I've started mining Creative Coin Crypto (CCC)
After reading the announcement by @swelker101 about mining possibilities of Creative Coin Crypto (CCC) today I decided to stake 11 miner coins (CCCM). They are "megaminers" and mine at 5 times during the mining attempt.
How profitable will this miner coin will be for me? It depends how much CCCM are staked, of course. The more one has, the more chance one has to mine CCC.
Here's a great post by @learn.leo how to calculate mining rewards for any Steem Engine token miner. Using LEOMM example I was able to calculate my current chance of mining CCC.
But in the comment by @fraenk there is a simpler way listed:
First, I went to this site and searched for "mining" using ctrl+F key on my laptop to see that staked mining power for CCCM currently is 232.620755.
Now since my 11 CCCM mine at 5X, I multiplied 11 x 5 and got 55. I then divided 55 by total staked mining power which is 232.620755.
11 x 5 = 55 / 232.620755 = 0.2364363403428899 x 100 = 23.64363403428899
This means I have more than 23.6 % chance of winning the mining round. More than 1 out 5 mining rewards currently go to me.
According to the rich list of CCCM there are total of 53.617051 CCCM staked by 21 accounts at the moment of writing this post. This number will of course change in the future.
Because I'm posting daily my Pinky and Spiky comics as well as my organ playing related posts with the tag "creativecoin" to earn CCC, it makes sense for me to stake some CCCM and start mining CCC.
Of course, this is not a financial advice and you have to do your own due diligence.
Getting into the mining of a new tribe early can actually generate some quick returns!
Keep an eye on this though:
With a setup like this it does require trusting the tribe-management that they won't dilute the mining supply by issuing more and more just to raise a quick buck!
I trust @swelker101 knows what he's doing there, but that's still a red flag for me! I really like the #creativecoin tribe idea and niche... but yeah... noty going to buy into the sellwall at 100 STEEM per miner knowing there's a "potential" for 4900x miners entering the market (the equivalent 500 million STEEM is also 50% more than the circulating supply of all STEEM currently in existence... so yeah... there's just something off about these numbers)
But hey... you're in early... the miners are currently not selling too fast... I think you have a really good chance to make a good return on that invest. But it's a bit of a "fingers-crossed" type of situation still ;)
I will be selling some inactive miners from other communities. They just sit there and don't do anything for me. EMFOUR for example. SCTM is another one. So if anything changes for the worse, I might sell CCCM miners as well. It's a risk of course. But what can we achieve without risk...
I'm curious what the results will be.
What is the size of the mining pool that is being allocated to rewarding miners?
4080 tokens every day.
Posted using Partiko Android
I know the math is more complex than this, but if we had to ballpark it or dumb it down...
4000 / 50 miners = approximately 80 CCC per miner per day.
As people buy more miners and stake them, the 80 CCC per day starts to drop. But for today right now, does that seem accurate?
Posted using Partiko iOS
Hard to say because all the mining and post rewards come from the same source - @tokens. Maybe in the future they can differentiate two separate sources.
Posted using Partiko Android