Some of my posts lately have already been describing my financial plans for the year, but now there's a post contest afoot. If you are unfamiliar, you can read the post by @theycallmedan which describes what is expected. What follows is my entry for this contest. Read at your own risk.
It's worth mentioning that I'm only really going to go into my plans for the crypto space, and mostly focused on Hive and Hive-related projects. There are pretty standard investments I have outside of this that I don't really feel like discussing, mostly because they're boring. No one wants to hear about 401ks. There's a rental property I own, but most of the money earned from that just goes back into owning a rental property. None of that is what I want to really discuss here. Sorry.
Which is going to be your investment strategy for 2021?
Part 1: Play games and collect magical pennies
One strategy I have is to essentially play a fun game and collect magical pennies. That's what it probably sounds like I'm doing if I explain it to anyone in my life who isn't on Hive, which is literally almost 100% of the people in my real life. My friend @ronpurteetv has an account, but only really because I made it for him and kinda push him along to post sometimes. Deep down, I know he doesn't really care about it and thinks it's silly.
Why wouldn't he? For years, I've been saying "it'll be worth a lot more someday" and things like that. In fact, it's really only gone down in value throughout the years.
But that's part of my plan: play Splinterlands and sell the DEC to get Hive and power that up. With the current bargain-basement price of Hive, I am able to power up at least 5 or so HP a day this way. As I've mentioned in other posts, that equates to something like $.50 in USD. That's why it seems crazy to outsiders. Maybe they're right, but I don't believe so.
Just the other day, I wrote a post about it. It was called:
"I will look back at the amount of HP I can earn by playing Splinterlands now with amazement later."
It did pretty well. As you can see, it's earned over 2 LEO so far, which isn't bad. It's not crazy awesome, but I am still happy with it. It's certainly better than the 0 LEO I would be guaranteed for NOT writing a post.
If I had known about this topic coming up as part of a contest, I would have probably waited to post that the other day, though. If you're interested in even more about my ideas for how to increase my stakes, that post goes into some detail I won't repeat here.
Part 2: Side hustle, yo!
Using stakes to get more stakes is a lovely way to increase your investments, but sometimes you need to invest some real money if you want to see any results. Because I'm part of a partnership with my wife when it comes to financial things, I can't just take the money we have together and invest it however I see fit. She views the crypto space with understandably cautious eyes. That said, I can bring in money on top of what I earn at my main job, and some of that can be used for essentially whatever-the-hell I want it to be used for.
There's already a second job that I do on a sort of as-needed basis. While I haven't been really working any hours at it lately because I've been busy with my main job as well as just life in general, but I can plan to hopefully pick it back up sometime soon. With some of that money, I'll buy cheap Hive.
Part 3: ENGAGE!
I'm trying to make more posts and more comments. That's part of my plan to just help in general, but also to increase my investment opportunities. I've made some posts that do fairly well in the past. Quite frankly, I'm hoping this one will as well, because I've written and re-written a lots of things for it and put a lot of work into it this morning.
I make no secret out of the fact that I have several accounts that I post with, usually because each one has a different topic to talk about. I think some degree of this is acceptable. Sure, I have a shitload of accounts, but most of them don't get used. When I'm drinking or having a good time, I tend to think it's fun to just create accounts with funny names because I can. Sorry!
I have the account @sharktheloin just because I almost sent a bunch of Hive to it once and I wanted to protect my ass. ha.
I'll continue with my plan of leasing HP to @leo.voter, as I've mentioned in this post here
In that post, I stated that I was delegating 9500 HP to @leo.voter. I upped it to 11,000. The amounts of LEO I receive each day have been going down just slightly lately, but the price of LEO has been going up more than the price of HIVE, so it makes sense. It was just over 2 LEO per day that I was receiving, but it's gone down to just less than 2 LEO. It fluctuates.
Do you have any specific assets that you want to invest in?
I am staking as much as possible of:
- Hive
- Leo
- Weed
- SPT
There are several more, but Hive, Leo, and Weed are the biggest ones. Those are the ones I will buy with cash when it's possible.
I'm willing to stake as much SPT as possible, but I'm not really buying any of it, because I don't know if it will ever be worth anything. I stake it just in case. If someday, SPT is able to be used for more things, it might suddenly be a pretty good idea to have over 100k staked. Right now, it's enough that I can bring in a lot more and keep staking it, but that's the only way I'll really collect it. That and posting about playing Splinterlands. I delegate 90k SPT out to @monster-curator.
Spreadsheets? Spreadsheets!
I'm keeping track of everything in one big spreadsheet. I have one master sheet with all of the data that I fill out roughly once a day. I say roughly because I'm nerdy enough to make a spreadsheet, but not nerdy enough to figure out how to pull in the data through some sort of scripting. That's where HiveStats comes in really handy. I have a bookmark folder of the accounts I want to track and I just open all of them up in a new window, jot down the data, close the tab, move on to the next account. It's pretty fast. Maybe someday, I'll figure out how to do it automatically and it'll be a lot easier. For now, this is not too bad.
Anyway, I went off on a tangent there. There's a master sheet with all of the data, and then other sheets with data populated from the main sheet for specific tokens laid out a little easier to read. That's my level of nerdiness.
PREDICT THE FUTURE!
Part of the instructions for this post contest are to predict what the prices of LEO and HIVE will be in 2021. I will do that, as it seems to be required, but I want to say for the record that I am absolutely taking a shot in the dark and just guessing and trying to be very very modest about it.
I think HIVE will get up to around $.25-$.30 this year and LEO will get up to $.60-$.75. Again, I'm guessing. I hope I'm wrong but in a good way... I hope they exceed any of that. I just don't know what to expect anymore. I'm still here and waiting optimistically with the rest of you, but I also consider this is long-term plan of mine. It could very well be years before my magical pennies turn into something better than magical nickels. Nickels will still be nice. I'm hoping for dollars, though.
That's all!
I'll hopefully have many more posts about it this year with more details about how this is all working out for me and/or how I've decided to change course, should that be the case.
Best of luck to everyone out there. I'm looking forward to read more of your posts!
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I've been looking at moving most of my DEC into Hive as well. From there I either power up my account or I move it into LEO. I have also been doing a lot of stuff with NFT's and NFT games over on WAX. My hope is that I an make some decent profits over there that I can then eventually move into Hive and LEO. Awesome goals!
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That's what I do as well. Sometimes, when I sell the DEC for Hive, if either LEO or WEED is down enough at the time, I'll buy some just because I feel like it's on sale. LEO doesn't seem like it's going to be going on sale much lately. As much as I love to see the price rise, I'm now getting less LEO from my Hive Power delegation.
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