RE: Why LENM are different from traditional Hive-Engine Miners

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RE: Why LENM are different from traditional Hive-Engine Miners

liotes in LeoFinance • 3 years ago

Totally agree with that! If the price of a base token goes up, the miner's price can go up... The perfect example for that is LEOM and LEO tokens... When the growth stops, the miner's sales stop... but, they don't mine MORE tokens, but mine more "valuable tokens", if I can say it like that... It's all about the ROI :) :)

Actually, that happened with WORKERBEE and BEE tokens lately, but nobody noticed that... I (@ph1102) have written about that in my personal blog... The ROI is well over 20% because the price of miners (WORKERBEE) went down, and the price of BEE stayed the same...

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3 years ago in LeoFinance by liotes

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amr008 3 years ago

You are right 100% . I have been crazy over these token miners , have researched about them and have written scripts to see who has won in the latest round and all .

Do you know what's the biggest disadvantage of miners on Hive?

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liotes 3 years ago

I would be very curious to know that :-)

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amr008 3 years ago

Lack of transparency.
Not many know how much they are earning from miners.

Curation reward and author rewards get displayed on tribe transfers page but miner rewards doesn't , check it out.

Do you hold any miner? Do you know how much you are earning from them?

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liotes 3 years ago

I totally agree with you man. I'm actually looking into the scotbot settings of the different tribes to calculate the return of these miners and the probabilities of payouts. I don't believe many people are doing it when they buy these miners.

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amr008 3 years ago

I don't believe many people are doing it when they buy these miners.

I agree and I bet most of them don't even know how it works . That is why for a project like yours , repeatedly posting about how it works and reports helps .

Also if possible put up a FAQ in your website about how miners on Hive works ( ignore if done already :) )

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liotes 3 years ago

We have this in the whitepaper:

A smart contract mining pool was created on the second layer of the hive blockchain. Every hour 20 LENM are rewarded
with 0.3 LEN each. This means that per day 144 new LEN tokens are issued. The weekly supply will be of 1008 LEN
tokens.
There will be no additional issued and sold LEN tokens. The only way to create LEN tokens is through holding and
staking LENM.

So, I suppose that's enough for now...

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