22 Feb Mining Proof of Stake coins puts the power of Central Banks in your Laptop
As part of my quest to build out my crypto battle chest with well-diversified crypto investments, I began to do more heavy research mining Poof of Stake (PoS) coins and the options on the market.
Proof of Work (PoW) mining vs. Proof of Stake (PoS) mining
The difference in how you’re paid mining rewards
With PoW mining, you run computer hardware to confirm transactions and secure the network to earn mining rewards.
With PoS mining, to earn mining rewards you simply hold (a.k.a.) stake your coins in a wallet and stay connected to the network to earn mining rewards.
Staking Wallets for Profits
PoS mining coins bring profits in the form of more coins at rates ranging in general, anywhere from 5% Annually to hundreds of percentages, for example 200% or 808%. That’s right, 3x or 9x the original amount of coins you invested in.
Some of the most widely adopted PoS coins earn approximately 5% rewards, including NEO, PIVX, Reddcoin, and Stratis.
Now 5% per year may not sound like much if you think about the price volatility of cryptocurrency, but it’s important to note that a 5% increase in coins is very different, and arguably better than a 5% short-term increase in price.
Mining reduces your price risk in the long run
Once you have traded your fiat currency to cryptocurrency, you expose yourself to the price risk of the cryptocurrency market with your set amount of coins, and your options to generate profit involve either sitting and waiting for price appreciation or trading.
When you mine, you generate more coins at all price levels, and over the long term you have more holdings regardless of the price of the coin.
Staking wallets pay you in more crypto!
Earning more cryptocurrency is a different form of profit than price appreciation. When you are increasing your coin balances with PoS mining and the price of your coins also increases, you are making gains on both ends: more coins and price gains.
If it hasn’t dawned on you yet exactly what this means, here is some visual aid.
Cryptocurrency mining is like having your own money printing machine
This is exactly why mining Bitcoin and Alt-coins is in such high demand. Everyone is trying to get a piece of the action, and the truth is that there are high startup costs and technical difficulties to get a Proof of Work mining operation up and running.
With this overview in mind, we see that this is a great way to grow your wealth in cryptocurrency and diversifies your strategy to be less reliant on the price appreciation of your crypto holdings.
Buyer Beware: Higher Reward = Higher Risk
On my quest to learn more about PoS mining, I stumbled upon some higher yielding small cap coins with mining rewards of easily over 100% per year which are very small in market capitalization.
Small cap cryptocurrencies under the $300 Million market cap level are generally considered very risky, and tend to have a lot more volatility and pump and dumpers using them.
Considering the high level of risk, now we have an expert in this space who put out a book on the subject: Junsun Chan.
How to Mine Bigly for 200-808% Annual Returns on just a Laptop
In his book (available on Amazon) Junsun outlines a system for mining high-yield PoS coins for profit with just a laptop and a little bit of electricity.
The book quickly drives into the concept of mining as printing money out of thin air.
When you hold Proof of Stake coins that generate more coins of themselves, and you take a portion of those coins to an open exchange like Binance or Kucoin to trade them for Bitcoin, you are essentially printing money, like central banks do with fait. The coins you mine can be exchanged directly for fiat currency like US dollars on Coinbase.
What do you need to get started?
Very little is required. All you need to get started are things you probably already have!
1. A computer or laptop with operating systems Mac OS, Windows 7, Windows 8+ vista (recommended), or Windows 10 (PRIMARY recommendation)
2. Internet connection
3. Seed money of about $50 or less to buy bitcoin and start mining. You can use less cash but bear in mind results will take longer to be realized.
Three High-Yield PoS coins that will put power of the Central Bank in your computer
1) 808Coin pays an 808% annual staking reward
2) Sprouts pays a 200% annual staking reward
3) Condensate (RAIN) pays a high but randomized staking reward
- My RAIN generated +7% rain in just 12 days, which is around 200% annualized
The first two coins, 808 and Sprouts are Junsun Chan’s top 2 recommendations. Junsun goes deep into explaining how these coins work in his book you can buy here.
The third coin on the list, Condensate (RAIN) is another one I came across, and seems to have more going for it in terms of a long-term purpose other than making people money.
The aim of Rain is to create a secure and robust network that is supported by its users in a meaningful way. To make it figuratively and literally rain on the community, and to utilize this network to partner with climate researchers and scientists to help better understand the world that we all live in.
Breaking down the benefits to using this PoS mining strategy
1. Never have to talk or interact with anyone. This is all automatic with a one time setup on your computer to start mining. No sales work! Hooray!
2. No need to invest in any hyip scam of any kind or 3rd party “cloud mining solution” that turns out to be another scam.
3. You control 100% fully all the money and coins in your wallet.
4. You gain the power of central banking and literally print money out of thin air. This is the miracle of bitcoin altcoin mining and I TEACH YOU its SECRETS.
5. EARN UNHEARD OF 200%-808% annual returns! This is NOT a typo! And the insane part is you can do this for less than $5 a month in electricity costs; I live in New York City and its expensive but power costs to mine costs this little to me.
6. The 6 compound/withdraw strategies that you can use to grow your bitcoin mining operation while withdrawing profits reasonably. Breaking even has never been easier for you!
7. Written primarily for poor people in mind, I am an unemployed actor and had to scrounge for money. This will be a god send for anyone needing a long term money making solution that they can start using TODAY to plug their financial woes.
8. Gain the knowledge of traditional central banking so you can understand that what you’re mining bitcoin-altcoins for is just the foundation of something much greater and freer.
9. Persuasion “hacks” that were learned and mastered from psychology masters such as Mike Cernovich (Gorilla Mindset) and Scott Adams of Dilbert fame. Emotional control over yourself will help you and all crypto currency adopters for the coming fight ahead to ban and restrict bitcoin.
Once you’re set up, you won’t have to invest any more money (if you don’t want to) or effort after the initial set up. You can start as low as $50 (my minimum recommended). In fact, I encourage to start off slow and small so you can learn how crypto currencies work and when the bitcoin is flowing into your wallets, then you can “ramp up” if you choose for MORE profits!
If you choose to invest and mine any of these PoS cryptocurrencies, remember to DYOR (Do Your Own Research) and that this is not financial advice. Hold on for dear life.