If you're a regular on leofinance, you couldn't have missed the KOIN hype, mainly because of @edicted posting about it with greater frequency than anyone on here's been able to mine any of it.
I downloaded the miner yesterday and never having mined anything before, I've enjoyed setting that up and watching it do it's thing - and I've even managed to mine some KOIN, although it's obvious before crunching the numbers to date that it really isn't worth the ETH fees for the KOIN I'm getting, so I'll probably switch it down to its lowest setting for a few days to see how it goes for a while longer and then switch it off and take my ETH out of there.
The rather dismal rate of mining returns and a couple of posts (by @edicted) about Uniswap prompted me to exchange a little ETH for a few thousand KOIN this morning, and I must say seeing that turn up in my wallet with immediate effect was much more satisfying than the depressing mining dribble-in.
I then staked a couple of thousand in the liquidity pool, not too much, just to be in it really.
So having gone for a relatively small-in, in I got to wondering why I've invested, and I think it comes down to eight main reasons:
Andrew Levine - most of us have no clue what he's talking about, but he's nice to look at.
This new blockchain is going to have 'behind the blockchain modular upgradability' according to Andrew Levine, and a whole load of other really cool sounding features involving words like 'granularity' 'inter-operability' and 'innovative state paging '.
I've no idea what any of that means, but let's face it, Andrew Levine is some serious eye candy. I mean, I could just listen and nod and smile along all-day while he talks about blockchain... 'wow, cool, yup, amazing'!
The team is 'battle hardened', and they've got Vanderberg, who is basically the main guy that ran 'Steem' right? I've got this vague idea from somewhere that he knows his shit. And that combination, of at least one coder that knows his shit and a Face, well that's a recipe for success right there!
This sounds like a really innovative idea - a blockchain that puts decentralisation at its very core and makes it as easy as possible for developers to build on top of it, making it especially useful for social media applications. I've never heard of that kind of thing before happening on Steem or Hive or EOS.
And 4 means $10 KOIN moon just around the corner right? So all I have to do is stack KOIN and it's Lambo time probably by 2023 at the latest.
I'm a mellow kind of guy and watching your ETH drain away gradually mining KOIN for a crap rate is just so much less stressful than waking up finding half of it gone following a Uniswap hack, but because I'm also a masochist I've got the latter option covered too.
I really just want to be a very large fish in a small pond and there's no way I'm sitting back and watching people who have got less Hive than me accumulating more KOIN than me - just in case that's what takes off, it's going to be my tail making the waves on whatever comes of Open Orchard!
I really like the accessibility of Koin mining - it's really accessible to crypto newbies - all they to need to do to get started mining KOIN is open an exchange account to buy ETH, set up a metamask wallet, transfer eth to said wallet, download the Koinos miner, change their security settings on the computer to get it working, secure their keys on said miner, set up a new node to act as end point address, paste that into the Koinos miner, link their ETH wallet, send ETH to the Koinos miner, decide on an appropriate proof frequency and click 'go'. It's really that simple!
But seriously, I've never mined anything before, so that was kind of fun, I think the team knows their shit, I am a fan of blockchain based Dapps, and I like a punt, and you never know: this might take off. Got to be in it to win it.
And then there was the fact that I had a bunch of ETH just sitting in Metamask following the whole WLEO thing, I may as well do SOMETHING with some of it rather than just waiting for WLEO 2.0
If you want to read more about koinos and koin - check out Koinos.io where you can spend 10 minutes oggling Andrew Levine and then download the ETH draining KOIN miner if you like.
If you'd just rather Swap ETH for KOIN - this link gives you the options:
This post is not financial advice and is written for entertainment purposes only.
Posted Using LeoFinance Beta