SteemLeo Miners...Meet Flipstar

Ever since @dalz released his Top LEO Earners – September 2019 which showed the top 3 out of 5 earners were miners, that's when I had to give buying some LEOMM a consideration.

And after doing some rough calculation, although being in the hole for two years, I thought the Miners were a good longer term investments.

NOTE: the numbers were based on the remaining LEOMM burned, pre @flipstar purchase.

So me staking some Miners was a direct conviction of what I thought of Steemleo and Team behind Steemleo. But part of this initiative entailed the sell wall burning down as quick as possible because my rewards were going to based on my miner power relative to the total mining power.

Several months ago the SteemLeo Team decided to burn the rest of the LEOMM Supply to create:

1. Scarcity of Mining Tokens on the Open Market
2. More Mining Rewards for Current and Future LEOMM and LEOM token hodlers

Today the SteemLeo Miners were in awe when @flipstar bought the rest of the LEOMM sell wall.

That's right, there is no more sell wall.

So I have mixed feelings about what transpired. I was waiting to buy more LEOMM before the end of the months and missed my window. However, at the same time, the Market will determine the value of the LEOMM moving forward.

When I trade, I don't really thing about the profit I can make, but the more so the risk. Buying LEOMM is really no different. So what was the impact of @Flipstar purchase this morning? Here's an example of calculating that risk vs reward.

How to Manually Calculate Mining Rewards

We’ll use LEOM and LEOMM (Steemleo’s digital mining tokens) as an example to show you how to calculate mining rewards.

1). What is the mining power of each mining token? This is stated by the issuer of the token. For LEOM and LEOMM it works as follows:

1 LEOM = 1 mining power
1 LEOMM = 4 mining power

2). Calculate the % chance of mining based on the current amount of mining power staked So say, 9003 LEOMM have been staked and say 240 LEOM have been staked,

(multiply the LEOMM staking number by 4 to get mining power and then add the total LEOM staking --> 9,003 * 4 + 240 = 36,253)

3). Now take the total mining power that you have staked and divide it by the current total staked_mining_power

i.e. if I have 10 LEOMM miners staked right now, then your mining power would = 40. Your % chance of winning a "LEO mining round" would be 0.11%

(40 / 36,253 = .00110334 * 100 = .11%)

NOTE:

1. The mining rounds are every 1 hour
2. 30 winning miners are chosen
3. So in the example, you have a .11% chance of winning 1 mining round every 1 hour.

So what was the impact of @flipstar purchase this morning?

YESTERDAY

TODAY

We will all be hurt by @flipstar buying the remaining sell wall today. I was avg. about 20 Leos / day from mining, not sure what I will earn on daily basis at this point...only time will tell. But to end on a positive note, no matter how many LEOMMs you have, I do anticipate the value of the Leo rising over time, which should directly cause the LEOMM to rise over time as well.

So if you are a LEOMM holder, what's your plan at this point???

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.