It took some buying and a bit of time but I can now state that I became a PAL Dolphin.
Over the last two days, I bought roughly 2,800 PAL to push my wallet over 5,000.
This is a commitment that I wanted to make to the platform because of my long term belief in what the community is trying to do. It is dedicated to producing a platform where curation rewards those who are putting forth the effort to produce interesting content that the community likes.
What I am also excited about is the possibility this presents in creating a turnkey system which allows other communities duplicate what is being done with PAL. Abundance is something that I take seriously and believe is becoming available to all who are on here. The reward breakdown of the PAL token could lead to more of this as the token spreads to more users.
One thing I did notice is that it took a while to buy what I needed. The liquidity of the token is not great. This means a lot of people, who received the "claimdrop" are not dumping. To me, this shows the commitment of those who are presently involved in this.
I also saw how I kept having to buy up in price. This is another positive since the token has been moving up since the platform was introduced a couple weeks ago. When you have thousands of users who are committed, the selling will be minimal, at least to start.
Is this akin to being involved in Steem circa the summer of 2016? I do not know yet I am encouraged at the possibilities.
If you are interested in purchasing PAL tokens, log into Steem-Engine.com using your Steem log in. Once there, go to "Wallet" and click on "Deposit" to fund your account. The nice thing about Steem-Engine is that it enables funding via many different tokens including BTC, ETH, and EOS. Of course, STEEM is also one of the primary ways to trade.
The platform does charge a 1% fee on all currencies entering AND exiting. However, trades are free on the DEX meaning that one can convert to Steem-Engine based tokens without cost.
This truly is an exciting time and I am very optimistic of what both PALnet and Steem=Engine add to the platform.
The future is looking bright.
If you found this article informative, please give an upvote and resteem.
what is your steem price prediction in the short term and in the longterm?
Congratulations! I share the vision and enthousiasm for PAL. This is really a great platform and a great opportunity for new comers on the steem blockchain.
Woohoo! Congratulations on dolphinhood @taskmaster4450 i am feeling FOMO and would love to pile up some Pal! About how much did it cost with fees to buy your pal tokens to get to dolphin?
The only fees charged is 1% of the coins that go in (and another 1% going out). There are no per transaction fee.
It is just like the internal exchange on Steem when converting your SBD to STEEM.
SO if you send in 100 STEEM, you will get 99 STEEMP which then can be converted to PAL.
Congratulations! but I would argue that you were a PALnet dolphin long before you hit 5K and you may really be more of a quasi-orca by now.
5k nice! A bit behind you now at the moment :( Will have to do some more buying myself. I put a ton into miners but that will be a long stacking process. Might be worth just buying PAL outright for a bit now.
I don't have a huge mining stack although I have some in both ENG and PAL.
I agree that is long term adding. I am spreading my buying between PAL and ENG. I just bought another 150 ENG.
Dang niceeeee!
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What are your thoughts on the amount of tokens available for these two. It seems they list trillions which does not seem likely. Is there going to be a big burn? I thought I recall reading that the total of PAL was going to mirror STEEM?
Do you know anything about the total amounts?
PAL will actually be limited, inflation is set at 10% and currently there is one bot that which all PAL is sent to for a upvote on steemit is burned. I am sure there will be other types of faucets that will burn the token as well increasing the value in it.
Here is the snapshot from the whitepaper
Your miners mine and annual inflation so year 1 would be 2,100,000 year 2 is 1,890,000 so if you owned 1% of all the miners you would be seeing 21,000 Palcoin in year 1 and 18,900 year two for example. Not bad for 1% lol
oh and as per steem-engine that one I am not sure on yet I will have to do some more research into it. I was lucky to pick up two of the EMFOUR miners before they sold out in 24 hours lol
The total mining pool in years 1 is 210K, not the total of 2.1M inflation.
The column on the right determines that. Yet you are right on the total, there are not a ton of tokens available overall.
20 years will see only 53M. That is not a whole lot.
Ah yup you are right thank you kindly for the correction on that. Forgot to carry the 1 lol jk
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how do the miners work?
Considering the available liquidity (close to 0.5 million pal only), and the huge sell mine of over ten million pal at 1.0 Steem, when the total suppy is just at 12 million or so, it makes sense to just buy pal at this point. Though it seems people are catching up to this and the price is reaching towards parity with Steem quite fast. Seems to be at 0.45 right now.
I see the exact same value in what is being built with Palnet. It is leading the charge for tokenized tribes on the Steem blockchain. I continue to buy more where I can, but like you, I’m having trouble buying enough!! Not too many sellers, which is fantastic!
We could really be in for quite a whirlwind in the next year to 18 months. This is going to be fun to see what else is constructed on this base platform. Steem-Engine has so many possibilities which further fuels my optimism.
The fact that the price of both ENG and PAL tokens keep rising which tells me low selling pressure.
I agree, it’s going to be incredible to watch this unfold and we are lucky enough to have front row seats to the spectacle.
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Personally I'm interested to see the package, where any community could EASILY and FAST create their own tokenized platform with video, social media and forums attached to it. That could spread like a wildfire.
Each of these new tokens could then be traded for Pal/Steem at Steem engine, giving them instant value and liquidity. Can't say I've been this excited for Steem since the very beginning.
Now it's up to the community and the Steem engine team to get the word out.
I bought 8 big miners and am selling 1/3 of the revenue and am staking 2/3. that way I recup some steem but move up with my pal
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You bring up a great point @felander. The number of options that are available is growing. There is more than one way to approach ones PAL account. Miners is just another addition of how to handle it. Essentially we see another layer added to an additional layer on top of Steem.
Fun times to say the least.
Exciting times indeed @taskmaster4450 ! So glad I found out about Palnet yesterday and staked my 310 PAL ! Hopefully I will also be a Dolphin some day, Congrats my friend!! upped and resteemed ✌👍😎👌🚀🚀🚀🚀
I remember those days well back in 2016!
Congrats!
Really interested in and enjoying what Palnet is up to these days.
Cheers to that PAL growth.
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Congratulations, PAL looks promising. I do not have much, but what I had I gave it power up
Not bad and congrats to 5k :), its really cool to see, how things on Steem grow and getting better every day :)
With the current trend it's quite safe to buy any Pal under the 1.0 price parity with Steem, there's just not that many PAL coins to go around and everyone sees the opportunity of being a dolphin or orca here so the selling pressure is minimal.
Shamefully I missed the first sell off, could've bought a ton of Pals... But you live and learn!
nice! happy dolphin beeing!
Congratulations ! Wanna be a PAL whale ?
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I’m getting jealous! It makes me want to get 5k also! 😅🤣
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Heading for that too! Well done! Exciting times ahead
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Congrats! 🤗 Nice to see dolphins or holders like you in palnet 👏
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You became a PAL dolphin in about 2 weeks. I hope that in 2 months you can become a PAL orca.
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Very informative. Thanks for sharing!
I had some FOMO reading this so I bought more 😂
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Wish you get the best of your palnet investments and steem investments.
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Interesting times. Send one EOS there as a test but I'm somewhat confused now. Do I need to exchange it for Steem first before I can exchange to PAL?