Just when it looked like the mother coin (BTC) was going to climb back towards $100K, we find it falling back to the $80,000 mark earlier this week. If I were smarter, or more ambitious, I would be trading these swings and slowly building up my bags. Ideally, I'd create some kind of bot or AI agent that does it for me, but I guess that goes back to the whole being smarter thing. I expect it would take a lot of time, but if someone had $1000 or $500 to invest, it would be interesting to see how long it would take to build that into something a bit more substantial. It seems these swings happen at least once a week, sometimes twice, so I can't imagine it would be too hard to set some limit buys and sells.
Maybe one day...
In the meantime, I will just keep grinding away with my 9 to 5 (actually, 6:30 to 3:30), but you know what I mean. I've still got some monthly DCA buys happening, and I don't plan on removing those anytime soon. It's been a while since I looked, but I think I am currently buying a little bit of BTC, ETH, and USDC. It's peanuts to be honest, but if the price of BTC ever reaches $250K, it might actually be enough to cover some bills.
Splinterlands: Bots in Modern?
So I was playing the latest season of Splinterlands the other day with the new bracket system in modern and I came across some accounts that looked suspicious to me. I played something like three rounds in a row and I noticed that the accounts were playing the exact same cards in every battle. Then I noticed that all of the accounts had a SLBB prefix to their name. Definitely fishy!
I'll be the first to admit, I don't keep up with Splinterlands news so much anymore. It's not that the team doesn't do a good job of keeping people informed, it's just that after seeing my investment tank and the game go in so many different directions, I simply don't care as much anymore. That being said, I am sure they probably informed us about these bots, but I just missed it.
I jumped over to the Splinterlands Discord and asked a question and come to find out, the way I understand it, they are bots created by the game so that people can actually play matches, because otherwise there wouldn't be enough players to sustain the rounds or something like that?
Now, if bots are banned from modern, it seems to me like this is kind of a slap in the face by the team, but honestly, I'm probably just more upset that the bot was actually beating me. That's just how bad I am at this game...
Precious Metal Buys
I was talking to @mrsbozz the other day about how the price of silver has kind of hit a lower point now sitting around where it was last year around the holidays. We were talking about the annual buys I usually make for myself and my nephew/Godson for Christmas and she said "why don't you just buy them now?". Implying I should do it now versus waiting until closer to the holidays. My luck we could see a run on silver like we did last year.
So I jumped on APMEX and took a look at what they had. I ended up buying a couple of the new Route 66 goldbacks (one for me and one for him), they are pretty sweet looking if you haven't seen them yet. As soon as I get one in my hand I will definitely be sharing it here.
I also picked up four one ounce pieces off the secondary market. I don't know what I am going to get, but the price above spot was too good to resist, and buying from a trusted secondary source is like getting one of those mystery boxes. You never know what you are going to get, it might be something really unique, or something pretty run of the mill.
Most likely I will end up with some generic Silvertown pieces or something like that, but honestly, who cares, silver is silver!
TradFi
It's the time of year when I take a closer look at my traditional investment portfolio. The company that many of my funds are through just released the preliminary number for capital gains and year end dividend distributions. I have to say so far the numbers are looking really good. The majority of my investments look like they are going to be returning 7% to 12% profits in capital gains and 80% to 100% dividends. That's not too shabby. I'm starting to get to the point where the compounding interest is becoming more obvious. It's still not to the point I would like it to be, but I know it is a slow process.
I saw a story on the news the other day where a guy was talking about compounding interest and he called it the 8th wonder of the world and he probably isn't wrong in many respects. Of course, these are just preliminary numbers, so I will definitely be taking a closer look come the end of the year when the money actually rolls back into my account.
My Sports Account - @bozz.sports
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Imagine if you used those funds, converted to Hive and setup a bunch of bots to trade some L1 and L2 project tokens. Could be a !PIMP whale in no time.
About BTC, I jinxed it when I turned 69 and said that BTC would not have a solid footing above 70K until I turned 70
Buy !PEPE It has more upside than downside compared to BTC
I'm thinking silver could level down some more where it is not so expensive for growing an economy, ie manufacturing.
Was it David Wolfe?
Way to go with your portfolio and all you do on Hive.
Well done.
!GLYPH
I've got enough invested in HIVE I think. I'd rather play around with some other stuff that the rest of the world actually cares about. Which hurts to say! :) I remember when people said HIVE would never fall below $1 again and BTC would never drop past $100K again.
When you take the emotions out of the equations, profits become more reliable. Why bots are created, perhaps? If you have a structured trading methodology, bots can help squeeze more profits and minimize losses from trades.
I remember when my Aunt had balls. !PEPE #FUN
All eyes on the price of silver now! Cracking pics, nature gives us pure gold every day, especially when you capture with a Pixel!
Haha, very true!
Nice financial mix-up and I think this diversification is what will repay us in the end. The DCA angle is the best and I am doing the same, monthly buys.
Thanks! I'm still holding some stuff that I hope will pop off one day, but I am not counting on it.
The bots you mentioned are the easiest to beat, archmage bots are much harder, especially starting at fourth and third division of Modern Champion... And some bots are basically unbeatable...
I wouldn't want to try to setup an AI bot and try to trade any of the major mainstream assets, because you would be trading against institutional traders who have faster everything and have teams of people monitoring their AI trading systems...
Well, clearly not for me. I lost two matches against them in silver and said screw it. I will probably not play anymore this season. It's a lot of trash.
I don't even care about being faster. I just care about selling when it goes up to $86K and selling when it drops back down to $82K. After a few months of that I could maybe have enough to fill my gas tank.
Try it, a couple hundred bucks is not much to loose and you might make some money on it.
BTW, those bots are really for liquidity, they don't make any SPS. And as the season moves closer to the end you will find them easier...
It still feels a bit hypocritical of them to me.
Hopefully you don't have my luck where as soon as you buy the price crashes. 😆
Since they're gifts, in the end it doesn't really matter.
!BBH
!PIZZA
!ALIVE
I'm sure that is what will happen anyway! I plan on keeping one of the goldbacks and two of the 1oz pieces for myself, then giving the other goldback and two pieces to my nephew.
Where would you find the time??? You seem to be quite busy as it is :)))
I'm good at making it look like I am busy!
😂
Quite a few people are using Grok Bot now to manage their entire financial portfolio. I'd still be very nervous about handing over control of all my financial accounts to an AI bot. Other people are just giving Grok a set amount ($1k-$10k) to trade with in one account. I'd be more apt to do this. It'll be interesting to see how well they do over time. I guess it's fairly easy to set up as the AI does most of the work in terms of building what you need. My brother has a subscription to Grok Bot and has built some really cool apps with it.
I think I would be more prone to the $1000 pot and just let it see what it does. Anything outside of that is just too risky at this point I think.
That would be about my upper limit as well.
I think the SLBB could stand for Splinterlands Battle Bot lol...
Oh and my favorite website to calculate compound interest is The Calculator Site
If you max out your Roth IRA (not traditional*) just ONE TIME without putting in another dollar from your own pocket then within 13 years it could turn into over a million dollars with compounded interest, if invested purely into CHPY, which pays a weekly dividend of over 0.7%. This would be 100% tax free after 59 1/2 years old or 5+ years if over that age. Here is the proof:
Wow, that is impressive! I have a 403B and a Roth IRA that I put money into. Probably it would be better if I put it all into one place, but oh well.
I would just aim to max out your Roth IRA at least one time in your life, especially with the limits at $7,500 for younger people and $8,600 ("catch-up") for those 50 or older. With the contribution limits at new highs this year and probably rising every 2-3 years from here on out it's never been a better time to use the Roth.
You can also make trades tax free inside the Roth which is another small loophole if you want to maximize the money in there. Since they got rid of the PDT day trading rules you can do pretty much whatever you want even do options, with no tax consequence.
There are tons of safer and slower investments that people swear by like the VOO, Vanguard S&P 500 ETF, which is already up 13% YTD. But I don't wanna wait 30 years to retire man I wanna be rich now lol. I've just opened my Roth this year in May but already maxed it out and full ported into CHPY. This week paid $65.88 in dividends which went right into purchasing more CHPY. Even with the recent chip stock volatility the dividends outweigh any short term paper losses - I've received $478 in dividends on this retirement account since opening it. As long as we don't see a nuclear meltdown in stocks this could become a very lucrative position.
I think we are eventually due for some kind of pull back in the stock market. People have been forecasting it for a while now. It will eventually recover and if you are still young it shouldn't be a big deal. I just turned 50 this year and I also just hit the point where I can retire if I wanted to. I'd like to build my bags up a bit more though. So realistically, I only have 5 to 7 more years of income ahead of me. Unless crypto finally does what we have all been hoping it will do.
Now all we need are people DCA into Hive along with BTC (and even silver).
I know a lot of people who have been trying to do that. The common belief is you can just build a bot and money is pouring in. The brutal truth is, you have to be an exceptional trader, work with the best coder, to optimize the bot for every possible and impossible situation and even so, there are no guarantees the bot is going to work 100% efficiently. Efficiently doesn't mean profitably though.
I have a friend who's close relative took his own life due to such a bot. They built it, everything was perfect, money was pouring in, till market conditions changed and a lot of influential people lost a lot of money. I've been trading for a few years now, but would never trust a bot 😬
So you can put this thought to rest as it would bury you alive, before you would make some profit 😃
That's horrible, I am sorry to hear that. I think the difference for me is I would never put in money that I was counting on for something else. Like I could see myself starting with a couple hundred dollars I made off of HIVE that I don't really need thanks to my real job and just see what happens with it. For that matter I could just do it all manually when I happen to think of it :) Then I have to deal with all the tax stuff though...
$PIZZA slices delivered:
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STOPBTC will make it' big recovery soon enough, but it will take patience... The old day job is a necessity in the meantime, at least until you retire and take you pension. Then you can take on a second career if you like. Maybe bourbon tasting expert... Now that would be a fun job!
I've noticed the same thing in Modern, some teams that seem suspiciously like a bot. I can beat bots on occasion, but it decreases your odds if they have good cards to work with and you don't. I think the team needs to keep a closer eye on play and patterns that indicate bots, because there are always cheaters trying to game the system!
Great job on those Route 66 GoldBacks! They are pretty cool, I'm going to pick up a few myself. And four ounces of silver is four ounces of silver, if the price was right it was a great buy!
Compound interest really is the 8th wonder of the world. Start young and let it compound year by year and you will end up with a nice sum at retirement. I think Futurama had the best example. Before Fry is frozen for 1,000 years he has like $0.87 in his account, only to find it has compounded to over four billion dollars. Sad that we can't live that long to enjoy those kind of long term perks!
Have a great weekend!
ItalicHi, I’m new to Hive.blog. I’ve been doing a lot of reading and have realized that this is like a parallel universe where I have everything to learn.
I don’t know anything about cryptocurrencies, but reading what is written about Bitcoin has shed some light on the subject for me.
I gather that the price goes up and down, and that it’s good to buy when it’s low and sell when it rises... kind of like stocks on the stock market, right?