In PoS chains validators deposit crypto to the network as a stake. In the chain the next validator of a block is chosen based on amount each node has staked. The higher the stake the more likely it is that they get chosen to validate the next block. If they would accept fraudulent transactions in the block a part of that stake would be burned, which is incentive for all validators to behave well. Furthermore when the validators validate a block they get rewards, just like miners get rewards in PoW chains. Anyone with a technical know-how can set up these nodes, but an easier way is to participate in an existing staking pool. How this works is you delegate your coins to an existing staking pool and you get part of their rewards, proportional of your stake of course. You can do that at a wallet or even an exchange. Former is recommended, but if you're keeping your cryptos in an exchange anyways I don't see why you couldn't stake there.

In some cases there might be a lock-up period that you can't access your crypto at all. If you'd stake through Binance for example there's 15, 30, 60 and 90 days lock-up periods. And if you stake ADA for example through a wallet there is no lock-up periods. Obviously locking your crypto can be risky since the prices might crash. And then let's say you got a couple of percent increase in your crypto holdings, but price went down 90 percent, it's not great.

I think, but am not sure, that if you stake ETH now, you can't withdraw it currently. This is because they're still in the process of converting to full PoS functionality. So probably not recommended before further upgrades. Others can probably give a better explanation.

Yeah it's another good one. I like their channel for other things as well.

thanks! but i am not sure i understand. so.... i put in money, and might not be able to access that money for a while. and my money helps to keep the block chain working? and i get paid for that?

Sell the tops and buy the dips, people say timing the market is super easy. Guaranteed riches!

Yeah that's exactly it.

There's some minor risks that you might lose money, if the operating node fails or is fraudulent or something. And like I said not all cryptos require you to lock up anything. Like staking ADA from a wallet, you can just delegate and have free access to all your crypto at all times, so it's pretty sweet.

Maybe in Coinbase there is no lock-up period, I don't know.

https://help.coinbase.com/en/coinbas...ng-on-coinbase

They mention ETH staking there, but I didn't read the whole page. Probably ask from someone else for a better exposition and specifically how it works for ETH before getting into staking. Or learn about yield farming, which housenuts recommended. In that you're providing ETH to a liquidity pool, to keep all the trading functional. Not sure about the details, but you get rewards for that too. I think you get a proportion of the transaction fees and possibly some other rewards when doing that.

But again for ETH staking, I think currently you would lock your ETH for a very long time if I'm not mistaken. That's because they're not fully PoS yet. So if you think there's a chance that ETH will crash, then you probably shouldn't stake ETH right now.

There's also staking tokens on smart contracts to earn yield and there is no lockup.

Eg. Take your wbtc and stake (deposit) it on badgerdao and you earn yield.

There's endless staking opportunities.

And this isn't to be confused with giving your coins to someone. You are effectively pointing them to interact with a smart contract. That smart contract has a predefined set of code for what it can do. It can't do anything else. So you don't have to worry about someone stealing your coins, because in ideal situations no one has any control of that smart contract. It's all just an automated yield machine.

But this is where you need to spend time to figure out which ones do as advertised vs which ones are exploitable.

Its honestly a full time job...but it pays handsomely.

Alternatively just stick to reliable 5-15% type protocol staking.

5-15% a year?

Okay, does anyone understand how this was done? I thought the idea of a blockchain made this impossible.

DOJ seizes millions in ransom paid by Colonial Pipeline

i read that the funds were deposited to coinbase? which would be pretty lol if true.

The FBI recovered a huge chunk of the Colonial Pipeline ransom by secretly gaining access to Darkside's bitcoin wallet password

However, I still got questions...

I have questions too, like why aren't any of you in Miami for Bitcoin2021?

i bought $9k in solana SOL

it's the number 13 coin right now, but sounds like it could be a lot bigger

Means: I have no real idea or reasons but I'm hoping a lot!

amirite?

the guys on the uponly podcast seem to like it. they talk about it a lot. the guys who are working on it are smart guys.

these guys have a track record of making a lot of money

but yeah, idk **** about it myself lol

So yes!

so that's dropped 25% in the 3 days since i bought it

Today is all ouch ouch ouch.

I bought the dip maybe. Whenever Mark posted

I dig it!

down 50% in 5 days now lol

let us know when you sell it so we can buy!

lol stfu marknfw! but also, yeah i will lol

do any of you all know how to use bollinger bands?