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Blood in the streets

Markets continued to tank today. So, we learn.

Seems like everything was in the red today. I didn’t take a lot of time looking at the markets today, but it seems that everything was down significantly. $BTC broke below $10K, and took everything with it, it seems.

The losses that got stopped out in the last week or two, like $BAT and $CVC, were actually good in that they preserved some capital. And since I only deployed two percent on the other orders I placed, I’ve managed to avoid taking losses on $ZEN and $SOL. I’m still waiting for my COSMOS/$ATOM order to hit, and if Aave’s $LEND token has another flat day I may pick up some of that as well when it hits a nine on the TD Sequential.

I’m also keeping an eye on the IDEX-ETH price. If it spikes I may trade some; I’m still open to the possibility of providing liquidity on Uniswap. We’ll see.

I read a lot of Mastering Ethereum. The cryptography chapter managed to put me back to sleep this morning, but I’m actually getting to the smart contract part and am looking forward to trying my hand at Ethernaut right after I get done with this. I’m really looking forward to writing some programs to watch what happens with these liquidity pools.

Should be fun.

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Black Thursday

Today was a good day, unless you count what happened in the markets.

This morning actually started out pretty good. My four-year old slept in her bed for the first time ever, and both my wife and I had the best night’s sleep in a long time. Everything was pretty calm around here and I managed to get a lot done.

Bitcoin took a huge dump today, but so did most of my equities positions as well. I was actually pretty calm about it, as I had some stops trigger over the last couple days, so I’ve got my bigger positions protected. I even picked up some more Grayscale Ethereum Trust, $ETHE, as the premium held, and DeFi isn’t going away anytime soon. I was actually pretty calm about it. Staircase up, elevator down.

I had a couple stops set on $ICX and $LISK from last week, it looks like both of them triggered, but neither of my recent buys hit my stops, so that’s good. I picked up some $ALGO today as well, and Cosmos, $ATOM, just hit a nine on the TD Sequential, so I’m probably going to market buy some of that as soon as I get done writing.

I did spend some time fretting about my USDC holdings which are currently just sitting in my wallet. I’m half tempted to dump them in Yearn, but with the gas costs I’m probably just better off dumping it back in BlockFi. I am however, at total risk of becoming a degen and dumping my entire ETH holdings in the new yETH vault, with it’s shiny 99% APR. Thankfully I missed the withdrawal window to get my funds out of BlockFi until Tuesday at the earliest. Waiting is probably a good thing right now, so I’ll do nothing.

I spent some time reading over the Ethereum yellow paper today, and I plan on spending the rest of the evening Mastering Ethereum as it were. I want to be able to read these contracts and understand exactly what they’re doing before I go and do anything stupid.

And I’m really feeling the urge to do something stupid. I got a notification from my student loan issuer yesterday. The debt forgiveness has been extended until January 2021, so I don’t have any debt or interest to worry about till then. But I have an extra $600 a month that will be coming due then, and that is going to be a real big problem for me unless I take another job — or choose one of the other payment plans. The possibility of raking in some of that sweet, sweet, yield farming money is looking really, really good right now. If I was willing to dump all of my BTC into ETH and stake it, I could pretty much retire right now.

I know it won’t last for long, and I would rue the day I was born if I did something like that and lost everything to something like a contract failure or exit scam. I’m taking it real easy right now, and trying not to get caught up in some stupidity.

At least for now.