Plan to get 1 Bitcoin in 7 weeks - Let's do this

in hive-167922 •  2 months ago 

Hello and welcome to this SPinvest post
SPinvest is a tokenized investment fund/club for all users of social blockchains. Everyone is welcome! The concept of SPinvest is to get rich slowly by using time tested methods of earning, saving and compounding long term. This lets SPinvest offer an ROI of 20% per year on SPI tokens. We encourage long term investing on and off the blockchain. We hope someday everyone will HODL some SPI tokens that can be bought directly from @spinvest are through the steem-engine are dex.steemleo exchanges.

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SPinvest's road to 1 full Bitcoin

Hello everyone, yesterday i released a post expressing the pain of trying to time the Bitcoin market so that we can top up our BTC balance to 1.0. With the feedback from teh comments, i can see this is a problem i am worried about too much and most people are happy to buy BTC at any time so we now have a plan. We can not time the market so the next best thing is dollar-cost averaging.

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We currently hold just over $8000 in tether(USDT) which is earning around $1.70 in interest. It's not much but its provided us with an excellent hedge against the falling price of HIVE and STEEM. I would like to hold that balance there until we have our Bitcoin and suggest that STEEM power-downs are instead converted and held in Bitcoin.

Our STEEM power down arrives every Monday evening for around 6500 STEEM. At today's rates each power-down is worth around 12% of a Bitcoin. We have 7 power-downs left which would payout 84% of a Bitcoin if the prices remain unchanged. If the price of Bitcoin falls against STEEM, we have no problems and would come in under a target. If Bitcoins ratio against STEEM increases, we will be forced to complete our BTC buy with some Tether.

So, would do you think? Spread the cost over the next 7 weeks starting on Monday? If all goes to plan, we could have 1 BTC, $8k of tether to reinvest into other things and 90ish-k of HIVE to boot.

Thank you everyone how left feedback yesterday

I have not replied back to all the comments but i read them all and they helped


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While having the round number of 1 BTC sounds nice, it really means nothing.

Just make sure you're always checking yourself and not making an investment outside your risk parameters for the sake of something that only matters inside our minds.

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The target of 1 BTC is just a target.

I do try to check myself but you understand the rollercoaster. My plans from yesterday seem silly today with new information learnt. The crypto land is amazing with many pitfalls. I invest into the same shares and PM's every week without ever checking the prices but there's something about the crypto market that makes me wanna try and time my buys. Gotta learn to discipline me more. (plus i need to post content every day as well so sometimes my post are rushed)

Thanks for the great comment and advice.

I like it - a plan to increase our BTC holding, while letting you all hang on to the tether. I find it funny that you see tether as a hedge against a fall in hive/btc prices. This investment particularly, and crypto in general, I consider as my hedge against fiat. This plan is a good compromise.

lol, i like the way to write "letting you all hang on to the tether"

Tether as a hedge is sorta funny cause it's never gonna go up but it's working so far :) We've sold around 40k STEEM and could buy back almost 48k STEEM today.

Let's see what BTC we get for 7 power downs!

so i went to the Patreon Page. Is this still active ? or is the account closed ?
I was going to buy some tokens on hive-engine but was also looking at the patreon.

Let me know.

thank you.

Hello, i had actually forgotten about this. I will go and update it now.

Nah, SPinvest cant really use Patreon. SPinvest doesn't offer good enough anything worthy of 4 donations. You will only get them on the HE exchange my friend.

Tjhanks for bringing this to my attention

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no worries. I will buy some on the HE exchange

Sounds like a good plan, but @forexbrokr had also a good point.
Thanks for taking care!

:)

I think it is a good idea to convert the rest of the Steem power down in BTC. Though not with target 1.0 in mind. The round number is only psychologically worth while. When it becomes 0.84 that's good. When it becomes 1.07 that's good as well.

the 1 is just a target. We'll get 7 power downs worth

It’s nice to have a goal. But in the end it matters more what the value of that bitcoin is, when we get it and afterwards. Than if it’s really 1.0 btc or 0.85 btc.

Personally I like Dai a lot better that Tether, but for the moment usd is still the international standard for determining value. If we’re still thinking in fiat terms, then it’s perhaps a hedge. But it certainly won’t grow much.

Perhaps it’s time to value spinvest’s funds, including the tether, in gold. The USDT might not look so safe anymore then.

Yeah, i got what your saying about the 0.85 are 1.0 BTC, it's just a target.

Tether balance is just a holding place for time being as SPinvest power-downs STEEM holdings. I dont see us holding big amount of stable token long term are even ni a few months for that matter.

I like the idea of valuing it in gold. Im a ilver&gold bug peronally. Currently, everything is valued in HIVE but people get confused by this because if the price of the HIVE goes down, the price of the SPinvest token goes up.

Yeah, it’s ok to have the thethers for now. It’s an easy transferable token.