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RE: My (stupendously stupid??) STEEMLEO Success Strategy!!
Did you buy 2137.362 LEOMM at around 12K Steem assuming 6 Steem per one? You could have bought 120K LEO and curate to earn couple of times more LEO. Only extra work is curation time which I believe that you are already spending.
However, It is a hard problem to decide buy miner or token with miner's money. In early days of mining (3-5 years back), mining was profitable. But now-a-days, mining is too competitive or trap. I have been mining cryptos from 2013.
Anyway, if Steem spikes close to ATH and LEO doubles or triples, you will make handsome profit in fiat.
In last month, I also went from 4K to 14K LEO. Great to see enthusiasm from fellow LEOian.
Sorry for the late reply. Been busy of late and just forgot about this comment.
You are most likely correct. I realize that what you say is true. I am however searching for more passive income. I am not lazy, but I have spent the last almost 30 years working twice as many hours as most humans. Getting tired of the slog. I am curating some, but I don't really have the time to do it or do it well.
I bought all the miners and then I have been selling a majority of my LEO earned from mining and buying more miners. This is definitely a risky strategy and requires time and LEO price increase to really pay out, but as you said it will pay handsomely if things go up.
Thank you for prodding me to think about the investment sense. I definitely will. I have been investing money to buy time and maybe it makes sense to keep doing what I always have which is to invest time to buy money. Just old and tired of doing that, but I may just have to suck it up and do it.
It would also probably be easier/cheaper to get the stake on the front end than down the road.
Gonna have to think on this one for a while and decide what really is best for me and my style.
Thanks once again for the prodding.