Friday Finance 9/24/2021



It is time again for another Finance Friday. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.

CUB Upgrade

Unless you have been living under a rock (which apparently some people have), you probably know that some(all?) of the CUB farms were upgraded to V2 a couple of days ago. I noticed that some people are just now getting their migrations done while the fees are eliminated.

A handful of us were ahead of the game and we pulled our liquidity out of the V1 platform before the V2 one was live. It meant we missed out on a fraction of CUB (depending on your stake), but it also meant we got some sweet interest rates for a short time on the V2 Farms.

Adding V2 liquidity wasn't available yet on CUB natively, so I had to jump over to PancakeSwap and add it there. Being ahead of the game paid off because for a short amount of time (less than a minute), I was pulling in 75,000% interest on my stake.

Like I said, it was very short lived, as I quickly watched that 75K percent drop down to 6000% and after a couple more drops it eventually landed right around the 123% interest rate that we are currently sitting at.

It was fun while it lasted, and I think I snagged an extra seven CUB or so in the short time the rates were high. I am feeling pretty good about that...

Taking a long look at HBD

I've been kicking around something a little crazy lately... I mentioned before that I recently made a pretty good move by investing early in the Nine Chronicles game. That has given me a decent holding sitting over in my ETH wallet for the first time in basically forever.

In the past I was planning on taking gains like that and moving them into stable coins so I could wait for the opportune time to either buy something else or cash them out.

I posted a question in the Leo Market Talk thread a couple days ago asking how others were feeling about stable coins given the rhetoric coming from government lately about targeting them for regulation. Many people brought up a good point about HBD being a better alternative since it is a decentralized stable coin.

I started thinking about that and the potential interest I could earn at 10% if I were to go all in and buy five figures worth and put it all in savings.

It seems like a bit of a no brainer, but I am honestly still on the fence. First off, things seem pretty down the past week so I kind of want to see if my holdings on the ETH side can appreciate a little before I move anything. All it should take is a quick burst by ETH up to the $3800 range again.

The other thing is, I am not sure there is an exchange that has the liquidity to handle a HBD buy of that volume. At least not all at once. I could be totally wrong though, I honestly haven't checked.

Fraud Alert!

Finally, I've got a bit of a funny one for you on this Friday. I mentioned before that my old bank is getting bought by a bigger bank. I don't really like the "feel" of that, so my wife and I made the decision to move all of our finances to one of our local credit unions.

Over the past couple of weeks I have been working to set up accounts, auto-pays, and transfer funds so that I can ultimately shut down the accounts at the other bank.

I submitted an electronic transfer from one bank to the other for a moderate sum of money the other day and I was immediately receiving a phone call.

It was a customer care person from the credit union. She told me that she noticed there was a large amount of activity in my account suddenly and she wanted to make sure it was all legit. I explained to her that we were moving all of our business to their bank so most likely yes it was legit.

She started to go through the list...

Her: "This $1000 transfer that was just made, was that you?"

Me: "Yes that was me"

Her: "okay, I noticed there were some withdraws on the account to Coinbase, is that correct"

Me: "Yes, that was me, that is correct"

Her: "Okay, well I just wanted to make sure you know because a lot of times charges from Coinbase are people committing fraud or their account has been compromised."

I honestly had to keep myself from laughing. I also had to keep myself from going on an hour long lecture about how misguided that thinking is. About the merits and pitfalls of KYC and all other manner of facts I have gathered over the years to dispel FUD.

One of my biggest fears about moving banks was that a local credit union would be "out of the loop" and not allow me to do anything with crypto. Thankfully, they seem okay with it and if the worst thing I have to deal with is them calling to make sure it is actually me making the buys, then I am okay with that.

I expect one day, questions like that probably won't even get asked. Either that or people won't be going back and forth between fiat and crypto anyway, so it will be a moot point.

There you go, another week of random financial thoughts and stories from me. Have an awesome weekend everyone!


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HBD is a very good option. I think it is still below the $1 which means that it is a buy. Can get a few extra percent when it returns to a dollar as well as the interest.

The think about the internal exchange, can break up the purchases since there are no transaction fees. Plus, you can hold it in Hive if you want to wait a couple days. That said, I never had a problem on the internal exchange with liquidity. Granted I didnt try to move tens of thousands of dollars worth of Hive either.

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Thanks for the advice! That is a great point. Chances are by the time I am ready to make the move it will have risen along with the rest of the market that prompted my move. The 10% will always be a benefit though!

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