 Welcome to Digital Asset News. Take a top stories in crypto and break it out of bite size pieces. So today I want to do something a little bit different. I want to revisit the video that we did where we talked about how to stake Theta. And because of Theta mainnet's 3.0 launch, which was just done on June 30th, which was two days ago, or three days ago, today is July 3rd, 2021, I want to just revisit and talk about a couple of things. First, we want to talk about Theta and exactly what it is. Then we'll talk about why it's so important and we're going to see that through a Google data center and how massive those are. Then we're going to take a look at the node limits and what it actually is as far as the base of requirements, what you could actually expect as far as rewards, and then we're going to go do a walkthrough as far as the staking process. So the first thing we need to do of course is to talk about Theta and what exactly that is. So Theta is a cryptocurrency and blockchain project and it is one of my holds, one of my favorite holds and I think it's going to do very well and really what it comes down to is this. And it kind of gets summed up here by Steve Chen, the co-founder of YouTube and he states, Theta's innovation is set to disrupt today's online video industry much in the same way that the YouTube platform did do traditional video in 2005. One of our biggest challenges, I'm going to read this again, one of our biggest challenges had been the high costs of delivering video to various parts of the world and this problem is only getting bigger with HD, 4k, and higher quality video streams. So this is why I'm kind of, well I'm really bullish on Theta and what it's going to do in the near future. Now I can't predict anything as far as like is Theta going to blow up tomorrow and is it going to be $50 on August 3rd? No, but I can tell you that what are you doing right now? You're watching this video and a lot of people are working from home and that takes bandwidth. A lot of people are uploading video and that takes bandwidth and a lot of people are doing a lot of things with streaming service and that takes a lot of bandwidth and how it all works with Theta is that they're going to have people download a node which we're going to do today and it has them stake their t-fuel or the Theta, we're going to stake our t-fuel and allows people to cash their different streams in these points or in these nodes so it can free up a lot of resources and Steve Chen who co-founder of YouTube can continue to run YouTube and all these different streaming platforms and they can actually give this 4k and HD types of things without creating a bunch of data centers with massive amounts of money and electricity and everything else that is just super duper expensive instead of doing that they're just going to use nodes in a decentralized way, nodes that I'm going to put on, maybe you're going to put on and the thousands of different nodes that are located throughout the world and they're going to cash all these different streams and makes it a lot easier and of course for that you're going to earn t-fuel and Theta. So just to go back real quick, if we're taking a look at the network stats, here's the networks or nodes or edge nodes, guardian nodes and enterprise validator nodes. Now if you'll notice one thing there's a lot of different nodes throughout the globe right here, right? Looks pretty good. Why is there only 16 enterprise validator nodes? And the reason is because those validator nodes they have like a million Theta and those are the ones like our Google, Sony, Samsung, CAA which has all the different Hollywood types that they have under management, all the different movie stars and video or music celebrities that are out there, Binance, Blockchain, Gumi and a private equity institutional group. Nice. So there is just that part and then of course we've got guardian nodes which are people who stake their Theta which is fine and that secures the network and there's the edge nodes which is all for just to cash all these streaming services so that they don't have to build these massive data centers. So why is this so important? Well it's because they're going to save a ton of money on these data centers and when I talk about this and I think it's important that you actually take a look at what these Google data centers actually are and how big they are and when I show you this video I want you to think about real quick is how much it would cost to build these data points these servers and everything else just think about it how much this would cost and then to actually operate it we're going to go through the first 20 seconds of this video then we're going to fast forward all the way to two minutes and 50 seconds so you can see the actual grand scale of what is going on there you're going to say okay that makes sense to use Theta so take a listen. A data center is the brains of the internet the engine of the internet. It is a giant building with a lot of power a lot of pooling and a lot of computers. Row upon row upon row of machines all working together to provide the services that make Google function. Okay so right there so if you're a business do you want to spend millions and millions and millions upon dollars just to run these data centers so you can cash all different videos that are being uploaded into YouTube and whatever type of streaming service that you have. No that's super duper expensive why wouldn't you just pay a little bit more and just have everybody in their computers just pretty much cash all these things and be a distributed decentralized type of data center like we have right here and that can be done right now with the power of the internet and blockchain so this is why Theta is needed and another thing that I'm bullish on Theta is that they're not working in to fight YouTube or to try to wrestle this this control they're working in conjunction with them they have Theta TV which is a streaming service for videos I'm actually on there but they do a lot of these things right here which could help them and that's why Google is one of their partners that's why Steve Chen is so excited about it so I think this is a pretty good project so let's let's fast forward to about two minutes and 50 seconds and just take a look at the grand scale of what is going on here as far as these these massive data centers Google runs our data centers warmer than most because it helps with the efficiency you'll notice that we have overhead power distribution coming from the outside yard we bring in the high voltage power distributed across the bus bars to okay now it gets boring so anyhow that is essentially what you're looking at that's the grand scale that you'd have to deal with to just to keep up with the demand for streaming services so when you take a look at Theta you're like this is a godsend this looks pretty good and I think we should get into it so let's talk about node limits as far as like when we want to actually stake our t-fuel or our Theta and just real quick Theta is the governance token that is what secure that is what was used for you know for it to for the entire network and then t-fuel think of it kind of like the currency of the Theta network that is what people like me get paid in you can actually pay for your tip your favorite creators on Theta.tv so t-fuel is kind of like the currency and Theta is just the governance token so that is what it all is so let's take a look at the limits and if you can see right here at this time and remember this is July 3rd 2021 so things may change so always check back it says at this time there is a minimum of 10 000 t-fuel and a maximum of 500 000 t-fuel that can be staked to each edge node and remember this one is just about we're just going to deal with the edge node for the guardian node if you want to stake your Theta on that it's the minimum is a thousand I think the maximum I think is gosh up to I guess 500 000 but if you have that I think you're okay so minimum is a thousand for Theta but for this one for the edge node which is where you get paid in t-fuel the minimum is 10 000 t-fuel and right now the price of t-fuel is around 46 cents per t-fuel so you're looking at around five grand just to start staking unless you've already done this before so the next question then is well if I'm going to have all this t-fuel I'm going to start staking which I think is a good idea that's just that's just me is what are the kind of rewards that I could potentially have when I'm doing all these things so that's a great question there is a great website called Theta Board.io and it starts off here this is you know great stuff oh t-fuel is 37 cents excuse me so as you go down here you can put in how much t-fuel you have let's say you have a thousand so per day let me blow this up so you can see what I'm looking at so we've got a thousand and that means that per day you can make 0.34 t-fuel per month that's about 10 t-fuel it's like three or four bucks and then per year 46 dollars and that's at just 1000 t-fuel and then over here is the guarding node parts so for 1000 theta per day is a dollar per month is like 11 bucks and per year 379 excuse me 379 t-fuel so it depends on what you want to do and then of course you can get this now here's the thing right now July 3rd 2021 it's not that much for what you are actually gaining in but as time moves on I don't expect the price of t-fuel to stay the exact same especially as this network really increases because I think that theta is going to be in high demand so maybe in the future we could see a t-fuel at two dollars so that would mean like if you just had a thousand and it was two dollars and you put ten dollars in let me do some quick math it's like 20 bucks a month for doing absolutely nothing not too bad and then you know per year 124 so you're looking at like 250 bucks per year just for doing absolutely nothing and that's only at a thousand t-fuel let's take a let's let's kick it up a notch right let's take a let's do 10 000 over here in guardian nodes let's do oh wow yeah 10 000 so what do we have here so 10 000 now we're looking at now we're looking at good stuff so we're looking at about a dollar a day per month 38 bucks for doing nothing per year 467 dollars for the guardian node you're looking at 10 dollars per day or 116 bucks per month or per year at $1400 and again this is only at the present cost of like 30 cents let's say it's I mean man can you imagine if it's two dollars per month you make 200 bucks then per year 2500 bucks just for doing nothing so that is how it all lays out as far as the rewards you could potentially get now this is not a hundred percent accurate this is all about how much when you actually download the nodes and you're able to keep your computer up and running at 100 percent of the time and online that's pretty important so just make sure you are aware of that so coming back let's take a look then at how to actually do this because I think that's the most important part so let's take a look how to actually stake it so how do we do that well it's pretty simple we're going to go to actually we're going to go here to theta token.org and there will be a link in the description and you just scroll down scroll down scroll down and it says they can download the theta guardian node or the theta edge node for me to make this simple today I'm going to download it for my mac so I'm going to click on download for mac this is going to come up and it's going to say okay do you want this theta edge node yes and I'm going to save this to my desktop to make it super simple and then I'm going to go to my desktop real quick I'm going to double click that file it's going to open everything up and then for a mac it's going to look a little bit different it just wants me to put this in my application so I'm just going to drag it over here on a pc it's going to look a little bit different but you're going to save it somewhere and then it's going to be dropped in and now depending on where you saved it you would just open up your theta edge node okay so we've opened up the theta edge node beta application and just you know like the wallet over here this is the wallet for this edge node right here but we already have or you may already have your wallet which we're going to take a look at in a second and then there's a couple things on the left hand side you can watch where if you click on that you can watch the different streams on theta or you can just go to theta.tv it's the same thing you can broadcast from here if you have a stream key go right ahead and then there's different jobs which I'm not sure about this one but it looks like you can gain t-fuel just by edge caching and it says cash jobs will be started as soon as they are assigned edge compute compute jobs will be started as soon as they are assigned but the one that we're looking at is stake t-fuel so this right here this edge node holder this summary we're going to select all this and we're going to copy it and then we're going to click on that x in the upper right hand corner and what we need to do now is go back to our wallet which you should already have a wallet in place if you don't you can use the wallet right here and transfer all your t-fuel if you wanted to but I already have my own wallet that I created a long time ago now we're gonna take a look at that which is jump over there so here I am at my wallet and I'll put a link in the description for not my wallet but how to get there it's really actually easy if you go to the theta token at org the same one up on the very top it says network news team roadmap docs wallet if you just click on that it'll take you to actually create a wallet this is mine so it says the keystone and the wallet and the password I'm going to put those in right now I'm going to stop this video for a second so you don't see that would not be good and I'll jump right back so now here I am and of course your wallet has your theta and t-fuel you can send receive it what we want to do is hover over the stakes which you can see that's right here it says stakes and what we want to do is we want to deposit a stake or withdraw a stake we're going to deposit a stake and we're going to send it somewhere not send it somewhere but we're going to sign it because it's because your your theta or your t-fuel that you have it's not going to leave your wallet you're just going to sign it to a node and that's going to be your node so let's see edge validators guardians and then delegated guardian node just so you know if you don't want to deal with all this you can click on delegated guardian node and just pick somebody and then go from that and again I like it because like in Ethereum 2.0 you have to send it to somewhere else but in this one you don't really do that actually stays in your wallet just to be sure let me jump over here this is a medium post from theta itself and it states like all theta staking there is no risk to your tokens because stake tokens can only ever be returned to the staker's wallet regardless of whether a node fails is compromised or any other issue so essentially you control your stake theta tokens they don't leave anywhere so that's what I like about theta itself so I'm going to go back real quick so we're going to click on edge node we're going to click continue and remember that edge node holder summary that big long hash where it was like just a bunch of letters and numbers and things like that we're going to paste that in there be and it's going to say enter the amount to stake remember that the minimum is a 10,000 so I'll just put in 10,000 makes a lot of sense right now I'm going to deposit the stake to that node click right there and then okay it's going to ask us is this what you really want to do so I always take a look at the first parts here and the last part just to line them up 0x65c and the last one uh 5931 so let's double check just to make sure so here we are 0x65c 5931 so everything matches up let's jump back and the transaction fee is pretty cheap 0.32 fuel not too bad enter the wall password I will put that in right now and I'm gonna click on confirm and deposit stake and it states your transaction is now being processed so it may take a little bit of time but then it should go into the node so that was pretty quick actually in like 10 seconds it came up and it says here node type lead edge here's the holder blah blah amount 10,000 has not been withdrawn from here let's go jump over to our actual node which is on the computer or on my Mac and see if that actually matches up so yeah looks like we are set looks like the block is there stake 10,000 bill of balance but see right here it says submitting proof of uptime just so you know with these edge nodes for you actually to gain the maximum amount you have to have your computer on and up and running that's the whole point of the theta network because there people are caching their streaming services or their data in your node so that it can actually be there for when it is actually needed and that's the whole point of not having a data center we just have these decentralized nodes such as a theta edge node and that's pretty much it now look you can do this the same way for the guardian node if you want to actually state your theta but for me i'm just going to use this for the edge node and just go from there so that is it for the video hope this helps out let me know how it goes i've done this before in the past personally and i've used the same service and for some reason this edge node would not stay up or it wouldn't download an update and just seem like it never would work so i am hopeful this actually works from what i understand they've eliminated some of the kinks for mac users hopefully it works for everybody but we'll see so anyhow let me know if that helped you out but that is it for today so first of all thanks for sticking with me all the way at the very end i appreciate it if you like the video you found value give it a thumbs up give it a like also consider subscribing and that is it for today so thanks so much for watching see you on the next one