Why I Sold All Of My Silver Stack To Play More Games
Ever since getting into Splinterlands, I've been cash poor. I have everything I need out of life and I have lots of crypto but to pay my bills I've needed to take my Dec earnings out of Splinterlands.
Besides crypto, which I refuse to sell any of for so many reasons, the only thing I had that I didn't need that I could get cash from was a big ass pile of silver Id been stacking since 2009.
Helping my decision was the fact that I'm moving to another country and I didn't want to deal with trying to get it over the border or finding a custodian for it but that was only a small part of my reasoning.
The main reason was that I believe I've stumbled onto something incredible in Hive and Splinterlands.
Besides my SPS drop, I regularly make at least $150 per day in Dec rentals and while that's not going that far these days in Splinterlands cards, there is so much else out there that this income puts me in an amazing position to take advantage of.
Buying $150 per day in Hive or Leo or SPT for instance will build a whole new income of curation rewards.
Similarly there are all sorts of games and projects popping up all the time where a person with a steady flow of income could start building substantial positions early without having to put any outside money in.
Now I realize money is money and I could just as easily take that money out and put it in the bank so not doing that is basically the same as putting outside money in, but for a little while, I can trick myself into taking some chances I might not otherwise take.
Ultimately, I want to use this opportunity to build a war chest of digital assets all throughout the world of Hive that I'll be able to continue to rely on. When I start to take some money out again, I expect the money being generated from this investment will be significantly higher and more diversified than it is right now.
Now if I'm being honest, it was hard to sell my silver. I'd actually never sold any of it in the 12 years I'd been stacking but I've come to believe that old world assets will underperform digital assets by multiples from here on out and I just couldn't see holding onto it any longer.
So here's some goals over the next little while and some of the things I've already done in the past few days.
First, I doubled my SPT stake to around 40k this week which brings my curation award to about 11 spt. My goal is to 10x that in the next few months.
I also doubled my hive power from around 150 to 300. I have some work to do on this one. I want my curation award to be at least 1 hive. Not yet sure how much HP I need to make that happen.
I got up to 100 Utopis. When I posted a while ago asking for token suggestions someone gave me this one. I checked it out and I love the dudes hustle so I bought in. I'd love to get this up to 500 and reassess from there.
I bought a few Beta Epics and Legendary cards in Splinterlands I thought were underpriced a tad.
I got into the Rising Star game and picked up 24 packs to get started for 100 hive.
I bought my first 700 1up tokens. I wanted to buy more but its run up pretty quickly and I think it might give a better entry. Not sure but I just didn't feel right loading up too much.
I bought 35k LVL tokens from Psyber x to start a stash on what might be a pivotal game for hive. It honestly doesn't sound like my type of game but that's no reason not to invest a little.
I bought some more packs for dCrops and then got overly excited and opened them. I'm really bad at not opening packs lol.
I bought some SPS because I was going to be just shy of 150 packs presale.
I bought some BEE tokens because I gots plans.
I picked up some random miner tokens just to see what that's all about.
And finally I just collected some more DEC to increase my SPS drop.
Not too bad for a bunch of shiny rocks that I never really even look at. Ultimately, I think it's going to be one of the most important investing and life decision I'll make.
What about y'all? Are you all in on crypto and digital assets? Do you see a reason to hold physical assets like gold and silver?
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I dont think gold/silver has as much charm as before. I think digital is the way to go, including NFTs
at some point millions of players worldwide will start playing triple AAA games and this thing will explode
not sure how to capitalize on it? keep the bags of crypto used on NFT markets? no idea
I agree. I still really love the stuff but there is just so much going on in digital and we are SOOO early that I can't imagine not being here fully. For me, its all about early and more scarce NFT's. The currencies are great but only some are really meant to appreciate in value in a meaningful way so it really is case by case as to which way to go I think.
I think it's a mistake to sell hard assets but I understand the gains in crypto are hard to ignore. Just remember silver is one of the most supressed assets and does have a very important and bright future. Maybe work to get some gains and buy back ASAP.
Yeah, that's why I held it for over a decade but my thesis that's been building for years and now seems to be here is digital assets and worlds becoming more important than the physical. So many signs are pointing to what we are seeing right now just being the beginning and it just seems crazy to me to not be all in. I'll probably start to move back into some silver and gold at some point just because I love the stuff but even if it 5x's while I'm out, I don't feel like I'm missing much compared to the opportunities out there in digital ownership.
Posted Using LeoFinance Beta
I continue to accumulate a little silver here and there. I like it more for the "collector's value" than for any sort of investment or safety net. That said, with the world continuing to go more and more digital, it's not stupid to think that future weapons may be aimed at the digital world. If that does become a threat, having a stash of hard, tangible assets isn't the worst idea. So I'll keep slowly stacking things I like while putting most of my real investment money into crypto.
In regards to your new plans, I like pretty much everything you've done. My only advice would be to really focus on building the HIVE bags first. It really is the underlying tech behind everything going on here and it won't be ignored forever. There are also potential airdrops coming in the next couple months so it's worth having a good chunk powered up.
I, too, am pretty much all in on crypto. I just wish I would have gotten involved with Splinterlands a little sooner. 150 packs sounds like a dream. :-)
Posted Using LeoFinance Beta
You make some very valid points with threats to the digital world. I just read yet another reddit post of someone who just had their cards cleared out by a hacker and no idea how it happened.
I'm still trying to wrap my mind around hive itself better. What airdrops are you referring to?
And yeah, I'm pretty happy with the 150 packs but it's always good until you're there. Then its, "I should have done what I needed to get to 1000" lol.
3Spk is the first airdrop that should be coming in the next couple months. Hopefully sooner. It will be a little like the SPS airdrop in that it won't drop all at once. I think the idea is to do 12 airdrops over 12 months with monthly snapshots of HivePower and I think liquid HIVE, but don't quote me on the last part.
There is also the potential for an airdrop on HAF (Hive Application Framework). I think that's what the acronym stands for... In a nutshell, it's a collection of tools that will allow devs to build on HIVE without having to do all the coding to talk to the blockchain. I think the idea is that they can code in their preferred language on the HAF will take care of connecting it to HIVE.
I'm no tech expert so these are layman explanations that may or may not be completely accurate. Anyway, suffice it to say that both are major developments on the HIVE blockchain and will add serious value to the ecosystem. Whether the masses take notice or not is another story but....at some point the quality will rise. When that happens, you want to be there.
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Wow. I had no idea all that was going on. I'm going to see what else I can find on it. I think you're right that a big chunk of my concentration should be on building my hive position. I really hope it's all concentrated on hp and not liquid hive. I want those curation rewards lol
I sold my Silver for more crypto, gave the old coins to my kids & most is in games right now! I also like to cheat and see what people are into type their username into this link
https://hivestats.io/@dynamicrypto
Give the old stuff to the kids so you can play the games haha. That's awesome.
That's a great link. I didn't realize for a minutre that you sould scroll way down and see every token asset a person has. You have the SPT stash I'm reaching for right now. Also, I see you have totems. I keep seeing those in the market but I have no idea what they are. Do they do anything?