/biz/ - Business & Finance

>>11005272
ill wait until it is $40

What will you get in return?

>>11005272
>When you hold a given amount of coins in your wallet for staking, your computer qualifies to be a node. For a node to be chosen as one of the stakers, they need to have deposited a certain amount of coins in a bound wallet.
That amount of coins is 32. Basically you will be able to be randomly rewarded newly mined ETH if you have a wallet with 32 ETH in it.
In other words, it's a passive income stream.

>>11005296

dude stfu, you aren't supposed to these tards about that

>>11005287
ill wait until it is $39

>>11005272
If you believe proof of stake can work you are a brainlet. Yes that includes vitalik

the only problem is that PoS won't be out for so many years that a completely new platform can literally take its place. that's why I'm invested in Holochain

>>11005328
it do be working already tho?

>>11005315
kek

>>11005332
>the only problem is that PoS won't be out for so many years
source? also why not both? The entire point of this thread is that it is about to become extremely cheap to own 32 ETH.

Why not be mostly in, say, Holochain but take a measly $3,000 out and buy 32 ETH when it goes under $100?

Why not both? It's about to become extremely affordable to do both, so why not both?

If i was rich I'd consider this
but the returns are crazy low vs shitcoin investing

>>11005352
Just Google the ethereum dev notes for Shasper. Sharding and PoS with Casper release are officially set for a late 2019-2021 release MINIMUM.

https://www.mangoresearch.co/ethereum-roadmap-update/

>>11005486
that is hugely disappointing

>>11005272

Who cares? 2 years to receive a 5% pa return, maybe. After it drops further. Look, they took too long. Should have hired more devs, rewrote it in Rust, and had a clear set of milestones to hit, each one prioritised to solve a problem. There should be an official Sidechain system (like Loom but open source) by now. Should have a data pruning system in place by now. There should be a mixed model PoS/PoW hybrid by now. There should be a working fucking wallet & official client by now. They had all the momentum and like Btc they've screwed the pooch - except unlike Btc they don't have the ability to survive on the name alone. We're gonna look back on Ethereum as the AOL of the Web 3.0 era.

>>11005486

Thanks, I'd lost the link to to that.

>>11005272
top kek $6100 on a shitcoin that is in freefall and you get "randomly rewarded" thats wonderful what if eth crumbles all the way to $15 awesome you spent $6100 on it and are now getting RANDOMLY REWARDED 1 ETH WHICH IS WORTH $15

BEST INVESTMENT EVER

>>11005352
I've done that. As soon as it became official that the old roadmap was scrapped I dumped my Eth into Holochain (no regrets haha, up x8 already!). I don't think we'll need to buy back - Cardano, Ziliqa and other EVM compatible platforms will by out by the time Ethereum gets it's shit together anyway. Better off using one of those if you need a smart contract platform (Holochain is more for dapps).

It's over idiots crypto is going to ZERO

>>11005678
>what if eth crumbles all the way to $15
that's when you buy, dumbass. if it drops below $100 the risk/reward starts to balance.
Dipshit.

>>11005328
>t. Bitmain shill

Except it is already working on other chains. Fucking Bitbeans (lol) have a working PoS. So no, PoS is fine - Vitalik is just a fucking brainlet who spent too long fucking around to organise things properly. Part of the reason for this dump is punishment by Jihan Wu for Vitalik opposing the mining cartel. Vitalik was stupid though - he should have kept his mouth shut & just hurried the fuck up with getting PoS out to head this off.

>>11005701
it's going to zero again, pack it up guys, this guy is right. Nothing good can ever come from a universal turing complete fog compute cluster that solves for identity.

>>11005296
POS is a meme

Returns will be shit

>>11005736
I remember when LTC wicked to $0.01 on GDAX a few months before it was released on Coinbase proper.

>>11005731
bitbeans hardly have the same network to consider though

>>11005736
Fuck, I mean, it can go much lower. I remember back in like Feb that one other Russian sounding dev "Zlav" or some shit, tweeted that the ETH pump to $20 was premature and the tech wasn't ready for it to be at that price, Kek.

I feel like we are literally going back in time. ETH is sub $200, someone was shilling Bitbay... Except this time, we have no hope for PoS, sharding, dapps, or Casper. What will support the price? Where is the new money going to come from in this situation. Ico's are done, we know the pump was caused by ICO craze. We don't have that now. This thing has a lot of room to drop.

>>11005833
Meant Feb 2017. Also, check my digits, please.

lol how much is someone gonna make staking 32 eth? like 50 cents a week

>>11005328
>Vitalik is a brainlet
Thatnks professor

>>11005486
zomg. An entire year to implement a totally new backbone onto a PRODUCTION billion-dollar payment network?
What an outrage.

>>11006038
i know its crazy! all that time wasted for a network that will never be used.

>>11005272
It's also insanely cheap to own a turd, it doesn't mean I want to do it

>>11006094
Slap yourself

>>11006143
oh forgot about ethermon and ponzi3d

>>11006158
And etheremon is moving to Zilliqa because ETH can't scale kek

>>11005833
Checked. And I also feel we are going backwards but I'm ok with it as this time I have money to buy.

>>11005731
>Fucking Bitbeans (lol) have a working PoS
they don't have any whitepaper describing it. It's probably some bs based on whitelisted central nodes

>>11005731
I looked at bitbean code and from what I can tell, it's not actually PoS. 'Staking' beans allows you to lower your mining difficulty, but you still have to mine

>>11005272
kek eth trying to be vechain

>>11005332
street shartding intensifies

>>11006675
kek

>>11006038
They keep on failing to meet their deadlines and promises. Hence, price dump.

>>11006653
Honestly why doesn't Vitalik just do this? That sounds perfectly fine to me.

>>11006718
because it's not fine

>>11006666
>>11006666
>>11006666
>>11006666
thanks sunny for the quads. vechain 66.66 eoy

>>11006727
What's wrong with it? The code could be written so that the difficulty is effectively zero for any decent balance of ETH. That's far more elegant than the current Rube Goldberg-esque shitheap that they're working on now.

>>11006744
>the difficulty is effectively zero for any decent balance of ETH
ok, so I generate X blocks using my eth, then sell them, then rewrite the chain using my eth in the past. There are now two chains and both appear as valid. What now?

>>11006771
That's no different than a regular PoW 51% attack, which blockchains already can't handle.

>>11006813
51% pow attack requires access to enough hash power, and costs energy to run the machines and (if asics) makes the asics worthless.

>>11006837
But at the end of the day it's all about having the money to pay for electricity and ASICs in the first place, which is why PoS cuts out the middle man by just staking the money directly.

>>11006871
Security relies on cost of attack. PoS must require attackers to lose the value of their stake, otherwise it's not safe.

>>11006879
The cost is being able to amass billions of dollars of ETH in the first place. The more you buy, the higher you are going to drive the price, making it effectively impossible to achieve a majority stake. Vitalik is overengineering ETH and it's turning into the SystemD of crypto.

>>11005272
So 2.63130837e35 Ether?

>>11005322

Mmm $39’s a bit too high, I’ll wait till $38

>>11006956

Vitalik said the interest rate will be like 1 ~ 2%...

>>11006937
You don't need majority stake, you only need enough to attack the system in the short run. You could try to buy old keys for empty accounts.

That's why PoS deposits have to be locked for some time after and before generating blocks.

>>11006965
>literally less than USD inflation

>>11006962
boi I got you at $37

>>11006982
that's in eth

>>11006714
The price is dumping because the last ath was total manipulation across the board.
Get over it.

>>11006975
I call bullshit. If it were really that big of a deal then we would have seen a lot of the smaller PoS shitcoins getting attacked since it's considerably easier to launch attacks on small market cap coins. But we didn't.

>>11007133
because there are no PoS coins except one. Most are DPoS, delegated proof of stake. The name is similar but it just means that holders vote for nodes. That's not PoS.

The only PoS coin is NXT. It didn't get attacked because the founder owned (owns?) 80% of all coins which he bought from himself during the ico, giving him full power.
The total ICO was for 21 bitcoins.

shit poop

>>11005333
Underrated

>>11005272
I will be able to buy 32 ETH in 2-3 months for the price of 2.5 ETH today.

Bch is the real crypto

>>11007152
Why do nxt and ardor get no attention? Ardor seems to be the most advanced blockchain out

PROTIP: there's no reason to own and stake ETH unless you're running an ICO scam, cryptocat, or exitscam.me dapps

>>11007152
Who cares if it's not """real""" PoS? It's ready today and it works, which is a lot more than Vitalik can say about his approach.

>>11007213
If you're a bitcoin maximalist and you can't shell out $3200 when ETH dips below $100 then you're just some no-name fool who is riding on a bandwagon.

The risk/reward on that, no matter how much you hate ETH, is just too good to pass by. Especially when it's only $3200 at most. That's chump change.
If you were a true maximalist you would have a lower time preference and could see that it's a good bet.

>>11007152
clams is proof of stake

>>11005315
L M A O

>>11007247
says who, you?

>>11007240
Because it's literally not PoS, it's DPoS which has nearly nothing in common.
DPoS coins exist for years, they have serious problems with oligarchy and mega centralization (eg. lisk).
>>11007252
how do they protect against nothing at stake and stake grinding attacks? another coin with no whitepaper

>>11007240
https://www.reddit.com/r/Lisk/comments/7e91iv/lisk_dpos_politics_101/

>>11007277
obviously you fucking idiot, who else?

>>11007325
you're a nobody shitcoiner
suck my dick I'm not buying your bags

>>11007336
>you guys should buy ETH when it drops below $100
>you only need 32 to validate
>could be pretty big in a few years


>you're a nobody shitcoiner
>suck my dick I'm not buying your bags

>>11007375
by the time ETH gets to PoS it will be so expensive to run a validating node 32 eth would be the least of my problems

>>11007385
Yea, maybe. I will begin buying the day we go under $100 though. Not all at once but I will begin to buy when that happens.
Where you putting your money right now?

>>11005678
Steem is better fir that. 6100 into steem right now and power it up and join a decent trail or delegate for passive income. That combined with even basic bloging / shitposting and you can easily top staking ETH like that.

And dont get me started on EOS. The number of ways to setup passive income on that platform is crazy. Not only will it have similar setup to steemit but you can rent out coins through deligation.

Holy fuck ETH is pure fucking shit if this is "something to look forward to" LMAO

>>11007397
I'm just in bitcoin riding the bear
sorry about being a dick I've been trolling all afternoon

>>11007409
that's cool it's /biz/

>>11006986
36.30 here

>>11007247
>The risk/reward on that, no matter how much you hate ETH, is just too good to pass by. Especially when it's only $3200 at most. That's chump change.
I agree with you on this. The staking seems dumb but if we drop below 100 I'll buy 32 immediately. It may still work out.

Why not wait until it's low double digits or even single?

>>11007834

waiting for double digits eth may be too greedy

>>11007283
You can become a validator node and stake in dPOS too, those networks are also susceptible to attacks

>>11007757
watch this be the ATL

>>11007283
because Lisks DPoS ist utter bullcrap

>>11007399
Steemit is a fucking joke

>>11005486
Aren’t state channel almost ready though which negates the need for full implementation of sharing right now?

>>11007883
This.
I have about $20K set aside for scaling in on ETH < $130.

I'm waiting for $5

PoS is literally giant whales getting more and more ETH and the sardines wirh 32 ETH getting some scraps.
And the % stake of whales will only grow over time.

>>11005486
Yeah, and the holo meme will just 'take over' by then?

>>11008617
it's baffling how NPCs struggle to deal with simple math concepts like proportionality

>>11005272

>I feel like I'm stealing at these prices

Litetally just bag holders coping.

Yeah, throwing 6k at a dying internet meme coin sounds super fucking cheap lol.

>>11008625
It has to do with game theory not math. You might be an NPC yourself.

>eth is going to 0

kek, literally the best time to open a long position

>>11005731
well said

>>11005296

Literally just nothing, normal peeps just fell for the passiv income meme.

32ETH, staked will give you a profit of 0,4ETH / Year.
But dosnt forget ETH is a coin with no Supply cap and POs Casper is years away

>>11008772
>What is token burning
>What is having the highest number of developers and projects mutually dependent on the success of an entire network for their projects to succeed

>>11006653
BASED AND REDPILLED

>>11006653
Oh so its more of a Piece of Shit Work system then...thanks anon

If your going to gamble on eth staking actually being worthwhile, your best off buying omg. The risk/reward is better than eth considering its market cap

Staking for guaranteed returns? That's what Bitconnect did, isn't it?

>>11008617
PoW is literally giant whales getting more and more ETH/BTC and the sardines wirh small mining rigs getting some scraps.

And the % stake of PoW mining whales grows over time, as any tiny advantage over competitors (cheaper electricity or hardware) well generate more profits which can be pumped back into buying more hardware.

Think about it for a second. To start PoW mining you need more than 32ETH, and you have less chance of making a profit. PoS is an equaliser, anyone can join in no matter their location or electricity cost.

>>11005296
u can validate sharts

>>11009668
32ETH is ~6500$, still to much for average joe

thx i dont need steak

>>11009682
There will be PoS mining pools for small fish with less than 32 ETH, rocket pool has already written a trustless smart contract one for Casper. Everyone will be able to stake.