Five Additional Things to Consider When Purchasing LBI (Token Goes on Sale December 7)
I am a @spinvest investor and an @lbi-token enthusiast.
I am also well aware that projects are only as good as their transparency. LBI and Spinvest are both transparent, but I myself, have written a few articles in favor of both, without acknowledging their deficits.
In the spirit of transparency, Here are the Five Reasons You should NOT buy LBI TOkens
1) Not your keys, not your crypto.
When you buy LBI you will be buying a token that is bought and sold on the HIVE-Engine. The tokens will be backed by Leo and other investments, but, you will not be HODLing the LEO itself or the other investments yourself.
Just like money on exchanges, someone else is in charge of it.
2) The project is centralized
LBI will be investing in decentralized projects, but LBI itself is not decentralized. In fact LEOfinance is not decentralized.
Whoever ends up holding the keys to the project will be the center.
We may work as a team to become as decentralized as possible, and we may get there one day. But we are not there yet.
3) Herd Mentality
It does not matter how many tokens you purchase, or how little tokens you purchase. You are part of a group.
If you have a genius idea that will make everyone rich, you still have to get the group to agree on it.
A person is smart, people are not.
The @spinvest group has shown to make great decisions as a whole, but there were only a handful of people inputting suggestions. Now there will be more people "hands on" from the very beginning.
There is no guarantee that ALL voices will be able to be listened to.
4) It is not truly passive income
I write one article for spinvest once per week. I have also written a few articles for @spinvest-leo.
The group has other writers, researches, video makers, project engineers, and advisors.
It is not a set it and forget it type of project. If the investors (aka anyone who buys the token) don't put some effort in then the project will take a LONG TIME to start making some income.
Buy the tokens, and know that you will need to do something (even if it is just reading the status reports, and upvoting them, but preferably more) to keep the project moving.
5) The team cannot guarantee wins
Remember when wLEO was hacked?
I do.
Remember last time bitcoin went from 20,000USD to less than $5000USD?
I do
Remember when STEEM had a Civil War, and we all moved to HIVE?
I do
@spinvest was able to thrive through all the turbulence, but there is no guarantee that LBI will.
I want LBI to go the same course as @spinvest did. The latest report shows that it has grown x 4.5 times. That doesn't include all the times the token recalibrated. I will be elated if it does better.
But that does not guarantee that LBI will win.
Conclusion
I will be purchasing tokens on December 7th.
I will be keeping my @spinvest tokens and working towards growing the amount of tokens I hold
I will continue to buy @eddie-earner tokens.
But I am making those purchases with eyes wide open. Just because I trust the process and think it is great, does not mean you should too.
Do your own research.
Will you be buying LBI on December 7?
Posted Using LeoFinance Beta
