Proof of work vs. Proof of stake
They're several different types of cryptocurrency and platforms used in the digital space. Most of these all fall under 1 of the 2 types of methods.
When looking at this in terms of profitability mining was a better option before but now with the mainstream coins difficulty, technology and electricity cost became a huge factor. Cloud mining combined with a reinvestment strategy was promising. Hashflare helped me develop a steady source of income. Now with bitcoin down and the increasing hash costs it is not as profitable. This has influenced me into looking for alternative methods of passive income.
Staking is when you hold a certain amount of coins that are proof of stake compatible and your percentage increases or produces more blocks based on the amount of your holdings. An example of this is NEO, when you hold NEO on the Kucoin exchange you are paid everyday in GAS.
You can simply go to these sites to setup this method of income
https://neotogas.com/ -is a way to estimate potential earnings for NEO/GAS
https://www.kucoin.com/#/?r=28Q6P - The kucoin exchange is unique because it is the only exchange that pays you dividends on holdings in its own cryptocurrency , kucoin shares (KCS). The dividends come from the profits of commissions from the trades and transactions the exchange receives/ does. There are many coins that offer (POS) its up to you if you have enough to invest in the minimal amount enough to produce more coins. Some of the investments I have are in DAVORCOIN, PIVX, NEO, and ETHEREUM (which will me switching to a hybrid system) Something to consider is if the cryptocurrency has a market supply cap, volume being traded and how much it is worth. If the coin has an unlimited supply then it will be worth less further down the line based on an economical point of view. If it is traded at low volume then the volatility can be more risky and more susceptible to pump and dump strategies as well as market manipulation from whales.
https://davor.io/Account/Registration?r=8D2B22
https://pivx.org/
If you have any questions DM me on Instagram @satoshipapi
Thanks for the PIVX shout out. PoW is not sustainable if blockchain is going to have a future. The energy costs would cripple us. PoS is the most logical way forward at this time.
agreed
How secure do you think POS is when compared to POW? Can its blockchain be taken over more easily?
time will tell so far pow looks to be more secure with iota and nem loosing millions of dollars a safer bet is with pow but bitcoin has serious issues with transactions and the fees .. miners are aware of this and are converting to altcoins .. even proof of stake. I think as the proof of stake coins progress it will be more secure for now diversification is key ! as you saw in the article I have cloud mining production that is locked in for this year but those profits I am investing in proof of stake. With high volume pos coins I don't see that much of a risk of manipulation
thank you for your question
Coins mentioned in post:
thanks for the support as you can see the 7 day trend was a great investment price wise and because I have more coins