Staking Vs Masternode On Pivx

Discussion in 'Altcoins' started by gbolahan, May 10, 2017.

  1. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    We have been discussing masternode for a while now and staking.you can check on What Is Node And Masternode As It Used In Altcoin to know what we mean by masternode

    You can also check What You Need To Know About Masternodes|2017 List Of Altcoins That Support Masternode

    PIVX is a coin whose mining base on proof of stake.you dont know proof of stake? Please check here What Is Proof Of Stake In Cryptocurrency? to see what we mean by proof of stake.PIVX coin can be mined in two ways masternode and staking,below is the rewiew of masternode and stake

    Masternode
    • Better rewards (in most cases)
    • More predictable profitability & payout rate by looking at the stat page
    • Ability to vote on proposals (although this may go away in the future)
    • Can be hosted away from your main wallet with the coins
    • Higher running cost due to higher resource requirement
    • Not the easiest to setup and troubleshoot when you run into issues
    • Require exactly 10,000 (10K) PIV to setup 1 masternode

    Staking
    • Ease of setup. (just have coins in the wallet, put staking=1 in conf then unlock it to start staking)
    • No initial startup time (payout delay) unlike a masternode requiring 3-6 days when it's first started.
    • Flexible (less penalty/delay for being offline for over an hour like a masternode)
    • No minimum or specific amount of PIV is needed to activate staking.
    • Unpredictable profitability & frequency of payout
    • Most likely less payout amount / frequency than masternode (due to higher competition & lower block reward)
     
    Last edited: May 10, 2017
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  3. Prezzy

    Prezzy Leader Protector

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    I must say that this is seductive bro.
    Honestly, pivx is still dropping and at the moment it's at about $1

    Do you think it will go further down?
     
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  4. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    I think we should wait a little longer bro
     
  5. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    In a traders view i think we should buy some now
     
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  6. Prezzy

    Prezzy Leader Protector

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    Hmm, OK.
     
  7. Prezzy

    Prezzy Leader Protector

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    Pivx video

     
  8. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    Watch the setup and procedure on how to stake there for window
     
  9. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    Setup tutorial for mac
     
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  10. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    Or what do you think bro
     
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  11. Prezzy

    Prezzy Leader Protector

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    @gbolahan I have seen the video and its not a difficult thing at all.

    However, what I don't know is how much someone needs to be earning a reasonable amount daily.

    Am researching on that now and
     
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  12. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    Ok boss
     
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  13. Prezzy

    Prezzy Leader Protector

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    I was able to find that.

    1. You can stake with any amount.
    2. The return of investment is almost directly related to the amount you staked.

    Question now is.. Considering I staked with my laptop, does jt have to be on consistently?

    Or can I put it off and then staking won't be interrupted (I mean my earnings or staking).

    I hardly think that's the case anyway.
     
  14. Prezzy

    Prezzy Leader Protector

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    But I'll still love to hear what you think @gbolahan
     
  15. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    @Prezzy this is what i found on their site about staking

    How to start staking?

    If you have a substantial amount of PIV, you should stake. It's safe and you get free PIV! You only have to run your computer/server for 24/7 (it can be offline about 50 minutes per day for updates/reboots). Staking is enabled by default.
     
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  16. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    All other questions related are answer here

    Staking
    What is staking?
    You can compare staking with bitcoin mining, but instead of using cpu power, you use your PIV to gain interest. The more PIV you have, the more often you will earn a 'stake'.

    How much do you earn with staking?
    It depends. At the time of writing you get about 1 stake per 14 days if you have 1000 PIV in your wallet, and 1 stake per 1-2 days if you have 10.000 PIV in your wallet. The stake earnings are shown on this site.

    How to start staking?
    If you have a substantial amount of PIV, you should stake. It's safe and you get free PIV! You only have to run your computer/server for 24/7 (it can be offline about 50 minutes per day for updates/reboots). Staking is enabled by default.

    Do I need to restart my wallet after adding PIVX?
    No, that's not necessary, after 101 confirmations it will be added to your staking amount.

    Why isn't staking working?
    It could be a couple of things. Make sure your added funds have 101 confirmations. Make sure your wallet is unlocked for staking, and make sure your wallet has more than 1 active peers (see the icons in the bottem right). If staking works, the arrow in the bottem right will turn green.
     
  17. Prezzy

    Prezzy Leader Protector

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    Ouch. That's not gonna work in Nigeria bro.
    I hope you understand why.
     
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  18. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    Yea i know but what about hosting service
     
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  19. Prezzy

    Prezzy Leader Protector

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    I think the problem here with hosting will be Profitability bro.

    For example, you host with $6 monthly and how much PIVX do you need to earn $7 in a month?

    That's the kind of question one should be asking.
     
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  20. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    You are right bro...i need to make some findings about the profitability
     
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  21. Prezzy

    Prezzy Leader Protector

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    i hope it's worth it!