Hello SPIers, today i would like to talk about SPI liquidity and the possibility of offering something on hive-engine.
To start off, anyone that has been involved/invested in SPI for the past few years will be aware that SPI tokens can be snapped off the hive-engine exchange at massive discounts of up to 50%. People always tell me they wish they invested in SPI when it launched and my reply is, buy them on hive-engine and you're getting them for what they were worth 3 years ago, you don't like an instant ROI? It's not often you can spend $50 and get $100 worth of assets.
Remember that SPI tokens are backed by assets, not BS promises and sweet words of future growth. I post weekly reports and you can see exactly how the fund's money is allocated. If I say the SPI token is worth 5 HIVE in the weekly report and you can buy them from hive-engine for 2.5 HIVE, you are pretty much paying 50 cents for $1.
You know what? I don't wanna write about this anymore. Instead, let's talk about the SPI burn address I created last week. Its a lighter topic
I have created this account for a few reasons, listed in order of importance.
1/ For anyone on HIVE long enough, you be aware of the amount of HE tokens you will gather through people airdropping to you, receiving tip or tribe tokens from the content or dead projects tokens that run on auto and continue to issue tokens.
I hate these sorts of tokens sitting in the SPI wallet because they mess up the wallet value. We hold a bunch of M4L (dead project) miners and cause someone recently bought 0.00000001 of the miner at 100 HIVE ($29), our 850 miners are showing as being worth $25k which is close to 90k HIVE.
Shipping them to a burn account keeps everything clean.
2/ Paper profits look cool in the wallet but buy orders for the token start at 0.01 HIVE ($0.0028) so they are not so cool and it makes the wallet look bigger than it is. This is not good because someone could check and see SPI's HE wallet is worth say 200k HIVE and im reporting each week our HE wallet is worth 100k HIVE. They might think im shady and I don't need that.
Shipping them to a burn account keeps everything clean.
3/ Of course my mind wonders and surprise, surprise this burn account could turn into its own token someday. I plan to ship everything SPI does not sell to this account. Not all the tokens being sent into the burn wallet or shit tokens, maybe they have no liquidity or we any receive it in small dips worth nothing.
Overall, this will build up and if some token legitimately moons for whatever reason, we could be holding a bunch.. That's how we sell it and aim it at degenerates that love a punt.
We'll call it the "Super Hodlers Investment Team" token. That ticker for that name might be gone already, haha.
Anyways, if our shit turns into not shit. We can value up the wallet somehow. Keep 50% for SPI and sell the other 50% as tokens to people that are crypto degens and looking to take a punt.
Will probably never happen but my mind wonders when im setting up new things. I thought of this while i was transferring crypto from the SPI account to the burn wallet. Is it just me are do HE transfers take like 15-20 seconds to process? I understand it's 2nd layer and doing 1-2 transactions is cool but doing a bunch gives you time to think.
Here is SPI burn wallet as it is today.
I called it a burn wallet but i have all the private keys and so will shanibeer soon as well. It's just an account we send tokens to, to get them out of our main wallet. This account is not included in the SPI report.
I transferred these tokens around 10 days back and im waiting on alot of others that are unstaking. I'll ship everything else over in 3-4 weeks' time when most have finished.
Oh, you might be seeing EDSMM there and be thinking, WTF? I recently released the final batch of EDSMM and to get the remaining out of the account, I moved them here. They are and will never be staked so miner rewards are safe.
You can view the wallet yourself anytime - @spi-null
Feel free to use this address to burn tokens. haha
Thanks for reading through today's post and staying up to date with SPI.
Whats are you thoughts on SPI having a burn wallet?
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Haha 😂... I didn't want to laugh at this part but I can't help it.
Great move. I am sure this will help SPI keep track of their investment portfolio
Your welcome to send all your unwanted swap.hive are any swap. tokens to us. baaa-hahaha.
Yes, its making the wallet look cleaner. Thanks for taking the time to stay up to date with SPI.
Great idea - de-cluttering for wallets 😂
Yea,i like to keep it clean and its quicker to send unwanted compared to selling them. lol
Awesome idea. I will use that to clean up my HE-wallet!
Yep, it'll make your wallet much cleaner. Thanks for checking out the post.
The idea is not bad, even for personal accounts. On the choice of tokens to send there, I won't comment...
Great idea, I'm wondering about some of the tokens on there, like CTP.
Seems like in the future, this could be an account that is used to "check" to see if an investment is a "good" investment.