I ask to help to deal with PoS Mining


#1

Hi, everybody! I have for the first time faced a problem of understanding of new cryptocurrency. Possibly because there is a lot of information on Japanese which I don’t know.
I looked narrowly to a coin on HOLD long ago and at last have bought.
But now I have many questions on which I couldn’t find information.
I know that the coin works on PoS principle and users who have coins on the local purse can receive an reward.
I have setup a wallet, have transfered coins, but now I can’t understand as I can participate in receiving an reward?
I used other wallets coin for receiving stakes or a node rewards. And there my participation and a share is visible.
In daedalus I don’t see anything.
Whether prompt mining works now as to setup it and to see it work.
How the PoS reward is distributed?
I ask not to tell about pools, I am interested in SOLO.
I will be very grateful for answers with link to proof.
Thx!


#2

It wont be implemented before 2018 Q2… But you will have to go pool, but it will be easy through the wallet… Unless you have 50M+ ADA I doubt solo will be worth it… Could even be more, we will know once the system is released… If you have a small amount, the chance of you getting selected (going solo) will be highly irregular and to extremes even unlikely in your lifetime.


#3

I.e. for today mining in daedalus wallet is absent? I correctly understand? And it is possible to mine ONLY in a pools?
The pool has some other settings & wallet?
I can’t find this information.
I understand that having few coins, I have few chances, but it is more entertainment since I come for long term.


#4

As he already said… Staking is not yet implemented.
You can stake solo but because the chance of you getting selected with let‘s say 1k ADA while 27B ADA exist is near zero it would be better for you to join a pool. But who knows, maybe you‘re a whale :grinning:


#5

I’m also a newbie here, so someone correct me if I’m wrong. As far as staking (mining), there are not settings on the wallet just yet. Every time you open your wallet, it has to sync, right? This is the way it is updating the wallet. When the devs release the ability to have a stake (mining) in ADA, you can do this through the wallet. When you open your wallet, there should be settings to turn on this feature. However this ability to stake ADA is not in production yet. Stay updated in the community and watch out for more posts!!!