Most of the blood from the last two days has settled. BTC is back up over $50k, and ETH has reclaimed four. I have not made a transaction on mainnet in over four days, and have had a forty gwei transaction pending since then. Instead, I’ve been planning out my activities and estimating gas costs, waiting for another costs to come down a bit more. Gas is at eighty now, but I’m hoping for a couple more days below fifty before I start making any moves.
I’ve got several farms and stakes that need harvesting, but mainly I’ve been eyeing the BTC 2x-FLI/wBTC pool on Sushiswap. Pairing the 2x and native token effectively creates a 1.5x leveraged position, and the fees on the Sushiswap pool basically pays you to hold it. I really wanted to do something a few nights ago, but couldn’t justify the cost with gas at three or four hundred. ETH is going to become even more expensive, so I’m holding on to every single bit. Especially since I’m not going to be earning fiat after three weeks from now.
That’s right, I have two weeks to go after today. I actually had a handoff meeting with a team out of St. Louis to go over our clients, I spent ninety minutes debriefing them and have another meeting next week to go over a few more operational details. It’s really happening.
One small wrinkle in my reFIREment plan, if you will. I had BTFD FOMO so hard after the Tesla FUD that I dumped my entire A tranche that was on Voyager into a BTC market order. I’ll admit it was a very stupid move, considering the fact that I had just held it up as assurance to my wife, who was concerned that I wouldn’t have cash available when “something comes up.” I told her I had funds available on the exchange that I could move directly to my bank within a day or two, not to worry. And now I’ve gone ahead and bought the dip with it.
I did at least manage to draw up a trade plan after the fact, and even calculated a two percent loss level on the cash position. I came very close to that yesterday, but right now I’m back at my entry. I chose $70k as my exit just to give myself a 5x R/R on the trade. However, Voyager doesn’t allow limit orders that are “too far” outside of the current market price, so I might be forced to move the funds to Kraken just so I can place a proper OCO order on the position. And part of me wants to send it over to Coinbase, swap it for wBTC and put it into the BTC2x pool I mentioned earlier. I think I’ve put myself in enough of a pickle. I should probably just cash out now so I don’t have to worry about tax ramifications, but I know I’m going to hold this for the next leg up.
I’m still working my way through the Rust tutorials, I got hung up on the multithread lesson, so that’s going to take some time today to get that right. I’m at the point now where there aren’t any video tutorials on Egghead, so I had to figure things out for myself. I felt pretty good when I managed to clear one of the later iterators lessons that required me to write some functional one-liners that used closures. I might get this programming thing yet!
Even though I haven’t been active on Ethereum, I’m still tending my STEP farm on Solana. I’m pretty far down underwater right now, but it’s printing cash every day, so I’m going to hold this one for now and see how things go. I want to automate the harvesting, so that will be one of my projects once I finally start moving into the Solana side of things. I’ve also been trying to corner the Serum market on Star Atlas posters, but more on that another time.
Last thing I’ll leave is this podcast that I listened to a few days ago. It resonated with me because it talks about the idea of a time-multiplier. Doing activities today that will give you more time tomorrow. This is my whole philosophy with automation, and this guy basically has system to it, and gives himself a 30x time investment quota to work on things. Meaning, that if you spend five minutes a day on something, then you should spend one hundred and fifty minutes, or two and a half hours, training someone to do it, or figuring out another way to delegate it or automate it. He also says that getting someone to do something at 80% efficiency is better than doing it with 100% efficiency yourself, as it frees up time, and that’s how successful leaders operate. It ties in very nicely with the Essentialism book that I’m reading.