My Investment In 10 Leo Mega Miners - 4 Days Report

I invested in 10 Leo Mega Miners (LEOMM) on the Steem-Engine platform some days ago and here is the feedback of how they are performing based on the first 4 days rewards received.

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I notice some people confuse the Leo miner (LEOM) and the Leo mega miner (LEOMM).

• LEOM mines at 1x speed while LEOMM mines at 4x speed.

• LEOM sells at 2 STEEM while LEOMM sells at 6 STEEM (which offers a 25% discount).

LEO Mega Miner (LEOMM) 4 Days Report

As I explained in the case of weed mega miner yesterday, we cannot yet differentiate the difference between the rewards received from the miners and that received from curation. So it becomes difficult to identify what you actually earned as curation and what the miner earns.

In my own cause I just bought the miners and it’ll take 7 days before curation starts trickling in i.e. going by the 7 days payout rule.

There is an easier way of finding out how your miners are performing by create a new account say ketcom.leomm and use that to buy my Leo Mega Miner which will be used only for mining activities without doing any curation with it. While that is ok, I’ll prefer a solution by the developers that doesn’t need me creating another account. We wait and see how possible that will be as we progress.

Leo mega miner 4 days report table

Leo mega miner daily reward

Explanation:

Row A represents the price of 1 Leomm which is 6 Steem.

Row B represents the numbers of miners I bought which is 10 miners.

Row C represents the cost of the 10 miners which is (C = A * B) C = 6 * 10 = 60.

Row D represents the average daily Leo mined D = (11.48 + 4.129 + 8.259 + 4.201) / 4 = 7.02 Leo.

Row E represents the current price of weed which is 0.19379

Row F represents the average daily earnings which is F = 7.02 * 0.19379 = 1.36 Steem.

Row G represents the number of days it will take for me to recover the capital invested which is G = 60 / 1.36 = 44 days.

You can see from the tables and explanation that the 60 Steem I invested to buy 10 Leo mega miner (leomm) will be recover in 44 days time if all things remain equal. As I always say, things can never remain the same in real life. Prices will keep fluctuating, more users are already loading their wallets with more leomm which means it is going to get more difficult to earn as much as we are earning now.

Joining early does help, as fewer miner owners get to share from the daily quota allocated to miners.

If you want to go into buying miners for passive income you have to think long term. It is not a get rich quick scheme, don’t base your judgment on my report and invest only what you can afford to lose, even though I invested hoping I am not going to lose this one. Lol.

Note: Please don’t take this as a financial advice, do your own research or contact your lawyer or accountant before taking any decision. If you sight me as your source of information for taking your own financial decisions I’ll say I said whatever I said under the influence of alcohol. Lol.

Image Credit: The banner is from the Steemleo introductory post

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