Buy $150 of shit yesterday

>Have like 0.02 BTC or something
When BTC hits $1MM that while be worth $20,000.

Also a recent ARKiddie but the way I understand is that instead of everybody mining on their own, ARK has this thing where people volunteer to be "delegates" and the delegates get to produce blocks. Delegates need votes from ARK users to be, you know, prominent in the community (top 51 delegates get to have some extra power/blocks or something, not sure on that).

Basically you vote for a delegate and the delegate works for you. In exchange for the vote, the delegate pays you some ARK from the pool it has. If you have more ARK in your wallet, that means your vote is more important so the delegate pays you more. Every delegate has its own thing but there are some calculators that calculate how much ARK you get on a daily/weekly/monthly basis if you vote for a certain delegate (and have a certain ARK balance in your wallet)

Also voting is 1 ARK, the transaction fee is 0.1 ARK (I think?) so to get your rewards from the delegate you'd have to spend 1.1 ARK. Although it will be decreased in the future (no idea when 2.0 drops)

Bear in mind it's my first week too so this all might be jibberish

Thank you user, I will try to find a calculator.

calculator.reconnico.com/

so if you started with exactly 501 ARK and voted for calidelegate (or any other, i use biz personally), you'd end up with 500 ARK in your wallet. (you only vote once, you can cancel your vote for a further 1 ARK i think). Then, every delegate has its own rate and pays you periodically. For example in the site I linked it says calidelegate pays you 1 ARK a week for your vote carrying 500 ARK behind it. If you started with 5001 ARK and voted, you'd get 10 ARK per week and so on.

you're welcome but still, do your research. I learned half of this while writing this post.

It seems like it's not really worth spending the ARK for delegate voting unless you have a lot of ARK weight to throw around already. Like I said, I only have 54 or so, I was planning on investing some more anyway.

I'm just testing the waters with money that doesn't matter.
I wouldn't care in the slightest if it all disappeared, it's not even hooker money.
NOT BROKE, JUST TESTING
Haven't played with crypto since 2012, getting back in on this shit, just curious.
The point isn't to earn, I'm just seeing how the market changes with each coin over time, so I bought a bunch I thought were good to see what would happen.
Next week I'll probably put $1k or so into one of them if I think it's going well.
Jumping in after a week of loosely monitoring the market's still stupid, but fuck it.
Still won't be too mad, imma buy that much soon anyway. Want some bitcoin back

>Miners pay YOU for the privilege of mining
What the fuck?
>Ah yeah bro, node #45681, they're top shit, really take care of me, they're getting my vote!

lol poorfag I drop 500 per position

Yeah that's what I did at first, had 60 ARK. On Monday bought 100 more and thought you know what, fuck it I can spare 3 bucks. Not a great investment but the faucet on biz_classic gives out x3 rewards for voted users and I used to be a degenerate gambler so it makes it fun to roll every hour.

Wouldn't of bought Red, but nice anyway.

So when you vote for a delegate, what are you actually voting on? What benefit does the delegate receive? And what does the delegate actually do besides give you a little bit of Ark?

>cripple
>dark
you had one job

holy shit this thread is so adorable

i remember when I was this clueless. good luck everyone. Don't diversify with lunch money

The delegates want to be in the list of top 51 delegates because if they do, they get more ARK basically. Top 51 delegates are called forging delegates

From ark-guide.readme.io/v1.0/docs/what-are-delegates

>A forging delegate is tasked with verifying transactions on the network. As a reward for this, a forging delegate receives 2 Ark per block as well as any transaction fees within their block. This reward cumulatively provides approximately 150,000 Ark per year to a forging delegate. There are currently a maximum of 51 forging delegates at a time.

So, you vote for them to make them forging delegates. In return they share some (not all) of the profits with you. But the vote is a one time thing so at some point it pays off I guess.

Thank you for all the information user, I really appreciate it.

No problem, helps me too. I didn't know the benefits of forging delegates in this post Like I said, slowly learning. We're all gonna make it

Just put it all in Ark dude.

That's peanuts, so just go all in on something promising

Why would anyone be stupid enough to vote for someone who isn't one of the top 51, then?

because people can get knocked out of 51st place, sometimes
a single whale movement can cause this

To hopefully get them in the top 51. Like so: medium.com/@samuelzwaan/ark-delegate-the-foundry-how-we-want-to-grow-ark-859d8c6752af

That's just one way to encourage people to vote sub51 delegates. I'm guessing there are some more, like delegates promising voters high return rates if they get in at ground floor. Also, there are some major holders and if they take back their vote (which they can, for just 1 ARK) the delegate may fall off.

Though I'm a noob so I just sticked with biz

I'll just say "Fuck it" till I have enough ark to buy my own system into the top 51, if mining hardware power is irrelevant then nepotism will be the way to go