7 days ago I mentioned I need to grow by around 1500 COTI per week to achieve a 200K target. This week I grew by 1602 COTI made up from roughly 300 eared via rewards and another 1300 through purchases. This is not that difficult whilst the prices is moving sideways and hoping it stays like this for a few months at least.
This will not always be the case and why it is important to do as much as possible now and to remain consistent for as long as possible. Targets do not change and the only change is the time they may take to achieve through external influences out of your control. The good news is you are adding dollar value constantly even though growth may seem slow at some points.
The 1600 growth this week would be the equivalent of $1056 at the all time high and not the $192 value we see today. The hope is that the overall number increases fast enough that the APR rises each week reducing the dollar investment number that is required.
This is the reason why I am growing the stake that has the highest APR on offer being 24.25% and this weeks growth allows me to earn an extra 1 COTI daily. This doesn't seem like much, but over a 10 week period that would work out to 10 extra COTI per day or 70 extra COTI per week. This is the only way I can think right now trying to break down the target.
The compounding and rewards benefit by keeping the Trust score high which mine is at 13.21 shown at the top of the screen shot. This is how the weekly GCOTI airdrop you receive is calculated along with time in the Treasury. Keeping the APR as high as possible is a must for overall growth and this week expect to see that rise by another 0.08% which again does not look like much, but it does add up quickly. These are the small growth increments you can control and why staying active growing constantly and not sitting back relying just on rewards is vital to the overall outcome.
The week ahead I am planning to try and double last weeks growth and to try ad surpass the 130K Staking mark. There will be weeks ahead where I am just relying on the rewards alone due to travelling overseas. The thought process is also around not thinking and relying on the APR staying this high forever and the saying that "making hay whilst the sun shines" is also very true.
The overall dollar value when we see the next all time highs some time next year is the real driving force behind all of this and I need to make this crypto cycle pay for all the effort and time this has taken. This will be the first time I am actually looking at the overall dollar value vs time taken and the expectations are very high. A $200K value after the 4 year cycle is up would be disappointing yet this is still $50K per year which is considered a decent living wage in the real world.
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Impressive numbers and COTI is a strong investment. Glad I jumped the train in time and even bought a good stash now when the price was quite low.
Yes the good thing is this is a great investment with so much potential still to raise the value. Yes you did very well and it was a smart move.