My new financial plan....
OK... well, I missed selling on the last high. I regret that because I quit my job. I should have cashed out some when that happened, but I wasn't thinking that way yet. Even still I don't really feel that bad selling steem at $5 or SBD at $7. I think they'll be worth more by the end of the month. I think this is just a temporary set back, but all this is getting me to think through money and my investments.
I have a fair amount invested in crypto right now. The bulk of that is in Steem, but I used some of my author rewards to spread out my investment into other cryptos. Ultimately I don't think that matters too much. All of these altcoins basically go lockstep with btc. I'm hoping/betting that one coin will rise faster than the others, but if I average out my hits and misses I'm betting I'm really mostly tracking my value with the value of btc at any given moment. It's the rare few that have the bulk of their money sitting on tron before it moons 8M percent.
New Plan
Right now I'm cashing out a small amount of post rewards every day. I'm going to keep doing that to make sure my family has money to operate on. Next up I've started a powerdown. My goal here is to invest more in the media side of what I've been working on for a while. I recently toured @davidpakman's studio and am working on a plan to get a lite version of that going. Can think of my studio as a Dogepakman studio. Much fun. Very wow. Such camera!
Anyway, I'm pulling some of that out of the system because I need some fiat to make that baby happen. I'm also hoping to keep more steem as a liquid steem. I want to be able to sell the highs and buy the dips. Some folks make think that HODL is right, and generally I agree, but now that I quit muh jerb I can monitor the market a little better and try to use some best guesses of highs and lows to sell low and buy high... but that takes liquid steem. So, that's on the radar too.
Spreading some back to fiat
I happen to think this is a small correction of where the market is heading. I think we'll hit 100k btc by 2020. I think as more people come online it'll be worth more and more, and as the value goes higher more and more people will want in. Some exchanges are seeing 100k new users a day right now and struggling over the growth. It seems to me there's more room for growth even if 20k btc seems absurd to us now. That leads me to think that Steem is gonna have a banner year. I think we'll be at $50 or more by the end of the year. So, I do hate the idea of selling at less than that, but timing matters.
What I'm really looking to be able to do is ladder sell near the highs and ladder buys near the lows and hopefully catch some good discounts on steem while paying my bills. I also think I need to diversify. I'm pretty excited for the returns in crypto, but the risk seems through the rough all the time, and the stress is high too. Kudos to the guys doing this for a while and having the balls to hodl through some gruesome down turns. But they're probably single. I've got a wife and kids and no stable employment (though I did pickup a nice gig writing a white paper for another coin). So, I'm trying to balance that stuff out.
As much as I hate it I think I'm gonna have to invest some of this in some more stable shit. I guess I'll start paying down my house faster...
Cool opportunity
This wasn't worth it's own post and I'm hoping they don't read this, but I made an appointment with a crypto VC firm in Boston. I'm gonna pitch them on the gospel of Steem. This fits in with my mission of growing the steem ecosystem. Hopefully they'll be passive investors rather than circle jerk some other VC firms that come in or even better use us as a platform to talk about their investments and what they're doing.
Who knows. Could be cool.
Not financial advice
I hate that we're putting this on these kinda posts. But this is what's right for me and my family. do what's right for you and yours. I'm not a financial advisor or at least I don't self identify taht way. I identify as a vegan diamond encrusted knapsack and clearly those can't provide financial advice. W/e these disclaimers are dumb.
Good job on leaving your job and living what most people would call the crypto dream! Out of curiosity how did you get such a big negative Steem delegation?
Dogepakman studio. Much fun. Very wow. Such camera!
U owe me a new keyboard Mister aggro-ED! LMAO with a mouthful of coke zero is a ME$$$! ;)
Nah, Really tho, I hope it works out well for you. I am much closer to retirement (nope, I'm not that OLD!) but very, very early, earliest possible in our system, and I may be just fine with STEEMIT and other investments. I still have a bit of time, but it's coming together!
BEST WISHES, @AGGROED!
I really like the honesty in this post and the practicality you present. I am also looking forward to seeing how the video and studio projects go. Much love as you continue to do awesome things here.
Thanks bud!!!
Never feel bad for selling some crypto for fiat if you need it for a project in real life!
Because,
What is important is real life...
You do what you think is best for you and your family, and that is what you should do :-)
Interesting outlook. I'm (1) glad that you and others are bullish on STEEM & SBD, but I also (2) am worried that since we're all invested in it, we may be unreasonably or naively optimistic about it. I HOPE that I'm wrong, but time will tell.
As a new comer (3 months, just before the boom :-)), I tend to keep my head cool from all this overoptimism on Steemit. Yet, I did my personal homework, and the fundamentals are there, and the dev team appear to me very competent and motivated. So, maybe not a Steem at 1000$, but a good solid growth seems to me reasonable.
Agreed. I figured I would try it out as a way to put up my ideas and see what happens.
@aggroed. Thank you sir. Yeah, I am still learning the ropes but I'm starting to understand all this Steem jargon more and more. That studio idea sounds really good. I also Follow @davidpakman and really enjoy the quality of Content he puts out and the subject matter is really stimulating to me. I think you have the opportunity to make it as good if not better. You seem to have the Following do it. So I really look forward to seeing that :)
thanks very much, I appreciate that!
Yep, keep it up man. Really good stuff. I think some of us just cannot get enough of political topics especially when talking about the frailties of one well known politician lol
@aggroed I think youve got a better financial plan. The volatility of cryptos is scary especially for those people who hadn't had much or just starting and putting investment on it. But for people who had nothing, embraced it well. For them there is nothing to lose.
wait, i thought you were a furry knapsack?!?? wtf agg, quiitng your job doesn't mean you can stop working, even i know that. you are an adopted furry and must not renege your roots.
now is the furrfect time to launch the furrcoin and furry product line. i've included a photo of the furry knapsack here for you to bring to that meeting....
ps. you should probably commence dying your hair and dressing in vivid colors, per furry custom.
pps im listing you as directing manager of furries anonymous.
But I prefer to stay furry anonymous...
Just don't put it in my public profile I prefer jackelope.
omg you know about de jackalope?? dis is a long time favorite of mine. much jackalope hunting by mah frens and i out in da wild west.
Yes totally agree with the above as most alt coin move together with btc so once it moons we expect a familiar result to alt coin.
The idea of withdrawing some steem out is cool as family comes first, although am not yet married but as relationship goes, those closest to us should be held with all love and caring for them just goes to show you are human.
Regretting to sell sooner, that's what most of us think even us with little or no steem lol but same time it would have probably been enough to buy more steem this low presently.
At the end good luck and love to your family.
You do you @aggroed. Thanks for sharing your strategy. Helps give us too-afraid-to-leave-the-rat-race folks some insight and inspiration.
Everything above should be construed as mad props. 😎