STEMM, Bad Miner, Good Purchase?
I got a little silly with the recent STEM launch (Not nearly as silly as I went on NeoXAgM). Decided to grab a few of the new STEMM miners and also was buying STEM as people were dumping their air drop coins. I quickly bought 5 miners, because lets face it I'm addicted to miners, and then wound up with around 1400 STEM. I'm still sitting on the STEM and trying to slowly sell it off. The market has slowed down since the initial burst so I might have to drop my price before the value of STEM starts dropping, I should have a few more days but who knows.
But anyways, back to what I actually wanted to talk about STEMM and just how good they are. Right now I think there are around 1800 miners that have been purchased off the market, not a ton out there but enough to already make STEM mining not very rewarding. The reward pool for mining is only 20% of the reward pool which means 19.2 STEM are mined every hour. Break that down further and we have 0.96 STEM every three minutes. With 1800 miners out in the wild, and increasing daily, that means it's close to four days on average to get a STEM payout. With STEM trading around 0.065 Steem and a miner costing 11 STEEM, that's going to take a long long time to pay off.
But don't fret if you purchased a miner because they could potentially still make you some money. Each day the price of STEMM will be increasing by 1 Steem until they reach a price of 30 Steem. So if you bought a few at 11 Steem today, waited two weeks you can throw them back on the market at 25 Steem. Still need someone to buy them from you but it's a decent bet if you feel STEM is going to be a good token (and it looks like a very nice addition to Steem).
I will be watching to see what happens with the market on both STEM and STEMM. I have no plans to buy anymore at this point in time but it is tempting to buy a few more miners to stash in my wallet for a few weeks. Just wanted to let you know what I've learned with this new token and if you were thinking about jumping in on STEMM, I hope you found the information helpful.
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haha let's HODL xD
The mining pool is 20%, not 15%
The profitability of the miner is far better than most any tribe right now. Last I checked ENG Miners, for example, took years to break even.
You can also unstake them and sell them at some future date.
STEM also has far fewer tokens than any other tribe (about 50% of what Leo has for example).
@bwar right?
So far it's been my poorest performing miner out of everything I have staked. Extremely small sample size and could just be bad luck on my part. Regardless of the mining results, the miners are still a good purchase. I will update my post quickly to fix my error.
I find that hard to believe, do you have ENG/PAL miners?
I know SCT sells a few thousand a day, I can't imagine how long those take to pay off with the 208,314 miners they have staked.
I don't have SCTM, EMFOUR, WEEDM and I only have 1 PALMM. I'm not even going to guess how long the SCTM take to earn ROI. Really the only two miners that are probably actually worth buying are NeoXAgM and STEMM because the miners themselves should increase in value at a rate that's more profiable then any returns you'll get from mining.
I have good early results on IVM, which will decrease moving forward and ZZANM but I really don't own enough for acurate numbers.
Yup. I do not have any ENG miners, was late to the game on them. I have no regrets over the STEMM purchase because I know I will be able to resell them later when many of my other miners will lose value at a higher rate. I think you did a really good job with the release.
I just bought some miners to see it that's true.
For sure the profitability does not come near the NeoxAG miner, since there are only 143 of those miners in circulation. But i am eager to see how it compares to others. Good luck guys.
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