Becoming a Staking Pool operator

Hi all. I’m new to the forums, and have a little bit of knowledge and basic consumer level understanding of the Cardano project. I’ve been accumulating ADA for about six months now, in anticipation of the coming new year. I think Cardano really has the potential to turn the whole crypto ecosystem up on its own head, and I think that it’s closer to realizing this than most people would believe.

I have a few questions concerning the current events going on with the project. My first is in regards to staking amidst the testnet.

1.) Is it possible for me as of writing this right now, to put my funds into Daedalus and stake my funds and earn rewards? Or do I have to wait until the main net hits? Did I miss the testnet rewards boat?

2.) What about trying to create and run my own staking pool operation?

I have a decent amount of capital lying around. I could afford to buy more than a few computers with high end quad core processors and a significant amount of RAM. Is there a complete beginner’s guide anywhere that could break down the pros and cons of taking up a venture like this?

3.) If I were to start my own staking pool operation with the intention of making room for unknown third parties to join at their own free will, would I have to delegate a significant amount of ADA myself in order to reap more of a ROI? Or does the fact that it’s a pool and other contribute to it offload some of the losses on trying to generate new blocks?

I really want to contribute to the project space, and I really want to make some passive income whilst helping the Cardano ecosystem thrive. What are my options? Where should I begin?

1 Like

Hi Hobes.
In answer to question number 1 - Maybe. You had to have your ADA funds in a Daedalus or Yoroi wallet as of the 29th of November for the snapshot. If you do, download the testate wallet and check your balance. All the good info starts here:

Question number 2 - Possibly. Are you handy with a spot of coding i.e. using terminal?
If so, do some research at the above link and also check out this guy. This site rocks (ha!):

You may not need all that quad core jazz.

Good luck