Posts

Leo hits $AU.50c and continues it's bull run, bitcoin drops but alts rise

avatar of @melbourneswest
25
@melbourneswest
·
·
0 views
·
3 min read

Impressive is one way of putting it but I am totally blown away at the inception and acceptance of Leo coin. Personally for me I wish I had purchased more. I did a buy up a few weeks back when Leo was trading 2:1 on Hive engine. I've since bought a few more but my account is lacking. But it doesn't mean I've locked out, the benefit is I can still earn by producing content and curating good posts. I think that is a main driver of why I joined Hibe almost 3 years ago.

I wanted to get into mining, Bitcoin was climbing and it was the thing to do. Unfortunately living in Australia we pay a pretty high price on electricity costs and the hardware required to mine and compete with other miners is in the thousands.

A basic rig energy consumption costs will land you an $AU800 a month power bill and returns aren't that great. I spoke to a fellow Aussie who took the plunge and in order to make it profitable he needed to take out an ABN so he could ensure his energy costs were tax deductible. But even then he only gets a 3rd of the cost back on the tax he has to pay.

Unless the tech advances to be less onerous on electricity then it won't be worth doing. He nets about $A1000 a month in profits. Sounds like alot but that would take 2.5 years of saving that cash flow to even have a house deposit in Australia for an average home. (900k house prices) but it is a nice side hussle if you have a full time job. Not including software and hardware failure.

This is where Leo and hive are different, they provide the opportunity to mint coins by producing content and then having the community decide what's good and what's not. A form of "social mining" where the people make the decision who gets the coin based on the work they produce. That's what attracted me to Hive.

I'm a pretty active bloke and I love sharing what I do and where I go with others. This platform allows me to do that and I do so because I enjoy it. Dont get me wrong I absolutely love seeing $$ value on my acct, but the biggest growth has been from personal investment. I've also started delegating out to communities. I could have kept all my Hive and been at a 6c upvote and made a lot from curation, but I want more people on the platform. I also know people won't stick around unless they do get upvotes. So delegating it is.

the Beast that drives the market

We can see the mother of all cryptos continues to deliver at a whopping $AU42,000. We all wish we were taking those growths and becoming millionaires. Well, it's not over because you can.

As you can see Bitcoin has taken just over a 2% drop. But that cash isn't being withdrawn as money into someone's pocket. Those net gains experienced by Bitcoin are being reinvested into other Cryptos. Noting that Etherum this week continues to climb. As do many Alt coins, including Leo.

Now I mentioned that the price of Leo will likely hit $2 within a few months, I am now retracting that statement and it is only a matter of weeks.

If you're looking to increase your net gain in the Crypto market, then Leo is your coin with a large continued growth and knocking out daily all time highs.

Get in before it is too late!

Posted Using LeoFinance Beta