Friday Finance 11/5/2021
It is time again for another Finance Friday/Friday Finance. 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.
I was travelling most of the day last Friday so I didn't get to put one of these posts out. I am sure all two of my active followers really missed it! :)
It has really been another crazy week in crypto. This is starting to feel like the rule rather than the exception. I guess that is what happens when you are in a bull run. At times, it seems like my life is wholly consumed by this whole blockchain thing, but it is interesting, exciting, and painful all at the same time, so can you really blame me?
I've got a couple of things lined up for this week and then if I managed to come up with a third on the fly I will put that down into letters as well.
AVA (Travala)
Travala is one of my biggest crypto regrets. I had seen people talking about it as early as a year ago, but I either didn't have the funds to invest or I just didn't pay enough attention. When I did end up buying, I think I picked most of my tokens up above the $5 mark. Now, AVA is sitting at $3.05 and you might be thinking I am crying over the loss.
Not so.
The cool thing about AVA is you can stake it and earn rewards for it. That means even though I paid more than it is worth now, I am still earning on it. I am okay with that. Plus, given the use case for the token, I think it is way undervalued at $3 or even $5 per token.
There is another reason why I really like AVA too:
It is one of the first tokens that give people an easy way to actually do something with their crypto besides just holding it.
I have an online friend who was recently trying to move some funds out into fiat. He was complaining about the huge fees that Coinbase and other exchanges were charging for him to accomplish that feat. I know those fees very well as I had to pay some of them this past May.
That got me thinking about Travala and how I can book flights, hotels, vacations with the AVA token. If I move my funds into AVA, I can then use that crypto to do real world things without having to pay the fees to move it into fiat.
Awesome right?! I am in the process of moving some more of my funds that are just sitting in non interest bearing tokens over to AVA. It is a bit of a process no that I don't have access to Binance anymore, but it looks like I can purchase AVA with Kucoin, so I am going to try that.
If you travel and you live in a place where it is difficult (or expensive) to move crypto into fiat (if you must), then AVA is a no brainer in my opinion.
OCD
In case you missed it, the @ocd community put out an announcement earlier this week that may or may not impact how you post. I wrote a post a while ago about how I feel that @ocd is basically the new Curie. I see many more people getting upvotes from OCD as part of their community incubation program than I do Curie. I know Curie is still around and I think they do a great job, but in terms of supporting new accounts and quality content, I think OCD reigns supreme now.
That's why it is so important to understand the changes they are making to the way they vote. Due to their main focus being on community incubation, it only makes sense that they want to encourage people to post using the appropriate community tags.
Moving forward anyone who posts directly into the OCD community will be subject to a beneficiary percentage going to their poshtoken project. Either way, the communities are going to benefit from this, but if you are the kind of person that enjoys maximizing their earnings, you really need to make sure you are posting your community specific content in the appropriate place. You are only shooting yourself in the foot if you don't.
@acidyo actually wrote a really great post explaining all of this and you can check it out here.
Lots of other exciting stuff relating to the POSH token as well. Make sure you give it a read.
If you are the type of person to likes to post about a variety of different things, it is important to pay attention to what communities OCD is supporting. Unless you don't care about earning for your posts, but if that is the case then why are you here? Besides @steevc that is. I know he isn't here for the money :).
Also, if you are thinking about starting your own community, make sure you hook up with the folks at OCD. It sounds like they are just itching to find new communities to support and incubate.
Alright, this got pretty long so I am going to scratch trying to figure out a third topic to cover. Check back next week for more financial news, thoughts, and tidbits. As always this is not financial advice and do your own research.
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