Can I earn money by staking coins?

In the cryptocurrency world, everybody knows about mining bitcoin. In the ”old days”, people could setup mining on a regular home computer with a powerful graphics card installed and actually make a dime from time to time. But as Bitcoin is getting harder and harder to mine, people let the big players mine bitcoin and look to other coins to try to make a profit.

Normally you mine with your computer and get coins as a reward. That’s how transactions are confirmed. That’s called Proof of Work (PoW) and is referred to as mining.

But there is also a System called Proof of Stake (PoS), where transaction confirmations are not done with hardware, but with already owned coins. An amount of your coins are ”on the stake”, while they are used for staking. That depends a little on the implementation, but basically you get a certain percentage of your coins as a reward.

Some people think, they can ”earn” coins this way, but that’s nonsense, because if the market cap stays stable, the single coins are worth less, if new coins are generated. So you just “keep” your value, if you are staking. And you ”lose”, if you are not. It’s like in a bank if you get 2% interest and the inflation is 2% as well. You only “earn”, if there are transaction fees and if those are also paid to the staker.

Huge thanks to Dwarrel Corner for originally posting on telegram.

Monitoring masternode investments

Ready to invest in an altcoin masternode? Picking the right coin can be a bit of a headache, but a new line of masternode comparison websites are popping up, showing a lot of financial stats on a wide range of coins.

The 3 websites listed here are more or less covering the same coins, but as some of the sites are “pay-to-list”, some coins are missing out.

We’ll be looking at 3 masternode monitoring websites:

  • MasterNodes.online
  • MasterNodes.pro
  • MNrank.com

MasterNodes.online

MasterNodes.online

Clean simple website with plenty of info on 41 coins. At MasterNodes.online it’s also possible to setup your own list, monitoring the masternodes you decide. Unknown listing price. Full HTTPS site.

MasterNodes.pro

MasterNodes.pro

Horrible looking website. Basic info on the masternodes and no special features compared to other sites. Site code available on Github. Coin listing is USD400.

MNrank.com

MNrank.com

Basic financial info for the masternodes. Free alert service (beta) for monitoring your own masternodes.

So… Which monitor to choose? Well, I can’t pick one over the other, as they all have unique coins listed and unique services offered. Also, you should NEVER rely on a single source of information in the world of crypto. Keep these sites in mind when planning your next masternode investment, and you’ll be off on a good start.

Biblepay – Orphan supporting altcoin project (minable)

BiblePay is a secure deflationary blockchain developed to benefit those in distress. 10% of the emission of the blockchain goes directly to sponsoring Orphans, with provable contributions, contributed to an organization that is more than 75% efficient.

The altcoin BiblePay is not a PoS (Proof-of-Stake) coin. It’s not a PoW (Proof-of-Work) coin. But what is it? It’s PoB (Proof-of-Biblehash).

This snipplet from the project website www.biblepay.org describes what Proof-of-Biblehash is:

Proof of Work has been replaced with Proof Of Biblehash (POB) – an algorithm that compensates full nodes participation, while preventing GPUs and ASIC by requiring full blockchain transaction referencing in the hashing function, along with chained bible verses. This means biblepay subsidizes full nodes that stay online.

Also worth mentioning is the fact that premine, dev fund, airdrop etc. on BiblePay (BBP) is 0%!

NO PREMINE – the lead dev starts with zero, the orphan foundation fund starts with zero, the distribution is entirely fair. NO ICO. The distribution curve is evenly declining with no hidden bumps early.

There you have it. Start mining today, on your desktop computer. It’s easy to get up and running. Follow on and check out this post to learn how to start mining BiblePay (BBP).

BiblePay is currently (Nov 2nd 2017) traded at C-CEX in the following pairs:

Great tool for monitoring masternodes

MasterNodes.online is a masternode comparison platform currently monitoring 39 different coins. The site is a great tool for planning masternode investments, as you get a clear overview of how the coins are performing.

The overview page gives you quick info on all the coins, such as coin price, masternode requirements (also known as collateral), annual ROI, masternode valuation etc. For each coin there’s additional advanced info such as income calculations, block monitoring, lock down status and historical data presented as nice looking simple graphs.

If you’re into masternode investments, you should drop by MasterNodes.online and take a look. The site opened in June 2017 and the devs are happy to get recommendations on how to make the service even better.