Hello SPIers, It has been a minute since I last did an update. Today, we will be looking at what's happened since the last update, what's happening now and what the plans are for the short- to mid-term future.
Since our last update
HIVE - Not much happening with our HIVE balances to be honest. We earn a little from curation still, but most of the HIVE we acquire is now through EDSI as it's finally become profitable. We'll never see this HIVE as it's locked into the EDSI ecosystem, but it's a balance on our books and thankfully its a growing balance instead of a declining one. To give some context, EDSI ran at a planned operational loss for its first 4-5 years as it minted more EDSI tokens than it powered up HIVE. As things have compounded, it is now powering up more HIVE than it mints EDSI tokens. We are holding a little HBD but not much, as I find it very different to convert, and it's not very liquid when required.
HIVE-ENGINE - Since our last update, I have done a little cleaning with wallets, emptying them out. I never bothered to sell most of the tokens and just shipped them to @spi-null. So many failed token projects. The only tokens we're holding now are our own tokens, namely EDSI, DBOND and a few SPIs. We've cut everything back to basics, backed-only tokens.
Non-HIVE - I gutted pretty much all of our non-HIVE holdings just after the last update at the start of the year in January. I converted the lot into USDT, which I then staked to Aave to earn 3-5%. Aave requires a 3-week cooldown that ended today. We currently have just over $29k sitting as USDT ready to be deployed.
What's happening now
As far as HIVE goes, we're on autopolit. I had hoped that MAGI might have sparked something that led to a bigger, more trusted 2nd layer token ecosystem. Sadly, I think people are bored with scam tokens, gaming tokens that promise everything and then fade into nothing with everyone lossing all thier money and tribaldex getting hacked a few months back does not help. There are alot of great financial products missing from HIVE but the demand and support from whales is just not here at the minute.
Off HIVE, we have $29k USDT ready to deploy. The plan was to convert the lot into BTC but BTC has broke it cycle again where it normally bottoms around a 1 years after it tops. I was hoping for under $50k, but it looks like those days are gone, and thats leaves me with what to do now? Our USDT will buy 0.33 BTC at today's prices. I dont like the idea of buying into a pumping market, and everything is pumping; even HIVE is up 65% from its low. I've not made my mind up yet and need to think about it for a few days, but something like a weekly buy of $1k for 6 months would be a smart play against short-term price volatility. With the remaining funds, I'll create a basket of the top 10 cryptos to give us some skin in the game for ALTs. This basket will be like XV token project we operated a few years ago, but not public, just for us.
Short to mid-term future
We need to get some BTC back, thats the #1 priority on the list but BTC once again did the unpredictable and (looks like) hit its bottom early and jumped 25% since. We're late to a party that never existed at $50k. Others were hoping for $40k BTC. My hair gets more grey every year. Im not interested in going hard into any ALT tokens, we did that with ETH and we got punished for it. The smart play is SOL, but what if SOL does an ETH this cycle and ETH moons? Maybe even TRX will go to fly to Valhalla this cycle. XRP will probally 4x moon overnight at same point as it does most cycles, but when? No idea, so create a basket.
Short term - Probally set up a weekly conversion of USDT into BTC. 26 weeks @$1k Mid-term - Use the remaining $3k in 6 months to set up a basket consisting of the top 10 crypto ranked by marketcap, excluding stables and pegged tokens.
HIVE-related short- to mid-term plans SPI will continue on as always. Going forward, investments will be less diverse, with less risk. You could guess that we have no plans to release any further projects.
EDSI is doing its thing, and because it's a 100% HIVE-based project, it's kinda on autopilot. I expect EDSI to continue on its path toward having 500k EDSI tokens minted, with a bigger HP balance paying out weekly HIVE income payments for token holders.
DBOND is not looking great. Its head is just above water and lots of people have sold DBOND back while the reward pool remained the same. With around 1/3rd of the tokens bought back, rewards are roughly inflated by 50%. This project was created alongside BRO (50/50), but it went busto last year. I was quick to change the keys but it's been im limbo since. I think going forward, this project will (75%) be wrapped up within the next few months. If I can think of a way to integrate it into EDSI, maybe it can be saved, but im not sure how that could happen in a way that is not a bad thing for current EDSI holders.
Another thing to note is that the cost of operating dividend/rewards bots has become very expensive in terms of HIVE each month. We currently spend around $90 a month for hosting and hands-off maintenance. It's a lot, but it was set years ago when HIVE was $0.30-40, we could earn enough to pay this. For the most part, bot fees was never an issue because we used interest earned from HBD when it was 20%, but as the rate dropped, so has our HBD balance to the point where we have a few months of funding left. I guess I better learn how to vibe code, haha.
Thats about everything I can think of right now. I have updated the spreadsheet to get some numbers. When updating, I was savage with HE tokens and basically only valued tokens that are backed by actual assets. We hold some gaming tokens, NFTs and splinterland packs, but I've valued them all at 0 because there is no liquidity or demand for them.
The SPI token price has increased a little but that's mainly due to the price of HIVE going down. Fund total is just over 600k HIVE worth $35.7k, its been higher in both $ and HIVE but it's been alot lower as well. We're still up 7x in terms of HIVE and 2.5x in terms of dollars since launch, and I've not rugged yet.
Thats a basic rundown of how things are going for SPinvest and what we'll be doing over the next few months. Thank you for reading through the post and staying on top of your investment.
Getting Rich Slowly from June 2019
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDSI |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| EDS-vote | @eds-vote | n/a |
| EDS DOLLAR | @eds-d | EDSD |
| DAB token | @dailydab | DAB |
| DBOND token | @dailydab | DBOND |
| RUG token | @rugem | RUG |
