We got FULLY REKT over the past 12 weeks

5 months ago

Hello SPIers, It's not been an easy few days with the markets getting wrecked with the threats of a recession. It has very 2020 COVID vibes and feels like a blackswan. It might be rough for another day or 2 before a recovery but hell, im just writing what makes sense which is rarely the case for crypto.

For SPI, we have lost alot of dollar value since the start of the year, almost 40% in 12 weeks. The fund was roughly 75% HIVE 12 weeks back and today is 67% HIVE. This is simply because HIVE has tanked alot more than our other holdings.

I did say when I converted our BTC into HIVE, the ratio would continue to increase and HIVE price could decrease but we had a plan and we're going to stick to it (which we did). At the time BTC was trading for $60k and HIVE 30 cents, 1 BTC got 200k HIVE. The current ratio is 1 BTC to 331k HIVE which is interesting because thats the last cycle's BTC to HIVE ratio peak and it'll be interesting to see which way it goes from here. We could have got much more HIVE had we held off but the word "could" adds risk. Im still happy because I dont see a point when HIVE ratio does not drop to at least 50k HIVE to 1 BTC, last cycle the bottom ratio was 1 BTC to 21k HIVE. I understand that might be crazy but HIVE has a much better chance to 10x from here compared to BTC and when it does, the ratio will drop like an aeroplane with no gas.

Long story short, we're lossing a bunch of dollar value because I converted our BTC into HIVE and HIVE has performed poorly. Long term, this current dip will not matter. I dont see there not being an opportunity at some point over the next 18 months to sell HIVE at over the 30 cents we paid for it. Even at $1, thats $200k which is probably better than whatever 1 BTC peaks at this cycle. We wait for $2 and get $400k, which would be like trading 1 BTC to get 4 back. I mean we'll take the dollar value thank you and wait a year for the market to enter the bear. Could be gaming-changing stuff for SPI and its token holders.

In other news, our ETH margin trade got wrecked and we're bust. I woke up this morning to see I had 8-9 emails from Binance from 2am-4am requesting to add more funds but I missed it and the sharp decline wiped us out. I thought we were ok until I logged into Binnace and saw it because I had 2 SOLs sitting in the account for an emergency like this but it ate through them and more. We see ETH down 11% for the day but if you look at the day chart (5th Aug), you can see it tanked 14% in the 20 mins between 01.50am and 2.10am. This crash is what killed our trade. Anyways, thats $500 and 6 months wasted, ETH was trading at $3200 when we entered the trade just to show you how far ETH is down in 6 months.

So here is the SPI dollar price chart below from the start of the SPI year 12 weeks back. Its not that pretty to be honest but the comeback will be amazing and fast, but not soon, lol. The first 12 candles are weeks with the 12th being from yesterday's report, the 13th candle is the difference between yesterday and today.

In week 1, the price of HIVE was 32 cents and the SPI price was $1.73. Today it's $0.98 which really pisses me off because I did not want the SPI dollar value to drop to under $1 per token. Not for any reason other than it feels like we broke $1 already with remaining over $1 well over for 3 years now. Last cycle, SPI bottomed at under 30 cents so cycle over cycle, we're far from losing. Its the short term stuff thats a pain.

Anyways, I have forgotten the point I was trying to make. I went away from my screen for 20 minutes and it's killed my mojo. So when the bull is in full swing and we're rich again for a year, that'll be great and the best time ever. We'll increase SPI dividends, not so much, we'll introduce monthly HBD dividends to go ontop of the normal ones and we'll plan smarter for the next cycle. Each cycle, I get a little better at this, like a woodsman carving away at a sculpture removing all the unneeded bits like bad trading habits, resistance to the FOMO, etc.

Oh yes, each cycle, SPI gets stronger for sure. This current dip is shit but whatever, hold for 12-18 months and see what you're rewarded.

Getting Rich Slowly from June 2019

Token Name	Main Account	Link to hive-engine
SPI token	@spinvest	SPI
LBI token	@lbi-token	LBI
Top XV token	@spinvest	XV
Eddie Earners	@eddie-earner	EDS
EDS miners	@eddie-earner	EDSM
EDS mini miners	@eddie-earner	EDSMM
DAB	@dailydab	DAB
DBOND	@dailydab	DBOND