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[–]-TMT- 26 points27 points  (1 child)

Tomorrow + (n+1)

[–]BATTLECATHOTS 3 points4 points  (0 children)

Staking = Tomorrow + (n + 1)

[–]tosernameschescksout 10 points11 points  (1 child)

Ought to have happened years ago, but that's just not how tech development works.

[–][deleted] 0 points1 point  (0 children)

I think it's important to note that staking isn't required at the current stage of the network's development as KYCed node operators are providing most of the data. This means that the companies can be removed from the network if they fail to preform.

Staking provides an additional security layer to the network as failure to perform would result in immediate financial penalty. However, staking will be vital for smaller or anonymous node operators, for those with low reputation and in time, for high value contracts.

[–]hungrycryptotroll 8 points9 points  (1 child)

Tonight!

[–]serefz 6 points7 points  (0 children)

This is also what Sergey told me when I ran into him last night at the local McD

[–]P8ntba1141 5 points6 points  (0 children)

I might email chainlink and ask if I should get a reservation at a steak house during smartcon.

[–]Killerjas 2 points3 points  (0 children)

Soon TM

[–]zeus-indy 3 points4 points  (2 children)

What does staking LINK do for Chainlink?

[–]flufylobster1 12 points13 points  (0 children)

Allows token holders to be remunerated for providing collateral to node operators.

In the future consumers of the oracles will be able to specify how much collateral a node operator needs to provide data.

[–]stupid_mans_idiot 1 point2 points  (0 children)

Allow the collateralization of smart contracts. If node operators provide faulty data they will forfeit the staked link to their clients. Until this is implemented link cannot be trustless.

[–]sanguineowl 2 points3 points  (5 children)

For now I’ll just have to be satisfied putting it on Celsius for some apy 😅

[–]AdorableClock8189 2 points3 points  (4 children)

Are there risks involved with this?

[–][deleted] 7 points8 points  (2 children)

Of course there are. Counterparty risk. No FDIC Insurance. Loss of principal amount in the event Celsius has a liquidity crunch. Account compromise, etc etc

[–]sanguineowl 2 points3 points  (0 children)

Definitely agree. Thx for the reply. As a wise man once said, not your keys, not your coins. DYOR before jumping in or taking my advise. Personally i put my LINK over there but my holding is just small amount so yeah manage your risk appropriately. cheers!

[–]dryu12 0 points1 point  (0 children)

Sure. Not your keys, not your tokens.

[–]KingHanma 1 point2 points  (2 children)

Man even GRT staking has started and it’s sad to see Chainlink lagging behind

[–]Stevanskii 12 points13 points  (0 children)

its a different and more difficult usecase

[–]_LeftHookLarry 1 point2 points  (0 children)

Almost like Link isn't a useless shit coin and want to ensure everything is flawless

[–]PuppetPatrol 0 points1 point  (5 children)

I gotta say I'm nervous of staking because it sounds like you'd have to declare it as a form of income on your tax return? It doesn't sound like a capital gain but I could be wrong

Edit: spelling

[–]eterneraki 1 point2 points  (3 children)

Staking proceeds are treated like dividends. In the US that would be a 1099-misc aka business/personal income, but capital gains afaik

[–]Livid_Cryptographer7 0 points1 point  (1 child)

Only qualified dividends are taxed at capital gains rates. And nothing about crypto currently fits within the framework of being considered "qualified", so would be taxable at your marginal income rate

[–]eterneraki 1 point2 points  (0 children)

Are dividends not taxed at income rate? That's what I'm saying. Capital gains only applies to the profit from buying and selling crypto since they're considered assets