You are viewing a single comment's thread from:
RE: Steem-Engine Tokenized Miners and Their Unbelievable Impact on Steem
I bought 1 PALM miner and staked it over a week ago and not earned anything from it yet. Stupid miner must be on strike or something. Don't think I will bother getting any more miners of any description. Unless I see proper returns happening.
Posted using Partiko Android
The miners work on an algorithm that is akin to a random lottery. Depending on how much "mining power" you have comparative to all other miners staked, it could take quite a while to get a payout. I think that you have a very low mining power with only 1 PALM. You should earn something but it may take a long time to see the payout come in as you need to wait until your "lucky" enough to get the return.
To give some context, I have a few PALMM and they pay a few PAL tokens each day. It's because the mining power on those (I believe) is 4x the mining power on 1 PALM which means I have over 16x the mining power that you've got. When you do get your first payout, I think it will be quite large in relation to your total investment -- don't quote me on it though.
Keep me posted with how it develops. I'm curious to see if/when/how much you get paid with 1 PALM.
I don't like words random and lottery and investment in the same sentence.
I bought 10 PALMM tho.
Yeah those words don't sound good together. That is how miners work though. Even in Bitcoin, a mining node could take minutes, hours, or days to become the "winner" of the next block and receive payout.
The "$10 / day" calculations are estimated payouts averaged out over time. If you look at a terminal for your own miner, the payments come at sporadic times.
Agreed. I think lottery isn’t the best term. It’s just a mechanism that randomly distributes based on how much “power” you’ve got. Having a more predictable distribution method would be nice
As long as it keeps dripping into my wallet I'm OK with it.
Yes I understand how it is ment work though they did make it sound like you would get something pretty much daily. I will try to keep you updated if I get a return. Thanks
Posted using Partiko Android