Do steem engine miner tokens make money?

in #crypto5 years ago


Hello, does anyone out there own Leo miner tokens? I bought 10 around month back as a tester and i have to say i completely forgot i had them until this morning when i looking through my wallet. This leads me to think that they are worthless and not a very good investment. I think i paid 6 STEEM each for them and i have no idea if the return as i noticed completely no difference in my rewards. I use the tag in some of my posts and they never earn more than 1 are 2 LEO a day. I think from i last stacked around 2 weeks ago i have earned around 19 Leo which i think is mostly from payouts.

Do you own any miners?

What have been your expeniece's with mining tokens? I think i might not have set it up correctly are something, i bought them and staked them. I think that's right? It's only 10 but i thought i would have at least noticed some sort of different. Right now it looks like just buying LEO's would have been a better play.

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You might have been just really unlucky since it comes down to probability.

I'll HODL and see what come of it

They don't really make sense in the short term.

If you bought LEOMM, then you probably paid about 60 STEEM for those ten miners. If they continue to average 1/day and the price of LEO/STEEM remains about the same then:

1 LEO= 0.09 STEEM/day
60 STEEM/0.09 = 666 days for payoff

Of course, if the LEO price rises then this time comes down. @ 0.12 your looking at 500 days. @ 0.2 you're looking at 300 days. @ 1 it's only 60 days.

And on top of this, if you don't buy more miners, your proportion of the total mining power will continue to decrease as more mining power is sold. You probably won't continue to get 1/day.

Don't get me wrong though, I'm a big fan of them. I happen to believe that LEO will do well long term and the price will rise. This will shorten the time to payoff, and when they are paid off it's all free LEO from there. Besides, the final supply of miners is limited and decreasing at this point, so eventually they will all be bought up. Maybe the miners price will go up then too :-)

I sure hope so anyway. I bought a very big batch :-0

I plan on keeping them and continuing to buy and keep my percentage of the mining power about the same. One day, it will all be gravy :-) I can wait.

Thanks for the great reply,

Sounds like a bad investment if your required to buy more of a deluted token pool just to keep up and then hope they pay off in 18-24 months.

I just gonna HODL for now, but i if i see a big gap in the market price and i can get a few really cheap i might add another 10. lol

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I recommend you take a look at @bwar He publishes daily results on his miners.

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