I would like to raise the topic of reducing the registration fee for setting up a new StakePools. I already operate a stakepool, so this is not for my own benefit. When I registered my stakepool, Ada was at .07 which cost 500 Ada and converted to about $35 to register. Now that Ada is over $1.00 paying 500 Ada is over $500 and this is a very high price and creates a significant barrier to entry for small new stakepools to register. We should lower the registration fee so that we can support young entrepreneurs and aspiring young people who want to learn about Cardano, the Blockchain and running a Stakepools.
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Hi!
You can always use the testnet for such purposes.
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Does the testnet allow them to earn Ada? There is no better motivation than one’s ability to earn money from their efforts. Let’s make sure that we provide opportunities and incentives as we grow the ecosystem.
Hi!
I think the problem is that to earn ADA you need stake - and pledge amount. So if you dont have 500 ADA to register the node it means you wont have any more to have a pledge on the node. So to produce 1 block in a year you need at least ~15000 ADA to be staked on the pool. I agree that it is a good experience to earn small amount of ADA with pool operation but the registration fee is not the only thing which prevents you from earning ADA.
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It was interesting to setup the pool etc.
However, realistically, even though I could provide $10k stake, my chances of making a block and making a profit are so small that I will just shut the pool down. I cannot justify keeping $10k locked up in order to make a probably $0.
I know I could look for people to add stake to it, but I was more interested in running the pool rather than marketing.
It just seems like the ecosystem may decentralize a bit, but something is missing if we want many pools ran by many people in many different places.
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This is what makes good coins for short trades where the “rich list” owns the project and occasionally dumps.
Wish I had known about this project when it launched!
I like the idea of building a network of nodes with attentive admins though…
Basically, today, you need to have a million dollars and more staked in ADA to have a viable pool. Otherwise you are basically just providing a free uncompensated Cardano node to the network. I believe I remember hearing an interview with someone at IOHK regarding this being intentional by design. I don’t remember the details or if I’m correct it was a person from IOHK, but I believe it was. The problem is this causes “the level playing field” to mainly stake on other people’s pools where the operators are consolidating the level playing field wealth.
how much would you pay for an Asic?
Proof of Stake is the new POS.
the point is…you need to stake…before people take you seriously. grab some friends…and pool your money.