Taking a loan from myself to buy LEO
I am in a race to buy up 100K of $LEO.
Personal choice, based on my own risk appetite.
My previous posts may give you some clues about my thinking, in case you are keen.
In short, lots of things happening in LeoFinance.
Anyway, I am moving towards my first checkpoint of 50% of 100K, i.e. 50K.
In addition to selling some layer 2 tokens that I have no use of to buy LEO, I bought LEO with new fiat on-ramp and staked another 4K worth of LP today, bringing my current LP to 49,221.366.
Still a distance from the 100K aim, but I am optimistic I will reach it.
My conviction aside.
This is what I plan to do.
I am going to put in some new fiat to buy LEO over the next few weeks. I am making the deal sweeter for myself by promising myself that it is a loan I am taking from myself.
This is how it is going to work.
From now on, I am going to do more to earn from my posts and curation and stack them up, both in HP and in HBD. Beyond the initial 10k HP, I will consider the extra earnings as my repayment to the loan in the future.
It is just a matter of time before I will earn the extra HP and HBD. I recall I started with 10000HP a while ago and it is growing quite fast.
If my mentality is to portion that to pay back myself, then whatever fiat that I am coming out with now to buy LEO is reduced in risk, in my view.
A few weeks ago I wrote a post about a story of financial system work. You can read it here. The moral of the story is that it is all debts. Debts can be taken, and have always been taken, to take advantage of the situation.
From what I see, it could be pretty soon that LEO price goes a few times higher. I need to adopt the debt mentality to some extend to navigate through this.
Of course, I am speaking from a place of privilege. My initial LEO stash has sort of doubled, so I do have that cushion. Your case may be different. So do think through it before you invest.
Just thought that I should think aloud and record this thinking.
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @thatkidsblack, @graciousvic, @peniel2010, @deflacion, @jacoalberts, @limonta, @young-kedar, @svanbo, @sumotori, @zakludick, @poplar-22 and @hankanon!
Posted Using LeoFinance Alpha
You did the right thing, Sadly i don't have money to take loan even from myself ;'(
It’s ok. There will be other investment opportunities.
Just be more engaged in Hive and earn for now!
I think that's a great way to look at it! It reduces both perceived and actual risk, giving you the ability to make better investment moves.
Now I know what the story on how the financial system works was about, debt :)
I don't really think taking a loan is such a good idea but I don't blame you for doing so. The prices are quite low and the returns on curation/HBD savings should offset the interest. So I think things will be fine.
It’s not a real loan…
https://twitter.com/LovingGirlHive/status/1673314503663190017
Ok, now I understand the moral of the story, thanks for expanding, because I didn't get it. Indeed almost all companies are taking debts to be able to grow and almost all peopel buying a house take a mortgage...
On the other hand I'm not completely convinced that such is needed to get forward... !WEED
@cryptothesis!
@svanbo passed you the virtual joint!If you do not want to receive these comments, please reply with !STOP
... And about LEO, I don't know, I didn't dive into it. That might be a mistake, but one can't eb everywhere at the same time... !PIZZA
$PIZZA slices delivered:
@svanbo(2/5) tipped @cryptothesis