What do you think about BTC staking ?

[bayu7adi]

This is where newbies make mistakes sometimes trying to go all in on a meme coin when they don't have proper information about it other than just hype on platforms like X.

That's a nightmare...newbies think that something that has a big opportunity is something that must be done immediately... whereas the risk of memecoin is very big, and rather than many people getting rich from memecoin, there are actually more people who lose from memecoin... it's just that the publicity is not as much as the people who succeed....

One of the most dangerous things is people who choose to jump into memecoin when they first get to know crypto... sooner or later they will run out of money when they make just one mistake...

[Amphenomenon]

This is where newbies make mistakes sometimes trying to go all in on a meme coin when they don't have proper information about it other than just hype on platforms like X.

That's a nightmare...newbies think that something that has a big opportunity is something that must be done immediately... whereas the risk of memecoin is very big, and rather than many people getting rich from memecoin, there are actually more people who lose from memecoin... it's just that the publicity is not as much as the people who succeed....
One of the most dangerous things is people who choose to jump into memecoin when they first get to know crypto... sooner or later they will run out of money when they make just one mistake...

Quick money blur rationality that often cause  regrets and bankruptcy in the long run. The project team and promoters majorly care about they making their money and nothing more. When the investors complain about it, promoters can speak of the fact that these investors ought to have known fully about the risk of meme coin investments.

This are ways many become enlightened, although I'm not ignoring the fact that some might tagged all cryptocurrency including Bitcoin bad  after that but unfortunately just to ignorant to see the difference.
 

[Alone055]

I'm not ignoring the fact that some might tagged all cryptocurrency including Bitcoin bad  after that but unfortunately just to ignorant to see the difference.

A lack of knowledge = ignorance.

It's a usual case where newbies who enter this space tend to have no knowledge, so they can be considered ignorant, but what they do is what proves that they are actually ignorant and not only ignorant about this space. Instead of trying to learn the ways of this industry, they start chasing profits. I don't know why some people think they can make money from somewhere without even knowing about what they are getting into. Can you become a doctor without having a medical education? No, you can't; similarly, you can't become a profitable trader without gaining knowledge about it.

So, newbies need to use their brains and try to gain some knowledge before they start making investments or trading because even if they manage to get some profit initially, they are soon going to lose more than what they gained.

[Faisal2202]

Those altcoins are kinda scary to invest in , in my own opinion. What happens if such a token dumps all of a sudden or for example the project fails. We've seen a lot of cases where projects like this all of a sudden crash and then all your coins become worthless.

Sometimes some of them will end up to be scams and at the end of the day you've just been buying some coins for some hacker sitting and they scamming others.

I understood your point here, as recently the 5.4 billion rug pull from Mantra has made us clear again that, in crypto space anything can happen therefore we should keep it mind that at some point, this alt can also do the same although IMO that cant be the case with Sol, BNB etc.

Because they are in the market from long time, they have achieved bigger things so if these will dump like mantra then the whole market could dump too. We should not stake all of our money in one coin to avoid huge lose if anything like this happens.

[Amphenomenon]

So, newbies need to use their brains and try to gain some knowledge before they start making investments or trading because even if they manage to get some profit initially, they are soon going to lose more than what they gained.

This is an actual fact about everything, majority of the newbies want to get the biggest ROI in a short period of time, having little to no risk management that is actually helping them. This is simply because majority ignore the most important factor for every investment which is DYOR from the right site, people or platforms, thereby gaining the right knowledge to venture into any investment and avoid risk of losing their money.

[Report]

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I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token.
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As far as I know, WBTC is a token that is equated with the original Bitcoin, I also checked the information on Coinmarketcap stating that WBTC runs on the Ethereum blockchain.
Please check this one : https://coinmarketcap.com/currencies/wrapped-bitcoin/
Judging from the funds collected in WBTC, there are so many and maybe WBTC is also very popular with everyone. I'm not sure about WBTC because it's a token and there's always drama in the name of a token, it could be that the algorithm has an error and later there will be a price difference and that will be very dangerous.
In conclusion, I still choose the original Bitcoin and stay away from WBTC or pegged Bitcoin because there could be system errors and chaos.

[SPOON_MOJO]

I've heard of Bitcoin staking before but I didn't really dig into it. I think It is like a good idea to stake WBTC or BTCB and earn returns utilizing protocols like pumpBTC especially if you're already holding. It is fantastic to know that there are more applications for Bitcoin than just keeping value. I might give it a try soon but I need to examine the hazards and protocol security more.

[bayu7adi]

I've heard of Bitcoin staking before but I didn't really dig into it. I think It is like a good idea to stake WBTC or BTCB and earn returns utilizing protocols like pumpBTC especially if you're already holding. It is fantastic to know that there are more applications for Bitcoin than just keeping value. I might give it a try soon but I need to examine the hazards and protocol security more.

But unfortunately, WBTC, BTCB or pumpBTC are not Bitcoin.. some staking may offer rewards in such strange forms, and to make sure it is something legit or not, we must analyze the purpose of the staking as well... don't let us be too easy to believe in such altcoin offers and expect big profits in a short time... we don't know, which is a trap, which is real..

And I agree with you, before staking on a platform, it's better not to trust the security protocol easily, because until now some suspicious methods do look legit, by offering something sweet, there are some bad intentions behind it all...
It would be more comfortable if we stake on a well-known platform, with BTC rewards too, not altcoins...

[Ambatman]

this alt can also do the same although IMO that cant be the case with Sol, BNB etc.

Because they are in the market from long time, they have achieved bigger things so if these will dump like mantra then the whole market could dump too.

I think you have forgotten about FTX. Any of these giants can go out not excluding Ethereum.
A centralized exchange still remains one no matter how big or how long they have stayed.

We should not stake all of our money in one coin to avoid huge lose if anything like this happens.

Rather than buying another coin just add another market to your portfolio
Try a Good stock or get some shares in Real Estates Getting gold and other precious metal is an option.
Cryptocurrency isn't the only investment that exists out there, many form existed before it came to fruition.

[Gposas]

I only stake my assets which are on CEX that are sitting idle. The percentage yield used to be small though. I don't do any staking on other platforms of which I don't really have a very good idea about.

I'm not ignoring the fact that some might tagged all cryptocurrency including Bitcoin bad  after that but unfortunately just to ignorant to see the difference.

A lack of knowledge = ignorance.

It's a usual case where newbies who enter this space tend to have no knowledge, so they can be considered ignorant, but what they do is what proves that they are actually ignorant and not only ignorant about this space. Instead of trying to learn the ways of this industry, they start chasing profits. I don't know why some people think they can make money from somewhere without even knowing about what they are getting into. Can you become a doctor without having a medical education? No, you can't; similarly, you can't become a profitable trader without gaining knowledge about it.

So, newbies need to use their brains and try to gain some knowledge before they start making investments or trading because even if they manage to get some profit initially, they are soon going to lose more than what they gained.

Let me point your mind to one thing they believe... They say "Trust your Instinct" .... Lol. They say for you to know a road you haven't been through before, you just have to follow it once.. it's really funny especially when one have been amongst them and gradually got to understand their folly.

You know, most times because of where these individuals find themselves, they start looking for quick money (get-rich-quick syndrome). Chasing money out of curiosity... forgetting that the wise words says "curiosity kills the cat" if you have been in their shoes.... You may definitely act like them. I speak out of experience.

Where the whole thing gets worst is from those referring them into it or they probably get to see it on social media... Because of the mentality of wanting to get rich quick, even the little they have they end up loosing it and at the end, they say they wanted to invest.