There is blood on the streets.
Always is a good time to make a sound investment.
New Year saw a lot of people posting their 2021 experiences, all full of excitement and undoings and learnings. I rarely document these things, cause I’m an average guy. However, I got inspired by these people to start writing these blog-esque things (yes you). Searching for a niche I could focus on, I landed on something known to you as copy-trading, you know the one where you copy trade your favorite influencer or finfluencer.
My observation was that most of these players are either paid shillers or big bag holders. Paid shillers usually make money from your views, while big bag holders usually have the liberty to speculate. Now, I'm not gonna give your copy trading or investment advice. I'm gonna document my decisions, no matter how stupid or smart they are. This will give you validation on how an average noob or newbie functions (I'll be honest, I’m not a savvy investor, and let’s be honest most of us are not). For me, at the end of 2022, this should give me a summary of how far I have improved, not just financially, but also in writing skills and vocab.
So as Fabrizio Romano says, here we go ….
If you travel 365 back, from the date of publishing, I was a crypto-ignorant person. GME and DOGE hype got me into it. I had around 200 INR, which I put into DOGE thinking “hey if it goes from 0.01 USD to at least 10,000 USD, I’m a millionaire right ?”. So that’s my origin story.
Months of saving pocket money got me to around 300 USD in crypto. Now, I didn’t have a job. I was a fresh postgraduate (jobless) and pocket money experimentation was all I had. It was around this time I came across The Defiant Youtube channel. My first venture into DeFi was Terra’s Anchor Protocol. Get some LUNA, borrow some UST, deposit into savings.
The simplicity and beautiful UI aesthetics were key to my attraction towards it. And I found FlipsideCrypto. They pay you for DeFi analytics and insights, and you get to learn daily about these new protocols and get paid to do that. I entered the Flipside early, so I got to experiment and learn without much pressure. These days, however, what can I say, competition is mad (often against machines and code). Thanks to those folks, I know SQL, HTML, Python, and some basic data analysis skills, and now sit atop of crypto worth 22K as of the bloody market (i mean red everywhere).
So in like 4 months’ time, I went from 300 USD to 20+K USD. DeFi is a place of new opportunities, for those ready to seize it. But it is also a place for attaining Financial Freedom as you earn. Put your assets to work in Protocols like Anchor, Nexus, Yearn, Convex, Olympus and earn good passive income.
Now, my definition of personal Financial Freedom is 650 USD a month right now, which is around 50,000 INR, which in the eyes of my parents is a very solid salary. For achieving this, I will need to have at least 75000 USD worth of assets earning a minimum of 10% APR. This shouldn’t be extremely hard as All the protocols mentioned above promise such double-digit yields on various assets and asset classes.
The problem however is, will I reach that magic number?
Moreover, @punk6529 in their new year tweet thread, mentions how Crypto is highly speculative. Add to that, this warning by Eugenio De Lucchi, it’s a scary time for me to take this risk, but I want to try a full-on onchain.
I want to build my entire portfolio either on or derived from Crypto. My only source of income will be crypto. This implies I don’t see Crypto as a speculative asset but embrace it full-on. This doesn’t mean I am gonna go full-on degen like Kida duh. Stables will make a part of my growing portfolio, albeit a lesser, but healthy percentage. In order to address the Eugenio De Lucchi warning, I will withdraw and allocate 100 Dollars every month to traditional fiat. As I’m good with expenditures, I require only 200 USD or 15,000 INR at max for my monthly expenses. Hence I feel 100 to 150 USD or 7000 to 10,000 INR saved every month in fiat should give me the hedge to handle and also maybe take advantage of such a crash.
Now that you know what my goals and methodology are. If you are similar to me, I will update on a weekly or biweekly basis, my:
flipside income
passive income
new protocols and opportunities I seem to like and the rationale behind it
alpha from newsletters and whatever chat groups I am from
There will be quite a lot of shilling for Flipside and Defiant from the side. Other than that, I don’t think if I will be able to gather a shillable following to attract paid shilling. Either way, I will be looking to publish this in Mirror and link it on Twitter with Arweave tx id, so I can’t modify my own content once I have published it. So if I make a grammatical error, you can laugh at me, with blockchain proof in your hands.
I will see if I can reach at least 25 articles this year. And bon voyage ? or was it au revoir