Steem Leo - Investing Community

in steemleo •  last year 

Is Steem's latest investing community going to roar or meow?

Recently, Steem announced tribes/communities. This means they have been popping up like wildfire. Most are just there, but some (ie. pal.net) are popular. Steem Leo is one that focused on investing. It looks like it was well thought out and they seem to have been planning it for a while.

But there is nothing about what gives it authority as an investing community, no rules for investment discussion, few details, etc

This is worrying because most of the investing discussion on Steem is amateurish, sketchy, crackpot theories, or outright scams (but the burden of proof ain't on the seller).

With the tokens being sold is Steem Leo just an investment mascarading investment community?

I ask because we should have balanced unbiased discussions here.

My biggest fear is calls for more Steem tags than the standard 5 so people can get all these new tokens at ones. Tag abuse and meaningless spam ain't cool.

What is Steem Leo

Steem Leo is a Steem Tribe/community for investment talk. They have their very own website here: https://www.steemleo.com/

I'm sure you will recognize it because it is build using the standard Steem Community Website. I think that's the best way to start. Focus on content first. It seems they also launched a dTube and Discord, too. You can read the details in @steem.leo's post.


Is this a healthy order book? Leo's was born less than 24 hours when this was taken.

LEO Token

Steem.Leo launched the LEO token just over 24 hours ago on Steem-engine.com.
They were also airdropped based on how much PAL people have staked. PAL whales are really lucky. The price is currently somewhere between 0.09 Steem and 0.13 Steem a token.
The Leo sell wall is 2 Steem which is ambitious. You will be able to earn it the same way you earn Steem and Pal, by upvotes and curation.

LEO Distribution

Around 1.7 Million LEO was distributed to Pal.Net Stakers. 2 million was sent to the team. 1 million was sent to mods, the sell wall is 2 million, bounties will be 3 million. This is 9.7 million Leo's in circulation already.

At a value of 0.1 Steem each, that is almost 1 million dollars created overnight. 4 million Steem for Leo's team if they sell the wall.

Abracadabra...POOF!

Inflation

There will be inflation of 2 million LEO a year initially dropping by 1% a year until it is at 4% (96 years!?) then it will stay there.

85% goes to LEO Stakers, 15% goes to LEO Miners.

Mining LEOM and LEOMM

There is also something called LEOM which is 2 Steem a piece. Apparently, it's good for mining and limited to 250,000. And there is something called LEOMM which is 6 Steem a piece apparently it is better at mining 4X as fast as LEOM at only 3X the price. Also, there is only 70,000 (if they mine equal amounts it's slightly better than 4x). Thats another million Steem being sold.

We are at 5 million potential Steem. It will make Steem.LEO rich if they sell it all.

Investing Tribe Possible?

I'm skeptical because Steem.Leo has no known or stated connection with any investing community. Most investing talk on Steem is cryptocurrencies with a lot of that being Steem (a rank 70 something crypto), or worse crap I've never heard of (I'm talking sub 200 rank stuff). 10% is perhaps other investing stuff.

Without an informed investing community, it's going to be tough. The logo and name Steem.Leo uses have nothing to do with investing either.

They built it, they are selling it. But there is no information. It looks like a get rich scheme and not the way to start an investment community.

I suspect this is just an attempt to do "an if you build it they will come", but maybe something is planned. In any case there is a ton of room for improvement and development.

Investing Talk on Steem

Asides from shilling Steem, Steem Tokens, Bitcoin or dodgy alt coins, Steem is also used to promote airdrops which is just dodgy as hell. I can't imagine anyone with real world investing credibility who looks at the trending investing page will be impressed.

I think Stee.Leo has their work cut out for them. Who is going to want to join if it's just people talking about how awesome Steem Tokens and Steem Leo is or shilling airdrops? Well at least this might round 'em all up and put 'em somewhere.

Financial Advice

Investopedia defines a Financial Advisor as:

A financial adviser (or advisor) is a professional who provides financial guidance to clients based on their needs and goals. Typically, they provide clients with financial products, services, planning or advice related to investing, retirement, insurance, mortgages, college savings, estate planning, taxes and more.

When people say an opinion is not financial advice and do your reseach...that means theybare aware that the information they are telling you is unregulated.

Financial advice is kinda vague. It's talking about how to make money or save money or use money. If we are honest we can clearly see there isn't much serious and well informed investment talk on Steem.

Let's hope this changes!


Get em while they're hot. FYI I cancelled all but the 0.1 order.

My Thoughts

As these communities gain popularity, people are already asking for more tags. I think we are going to see a lot of low quality meaningless mining posts and tag abuse at first. I'll be watching communities based on the content they reward. Maybe keeping the tags limited at first until etiquitte catches is best.

I don't want to come down too hard on any community in particular, but it is hard not to see the introduction of some of these communities as sketchy. At the end of the day the are all selling tokens and 'investors' are their customers. Therefore they have various obligations. They are actually makimg and selling investments.

Actually, I really hope that Steem Leo is successful, tag abuse stops, and the investing scene on Steem become less of a scammer's haven. I wamt to see Steem.Leo as somewhere people can go to get non-biased information and opinions.

I hope to see a platform where people can discuss an investment openly. I don't want to see downvotes because someone is skeptical of a guaranteed 3X 1 year your money scheme. I want to see a balanced approach where people can discuss the downsides or risks without being called FUD. FOMO is just as bad.

I want to see fewer people saying things like don't trust banks or investment firms or stock markets. Buy silver and Gold. Can't trust the financial system. Geez, I guess that is good advice if you live your life by tinfoil hat conspiracy and desire poverty. Maybe 10% precious metals, 10% cryptocurrency, 80% traditional investments is cool, but some people are 40% crypto 40% precious metals and 20% collectables. It's the financial portfolio equivalent of alchemy.

I hope to see people who use #investing as being transparent if they are passing referral links or selling something. I hope they are somewhat accountable. I'm skeptical.

Most of all I don't want people to think are immune from criticism because they say something like:

I am not a financial advisor and this isn't financial advice. Do your own research.

Good luck if you think that means you aren't accountable for what you say or do.

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Just Like Pal.net I'm going to wait and see before investing. Sadly, I sold my Pal airdrop so I didn't get Leo. I'll get it the old fashioned way by begging for upvotes and dancing like a clown for the whales.

So what do you think? Will this bring more accountability to the investing community on Steem? Will it diversify investing talk on Steem? Will we see an end to crappy TA and FA? Will we get sketchy libertarians warning us about the FED and banksters and just telling us to invest in piles of silver and gold and hide our money under our pillows? Is Steem Leo just an opportunistic cash grab? Are they going to offer any real use case for their token or is it a pyramid scheme for 'upvotes' and shillers?

Do we really need more tags so people can mine tokens?

As always, I remain skeptical, but since I'm invested in Steem and actually like investing and financial stuff, I really hope we get a vibrant, informed, and exciting community.

Good job @steem.leo and @khaleelkazi! Let's see this work. Sorry for not being spell bound by the hype.


The lion image is from the Steem.LEO blog I linked, super cool

I won't tag this as investing because I think suggesting someone to buy LEO is inappropriate until more information becomes avaliable. Let's hope I am wrong. In anycase I'll be happy watching mostly from the sidelines.

Disclaimer, I will likely (indirectly) earn LEO from this, PAL and Steem, too.

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Skeptical is, in fact, in your name! I love seeing both sides to an argument and I love criticism as it points out the flaws that can be patched up and improved.

“Actually, I really hope that Steem Leo is successful, tag abuse stops, and the investing scene on Steem become less of a scammer's haven. I wamt to see Steem.Leo as somewhere people can go to get non-biased information and opinions.”

Our ambition is to create such a community. A community about investing, not about Steem.

Sure Steem is the backbone. Sure people are going to obviously dominate the platform with “Steem talk” in the beginning. Our ambition, however, stems far beyond Steem and even crypto. We want to be THE platform for investors. With that in mind, the token distribution/high inflation rate may make more sense as we try to distribute far and wide.

Our plan is to get real investing content creators from outside of Steem. We’ll entice them with rewards, bounties, etc. That’s also why you’ll see us power up the vast majority of STEEM we can get our hands on - as a tool for building this community.

I appreciate your skepticism and hope you keep it coming. We will look to these types of posts as a method for improvement.

A note about tag abuse — we have created a channel in the discord for identifying tag abuse on Steemleo and have setup an account specifically for flagging such kinds of abuse in the community. We’ll be fighting the battle, but we hope to clean up the tag situation now and in the future.

Thank you for your input, I look forward to building a massive investment community here on Steem. 🧡

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There is obviously going to e some confusion at the beginning. Investment opinions are diverse, but the end goal is more $$ without cheating. A lot of research and tools already exists fortunately.

It will be very good for Steem when this happens.

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I hope we can build a 2-sided community that doesn't just devolve into circle jerking "Steem is great" articles too. I've been looking for a place to exchange investment ideas for a while (ever since they put most of Seeking Alpha behind a paywall actually). Let's hope SteemLeo can do it!

It would be awesome if they could get a rep system based on quality of posts and comments and not on how much Leo is held or shitposts are made.

Airdropping these tokens to non-professionals who happened to stake pal in hopes of establishing an investment discussion community is an amateur mistake. Steemleo created whales who have authority due to their token holdings, however, their investment knowledge is probably low to nil which is average for the general population. I can see this method of distributing stakes as being problematic in the future.

Most people posting with the #investing #money #finance and now #steemleo tag are not investment professionals. If they are, they need to be following rules or they risk much more than just a downvote, they could lose their licensing.

Investment professionals need to be very careful about what they blog, tweet, or post on Facebook, because it could be interpreted as investment advice, which in turn could raise issues of suitability, diligence, and prudence. In addition, investment professionals must be careful not to make statements that could be perceived as false or misleading.

source

If someone isn't an investment professional, you should be wary of their investment advice. @steem.leo needs to take ethics seriously or they are just another pump and dump scheme hiding behind a thin veil of 'fostering a community.'

I have a feeling this is going to be an utter failure. Tokens should have been given to people who can prove they are investment professionals or who have a track record with investing, not people who just steemed, staked pal and use steemleo as one of their many tags.

There is a large amount of Leo avaliable for bounties. Maybe they will award them to people who give sound financial advice and balanced investing information.

I think having a unique reputation system could be valuable. I'm not just thinking of who gets the luckiest by saying a specific cryptocoin will moon or winning the stock picking lotto...I'm thinking based on sound consistant advice.

Eventually the community may award good people, but for now it will remain a community of people skeptical with the current global economy. People who confusing investing with socialscience. People who shill sell and market instead of invest.

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Steemleo is not a platform for investment professionals. It is not a platform for people to say "Buy Token X or Stock Y!"

As said in our original introduction, Steemleo is a platform to discuss all things investing. That means (but is not limited to) philosophy, investing strategies, fundamental analysis, technical analysis, ethics, etc.

This very conversation, in fact, belongs on Steemleo. The discussion (and debate) of whether people who aren't investment professionals should be able to talk about investing on a platform.

As I said in my other comment here on this post, I am more than open to criticism and actually welcome it. I know that criticism is just an opportunity to grow, evolve and learn.

Also said in our introduction, airdropping to PAL stakeholders was our way of distributing stake to a wide audience of people who are active and engaged on Steem. The key to a successful platform is having actual people that use it.

While you may not view PAL stakeholders as investors or people who are qualified to talk about investing, they do in fact fit the category of people who have some level of investing knowledge. The fact that they are invested in crypto and on the steem blockchain and also have the foresight to hodl their PAL stake is some sort of testament to their "investing capacity".

With all that said, there is a major issue here on Steemleo and that is tag abuse. The content on Steemleo is not intended to be created by financial professionals. In fact, I don't even like most financial professionals based on a lot of personal experience.

Steemleo is a community for people to talk about investing, regardless of their "professional" capacity for such a discussion. I hope that people will catch on to this vision as time goes on and see what we are trying to build here. We are starting with the Steem community and we will be onboarding people far and wide beyond Steem to grow Steemleo into a hub for all sorts of discussions around investors.

Afterall, a driving point of crypto is to put the knowledge, power and investing capacities back into the hands of real users rather than keeping it centralized by the so called "investment industry", right?

I appreciate the feedback and we'll continue to use it as leverage to improve. Hopefully I cleared up a little confusion with this and we'll be releasing a lot more clear protocols going forward. We've also created an initiative with the account "noleoforu" and an accompanying discord channel which will alert us to tag abuse and allow us to flag all their LEO rewards (not any other token rewards though).

“I'll get it the old fashioned way by begging for upvotes and dancing like a clown for the whales.”

Hahaha that is gold right there.

I have high hopes and have like @khaleelkazi quite a while. I hope I can delegate staked Leo to my favourite technical analysts.

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I hope to find these good TA people. I've used other platforms for investing, especially non-cryptocurrency stuff.
More of a fan of FA than TA, but a little TA makes FA shine.

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I really think for an investment discussion platform, there will need to be stricter or tighter rules on the type of posts that are accepted because this is people's money everyone will be talking about. Not a cat doing something stupid. You can't just post any old nonsense and then use the "disclaimer DYOR, not financial advice". Why post it then?

I won't be posting any stuff about crypto and investments so probably won't use the platform but I hope they do things right and have some "quality review" procedures in place. That's my 2 cents (literally).

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I think even if people don't post, since it is on Steem, they will come across it. I guess if it is tagged SteemLeo, we know its about investment which is good.
But yeah if you post a picture of a cat and I say its ugly I'm being mean. Saying this about an investment is perfectly acceptable as long as its my opinion amd I'm not spreading disinformation.

For every buyer there is a seller, only the future says who is smarter.

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Then I must be pretty dumb as I got in from December 2017 to March 2018 🤣 still, at least I stuck around and did at least some research on projects. Now it's just the waiting game lol. Where are my cat videos at? Maybe I should stick to them 😂

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Even through it is not in our cluture in Africe is not investing, we really have to pay attention to all ideas and also teach our selves some thing new. That is the reason why steemleo has come. We mst pay more and more attention to what people are writing on steemleo. The biggist investment we have is really time. I we use it well we shl be there thanks

SteemLeo has the aim to provide a useful and well needed service. Time will tell how useful. I see early positive signs and want to do what I can to slowly improve quality.

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I liked your clown dance, he he.

But on a serious note; great post.

I don't think I used the word 'Sir' or 'Thank you' enough.

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No need for that.

Thanks for bringing up those thoughts and observations of yours. Various sources of info are always good to have. But it's true a lot of us start feeling as investors here and we're just hyped. Amateurish is true. I haven't studied finances for even a day. I just read some articles and I find them interesting. Funny, but to me they are.

Nothing wrong with amateurs. We just need lines and especially with investing 2 sided debate.
I can reasonably like every puppy picture I see. I cannit reasonably like every investment I see.

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Howdy sir abitcoinskeptic! lol.."dancing like a clown for the whales" oh man, that's a great line. I agree, we have to hope it succeeds and conducts itself professionally and wait and see. I wonder what this place will look like in a year from now, things are happening fast! This is a great review post, well done sir.

Thanks.
Access to quality information and opinions is the best way to get in on a good investment.
There are an awful lot of whales who didn't make their money from being good at investing. They made it from being lucky at investing.

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Good points sir abitcoinskeptic!

I think steemleo is looking for posts exactly like yours! Well, maybe mixed in with a few more positively leaning articles! I think the goal is to create niche communities, and thereby have a better way to market to outsiders (for ads and such!) that there is a target group, based on some affinity within the Steemit platform.

As for the s___ posts. You know some folks gotta' try! I think weed cash network has been very successful in "kabashing" tag abuse from early on! I think steemleo will do the same!

Thanks!

I like reading the positive articles about bitcoin from early 2018 to remind me that happy thoughts don't make markets, they make suckers.
Scammers gonna scam and beggers gonna beg. It seems like theybare already startingbto warn people which is a good sign. Those who don't want standards to rise beed to be clear about why.

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I've asked myself a lot of the same questions. I guess all we can do is wait and see how this will turn out. It will definitely not the last community/clone that will pop up...

Some of the first are trying to be market movers. Unless something much better organized and funded comes along, it's a winning strategy. However, due to the highly regulated nature of finance reputation is important.

Are you liable if you upvote and therefore support investing advice of poor quality?

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Good question...

... Sadly, I sold my Pal airdrop so I didn't get Leo.

I stoped reading after I saw this.
This explains everything.

No more comments.

Personally I think your comment is a lot more telling of any insight or opinions you give on investing and Steem Leo.

Can you please explain? Are you telling me that only people who get free stuff have a right to review and evaluate? Or are you saying that people who sold Pal have no right to discuss Leo?

When discussing investments disclosing information is essential for transparency.

I sold my Pal for a reason completely unrelated to Steem Leo. If Pal wasn't meant to be sold why do they allow people to sell it?

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