Hello!
Wanted to give folks an update on my PALMM. So since my last post about it, I've received both a posting reward in PAL and another mining reward so I can compare how the two look visually for you.
So far as I can tell, there isn't anything visually different when you have a mining reward to claim versus a posting reward to claim. Here are the images from my post reward:
These are all pretty much identical to my images of my mining reward. So if you're trying to keep track of your posting rewards vs mining rewards, I don't see anything in the interface of Palnet.io or Steem-Engine.com to help you distinguish the two currently. That might change in the future as the team continues to refine the project.
Luckily, we're dealing with a blockchain! On the discord, user @thebluewin let me know that you can look at the current mining power and payouts over at Steemd. Every hour there is a transaction for @minnowsupport that tells the staked mining power and the 10 winners. That was pretty exciting to learn! So the next time I had a 4 PAL reward waiting for me, I headed over to check and sure enough there it was:
https://steemd.com/tx/9ac439dfdebcaef0b80f8d0ac35c80657c98a7b5 <- this was the transaction that said I had been one of the "winners" for the hour
https://steemd.com/tx/f6917daa832541dae421edd14a5253e2efbc6339 <- and a little while later this was the transaction where I was sent that PAL.
If I understand correctly, of the staked mining power that you can read in the first transaction each staked PALM gives you 1 and each staked PALMM gives you 4. So however many you have of each of those x how much mining power they have translates to how much of a percentage of the total staked mining power you have and thus how much percentage of a chance you have of being a winner for the hour.
To summarize, no it doesn't look like there are visual clues currently to differentiate between your posting rewards and your mining rewards of PAL. BUT, it is possible to verify for yourself on the blockchain and you can use the minnow-support page on Steemd to do it. I made healthy use of the CTRL+F search function in my browser for this.
This has been a fun exercise for me and I hope some of this was helpful for you! So far, I'm pretty happy with my PALMM and what I'm learning about Steem Engine from it. It's a fun way to explore and learn more about what's possible. I'm saving up to get a 2nd one.
xo
Ciel
Thanks for the insights here on palnet. I have just joined it in between travelling but finding new things out each day.
What is mining? I claimed my airdrop and making posts now with the palnet tag and that's as much as I was told I needed to do to get going on earning pal tokens.
Looks like you've been using it a bit longer so will be looking to pick your brains a bit more about it as a user 😁
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So there is a mining pool of rewards that folks who have staked the miner tokens have a chance of winning PAL from. It's called mining, but it's more like a lottery. The more miners you have, the more chance you have of winning. There are 10 winners every hour!
So the two "mining" tokens for PAL are the PALM and the PALMM. Both are tokens you can buy on Steem Engine and you must stake them for it to be working. The PALM counts as 1 and the PALMM counts as 4. I think the PALM is somewhere around $13 ish in STEEM and the PALMM is around $40 ish (100 STEEM). There's no guarantee that you will get a payout, so it must be a long term investment. Did that help? From there, my post above should explain how to calculate your chances if you do end up getting one.
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Ah OK, thanks for the explanation. I'll have a look into it all in the next few days and see how I get on.
I'll be staking everything any way so hope to get some of these coins soon and earn them passively if the opportunity arises (whilst earning PAL from posts).
Is the PALM & PALMM separate from the Palnet account or does it all fall in to steem engine?
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Hmm... I'm not sure I understand the question? PALM and PALMM were both issued by Palnet and can be purchased on the Steem Engine exchange.
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Don't worry, it's a little beyond my technical understanding at the moment so will just try and accumulate pal tokens from posting 🙂
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First time I have heard about PALMM. Seems like a good investment. I'll try to read more about it and see if we could afford a miner lol.
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