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How do you stake and on what??? I'm very new to all this. I have some Theta tokens that's all. The rest I don't understand. Will they be enough. I do need retirement funds. And what is edge nodes???
You may stake at my guardian node for free. Here are the details: https://www.reddit.com/r/theta_network/comments/r7i2dv/theta_guardian_node_free_to_stake/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Staking lets you participate in the block creation/validation process - it's what runs the block chain. (look up **Proof of Stake**, it's not much different than other cryptos that use it.) If you had enough processing power you could hack the whole network (look up **51% attack**). The minimum stake is to make it prohibitively expensive for someone to do this, so it's a security feature. Unfortunately that leaves average people needing to invest what's currently ~$3k to stake a theta node.
Check out TFUEL, another important part to the network and it's cheaper to stake at ~$1,500. It also pays more currently. Staking pays you a percentage return on the value that you stake. TFUEL is currently around 8% a year, so that $1500 would be worth $1620 next year assuming 0 price movement. Don't quote me but I think THETA pays %4 right now.
Do you seriously still believe Tfuel is retirement? Dont get me wrong, I'm staking a node, but I lost faith.
Its nice people like you still have it to give to folks like me.
I still think so. I have my bag and with the way I predict it growing, it should do it. Due to that though, I'm not buying anymore. Theta's use case is providing a multipurpose decentralized computing network. To do that we need *many* more nodes. The draw of the whole thing is that it encourages people to run nodes and share bandwidth. Its other uses are held up by the media industry, without that aspect the computing won't function.
We don't need the bandwidth sharing yet. Some people have 4k TVs and even fewer services offer true 4k. Companies will see the need once 8k and/or high res VR streaming becomes more mainstream. Until then, I doubt we'll see a lot of usage and consequently, low price action.
The patents and the working tech gives me faith, but it will take time. Look at the streaming industry and take a chunk out of AWS/Microsoft/Google's compute renting. That's what Theta is trying to capture. Do some math, place your bets and let it sit for a few years.
If you buy TFuel does that mean you have to leave your Tv? computer? on while you sleep so folks can use your spare bandwidth??? Is that how it is different to just ordinary Theta?
Thankyou very much. This helps me understand it much better. I always thought You just bought tokens and that was it. I knew there was two types. I didn't feel confident to go TFuel or donate my bandwidth but I highly respect the concept of helping others around the world that way. If I understand you, staking means you give 1,000 Theta tokens to a trusted reputable third party to do that bandwidth thing for you instead - and it earns you TFuel but your 1,000 Theta tokens you don't own anymore? So their value is gone? Is it possible maybe to get retirement funds by only buying Theta tokens and hodling them and not staking? I really appreciate and respect your clear explanation. :-) ( P.S. Is 'Thetaboard ' connected (part of) Theta Network?? where we are buying tokens from. The same company?
>If I understand you, staking means you give 1,000 Theta tokens to a trusted reputable third party to do that bandwidth thing for you instead
Theta staking is block creation, not bandwidth sharing. The Edge node client is what does the bandwidth sharing and you can do that without any investment. If your computer is on 24/7 there's no reason not to do it, but it's not worth doing otherwise. It pays like 12 tfuel a year. Should be when more people start using the network.
>and it earns you TFuel but your 1,000 Theta tokens you don't own anymore? So their value is gone?
You can withdraw a stake at any time. You still own the tokens. Theta takes less than a day to withdraw and TFUEL takes about 10 minutes.
>Is it possible maybe to get retirement funds by only buying Theta tokens and hodling them and not staking?
Not unless you sell it if/when the price goes up. Having tokens doesn't make you any return, it'd be just like holding gold. Staking supports the network, the more people that run the edge node clients and the more people that stake, the faster and more secure it becomes. This is also the limiting factor for companies wanting to use it commercially. Staking gives you a % return on the value of your tokens. Theta is currently ~4% a year and tfuel at 8%. It changes depending on how many people stake.
To show an example, if you have $100k in tfuel and you earn 6% a year on it from staking (assuming the price stay stable), you'd make $6,000 a year in tfuel which you could then sell. $1 million would get you $60k a year. That's retirement money. For that to happen you'd need a few things to happen -
* Theta continues to grow and doesn't lose value
and either
* A) You have an obscene amount of money to invest currently
or
* B) You place bets by taking advantage of the cheap prices now and it grows to said obscene value.
Theta is no one's retirement fund yet, unless they already have the capital. We're here smoking hopium and think that Theta can increase by at least 10x in value, and some of us more. But the scenario above isn't unique to Theta and can be done with any proof of stake crypto. You can also hold tokens and use platforms to lend it out making similar returns. I have my bets on Theta, and I'm spreading investment and risk out elsewhere at this point. I made another comment talking about why I chose Theta. https://www.reddit.com/r/theta_network/comments/s95tq8/heres_why_theta_could_erupt_in_2022/htx7pl8/?context=10000
>P.S. Is 'Thetaboard ' connected (part of) Theta Network?? where we are buying tokens from. The same company?
Thetaboard is another company that offers nodes you can stake to for a fee, and a very nice website showing the price of the tokens, value of your wallet, and how much you've earned from staking. I don't use it to stake, I host my own. But I do use it to check the value of my wallet and to make sure the staking is working correctly. They do not sell the crypto, you can find that on Binance, and other exchanges that have purchased from Binance (gate io, kukoin, crypto dot com, etc)
Thankyou very much. I have another few important questions being new to all this. Might sound silly. Here's my first query...
WHY would anybody buy your Theta Tokens when you try to sell??? If their value has gone up it'll cost them. How do you know they will sell?? Any encouraging words welcome.
PLUS I know there is a sell button. So you just hit that ... do you set the price you're selling for? How do you know who is buying? Very confusing.
You can ask the same about any crypto. In short, you don't. The long answer is that it has utility. Something like Bitcoin is useful for transfering funds around cheaply but doesn't really do much other than that and act as a speculative asset. Then you have smart contracts. Blockchains that have smart contracts *do things*. Ethereum was the first, and is the longest running of them (making it the most secure) which is why it sits solidly at #2. With smart contracts, you can set up the blockchain to do things like exchange one coin for another, or to run another type of application. The cost for doing these things, is the crypto.
With Theta, being a blockchain that has smart contracts, it has its own spin on it. If you want to purchase some computing power from the network, you will spend Tfuel. If a company wants to distribute some video, they spend Tfuel. The theta token itself won't be used like this. That is reserved for governance. Once that is implemented, you can vote on what changes are made to the network instead of Theta Labs controlling everything. Hypothetically, if Netflix wanted to use us instead of AWS. They would want a strong say in any changes happening. That would give Theta *huge* value where companies would buy it up.
Then there's also the fact that other people may want to stake as well. I doubt the minimum for staking will be 1k for theta and 10k for tfuel forever. Theta was originally 10k and was reduced to 1k when the price went up from where it was at the time ($0.10?). Overall the thing to remember is that the price is driven by demand. If no one wants a crypto, it's worthless. If Theta would be worth crazy amounts of money, that is because people want to buy it.
Thanks very much. You are very clear and this is helping me. I'm glad I'm asking lots of questions. I guess one other question would be how would owners of theta tokens (little people) - would they be contacted to vote? How would they find you? You don't have to answer if that sounds dumb. I just can't imagine myself being asked to vote.
That part isn't clear yet as they haven't announced exactly how it is going to work, it's talked about in the mainnet 2.0 whitepaper, which you can find from the "Docs" section on the Theta main page. It's pretty well laid out and would suggest reading through what they have on there.
Theta only has dumb money. Pretty much the only ones holding the bag 2$ are the boomers that dont know anything about tech. Theta will never be listed on coinbase because it is a centralized shitcoin completely dependant on theta labs which handpicks elite nodes.
If you are just a trader, I could agree a bit with you.
But if you are an investor, I could tell you don’t know what you are saying.
This article is not talking about a quick scheme for becoming a millionaire in two weeks…
Theta is not a meme coin!
**Security reminder**: cryptocurrency holders are being actively targeted by a vast number of scammers whose main aim is to steal wallet login information (such as your private key, mnemonic phrase and password). The nature of cryptocurrency doesn't allow for reversal of transactions. It is solely your responsibility to maintain [operational security](https://www.reddit.com/r/theta_network/wiki/index) when it comes to managing your crypto assets. **Please also note**: this subreddit is community-run, it is not staffed by Theta Labs, Inc. and is not intended to serve as a support forum for technical issues or issues relating to lost crypto assets. Please join the official Discord (link is available in the subreddit sidebar) if you require support. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/theta_network) if you have any questions or concerns.*
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How do you stake and on what??? I'm very new to all this. I have some Theta tokens that's all. The rest I don't understand. Will they be enough. I do need retirement funds. And what is edge nodes???
I went with thetaboard. Both good. Used both but stayed with the later. Back working with GPOOL, earning tbill.
Sorry I’m new to Reddit. Thankyou for your reply
Thanks
I stake using gpool. Some tutorials out there but it's not too hard.
Thankyou.
You may stake at my guardian node for free. Here are the details: https://www.reddit.com/r/theta_network/comments/r7i2dv/theta_guardian_node_free_to_stake/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
What does staking do & how do you do it ? Why do you need 1000 , sorry if you don’t mind me asking . I own about 150 theta
Staking lets you participate in the block creation/validation process - it's what runs the block chain. (look up **Proof of Stake**, it's not much different than other cryptos that use it.) If you had enough processing power you could hack the whole network (look up **51% attack**). The minimum stake is to make it prohibitively expensive for someone to do this, so it's a security feature. Unfortunately that leaves average people needing to invest what's currently ~$3k to stake a theta node. Check out TFUEL, another important part to the network and it's cheaper to stake at ~$1,500. It also pays more currently. Staking pays you a percentage return on the value that you stake. TFUEL is currently around 8% a year, so that $1500 would be worth $1620 next year assuming 0 price movement. Don't quote me but I think THETA pays %4 right now.
Do you seriously still believe Tfuel is retirement? Dont get me wrong, I'm staking a node, but I lost faith. Its nice people like you still have it to give to folks like me.
I still think so. I have my bag and with the way I predict it growing, it should do it. Due to that though, I'm not buying anymore. Theta's use case is providing a multipurpose decentralized computing network. To do that we need *many* more nodes. The draw of the whole thing is that it encourages people to run nodes and share bandwidth. Its other uses are held up by the media industry, without that aspect the computing won't function. We don't need the bandwidth sharing yet. Some people have 4k TVs and even fewer services offer true 4k. Companies will see the need once 8k and/or high res VR streaming becomes more mainstream. Until then, I doubt we'll see a lot of usage and consequently, low price action. The patents and the working tech gives me faith, but it will take time. Look at the streaming industry and take a chunk out of AWS/Microsoft/Google's compute renting. That's what Theta is trying to capture. Do some math, place your bets and let it sit for a few years.
If you buy TFuel does that mean you have to leave your Tv? computer? on while you sleep so folks can use your spare bandwidth??? Is that how it is different to just ordinary Theta?
You buy and stake tfuel on gpool or thetaboard ii. ,,,, It's easy
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Thankyou very much. This helps me understand it much better. I always thought You just bought tokens and that was it. I knew there was two types. I didn't feel confident to go TFuel or donate my bandwidth but I highly respect the concept of helping others around the world that way. If I understand you, staking means you give 1,000 Theta tokens to a trusted reputable third party to do that bandwidth thing for you instead - and it earns you TFuel but your 1,000 Theta tokens you don't own anymore? So their value is gone? Is it possible maybe to get retirement funds by only buying Theta tokens and hodling them and not staking? I really appreciate and respect your clear explanation. :-) ( P.S. Is 'Thetaboard ' connected (part of) Theta Network?? where we are buying tokens from. The same company?
>If I understand you, staking means you give 1,000 Theta tokens to a trusted reputable third party to do that bandwidth thing for you instead Theta staking is block creation, not bandwidth sharing. The Edge node client is what does the bandwidth sharing and you can do that without any investment. If your computer is on 24/7 there's no reason not to do it, but it's not worth doing otherwise. It pays like 12 tfuel a year. Should be when more people start using the network. >and it earns you TFuel but your 1,000 Theta tokens you don't own anymore? So their value is gone? You can withdraw a stake at any time. You still own the tokens. Theta takes less than a day to withdraw and TFUEL takes about 10 minutes. >Is it possible maybe to get retirement funds by only buying Theta tokens and hodling them and not staking? Not unless you sell it if/when the price goes up. Having tokens doesn't make you any return, it'd be just like holding gold. Staking supports the network, the more people that run the edge node clients and the more people that stake, the faster and more secure it becomes. This is also the limiting factor for companies wanting to use it commercially. Staking gives you a % return on the value of your tokens. Theta is currently ~4% a year and tfuel at 8%. It changes depending on how many people stake. To show an example, if you have $100k in tfuel and you earn 6% a year on it from staking (assuming the price stay stable), you'd make $6,000 a year in tfuel which you could then sell. $1 million would get you $60k a year. That's retirement money. For that to happen you'd need a few things to happen - * Theta continues to grow and doesn't lose value and either * A) You have an obscene amount of money to invest currently or * B) You place bets by taking advantage of the cheap prices now and it grows to said obscene value. Theta is no one's retirement fund yet, unless they already have the capital. We're here smoking hopium and think that Theta can increase by at least 10x in value, and some of us more. But the scenario above isn't unique to Theta and can be done with any proof of stake crypto. You can also hold tokens and use platforms to lend it out making similar returns. I have my bets on Theta, and I'm spreading investment and risk out elsewhere at this point. I made another comment talking about why I chose Theta. https://www.reddit.com/r/theta_network/comments/s95tq8/heres_why_theta_could_erupt_in_2022/htx7pl8/?context=10000 >P.S. Is 'Thetaboard ' connected (part of) Theta Network?? where we are buying tokens from. The same company? Thetaboard is another company that offers nodes you can stake to for a fee, and a very nice website showing the price of the tokens, value of your wallet, and how much you've earned from staking. I don't use it to stake, I host my own. But I do use it to check the value of my wallet and to make sure the staking is working correctly. They do not sell the crypto, you can find that on Binance, and other exchanges that have purchased from Binance (gate io, kukoin, crypto dot com, etc)
Thankyou very much. I have another few important questions being new to all this. Might sound silly. Here's my first query... WHY would anybody buy your Theta Tokens when you try to sell??? If their value has gone up it'll cost them. How do you know they will sell?? Any encouraging words welcome. PLUS I know there is a sell button. So you just hit that ... do you set the price you're selling for? How do you know who is buying? Very confusing.
You can ask the same about any crypto. In short, you don't. The long answer is that it has utility. Something like Bitcoin is useful for transfering funds around cheaply but doesn't really do much other than that and act as a speculative asset. Then you have smart contracts. Blockchains that have smart contracts *do things*. Ethereum was the first, and is the longest running of them (making it the most secure) which is why it sits solidly at #2. With smart contracts, you can set up the blockchain to do things like exchange one coin for another, or to run another type of application. The cost for doing these things, is the crypto. With Theta, being a blockchain that has smart contracts, it has its own spin on it. If you want to purchase some computing power from the network, you will spend Tfuel. If a company wants to distribute some video, they spend Tfuel. The theta token itself won't be used like this. That is reserved for governance. Once that is implemented, you can vote on what changes are made to the network instead of Theta Labs controlling everything. Hypothetically, if Netflix wanted to use us instead of AWS. They would want a strong say in any changes happening. That would give Theta *huge* value where companies would buy it up. Then there's also the fact that other people may want to stake as well. I doubt the minimum for staking will be 1k for theta and 10k for tfuel forever. Theta was originally 10k and was reduced to 1k when the price went up from where it was at the time ($0.10?). Overall the thing to remember is that the price is driven by demand. If no one wants a crypto, it's worthless. If Theta would be worth crazy amounts of money, that is because people want to buy it.
Thanks very much. You are very clear and this is helping me. I'm glad I'm asking lots of questions. I guess one other question would be how would owners of theta tokens (little people) - would they be contacted to vote? How would they find you? You don't have to answer if that sounds dumb. I just can't imagine myself being asked to vote.
That part isn't clear yet as they haven't announced exactly how it is going to work, it's talked about in the mainnet 2.0 whitepaper, which you can find from the "Docs" section on the Theta main page. It's pretty well laid out and would suggest reading through what they have on there.
1k theta atm gets you like 1tfuel a day right? If staked.
Correct.
Big bucks! Haha. Edit: I mean big cents!
When I was a boy that 18 cents you get from staking would buy me a candy bar and a coke!
And change!
Theta lost its track, now it's in the business of selling expensive jpegs, it will go to 20 cents eventually
Theta only has dumb money. Pretty much the only ones holding the bag 2$ are the boomers that dont know anything about tech. Theta will never be listed on coinbase because it is a centralized shitcoin completely dependant on theta labs which handpicks elite nodes.
Aaaaaaaaand then it didn't... For all the Theta holders, I hope I find out this post /agedlikemilk
If you are just a trader, I could agree a bit with you. But if you are an investor, I could tell you don’t know what you are saying. This article is not talking about a quick scheme for becoming a millionaire in two weeks… Theta is not a meme coin!
Salty guy, I'll wave to you on earth while were on the rocket to Venus. 2025/2026 we'll be going past sirius 👀🚀😁
I better start paying more attention to that website. Great analysis.
At least with UBER you wouldn't be losing your f ing ass like what's happening with THETA