Could I live off staking proof-of-stake coins?

[Puberty]

If I installed the wallets of 50 different proof-of-stake coins on my computer and each wallet earned me $1 a day, I would be making $50 per day or $350 a week. This would be more than enough for me to live on. Does anyone know if something like this is possible? Are there any real-world examples of people who live off securing the networks and processing the transactions of PoS blockchains?

[cassius69]

you would be better off with a job tbh 

[jertsy]

It would only work if your POS coin's price was stable or rising. Most POS coin's prices have crashed heavily this year and any extra coins from staking do not make up the initial purchase cost shortfall.

[jwinterm]

Are there any real-world examples of people who live off securing the networks and processing the transactions of PoS blockchains?

Maybe the guy(s) that run just dice staking mega clams, or cryptsy owners staking other people's coins. Probably not if you're just an individual staking your own personal stash tho.

[unusualfacts30]

depends on how many coins you're staking. If you have 100k you can easily make 30 BTC/month off trading.

[General_A]

depends on how many coins you're staking. If you have 100k you can easily make 30 BTC/month off trading.

Would you really want to bet the 100k capital in proof-of-stake coins though  ?

[sdmathis]

It would only work if your POS coin's price was stable or rising. Most POS coin's prices have crashed heavily this year and any extra coins from staking do not make up the initial purchase cost shortfall.

I agree. Even during the height of the Altcoin bubble, most alts peaked in price, and then went into a downward spiral in price. Then comes the problem of finding 50 quality, POS coins.

POS is an interesting concept that may keep the blockchain stable (it's too early to tell right now), but it (staking) won't make anybody rich.

[iGotSpots]

Yes you can

Are there any real-world examples of people who live off securing the networks and processing the transactions of PoS blockchains?

Maybe the guy(s) that run just dice staking mega clams, or cryptsy owners staking other people's coins. Probably not if you're just an individual staking your own personal stash tho.

Cryptsy has always staked your balances on top of fees. Double dip

[tokyoghetto]

Its been going slow for me. The price drop in alts has diminished my returns.

You need a way to have high-inflation, with a mechanism to control inflation through Demurrage.

[jertsy]

Yes you can

Are there any real-world examples of people who live off securing the networks and processing the transactions of PoS blockchains?

Maybe the guy(s) that run just dice staking mega clams, or cryptsy owners staking other people's coins. Probably not if you're just an individual staking your own personal stash tho.

Cryptsy has always staked your balances on top of fees. Double dip

This has been discussed here before.

There was a discussion about Cryptsy staking POS coins in this thread

https://bitcointalk.org/index.php?topic=827629.20

Cryptsy's response was in this post.

https://bitcointalk.org/index.php?topic=827629.msg9248083#msg9248083

[kekek]

Don't forget you'll have to use that money to pay for the cost of keeping a computer on and online 24/7

[alamazean]

Very few cryptocurrencies are long term bets. Certainly less than 50.

[Zombier0]

U wont find enough PoS courrencys  that are not scams

[fran2k]

Bitshares could provide you an stake, and also Ethereum in the future.

The question is, have you enough capital to invest in so you make enough return to live on?

[General_A]

Bitshares could provide you an stake, and also Ethereum in the future.

The question is, have you enough capital to invest in so you make enough return to live on?

And would you be willing to bet that capital in new currencies....

[The Chainmaker]

if you installed 50 altcoin wallets filled with 50 kinds of altcoins, in 6 months you would be holding 48 bags

[General_A]

if you installed 50 altcoin wallets filled with 50 kinds of altcoins, in 6 months you would be holding 48 bags

48 if you're lucky.....