I managed to read the entire report today and took notes on which projects were mentioned. I had to look up several projects that I hadn’t heard of before, to see where they were traded, and I wound up opening some small positions on everything that was listed on Gemini: $COMP, $AAVE, $BAL, $MKR, and $FIL. I even threw in $CRV for good measure, and opened a much larger position in $YFI. I’m still waiting on my $SNX order to fill. There are a couple more tokens in the list that are one Kraken that I plan on taking up, such as $DOT, $XTZ, $ATOM, $ALGO, $BAL, $KEEP, and $GNO. Kraken has minimum bid limits, and I don’t have the liquidity to open positions in all of them, so I’ll have to wait. There are other projects that are listed on Binance and Bittrex that I may queue up at some point, but I’m staying off of there for now.
One takeaway from the developer report is that $EOS is actually losing active developers. It may be time to drop my bags in that. I’ve been holding this position since September of 2017, and am up over 300%. It’s not a huge tax liability, but I’m not sure if I want to wait until Jan 1 to sell so I can delay the tax bill or not. The question that’s biting at me is timing. I could spread the proceeds from the EOS bag around pretty good. BTC-wise, EOS hasn’t been doing too good, even though it’s USD value has been doing OK. There’s also the question of all these airdrops that I’ve gotten in my wallet that I have no idea what to do with. I’m going to need to do some research before I decide what to do.
As far as fiat goes, I’m being very aggressive right now, and aren’t keeping any more cash than I need to than is needed for the following month. I’m increasing my weekly set-aside to about 22% off my take home pay, and it’s getting sent straight to the exchange. The rest gets set for the next bill, and it gets paid as soon as the total is ready. Rent for January just got sent to the joint account, and I don’t even have any credit card bills due until the end of next month. I’m sitting real pretty right now, and feeling pretty good.
The big question right now of course is what’s going to happen with BTC. I’ve made a couple small buys during this dip, but it’s anyone’s guess whether we consolidate or go further down near $15,000 before the eventual moon mission begins. I’m considering exiting the Yearn BUSD vault and putting those proceeds straight into the WBTC one, but the stablecoin vault is earning 20% APR right now. If the price has any more huge pullbacks I’ll probably layer some margin bids on the levels in the following chart, and will probably go all in with the main cash reserves if we get in the $16,500-15,900.
The other token I’m considering dumping is my IDEX position. Running my staking node isn’t profitable, even with the increased rewards, and the token price has fallen so much since the Binance listing. I’m not really confident in the project given the success of the rest of DeFi and other DEX projects, so I’m really conflicted about this one. I’m really not trying to dump until the new year though, as I’ve done really well with this one. I hate to sell here though. I really feel bad about not selling in September at $0.07 a token. Now it’s just 0.03. Sigh.
I feel like I’ve been staring at charts all day. Time to go relax.