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Post by bnothling on May 27, 2022 8:43:11 GMT 8
I have a few small investments here and there in various different coins and they've done reasonably well up until the recent market crash. It was always going to be a case of investing money that I didn't really rely on and if it comes good in a few years time and I profit off it, so be it. If it tanks and I need the coin, I'll take the hit and withdraw.
Without pushing anything, because I'm not about that, I got into a 'project' called StepN. Basically you pay money for a virtual shoe that you can level and upgrade to have better durability and efficiency. That shoe has an 'energy' level every 24 hours. Every night after the twins go to bed, I go for a 1km walk around my housing estate which takes about 10 minutes and that burns my shoe's energy at the rate of 0.2 energy per minute or so. With that 10 minute walk, I earn about 10-11 GST tokens which are worth about $3-4 AUD each. At the end of every month, I withdraw it and get on with my life. The tokens fluctuate in value, but regardless of that fluctuation, I'm still getting paid a nominal amount a night to take 10 minutes out under the stars and listen to a podcast. The catch is that I paid about $1800 for the virtual shoes, but the ROI is about 2 months which is something that I'm happy to live with.
It goes on and on to the point where multiple shoes in your collection allow for more than 2.0 Energy every day so you can spend big and earn big, but I'm just keeping it as cheap as possible and using it as a good excuse to get off my arse whilst I recover from COVID and can't train properly.
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Post by kenkong on May 27, 2022 16:23:36 GMT 8
I have a few small investments here and there in various different coins and they've done reasonably well up until the recent market crash. It was always going to be a case of investing money that I didn't really rely on and if it comes good in a few years time and I profit off it, so be it. If it tanks and I need the coin, I'll take the hit and withdraw. Without pushing anything, because I'm not about that, I got into a 'project' called StepN. Basically you pay money for a virtual shoe that you can level and upgrade to have better durability and efficiency. That shoe has an 'energy' level every 24 hours. Every night after the twins go to bed, I go for a 1km walk around my housing estate which takes about 10 minutes and that burns my shoe's energy at the rate of 0.2 energy per minute or so. With that 10 minute walk, I earn about 10-11 GST tokens which are worth about $3-4 AUD each. At the end of every month, I withdraw it and get on with my life. The tokens fluctuate in value, but regardless of that fluctuation, I'm still getting paid a nominal amount a night to take 10 minutes out under the stars and listen to a podcast. The catch is that I paid about $1800 for the virtual shoes, but the ROI is about 2 months which is something that I'm happy to live with. It goes on and on to the point where multiple shoes in your collection allow for more than 2.0 Energy every day so you can spend big and earn big, but I'm just keeping it as cheap as possible and using it as a good excuse to get off my arse whilst I recover from COVID and can't train properly. Sounds like a ponzi scheme. Where do they get revenue from other than new sign ups?
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Post by bnothling on May 27, 2022 16:49:23 GMT 8
I have a few small investments here and there in various different coins and they've done reasonably well up until the recent market crash. It was always going to be a case of investing money that I didn't really rely on and if it comes good in a few years time and I profit off it, so be it. If it tanks and I need the coin, I'll take the hit and withdraw. Without pushing anything, because I'm not about that, I got into a 'project' called StepN. Basically you pay money for a virtual shoe that you can level and upgrade to have better durability and efficiency. That shoe has an 'energy' level every 24 hours. Every night after the twins go to bed, I go for a 1km walk around my housing estate which takes about 10 minutes and that burns my shoe's energy at the rate of 0.2 energy per minute or so. With that 10 minute walk, I earn about 10-11 GST tokens which are worth about $3-4 AUD each. At the end of every month, I withdraw it and get on with my life. The tokens fluctuate in value, but regardless of that fluctuation, I'm still getting paid a nominal amount a night to take 10 minutes out under the stars and listen to a podcast. The catch is that I paid about $1800 for the virtual shoes, but the ROI is about 2 months which is something that I'm happy to live with. It goes on and on to the point where multiple shoes in your collection allow for more than 2.0 Energy every day so you can spend big and earn big, but I'm just keeping it as cheap as possible and using it as a good excuse to get off my arse whilst I recover from COVID and can't train properly. Sounds like a ponzi scheme. Where do they get revenue from other than new sign ups? Agree. It depends how much you read into the whitepaper and how sceptical you are. I'm cautiously optimistic, but it wouldn't be the first time something gets rugged. I know that when you earn the token with walking, the incentive is to burn them by spending them within the app to improve your shoes and theoretically earn more money. Whenever things move around behind the scenes, they are taking a small commission so I guess they're earning money that way. The app is still in Beta though so they're still working it all out. At this stage to get involved you need an invitation code which is generated for each user after a certain time period. Is there a long term future in it? Who knows. My primary goal is to break even take out my initial investment. After that, I'll play with 'house money' and see where it goes. Even if it tanks in the future and I'm only earning $10 instead of $40 for that 10 minute walk, I'll take it. I do know that reading the Reddit associated, there's a lot of people who have broken a sedentary lifestyle and are now walking or running for anywhere from 10-60 minutes a day so that's a good thing at the bare minimum?
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