In crypto we are all striving for some sort of target and then once that is achieved we strive for the next. The hope we all have is one day this will become a meaningful amount that could possible change our financial situations for the better. I am under no illusion this sounds easier than it is in real life and is actually quite difficult.
This is why low balling your expectations should put you into a position of comfort as you will always be striving for the next goal and there is no time or thought of letting up. The aim or goal I have in mind is simply providing a sustainable passive income because that is where I see the real wealth in crypto and not necessarily the dollar value of the stake.
The world is changing rather rapidly from what we all knew with regard to employment due to AI and this is going to impact a huge portion of the population. We have all heard the term of universal basic income which is an income that covers the basics which is designed to reduce poverty. Sounds rather terrible really and not something I would like to never rely on or even be part of.
Having various income streams in my thought process is a must have and why having a crypto portfolio providing an income is imperative for the future. A passive crypto income is not part of the mainstream thinking and why we have time to build a solid foundation and get ahead. We all know it is only a matter of time before crypto starts playing a bigger role in life. The signs are there even in South Africa who now see crypto no different than that of money and this has all changed in the last 5 years.
My COTI investment which I have been working on for over 4 years is growing continuously due to the rewards being restaked helping the compounding process take effect. This week was the first time in a very long time I have seen the daily rewards increase not by much I might add, but an increase of 1 token daily from 92 to 93.The plan is on the week of the 25th of this month I will be in a position to increase the GCOTI staked which acts as a booster for the COTI rewards currently offering 21.19% when staked one on one being GCOTI and COTI plus the basic APR of 5.29% so a max of 26.48%.
The daily rewards will increase from 93 daily to 203 and is a game changer for growth. The initial goal is to earn 240 COTI daily or simplified as 10 COTI per hour. In order to unlock these rewards I would need to have another 50K COTI staked over and above the current stake of 278K along with the equivalent GCOTI. This is very achievable and is not some distant target and expect to see this number within the next 6 months.
The low balling is the token value and even though the last ATH was $0.66c I would be happy with $0.20c being the base number. This would guarantee a passive income of close to $1500 monthly. Even though I do expect higher prices with a dollar sign in front the $0.20c is the number I can live with. Giving the stake another 5 years to grow because time is what is required once you have created a foundation then the numbers start increasing rapidly and would not even guess what the numbers could become organically as they do not seem real. 5 more years would see the stake grow to between 800K and 1 million COTI tokens which is definitely something to look forward to and why I am not thinking of that for now. First things first and that is to unlock 240 COTI rewards daily.
Posted Using INLEO
Alts need to do anything at some point I hope. I'm starting to get a bit worried.
They will so we just need patience and in the mean time just keep growing and accumulating. This has been a long haul that we never expected and now need to make this time count.
Your consistency plan is great. Alas! not many people think like that (including me🤒). This could be the reason still not to reach our targets - Financial stability.
What is the unstaking period for COTI and GCOTI
I have staked for 360 days as the cost of breaking the staking contract time starts at 2% and decreases each day staked. You can stake for 30 days or 80 days, but the APR is less so it is better to use 360 days level 1 no risk. All other levels can be liquidated. The 2% is nothing and will break it when the price to sell is right. GCOTI I have no plans of selling as there is only 2 billion GCOTI and you need it to boost the APR and is far more valuable for what it offers than the price. The privacy tech makes this a no brainer being an L2 on Ethereum.
👍Thanks for the explanation and guidance.
Lowering expectations really helps to keep the focus on the long term goal. Building passive income through staking feels much more sustainable than just watching the price action every day.