Any other Stakers?

Scottex99

Gary1984 said:

Well you have a much higher risk tolerance than me! But the risk of them going to zero is relevant *given the original comparison to a standard bank account*.

I still don't get the double digit interest thing and nobody seems able to explain where this comes from. As far as I can tell it can only be through new tokens being created, which if demand for the tokens remains unchanged should reduce the value of each token by a commensurate amount so you'd end up back where you were. 

 Yeah it's not for everyone, i've already worked in the industry for 4 years though.

Staking is a reward for your providing liquidity, stablecoins like USDT/USDC are a good example of that. Many exchanges need a good supply of them always. Therefore, you stick in say 10k USDT, just like a bank, the firm you stake with uses those coins to generate a lot more than the 10% that they reward you with per year, in USDT.

Celsius I prefer but there's a few players on the market.

We're also staking some company reserves at my firm, making a ludicrous amount compared to if we were just holding fiat. (We do hold plenty of € and £ for regcap, fees, pay the salaries etc too)

Scottex99

Also all the stablecoins are pegged to 1 USD, so no volatility (assuming no crazy black swan event)

HansOndabush

mark55man said:

How does vintage wine or art collections accrete value - no more are being created but the value goes up.  

Inflation. Fiat currencies always devalue against hard assets like the ones you mention plus housing, gold, and silver.

AnotherJoe

Flatulentoldgoat said:

ErinGoBrath said:

Flatulentoldgoat said:

Just bought a some DOT and started Staking it on Kraken. Interest rate (RPY) of about 12%. That's phenomenal compared to what you could expect to receive in an ordinary savings (or even in a regular fund)

Yes this some risk but with the Crypto bull market continuing it seems mad not to. And to those worried about risk, a Limit sell order takes care of losses if things ever seriously go into reverse gear.

Any other stakers out there?

Do you shine shoes? 😀

Only you know what that means....You're very clever!

I know what it means. Does that mean I also am very clever?

Malthusian

darren232002 said:

As I have said, it comes from a very legitimate and sustainable use case. But I'm not doing everything for you.

An undertaking of great value, but nobody to know what it is? Well I'm convinced bro, here's all my money.

Question: if the bro in New York has a money-making machine which allows him to back a promise to pay all punters their deposit in real dollars plus 10% per year, in real dollars, when they want to cash out their digital dollars, then why faff about with crypto and restrict potential investors?

Why not offer returns of, say, 8% per year to the wider financial market if they invest in his money-making machine?

Reality says: Because only crypto bros will believe in his claim to have a money-making machine that allows him to guarantee to pay deposit + 10%pa in real dollars to anyone who cashes in their digital dollars.

Cryptobro says: BUT MUH BLOCKCHAIN!

Flatulentoldgoat

annabanana82 said:

Flatulentoldgoat said:

Crypto is a big 'scam' according to the Boomer friend I know. There's no way to convince him otherwise. I suspect the real reason is because he's sore he missed out on the whole investment opportunity.

I'm sure he'd fit in here perfectly.

@Flatulentoldgoat perhaps a personal question if you may? 
5 months ago you posted about your friend earning £45k pa and you couldn't quite get your head around someone earning so much money. Now you are talking about putting thousands into high risk opportunities without so much of a second thought. How do you go from one extreme to another in such a short space of time?

For what it's worth, I don't invest in crypto, I don't understand it and to be honest I feel no need or desire to so. Gut feeling is it's very volatile some people will be lucky others less so. 

As a general comment and not to you personally reading some of the comments, the phrase that comes to mind is; "the lady doth protest too much" 

Oh I'm just thinking about it, in case one day I get a job paying £50k... I'm hoping to become a shop manager in a few years.

The_Green_Hornet

This is always worth a read.

https://www.bbc.co.uk/news/stories-50435014

Don't have nightmares.

Scottex99

The_Green_Hornet said:

This is always worth a read.

https://www.bbc.co.uk/news/stories-50435014

Don't have nightmares.

This is pretty irrelevant to anyone who has half a clue. Although noobs beware, yup

Gary1984

If someone can make 14-100% returns with your tokens by 'staking' then why don't they just sell everything they have and do it themselves. Why do they need your tokens to do it? This all sounds like such a scam (not crypto in general, just this staking business). 

Flatulentoldgoat

Scottex99 said:

The_Green_Hornet said:

This is always worth a read.

https://www.bbc.co.uk/news/stories-50435014

Don't have nightmares.

This is pretty irrelevant to anyone who has half a clue. Although noobs beware, yup

This sort of piece is just an ego rub for the boomers and their 0.40% savings accounts that are locked away for 5 years.