Did my first staking

Discussion in 'Digital Currencies' started by boneyard, Jul 13, 2021.

  1. boneyard

    boneyard Well-Known Member Silver Stacker

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    And am enjoying learning the lingo.

    Got a Youri wallet, put in some Cardano, and now watching the epochs turn & grow in the pool.

    Words that had no meaning before, but now have more crypto knowledge.
     
  2. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Great stuff, there is nothing like the satisfaction of growing your own food!

    You must have a glasshouse to be growing tomatoes in the middle of winter in Tassie.

    Is Cardano a new Italian variety?
     
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  3. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

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    And at what rate Boneyard?
     
  4. boneyard

    boneyard Well-Known Member Silver Stacker

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    Hoping for 5 % p.a.
     
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  5. Revils

    Revils Well-Known Member Silver Stacker

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  6. boneyard

    boneyard Well-Known Member Silver Stacker

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    Surfing, not climbing.
    Boneyard is from whale bones.

    Another of South East Tassie's gems is Boneyard at Martion Bay. "The Yard" is another worldclass wave and all who have ridden it declare it Australia's best righthander. This waves breaks over a permanent sand bar over 800 metres off Marion Bay beach. Local surfers know when Boneyard is breaking there are many other opportunities for good surf not too far away on the Tasman Peninsula, Eaglehawk Neck and further afield in south east Tasmania.
     
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  7. SULLA

    SULLA Member Silver Stacker

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    Staking is great fun! I staked my Theta and Tfuel about three months ago and now have the satisfaction of earning about 100 Tfuel a day. Am looking at staking ADA too, but do not have that many. Can you recommend a place to stake BY?
     
  8. boneyard

    boneyard Well-Known Member Silver Stacker

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    Using 4 different pools.
    Nerd Pool, Kiwi Pool, Cool Pool, Rocky Mountain Pool.
    All using a Yoroi wallet.
    Enjoying the learning curve.
     
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  9. TreasureHunter

    TreasureHunter Well-Known Member

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    By the way, just a technical question: if someone knows your wallet's name, can they (somehow) steal your cryptos?

    (A wallet name appears for example in old-fashioned downloadable QT wallets that use wallet.dat files and within the old Bitcoin wallet there is an option to create multiple wallets: this is what I am talking about, the wallet name).
     
  10. Revils

    Revils Well-Known Member Silver Stacker

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    No a wallet name or address is the public name - this is like a bsb and account number
     
  11. dozerz

    dozerz Well-Known Member Silver Stacker

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    your wallet address is your public key.

    nice the speculators have picked up cardano.
     
  12. TreasureHunter

    TreasureHunter Well-Known Member

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    What if your wallet.dat file gets stolen? And then afterwards you encrypt your wallet on your computer. Can the thief still access the (non-encrypted) wallet they stole?

    Or, will the stolen wallet synchronize with the blockchain and not work, because it is encrypted?
     
  13. dozerz

    dozerz Well-Known Member Silver Stacker

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    no, encrypting your wallet.dat file is only relevant to that file. with any crypto wallet if a hacker has physical access you should assume its compromised. nobody uses wallet.dat files anymore, its all about pass phrases.
     
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  14. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    I bought and staked some BTCST. Will see how that goes
     
  15. TreasureHunter

    TreasureHunter Well-Known Member

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    But what happens if your hardware wallet gets broken (e.g. gets corrupted and destroyed forever)?

    Can you still access your coins even though the hardware wallet got damaged?
     
  16. Revils

    Revils Well-Known Member Silver Stacker

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    You'll have a recovery phrase or recovery seed - so if it breaks or you lose it you'll be able to recover funds - but if someone discovers your recovery seed/phrase they'll also have access.
     
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  17. TreasureHunter

    TreasureHunter Well-Known Member

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    But what if two people have the same recovery phrase: "elvisisalive"? :D Is that possible?
    (I am still researching how this entire "industry" works...)

    So, all it takes to recover is just another hardware wallet and to know the phrase?
     
  18. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    A recovery seed is at least 12 words and up to 24 words. Additionally, you can add a pass phrase on top. The words come from a list of 56 or 58 words to minimise transcription error when you write them down. Since order is important, the likelihood you generate exactly the same seed as someone who has already used it is almost infintesimally small.
     
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