Few n00b questions


#1

Does holding more ADA in the Daedalus wallet mean that my computer will be responsible for more computation? How do holdings reflect on me/my computer?
Thank you!


#2

What type of computer are you using? Running Deadalus wallet is NOT the same as a computer trying to mine for bitcoin, it’s not very resource intensive. I’m pretty sure the computing power required to run Deadalus is negligible for most users, and not really a concern. (it’s not going to break your computer)
I also doubt (but can’t confirm) that the amount in your wallet changes the computation in any significant way


#3

And if your planning to invest a substantial amount, be sure to read up on wallet recovery, making transactions, and backup etc.

It’s not that complicated, but it’s also easy to lock up your funds if your not careful. The 12 word recovery phrase is very important. (and don’t share it with anyone)


#4

Staking hasn’t started yet, and I believe that when it does, you will have to opt-in rather than it happening automatically on every machine on which Daedalus is installed, though I might be wrong on that point. Your ADA is your stake, and the more you have, the more you will tend to participate in the process, assuming of course that staking is actually happening.

(I’m a noob myself but decided to offer my 2 lovelace-worth because such questions do often seem to go unanswered by more knowledgeable people here.)


#5

Hey thanks!
Yeah I really can’t find information on the process anywhere. It seems to be glazed over, and I thought I was just missing an obvious point.
Maybe I’ll suggest it for a webinar


#6

I’m using a rather energy intensive gaming computer, so I don’t like to leave it on. If ADA is truly solving the problems of an energy-and-computation heavy network, then ideally I can move my wallet onto a smaller, more efficient machine. However, I wouldn’t do that (be able to/want to) if I knew that a larger holding means I’m responsible for some sort of spike in traffic.
I hope that clears up where my head is at? Like I said I’m just a little murky on the mechanics of it all.


#7

There will be pools/delegation of stake and no need to keep your wallet open. Also I believe cold staking will be available at some point for Ledger so no need to even use the wallet for storage.


#8

Hey thanks for the info


#9

Yes I think I’m probably going to go with http://adapools.io/ in the short term at least, very impressive setup, there’s more info in other topics here.