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22038432 No.22038432 [Reply] [Original]

can i retire by staking 20k worth of Lition every month?

>> No.22038751

>>22038432
does staking even work? i finished a 3 month stake in august amd it says zeo accrued rewards and wants to chatge me $30 to withdraw

>> No.22038954

>>22038751
Lolllllll

>> No.22039371

>>22038751
kek

>> No.22039456

>>22038432
I would argue yes as long as you hold onto it for 5 years and you stake it annually, not monthly

>> No.22039464

>>22038751
Sounds about right

>> No.22039478

>>22038751
>does staking even work?
Yes it does. You're just an idiot. The rewards are there.
>wants to chatge me $30 to withdraw
That doesn't have anything to do with Lition but with ETH gas fees. This is basic stuff.

>> No.22039490

>>22039456
but Lition offers 20% for only a month

>> No.22039530

>>22038751
fucking kek

>> No.22039645

>>22039490
I have no idea why people continue to misinterpret this. The 1.2, 1.4, 1.6 and 1.8 figures are multipliers of the rewards you would normally get if you ran a regular node. You obviously don't get 20% a month.

>> No.22039654

>>22038751

Thanks for playing sir

>> No.22039677

>>22039645
number up

seriously though, i don't understand what you're saying.

>> No.22039816

>>22039645
ok I get you, so your rewards are multiplied by that much. so you'd need to stake a really huge amount to getting anywhere close to something you could live on, or just stake for an entire year. wouldn't it be better just to earn some interest on compound or something?

>> No.22039866

>>22039677
Let's just say that you stake your tokens by running a regular node and get 10% per year. You might instead decide to lock up your tokens in the staking pool for a month at a time for the entire year. This would means that you would get 1.2x as much as you normally would in return which would be 12% for the entire year and therefore 1% per month. I don't see what's so confusing.

>> No.22039898

>>22039816
>wouldn't it be better just to earn some interest on compound or something?
I'm not sure what you're talking about. You mean by putting your money in the bank? Obviously not.

>> No.22039976

>>22039866
> I don't see what's so confusing.
I just haven't really looked into nodes or even running one. I didn't realise 10% was the standard staking reward but yeah, I'm with you now.

>>22039898
I forget the name but there's some company that pays you interest for keeping your crypto on there and they have their own .comp versions of popular cryptocurrencies. again, haven't looked into it as i'm still poor

>> No.22040149

>>22039976
>I didn't realise 10% was the standard staking reward
It's not it's just a number I used for easy maths. In fact at the moment the staking rewards are twice that high, but of course they won't be like this forever.

>I forget the name but there's some company that pays you interest for keeping your crypto
It depends entirely on rates. If the interest rate is higher than the staking rewards then obviously it would make more sense to loan it out. At the moment there's no service that does this with Lition, and I'm sure they wouldn't be able to match the current staking rewards.

>> No.22040163

>>22038751
LOL

>> No.22040182

>>22038751
ngmi

>> No.22040289

>>22040149
still sounds pretty good to me. do you need to do much if i stake i.e. can i forget about it

>> No.22040329

>>22040289
Yeah you can completely forget about it if you stake in the pool. If you run a node you'll need to ensure that your computer constantly stays connected.

>> No.22041032

>>22038432
>>22038751
fpbp