Did you stake your pal tokens or sell them?

View this answer on Musing.io

Since I'm not huge into trading, I staked my PALcoins as soon I got them. When the delegation feature came out, I lent those stake to one of my alternate accounts. Since I held PAL, I was able to receive LEO airdrops.

So, that seemed like an example where "commitment" opened the doors to more benefits. In hindsight, if I had spent a bit of time to buy low after selling my initial drop, I would have had more stake. Alas, I am lazy, so I am stuck with what I have right now.

I have debated whether I wanted to sell for short-term gains like many other Steemians. Remember, Steem has value on exchanges. All the Steem Engine tokens, while great, are not guarantees. They are internal, centralized, tokens that may or may not hold value in the future.

But of course, they are the closest things we have to represent ``communities`` right now. It warms my heart that groups like PAL and LEO set out to moderate their own front ends. They are educating and protecting their turfs from potential bad actors. How long would that zeal last? Well, we shall see.

Back to staking PAL, I plan on keeping them powered up for the short and midterm. At some point, when I decide I have enough stake, I will start selling off portions of my rewards in PAL. Of course, I will still keep powering up to gain (or retain) influence. It's not much different to how I am handling my Steem stake at the moment.

To @cryptoandcoffee's original description, yes I do think staking can be a wise option. Especially when the tokens and communities are new. At the end of the day, it all depends on what each individual value. Some rather play the long game. Some rather have gains now.

If PALcoin were to fail tomorrow, I would feel bad, but I literally didn't spend any of my resources to obtain them. So, the upsides is still greater than the potential pitfall that could befall to all SE tokens.

Until then, here's a parody of Mastering Bitcoin: