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  • Crypto Currency - Believers Only

Hursty I get that part, mate, but I’m still in the dark about “staking” and whats #pluto?

      LT42 Staking is similar to depositing into a savings account and earning interest, but in this case you stake the coins and earn a yield from it. There are numerous smart contracts where you can stake coins, exchanges such as binance also allow staking. One thing to remember is that the yield is variable so can go up and down and is not fixed. Typically some coins offer yields of 100%+ but as more people enter the staking contract the yield reduces.

        LT42 Did mention pluto? That may be my stake pool lol.

        Staking is how Proof of Stake consensus protocol works, unlike Proof of Work which Bitcoin/Ethereum uses.

        Instead of trying to solve cryptographic puzzles to be selected to add the next block to the chain, slots are assigned based on the amount of stake a node has…a lottery in effect. Every few days the lottery is carried out and then those nodes are allocated a slot (point in time) to add the next block with all the transactions which have just occured.

        That is it in a nutshell….worth reading more into…or checking out my pluto website?! ;-)

        • LT42 replied to this.

            Hursty Link to the site, mate?

            And just like Columbo, I’ve just one more question….I can’t settle on a wallet to use. Was looking at Klever and a few others, any recommendations?

                LT42 www.plutostakepool.com

                Wallet suggestions are on there, Yoroi is the easiest to use

                • LT42 replied to this.

                    Hursty Went with Exodus for now. I’ll check out the site later, mate. 👍

                      To the MOOOOON

                      I’m loving all the dorky bastards shouting this shit

                        LT42 Quite amusing on Reddit. Mad bastards trading on margin, loading up on debt. We know what’s coming.

                            It’s fairly cultish from what I’ve seen, fellas ripping each other apart for joining the other side etc.

                            Once I’m approved on the app I’ll go mental and spend half my earnings I reckon, much better than being on Paddy Power imo. I have the mrs driven mad getting her to buy and sell on her profile. She thinks I’ve lost the plot, maybe I have.

                            benson what could possibly go wrong?

                            In a leveraged speculation play where the underlying asset is garbage!

                              They got me didn’t they? SELL goddammit.

                              Crypto destined for a bad couple of weeks, hedges likely will liquidate their positions.

                              AMC & GME causing them serious pain right now.

                              Or should that be - GET IN NOW WHILE YOU CAN LADS!