Post
Topic
Board Altcoin Discussion
Re: Do you recommend staking?
by
Ucy
on 28/05/2021, 10:47:19 UTC
I do not recommend staking on anything that has not a long lasting record of real use for the network, since staking is just about getting rewarded for the safety of a network and that only makes sense if the network has sufficient transactions to  make it even worth being secured. Many people are confused with words such as "dividends" or "returns" but the truth is that value cannot be generated without user willing to use the underlying network. How many use cases are already in place for the network of your choice? Probably none.

Ofcourse.
It's actually a bad idea to buy and stake cryptocurrency that isn't:
1. Well decentralized,
2. Consensus-driven,
3. Based on fair rules that can't easily be changed without stakeholders permission,
4. Censorship resistant,
5. trustless/permissionless,
6. privacy-friendly/anonymity-friendly,
7. Immutable
8. secure,
9. very useful
etc

It's a gamble/big-risk to stake lots of coins that aren't safe/well-decentralized , or with coin/platform controlled by people who can easily breach the social contract between them and participants.