How Much Can We Win On Tokens? – A CCC Case Study

Summary

• On the Steem blockchain, hundreds of “Steem-Engine tokens” are flourishing, I analyzed one.
• I was mostly upvoting posts and receiving rewards for it.
• I almost doubled the number of my coins in 70 days.
• CCC Steem-Engine tokens doubled in number but price fell to one third.

The adventure began with an airdrop

Somebody “airdropped me” 1000 CCC tokens (CreativeCoin) on July 23, 2019, or some days before but on this day I staked it. I was using them for what they are invented for, in the first place: to manually curate, reward blog posts, photos on the page of the community.

(What are these Steem-Engine tokens? Read it here.)

I have posted only 3 or 4 own articles on this page and they earned only approximately 120 CCC-tokens. So, the overwhelming part of my “incomes” came from curating. No robots, no auto-voting, no blind voting on titles. Although I recognize, I’m sometimes only voting on the cover pictures which I look big sized in the news feed. (Especially if I know the author always shares one-picture-only posts.)

CreativeCoin Steem-Engine tokens doubled in number

I made almost every day my homework, I seldom reached 100 percent of the voting power. That means, I haven’t lost voting revenues, or, only a very few tokens. At the time of writing, 70 days later, I have 1962 CCC-tokens staked, an increase of 96,2 percent. On an annual basis that would be 496 percent. That means, if nothing changes and I make the same earning in a whole year, 365 days, I would have a six-fold amount of tokens, near 6000 CCC.

Or, better, if we calculate it exponentially (we calculate also compound interest), approximately, 33-fold. Why? Because 1.962^(365/70)=33.59. (Or, with common sense: the double of the double of the double of the double of the double => 2x2x2x2x2 => 2^5=32, approximately. More than five times the same growth I measured in 70 days.)

Chart: Price of CCC tokens in STEEM (Data source: api.steemengine.com)

Working hard to lose

Fabulous, fantastic, 33-fold in a year? Really? Really. The problem is: one CCC-token was only 0.00772 USD worth at the beginning. The original 1000 tokens had a value of 7.72 USD on July 23, 2019. Now, only $0.00262 one coin. The value of the whole package: 5 dollar and 14 cents. I have worked 70 days, I guess 8-12 minutes a day, or about 700 minutes – 12 hours – since the end of July to lose 2.5 dollars.

The price of CCC in USD terms fell 66 percent. Now it is only one-third worth of it, as then. The price of Steem was down 46 percent, to 0.1324 from 0.245 USD in the same period. So, this token has underperformed Steem. What doesn’t mean all Steem-Engine tokens have. All this doesn’t mean either CCC is a bad token, or worse than others. (It has only bad luck I staked it and watched it closely, sorry. I will analyze more tokens, also some with price increases.)

When Lambo?

Now I can buy one or two mugs of beer in a bar if I sell my tokens. OK, it’s not all about money, I simply like to look at nice pictures or read some accompanying stories. The big, fake-naive question is: When Lambo? (Lamborghini.) Will altcoins ever rise again? If so, will Steem ever rise again? If so, will Steem-Engine tokens rise ever? If so, will CCC token rise ever…?

Update: I made a price comparison chart of 30 different tokens, you can see it here.

Too many questions. Too many doubts. No conclusion. These tokens are indeed a risky investment. By investment, I mean also the invested time and effort.

This post was published first on Turboyield.net

Disclaimer 2

I have CCC and open buying orders for CCC, LEO and PAL at low prices.

Disclaimer

This website and the information contained herein is not intended to be investment advice or credit analysis. I’m not a financial advisor and I have no business relationship with any investment or finance-related company. The posted material on this blog is my personal opinion or quoted from other sources but never advice or an offer to buy or sell any product. Make your proper research, or consult your advisors before making any investment or financial or legal decisions.

(Picture: Own work)