake ETH. Staking will only be good if the project will have a real usecase for the community and to its blockchain. If you planing to stake a coin, you better pick the right one or you'd just spend time staking without profit. Exchange tokens I think are worth.
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bttmember
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AMEPAY
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August 25, 2020, 09:00:57 PM |
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
As far the basic economic formula, if you are getting the same token or coin as staking reward every week or month then the price of that coin is bound to fall because the coins will always be listed for sell and there would be more sellers than buyers or more supply than demand resulting in decrease in value. Only high volume, high transaction, highly used, high revenue generating coins like ethereum or btc can negate this effect because they are actually doing business and generating revenue everyday. For other coins this model do not seem sustainable.
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jpnl0006
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August 25, 2020, 09:34:00 PM |
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Crypto passive income has gone beyond been called just passive income. People has sacked their bosses and are living more than an average lifestyle because of crypto as a passive in come.
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Kelvinid
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win lambo...
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August 25, 2020, 10:05:45 PM |
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
It is all about finding where we become comfortable, some did it feel good staying in here but some didn't that is why they leave crypto space. And this is a reason also why not all of us seeing it crypto investment potential but just keep ignoring it. We could say that it is not a good idea considering crypto as a passive source of income, indeed it was right but we can deny also that some did it. Some spend the whole time in crypto, fully committed in trading, and risking their money buying expensive and powerful equipment for mining. They saw that there is a huge chance that they can make a profit from here and they've been tested many times that it brought them to decide and live crypto for the whole life.
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livingfree
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August 25, 2020, 11:12:59 PM |
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Huge holding is what you have to sacrifice. It's a requirement for you to earn a better amount.
Holding it to a required or eligible wallet for you to be one of them. If you can't bear with POW, POS is the way but you need to choose an altcoin that's reliable. Not all coins that says they are POS are good to invest and stake with.
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pikkie
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August 25, 2020, 11:45:01 PM |
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lol I heard Buble's words from a few years ago when the price of bitcoin was first expensive and it could touch $20k, many say bitcoin buble, now your problem is that you want to get passive income from cryptocurrency for now, one of which is by opening an account at Binance after that you hold a very large amount of BNB coins, you can get a share of coins that you can exchange and become money.
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Hemady17
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August 25, 2020, 11:56:13 PM |
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
Once you have been profited in your passive income, try to pull out gradually your capital. Save or either reinvest it to another such as business. Many people are saying that crypto is a bubble when they got rekt. Therefore, in order not to regret. Withdraw your funds when you think you should want to save it. So that, you will not blame the market when there is something to happen in your assets. Crypto is not a bubble, it makes a person millionaire.
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Emitdama
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August 26, 2020, 06:07:24 AM |
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
So do you think that all these things you have mentioned makes Bitcoin mining valuable or better than lending, staking, etc.? When it comes to lending you’re giving your hard earned money to someone and at the end you get interest on top, so why isn’t it valuable? There is no means of income that is not valuable, they are all good as long as it’s legit. Staking is like investment, and when it comes to investment you’re putting your money into the hands of other people and they use that money to invest in other Businesses that will generate more income for them to pay you back, and also pay with interest. Just choose whatever you think works for you, it’s not a must that you will do what others do, and by the way I wouldn’t recommend mining this time around if you’re not ready to invest more into it, and if you’re living in a place where electricity is costly mining might not be a good option.
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ufaiz50
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August 26, 2020, 06:12:02 AM |
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In the manufacture of the rig itself, calculating the cost of income and expenses is important plus time, even though I am currently selling the rig because of profit problems. From some of my friends and myself who get passive income by staking, which is said to be sacrificing it doesn't seem like it is because it's based on an interest in getting passive income in staking. To be sure, sometimes we also waste time where it doesn't match the time spent and in my opinion crypto bubble, I think a little bit right.
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Bitstar_coin
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August 26, 2020, 06:39:26 AM |
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You actually sacrifice your assets to earn extra coins and during this period of staking maybe the value of your stake coins have increase but because you commit them to the network of the project which means you are on able to sell, this is a sacrifice as well, although may not be compare to that of mining because you have to spend a good amount of money to be able to mine.
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Squezzi55
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August 26, 2020, 06:41:40 AM |
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Currently, the crypto ecosystem is not ideal for the concept of passive income. Many projects with the theme of passive income fail because the coins they get from staking will always be sold, which causes a constant drop in prices.
I believe this passive income of a thing is best suited to projects that have more demand (use case) in crypto space, many proof of stake coins have bad use cases and they are less demanding that's why they have less value overtime.
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Squezzi55
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August 26, 2020, 06:43:33 AM |
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Anybody looking for passive income in crypto might end up falling for this investment scam that claim paying using crypto. Crypto staking might be profitable but it also boil down to the price of the coin you stake on at the end. Staking on MB8 coin has thought me a great lesson. It is always good to make a hay when the sunshine
Crypto staking rewards aren't always that big, only the rich or whales make good gains from them because they pay annually with very low ROI like 5% or 10%, how could this drag a project down? POS feature should be better than mining Algorithm because mining gives more profits than staking
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Squezzi55
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August 26, 2020, 06:47:53 AM |
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The concept of passive income is popular becaue all of us would like to have something from nothing. Just put some money in the bank and live from profits but it's not that easy!
To take profit you need to own something that other people want. A stakable coin is so volatile that you can buy it one day and start staking and a month later it will lose value and you will lose your staking income and your investment.
At this point it's still too risky. If a big coin like BTC or ETH switched to PoS it could work but shitcoins with PoS will be shitcoins that produce promises instead of income.
Exactly ! You are right mate, many projects that did launchpad on Binance exchange are the type of projects that one can rely on, they offer more than just the POS ability, they have good utilities and high volumes too, e.g Cosmos, Harmony and few others, it's investors choice, there are many bad POS coins presently and choosing one shouldn't be because of their ROI
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Eco_111
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August 26, 2020, 07:14:12 AM |
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Proof of Stake coins are better than mining coins presently, they are easier and better, no problem or worries with electricity and rigs, why it makes more sense is because of low returns, for example you will only make 300$ to 450$ if you invest 3000$ on a POS coin that overs 12% to 15% ROI Annually, this is different from Too good to be true investment plans
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