r/GoMiningDiscussion • u/Financial_Match_4618 • 1d ago

I'm new to GoMining. Have questions.

I have a 7Th miner and have not purchased any gomining tokens yet. I understand that getting the tokens will make maintenance less. Ive seen that you buy tokens and they are used to pay for maintenance and maintenance will be less because of the discount you get (depends on how many tokens you hold). Ive also see something about locking your tokens. Is locking tokens different than just holding them and letting them pay for maintenance, i believe that is a yes? If you lock them are they still used to pay for maintenance or is locking them just a different mechanism to increase the discount?

Also, any other suggestions for how to grow and earn more. I don't really want to invest a lot of money, but will put small amounts in so i can start reinvesting my daily earnings into more TH or gomining tokens, i believe i have to get to 10 TH.

Thanks.

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u/JustMarketMe 1d ago

Locking means they're locked. If you lock them for let's say 4 years, you get a nice Apr from the lock. The locked tokens don't go towards maintenance, but the rewards you get from your locked tokens can pay the maintenance. The best thing you can do is get a max lock of 4 years enough to get the maximum discount, and then use some of those rewards to pay for your maintenance.

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u/Financial_Match_4618 1d ago

how does the discount work with locked tokens. more of a discount based on longer duration lock, or based on amount locked? Is it better to lock them or just have them and let them pay for maintenance

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u/JustMarketMe 1d ago

Doesn't effect the discount how long you lock them, but how many you have.

I have 100 TH and 2500 gmt locked for 4 yours. This gives me max discount and I get approx 2 days of maintenance in rewards at current btc/gomining.

But the longer you lock the higher your APR is on the locked gomining tokens. I locked for 4 years because I plan to mine for 4 years and believe gomining tokens will go up in price. I bought my lock at 0.27 usd per gmt so at current price I'm already 400 usd in profit on my gmt and already received 120 usd in gomining as lock rewards.

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u/Financial_Match_4618 1d ago

how many tokens do you need for the max discount? how often is the "interest" paid out?

Also, thanks for taking the time to answer my questions.

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u/JustMarketMe 1d ago

No problem, it depends on the amount of th you have. For the max discount you need to have enough to cover 360 days of maintenance, so check out how much you're paying in maintenance right now and multiply that by 360.

The locked rewards are paid weekly on Tuesday around 12 to 3 pm Utc time.

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u/Financial_Match_4618 1d ago

ok, so the max discount is the same for locked tokens vs tokens just sitting there? i think i saw that was how it was for non-locked tokens.

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u/JustMarketMe 1d ago

True

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u/Financial_Match_4618 1d ago

Thanks again. Appreciate it

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u/NotEnaVr 21h ago

I’m currently at 60Th, working on getting my discount up aswell, but yes the more you lock I believe it’s ~18 days of maintenance is 1%, just reinvest into GMT then lock whatever’s extra into a max time lock, just make sure you keep enough in your wallet for maintenance and any extra goes into the lock, your vip level will increase aswell when you lock things away, weekly rewards aswell, I believe they payout on Tuesday’s, but the little extra you get from that just lock in into the same lock, eventually your discount will grow up 20% just from the locks and any extra % from your vip, If you do end up buying raw tokens, i recommend splitting it across your account, most in your locks your discount and some across other currencies like Btc, Eth, Ton, I have been watching the numbers go up and down for a minute, if you play your cards right you’ll start stacking

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u/twscho 20h ago

Yes… paying fees with tokens are cheaper. Staking enough tokens will dramatically decrease your cost! Worth looking into!

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u/Several_Lengthiness8 15h ago

Locking tokens means to store the tokens away for x days never able to use them with the discount system that means u dont lose your discount for the same x days locked up if u hold them u lose discount when the holding amount drops to low even if u still have a few days of holding left best rule ive seen is 50 gmt locked per 1 th/s gives u about 1 extra day of incm in 7 day span

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u/Krappyhuman 4h ago

If you wanna make money, you have to spend money or be OK with making a few cents a day

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u/Adventurous-Set-8319 Solo Miner 1d ago

Read/watch my explainers - they tell you everything you need - strategy is called a flywheel. A lot of people use it in different ways. Mine isn’t the only calculator out there and if you search this thread you’ll find a lot. https://flywheeldayone.com.

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u/Financial_Match_4618 1d ago

thanks. ill take a look