Grinding into pHBD/USDC

in #hive-1679223 years ago

The market over the last couple of months has hit my portfolio hard. I've gone very rapidly from being quite comfortable at the end of January, (when I had to leave my fiat job) to really quite uncomfortable now.

In addition to the prices of most of my holdings dropping significantly, I have also had to sell significant capital to pay the bills and keep afloat. My plan was that the income being generated would cover my families cost of living, and I could preserve my base capital, but that has proven to not be the case.

It feels like 4 years of building up and growing my crypto base has been all but wiped out in 4 month. Having a big chunk obliterated by the LUNA/UST debacle has not helped either.

But the show must go on, and my game plan now is to consolidate what is left in safer assets, with a big stake in a moon bag.

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Shifting to POLYCUB.

Slowly, my plan is to build up my position in the pHBD/USDC farm on Polycub. For far too long, chasing big gains has been my preferred path, but much of that activity has resulted in "REKTage".

So, a steady accumulation into this pool will be a good defensive hedge to stem the rapid decline in my portfolio.

Why pHBD/USDC?

  • USDC is likely the safest stable coin.
  • HBD works ok, and I sort of understand it.
  • I trust the Leofinance team.

Whenever there is a bridge, there is risk. But over the years, one thing I have come to trust is that Khal and the Leo team have our best interests at heart. They are not going to rug us, that is for sure. And if there is an exploit of the bridge somehow, they will do everything possible to make us whole again, as proven way back when the initial wLEO situation happened.

Of everything I have come across in crypto, the Leo team is the one I trust the most.

So, to build a defensive position, and grow it during this bear market, this pool seems to be the best option for me. The main downside in my mind is that I have always been unimpressed by USD stables. Not so much the systemic risk (although I should have been more careful with UST) more so that I'm not much of a fan of fiat in general. Pegging to USD when I think it is little more than a state backed shitcoin seems foolish. But, being in Australia, I feel that if the USD collapses, then the AUD will do even worse, so overall it might work out ok.

Provide Liquidity Week.

The @leogrowth account is running a nice initiative with the Provide Liquidity Week. This is a nice little extra incentive to start, or add to positions this week. Check the post out to see what is required to be involved, but its pretty straightforward.

5 * $100 prizes up for grabs, so its definitely worth a look.


Sorry for the rambling mess of a post. Trying to push through will not feeling great about the world.

The other thing I have to do soon is start looking for a new fiat job. Seems the market has decided it was not time for me to go full time crypto.

Thanks for reading, sorry the post is crap.

Cheers,

JK.

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Please reconsider voting for earn.hive witness, that's not how you should choose your block producers that secure the chain...


The rewards earned on this comment will go directly to the people(@jk6276) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

Diversify in crypto. All my stables were in ust so indeed I feel your crypto pain. Phbd definitely looks good.

Yeah, I think we all learned a bit of a lesson these last few weeks.

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Hold on JK .... the weel will turn around eventually

Hey Dalz, thanks for the encouragement. I just hope I still have some bags left to carry into the turn around.

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I’m so sorry man, hold on tight, we are all in this together. My portfolio has tanked, just grateful I was able to pay my rent before the crypto price crash. You can rant all you want, I am going to read it. I am so sorry for how you feel. I hope the next Bull run comes sooner because, this bear market is affecting really seriously.

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Thanks for the encouragement mate. Learned a lot about crypto from the last bear market. However this was my first bull market, and I've picked up heaps that I should have done differently.

Regroup and pick up the pieces.

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Exactly! This is the never say die spirit right here and trust me it’s all the motivation you need in these weary moments.

This was my first bull too.

Stay afloat

Thanks, and sorry for the irrelevant comment, read the post now, hope things take a turn here soon and newbs stop selling into these prices.

Thanks for the encouragement, its much appreciated.

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I bet this is your best shot as you have to get yourself covered while the market recovers when it would.

Just gotta stay afloat and keep some bags to be in position to benefit once the market recovers.

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Like all investing - this is a long road - just have to look at my posts - 604 investing posts written. This is where the value is. Keep writing. In time you will inspire someone.

Thanks for your kind encouragement, much appreciated.

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For sure, the market will turn in time. Relying on crypto when things are going bad is indeed stressful.

Hopefully, the wheel turns sooner rather than later.

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I like the HBD-USDC pool too, not that much better APy than just hodling HBD though and a probably more risk for different reasons. I think the 20% Marketcap of Hive for HBD rule makes it easier to keep HBD stable.

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Yeah, HBD is definitely an underrated option. I'm planning to build in the pool, and then use the Polycub earnings to build into the pHIVE/POLYCUB pool.

Saving on-chain HBD is a great option also.

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Looks like we have chosen the same path, from Terra's rubbles on Cosmos to PolyCub's stablecoin farm.

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Ayeee! Hold on tight JK. This was my first bull too, I certainly could have done better, but we live and learn. I appreciate you for sharing your thoughts. We will get over this.

I love USDC-pHBD pool but its multiplier got reduced in recent governance voting. Hopefully multiplier can swing back as more people get into the pool.

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Just do what you've gotta do to keep your head above water.

You'll get through it!

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Thanks mate, I appreciate the encouragement.

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I am not trusting stables much specifically algo backed one.

To be honest, I will not be going to put or build any kind of major chunk outside the HBD.

I wish that market recover fast, more it remain down, more the selling pressure and more time to recover.

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Boy can I relate to going from comfortable to uncomfortable in a hurry.

On top of the crypto disaster my husband's cancer has returned along with new rounds of chemo, expenses and his need to take time off. *not to mention fear of the treatment and potentially death Ugh!

I'd been feeling okay that if we needed to survive on my bags, we'd be able to do so without wiping out the reserves, but taking anything out right now is so painful.

Anyway, we will figure it out and likely so will you.

Take care and best of luck on your new plans.

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Time would heal itself well taking effect.
Hope everything goes fine for you and your household.

Wish your husband gets a speedy recovery. Crypto bear shall pass...

Thank you

.

I am so sorry about your husband, I wish him quick recovery, been willing to ask you about your husband’s health since the last time you tweeted about it. Health is something that when it’s attention is needed everything is set aside to focus on it. I hope he gets better soon. My regards.

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That's so kind of you, and we appreciate any well wishes.

He's really strong and holding up well so far!

Was just hoping to be done with this journey.

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I am really hopeful for you and your family. Glad he is strong. You have a good day and a blessed day.

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Thanks WU. Real life health concerns put some financial worries into perspective. I certainly wish your family all the best and hope things turn out well for your husband.

Selling at the moment hurts, for sure. I thought my plan was solid to sell the income (or some of the income) and preserve capital. Then returns all went down, some capital disappeared altogether, and things just unraveled.

Will spend the weekend working out a new plan, and likely start looking for a job next week.

Again, best wishes to your husband for a speedy recovery.

Take care @whatsup.

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Thank you for the well wishes, it means a lot.

I think it was shocking how quickly things dumped and once you get a number in your head.. (I have this much in crypto) it's kind of hard to watch it go.

Hoping your plan comes together and we both find ways to relax into the new crypto season!

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This was heartfelt and sorry to hear you were caught up in the sinking of the Luna system. Hopefully you get an airdrop from Luna 2.0 that helps.

I agree that putting a big piece of your capitol into stablecoin pairs is a great idea for the beginning of a bull market, and as an investment strategy in general.

I also feel Khal and team are one of the safest teams to work with right now.

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I was able to avoid the UST/LUNA fiasco and I learned quite a bit from it because of everyone writing about their experiences. With the chain providing 20% for just depositing HBD, I feel safe with HBD and I know USDC is preferable over USDT. We all know that Tether still has that lawsuit. I guess you can always pull out funds right away but the early harvest penalty puts me off from investing there.

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Yeah, I've come to terms with the error of having had LUNA and UST. I was never really into the Terra eco-system, but had them in pools on Osmosis. Bonded for 2 weeks, so we became everyone else's exit liquidity.

As much as I dislike the trend of crypto being taken over by compliance and govt regulation, USDC is probably the safest option.

I'm learning patience, so sitting out the 30 day harvest time for Polycub rewards is part of that process for me.

Thanks for your thoughts my friend.

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Its just part of a learning curve. The worst way to go in crypto is to react to it, like if its tanking do not pull out you just will learn that when things are going great thats the signal to do the hard thing and pull out. The biggest problem then is sitting on your hands. Always remember you dont need to get rich quickly. The market will present opportunities nearly every single day so there is no rush at all. The market will hand it to you if your patient and keep your powder dry either in fiat or in bitcoin. The problem now is its going to be a fire sale and everyone is skint and gone all in already.

Thank you for the wisdom. Reviewing the last couple of years, I can see my biggest mistake was not taking profits along the way. As you say, its a fire sale now, and there is no dry powder to bargain hunt.

No matter, the lessons have been learned, and when the recovery kicks in, I'll be better prepared.

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My situation is just like yours and instead of me selling my portfolio to pay for my bills, I bought enough hbd and earn some returns in savings every month. You will get through this

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I totally failed to position myself into stable's in time. And the one that I did have collapsed in a heap.

HBD savings would have been a much better idea, but we live and learn.

Back to the grind for a while.

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It looks as a good plan. Crypto ambience is very faster changing. I am feeling the same. Suddenly, I feel i want to sell the little amounts I am keeping in different stakings, but I am doing my best to wait till some changes in coming weeks. Otherwise I can also try to use a little amount of cash to profit the falling... risky but it could be a good moment. Anyway, I expend worse moments on 2018.
Well, I will explore your plan, maybe it's a good idea to move some amount over there.
Let's see how we survive this turbulence!

Thanks for your comments. Market is rough at the moment, and doesn't look like turning around any time soon.

I feel like I messed up the bull run completely, and now need to re-do my plan all over again.

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I know that feeling!! So faster changes!

Your post isn't a crap :) You are voicing out a sentiment which I think resonates to most of us in crypto but yes, the show must go on and we are going to weather this crypto winter out.

The pHBD-USDC is also a pool I am into and looking to add a bit to it before the month ends.

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