Staking concerns.

[Anonymous No.52742401]

It honestly terrifies me signing a contract on my cold storage ledger that I haven't touched in years. It has over 60k on it and I have never connected my Ledger to anything else other than the desktop app itself. Is the process that easy? I shouldn't be worried right?

From what I gather there's a WalletConnect button and it's all relatively simple... Are my fears warranted, I just never trust this shit and especially after hearing so many people over the last few years having their shit stolen from bad contracts I just can't trust anything. Can someone calm my worries?

[Anonymous No.52742411]

No. Don't stake please. Preferably you'll also sell.

[Anonymous No.52742425]

>>52742401
trust your gut, anon

[Anonymous No.52742432]

I'm really concerned and fearful and uncertain and doubtful

[Anonymous No.52742448]

>>52742401
IF you want to stake the 7K, the best move is to keep 7k LINK in the current wallet and stake from there, and generate a new cold storage wallet and move theremaining LINK to that new one where it will remain untouched and in cold storage and away from teh staking contract so you'll be saef thank you

[Anonymous No.52742453]

>>52742432
I see you have also been looking at the price action.

[Anonymous No.52742458]

>>52742401
Bruh it's just a pool contract. There's nothing to exploit.

[Anonymous No.52742487]

>>52742401
>fucks up every product release since 2019
>times every release and news worse than the one before
>self fund making shorting the only rational option
you realize, you are one of less than 12K retards still holding a signifcant amount of link

[Anonymous No.52742494]

>>52742401
you need to take ur meds fren, maybe up your lithium dose?

[Anonymous No.52742498]

>>52742458
Yeah I'm just entirely not familiar with any of this so I sound like a complete brainlet. What happens after I connect my Ledger through WalletConnect?

>>52742448
Even that fucking terrifies me kek.

[Anonymous No.52742500]

>>52742448
i did this

[Anonymous No.52742512]

>>52742401
dude, get your shit in order. you have 60k link and you don't have a dedicated, air-gapped PC or tablet to use for your txs? plug that shit into a computer you're confident isn't supremely compromised (though it doesn't matter too much, as your ledger handles the vast majority of your security), make sure the firmware on the ledger is up to date, make sure metamask can connect to it, and just be ready to push the button when the time comes.

look, if they actually fuck this up (they won't, they never do), then your link will be worth nothing anyway. this was always the plan, these were always the risks, you were just never staring at them in the face before. everything's gonna be fine as long as you don't make the cardinal sin of compromising your keys. the staking rewards even come from emissions in this beta version -- no slashing at all (except for any node found to be in error, and even then it's only their rewards that get slashed). this is about as low-risk staking as it gets

[Anonymous No.52742585]

>>52742401
the person you are replying to holds more link than you ever will

[Anonymous No.52742589]

>>52742512
this anon is speaking facts and we should be thankful he posted this

[Anonymous No.52742616]

>>52742512
Thanks man I honestly appreciate this. Is there a reason you prefer going through Metamask vs the WalletConnect? I just assumed the lather was much easier. I do have my security locked down so that's not the worry it's just that crypto anxiety pressing any transaction and I've just always had this ledger solely interact with only Ledger Live so I just assume everything else I sign is out to get me and it makes me paranoid as shit since I don't know how to read the smart contract of which I'm sending my shit off to.

[Anonymous No.52742672]

>>52742498
You can connect through metamask as well. Basically your ledger shares your public address with the software wallet. Your keys never leave your ledger. If you want to sign a transaction your ledger must be plugged in and you sign from the ledger. You can always revoke permissions as well. You are right to be weary. I would never connect my hardware wallet to anything even semi risky.

[Anonymous No.52742671]

>>52742616
i just got my second ledger where i sent half of my stack
Left the needed 7k + some extra in my og ledger
I suggest you play around a little with your wallet just to get familiar with it

[Anonymous No.52742776]

>>52742616
what >>52742448 said is really good advice, though I doubt it's even necessary. but if you want to be extra cautious, then move the tokens you're not planning on staking out of the wallet that's eligible to stake just in case there's some unforeseen vulnerability in the staking contract (there won't be).

i have no experience with walletconnect, i've only ever used MEW and then metamask. I find metamask to be pretty intuitive, but i believe both are supported by the stake.link (i forget what they said about it in the blog posts).

i totally get your paranoia, as this whole space is still the wild west. just make sure everything you use is open sourced, and you're probably as safe as you can get. wildely-used open-sourced code tends to get scrutinized pretty heavily over time, which means they tend to be pretty safe. everything you connect to is based on the private keys in your hardware wallet, which never actually leaves the device. only signed txs ever get transmitted thanks to hardcoded logic in the hardware of the device, and the only way you can get fucked without making the ledger display the key and proceeding to type that key into your computer (never ever do this) is if you accidentally sign a tx that you didn't mean to sign, both of which would just be your own fault. the cryptography has never failed anyone in the whole space -- every exploit ever was on a level above your public/private keys. trust the numbers, and nothing else. well, trust sergs too for the time being, i suppose.

[Anonymous No.52742802]

>>52742776
>stake.link
sorry, i meant staking.chain.link

[Anonymous No.52742883]

>>52742802
Hello my fellow LPL holder

[Anonymous No.52742943]

>>52742883
kek, i was late to the game. only managed to grab .72 LP, but i'm just happy I got any. i shit you not, one night i was laying in bed and i decided i was gonna commit and buy several LP when i woke up the next morning, and by the morning some fucker cleared the entire order book up to several times the price it was the night before.

[Anonymous No.52742962]

>>52742776
Thanks a bunch for the reassurance brother. Will 100% use all your advice, I think at this point I'll just quit overthinking and use the WalletConnect feature, in terms of moving tokens out of the wallet are you implying to another one of my Ledger addresses? or should I use another ledger I have laying around (semi pain in the ass)
What's going to be your method of choice in all this? Are you going to be early staking? Isn't it at 12 pm est so in a half an hour?

[Anonymous No.52743075]

>>52742962
i'm sure walletconnect is fine, I've just never used it. and no, you don't need to use a different ledger, a new address on the same one will be fine. i mean, an extra layer of security would be using an entirely different one, but that entails different risks as well, such as storing a second seed phrase that could get lost/stolen. really, you'll be fine using the same ledger. in my crypto-infancy, i bought bother a trezor and a ledger and put half my stack on both, just in case there was a vulnerability found in one and not the other. seems overcautious now, but i was once in your shoes.

also, staking comes out tomorrow at 12pm est. so half an hour plus a day.

[Anonymous No.52743101]

>>52742962
12pm est tomorrow if you're eligibke for early staking. Not today