Earn PAL, Burn PAL, Buy PAL, Mine PAL...
Almost a week into my PAL journey, some insights on what I've been up to and noticed thus far...
Earn PAL
If you are not blogging via palnet.io, or using the #palnet tag, why not?
PAL is currently valued at $.12 (about .28 STEEM) and has been as high as .799 STEEM in the past couple of days. I'd like to see a chart, it would look super bullish.
This will be my 5th post using the #palnet tag - I probably should have used it for the latest minnow power up league post from @steemcommunity also, but the league relates to powering up STEEM and not PAL. Hey @paulag, what do you reckon about a PAL power up league? :)
Burn PAL
As far as I am aware, it's not possible to promote your post with a multitude of bots on palnet.io. This may well change in the future of course (hopefully not), but as it stands the method of promotion, to appear in 'Promoted' on the top menu involves sending some PAL to @null.
https://www.palnet.io/@null/transfers
I couldn't resist sending a little over to this account, which will be burning sends and thus reducing supply, to find out how it would work. 7 PAL got me a place in the top 11 at the time of writing. Not bad at all.
https://www.palnet.io/promoted/palnet
Buy PAL
I have been doing this, at prices ranging from 0.08912 STEEMP all the way up to 0.30970 STEEMP. Yep, I'm still buying a little as and when.
Will PAL reach .99 STEEMP, I think it is possible. There is a huge sell wall at 1 STEEMP (and so if you are planning to sell some PAL, maybe go a bit lower than this!).
Mine PAL
I've also dipped into the mining arena because I'm curious to see how mining PAL compares against buying and earning via content.
The transactions below show the purchases of 3 PALMs, and 1 PALMM - The 'mega miner'. These transactions were made 3 days ago and so far, @minnowsupport has issued a total of 6 PAL to my account.
I'm not sure, but I think this is the account that is issuing the tokens from the mining, but because there is no other information attached to the transaction, I don't know for certain.
It would be nice to have some details with the send, like which miner 'produced' the tokens, just so those that have invested in PALM and PALMM can weight up how they are doing.
Steem VP v Palnet VP
In the PAL discord, room 'playingwithbots', it is possible to check your PAL voting power.
As the chains are coupled at present, a vote on palnet for a given % is also given on Steem, and vice-versa. I'm OK with this for simplicity, but ideally I'd like to get my current voting power on each to match. When I checked in PAL to find the VP in the image above, my Steem VP was at 83.16%.
Without putting a halt on all voting for 20 hours or so, I don't think there is a way around this. First world problems I guess.
@nopal4u
Browsing the top PAL owning accounts here:
https://steem-engine.rocks/tokens/PAL/richlist?sort_field=stake&sort_order=desc
I noticed since my last check that we have a rather mean sounding account sat at the top of the list with 100,000 vested PAL.
My sources have revieled that this account is 'a flag account for spammers and to knock down our own rewards'. The name makes more sense now, and personally I like the intentions in that statement.
Steemit Inc have used their own stake indirectly (steemcleaners etc) to attempt to control abuse, but the jury is out as to whether SC and other abuse fighters are tackling the right areas. We will have to see where 'nopal4u' shows up.
Alright, another PAL/palnet post on palnet. What do you think about that @revisesociology ? :P
Cheers
Asher
remember it starts from 1 steem per pal
now it's 0.4, the chart was made a few minutes before actual pump
for now, mining and claiming rewards look the same on the blockchain side. "minnowsupport issued x pal to someone". And you don't really know if that was from mining, your post, or curation. We can expect proper memos in the future. We got it for claimdrop so it's easy to separate claimdrop transactions from other transactions.
Thank so for the info, I'm looking forward to additional info on rewards/mining.
The post was written a bit earlier than today, PAL is on another pump!
That was probably Victor pumping, haha!
Victor has taken his foot off the pump and we are possibly entering buying territory...
To listen to the audio version of this article click on the play image.
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I think your post is informative but I do not know what you are talking about most of the time.
I do not know what Steemp or Steem VP is to start with.
The only thing I discovered so far is that I find more informative posts at first sight here.
So far I use the tag and read and reply on some posts here.
Have you claimed your PAL at https://steem-engine.com/ yet? This is a good place to start. If not, I can find a guide for you :)
Yes, I did with help of @hans001. Thank you for asking. I do not know what to do more.
You can sell or power up the pal on Steem engine. If you sell, you get steemp, which is steem if you withdraw it.
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If I understand it well I can only power up/stake my PALnet account with steemp.
To get Steemp I have to take the Steem from my Steemaccount and transfer it to palnet?
I am not able to buy steem directly and pay with my credit card?
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Let me know if you are stuck. As improv says, you can power up the PAL or sell - both are options in steem-engine.
I think you missed a trick by not including PAY PAL in the header!
I have only just started using it. I have used the tag twice and voted a few times through it. It does seem quite good. I get antsy doing anything that requires a password though :0/
Missing tricks are the story of my life!
It's good that you are careful with your keys, but I think steem keychain in a goodun and you can is that for steem-engine and palnet.
I am working up to trusting that one. Took me long enough with steemconnect!
Hi ya @meesterboom,
You can use your posting key to log in.....it is not clear in the window....
Yes.....I saw your posts in bleujay's feed! ....early pals.... hehe
All the best. ^__^
Cheefrs!
Aha! Yes, you are right. It's not immediately apparent you can use the posting key. I shall indeed do this! Cheers lass !! :0)
PAL is where the cool kids are at <3
It certainly is - everyone should be in the cool gang, this is a great opportunity to earn tokenzz
How do I buy pal with Steem?
https://steem-engine.com/
You need to deposit STEEM as STEEMP, and then you can buy any token.
🙏 thank you
Posted using Partiko iOS
Do you do that in steem-engine?
Yes. There is a Deposit option in your 'Wallet' on Steem engine.
If you have not already done so, there will be some PAL tokens to claim from the airdrop to active steemians.
Let me know if you need so help claiming and staking them.
No "Sell PAL" section?
Ha, not til .99 STEEMP 😝
I haven't received any payouts from my posts yet, and I'm looking forward to see that happen!
I am in the same boat, 2 days to go 😁
I think the most annoying part is the fact that I need to upvote at 100% on Palnet (which still equals nothing), which I almost never do on SteemIt. So I have not been curating a lot there... it drains my VP on Steemit too much.
Iafter a converstion about the possible pros and cons of buying miner tokens (in which there were actually more megatives than positives - at least, that's how it felt for me - I did go ahead and bought one Mega Miner token. After buying it, I hesitated for a couple of hours before finally staking it. We'll see what happens :0)
Let me know regarding the PALMM. As above, I would prefer the transactions to come with more info - I'm not sure where the 6 tokens I've had (none for almost 3 days) have come from.
I also have 1 PALMM token. Has been mining about 1 PAL per day for me.
I have not received token for 3 days, starting to wonder if my miners have gone on strike - I am British and so this is a distinct possibility!
This was weekend... So maybe it's more of a French thing, haha!
Agreed. I don't have a clue whether the tokens I receive I get through the miner or as a reward for my posts or curation. It's hard to figure out if the miner is worth it, this way
I wish I didn't sell off my PAL. Missed opportunity.
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Selling and buying back was the way to go! At least in those early days. The spread was so wide, you could sell and buy back cheaper with assurance.
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Selling now is a little risky since it started to pump so fast.
Oops!
Honestly, I realized late 😫
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please do a PAL power up league 😂 @abh12345 @paulag
I'm not sure how easily we can access the chain data - presumably there is no SQL copy as yet 😬
Well at least I'm in the top 200, for now.
Have you been buying or did the airdrop catch up with you at last?
Still no airdrop. Produce content, get SBD, sell SBD for STEEM, sell STEEM for PAL. Plus earned a few PAL posting.
Ah. Well hopefully all is not lost on the airdrop, I would guess you are in for 1500/2000 if it lands.
Yeah, it should be about that much. I hope I get a fair shake. Been in this game for so damn long already, things haven't really been going as good as I hoped. The luck has got to change to one of these days...
Can’t smoke it? What is a time traveling cat to do!
Sell it to the dogs?
Dirty dogs always trying get my Pal!
I've seen a couple of dogs round up their PAL from multiple places 👎🏽
Well my version of mining PAL is being active on their discord.
Actually the PAL part is a bonus, their discord is super nice and I engourage everyone to check it out !
This is the discord Link
Good one! I visit the discord most days at present, but only to ask the odd question. How long are you spending there / how many PALs have you been sent for your engagement?
I have gotten over 70 PAL now for enganging, and I spend like 1-2 hours there daily.
That sounds very reasonable to me! Thanks for the info.
I have not voted via palnet yet with my main account (this one), but I have been using palnet on my alt account mostly for voting. I like the easy slider option, and thus I also get to vote more post. I am looking forward to the easy tools like steemworld type where I can see my palnet stuff all in one place to come out. Like how much palnet vote power I actually have.
Any vote cast on STEEM will also take place on palnet - so hopefully when the decimals are in place, you will get some curation from your main account.
That's good to know, I have my vote pattern of who when and what to vote on for most days covered on steemit front end, so I have not gotten real used to palnet with my main account yet and since I have a slider I really don't need the palnet one.
Now for my play and try this or that out account palnet is great, I get to vote for twice the content I would if I just stayed on steemit.
I've found a lot of new things from your post 👍🌹
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Glad it's some use to you 😁
Great article Asher. It's pretty mind bending figuring this stuff all out! Great post. I came looking for @revisesociology reply but arrived too early!
He says with tongue in cheek and a sigh, I presume. And so talking about palnet on palnet could be unsettling him - I tagged for a wind up to be honest but perhaps he's not taking the bait 😂
As above, let me know if you need some help - you probably have tokens to claim (and hopefully stake, but that is your choice).
And thank you, I'm glad folks are finding the post of some use!
Tell me more about how mining it works. You're buying a stake in a mining farm, essentially? As opposed to running a program on your own hardware?
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Yes I believe there is an inflation share that is spilt between the people who have bought into the m'ining farm'. No hardware required for the PALM and PALMM buyers, you just need to stake them in your wallet like the PAL tokens (for curation rewards).
When PAL was low (0.05 - .10), buying PAL was likely the better option, but as the price continues to rise, mining could be better. Just my thinking though, and so far I'm not convinced about the miners as it's impossible to work out how much PAL they are providing per 'unit'.
About 1 daily PAL for 1 PALMM.
Aha, thanks for the clarity!
The great thing (as I see it) about @nopal4u is that it has no Steem power. So they aren’t claiming to be guardians of the Steem trending section, just the PAL side of things.
In the discord on Thursday night CrimsonClad was begging for one of the other mods to grab the account and flag her post as a test case.
I really like the idea that they can knock posts out of trending on PalNet without affecting the Steem side. Seems cleaner to me that way.
And decimals are coming on Tuesday! Hopefully those of us who don’t have enough PAL to affect the payout will finally see our votes “mean something”. Though I say finally with tongue in cheek. It feels like a long time, but has really only been 10 days
Yes, this is the future I think. Communities managing their own trending without blowing out anyone else's. I didn't think that a new chain would be required, but perhaps that's the way it will go.
Not long to wait for the decimals, I think we can hold on til Tuesday 😁
Do you think we will see our vote values starting on Tuesday as well?
So nice there's no adverts, as well. I didn't realise they would irritate me so much.
The ads are a bit annoying, I see them when I'm using the phone and they take up the whole screen.
I think they've actually got more full on with the ads - haven't they? I swear it didn't bother me a month back - now I'm like YOWSERS, f'off already!
Do you think the ads provide a significant revenue stream for them?
For steemit inc? I don't know.
@abh12345, PALNET became trend so quickly and definitely it's great to see. Just want to know brother how much PAL MINER cost you and what's the process of it?
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PALM and PALMM are the steem-engine codes for the miners. One is 30 STEEM(P) and the PALMM is 100 STEEM(P).
Personally, I would research a little more (or ask me in a few days) before investing - I'm yet to see much return for the investment.
@abh12345, If i am not asking too much questions, just want to know one thing brother if i will buy 1 PALM then what are the benefits?
Thank you so much.
I think is hard for me to say how productive mining is at present and so I cannot confidently give you an answer. You can either gamble (like me) or wait for a report :)
This is my final question brother. If you don't mind to share then i want to ask, How many PALM Token you bought and how many PAL TOKENS you've received back and in how many days?
This will give me a perspective. Thank you so much for your prompt response brother.
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This info is in my post :)
1 PALMM
3 PALM
6 tokens in 4 days
Sorry about that brother. Thank you so much for putting your extra time to educate me about this subject. Thank you so much and stay blessed.
Posted using Partiko Android
No problem and the same to you :)
🙂👍
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If PAL reaches the value of STEEM which I believe it will very soon, mining coins will be worth it to have.
That sounds true that's why i am putting my time to know some of the experiences. Let's hope for the best results. Have a great time ahead.
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Hope to see this future unfold.
Let's wait and watch and let's hope for the best. Stay blessed. 👍
Amen to that!
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🙂👍
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Only have 1 pal( from my first pal post).Guess I don't qualify for the airdrop 😣
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Have you looked in the right place? If you have been active these past few months I would suggest you have 300 or so to claim.
I looked on steem engine,that is where it should show up, right?
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Yes there's a little coin floating top left - I missed it the first time!
Thanks! Literally was looking for a like 10 days...😅🤫
I did the same thing!!!!!
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If @blocktrades would release my over 4918 STEEM which is still pending after more than 48 hours, I would love to power up more PAL.
Argh, frustrating! Do you have an exchange account (bittrex/binance?), the fees are much less to move tokens around.
Yes I do use Binance. But @blocktrades recently put a daily limit for new users. I was over the limit and my transaction stuck. Why can't they release it the next day? Or divide into smaller segments.
I've not uses BT for a little while now and am not really up to date with proceedings. There was a reasonable delegation offer last year, but it's been a while since I've used the service for transfers. I never had a problem though.
I'm sure they will release my transaction at some point. Maybe when PAL has reached 1 STEEM, haha!
I hope the timing of this is good for you!
They did it yesterday!
Nice PAL purchase :D
Thank you! Couldn't resist the hype, haha!
I think we're all PALs here.
Nice :)
Commodore 64 or Commodore Amiga?
Edit, I have found the answer and am firmly on the Amiga side of things!
The Amiga is also a very nice system.
I’m not convinced that mining PAL is economically viable. I did buy one PALM but that was before I realized that all miners combined get only 575 PAL per day. I think it makes more sense to just buy PAL.
Considering the price was .2 PAL/STEEMP when I bought the miners, I think 1000 PAL would have been a better option also :)
Thank you for the information @abh12345.
Will give the Discord a go....
Where does one find out more about mining?
All the best.
Cheers!
My pleasure.
I have not found much on the mining, and since I wrote this post last night have un-staked my mining, err, stake :)
There is a comment somewhere in this post that says the miners share 550 PAL daily, and since I staked 200 STEEMP worth of miners, I've had 6 PAL. Personally, I would rather buy them on the market, trade some and power some up!
Apologies for the trouble...... @abh12345,
Bleujay is in the midst of a test run buying steemp with steem......yes....bought the steemp and what is the next step to buy PAL?
Nevermind......thank you.....it looks like it is working!
Cheers!
Good man!
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You know what @abh12345? Do you know what would be a very very interesting thing to try on PalNet?
How about if they ONLY allow organic votes in there? I mean, how about experiment and provide a thrilling experience free of voting Trails/Guilds and all those fucking automatisms?
A true Social Network exclusively reserved for authentic Living Human Beings engaging & interacting as living entities with each other?
Sounds that lurid, attractive and poignant enough? };)
Hmm, easier said than done I think - continue the dream though :)
W00t? ¿Are you a skeptic @abh12345?
Are you perhaps implying that no one would follow me in my dreams?
;p
Is this your commute? :)
In my mind, it always has been so!! ;)
Innovation is very good, creative. I like the innovation @abh12345
Imagine how much time it takes to deal with all the nuances of the platform.
Two and a half years and counting :D
Congratulations @abh12345!
Your post was mentioned in the Steem Hit Parade in the following category:
Oh... And I thought you were talking about aviation products. ;)
heh :)
Actually very informative this one!
Not sure how I missed the notification though.
I've got my Palnet strategy down to a refined art - just use the palnet tag and don't worry about anything else!
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Aha, so it is OK to go with the first rule of Palnet :)
Your strategy checks out!
Although I did just buy half a Palm - I figure mining is always going to be more profitable long term.
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I've gone the opposite way and un-staked mine - returned in full in 4 weeks I believe - doh.
Oh really - I'll look forward to hearing why!
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No value for a dedicated post.
I did ready there were a capped supply of PALs mine-able each day, and so the more PALM and PALMMs that are bought, the more this total is sliced up.
If I'd bought PAL at the time, I'd have a bunch and likely been able to trade and double up!
Fair enough, I just can't be dealing with trading!
You got a 24.51% upvote from @ocdb courtesy of @abh12345! :)
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Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.
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