7 days ago I purchased 7 LEOMMs on Steem-Engine. Read this if you don't know about Steemleo.
Although I've never considered myself to be someone who has anything to say about Investments in the traditional sense, I realise that we are not in a traditional setup by any means and 'old' definitions do not apply. The Age of Decentralisation is also the Age of the Empowered Peer. We are all invested here to a greater or lesser extent - in crypto, as well as with our time and energies. Thinking about how I talk about crypto and the blockchain with friends and family who know little of it, I realise that I do have an opinion on Investing in crypto - how I do it, how it is a powerful world-changing tool, what is important to me etc.
I feel confident and comfortable that I can blog about investing if I feel like doing so, even though I've never gone near stocks and shares and have in the past held my nose as I walked through financial districts and the glittering glows of rampant Capitalism. I'm mellower now!
Anyhow, the SteemLeo project had fleetingly caught my eye when Khaleelkazi was having a logo commissioned on the blockchain. Then came the Airdrop and a generous-looking plonk of 1257 LEO tokens into my Steem-Engine wallet. I investigated and read further and found that I really liked the look of the project as well as the clarity with which it had been laid out and communicated.
I decided to invest in 7 LEOMMs - Mega-Miners for the LEO token. I did this 7 days ago and the transaction cost 42 Steem (+1% SE fee).
I decided to monitor the how the mining went for 7 days.
I have not used the 'SteemLeo' tag in a post before and I left all my mined tokens unstaked. All my unstaked LEO tokens were therefore mined, no curation AFAIK.
What I began to notice was irregularity, not so much in amounts - which I would expect - but in frequency of payout. I had imagined that payouts would be at regular intervals. For a period of a day or so I seemed to receive no tokens at all and wondered if something was amiss.
WTF was going on with the miners......were they on strike or what?
Just as I realised I needed to look into this for some more info, I saw a post entitled: "Mine LEO Tokens Passively | Your Ultimate Guide to LEOMM and LEOM".
Sounded as if 'Ultimate Guide' might enlighten me on the issue!
And it did, for it provided with me with the explanation for why the LEO tokens were being mined at irregular intervals! It was an explanation that jingled my betting nerve and I was actually really pleased with it. You can read the details below or in the original post, linked above.
(tl;dr?) It's a lottery!
"There are 30 winning miner “tickets” per hour, every hour of every day —> 30 potential winners each hour!"
And sure enough folks, when I returned to Steem-Engine after understanding how the mining works, I found myself to have won a number of such 'lotteries'.
Education through Demonstration!
In the 7 days that I have been mining, my 7 LEOMMs have mined me 22.756 LEO tokens - a number which, incidentally, whilst certainly containing a 7, is not itself divisible by 7. I hung around in the hope of winning another lottery and getting a multiple of 7, but I guess that will happen once I've posted this :).
On average I have made over 3 LEO tokens per day. I did this passively, just as it says on the tin and no doubt, I'll earn some more blogging about it lol.
Are you FOMOed-up yet? Better hurry now, only another 66k or so left and they're disappearing like hot cakes 😱.
Seriously though, the Age of Abundance is swiftly descending upon this tired ol' world of Scarcity and Fear. Embrace this New Paradigm friends, no one needs to go hungry! Casting envious sideways glances at the stashes of others is simply a vestige of Old Think and gives one belly-ache!
Thanks for reading 🔆