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RE: Lazy mans guide: Staking your Decred (DCR).

in #decred7 years ago (edited)

A few things that were not very clear after following your guide was the actual purchase of the ticket. It is nowhere obvious here or even in the decred.org info that one must obtain at least the actual amount of DCR for the ticket price to purchase(Although this may seem obvious in and of itself, the term purchase is misleading as you are not actually purchasing as in exchanging funds for the ticket unless you win and then it seems you get some reward/interest, still not clear). In your example 50.2539 and current price of DCR 31 = $1,557.75. For a lazy rich person who is experienced in having large sums of crytpo this is a great guide lacking some detail. For a cautious layman to crypto this is lacking some basic obviousness that should be mentioned. For instance how to obtain the DCR prior to the ticket purchase, which for the most part the easiest way would be to buy bitcoin, litecoin, etherium in coinbase via credit card and then shapeshift.io to DCR. But beware the typical DCR ticket price ranges from 120+ to 37ish. So if you choose to buy a ticket at 120 at a price with DCR at $30 would be $3,600 locked up. The benefits and potential return as well as the votes and giving your votes to the pool are not addressed as well.

None the less thank you for your nice looking guide and the info. I ended up regretfully spending a few hours going down this path before realizing I was not willing to tie up a few thousand dollars staking any DCR.

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Hehe, I think I was too lazy to do that, haha!!
This is for people who know crypto and have enough money to buy the tickets.
Or "Reserve" money into tickets, (which is staking).

Thanks. I had moved money from Litecoin to DCR to attempt to by the ticket/s and had done it right at the start of the massive move up in Litecoin and was just watching as it shot up and the DCR was pretty stagnant and then realized I didn't even have enough to get the ticket... good times.

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