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Author Topic: staking is a type of mining?  (Read 201 times)
cafucafucafu
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January 07, 2022, 11:22:55 PM
 #21

a crypto being on a stake it means that this crypto is mining others?

In a sense, yes.

You are securing the network by contributing to transaction validation, and the consensus mechanism is based off people showing that they have an active stake in the network as opposed to they are expending significant energy.

So it's really the same concept but in a different form. Staking is NOT yield farming or interest generation per se, which is what some people seem to be confused about.

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January 07, 2022, 11:50:32 PM
 #22

a crypto being on a stake it means that this crypto is mining others?
It's more or less like that, but I can't be sure of that because when a coin is staked the party receiving the coin can also make trades on it to reach the desired target, even though the payout is also in the same coin, so it can't always be mined

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January 08, 2022, 01:50:24 AM
 #23

holding back is just a wasted time and it's all done by people who don't have a soul of patience.
because the main key in crypto must be able to see price movements in the market and will not let go if there is still no expected target..

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January 08, 2022, 02:23:12 AM
 #24

holding back is just a wasted time and it's all done by people who don't have a soul of patience.
because the main key in crypto must be able to see price movements in the market and will not let go if there is still no expected target..
Not forever holding it can be a waste of time, because at this time almost everyone holds on to the assets they already have for very good targets because if they are released at this time, they will only have regrets and the target will never be achieved at all.

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January 08, 2022, 01:28:31 PM
 #25

a crypto being on a stake it means that this crypto is mining others?

Stake for mining is a system in Proof of Stake Consensus, staking in the chain or not in the chain (for example on a centralized exchange like Binance) both provide benefits in the form of additional value from the coin/token you stake. But if we talk about staking to mine, we should talk about Proof of Stake.

R


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timerland
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January 08, 2022, 07:54:42 PM
 #26

a crypto being on a stake it means that this crypto is mining others?

Not really mining in the traditional sense, but definitely also contributes to the consensus mechanism of the network.

Staking is essentially you showing the network that you have put money into the ecosystem and therefore you shouldn't be a bad actor given that if you destroy the network through an attack, you lose a lot of money yourself as well.

Don't get it confused with PoW mining though.

Smiley
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January 08, 2022, 09:27:19 PM
 #27

I stopped mining about 5 years ago as It's not really profitable in Australia as the cost of electricity is really high.

I personally have decided to only stake coins that don't have an unbonding time frame such as ADA and Tezos (XTZ).

Some projects such as ATOM, ICP and CRO have a minimum staking period or require 21 days to undelegate which potentially means missing out on profits from price swings on daily and weekly timeframes.

An example is ATOM/Cosmos, I could have made a decent profit or increased my holdings through trading if I'd traded rather than simply staked them

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January 09, 2022, 03:01:08 AM
 #28

As far as I know, Crypto and mining is a unity that always coexists. the two sides are interrelated, however, Crypto is easier to obtain, not the same as mining which must require large enough tools and capital, in my personal opinion
Mining is the same as collecting and everyone who tries to collect several cryptocurrencies both by trading, Staking, and also mining with special tools, it's actually almost the same even though the income is different with different deadlines, but conceptually it's almost the same as mate.

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