Why You Need To Stake Your Palcoin
A lot of us woke up to see our feeds filled with Palnet and Palcoin post, while some were curious to know what all the buzz was about some ignored it but soon came around to check it out. What intrigued many of us was that we were offered FREE PALCOIN which we had to claim at Steem-Engine.
While this was really great, what most people didn’t know was that we had 3 decisions to take after claiming our Palcoin airdrop, they were:
Sell your Palcoin in exchange for Steem.
Leave it as it where it is.
Stake it.
A lot of people mostly took the first choice which was selling their Palcoin in exchange for Steem. While everyone has their own personal decisions to take I fear that choice isn’t going to help you in the long run and it also doesn’t help grow the new platform. You see, you hear of Steem Whales and you get to think most of them dump millions into buying Steem to get to where they are now, it isn’t so for many of them some of them just kept re-investing what they earned to be where they are now.
Coming to Palcoin, staking it gives you the power to earn more, staking Palcoin gives you the same effect Steem Power gives on the Steemit platform. The more Steem Power you have the more you earn from curation i.e. via curating other members. The same way Staked Palcoin gives you more power to earn from curation even in a bigger way because on like on the Steemit platform where Authors get 75% and Curators get 25%. On Palnet, Authors get 50% and Curators get 50%.
We’ll start seeing more effect of these actions when more people start receiving rewards after 7 days. True, some will still be exchanging their rewards for Steem but I tell you guys, staking your Palcoin now is setting you up for something big in the future.
Palnet is not just any project, they are supported by Minnow Support and developers on the Steem witness list. They have big plans ahead, so the earlier you start taking staking and growing at this initial stage the better for you.
Staking works like a compounding interest thingy, the more you stake the more you earn and the more you stake the rewards you get the more you keep earning. Don’t allow short term gains confuse you. And if you have the cash to dole out and get more Palcoin you can buy them at Steem-Engine.
I made a post uesterday about how you can claim and stake your Palcoin yesterday, you can read up on that by clicking the link below:
https://www.palnet.io/palnet/@ketcom/claiming-your-palnet-token
Earning From Two Platforms
Another great thing about using the Palnet.io UI to make your post or adding the palnet tag as one of our 5 tags is that you get to earn from both the Steemit.com platform and Palnet.io platform.
For instance, here are two post I made yesterday, on the first one I used the palnet.io platform to make my post while on my actifit report I used #palnet as one of my tags.
My Palnet.io platform reward view
My Steemit.com platform reward view
Though they are not so much but I believe I am still growing and getting in now is the way to go. You can see that in 7 days time I am going to be earning both Steem rewards in the form of SBD & SP and in Palnet I’ll be earning Palcoin.
Challenge and Bounty!
PLEASE Upvote this post and let your upvote be reasonable, I’ve got bills to pay. Lol.
Resteem this post, so that more Steemians can see it, join and enjoy the benefits Steem-Bounty offers.
Tell me what you think about palnet.io and what actions you have taken on it if any in the comment section.
I want to encourage a lot of comment on this post so I have set a 2 STEEM Bounty for members that comment on this post.
I will upvote your comments according to how beneficial I feel your comment helps us to learn more.
Thanks for reading my post and watching the video, like I always say, upvote it if you liked it I’ll truly appreciate that. Keep your comments coming and follow me if you have not already done that. Again, thanks a lot for your support to me always.
Please remember that I am no financial expert and this is not a financial advice, conduct your own research before doing anything, best you can contact your accountant or lawyer before taking any decision.
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I was curious if there is a voting slider on pal?
So here goes PAL e experiment number one @ketcom😊.......voting.....🤗
Do you know if there is a downvoting pool on PAL like they are proposing on HF21?
So...... I have a slider on my vote, I would like to see a new account with low power vote to see if they have a slider....
I guess you found it. Lol.
There is a downvote botton, as regard the downvoting pool I think the best thing is to go through the whitepaper. Cheers.
I claimed my palcoins and staked them straight away. Looking into Palnet I am liking what I see so far so I used my little bit of steem in my wallet to purchase 695 more palcoins and staked them as well. I will buy some more to stake tonight after I get my next steem payout. I think Palnet is a great opportunity for everyone and very surprised so many are selling their claimed palcoins. Good for us that want to buy more and support this initiative though.
A lot of people didn't go through the white paper or understand what staking is about. They just heard that "There is gold in California..." and they think it is a gold rush. Lol. They just went and claimed and sold. Some people are begining to understand though.
You are absolutely all rigth!! Two is better than one for sure even if the second one (PALcoin) NOW has less value than the first one (Steem) !!
I obviously staked them all as soon as I received them.
I believe in what we are creating and I want to give my little support to all of you!!
Remember that haste hurts
Haste does hurt, there is another saying the "delay is dangerous". I guess one has to always have its' way. Cheers.
Yes sure, the best way is always in the middle
I'm here to do my first post on this platform and your post was this first in my feed, @ketcom. I think I will stake what I got in the airdrop before doing the post. I read somewhere that some pal people will not upvote your pal post if you did not stake. It's not that much for me to worry about anyway.
How much is 257 pal? I have no idea! I still have not figured out the snax thing from last month, lol.
Have a look on Steem-Engine. The Buy/Sell prices are there. 257 could currently be sold for 12Steem but unless you stake it instead of selling, it will be difficult to earn on PAL, especially important as there is a 50/50 creator/curation split here.
Thanks a lot for the explanation @nathen007 long time. Also, in time that same 257 could be worth very much higher if things go as planned.
Hey! Hope life is treating you well my friend :-)
I'm doing ok my dear, we pushing forward. Thanks
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Well, I did just stake it, so I guess I am in! I usually attempt all new things in this place, even if I do not really know what I am doing :)
Great, one thing, remember to use #palnet as one of your tags. good luck.
Yes, I will. I just did a post over there and used palnet first.
That's great to hear, I give it a thumbs up once my VP rebuilds a bit. Well done.
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Thank you very much! My power is blown out and has been for too long. I got on the share2steem curation trail and need to fix it. Goals!
Thanks for your comment @fitinfun, I think that is a great idea. Lol "... Pal people..." we are all pal people my dear, you have to understand that people want rewards, you want more palcoin and will like to upvote people who have potentials of earning Palcoin so that you can get a share of the 50% curation. Look at it this way, if you knew I had staked my palcoin and my post is going to generate 10 palcoin as reward, you then know that because you also staked your palcoin and upvoted my post you'll get a share of the 50% reward i.e. 5 palcoin. You also get to earn from the Steemit side. If you upvoted another person who earns the same as me on the Steemit side but doesn't have a staked palcoin, you don't get to earn any extra palcoin and your staked palcoin is not put to full use. As they say, you can't eat your cake and have it. If you sold your palcoin, you should be expecting more. Staking helps support the project and you get rewarded for it. Cheers.
I did stake my pal coin. But I do not think I will be voting over there or logging in much. Too confusing and I am already working on curation issues on steem. I've recently more than doubled my daily curation revenue and I do not want to throw a new curve until I get this figured out.
I am now using the palnet tag on all my posts and will look at this again in a month. I'm getting 0-3 pals on my posts, so it is not worth my time to investigate. Lots of the same big guys on trending over there, so I really don't feel like watching the rich get richer and getting depressed :(
I understand you very well @fitinfun, first off, I do not work for Palnet.io or any of their partners or anything like that, so what I am going to say is from a commoners view point. I read their whitepaper and saw the people behind it are great develops that have been making things happen on Steem with services and projects offered for a long time. So when this one came on board I quickly jumped on it because I am looking at the future of the project and not the current challenges they are facing because my belief in their capacity is the they can overcome those challenges and they have been shown to be doing.
What is required is patience and support. I claimed 405 PAL and staked it but when I gave 100% upvote I didn't see any change. Lol. I have been buying little by little as my payout comes in, I got additional 1200+ which I bought in the range of 0.05 to 0.061 but the good thing is that it is now trading at 0.17211. Whether it goes lower or higher is not a bother to me because I'll continue buying and staking them until I probably get to 10000. I initially targeted 2500 which was the max anybody could claim but as I approached that target I moved it to 5000 but now I think buying up the way to10000 at this early stage. I ain't got the money to do a one time purchase but the little that comes i continue to buy. If someday the price goes up to 0.5 to 1 Steem, i'll know I made the right choice. It is as if we all started at the beginning, some sold their PAL, some Claimed it, some claimed and staked it while some bought more. The decisions we are taking today will determine our influence on palnet.io as we move along.
As regards the same guys trending with big PAL pay, I think it is only logical, people want to have a piece of the pie as regards the 50% curation. Members that have staked their token look for members who have also staked their own token and are upvoting them because their own stake helps the earn more PAL from other members who staked theirs too and have the potentials of earning higher rewards.
Using the tag #palnet I don't think will hurt, decimalization is coming soon so your 0 to 3 PAL will see more additions and most importantly, if prices go up, it will add up to something meaningful. Remember, it is like additional freebies added to your Steem earnings. Cheers.
I found out elsewhere that a 100% vote with a stake of 1600-2000 pal gets 1 pal. I live off the STEEM I take out of here weekly, so I will not be buying any pal. I am looking at this as a little bonus. Keyword - little, lol.
Thank you for that. I claimed them but have been a bit absent from Steem. Sadly, there are only so many hours in the day... Who knew? LOL
But I am going to give the palnet a try and see how that works.
So, curation rewards from there should be higher? Or is it curation in pal coins? Still trying to wrap my mind around this...
I feel you on the busy schedule thingy my dear.
On curation, you still receive your reward on Steemit the way you usually do after 7 days. Now depending on the users that upvoted you and how much palcoin they have staked you'll also receive palcoin. As you can see from my sample images, the rewards are not 1:1 (steemit:palcoin), you can earn more in palcoin or earn less it all depends on the staked palcoin holders that are upvoting you.
Just went over there and staked my coins and am going to do a post today. Let's see how that is going to work. I see that I have a blank slate and did not see a way to search for other users. Oh well, I will figure it out later - was going to upvote your post there LOL
Lol. Your upvote is actually once. It's like using partiko, busy, steempeak. Once upvoted you can't go to the other UI to repeat the same thing. 🤣👍💪♥️
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How much do you stake at a time?
All my Palcoin are staked. Including the additional ones I bought. It is your power on palnet as SP is your power on Steemit.
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Hey @mariannewest: you are my actual target! 🎯 🤗
Posted using Partiko Android
Easy come, easy go. When you find, let's say, $100 on the ground, you are much more likely to waste it right away, because it's "free" money. Whereas if you worked 10 hours for the same amount, it tends to hold much bigger value in people's heads. It's the same thing with these "free" tokens here. (They're not really free, because Steem Power is needed to be granted airdrops/claimdrops.)
You are very correct my dear.
Thanks a lot for making some important things clear to me.
One question I have: do we get only PALCoins when we upvote, post and comment while using the Palnet frontend or does this not matter? Like using steemit.com or busy.org etc. as usual and we also get PALCoins?
You are very welcome my dear friend. As long as you have staked Palcoin of reasonable amount it doesn't matter which UI you upvote from, you'll receive curation on Palcoin and Steem reward i.e. currently SBD & SP i.e. if you also have good amount of SP.
Thanks a lot for this information. 👍🙂
You're always welcome.
@ketcom I can See You as a Future WHALE on PAL.........
I wish so too. Lol. Thanks for the good wish.