What is the minimum dots to nominate?

I saw this Reddit thread - and I have the exact same questions: https://www.reddit.com/r/dot/comments/j61fjt/what_did_i_do_wrong/

Tried to get an answer in many places now. Hope this might be the place to actually get an answer!

Thanks for your support!

Hey there! ‘Waiting Nominations’ means the validators you nominated are not in the active set this era. Most of those validators regularly get elected though, so I would just wait until the next era and see if it changes. Eras are 24 hrs and progress is shown on ‘staking overview’ page.

As a side note I would say two things:

  1. Zug capital (also p2p.org) are kind of pulling a ‘Walmart’ on the network, flooding it with validators that charge low fees, and they profit off of the large number of validators. However this isn’t good from a security standpoint… the whole point of a decentralized network is removing single points of failure.

  2. If you have a lower amount of DOTs you are looking to stake, you make need to nominate more obscure validators anyway in order to qualify as one of the 256 rewarded nominators. The attested validators tend to get filled up by big-dollar nominators and little guys can’t get in. Check you “account actions” tab to see if you have any oversubscribed validators. If there are any, you won;'t be earning rewards from them.

Good luck!

this. can be super cumbersome for new people, wont it chase them to the polkawallet instead where you get 12% or so?

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Yeah or Kraken? I suppose. Hopefully these newcomers also understand the agreements they enter into with their custodians - I know for instance Kraken (who gains control of funds when they stake them) does not offer any insurance or guarantee for the funds they stake.

Also I’m really hoping people interested in the success of Polkadot can come together to brainstorm ways to incentivize active - rather than passive - network participation,especially with newcomers to whom interacting with the network often seems daunting at first. Ultimately I think that 12% return from custodial staking means very little if I have done nothing to contribute towards the security of the network upon which the value of my stake depends. If the network dies, so does my stake. I think it falls on stakeholders to accomplish making the network more beginner friendly: with on-chain governance live now, we really have a self-deterministic system. There’s no cavalry but ourselves to call. Surely a challenge we can rise to achieve?

ok, but where to start? what can we do? and note that a lot is still abstract and hard to capture

@mgreijm thanks for your reply.

I would check out youtube for nominating tutorial videos, like this one by bill laboon. He talks about how to gauge whether a particular validator is trustworthy, and how to maximize your profits. Also noteworthy is that you can make higher profits than 12% by nominating yourself. Good luck let us know if you have other questions!

i am off, this is frustrating and incomprehensible