Alert: MiamiCoin (MIA) Update 4

MiamiCoin ($MIA) is trading around $0.02.

In terms of supply, for the first 10,000 blocks, 250,000 MIA are awarded per block (every 10 mins) to winning miner.

If there are 2,100 blocks every 2 weeks, there are about 150 blocks per day.

That means 37.5 million MIA are minted every day.

I use https://miamining.com/statistics to find the current supply.

Current estimate is 756.5 million MIA.

At $0.02, the MiamiCoin ($MIA) is a $15 million dollar project.

Meanwhile, $MIA mining has generated almost $3 million dollars.

What’s the cost to mine?

Pre-OkCoin listing - on average .0031 STX, so multiplied by $1.40 STX, equals about $0.00434. That’s about four-tenths of a penny per MIA to mine a block.

Yes, the price is now trading at 5X on the open market. Well, not necessary open market. Not all OkCoin customers have access to MIA and not all crypto investors use OkCoin.

Why not start mining and capture the arbitrage opportunity?

What is mining like after the OkCoin listing? The STX committed to each block rose from 600-800 to 1500-2250, so I stopped trying to mine. As discussed previously, MIA mining is based on random probability. There’s no guarantee to win any block. There are no partial awards.

Sure, you can bid 500 STX (value $750) and try to win a block and earn 250,000 MIA ($5,000). What if someone else bids $500 too, such as the case below? Well, one of them did win, and the other lost—as did all the other miners.

Here’s an example—the block before the one above—where the two highest bidders lost!

Here’s an example where many of the top bidders lost.

So, I expect the market price to be multiples higher than the average mining cost due to the fact that the highest bidder doesn’t always win. It’s random.

Here’s a rare case where 2 STX (value $3.50) won 250,000 MIA ($5,000)!!! The only issue not seen here is how many times did this miner bid 2 STX? 50 times? 100 times? 200 times? It all looks easy, but it’s not.

How to prevent 37.5 million MIA from flooding the market and crashing the price?

Staking MIA—miners are earning 70% of the committed STX (the Miami wallet is collecting the other 30%).

Let’s say 1,300 STX per block on average were bid for 2,100 blocks, that’s 2,730,000 STX. Multiplied by STX valued at $1.50. That’s about $4.095M in miner fees.

There are 329.5 million MIA stacked for the first cycle, which started about a week ago, and the next cycle starts in about a week.

That $4.095M is proportionally shared across the 329.5 million staked MIA. That’s a $0.0124/STX.

That’s an incredible rate of return! Just for staking for two weeks, a stacker has earned $0.0124/STX!

250,000 stacked MIA is $3,016.98 in two weeks!!!

500,000 stacked MIA is $6K in two weeks!!!

Cycle 2 starts soon, so expect the market dynamics to change with respect to STX committed per block.

If the price of MIA increases, STX committed should increase.

If the price of STX increases, the value to MIA stackers increase.

If more exchanges offer MIA trading, expect a change.

If the MiamiCoin ($MIA) receives some press.

All-in-all, stay tune for an ever-changing landscape.


There is a six-week hackathon running currently. Get involved.

Finally, will you try to mine MIA and/or stack MIA?

Just remember that the MiamiCoin was at $0.02 one time. It’s future wasn’t certain, which is probably why you will pass.

If you are crazy enough to drop $100, you’d get 5,000 MIA.

$1,000 is 50,000 MIA.

OkCoin is the only place to buy MIA: https://www.okcoin.com/join?channelId=600016761&ltclid=c943c1cb-3e79-4527-88cc-0f1cdab190a7

If you think the price will drop to $0.01, enter a buy limit order for one penny. You’ll get twice as much. However, if the prices moves to $0.03, you’ll get have of what you’d get today.

Make a move. Don’t just sit there.

It’s worth a small bet.


Disclaimer: https://www.101blockchainst.com/pages/disclaimer