31st January
Portfolio: £195,789.64
No, Tether hasn’t collapsed (at least not yet) I just decided it was time to take some money out to a) enjoy my winnings a little and b) take some out of the ecosystem to buy back in at the bottom of the bear market. Last night I transferred just over 2BTC to my Uphold account where I exchanged it for GBP and sent it to my bank (I’ve now confirmed that I can send to my bank straight from Uphold which is great for large transfer). Some of this I’m going to spend in the real world, but I’m going to leave the bulk to go back into the ecosystem when it hits bottom. The news about Tether’s subpoena last night turned out to be over a six weeks old, but it still doesn’t erase the fact that the doubts remain and that it could implode at any time, which is a reason why money is leaving and new money is staying away. Korea is supposed to be reopening its trading doors today, but I have a feeling that will be something of a damp squib. ‘Wait til Asia wakes up’ and anything like that are mantras I no longer subscribe to. Once bitten twice shy, etc.
The market is generally still sliding however, and some predictions have BTC going down to $7k, which means there’s nothing to do but wait it out. I have 2 more BTC I can cash out, but I fear I’d miss the bounce back. As I’ve said before, this is a good time for research and planning the counter attack. Regarding my strategy I’m thinking about going big on PPT because of the passive income potential and the fact it has been tipped as being as big as VERI. It’s had a run up in the last 48 hours though so I’ll let it cool its jets a bit before making a decision. It could end up being a little bit of regular work for a lot of income years down the line, and after all, that’s what we’re in this for – the long game. When I think back to my days trying to be a full time writer, scrabbling around for work and not being able to pay the bills, then chasing up invoices on the jobs I did get, it’s amazing I can make hundreds of times more than that by following sage advice and being open to learning.
I went big into ICX last night with their conference coming up. I admit it – I fell for the FOMO. All people were saying was that there was going to be a huge announcement and this would result in it going 2x, when I knew, I KNEW, that it would dump, because that’s what always happens. I managed to sell for my money back on a small pump after the dump, but each one of these instances is a lesson learnt. It’s a fantastic option long term coin, and I will certainly be buying back a huge stack, but it will now have a steady retracement so I’ll pick up at a more attractive price. At least now I have some liquidity for ICOs. And on that subject…
ICO UPDATE
I’m in so many now it’s hard to keep track.
- Elastos coins arrived in my wallet. Completely forgotten what it even is so will have to research it again!
- TokenPay – token distribution has been a farce. Now not expecting anything until mid/end Feb. I went in deeper than Ron Jeremy on that one so I hope it works out.
- Apex – Coins should be with me within a few weeks. Again, will have to re-research that one.
- Caviar – ends today. Might put some more in at the last minute for the residual income.
- MedicalChain – The coins should be with me in a week or so and on exchanges soon. I think that one will fly off the shelves as it was more or less pre-sale only and my BB group pooled for it, as is becoming the custom.
- Bee Token – This launches at midday today but the limit is 0.2 ETH which is about $225. Not sure if I’m going to bother with it for such a small amount. I have 24 hours once it opens to decide.
MINING UPDATE
Managed to get the network monitoring software hooked up to the smart plug that powers the miner, meaning that I should be alerted when it goes down and it should automatically reboot and restart. Time will tell on that one.
Today’s lesson: Trust history and market conditions, not FOMO