NOW is the time to mine when diff is low, or buy when price is cheap. Why? Because the interest rate is high, so compounding will turn even a modest balance into a big one.
Consider this:
- You receive 100,000,000 PEEP, turn off your wallet, and forget about it
- 365 days later, you turn your wallet back on, and stake with a reward (interest) of around 100m PEEP
- Balance after 1 year: 200m PEEP. Not too bad.
- If you turn your wallet on once per year, after 3 years you'll have about 800m PEEP.
But now consider compounding interest:
- You receive 100,000,000 PEEP and keep your wallet running (or at least let it run for a bit every day or two)
- Your initial daily interest is roughly 1/365th of your principal (about 273k PEEP) per day, BUT, because you are staking regularly, you also earn interest on the interest. Your balance grows exponentially.
- Balance after 1 year: 270m PEEP
- Balance after 2 years: 732m PEEP
- Balance after 3 years: 1989m PEEP (nearly 20 times your original balance)
...and so on year after year, with the balance increasing by around 2.7 times per year. Because of this exponential explosion the effective returns become higher as time goes by.
...like really, really, ridiculously high (100 million PEEP left alone for 5 years turns into 14 billion PEEP), which is probably going to devalue the coin further.
So now is the time to build your balance.
Consider this:
- You receive 100,000,000 PEEP, turn off your wallet, and forget about it
- 365 days later, you turn your wallet back on, and stake with a reward (interest) of around 100m PEEP
- Balance after 1 year: 200m PEEP. Not too bad.
- If you turn your wallet on once per year, after 3 years you'll have about 800m PEEP.
But now consider compounding interest:
- You receive 100,000,000 PEEP and keep your wallet running (or at least let it run for a bit every day or two)
- Your initial daily interest is roughly 1/365th of your principal (about 273k PEEP) per day, BUT, because you are staking regularly, you also earn interest on the interest. Your balance grows exponentially.
- Balance after 1 year: 270m PEEP
- Balance after 2 years: 732m PEEP
- Balance after 3 years: 1989m PEEP (nearly 20 times your original balance)
...and so on year after year, with the balance increasing by around 2.7 times per year. Because of this exponential explosion the effective returns become higher as time goes by.
...like really, really, ridiculously high (100 million PEEP left alone for 5 years turns into 14 billion PEEP), which is probably going to devalue the coin further.
So now is the time to build your balance.
But if the network is dead?
Network isn't dead, there are just no pools out there. The only way to mine peeps is to solo mine.
