i am in the Cardano since 2017.... this project makes this world the better place with people like you.... my point is GOOD IDEAS ATTRACTS GOOD PEOPLE.... PEACE MY FRIEND....
I love this video! Great moral cause! I would say 1.5M ADA would be enough to produce blocks regularly enough to avoid delegator flight. I have just made it to 2.5M ADA and nearly every delegator in my pool [BRUN] I have come to know personally. Tip: I actually send gifts by mail to them to keep their loyalty.... Good luck with your venture!
@@NAcrypto Just a suggestion. There is nothing wrong with partnership, I guess. You can look for other small pools like yours with about 150k ADA each and pull resources together. I want to believe this will be better than your current position.
@@guyvandebergh446 Totally fair question Guy, the honest answer is not a lot. As someone staking you can simply choose to support whoever you'd like with your delegation. You'll always get around about 5-6% yield per year. Edit: I am doing a bad job of selling myself; if you would be so kind as to support [NASEC] that would be appreciated massively by me :-)
@@NAcrypto Yes, don't sell yourself short. You've a skill of server administration that is valuable to run and maintain a pool. Not everyone who enthusiastic is capable or skillful and able to do what you do. I wish I had at least 10K I would support you for two years. I am planning to shift my profile to hold 90% ADA and run a staking pool by early 2024.
Pledge is a poor metric right now. We're reducing VEGAS Pool pledge from 210k to 50k because it makes no difference to small pools and the luck on gaining blocks. In the future, if they change the rewards system, we'll increase, but you're definitely not missing out there. Our 210k pledge is in the top 500, but pointless if you don't get that 1.5M in your pool overall. The secret, as you've stated, is keeping your delegators. Our Business partner and I have the majority of that level, so as you state, the issue is really Marketing; we're sustainable, but without marketing you dont get far.
Hey Carl, seems reasonable honestly, check out my latest video I know this is a hot topic so I thought I would demonstrate just how huge the amount of ADA you need to pledge needs to be to see the benefits. I am starting to think that maybe a0 should be logarithmic.
Thanks for this video! I'm technical and was seriously thinking about starting a pool but it looks like it's just not worth it unless I spend all my time trying to drum up the stake - 2.5M ADA is such a huge amount.
Thanks. Would be awesome if someone recorded step by step guide on how exactly to set it up for the guys who are capable on building PCs, installing Ubuntu, but who has never written a line of code.
Definitely before you start building a node you should go and take some courses on Linux from somewhere like Udemy. Without strong Linux skills (even with them) you are at risk of losing a lot of money.
Hi NAcrypto, Thanks for the honesty you are providing. That's the core of what decentralized networks was built for. My question is, we the underdogs, that own small amounts of ADA, can't we form a community where we pledge our ADAs to a build a single pool being able to mint blocks? Many-To-One operation?
I am/was curious about this topic, and if it were easier I'd probably give it a go, because I like the vision of Cardano. I think I might have the technical skills as an ex-sysadmin. But PR is just not my thing. Totally not my thing. Nor am I rich. That is a pity really, because it seems like it would be something I would like to try: out of curiosity and because I believe in and want to support Cardano. But I think instead i'll follow you and do it vicariously. Good luck with your endeavor! I'll be following it with interest.
Good video and thank you for your honesty. Let's face it, the large pool owners with multiple pools have made a mockery of saturation, pledge and the various a0, etc modifiers. IOHK per the link shared in the description asking to 'play nice' doesn't cut it. Atala Prism, the Cardano Digital ID dApp has biometrics coming soon. I don't understand why they can't just programmatically limit the number of pools per Digital ID, once the biometric functionality is in place? I've raised this point in a few forums and there seems to be some acceptance of the idea. I'm going to give running a Stake Pool a chance (with my paltry 3000 ADA as pledge), hoping that a fix is on the horizon...
I agree and I disagree. There is never going to be a way to stop me from starting 100 pools, I can go to my friends who will lend me their biometrics. The real solution I am coming to believe is a social one. Stop admiring popular people motivated by greed running half a dozen pools and start calling them out as the bad actors they are. Delegators should be smarter, right now they are supporting potential Sybil attacks. We need to create an environment where it is unacceptable to publicly be seen to be running multiple pools. That's just my opinion though. Pool splitting is a cancer on the protocol.
@@NAcrypto Absolutely! I just think that having something like what I’ve proposed (over and above what you’ve stated) would be enough to disincentivize mass abuse of the system. There’s always the risk of your friends deciding that they want to run off with ‘their’ ID associated pools. Plus, just having the ID biometrics reconfirmed every month or so, should further disincentive cloning? But it’s like the law right? One hopes that people will behave the way they’re expected, but the law is there as a backup (and it’s more explicit to the community that it’s unacceptable). Pool splitting is absolutely a cancer, and will hold back Cardano adoption in my view, especially when talking to Governments and business
@@asoganmoodaly8743 I reckon if we take a hard enough tone on pool splitters we can change people's actions. Telling them that they are helping to perform a Sybil attack that will result in them losing their funds should scare people (as they should be) into not trusting these "nice guys" who are taking the actions of bad actors.
I think the pledge is a double sided sword. As you've said - now with one ADA over an $ having 2.5 Million ADA is just insane and not something a "small pool operator" can afford to put up on front. But I've also read something about how much pledge plays into pool desirability and if it's below ~100k you shouldn't be concerned if it's 500 or 50k. Either way, I'm thinking about starting a pool - one question: when you talk about upgrading your nodes, how much do you think can be done through automation?
Having heard all this there should be a future feature added to join micro stake holders funds into one big contract to make a joint pool pledge. This will really boost the feasibility of the little guy or girl joining in the party.
Yes the trouble is that the operator is always required. I believe the true requirement is marketing talent and some core, fundamental Linux administration.
Thank you sir...this video was exactly what I was looking for... The pledge explanation was beyond perfect and thank you for believing in ADA we have a long way to go... By any chance do you know how or what factors are taken into consideration for the adapools score.. I can't seem to find any logic
I am sorry for the delay Hugo, I try not to pay attention to things that I cannot control and I don't think most delegators look beyond the rankings in Yoroi or Daedelus honestly.
@@NAcrypto those are good points you mention, I'm currently in the process to build a pool and having some questions regarding the virtual machine or local machine... Some places mention having both running 24/7 while others just the VM... Do you have any step by step guide since most of them are pre Libsodium or any Playlist can help me... I'll really appreciate it
Thanks for the information and insight. I'm interested in starting a small stake pool owner (less than 5000 ada pledged), but I believe it would be interesting to participate in Cardano and if I can make some ADA then all the better.
Hi there, just to be clear I would recommend a minimum of 300K ADA as this will give you a 1/4 chance per Epoch to produce a block. With less than 5000 ADA without getting incredibly lucky it will take you years to mint a single block.
@@NAcrypto Hi there. Great video, thanks a lot for the info. I had a question, though: doesn't the high barrier to entry in terms of pledge actively discourage small SPOs from getting into the market, running contrary to the goal of decentralizing the network? Assuming conservatively that ADA averages around $1 for the next year, $300k to even get a foothold in the SPO game seems... discouraging. Am I missing something? How are smaller nodes supposed to compete in this kind of market where the startup costs are so steep?
Thank you for the video! Quick question, did I miss out any info regarding the 2.5m ADA that you mentioned towards the end of the video? Why is this number important?
Lovely video, thanks, answered a lot of questions... I hope the "entry point" for smaller operators can be eased up a bit somehow, otherwise it makes it hard for small players... We're way better off delegating as it's a "set and forget" instead of having pools ourselves even just as a hobbies...
Honestly I think that from here out becoming a "small SPO" is taking on a different definition. To purchase the ADA required to have a good chance at standing out today and minting blocks off the back of your own pledge I reckon you need to invest about £100k. I'm trying to make it work with an investment of around £20k and it's been hard. That said if you will stick to delegating please do consider showing your support and delegating to [NASEC]
@@alexandernorris4990 £100k is not a small investment by any stretch of the imagination when the vast majority of folks nowadays struggle to make ends meet... If IOHK and the folks driving the project are serious about making stake pool operation a completely decentralized process that number needs to come way, way down.
@@paulcassidy4559 The goal is to have a small group of 1,000 pool operators (+ competitors keeping them honest) globally not really to have everyone running one as then we are just back to PoW levels of energy consumption. I see your point entirely but in theory you could start a pool with 1 Ada pledge and if you can provide enough value to attract delegators it could still work.
@@paulcassidy4559 Of course Paul, I believe that it is vital we discuss these things and your concerns are 100% valid. Whether my answer justifies the state of the protocol is debatable also. I am just trying to let you know the facts to decide for yourself.
Hi Alex, no this would definitely not be profitable. Honestly from my experience so far I would recommend a pledge of at least 300k ADA at this point. This will allow you to mint blocks fairly regularly whilst you build up a base of delegators.
I don't understand, I thought Cardano had a built-in protocol that disincentivized the centralization of staking pools by issuing less rewards once they grew to a certain size?
They absolutely do. That size is currently 64M ADA and at the end of March will become 32M ADA. Pool splitters when they grow their pools to full saturation will then just make a second pool so that they can continue to take the rewards for themselves rather than to assist smaller pools establish.
Thank you for the information. This is exactly what I was looking for. I'd love to start my own staking pool, but I wonder if it's worth the effort if I don't have a lot to pledge. Or if it's up to marketing so well you'll get delegates. What do you think the minimum to pledge would be at this point in time?
I believe if you are a truly fantastic marketer you could begin with 10K Ada and stand a chance with a well timed quick release of high quality content over the course of one week.
Hey, thx for the video! :) I have some questions: Since Cardano is also focused on poor countries, how could it be managed to run a pool there? I am not living in a very poor country, but specially in the winter time we have 1 or 2 power cuts, sometimes for some hours. We are thinking about testing a pool with a Raspberry (with normal power but also with Solar or Wind power) to decentralize from the power net as much as possible. Internet here is awesome so there is no problem. Do you have any thoughts about that?
Running the pool itself is now the difficult thing. A Raspberry Pi 4 with 4GB of memory is sufficient for a single node so you would need three. The trouble is that if you need 300K ADA as a pledge to get noticed then you need to find at today's price £150K to invest into ADA. Given your circumstances it would not be advisable to run a pool where you live.
@@NAcrypto how do we expect poor countries to adopt crypto and run nodes when, for a lot of these people, their tech infrastructure is many times not dependable?
I have been a long time Cardano Hodler and want to help in decentralizing ADA even further. Should I start a pool on the testnet first and then mainnet or just straight to the main?
The trouble is that the upgrade process changes. Sometimes things are necessary to change like config files others not. It's a reading and comprehension exercise as well as a technical one.
AWS can't shut down the majority of the Bitcoin nodes. I find it interesting that as the price of ada goes up the harder it is to create a stakepool, that doesn't sound like increasing decentralisation.
Thank you for the info. I've invested in ada and I'm learning, including about stake pools. I'd be very interested to know what the process of minting a block is. Ie. Is it just a matter of hosting software that competes automatic checks or does a stake pool operator have some independent input/responsibility? Also, if subcontracted to a cloud server, how does a stake pool operator ensure integrity? How are your delegations going and what is your pool called?
So hypothetically if I run my own staking pool, and my marketing is not working out, I won't get paid anything right? You need those blocks correct? If you have too little delegators the chances you will produce blocks are very very small right? Or do you get paid for at least creating a good working server and delegating small amounts of ADA from the beginning just for having the server?
Yes, running your own staking pool is essentially starting a marketing business. If you don't have other people's delegation you are just wasting money on hardware as the difference is so absolutely tiny when compared to the results from delegating. A percentage of a percentage. PoS is trying to remove the need for millions of servers, there is no incentive to build a PoS pool unless you can attract delegation.
Very informative, I spent the last 3 days reading on how to setup a pool, thinking my 30K ADA would be enough to run it with profits. Managed to get it running in docker today, but will let go of this dream (o: after watching your video. appreciate your honesty. Please share the name of your pool once you reach the 2MIL pledge. I will be happy to delegate all I have to your pool at that time.
@@NAcrypto As promised we delegated the first 7835 ADA to the NASEC pool, More to come next week once released from Binance. Please keep sharing your thoughts (o:
Does it still make sense to start a steak pool? I personally have very little ADA. But if I were to find friends and acquaintances and have them pledge there ADA with mine, and start a stake pool in Azure or AWS, would it make sense? Fortunately, the cost of running the servers is going to be negligible for me.
Thanks for the video. Would a private stake pool give you any sort of earning? That would bypass the need to have a good marketing. I checked ada's website and they seem to say that you can double your stake each year if the pool is private.
The only reason to do such a thing would be if you own 32M Ada or more. That way you are saving 340 Ada per epoch plus a 1% fee. Otherwise you are sharing the cost between other delegates so realistically there is no point as the saving would be so minimal it wouldn't offset the cost.
@@NAcrypto Thank you so much for replying back. I guess folks that have not been able to amass a big amount of ada at the beginning are now unable to do any of this since the costs are so damn high. 32M for a private pool.... If i had 32 M in real life, I wouldn't even invest in crypto :D.
I'd love to start a pool, I have a background in IT but nowhere near even 50000 ada. Do you have any videos on building ada other than the obvious? Thanks!
There aren't other ways, you buy it or earn it as rewards. Other solutions are most likely gambling, I'm afraid I won't be drawing lines on graphs all too soon.
@@NAcrypto for now i am taking my meager ada coins and staking them, I'll keep buying and staking in smaller quantities to hopefully build up over time. basically doing the same with dot
Hey! This is a great video! Thank you very much! I’ve been thinking extensively of building my own stack pool but have the worst feeling of losing it all due to my lack of knowledge. My experience isn’t at all technical but I’m so driven by the mission to help make the network even more decentralized. I have 73k Ada for a pledge, do you know if things will become more safe in the future? Maybe best to hold off till we can build stakepools from our hardware wallets, as what Charles Hoskinson mentioned late last year?
Security is never going to get safer than today only more difficult in my opinion but maybe I'm justifying my company's existence 😉 You can already use your hardware wallet to store your pledge of your pool.
I don't have enough to pledge, but I've got the technical skills. What do you think of a service where someone with the ADA and no technical skills could start a pool, like SaaS?
Not only does it already exist but it doesn't really work very well due to the notion that the Stake Pool Operator is the person in control of the keys at the end of the day thus there is a trust element involved in keeping the pool running.
This is not possible due to the fact that it is not a standard process at this time. Sometimes new configuration files are required, sometimes certain parts of the program are deprecated such as the LiveView and so your configuration requires updating. The entire process tends to be a little different for each "major" upgrade.
I’m a broke 19 year old with an idea to start a charity stakepool with a twist. This video is the start of my research.. wish me luck. Also anywhere I can go to find more info on setting up?
Best of luck Chase, remember this will take up a considerable amount of your time. Weeks if not months to be successful. My other videos will hopefully help you.
So Cardano's stake pool rewards calculator suggests that staking a pool of just 10k Cardano would net the operator over 200k ADA annually, which seemed ridiculously high. Is that calculator an errored tool or am I missing something?
Hey Jason that calculator is so damn hard to drive, everyone gets different figures. We just discussed this in telegram and I shared my calculations. Basically with 10K as a pledge if you could somehow fill the remaining 31.99 Million remaining ADA to create a saturated pool it looks like you could earn ~44k ADA annually. The thing is you are very unlikely to achieve a fully saturated pool. Here I am nearly 6 months later with a 50k pledge and only 120k in total. Also what about the costs of running a pool? You need at least 3 VPS at a minimum as well as monitoring and the skills to build them securely such that you are not going to have to deal with being hacked. Our costs are ~£100 per month no matter if we have 0 ADA or 32M ADA delegated.
Hi! I would really like to start a pool, however i'm not exactly sure how to in 2021 , i've looked over a bunch of articles and videos already but some seem to be slightly outdated in regards to the technical aspect and others . I have a marketing background which *fingers Crossed* will be beneficial, just looking to be pointed in the right direction in regards to "pool mentorship"(at least for abit), setup and registration, from relays, websites and all. Any recommendations?
It is somehow frustrating because my pool is running for several months without any block... Server costs eating my money.. I keep my producer + 2 nodes online for another few months. But I think the time will come once I have enough when I don't get a single block to be able to pay the costs at least..
Jay I would urge you to join the Telegram channel. You are the kind of pool operator I want to help and stand for in this community. I cannot do much yet but I have aspirations to do so. I am reaching a fever pitch with these damn "pool splitters".
With ADA price rising and only company like Binance can create staking pools without pledge. Small ppl should come together and form a group. We should stake all our ada into a small pool so that it attract more users and then move on to the next pool and so on.
You mentioned at 2:20 that the 500 ADA fee for registering a node is reclaimable. Can you point me to the documentation on that? I didn't see anything about that in the official Cardano docs on setting up a node. That removes a lot of the risk of starting a stake pool as a couple of VPS instances are quite cheap.
The 500 ADA is returned to your Rewards address. Sources: forum.cardano.org/t/stake-pool-deposit/40994 github.com/input-output-hk/cardano-node/issues/1821
Do you think that a person who has no knowledge about programming or computer science could learn to set up a pool from scratch? And how long would it take?
Yes they could, though they are likely to make mistakes when running it and not understand how to actually fix them. I've helped several people rescue their ADA which they had put into wallets in their pool and who couldn't get it out themselves.
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Thy for the open words. I thought the last weeks for running a stakepool which is technically not an issue. but you see the actual price of ada... I thought of adding fee for delegeated to charity like some do with gaia or support artists. There are enough issues locally which might be happy to get support... But 2.x million ada is .... FAR away. :( Maybe I can accumulate more when the cold beartimes come and altcoins usual break down in price. :(
I love your video, i will delegate to your pool but I don't know if my vote amount will not be in my wallet when i delegate. , not sure how that works,
Yes but starting a stake pool is not a requirement to receive a return, it's only a slightly increased yield over the one anyone can achieve by staking their own Ada without the cost and risks.
Do you know why Daedalus desktop version is so slow ? Everytime I open it, it is syncing an hour before I can do anything with my funds ? Is that a dangerous sign ? Btw, if you won the lottery now somehow and you get offered 100k ADA which you have to stake for 2 years, or 5k DOT that you have to stake for 2 years, what would you choose ?
Daedalus is running a full node and has to sync the full blockchain to your computer. This takes a lot of bandwidth and takes a lot of time. That's why it is so "slow" it speeds up to a good pace once it has finally syned. I am all in on ADA for it's mission. DOT to me would be like having a few more £s which I would rather honestly have the FIAT of than DOT. Totally a personal response though, I am not looking to disparage DOT.
ADA at $100 would mean a market value of £2.4Tn or six times bitcoin's current size. During that transition it would be possible for us to vote to lower the cost of such fees. Also this is a redeemable figure. And finally it costs 500 ADA so you are off by a factor of ten, it should be $50K
Because 3 organisations control the majority of the hashing power of the entirety of the Bitcoin protocol meanwhile 3-500 staking nodes is 100 times or more greater than that number.
@@NAcrypto I see... So out of that 11,558 active BTC nodes are almost all of those consolidated into the three entities you mentioned or are those three entities just supremely powerful compared to the other 11,555?
Hi, I'm a graduating CS student interested in running a staking pool. One of the most important challenges for me is not the technical aspects, but more the social dynamics and marketing side. Sorry to say but this video is pretty disheartening/demotivating because I obviously don't have a huge capital to pledge and don't like the idea of having to invest a lot into marketing + customer relations. It seems to me like the protocol is doing a bad job of supporting and incentivizing young blood to take the risk. I'm confident I can build a 24/7 reliable staking pool with high performance and motivated to take that initiative, but not confident about being able to manage people relations and fighting for attention.
Like I said in the video, running a Cardano stake pool well is not a massive technical challenge for professionals. Anyone with a small pledge and amazing marketing can succeed, I understand you feel your technical skills should be what matter but I'm afraid they are just not meaningful in comparison to marketing. The protocol is doing exactly what it is designed to do, attract the right type of people to operate stake pools. Those people will have a public presence, a message and a mission. That is what the protocol and the ecosystem desires. I agree the cost of pledge is high but it is not high relative to starting any other business and the capital outlay is far more liquid.
What is the best way for me to contact you? You have no idea how many videos I’ve gone through to find this one. We are looking to start a small staking pool, but we have extreme amounts of connections to make it a large one. I would really really really love to speak with you.
t.me/nasec_delegator_chat Join our Telegram lots of people are looking to get in touch and I'd rather chat in a public forum now. Saves answering the same questions again and again, hopefully we can build a nice little community.
Might be best to pass on this one Andrew, you would have a few months of learning at least to be an effective and safe admin. You'd be at risk of deleting all your funds that you pledge! Not a fun position. Please consider delegating with [NASEC] we're supporting plenty of small pools get off the ground.
@@NAcrypto Thanks for the feedback. Yes, certainly don’t fancy risking my pledge! Is that a significant risk?? My understanding is that ADA staking pools don’t have slashing. But you mean loss from operator error? Thanks again!
Chicken and Egg problem. Need delegators to be able to mint new blocks, can't attracted delegators because don't have enough ada to guarantee rewards every epoch.
Spot on Jason. 2 solutions however, 1 have a tonne of cash to mint blocks by yourself. 2 is to market well enough that you attract people who support you despite it costing them until you reach a certain level.
its hard because most of big influencers already have 2 or 3 pools saturated and they keep creating more and more... if you are new and small you need to understand that maybe your pool will not be profitable during the next two years.
That's correct Wise, but not a healthy place for the network. I am becoming of the mindset that we need to take up action against these pool splitters.
Not even CLOSE! 1.6M live stake so if you are a whale we'd LOVE to have you. We've grown so phenomenally quickly recently and I cannot tell you how much any support means.
@@MichaelBrashier well we used to use OVH as they are the biggest provider in the the EU. Now we are running on our own servers out of a local data centre.
No you will need at least 500 ADA just to register a Cardano stake pool. If you'd like to earn interest on your ADA though please consider staking with NASEC.
i am in the Cardano since 2017....
this project makes this world the better place with people like you....
my point is
GOOD IDEAS ATTRACTS GOOD PEOPLE....
PEACE MY FRIEND....
I love this video! Great moral cause! I would say 1.5M ADA would be enough to produce blocks regularly enough to avoid delegator flight. I have just made it to 2.5M ADA and nearly every delegator in my pool [BRUN] I have come to know personally. Tip: I actually send gifts by mail to them to keep their loyalty.... Good luck with your venture!
I love hearing from other stake pool operators even if your delegation makes me envious ;-) Thanks for your support Jorge.
Alguma dica para alguém que quer começar?
Can I email you some questions?
@@NAcrypto Hello are you able help me start an ada Pool for my wifes cancer fund?
@@NAcrypto Just a suggestion. There is nothing wrong with partnership, I guess. You can look for other small pools like yours with about 150k ADA each and pull resources together. I want to believe this will be better than your current position.
Thanks for the honesty! I think you just saved me and my 35k ada a lot of wasted time.
It was not my intent to put people off at all but I do believe in letting them know what they are getting into.
@@NAcrypto HI Alex, what is the benefit for me in staking to your pool compared to another pool.
@@guyvandebergh446 Totally fair question Guy, the honest answer is not a lot. As someone staking you can simply choose to support whoever you'd like with your delegation. You'll always get around about 5-6% yield per year.
Edit: I am doing a bad job of selling myself; if you would be so kind as to support [NASEC] that would be appreciated massively by me :-)
@@NAcrypto Yes, don't sell yourself short. You've a skill of server administration that is valuable to run and maintain a pool. Not everyone who enthusiastic is capable or skillful and able to do what you do. I wish I had at least 10K I would support you for two years. I am planning to shift my profile to hold 90% ADA and run a staking pool by early 2024.
I delegated with you because of your honest videos
Hey thanks so much for this message, it's really appreciated.
crazy times where the ADA was at 25cents. Now at 1.20, good luck getting those 100 000 ADA.
Very good video btw.
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..and now 2.18 USD. Really crazy.
i love the underdog. I have a humble stake on NASEC now.
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Thought about starting a pool which brought me here. Appreciate your insight and suggestions 🙏
I appreciate the honesty.
Excellent video - really appreciate the honesty and breaking down the reality (much of which I wasn't aware of)
"I haven't had any problems so far..... that said my background is in writing the Linux kernel network stack... (Long pause, nose scratch)" LOL!
Pledge is a poor metric right now. We're reducing VEGAS Pool pledge from 210k to 50k because it makes no difference to small pools and the luck on gaining blocks. In the future, if they change the rewards system, we'll increase, but you're definitely not missing out there. Our 210k pledge is in the top 500, but pointless if you don't get that 1.5M in your pool overall. The secret, as you've stated, is keeping your delegators. Our Business partner and I have the majority of that level, so as you state, the issue is really Marketing; we're sustainable, but without marketing you dont get far.
Hey Carl, seems reasonable honestly, check out my latest video I know this is a hot topic so I thought I would demonstrate just how huge the amount of ADA you need to pledge needs to be to see the benefits. I am starting to think that maybe a0 should be logarithmic.
Wow! 50,000 ADA then......compared to now! Congratulations m8!
Thanks for this video! I'm technical and was seriously thinking about starting a pool but it looks like it's just not worth it unless I spend all my time trying to drum up the stake - 2.5M ADA is such a huge amount.
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Thanks. Would be awesome if someone recorded step by step guide on how exactly to set it up for the guys who are capable on building PCs, installing Ubuntu, but who has never written a line of code.
Definitely before you start building a node you should go and take some courses on Linux from somewhere like Udemy. Without strong Linux skills (even with them) you are at risk of losing a lot of money.
Definitely subscribing, this was an excellent video! Thank you for your informative, and well thought out presentation.
Yes got the help I needed from another pool operator ! but not decentralized as it should be you need to be rich to get a block
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Hi NAcrypto,
Thanks for the honesty you are providing. That's the core of what decentralized networks was built for.
My question is, we the underdogs, that own small amounts of ADA, can't we form a community where we pledge our ADAs to a build a single pool being able to mint blocks? Many-To-One operation?
That's absolutely the goal of delegating, to stand behind a cause the group agrees on. [NASEC] could do with some support 😉 wink wink nudge nudge
I am/was curious about this topic, and if it were easier I'd probably give it a go, because I like the vision of Cardano. I think I might have the technical skills as an ex-sysadmin. But PR is just not my thing. Totally not my thing. Nor am I rich. That is a pity really, because it seems like it would be something I would like to try: out of curiosity and because I believe in and want to support Cardano. But I think instead i'll follow you and do it vicariously. Good luck with your endeavor! I'll be following it with interest.
k going 1000 should definetely help some stake to move around. I personally plan to stake only to small pools.
I subscribed thank you for this information, I am planning on starting my own soon, lots of exciting projects to be made within this space.
Thx for the encouragement. I will keep working then and not give up setting up my 1st BP.
Don't give up buddy!! I will delegate few on yours and you do few on mine... to begin with!! ;)
Thanks, going to start by setting up a relay as you suggest, and watching all your videos :P
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This is awesome, thanks for your honest review on that!
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Great Video, thanks for your honest views.
Good video and thank you for your honesty. Let's face it, the large pool owners with multiple pools have made a mockery of saturation, pledge and the various a0, etc modifiers. IOHK per the link shared in the description asking to 'play nice' doesn't cut it. Atala Prism, the Cardano Digital ID dApp has biometrics coming soon. I don't understand why they can't just programmatically limit the number of pools per Digital ID, once the biometric functionality is in place? I've raised this point in a few forums and there seems to be some acceptance of the idea. I'm going to give running a Stake Pool a chance (with my paltry 3000 ADA as pledge), hoping that a fix is on the horizon...
I agree and I disagree. There is never going to be a way to stop me from starting 100 pools, I can go to my friends who will lend me their biometrics.
The real solution I am coming to believe is a social one. Stop admiring popular people motivated by greed running half a dozen pools and start calling them out as the bad actors they are. Delegators should be smarter, right now they are supporting potential Sybil attacks.
We need to create an environment where it is unacceptable to publicly be seen to be running multiple pools. That's just my opinion though. Pool splitting is a cancer on the protocol.
@@NAcrypto Absolutely! I just think that having something like what I’ve proposed (over and above what you’ve stated) would be enough to disincentivize mass abuse of the system. There’s always the risk of your friends deciding that they want to run off with ‘their’ ID associated pools. Plus, just having the ID biometrics reconfirmed every month or so, should further disincentive cloning? But it’s like the law right? One hopes that people will behave the way they’re expected, but the law is there as a backup (and it’s more explicit to the community that it’s unacceptable). Pool splitting is absolutely a cancer, and will hold back Cardano adoption in my view, especially when talking to Governments and business
@@asoganmoodaly8743 I reckon if we take a hard enough tone on pool splitters we can change people's actions. Telling them that they are helping to perform a Sybil attack that will result in them losing their funds should scare people (as they should be) into not trusting these "nice guys" who are taking the actions of bad actors.
Thats nice explanation...thanks for video.
I think the pledge is a double sided sword. As you've said - now with one ADA over an $ having 2.5 Million ADA is just insane and not something a "small pool operator" can afford to put up on front. But I've also read something about how much pledge plays into pool desirability and if it's below ~100k you shouldn't be concerned if it's 500 or 50k.
Either way, I'm thinking about starting a pool - one question: when you talk about upgrading your nodes, how much do you think can be done through automation?
Having heard all this there should be a future feature added to join micro stake holders funds into one big contract to make a joint pool pledge. This will really boost the feasibility of the little guy or girl joining in the party.
Yes the trouble is that the operator is always required. I believe the true requirement is marketing talent and some core, fundamental Linux administration.
Thank you sir...this video was exactly what I was looking for... The pledge explanation was beyond perfect and thank you for believing in ADA we have a long way to go...
By any chance do you know how or what factors are taken into consideration for the adapools score.. I can't seem to find any logic
I am sorry for the delay Hugo, I try not to pay attention to things that I cannot control and I don't think most delegators look beyond the rankings in Yoroi or Daedelus honestly.
@@NAcrypto those are good points you mention, I'm currently in the process to build a pool and having some questions regarding the virtual machine or local machine... Some places mention having both running 24/7 while others just the VM... Do you have any step by step guide since most of them are pre Libsodium or any Playlist can help me... I'll really appreciate it
Thank you . and will Subscribe due to your Honest review
Thanks for the information and insight. I'm interested in starting a small stake pool owner (less than 5000 ada pledged), but I believe it would be interesting to participate in Cardano and if I can make some ADA then all the better.
Hi there, just to be clear I would recommend a minimum of 300K ADA as this will give you a 1/4 chance per Epoch to produce a block. With less than 5000 ADA without getting incredibly lucky it will take you years to mint a single block.
@@NAcrypto same situation for me. I have the skills, but with the current ADA prices you need to either be very rich or have got in early.
@@NAcrypto Hi there. Great video, thanks a lot for the info. I had a question, though: doesn't the high barrier to entry in terms of pledge actively discourage small SPOs from getting into the market, running contrary to the goal of decentralizing the network? Assuming conservatively that ADA averages around $1 for the next year, $300k to even get a foothold in the SPO game seems... discouraging. Am I missing something? How are smaller nodes supposed to compete in this kind of market where the startup costs are so steep?
@@paulcassidy4559 Finding alternate ways to provide value is the only answer I have.
Thank you so much for this deep insight. Really appreciate it.. Cheers!
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I built a stakepool last year and encountered the same problem regarding marketing. I would run a pool if I could get over this hurdle.
Thank you for your post, it helps others to know that this is honest feedback which I sincerely appreciate.
What a great Video. I already started thinking about to start a staking pool. So maybe the protocol will be enhanced/changed
Thank you for the video!
Quick question, did I miss out any info regarding the 2.5m ADA that you mentioned towards the end of the video?
Why is this number important?
2.5M Ada is the figure where you are highly likely to start producing at least one block per epoch.
Lovely video, thanks, answered a lot of questions... I hope the "entry point" for smaller operators can be eased up a bit somehow, otherwise it makes it hard for small players...
We're way better off delegating as it's a "set and forget" instead of having pools ourselves even just as a hobbies...
Honestly I think that from here out becoming a "small SPO" is taking on a different definition. To purchase the ADA required to have a good chance at standing out today and minting blocks off the back of your own pledge I reckon you need to invest about £100k. I'm trying to make it work with an investment of around £20k and it's been hard. That said if you will stick to delegating please do consider showing your support and delegating to [NASEC]
@@alexandernorris4990 £100k is not a small investment by any stretch of the imagination when the vast majority of folks nowadays struggle to make ends meet... If IOHK and the folks driving the project are serious about making stake pool operation a completely decentralized process that number needs to come way, way down.
@@paulcassidy4559 The goal is to have a small group of 1,000 pool operators (+ competitors keeping them honest) globally not really to have everyone running one as then we are just back to PoW levels of energy consumption. I see your point entirely but in theory you could start a pool with 1 Ada pledge and if you can provide enough value to attract delegators it could still work.
@@NAcrypto Ahhh yes. That makes a lot of sense. Thank you for being patient with me!
@@paulcassidy4559 Of course Paul, I believe that it is vital we discuss these things and your concerns are 100% valid. Whether my answer justifies the state of the protocol is debatable also. I am just trying to let you know the facts to decide for yourself.
Hi, thanks for the video. So, can you recommend to run a steak pool even with small pledge about 3-5k? Is it still profitable?
Hi Alex, no this would definitely not be profitable. Honestly from my experience so far I would recommend a pledge of at least 300k ADA at this point. This will allow you to mint blocks fairly regularly whilst you build up a base of delegators.
@@NAcrypto okay so that is about 300K dollars? mmm I will think about it! :0 Very interesting video though, thanks
So nice and honest information thanks
Great video , thanks mate , I was looking for your pool ticker , if you can share that would be wonderful
NASEC any delegations are greatly appreciated!
I don't understand, I thought Cardano had a built-in protocol that disincentivized the centralization of staking pools by issuing less rewards once they grew to a certain size?
They absolutely do. That size is currently 64M ADA and at the end of March will become 32M ADA. Pool splitters when they grow their pools to full saturation will then just make a second pool so that they can continue to take the rewards for themselves rather than to assist smaller pools establish.
Thank you for the information. This is exactly what I was looking for. I'd love to start my own staking pool, but I wonder if it's worth the effort if I don't have a lot to pledge. Or if it's up to marketing so well you'll get delegates. What do you think the minimum to pledge would be at this point in time?
I believe if you are a truly fantastic marketer you could begin with 10K Ada and stand a chance with a well timed quick release of high quality content over the course of one week.
@@NAcrypto, that's more within my reach. Thanks.
@@StefanHolodnickDailyinvention this will be an ever so difficult road though Stefan. I wish you all the success but remember marketing is everything.
Forking amazing video. Thank you.
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Thank u for this honest video. How are you doing now? Do you have mined some blocks already?
Yes we have minted 10 blocks! Thanks to the kind delegators who have helped us so massively.
Great subject. Can you make a video showing or explaining what equipment you need how to set the software etc?
Or you can do your due diligence and read the documentation developers.cardano.org/en/testnets/cardano/overview/
Hey, thx for the video! :)
I have some questions:
Since Cardano is also focused on poor countries, how could it be managed to run a pool there?
I am not living in a very poor country, but specially in the winter time we have 1 or 2 power cuts, sometimes for some hours.
We are thinking about testing a pool with a Raspberry (with normal power but also with Solar or Wind power) to decentralize from the power net as much as possible.
Internet here is awesome so there is no problem.
Do you have any thoughts about that?
Running the pool itself is now the difficult thing. A Raspberry Pi 4 with 4GB of memory is sufficient for a single node so you would need three. The trouble is that if you need 300K ADA as a pledge to get noticed then you need to find at today's price £150K to invest into ADA.
Given your circumstances it would not be advisable to run a pool where you live.
@@NAcrypto how do we expect poor countries to adopt crypto and run nodes when, for a lot of these people, their tech infrastructure is many times not dependable?
Very helpful video thank you!
You're welcome! Glad we can help.
I have been a long time Cardano Hodler and want to help in decentralizing ADA even further.
Should I start a pool on the testnet first and then mainnet or just straight to the main?
Testnet is there for exactly this reason, get some experience without any risk to your funds.
@@NAcrypto Just found your video on building a testpool and making my way through it now. I appreciate your work 🔥
I think to help the cause for smaller pools is to lower the saturation to 15 - 20 million per pool. I seen some pools close down.
K=2000 would put the saturation level at 16M ADA.
Nice vid -- surely some ansible playbooks and some CI would make the upgrading plainless...
The trouble is that the upgrade process changes. Sometimes things are necessary to change like config files others not. It's a reading and comprehension exercise as well as a technical one.
Thanks, very informative!
AWS can't shut down the majority of the Bitcoin nodes. I find it interesting that as the price of ada goes up the harder it is to create a stakepool, that doesn't sound like increasing decentralisation.
I would completely agree with you on this point. In fact I'll be making that statement in my next video as well.
Thank you for the info. I've invested in ada and I'm learning, including about stake pools. I'd be very interested to know what the process of minting a block is. Ie. Is it just a matter of hosting software that competes automatic checks or does a stake pool operator have some independent input/responsibility? Also, if subcontracted to a cloud server, how does a stake pool operator ensure integrity? How are your delegations going and what is your pool called?
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So hypothetically if I run my own staking pool, and my marketing is not working out, I won't get paid anything right? You need those blocks correct? If you have too little delegators the chances you will produce blocks are very very small right? Or do you get paid for at least creating a good working server and delegating small amounts of ADA from the beginning just for having the server?
Yes, running your own staking pool is essentially starting a marketing business. If you don't have other people's delegation you are just wasting money on hardware as the difference is so absolutely tiny when compared to the results from delegating. A percentage of a percentage.
PoS is trying to remove the need for millions of servers, there is no incentive to build a PoS pool unless you can attract delegation.
Very informative, I spent the last 3 days reading on how to setup a pool, thinking my 30K ADA would be enough to run it with profits. Managed to get it running in docker today, but will let go of this dream (o: after watching your video. appreciate your honesty. Please share the name of your pool once you reach the 2MIL pledge. I will be happy to delegate all I have to your pool at that time.
Hey Jerrel the name of my pool is NASEC and actually we are approaching 3M Ada delegation at the moment.
@@NAcrypto that's great news. Nice growth in 3 months. This again gives me some hope (o:
@@NAcrypto As promised we delegated the first 7835 ADA to the NASEC pool, More to come next week once released from Binance. Please keep sharing your thoughts (o:
@@jerrelsmith thanks again Jerrel, we'll keep you as informed as possible!
Hello can i ask u a question, these stake pool operators where do they get their revenue from , Many thanks for your detailed explanation. Thank You
Take a look at my "How much do Cardano Stake Pool Operators Earn" video I believe it will give you a helpful answer.
Does it still make sense to start a steak pool? I personally have very little ADA. But if I were to find friends and acquaintances and have them pledge there ADA with mine, and start a stake pool in Azure or AWS, would it make sense?
Fortunately, the cost of running the servers is going to be negligible for me.
Excellent video. Can you recommend a specific linux online course to brush up on my skills? Its been a few years.
Actually no honestly I have learnt mostly by doing HOWEVER I know this sounds seriously old school but How Linux Works is a seriously good read.
Thanks for the video. Would a private stake pool give you any sort of earning? That would bypass the need to have a good marketing. I checked ada's website and they seem to say that you can double your stake each year if the pool is private.
The only reason to do such a thing would be if you own 32M Ada or more. That way you are saving 340 Ada per epoch plus a 1% fee. Otherwise you are sharing the cost between other delegates so realistically there is no point as the saving would be so minimal it wouldn't offset the cost.
@@NAcrypto Thank you so much for replying back. I guess folks that have not been able to amass a big amount of ada at the beginning are now unable to do any of this since the costs are so damn high. 32M for a private pool.... If i had 32 M in real life, I wouldn't even invest in crypto :D.
Great video, thanks!
Are there charity Pools? That might be a interesting choice I would delagate to.
Golly, it was recorded a year ago. I wonder what's your opinion now.
Wow a year ago.... Time sure does fly.
@@NAcrypto LOL :) It does, doesn't it? So, should anyone start an SP in 2022?
I have just started lookking into things not having more than 2k ada to pledge..lets see
I'd love to start a pool, I have a background in IT but nowhere near even 50000 ada. Do you have any videos on building ada other than the obvious? Thanks!
There aren't other ways, you buy it or earn it as rewards. Other solutions are most likely gambling, I'm afraid I won't be drawing lines on graphs all too soon.
@@NAcrypto for now i am taking my meager ada coins and staking them, I'll keep buying and staking in smaller quantities to hopefully build up over time. basically doing the same with dot
Is there a hardware device that you can store your Ada on and still delegate it to a staking pool through Daedalus?
Trezor or Ledgers are fantastic hard wallets.
@@NAcrypto yes they are, I have both but can't seem to find a way to get Ada onto it. What is the process?
Cardano needs to fix the staking rules, to make it more de-centralised.
There is a trade-off by doing so, more stake pools, more environmental impact. Where do you draw the line?
Hey! This is a great video! Thank you very much!
I’ve been thinking extensively of building my own stack pool but have the worst feeling of losing it all due to my lack of knowledge. My experience isn’t at all technical but I’m so driven by the mission to help make the network even more decentralized.
I have 73k Ada for a pledge, do you know if things will become more safe in the future? Maybe best to hold off till we can build stakepools from our hardware wallets, as what Charles Hoskinson mentioned late last year?
Security is never going to get safer than today only more difficult in my opinion but maybe I'm justifying my company's existence 😉
You can already use your hardware wallet to store your pledge of your pool.
@@NAcrypto really?? So then what’s the danger of truly losing your pledge? How could it happen?
I don't have enough to pledge, but I've got the technical skills. What do you think of a service where someone with the ADA and no technical skills could start a pool, like SaaS?
Not only does it already exist but it doesn't really work very well due to the notion that the Stake Pool Operator is the person in control of the keys at the end of the day thus there is a trust element involved in keeping the pool running.
@@NAcrypto thanks for the reply. Do you have one example of stake pool as a service?
Are you automating the version upgrade process?
This is not possible due to the fact that it is not a standard process at this time. Sometimes new configuration files are required, sometimes certain parts of the program are deprecated such as the LiveView and so your configuration requires updating. The entire process tends to be a little different for each "major" upgrade.
Thank you, very informative!
I’m a broke 19 year old with an idea to start a charity stakepool with a twist. This video is the start of my research.. wish me luck.
Also anywhere I can go to find more info on setting up?
Best of luck Chase, remember this will take up a considerable amount of your time. Weeks if not months to be successful. My other videos will hopefully help you.
So Cardano's stake pool rewards calculator suggests that staking a pool of just 10k Cardano would net the operator over 200k ADA annually, which seemed ridiculously high. Is that calculator an errored tool or am I missing something?
Hey Jason that calculator is so damn hard to drive, everyone gets different figures. We just discussed this in telegram and I shared my calculations. Basically with 10K as a pledge if you could somehow fill the remaining 31.99 Million remaining ADA to create a saturated pool it looks like you could earn ~44k ADA annually.
The thing is you are very unlikely to achieve a fully saturated pool. Here I am nearly 6 months later with a 50k pledge and only 120k in total.
Also what about the costs of running a pool? You need at least 3 VPS at a minimum as well as monitoring and the skills to build them securely such that you are not going to have to deal with being hacked. Our costs are ~£100 per month no matter if we have 0 ADA or 32M ADA delegated.
@@NAcrypto thank you for your thoughtful reply. So to sum it up, if I'm hearing you correctly, the calculator is busted.
@@millertainment haha well probably user error but I have yet to find a user who gets reasonable figures
Hi! I would really like to start a pool, however i'm not exactly sure how to in 2021 , i've looked over a bunch of articles and videos already but some seem to be slightly outdated in regards to the technical aspect and others . I have a marketing background which *fingers Crossed* will be beneficial, just looking to be pointed in the right direction in regards to "pool mentorship"(at least for abit), setup and registration, from relays, websites and all. Any recommendations?
Coincashew has the most simple guide and my recent building a testnet video might be useful. IOHK provides SPO videos as well.
@@NAcrypto Beautiful, Thanks for the help! Much appreciated
It is somehow frustrating because my pool is running for several months without any block... Server costs eating my money.. I keep my producer + 2 nodes online for another few months. But I think the time will come once I have enough when I don't get a single block to be able to pay the costs at least..
Jay I would urge you to join the Telegram channel. You are the kind of pool operator I want to help and stand for in this community. I cannot do much yet but I have aspirations to do so. I am reaching a fever pitch with these damn "pool splitters".
With ADA price rising and only company like Binance can create staking pools without pledge. Small ppl should come together and form a group. We should stake all our ada into a small pool so that it attract more users and then move on to the next pool and so on.
That's exactly what some pools are trying to do. There is even a delegation sharing group out there that rotates who gets delegation.
You mentioned at 2:20 that the 500 ADA fee for registering a node is reclaimable. Can you point me to the documentation on that? I didn't see anything about that in the official Cardano docs on setting up a node. That removes a lot of the risk of starting a stake pool as a couple of VPS instances are quite cheap.
The 500 ADA is returned to your Rewards address.
Sources:
forum.cardano.org/t/stake-pool-deposit/40994
github.com/input-output-hk/cardano-node/issues/1821
@@NAcrypto Thanks!
The document says no minimum and maximum
It's been 7months since you posted this. Does everything in video still apply? I have a 1000 ada to pledge.
Yes I believe it does.
Do you think that a person who has no knowledge about programming or computer science could learn to set up a pool from scratch? And how long would it take?
Yes they could, though they are likely to make mistakes when running it and not understand how to actually fix them. I've helped several people rescue their ADA which they had put into wallets in their pool and who couldn't get it out themselves.
Thy for the open words. I thought the last weeks for running a stakepool which is technically not an issue. but you see the actual price of ada... I thought of adding fee for delegeated to charity like some do with gaia or support artists. There are enough issues locally which might be happy to get support... But 2.x million ada is .... FAR away. :(
Maybe I can accumulate more when the cold beartimes come and altcoins usual break down in price. :(
I love your video, i will delegate to your pool but I don't know if my vote amount will not be in my wallet when i delegate. , not sure how that works,
Do basically if you don't have millions of dollars your not minting any blocks and thus its useless to start a stake pool?
Yes but starting a stake pool is not a requirement to receive a return, it's only a slightly increased yield over the one anyone can achieve by staking their own Ada without the cost and risks.
Do you know why Daedalus desktop version is so slow ? Everytime I open it, it is syncing an hour before I can do anything with my funds ? Is that a dangerous sign ?
Btw, if you won the lottery now somehow and you get offered 100k ADA which you have to stake for 2 years, or 5k DOT that you have to stake for 2 years, what would you choose ?
Daedalus is running a full node and has to sync the full blockchain to your computer. This takes a lot of bandwidth and takes a lot of time. That's why it is so "slow" it speeds up to a good pace once it has finally syned.
I am all in on ADA for it's mission. DOT to me would be like having a few more £s which I would rather honestly have the FIAT of than DOT.
Totally a personal response though, I am not looking to disparage DOT.
So if 1 ADA costs 100$ then registering a pool would cost "only" $500'000. This sucks so bad
ADA at $100 would mean a market value of £2.4Tn or six times bitcoin's current size. During that transition it would be possible for us to vote to lower the cost of such fees. Also this is a redeemable figure. And finally it costs 500 ADA so you are off by a factor of ten, it should be $50K
How do you start a stake pool if you’re poor?
The best marketing the world has ever seen.
Wait what 500 ADA?????
I had no idea. That sucks. I don't have like 700$ spare
How is 3-500 staking nodes more decentralized than BTC’s 11,558 active nodes last month?
Because 3 organisations control the majority of the hashing power of the entirety of the Bitcoin protocol meanwhile 3-500 staking nodes is 100 times or more greater than that number.
@@NAcrypto I see... So out of that 11,558 active BTC nodes are almost all of those consolidated into the three entities you mentioned or are those three entities just supremely powerful compared to the other 11,555?
Hi, I'm a graduating CS student interested in running a staking pool. One of the most important challenges for me is not the technical aspects, but more the social dynamics and marketing side. Sorry to say but this video is pretty disheartening/demotivating because I obviously don't have a huge capital to pledge and don't like the idea of having to invest a lot into marketing + customer relations. It seems to me like the protocol is doing a bad job of supporting and incentivizing young blood to take the risk. I'm confident I can build a 24/7 reliable staking pool with high performance and motivated to take that initiative, but not confident about being able to manage people relations and fighting for attention.
Like I said in the video, running a Cardano stake pool well is not a massive technical challenge for professionals. Anyone with a small pledge and amazing marketing can succeed, I understand you feel your technical skills should be what matter but I'm afraid they are just not meaningful in comparison to marketing.
The protocol is doing exactly what it is designed to do, attract the right type of people to operate stake pools. Those people will have a public presence, a message and a mission. That is what the protocol and the ecosystem desires.
I agree the cost of pledge is high but it is not high relative to starting any other business and the capital outlay is far more liquid.
@@NAcrypto Ok, then running a stake pool is not for me. Thanks for the help!
New sub here 👋🏾
What is the best way for me to contact you? You have no idea how many videos I’ve gone through to find this one. We are looking to start a small staking pool, but we have extreme amounts of connections to make it a large one. I would really really really love to speak with you.
t.me/nasec_delegator_chat Join our Telegram lots of people are looking to get in touch and I'd rather chat in a public forum now. Saves answering the same questions again and again, hopefully we can build a nice little community.
Hi, is still possible and an option to be a Cardano validator?
That is literally exactly what this video is about :-)
I’m keen to set one up. But not sure I could! Computer literate but not in the trade and never used Linux.
Might be best to pass on this one Andrew, you would have a few months of learning at least to be an effective and safe admin. You'd be at risk of deleting all your funds that you pledge! Not a fun position. Please consider delegating with [NASEC] we're supporting plenty of small pools get off the ground.
@@NAcrypto Thanks for the feedback. Yes, certainly don’t fancy risking my pledge! Is that a significant risk?? My understanding is that ADA staking pools don’t have slashing. But you mean loss from operator error? Thanks again!
Chicken and Egg problem. Need delegators to be able to mint new blocks, can't attracted delegators because don't have enough ada to guarantee rewards every epoch.
Spot on Jason. 2 solutions however, 1 have a tonne of cash to mint blocks by yourself. 2 is to market well enough that you attract people who support you despite it costing them until you reach a certain level.
I WANT TO DO IT!!
Then time to join the telegram channel
its hard because most of big influencers already have 2 or 3 pools saturated and they keep creating more and more... if you are new and small you need to understand that maybe your pool will not be profitable during the next two years.
That's correct Wise, but not a healthy place for the network. I am becoming of the mindset that we need to take up action against these pool splitters.
How many Ada per block?
Down to 700-800 these days.
Is your pool saturated? I have a fare amount to delegate
Not even CLOSE! 1.6M live stake so if you are a whale we'd LOVE to have you. We've grown so phenomenally quickly recently and I cannot tell you how much any support means.
What cloud provider do you use for the virtual machines?
We use dedicated OVH servers.
@@NAcrypto OVH?
@@MichaelBrashier well we used to use OVH as they are the biggest provider in the the EU. Now we are running on our own servers out of a local data centre.
Can I create a stake pool with 100 Ada only ?
No you will need at least 500 ADA just to register a Cardano stake pool. If you'd like to earn interest on your ADA though please consider staking with NASEC.
Nice one thanks
How many servers do you use for being a stake operator?
We have several physical servers that we have our nodes deployed across.
@@NAcrypto thank you.
hey man . is there any documents to running a stake pool for dummies :)
Running no but starting there are the IOHK / IOG stake pool operators videos and the setup guide by coincashew is very straight forwards.