PALMM Mining - My 1 Year Experience with PALMM

Hi LEO-folks,

with the recent price action for the PAL coin, I think it might be interesting to do this article and share my experience for using the PAL Mega Miner over the last year. Right after its introduction I bought 11 PALMM for 100 Steem each to get some basic PAL income over time. Not one of my best ideas...

I already made a post about the first 13 days of experience that you can find here. In this analysis, I compare the cumulated mined PAL per week (Saturday to Friday) in six consecutive weeks for 2019 and 2020. Please see the results of this analysis in the following graph and table.

In 2019 the total number of PAL/PALMM mined was 24.2 PAL over 6 weeks, with a mean number of 4.03 (n=6, Range 2.35-6.51) PAL mined per weeks.
In 2020 the total number of mined PAL/PALM over 6 weeks increased by 20% (same period of time) to 29.1 PAL with mean number of 4,85 (n=6, Range 3.47-7.98). So in essence mining with PALM 20% more efficient as it was in 2019.
In 2019 the price of PALM was at 100 STEEM in the beginning, but in analogy to the price of PAL decreased considerably in the last year.

There is almost no liquidity with very few PALMM on the Market at the moment and therefore the prices are extremely volatile with 28 HIVE as the first sell order. Demand is quite sparse with a maximum bet price of 5.5 HIVE/PALMM.

It is therefore not possible to define a reasonable price from the market at the moment. However, doing a break-even calculation, when I bought PALMM in 2019 for 100 STEMM, 270 weeks of mining were required to earn the amount of PAL to get back the buying price. With the dramatically lowered price of PAL today, a buyer of a PALMM for 28 HIVE would need to mine 5.5 times longer for 1496 weeks (28 years) to get his investment back. Going the other way around, a reasonable price for PALMM, with a break-even time of about one year and factoring in the very low PAL price in, would be around 4 HIVE.

I hope this article was valuable to you.