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@Moon @parker @KitlerIs6 @ademan @bot @goatmeal @meowski are you able to run a stake node as a pool or do you need to put the full stake up yourself? that's the part that seems most inaccessible to me. I also have some concerns about the rate of growth, but if you are able to make enough money to maintain the node from your stake I see that as less of an issue.
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@thatguyoverthere @KitlerIs6 @ademan @bot @goatmeal @meowski @parker full staking, not pooling. of course if you do this you're your own sysadmin responsible for uptime and security.
btw slashing is only if you lie to the network, which does penalize you. but for that to happen you either have to actually be malicious, or the most common reason is you have a backup node and you accidentally started both at the same time. if your uptime is just spotty, you are deducted for every missed epoch as much as you'd make in an epoch if it were up so it's not huge. I missed over a month because I was sick from COVID and just couldn't deal with it lol.
I've made about 3ETH so it's already paid for itself, I am staking the minimum, I am gonna rebuild it and stake all my stored ETH but I didn't want to do it until withdrawal was enabled.
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@Moon @KitlerIs6 @ademan @bot @goatmeal @meowski @parker I probably worded my question poorly. I just mean is there software available to run a pooling stake node or are the only options to put the full stake up yourself or give it to a CEX?
It seems like if you are in a position to run a node it is a good investment. It would be cool if the barrier to entry were a little lower.
Being my own admin isn't really a big deal to me (other than the time sink), but for most people that is definitely going to be too much. You could probably make a little change just helping people manage a stake node since you already have the experience.
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@thatguyoverthere @KitlerIs6 @ademan @bot @goatmeal @meowski @parker
not sure, fully controlling my own node and keeping the full staking reward was my only option I would accept. I think Rocket Pool lets you do what you say but I don't actually know.
> It would be cool if the barrier to entry were a little lower.
To be clear, I half-agree with Parker. Let's say it costs 1,000 dollars to build a node, plus $60,500 in ETH, plus it does generate quite a bit of network traffic so you need better than lowest-tier Internet. This is a big chunk of money.
Additionally, the software was NOT easy to set up and ended up needed regular maintenance for a good while. I guess there are turnkey nodes you can buy to self-host, but you'll pay for that privilege. That said, do it lol. Also, the software has gotten better apparently, I was in on the first day and it was pretty rough but now finally things run themselves and I haven't touched it in a month.
So, barrier to entry? Monetary? Who has 70KUSD lying around? technical? you can pay to make it go away, but yes. Various penalties for bad uptime? Overblown in my opinion. Is it profitable? Do two shares (64 ETH, it has to be in 32ETH increments) and it definitely is, 1 share is too but maybe not worth the hassle unless you have fun doing this kind of thing.
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@thatguyoverthere @KitlerIs6 @ademan @bot @goatmeal @meowski @parker I said I am gonna set up a second one. I'll do it right now and tell you how much the hardware cost came out to in this thread.
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@thatguyoverthere @KitlerIs6 @ademan @bot @goatmeal @meowski @parker came out to around 900 dollars. I'm actually just gonna upgrade my SSD on my current one and deal with the downtime. I have a 4TB NVME in my node and it only has about 300GB left. That said, I've been running it for 900 days so 4TB lasted quite a while. storage is the worst part.
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@goatmeal @meowski @KitlerIs6 @bot @Moon @thatguyoverthere @ademan
And again, the original point I was making, was in response to bot and kitler's assumption about when "[Bitcoin] developers start censoring politically incorrect people", using Ethereum as an example to build off of. My point being that Ethereum nodes aren't equivalent to Bitcoin nodes, given that Ethereum nodes handle all consensus, transaction relaying, and are generally more intensive to host, whereas those roles are more separate in Bitcoin.
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@Moon @thatguyoverthere @KitlerIs6 @ademan @bot @meowski @parker I literally have to move to a different geographic region if I want to mine bitcoin and not make negative money. the barrier to entry is too high for me.
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Moon
Parker Banks
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