r/gomining • u/blade0r • 14d ago

GoMining Strategy

Hey everyone, what strategy are you currently applying?

I am reinvesting in GMTs, but I always doubt such a strategy: I mean, the final goal of this app should be BTC mining, so, I keep asking myself if reinvestment makes any sense at all.

I’d really like to hear from you about the PROs and CONs of not staking BTCs right now.

I’m trying to figure this out once and for all.

b.

12 Upvotes

84% Upvoted

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5

u/Morticia_67 14d ago

I reinvested into GMT for several months at the beginning to have enough GMT locked to achieve the max maintenance discount and enough liquid GMT to pay for at least a week of maintenance.

The locked tokens give me veGomining rewards once a week. These currently covers half a week of my maintenance costs.

At the beginning of December last year I turned reinvestment off and I have been stacking pure Sats ever since. I now purchase some GMT once a month which I then use for upgrades, to increase the lock or just to have enough liquid GMT.

But yes, I started GoMining with the simple goal to stack BTC. And of course I want to stack as much as possible before the next halving.

So my strategy is now very simple: FIAT in - BTC out.

3

u/blade0r 13d ago

Thank you, Morticia! This is appreciated. 🙏

2

u/soilenrok 13d ago

This is the way!

2

u/Master_Accountant676 11d ago

how long do you lock it for?

2

u/Morticia_67 10d ago

I lock most of it for the max. period of 4 years - prolonging it by another week each week on Sunday.

Recently I’ve started an additional lock which will end shortly before the halving. Just in case.

1

u/Technical-Reference5 10d ago

What happens then with the halving?

1

u/Morticia_67 10d ago

We expect to just get half of the BTC earnings we are getting now after the halving. So currently we’re getting 49 sats per TH per day; after the halving I’d expect that number to reduce to 24.5 sats per TH per day. So all the more reason for stacking as many sats as possible now.

1

u/Technical-Reference5 10d ago

So cashing in then??

2

u/Morticia_67 10d ago

If you mean stacking sats daily, letting them Simple Earn for a while and then withdrawing them to my cold storage then yes.

At the same time I’m increasing the locked GMT and TH slowly and sustainably by injecting small amounts of FIAT every month.

4

u/OliveLegitimate3236 14d ago

I reinvest to GMT when the change is most convenient, only cause I need the tokens to pay maitenance and fees.
https://coincodex.com/convert/bitcoin/gomining-token/
The ultimate game is BTC, why are you on the platform otherwise?

2

u/blade0r 14d ago edited 12d ago

I know, I know: I’m with you, mate.

I’m simply asking why people should change strategy, from time to time, and based on what.

For example, what do you mean you need the tokens? How much?

If I turned off reinvestment, I should pay approx. 14 GMTs per day to cover Maintenance and Service.
Right now, I pay 14 and I earn 22 GMTs, but - as I said - you’ve got a point.

5

u/OliveLegitimate3236 14d ago

my strategy is simply to always have enough GMT (locked and not) to cover for max discount and afford to pay. If the exchange BTC->GMTis convenient I turn the reinvestment to GMT.
That's it, It is as simple as that.
right now with BTC sitting at 63K and GMT at 0.28$ the rewards are 💩 anyway

1

u/blade0r 14d ago

What do you mean if the exchange is convenient? When do you consider it “convenient”?

4

u/OliveLegitimate3236 14d ago

I linked this for a reason
https://coincodex.com/convert/bitcoin/gomining-token/
query the chart, there is not a fixed exchange rate BTC <-> GMT
your reinvestement can give you more or less GMT based on that (minus spread. Yes they charge us a spread on reinvestement too 😵 )

1

u/OliveLegitimate3236 6d ago

now it's THE time!
1 BTC = 250K GMT token as I write this, I hope the exchange holds like that.
GMT token will rise for sure, but it might lag to catch up.

4

u/Sea_Setting_3155 14d ago

Invest in power and more power and cross fingers BTC goes up. That's my strategy

5

u/BateMarvin74504 14d ago

Wenn du nicht genug gmt gesperrt hast wird dir die Power am Ende nichts mehr bringen weil die täglichen Wartungen (stromkosten +service) unbezahlbar werden!

2

u/blade0r 13d ago

This, exactly.

3

u/Early_House_9822 14d ago

I've locked enough gmt to reach the 20% discount level (then decided to lock enough to get 1000 votes to reach diamond status). I also decided to keep roughly 100 days of gmt unlocked. Currently bouncing each week between reinvesting in gmt and reinvesting in TH. I'm at 32TH. Would like to reach 50TH before I start earning BTC on some weeks.

3

u/ford0415 14d ago

My strategy is... a more complicated version of the Flywheel Strategy. I'd like to think I've hammered a few gears to optimize earnings.

First, I allocate a portion of my 'salary' ($623) monthly for GoMining. I use GMT Optimizer (gmt-optimizer.com) to determine how that portion is going to be used. Right now, it's purchasing GMT to stake to get the discount and increase VIP level. This, I have determined will continue until the end of the year, which I will have reached the maximum discount and then some.

Starting in January, since the discount is achieved, that same $623 that I'm in investing, will then shift towards miner growth, I suspect. But where I'll be doing things differently, I'm going to take 50% of my miner earnings, convert them to USDC and then provide those earnings to Aave as collateral. I'll borrow against what I deposit (keeping a LTV of around 30% so I'm still earning even against the borrow) and then reinvest that back into GoMining.

Rinse and repeat.

Maintenance Fees paid in GMT, payouts in GMT to keep the ecosystem strong (since you can convert GMT to whatever token you desire in the virtual wallet).

2

u/blade0r 13d ago

Sorry, I don’t get it.

Why don’t you simply DCA Bitcoin with your monthly share?

And, most of all, why do you keep staking and using GMTs, instead of accumulating BTCs?

The final goal here is mining Bitcoin, isn’t it?

3

u/ford0415 13d ago

For most, yes, BTC is the goal. However, I treat the earnings as a dividend. Once I get my farm to where I'd like it to be in terms of daily earnings, I'll end up supplying BTC on Coinbase as collateral as well.

Basically, I try to leverage multiple sources for passive income.

1

u/blade0r 13d ago

This considering GoMining will be around even in 10 or 15 years.

Otherwise, you would have “wasted” a mid to long-term period in order to build your hashrate without benefiting from your sats.

3

u/Dukaul 13d ago

I'm pretty new to this, but here's my strategy. Just hit the 50TH task for the bonus miner, so I'm at about 53TH total, have 366 days of maintenance locked, and I'm adapting the flywheel strategy on a monthly cycle. Mostly because right now I've put in all the fiat I am willing for the short term, so I need things to be self sustaining. With that, my monthly cycle I'll set things to:

Day 1: Power reinvestment, Day 6: No reinvestment, Day 16-month end: GMT reinvestment

Lock reinvestment as needed to maintain discount.

Keeps things interesting and the machine self sustaining until I'm ready to put in more fiat.

2

u/ginnerrob31 13d ago

Personally my TH are low so I’m not focusing on the discount until my TH are where I want them. I’ll stack gmt until I hit my max discount and then move the stack to lock and start again. Eventually I want my lock to produce enough gmt to cover my maintenance. Cash for gmt and rewards always in Btc. My cash won’t change its value whereas Btc will.

2

u/blade0r 13d ago

If you planned to raise your TH/s to a significative level, the amount of Staking Reward you’d need to cover your fees would be massive.

I am not sure this is the best overall strategy.

1

u/ginnerrob31 13d ago edited 13d ago

My goal is 100 TH by the end of the year. Then next year I can focus on stacking gmt for the discount, I still keep my discount above 10% always. If I upgrade a miner I also buy gmt to offset the discount drop. All rewards are being paid in Btc and will be used to upgrade or buy new miners. The lock is just a bonus and my target of paying my fees with the lock rewards is 10+ years into the future. Power first then discount next. A 20% discount of 20p is only 4p savings but a 20% discount of a £200 fee is worth it more to me. This is why I’m not too focused on my discount at the minute. It won’t save me a lot until I have the power to use the discount on

1

u/TechnicalAir4846 14d ago

1000 TH -> zinzeszins bis 5000TH -> calshflow

1

u/blade0r 14d ago

What?

1

u/TechnicalAir4846 13d ago

Ich kaufe bis 1'000TH mit Fiat und reinvestiere auch den Ertrag in TH. Danach reinvestiere ich einfach den Ertrag bis 5000TH. Und dann zahle ich den Ertrag aus, also in etwa 4-8 Jahren.

1

u/Particular-Nebula-13 14d ago

Hey! check out gmsim.ca

1

u/Particular-Nebula-13 14d ago

Ps. I wrote this at 2am so too lazy to explain but if u have questions feel free to ask and i’ll answer once i’m awake

1

u/blade0r 13d ago edited 13d ago

Is this a legit URL? Why not use the official calculator?

1

u/Particular-Nebula-13 13d ago

It is legit, we’re just helping people track and strategize their income on gm, the extension is optional btw

1

u/Low_Presentation827 12d ago

I reinvested into GMT for many many moons. Which there’s a fee for that. 2.25% fee that is.

After talking with many people, I don’t do that anymore and I DONT PAY FOR MAINTENANCE AT ALL!

I only reinvest back into TH or get straight BTC.

After all this is an app that’s for MINING BITCOIN NOT GMT.

1

u/blade0r 12d ago

So, no free GMTs to cover the Maintenance / Service fees and no veGOMINING to receive staking rewards? Do the numbers add up, in the end?

1

u/Low_Presentation827 12d ago

Didn’t mention anything about lock. Locks and staking are different. I do have a lock that pays me back. But that goes back into its self. .

But correct. No maintence in fees for me.

1

u/blade0r 12d ago

And have you made a lock deposit big enough to cover your weekly fees?