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Things which prevent me personally from buying ether to stake it: - The official entrypoint for staking is a very large, complex manual on a website. It asks y
by eMGm4D0zgUAVXc7 5y ago
Things which prevent me personally from buying ether to stake it:
- The official entrypoint for staking is a very large, complex manual on a website. It asks you to set up various different software systems, in a server-admin-esque fashion with a shell frontend etc. I would have rather expected a large "DOWNLOAD STAKING SOFTWARE" button which yields a GUI app with a "Stake" button. With the large kind of money involved of at least 32 ETH (to do it without relying on a middleman which could steal from me) I do not want to go through the hassle of potentially making mistakes in complex shell scripting operations.
- The guide says that you need external software to stake, it is not apparent which one is official. They offer 4 different implementations to chose from. As someone who does not have the time to dig deep into the ecosystem I would rather have wanted them to offer ONE official solution which works.
- If you do click through the large manual, at the end it asks you to upload a file to the website. I thought Ethereum intended to be decentralized, and I do not wish to support centralizing core network features.
- Semi issue: It is hinted at but not clear enough at which conditions staking is a risk of theft because the ETH is constantly online. I would only stake if theft was 100% impossible even if all involved online machines are compromised. Their docs sound like that is possible, but it should be explained more explicitly right away, you shouldn't have to search for it.
Source: https://launchpad.ethereum.org/ https://launchpad.ethereum.org/
- andrewfromx 5y agothis is a great explanation of ETH2.0 problems. I've dived into ADA instead https://www.coincashew.com/coins/overview-ada/guide-how-to-build-a-haskell-stakepool-node https://www.coincashew.com/coins/overview-ada/guide-how-to-b... and so far it feels great. Like free money to just set a server up like this.
- eMGm4D0zgUAVXc7 5y agoThanks :) Feel free to share it wherever you like to.
- andrewfromx 5y agonice, I made it a link about ETH2.0 stake in this article https://andrewarrow.substack.com/p/in-order-to-bank-in-the-modern-era https://andrewarrow.substack.com/p/in-order-to-bank-in-the-m...