Are you mining Steem Engine coins?
Recently I found out that I can mine certain tokens on Steem Engine.
What it means is that I can not only buy token A, not only I can earn it by writing about a certain topic (like investing on SteemLeo) or inserting a certain tag (like palnet) but I can also buy token B to mine token A. To do this I have to stake token B and then rewards in token A should start to appear in my Steem Engine wallet.
This way I've been mining ENG with 1 EMFOUR, I've also been mining PAL with 1 PALMM, and today I've started mining LEO with 17 LEOMM, SCT with 10 SCTM, WEED with 1 WEEMM and NEOXAG with 1 NEOXAGM.
ENG doesn't mine very much for me. Within the last few weeks or so I've only mined 16.5 ENG. With PAL it's hard to tell the ROI because I've been also earning PAL while posting on PALnet and both earned and mined PAL are sent from "tokens" account. LEOMM and SCTM haven't mined anything yet for me but I've already received 0.27 WEED from 1 WEEDMM.
But the biggest rewards came from 1 NEOXAGM - today I mined 120 NEOXAG tokens! I was so excited that I jumped in and bought 4.8 NEOXAGM right away and now have 5.8 NEOXAGM staked. We'll see how much NEOXAG they will produce me tomorrow.
Are you mining some coins from Steem Engine? If so, how is that working out for you?
PS Right after publishing this post I claimed 1.61 LEO, 0.53 WEED and 359 NEOXAG in my wallet!
I started mining PAL and then LEO. I get a some tokens from mining although, by far NEOXAGM is paying off the best. With only 1 each of the others there would not be much coming in.
I think we need to think beyond just what receive from mining. We need to think how each token you are mining will play out in growth down the road. That is where the value will be determined. Which platform and thus token value has the most potential to grow.
But then in investing it is always good to diversify. But, I did stay away from mining steem-engine coins. I did buy some of their coins on dips, because was considering creating a token for my Discord Server and followers, but it is a lot of work and funds.
I know how you feel. It is a lot of work maintaining the community and you can't do this alone.
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So much are going on on steem-engine.
It is like when steem started in 2016 all over again.
Just a few of us know about it.
Due to inflation and demand it will be saturated very quick.
#sct token is like 3 steem for 1 sct.
This niche is not moving much, they hold their token to their heart.
They don't sell it.
The miners are pretty cool and glad to see steemians busy doing their thing.
Although I have one SCT miner coin, so far it hasn't produced any SCT for me...
Neoxag, best of the best currencies...
I hope so too.
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I have one LEOMM, not because I think it's a good investment but because it's an experiment to see how it works. These mining tokens are extremely risky, the first few owners will get lots of tokens and less will be granted per mining token as more mining tokens are staked. We also don't know what the price of LEO, PAL or other tokens will be when there are a hundred different community tokens in a year from now. I don't invest in something unless I can calculate an expected return and I invest for the long-run. These mining tokens are not investments.
These tokens are for speculation. If you are not involved in the community it is also not recommended to mine the tokens as you don't benefit from staking tokens and we can't expect a stable sales price . Steemleo is for investment topics, I can't take someone seriously if they post about investments in one post and brag about bong hits for WEED tokens in the next one.
Everything is an experiment here. We're creating a new economy. I don't smoke weed but wanted to mine some of their tokens. Feels like a sandbox to me where you can fail inexpensively.
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That's a great way of looking at it, if you are just playing with money here that you don't need and treat it as a hobby, you have nothing to lose. You don't have to smoke weed to enjoy its benefits, I don't browse those tags and stick with investing and Steemleo.
It's a long term investment. If you believe in the owner and the site and it sticks around 3 years from now and you are still mining you should make that money back and then some easily. This is the goal with any "investment"
The word could is preferable to should, 'should' indicates that it is probable that you will make money investing in this when it is probably not the case. You cannot call these mining tokens a long-term investment as there is no profit model yet. You simply get tokens that may or may not be worth something someday.
Misleading investors about the potential of a speculative digitalized asset is unethical.
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