About a year ago, when I first started writing about reFIREment, I added up my debt on a whiteboard, mortgage and student loan debt. I divided that debt by the number of bitcoin in my hardware wallet and wrote the price BTC would need to hit in order for the value of that bitcoin to zero out that debt. It didn’t really hit me yesterday, but we hit that number.
But I’m not selling. In fact, I went in the kitchen and erased that old number and wrote a new one. One-hundred twenty thousand.
In addition to my bitcoin, I’ve got BlockFi accounts for all four of us in the house, plus I’m holding some funds for my dad through our spec mining partnership. In addition to that, I’ve got ethereum wallets that contain even more funds. All said, it’s a stupid amount of money, considering where we were a year ago.
I’ll be reassessing some things later this morning, but I’ll probably be pulling my BadgerDAO LP stake out of at least one or more pools this morning, starting with the Badger-wBTC Sushiswap pool, since it’s the only one that I can positively claim is mine, and doesn’t have any co-mingled funds in it. The rewards I’m getting aren’t enough to justify the impermanent loss that I expect on this next leg up for BTC. It will trigger a, shall we say, taxable event, so I’m still not sure how I want to deal with it. wBTC will probably stay as it is, but I may need to liquidate my Badger to USDC. I’m still bullish on the DAO, but the goal right now is at least a year’s salary in stablecoins by June 1st, my official “retirement” date.
I’ve got a new hardware wallet on the way, I’ll be restructuring how I handle funds to keep things easier to manage. Separate ETH addresses for everyone will have to be the way moving forward, cause calculating NAV manually in a mixed wallet is just to challenging for me. Crypkit looks like it might have the features that I want, but at $300/month, it’s a bit too pricey for me right now. Once I hit my goal I can put a business plan into action, and can justify the cost of fancy accounting software and other subscriptions.
Elder drew a really nice leprechaun for St. Patrick’s day, and I started looking into what I need to do to mint it as an NFT. I was playing around with MurAll ($PAINT) last night, trying to figure it out. I estimated for about $300 PAINT tokens based on the size of the picture, but the gas to mint it is several hundred dollars more. I also spent some time messing around with Rarible as well, but didn’t get around to finishing it before it was Elder’s bedtime. I’m going to investigate some more this morning, and see if there are better options available.
I also showed her Printful, and gave her some ideas about making some customised items. She’s got ideas. Just-in-time shops are much cheaper to set up than minting NFTs, that’s for sure.