Hello SPIers, today we look at "what if SPI miners?"
Oh yes, its come to this where we need to talk about SPI miners as a way to distribute the liquid tokens we are holding. We've been trying to sell them for months but not much interest.
Why miners?
I learned a few years back with EDS that people do not want to buy tokens directly, they would rather prepay for them and get them over decades instead.
The proof in the pudding is that it took EDS took 9 months to sell 20k HIVE worth of tokens while it sold 75k HIVE worth of miners in around a year with demand for more.
This is the reason DAB from @dailydab had no presale and went directly to DBOND miners to issue DAB. It sold just over 100k HIVE worth of DBOND in 6-7 months with demand for more.
Why do people seem to prefer to invest this way?
passive income? 🤣
So, SPI Miners?
These would be easy to create but a little expensive at around 2200 BEE tokens (100 for token, 1000 to enable staking and 1000 to enable mining), about 1000 HIVE at today's prices.
We have 1000 SPI tokens we could allocate to this currently worth a ballpark 6000 HIVE. We would need to offer some sort of discount so to keep it easy, we will say miners cost 5/6ths of SPI aiming to raise 5000 HIVE from selling miners.
1-3 HIVE is the best price to sell, people dont like higher prices. We'll say we create 5000 and sell them for 1 HIVE each with rewards lasting for 1 year. In that year, 5 SPI miners costing 5 HIVE would yield 1 SPI token worth 6 HIVE.
I already know it's a dead idea because the cost to set up a miner is pretty much half the HIVE we'd take in but I'd already started to write the post and we're too deep in to start a new post.
So no SPI Miners?
Nah, it's a stupid idea with so few SPI tokens. If we had 4000-5000, maybe.
Getting Rich Slowly from June 2019
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| DAB | @dailydab | DAB |
| DBOND | @dailydab | DBOND |
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Hmmm, LBI miners?
40K tokens plus another 40K that could be minted. possibly 45K HIVE in value using todays asset backing.
Hmmm, now you have me thinking.
Probably a bad idea, but..
Hey @bozz, you have any thoughts?
Those LBI tokens are not on your books so it would liquidate current holders.
It would liquidate peoples share of the fund, yes.
It's an interesting idea, but if it has the potential to dilute my dividends I don't like it. That being said, id probably buy some of you put them out there. I'd at least try to make some kind of profit on them to build our bags bigger.
Yeah, diluting dividends would depend on where the funds raised get invested. A big part of me still wants to just burn all these tokens and hard cap our supply, with an eye on the token price.
Maybe we need to just work with what we have instead of looking for ways to bring more capital in.
Dunno, this is just ideas getting spit-balled for now.
I totally understand. Part of me wonders how many people are still even interested or jnvested. Besides Leo and the debacle that was CUB, I have a lot of hope for LBI because I invested so heavily into it. ssuk did what he could, but I don't think anyone could have anticipated his hard this bear market was going to hit.
I felt trapped with LBI, like walking on eggshells, every action questioned. Investors wanted me to increase the LEO balance and I wanted to increase the dollar value.
Ya'll just be happy I sold every single CUB ever and bought BTC and ETH with it, never powered down the HP balance and kept all the HBD. If I had listened to investors, LBI would be 90% LEO, earning 3% of LEO curation and completely worthless haha.
Converting those BTC and ETH into HIVE a few weeks ago was deffo smart from JK cause I dont see the BTC or ETH to HIVE ratio increasing much more.
I never had a problem with anything you did. I was just happy to be invested and I hoped it turned into something lucrative. I still have hope it will.
VSC based SPI miner? I think that is more realistic. Or maybe Evm pegged which is less expensive but less needed. I am too tired to dig into Bee or Engine design now.