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RE: How I made $70000 in 11 Months Using a $300 Pre-Owned Laptop, Steemit and 10SP!

in #steemit8 years ago

I was interested in your goals and also the degree to which you were prepared to go all in on crypto. You have passed your $60,000 goal and I was wondering what you will do now.

Personally I have dollar cost averaged into crypto over the last year by making a small purchase every month. Steem and Ether have both given me the nice to have problem of wondering how far to let this go. I have set a target for 5% of net worth and plan to harvest at that stage into other assets. I continue to buy monthly at the same rate as long as the prices remain below my "buy-up-too price" limits.

Additionally to improve my diversification I am re-balancing slowly in my case from Ether to Bitcoin as Ether has outpaced bitcoin for quite a bit of this year. That's hard because conventional wisdom says let your winners run, hence the slowly re-balancing.

The exception to this is Steem. Rightly or wrongly here I feel like an owner/investor and not simply a speculator. I have no intention of Powering Down anytime soon as I feel like my SP makes a difference and I want to grow it and learn to be a better writer and thinker. Thanks for your post.


Image from KhrisErikson.com

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I think that's a good plan and you seem to know what you want to do already which goes a long way in asset planning. I'm hoping to stay on this path and get to 150K by this time next year basically and then double up from there.

I like doubling :)