Closely approaching my 85’th, so keen to receive good, simple advice. I am hoping Yoroi, where I have all my ADA, will make it plain and easy for me to make a good choice when I have to choose a staking pool. Any reassurances on this will be most welcome. Cheers
Sorry but that’s not necessarily the case. The principles of decentralization prevent officials from favoring some pools over others. Yes there will be ranking according to a number of statistics, but there are no guarantees, in the end it is up to the delegator to do their own due diligence.
Sorry, but it can also sound like those who already have privileged information making sure others will struggle to access it.
If ‘officials’ can’t do it and I understand that point, surely there is some legitimate way in which I can access good advice in return for a fee in ADA?
That’s absolutely not the case, that information does not exist. Apart from the actual statistics, which will be easily available (right there on the list in the wallet), which pools are best is a matter of opinion.
Opinions vary in value. I want an informed, useful opinion on where to stake and must develop a way to access it if I am deficient and cannot construct it unaided. If your advice to me boils down to ‘clever up’, then you are entitled to say that and I am entitled to continue searching. OK?
I’m sorry to seem unhelpful but this is a genuine problem and there is no easy way around it. Officials and Ambassadors are duty-bound not to favor some pools over others. People with no official position, such as myself (forum Leader means very little), in many cases don’t want to express an opinion in case they’re held responsible if it goes wrong. Pool choice is basically like any other financial decision: it’s your money, you have to decide what to do with it. Of course you can latch on to some source of info/opinion that you decide is trustworthy, but that’s still your decision, and it carries obvious risk.
Understood, and appreciate the frankness.
Has the stats etc. to make an informed choice, i’m not a techy and it all worked well for me, most days i generated rewards and averaged out at approx 10% return
When you say that you are looking to make a “good choice” can you say a bit more about what you are trying to accomplish?
For example, are you looking to maximise your return?
Or, make sure you contribute to decentralisation?
Or, delegate to a stake pool whose values you respect?
I agree with all the other responses that to suggest a particular pool would be providing financial advice. But as there are TONS of resources available, perhaps understanding exactly what you are hoping to accomplish might help me to point you to something specific.
I have spent a lot of time trying to understand the staking process, and I have found that all the resources and different sources of information can be quite overwhelming. Given that you are looking for simple advice (which I completely appreciate!!) I would love to be able to help, if I can.
I have been studying the blurbs provided by different staking pools and have learned quite a bit from them. I can look at them from a bit of a distance, as it were. So I have a small number that I will start staking with and learn by my experiences with them and by comparing their performances with the developing norms. A good steady return from honourable behaviour would I suppose be my criteria.