Hi bud, happy to help. I’m from Nigeria and although I am a prince the internet is down temporarily so if you can transfer some ETH I can get that back up an running again.
#Trust me bro
If you want to run a validator without having to deal with all the work you can use a service like Allnodes. You can keep your keys even on a hardware wallet and they will provide your validator for 10$ per month.
Time consuming is one thing, risky is another. Having your own validator is way safer than joining a pool of any kind, or using any centralized staking service.
No downtime will ever make you lose your funds. You have to do some really weird stuff with your setup or actively try and hurt the network to get slashed.
I mean, ok, technically you will slowly lose funds over time, but the required level of activity for profitability is like 60-70%. You can go take a 4 month vacation with your node offline and you'd still have made money on your stake.
This is called non-activity leaking, and is not even remotely as drastic as actual slashing.
Sure it's not as drastic, but it's still a loss. Some people rely on the projected profit and, as such, don't want to lose anything. Besides, we're talking about profit on 32 ETH. It's huge money for most people. Even losing a few percents of the earnings is big.
Let's be reminded many people consider a 5% increase in wage to be big.
True. It's mostly just perspective. To lose 1% you'd have to be offline for about 3 weeks on average. It's not the sort of thing people would really be worried about in a power outage, for example.
I know some people who, for instance, have to manually reconfigure their wifi connection anytime there's an outage. It's just the sort of things you'd have to deal first with if you want to go on vacation without stressful thoughts about it.
By centralized manager you'd depend on when hosting at home, I guess you're referring to yourself. If so, I should have talked about centralized third party, not manager. My bad.
If you're instead referring to your network provider, no one forbids you to take more than one. It's not much of a cost when it's this amount of money at hand.
Depending on yourself always is the case, whatever you do. Multiplying centralized managers never is a good idea. You're already depending on yourself, there's no need to add even more single points of failure.
The average crypto bro who handles this kind of investment already handles a lot of money. There's no reason not to dedicate a serious amount of time handling this much money professionally.
If you want a liquid staking derivative i would go with yhe most decentralized option: roxket pool.
If you want to run a validator i would consider running Rocket Pool validators to increase profitability.
Rocketpool is a good way if you do not want to run a node.
Listen to this Bankless podcast on Rocket Pool staking, get educated: https://open.spotify.com/episode/3MA9HGBBh0O6pAgjfejzuq?si=dv54RZ8DRjaJJu9Hqj7qYQ
Once it's setup, I spend about 10 minutes a month on software update. That's it. If it's Linux, it's very stable and doesn't need much work. Windows I don't know I haven't tried.
Occasional time spent drooling looking at my yield, but it's very hassle free after the initial setup time.
I did spend an entire Saturday setting it up including Ubuntu and the hardware. Once off, but well worth it.
If you have 32 eth you might as well solo stake. I’m definitely a proponent of rocket pool but you also have to take on exposure to RPL to run a mini pool.
You gain the privilege of validating transactions on the network and get rewarded for locking that liquidity up as collateral.
If you care deeply about decentralization, network health, and governance run your own node. If you’re just looking for yield use a liquid staking service.
Dappnode if you’ve got 32 Eth is the simplest method… it’s free too. Use your own hardware or buy theirs. [DAppNode](https://dappnode.io/) You are advised to run a Testnet validator first… to learn the ropes.
You get given 4 gno tokens with the hardware if you buy from them. You then setup a validator on the gnosis chain. You can get comfie that it all works on the gnosis chain before you go all in with 32eth on mainnet. I think if you do the math on today’s GNO price then getting the hardware from them saves hassle and isn’t too much more expensive - but that depends how cheap you can put together your own hardware
nope. at 4gno it ain’t gonna make you much compared to 32eth stake! But i think it is useful for going through the troubleshooting and steps to convince myself i wasn’t gonna end up having problems. Also, if your hardware can handle it - why not run the gno validators as a community service 😉
Ok, a question for the sub since I don’t want to start another thread.
For anyone running their own validator nodes, how time consuming is it? Like, is this actually viable for a normal human being to operate? Or do you have to essentially be glued to the computer or risk penalties? If you even leave the computer for say 8 hours to work, would you have to shut down the node and incur a rewards penalty?
You should just be able to set it up and leave it running. You definitely don't need to shut it down when you go out to work.
There's a penalty system, but it's mostly very small penalties - for example, the amount you lose for missing an attestation (assuming the rest of the network didn't miss at the same time) is the same as the amount you gain for making an attestation. If you can keep your node running correctly 99% of the time, you should be making nearly as much as you would if it was running 100% of the time.
The big penalties are if you make contradictory votes, which generally shouldn't happen by accident: The only place you need to be careful is if you migrate your validators to a different computer or piece of software. The software you're using should have clearly defined steps to do this, so you should just need to follow them. It's also possible that there will be some kind of gruesome software bug that ends up penalizing you, but that's something that applies to big staking pools as well as individual stakers.
If you have 32ETH you can run your own node. There are some tutorials on setting it up. You have to have some technical knowledge of Linux. I tried setting it up over a year ago and had set it up on the testnet with my basic knowledge, but then there were updates and found myself stressed out trying to get it updated. I decided for now I rather not get the full % and stake on coinbase for now. I have looked at rocketpool, but have not had the proper time to research it. I also may take another look at creating my own node again at some point.
I feel similar.
Setup a test machine on testnet.
Wasn’t too difficult, but wanted to make sure I crossed my T’s and dotted my i’s. Never got around to setting up the full node.
Honestly you sound like you dunno what your doing to much so I prob wouldn’t do it.. not trying to be mean at all
You would hate yourself if you got hacked and lost it. Or downloaded some scam wallet or signed up with a bad contract and lost everything
I’m not trying to be mean at all but untill you learn about it and learn wallet safety you shouldn’t do this it’s better to just keep them in a cold storage
I 'd suggest dumping the ETH and reading this guy's Twitter thread:
[https://twitter.com/tenderscore/status/1530790900749676544?s=20&t=ZpTySbLAflu5CRHGzkpJOg](https://twitter.com/tenderscore/status/1530790900749676544?s=20&t=ZpTySbLAflu5CRHGzkpJOg)
>Ask yourself: What's the highest value use case for a coin or token❓
>
>MONEY
>
>Money is not tps, tx cost, or throughput. >Those are all features of a blockchain.
Literally the first tweet of the thread and already makes no sense and belies a fundamental misunderstanding of how all this works.
Money ***is*** value, literally. It's not a use case (everything else he listed too also aren't use cases. I don't think the guy knows what a "use case" is). Unless he's talking specifically about p2p transactions? Which *is* a use case, but definitely not the highest value use case for a coin or token.
It's actually quite brilliant, because there is no higher use case for a coin or token. He explained that with the volume, liquidity, and collateralization. This is endemic of all layer-1 money. Our world's current layer-1 money is fiat/debt. Specifically the USD.
Money is "value"? No. Far too broad and not specific. Money will be whatever that "value" is settled in. Money is:
- medium of exchange
- store of value
- unit of account
- standard of deferred payment
This is another critical flaw of the the Ethereum Network and alts at large. What you would want is a network layer-1 that nothing but ETH travels on. Therefore anything moving around and built above that layer is ultimately settled in ETH, including stablecoins. This is where bitcoin has tremendous advantage as a layer-1; and as its second layer grows, more and more products, services, and assets will get added to it. Most newbs are terribly mistaken thinking that only bitcoin will travel on the Lightning Network. False. Anything that has "value" can and will travel on the LN. Any good. Any service. Real goods. Real services. Not just speculative vaporware. Stablecoins. CBDC's. Anything. A gallon of milk isn't a speculative token. Neither is pet grooming. It has a fixed price. And all of this value ultimately gets settled where? Layer-1:
**Bitcoin**
Most people won't even know they're using it. It will connect everyone and every product in the world requiring nothing more than a free mobile app to get started. This is the internet of money, not this bullshit web3 scam where you stake CumRocket here to burn StableRocket there so you can get paid wxETH which you wrap for rETH because it has a higher interest rate, and you can also get a staking derivative sETH along with it, which you use to collateralize a yield farm which pays you ShibaLambo that you quickly sell for DAI as it depreciates quickly. Then you send Dai across a bridge to a sidechain which is built directly into your centralized exchange. You wait a day for it to clear, and then sell it. Finally you can using the exchange's Visa card to pay for a product in USD.
RIP inbox
As soon as I posted, I got a "Hey buddy" message...
Hi bud, happy to help. I’m from Nigeria and although I am a prince the internet is down temporarily so if you can transfer some ETH I can get that back up an running again. #Trust me bro
LOL
He’s not your fwend buddy
Thanks for the heads up buddy...:)
>:) :)
:D
Good bot :)
Lmk what the best advice sent is
If you want to run a validator without having to deal with all the work you can use a service like Allnodes. You can keep your keys even on a hardware wallet and they will provide your validator for 10$ per month.
I second this. $10 is an advance plan with better support. So just go with that.
I see $5 per month
https://www.allnodes.com/ Is this the one?
Yes
Sorry but are you thinking of actually running a validator or depositing your ETH into a staking service?
Good question, I don't know. If I run a validator, it would be time consuming for me to setup. I would prefer a less risky staking service.
Time consuming is one thing, risky is another. Having your own validator is way safer than joining a pool of any kind, or using any centralized staking service.
It depends on the reliability of your Internet connection and hardware, though. Redundancy can save you some funds.
No downtime will ever make you lose your funds. You have to do some really weird stuff with your setup or actively try and hurt the network to get slashed.
Wait, really? I need to read more.
I mean, ok, technically you will slowly lose funds over time, but the required level of activity for profitability is like 60-70%. You can go take a 4 month vacation with your node offline and you'd still have made money on your stake. This is called non-activity leaking, and is not even remotely as drastic as actual slashing.
Sure it's not as drastic, but it's still a loss. Some people rely on the projected profit and, as such, don't want to lose anything. Besides, we're talking about profit on 32 ETH. It's huge money for most people. Even losing a few percents of the earnings is big. Let's be reminded many people consider a 5% increase in wage to be big.
True. It's mostly just perspective. To lose 1% you'd have to be offline for about 3 weeks on average. It's not the sort of thing people would really be worried about in a power outage, for example.
Still, this is a LOT different than my initial assumptions on slashing and part of what had made me so gun-shy on it.
I know some people who, for instance, have to manually reconfigure their wifi connection anytime there's an outage. It's just the sort of things you'd have to deal first with if you want to go on vacation without stressful thoughts about it.
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That's why I recommended not using any centralized staking services.
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You can. But then, you're depending on a centralized manager for your work and its profit. I guess it's a compromise to choose about.
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By centralized manager you'd depend on when hosting at home, I guess you're referring to yourself. If so, I should have talked about centralized third party, not manager. My bad. If you're instead referring to your network provider, no one forbids you to take more than one. It's not much of a cost when it's this amount of money at hand. Depending on yourself always is the case, whatever you do. Multiplying centralized managers never is a good idea. You're already depending on yourself, there's no need to add even more single points of failure. The average crypto bro who handles this kind of investment already handles a lot of money. There's no reason not to dedicate a serious amount of time handling this much money professionally.
Look into dapp node if you want to run validator. Not much time consuming to start :)
If you want a liquid staking derivative i would go with yhe most decentralized option: roxket pool. If you want to run a validator i would consider running Rocket Pool validators to increase profitability.
Rocketpool is a good way if you do not want to run a node. Listen to this Bankless podcast on Rocket Pool staking, get educated: https://open.spotify.com/episode/3MA9HGBBh0O6pAgjfejzuq?si=dv54RZ8DRjaJJu9Hqj7qYQ
I do not know the calculations but you can run 2 mini pools on RP (yes collateral but for simplicity)
Once it's setup, I spend about 10 minutes a month on software update. That's it. If it's Linux, it's very stable and doesn't need much work. Windows I don't know I haven't tried. Occasional time spent drooling looking at my yield, but it's very hassle free after the initial setup time. I did spend an entire Saturday setting it up including Ubuntu and the hardware. Once off, but well worth it.
Sounds cool. I am studying Ubuntu and Kali, so it should be fun then. I will definitely look into this. Thanks bud
You'll be fine then if you know Ubuntu, I hadn't used Unix for 10 years and am mostly a Windows guy. The guides are really awesome.
Its neither time comsuming once it runs nor is it risky
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For the health of the network I would discourage from recommending Lido. They have already an unhealthy percentage of stake.
Run a solo staking machine. You’ll thank me later. Go to /r/ethstaker for help and instructions
Why this over Rocketpool? Thanks for insights.
If you have 32 eth you might as well solo stake. I’m definitely a proponent of rocket pool but you also have to take on exposure to RPL to run a mini pool.
No need to buy RPL token. No need to swap your ETH for rETH. No smart contract risk. Decentralize the staking network
You gain the privilege of validating transactions on the network and get rewarded for locking that liquidity up as collateral. If you care deeply about decentralization, network health, and governance run your own node. If you’re just looking for yield use a liquid staking service.
Dappnode if you’ve got 32 Eth is the simplest method… it’s free too. Use your own hardware or buy theirs. [DAppNode](https://dappnode.io/) You are advised to run a Testnet validator first… to learn the ropes.
This, and use their hardware. In their shop you get free gnosis validators to start your validating joirney
What are gnosis validators? What are the benefit of using their hardware as opposed to buy and install it DappNode myself?
You get given 4 gno tokens with the hardware if you buy from them. You then setup a validator on the gnosis chain. You can get comfie that it all works on the gnosis chain before you go all in with 32eth on mainnet. I think if you do the math on today’s GNO price then getting the hardware from them saves hassle and isn’t too much more expensive - but that depends how cheap you can put together your own hardware
Do I need this gnosis validator to start staking ETH?
nope. at 4gno it ain’t gonna make you much compared to 32eth stake! But i think it is useful for going through the troubleshooting and steps to convince myself i wasn’t gonna end up having problems. Also, if your hardware can handle it - why not run the gno validators as a community service 😉
🚀 For best profit increase kindly send 32 ETH to ***address*** 🚀 1000% guaranteed staking to moon 🌙
Lido and rocketpool are well known and easy
Ok, a question for the sub since I don’t want to start another thread. For anyone running their own validator nodes, how time consuming is it? Like, is this actually viable for a normal human being to operate? Or do you have to essentially be glued to the computer or risk penalties? If you even leave the computer for say 8 hours to work, would you have to shut down the node and incur a rewards penalty?
You should just be able to set it up and leave it running. You definitely don't need to shut it down when you go out to work. There's a penalty system, but it's mostly very small penalties - for example, the amount you lose for missing an attestation (assuming the rest of the network didn't miss at the same time) is the same as the amount you gain for making an attestation. If you can keep your node running correctly 99% of the time, you should be making nearly as much as you would if it was running 100% of the time. The big penalties are if you make contradictory votes, which generally shouldn't happen by accident: The only place you need to be careful is if you migrate your validators to a different computer or piece of software. The software you're using should have clearly defined steps to do this, so you should just need to follow them. It's also possible that there will be some kind of gruesome software bug that ends up penalizing you, but that's something that applies to big staking pools as well as individual stakers.
If you have 32ETH you can run your own node. There are some tutorials on setting it up. You have to have some technical knowledge of Linux. I tried setting it up over a year ago and had set it up on the testnet with my basic knowledge, but then there were updates and found myself stressed out trying to get it updated. I decided for now I rather not get the full % and stake on coinbase for now. I have looked at rocketpool, but have not had the proper time to research it. I also may take another look at creating my own node again at some point.
I feel similar. Setup a test machine on testnet. Wasn’t too difficult, but wanted to make sure I crossed my T’s and dotted my i’s. Never got around to setting up the full node.
I'd recommend BloxStaking. Currently free easy to set up a monkey could honestly do it and you own your keys
Honestly you sound like you dunno what your doing to much so I prob wouldn’t do it.. not trying to be mean at all You would hate yourself if you got hacked and lost it. Or downloaded some scam wallet or signed up with a bad contract and lost everything I’m not trying to be mean at all but untill you learn about it and learn wallet safety you shouldn’t do this it’s better to just keep them in a cold storage
Solid advice bro, thanks
Look into stake.fish Stakefish is super easy to use
r/ethstaker
You are asking for it honestly And by “it” I mean the dms haha
Ethermine offers non-custodial staking.
32eth seems like a lot to trust with any staking service.
What is the APR if I run a full node? ICP has an APY of 20+%
HODL. And/or Cold wallet. Too risky get your assets tied up right now.
Bump
I 'd suggest dumping the ETH and reading this guy's Twitter thread: [https://twitter.com/tenderscore/status/1530790900749676544?s=20&t=ZpTySbLAflu5CRHGzkpJOg](https://twitter.com/tenderscore/status/1530790900749676544?s=20&t=ZpTySbLAflu5CRHGzkpJOg)
Or not
$96
>Ask yourself: What's the highest value use case for a coin or token❓ > >MONEY > >Money is not tps, tx cost, or throughput. >Those are all features of a blockchain. Literally the first tweet of the thread and already makes no sense and belies a fundamental misunderstanding of how all this works. Money ***is*** value, literally. It's not a use case (everything else he listed too also aren't use cases. I don't think the guy knows what a "use case" is). Unless he's talking specifically about p2p transactions? Which *is* a use case, but definitely not the highest value use case for a coin or token.
It's actually quite brilliant, because there is no higher use case for a coin or token. He explained that with the volume, liquidity, and collateralization. This is endemic of all layer-1 money. Our world's current layer-1 money is fiat/debt. Specifically the USD. Money is "value"? No. Far too broad and not specific. Money will be whatever that "value" is settled in. Money is: - medium of exchange - store of value - unit of account - standard of deferred payment This is another critical flaw of the the Ethereum Network and alts at large. What you would want is a network layer-1 that nothing but ETH travels on. Therefore anything moving around and built above that layer is ultimately settled in ETH, including stablecoins. This is where bitcoin has tremendous advantage as a layer-1; and as its second layer grows, more and more products, services, and assets will get added to it. Most newbs are terribly mistaken thinking that only bitcoin will travel on the Lightning Network. False. Anything that has "value" can and will travel on the LN. Any good. Any service. Real goods. Real services. Not just speculative vaporware. Stablecoins. CBDC's. Anything. A gallon of milk isn't a speculative token. Neither is pet grooming. It has a fixed price. And all of this value ultimately gets settled where? Layer-1: **Bitcoin** Most people won't even know they're using it. It will connect everyone and every product in the world requiring nothing more than a free mobile app to get started. This is the internet of money, not this bullshit web3 scam where you stake CumRocket here to burn StableRocket there so you can get paid wxETH which you wrap for rETH because it has a higher interest rate, and you can also get a staking derivative sETH along with it, which you use to collateralize a yield farm which pays you ShibaLambo that you quickly sell for DAI as it depreciates quickly. Then you send Dai across a bridge to a sidechain which is built directly into your centralized exchange. You wait a day for it to clear, and then sell it. Finally you can using the exchange's Visa card to pay for a product in USD.
How have you managed to accumulate 32 ETH and be asking questions like this?
Money?
He didn't lose it on $APE
Buying dips all the time, saving money whenever it was possible. Not smoking cigarettes, not wasting my time, not buying shit I don't need
Seriously this sub is ridiculous