I am worried to self stake 50’000 VID. That is to much money for me to have on a hot wallet. Why is that? I mean i understand that the worker needs to have ongoing access to some ETH and also to some VID. But why can’t I just self stake lets say 1000 VID and have .1 ETH on my Worker Wallet? And then stake 49’000 VID trough the Staking tool for which I can use my hardware wallet. I read somewhere on this forum that I can put in the 50’000 self stake to start the worker and then just Delegate another 50’000 to that same worker and with that i will be able to withdraw the self stake. If that is true then why even bother with the self stake? isn’t it just an unnecessary attack vector?
Or is there an option to use my Hardwarewallet(Trezor) to do the self Staking?
The worker needs to have access to Wallet private key to sign the proof of transcoding and submit to VideoCoin network. Authenticity and integrity of the of the transcoded data is crucial security aspect of the VideoCoin network. The purpose of self-stake is to ensure this security aspect and build confidence to content publishers. The amount of self-stake, I think, may evolve based on feedback from community and the growth of network.
Hey I am new to being a worker here, but I have owned VideoCoin for over a year now. Is it possible to lose the money that you personally stake?
Or does it pretty much just act as a placeholder that can be withdrawn later at the same amount?
Staked tokens can be withdrawn at the same amount. In addition, Incentives are paid every month on 25th.