One month ago i upgraded my Genesis Ether address: 0x6D93B6753130215E9f8C51b034B04b3700F7438b from Level 1 to Level 3 for about 0.35 ETH (~$ 60) including Gas Fees. So far i have mined 67.07456 MNE + 7 MNE that have been already transfered to livecoin exchange. I knew Minereum was designed to mine all distributed tokens within 50 years. Gives you a restricted mining rate of 1.75 MNE per day. So this means after 2.5 years i will, depending on the price, have mined 1600 MNE and luckily have my break even and if i wait further 2.5 years (after 5 years) i might have a plus of 100%.
What is Minereum?
Minereum is an ERC-20 token and is designed as a self-mining smart contract (White Paper). But what is a smart contract? The definition of a smart contract is
A smart contract is a computer program or a transaction protocol respectively, which is intended to automatically execute, control or document respectively legally relevant events and actions according to the terms of a contract, of an agreement or of a negotiation. The objectives of smart contracts are the reduction of need in trusted intermediators, arbitrations and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.
Related to that definition, Minereum is a computer program that generates its tokens on the ethereum blockchain and execute the mining process automatically, after literally checking the users credibility. (upgrade your genesis address from level 1--> level 2 or higher). After verfication the genesis address and its user is legit to start the mining process with no further reduction of need in trusted intermediators, arbitrations and enforcement costs (max. is 0.3 ETH to upgrade the address to level 3).
Remember only MNE that was self-mined can be transferred which requires level 2 or 3 activation which has an activation fee.
What is the benefit of all that?
Well first of all you don?t need to buy any expensive traditional mining equipment, you just pay the fee to upgrade the Genesis adress and that?s it. Second, in the end, but only everything is developing well and the price is going up again, save money and make a profit.
Where is Minereum now?
So far Minereum have seen a huge increases and decreases (all time high of $14,00 (Jun 16, 2017) all time low $0,002260 USD (Aug 03, 2019)) and currently the price seems to stabilize.
All time price development
90 days development: MNE Price seems to hfinding its bottom at. A good chance to invest?
24 h development: MNE price is slowly increasing. But a day could mean nothing.
The opinion about Minereum
I have seen people are joining the telegram channel of the minereum network cause they have no idea how Minereum works (How it works/How mining works). Many of them ask if they could trade their unmined 32,000 MNE tokens directly or they like to sell their genesis address. Most of the user doesn?t does contribute constructive content into the group, reflecting the current situation about minereum:
Current situation about minereum. 33 % of the people feeling well about MNE while 2 of third dislike minereum.
Since my last post this situations has become better with an increase of +33% more likes than before. Coinmarketcap.com's on-Chain tool from intotheblock.com analyzed the chart and displays the following results:
Analysis of the actionable signals for the Minereum token.
Summary
What can i say? It remains totally open how MNE will develop pricely. Maybe there will be a next pump in one or two years or nothing will happen but i?ll be optimistic and think that somewhere within the 50 years i?ll get the chance to sell my MNE and get my money back. If you like this article please check out my other blogs.
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