I was just minding my own business and...
BAM!
SteemEngine tells me my account is worth a thousand more dollars than it should be... lol. What is this SteemLeo nonsense?
Apparently it's a community for talking about the investor/speculation side of things. Which, to be fair, is quite a big part of this space.
I immediately considered dumping all my coins knowing that a flash crash is surely imminent and I could buy them back later on the cheap... however, it's already pretty flash-crashed so I decided to power up my 22k coins instead.
It's interesting that this happened today, because I actually have a few things to talk about investment wise. I completed KYC on Bittrex and I am now using 4 different exchanges. I used KuCoin and Bittrex to buy a few coins that Binance didn't have. But that's a different topic for a different post.
@Airdrop
So apparently there are only 3.8 million coins in circulation, meaning I control half a percent of all coins. However, 2 million of those coins are locked in a sell wall set at 2:1 STEEM:LEO. Therefore, if the LEO community creates enough value to reach the sell wall my airdrop would be worth 44k Steem... lol. Sounds too good to be true. Maybe it is. Maybe not. Don't care. It will be interesting either way.
This whole situation reminds me of my recent post five-tags-for-five-different-frontends. Yet another tag I have to add to my posts to get rewarded with this coin... of course I talk about the investment side of crypto a lot less than I do the political side or various other random topics. It will be up to the LEO community to flag off topic posts that are leeching the reward pool. I'll try to avoid doing that myself.
Shitcoins vs Community
A lot of people make the claim that these are Shitcoins because there are better coins out there with more functionality and a higher degree of decentralization. This is false. A coin doesn't have to have superior functionality to be adopted by a community. A community simply has to embrace the coin to give it value. This is why I will eventually get around to buying DogeCoin and (more importantly) MonaCoin.
To call a token a shitcoin is equivalent to calling the underlying community that uses the token: shit. Does the DogeCoin community have nothing to offer the world? What about Japan (Monacoin)? Do they suddenly have nothing to offer because they broke off and created their own project on the side? These are ridiculous notions, and they get stuck in our heads because the world is approaching a radical paradigm shift that we do not yet understand.
Conclusion
If anything, this situation makes me wish I had more money to buy Steem.
The outside world is completely blind to what's going on here.