The Monetary Policy of NeoxiansteemCreated with Sketch.

in palnet •  last month 

BIG FAT DISCLAIMER

My Neoxian Silver and Miner tokens are just digital pieces of fluff, and may never be worth anything. Be very cautious in purchasing any tokens, including mine.

Neoxian Silver (neoxag)

  • Current Supply: 1,903,006
  • Inflation: 5%: 2.5% Proof of Brain, 2.5% Mining
  • Inflation reduces by 0.5% each year
"reduction_every_n_block": 10512000,
"reduction_percentage": 0.5,

For the first time in my life, I'm finding myself in charge of an actual currency (sort of). I want to do a good job and try to make sure it has value. I named it after shining silver because I want it to be free flowing, but still have some value, and not become worthless.

All air drops are over (narrow distribution!)

As of this writing, all the neoxag have been airdropped. Unlike for Pal or Steemleo, the neoxag airdrop was only given to a relatively small group of people, about 40 people perhaps, nearly all of them are regulars/semi-regulars in my City of Neoxian discord, and/or a few holders of my Neox gold token.

I like this sort of distribution because most of those receiving my coins are fiercely loyal and will stake the coins, and dumping should hopefully be minimal.

I love Pal, but I think many of those that received Palcoin didn't give a shit and dumped it immediately.

Relatively rare

Neoxag: 1.9 million coins

Leo: 4.354 million coins
Pal: 15.223 million coins
weedcash: 470,807 coins

As you can see, my neoxag is much more rare then the Leo coin and Pal coins, weedcash is the most rare though, perhaps stock up on weed too!

I will avoid the "cheat" button

cheat

My goal is to avoid hitting the Cheat button (the Issue button). All the airdrops are done, so there is no reason for me to print more silver into existence. New neoxag should only be created by the Proof of Brain and mining inflation.

Exceptions:

  • Might need to create a powerful flagging account. This would be an account, powered up with 1 million neoxag and would only be used for downvoting bad posts. The power would be locked into this account and would never touch the market.
  • There could be some technical or blockchain glitch that would require printing more neoxag (can't imagine what this would be.)

I have to work hard for my own currency

Because I'm not pressing the "cheat" button, this means I need to work to earn my own neoxag. I need to post, and curate. I have six miners and if I want more, I'll have to buy them from someone else.

I delegate 20k steem to the "neoxiancityvb", our vote bot, to earn some neoxag.

Let that sink in, I'm delegating 20k to my own vote bot, which I could be using to make real money instead, but I'm earning neoxag, which in theory I could press "Issue" to create.

Not to mention that I have buy orders for both neoxag and the miners.

Sinks

In order for a currency to have value, it needs "sinks" or things you can spend the currency on. So far we have:

  • Staking it for 50% curation, more powerful votes and better visibility of votes and comments (the usual stuff)
  • Burn it to make your posts visible in trending
  • Spend it to receive a vote from our vote bid bot.
  • Hopefully more to come..

Also, the currency will have value if the forum has value, so..we need to do all the usual activities, such as curating good posts and comments, flagging bad ones, etc.

My city peeps and I are putting our heads together to figure out any more sinks for the currency, perhaps some fun gambling games in the discord. We'll see.

The Neoxian Silver Miner (neoxagm)

The neoxian silver miner token (neoxagm) is the mining token of my Neoxian Silver. Half of the 5% per year inflation, or 2.5% goes to the miners.


(pic from https://g.foolcdn.com)

Didn't know what I was doing at first.

I'll freely admit I didn't know what I was doing at first. I created a single miner for myself and staked it. Then all of a sudden, the Steem-Engine guys turned on mining, and I earning the entire 2.5% for a few hours..oops. I didn't want to be accused of "ninja-mining" and people chomping at the bit to buy, so chucked 5 miners on the market for 50 steem each. I honestly thought was a high price and that they wouldn't sell.

I was sure wrong about that. Those five were sold pretty quickly and I added another five at 52 steem, then five at 54 steem. I did that until about 66. When those sold, I threw down the gauntlet and placed a single miner at 100 steem.

Yep, that sold too! After that I've been adding only one new miner at plus 10 steem of the previous price, 100, then 110, 120, etc.

Also I sold about 7 miners under-the-table, off market to people who were begging me to buy some.

The current plan for miners

Yes I have a plan now. It's simple enough.

  • The intent is to make my silver miners very rare and hard to come by.
  • I did a small miner drop to my city, about 13.9 miners total. I ended up with six.
  • Two miners will be auctioned in my Discord next week on Sunday.
  • One miner will be given during the Megagiveaway that will happen when bitcoin reaches 20k.
  • I will drop new miners for sale at a price that is plus 10 steem from the previous miner. Only one miner at a time at each price point.
  • I will not sell or give away any more miners, off the market. (So please don't beg me guys.)
  • I have no plans to create any miners outside of this scheme.

Simple enough huh?

Current miner status

As of this evening, July 15th, 2019.

  • Current price is 480 steem
  • Current Supply: 105
  • Current Market:
| ACCOUNT | PRICE | QUANTITY | TOTAL |
| ------- | ----- | -------- | ----- |
| neoxian | 480   | 1        | 480   |
| neoxian | 490   | 1        | 490   |
| neoxian | 500   | 1        | 500   |
  • As I stated above, I'll drop one miner at 510, then 520 etc as they sell.

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Right place at the right time and I did so homework quickly. Glad to be apart of the City and Tribe. I've been impressed of what I have have witnessed so far.... Let's see them miners get to 1000 Steem each..... 🚀 Also extremely impressed with the action and movement in the Discord as well.... Thanks Neoxian

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The neoxian city tribe will continue to grow and move forward

I'm earning neoxag, which in theory I could press "Issue" to create.

I wish the FED was as responsible as you are. The FED presses the "issue" button by the trillions.

#neoxian

chucked 5 miners on the market for 50 steem each

I'm so glad I picked up some early miners... always looking for opportunities for a greater miner investment.

damn right!

Some idiot keeps buying those miners today... I thought it was crazy when I saw them at 220 Steem but after I realized how you were doing the releases, I was fully onboard. I've stacked up a few miners now and think I'm done buying but I really like what you are doing here and I'm hopeful that this community is going to be great.

I like the idea of having a nice "police" account out there in the wild. The tribes are like micro communities that can have a structure in place to promote good content and discourage bad content. The police account quickly becomes a strong deterrent for blatant exploitation.

I think you are doing a good job so far and to me the NeoXAg and NoeXAgM are the most valuable tokens floating around right now.

It was you.... 🤣🤣🤣 seriously though that's still a good price IMO. More will sell and I agree with your comment..... 💯

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#neoxian & silver to the moon 🚀 ... why didn't we buy more miners?

Like the center of a tootsie pop, the world may never know..

I am just so glad after reading a few comments :) proud of you <3

When I first saw NEOX Gold on Steem-Engine I was not part of the Tribe of Neoxian, but for what I had heard of @neoxian and observed how he operated and what he did for users. It made sense to buy some NEOX. I used my luck number (13) and bought that many. Turns out 13 continues to be lucky because shortly after that purchase I was invited to join The Tribe of Neoxian as a dragon.

Now I have a great fondness for dragons so I saw it as another good omen and joined the Tribe. What I found was some extremely loyal followers of Neoxian, and there was excitement in the air. Had not experienced that for awhile on Steemit and I have been on Steemit for over 2 1/4 years.

I am always busy with "real world activities", but still try and engage on Discord with other members/citizens of Tribe of Neoxian. There were many that I knew from over the years on Steemit. I am still busy coaching newcomers, doing my own posting and try in my spare time to curate other's posts.

I ended up with a nice amount of NEOXAG and bought some of the first miners....No regrets on any of this. I do not plan on selling any of it, even though as Neoxian stated at the start of this post, and elsewhere:

"My Neoxian Silver and Miner tokens are just digital pieces of fluff, and may never be worth anything. Be very cautious in purchasing any tokens, including mine."

No pumping there, just honesty about the world of crypto and his own currency.

No matter what happens I am enjoying myself. On these platforms (steemit, neoxian, Palnet, etc) if we always focus on the earnings then we have missed the best part of being involved and that is our connections with each other. I also will continue to encourage users to join Neoxian.city, as well as PALnet and for those who deal with financially related posts LEO.

I am not sure why I being so long winded here but wanted to put some of my thoughts down, and hope to encourage others to visit and join Neoxian.City. Lets have some fun!

I've told my friends on steemit and discord, neoxag/neoxagm is by far the best understanding of scarcity, acceptable inflation, and the understanding of the power of 50/50 proof of brain and mining rewards for the inflation. Absolutely the standard at the moment for sure in the steem-engine platform in my opinion. Keep true to this post and a lot of people are going to be both shocked and thrilled and what happens next in the time to come.

Thanks for the update. So far your miner is the best one out there.
Two days later (July 17th) and the miner is selling for 580. I'm curious to see where it will top out. Any one want to hazard a guess 1000 - 1500? I know my miner paid for its self in less than 36 hours, very cool.

This is really interesting... I'll give my attention to #NEOXAG tribe.

Upvoted, Resteemed and one !BEER ^_^
@amico

Might need to create a powerful flagging account. This would be an account, powered up with 1 million neoxag and would only be used for downvoting bad posts. The power would be locked into this account and would never touch the market.

As Current NEOXAG Stake Holder , if you Require Any Assistant please DM me.
Don't mind providing extra hands.

I’ve known you for Value and hardworking! Your currency will grow and we’ll rejoice with you because we all are beneficiaries of your project. Long live neoxian city!

Posted using Partiko iOS

precious digital fluff but always a good idea to limit inflation

We picked up our mining rigs at the beginning and are very happy!

Thats really cool. It is said that sometimes we work with our unconscious mind and it brings positive results. Maybe same happened to you that's why you didn't know what you were doing. But later on the same thing was in the market. That's great.

@neoxian I have a full faith in you and in your city. I known you will come with flying colours let's hope for the best. I am staking all the token I am getting for better growth and development. And best of luck.

I did not realize your airdrop was so narrow.

I went ahead and bought some neoxian a few days ago, and staked it of course.

this is really interesting and informative post about neoxian. thank you..

@neoxian,
I think I want to collect money to buy a NEOXAGM, honestly it's high in price for me. But I will try, thank you for sharing this useful update!
$trendotoken

Cheers~

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You are going to be the next Big bank hehe finally a dream come true :D

Thanks for the bonus. :-)

Good for you Neoxian, I appreciate how honest you are about this but are still managing to sell them for such high costs.

Thank you much for the airdrop @neoxian... I staked 9500 of it, transferred 500 to @hanedane and he staked his, as well. There's nobody on this platform I would trust re: currency more than you!

Wishing all the best for the City of @neoxian :D

All is clear now.

I am so happy right now! 🐲

I'm happy to be part of the tribe and one of the top 20 stake holders. Count on me to make this city greater than it's. #neoxian

To view or trade BEER go to steem-engine.com.

Hey @neoxian, here is your BEER token. Enjoy it!

What should I do with the neoxian silver tokens because I have like 7

  ·  last month (edited)

Might need to create a powerful flagging account. This would be an account, powered up with 1 million neoxag and would only be used for downvoting bad posts. The power would be locked into this account and would never touch the market.

I think all platforms will need one sooner or later.

Great job tho, you definitely qualify to be a Bossman with all the effort you've been putting in. Hopefully, great things await us all :)

@neoxian, When we lead something then it brings responsibility. And good to see that now you are coming up with all aligned plans and numbers. Good wishes from my side and stay blessed.

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Thanks for the open and transparent discussion..

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Oh boy, you've been busy. 😄

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You got a 93.24% upvote from @minnowspower courtesy of @theguruasia!
@minnowspower is using the well known bid bot script of @postpromoter developed by @yabapmatt!
@minnowspower accept min 0.01 - max 0.03 SBD/STEEM bids only!
@minnowspower maximum roi of a vote is 20.00%!
@minnowspower owned by @theguruasia - TGA Network!