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False equivalence, why is your equivalent to staking (investing crypto) applying for a banking license rather than opening a brokerage account (investing dollar

by BbzzbB 4y ago

False equivalence, why is your equivalent to staking (investing crypto) applying for a banking license rather than opening a brokerage account (investing dollars)? With the advent of fractional shares anyone can buy $5 of stocks too, but it requires zero technical know-how.

nightski 4y ago
When you stake, you are still processing transactions and creating blocks/forming consensus similar to what mining did. This isn't really comparable to investing in a security. Just because you can join a staking pool which often takes a cut and makes it easy doesn't invalidate what is actually going on.
- BbzzbB 4y ago
  Sending $5 to a third party pool so they stake it in your stead under the promise it remains your $5 does not make you a bank. It's more like sending $5 to Robinhood so they buy $BAC in your stead under the (legally backed up) promise it remains your $5. IMO.
  - nightski 4y ago
    That’s not really staking. It’s just lending your eth to a staker which is completely different.
    - BbzzbB 4y ago
      Maybe I am misunderstanding what "staking" $5 means then, because I believe you need 32 ETH to be a validator.