Are you staking PALCoins, yet?

cryptocopy (62) in palcoin • 5 years ago (edited)

View this post on Hive: Are you staking PALCoins, yet?

5 years ago by cryptocopy (62)

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steem-bounty (72) · 5 years ago

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cwow2 (65) · 5 years ago

Yes. I manage to get some Palnet coins from the drop and I staked them right away :D
I am not on steemit or in crypto for the fast buck :D

Posted using Partiko Android

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3 votes

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cryptocopy (62) · 5 years ago

That's good to hear. Staking seems like the smart move, right now. The people behind Palnet have been bringing a lot of exciting projects and developments in the blockchain that it's hard not to be optimistic about this, too.

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1 vote

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cwow2 (65) · 5 years ago

Jeps! Its the buildteam who is behind it right?

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cryptocopy (62) · 5 years ago

I think they're part of it, but it's also the guys behind the Minnow Support Project.

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cwow2 (65) · 5 years ago

Ohh buildteam is behind minnowbooster not minnow support project. I mixed them up :p

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intellihandling (63) · 5 years ago

Hi, what means stacking? I open your site and i can see from my wallet i already have 436 PAL, stacking means power up? It means if i will make a post in your site, instead of Steem i will got PAL as rewards?

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3 votes

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cryptocopy (62) · 5 years ago (edited)

Hi there! First off, Palnet.io is not my site. Its run by the people behind @minnowsupport who are made up of some of Steem's top witnesses and community leaders.

Yes, staking is the same as powering-up. So, if you stake all 436 PALCoins, you'll have 436 PAL Power, which works like STEEM Power. Of course, you can also just go to Steem-Engine.com and sell your PALCoins for STEEM, if you want.

No, using Palnet.io or staking your PAL Coins will not take away your STEEM Rewards. Palnet.io and its token is still built on top of the Steem blockchain. It doesn't replace it. It just adds to it. So, you'll get both STEEM/STEEM Power and PALCoin/PAL Power Rewards when you post in Palnet.io.

The difference is that unlike Busy.org, or Steempeak.com, or Esteem, and the other frontend apps which are essentially duplicates of the content on Steemit.com, Palnet.io only shows content that uses the 'palnet' tag. Palnet.io also has a different set of rules like its rewards structure, etc. But these only affect you when it comes to your rewards and behavior in Palnet.io, not in the rest of the Steem Blockchain.

@clayboyn actually said this best in his post about palnet

The great thing about PALnet is that we're not asking anyone to leave STEEM. We aren't forking and taking any of the community with us. Our posts will still show up on STEEM and work like normal, which means we can aim to correct the distribution problems without negatively impacting the STEEM community or expecting anyone to "give up and start over." In short, we provide an alternative token and front end that removes what many of us feel are the problems and allows for users to grow and earn stake, which ultimately allows the community to determine what content it wants to support.

So, if you post using Palnet.io or using the 'palnet' tag, it will show up in both Steemit.com (and other frontends) and in Palnet.io. It will also get rewards in the form of STEEM and PALCoins.

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intellihandling (63) · 5 years ago

Thank you for detailed information, so if palnet.io is a parallel system of Steemit, it will be the same way of levelling? I mean to become a minnow how much PAL SP is needed?

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cryptocopy (62) · 5 years ago

You're welcome. I'd imagine it will be the same. The project is started by the MinnowSupportProject, after all. So, 500 PAL Power to Minnow status in PAlnet.io. Unless the community decides to abandon the fish categories and go with something else.

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hans001 (57) · 5 years ago

Well as my latest post https://partiko.app/hans001/the-palnet-adventure?referrer=hans001 states I'm staking. But I bought some too maybe at a too high price now but down the line it will be good. Look at the whaleshares coin maybe it will be something like that.

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2 votes

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cryptocopy (62) · 5 years ago

Wow! I just read your post and you've really dived into Palnet. It's a good idea to stake all your rewards to PAL Power. And what's great is that you can change that setting in Palnet, while still keeping the 50/50 SBD/SP rewards in the Steem blockchain.

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ketcom (72) · 5 years ago

Hi @cryptocopy, very nice post you made. I actually made a post earlier today showing members how to claim the Palcoin token at Steem-Engine and I did it using the Palnet.io UI. I staked the 405 I was given because from experience I got from recently launched Steem UI's like Steemcoinpan and TripleA (popular among the Korean community) that is the best thing to do right now because it gives you more power to earn. Posting on the Palnet.io UI has already earned my post 5 Palcoin after a few hours, I hope to end more before the payout date. So, yeah, staking is probably the best thing to do right now so that you continue earning more. Cheers.

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1 vote

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cryptocopy (62) · 5 years ago

So true. Everyone is free to do what they want with the coins they get from the claim drop. But for me, staking is probably the best course of action because, as you said, it gives you better leverage and more power to earn for the long-term. I haven't done a lot of posting using Palnet.io, just his post, but I'll be posting more using their tag, moving forward.

Thanks for stopping by!

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akomoajong (66) · 5 years ago

I haven't stake any yet as I'm currently doing trades with it (on Steem engine) and try to multiply it :)

#buylowsellhigh

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1 vote

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disizsarg3 (42) · 5 years ago

I'll be connecting myself to this and saving up some PALCoin. Anything that adds up to some bigger cash outs in the long run is something I'd like to get involved with!

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1 vote

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fredkese (69) · 5 years ago

I've staked a little over 300 Palcoins and I wish I could afford to buy a lot of them. I believe it's great to hold on to them. Nobody knows the future.

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1 vote

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steemitcuration (67) · 5 years ago

Defo staking pointless for me to sell at the minute trying to buy as many as i canas people dump

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2 votes

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cryptocopy (62) · 5 years ago

Yeah, I saw that too. So many dumped their coins in Steem-Engine after receiving them. The prices are moving up again, though. I guess most users have stopped selling?

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chireerocks (72) · 5 years ago

@cryptocopy, I've staked 50% of my Pal Coins and hope that this project will get more adoption and in my opinion this is first project which really showcased what's the importance of holding Steem Power.

_{This comment was made from https://ulogs.org}

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1 vote

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cryptocopy (62) · 5 years ago

Cool! Me, I'm working my way towards getting 500 PAL Power first. Until then, I'll be staking as much as I can.

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chireerocks (72) · 5 years ago

Hope that soon you will going to attain this number. Stay blessed.

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rezoanulvibes (75) · 5 years ago

Yes, Palnet.io looks like a Steemit in the early days. Just keep learning about this new opportunity. Thank you @cryptocopy for sharing.

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1 vote

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cryptocopy (62) · 5 years ago

Your welcome. There has been so many new developments in the Steem blockchain over the past few weeks alone. And the interesting part is that most of these developments have been community driven. It's exciting times for the Steem communities!

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d-zero (68) · 5 years ago

Hell YES!!!
I got 323 PAL and I've been staking all of them ever since. I'm gonna be HODLing these for years to come. But I'm not sure if I'd buy any. I'll just keep posting and earning. Happy to see all the developments. Huge thanks to @aggroed and rest of the team!

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1 vote

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cryptocopy (62) · 5 years ago

Good to hear! For me, one of the good things about Palnet.io is that it is still easier earn their tokens just by posting and commenting. People over there, especially the ones with a lot of PAL Power, are actively upvoting the posts and comments that they like. So it's not necessary to buy to grow your stake.

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1 vote

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jacuzzi (70) · 5 years ago

I am going to be holding mine for the time being! Its a good idea and I am excited to see where they go.

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1 vote

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cryptocopy (62) · 5 years ago

Yeah, its an exciting project with a lot of potential, and backed by a group of prominent Steemians. I agree it's a good idea to hold on to them, for now.