Friday Finance 12/3/2021: Death and Taxes
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.
Splinterlands (Death)
The other day I had enough credits saved up from brawling that I was able to buy another Gladius Case. I have really started to love the unique brawling cards these cases offer. They can mean the difference between winning a match and getting totally decimated. I have had several occasions where my entire team is wiped out, but my Gladius card single-handedly wins the match. It is awesome!
Imagine my joy then when the other day I pulled this card from the case. It is my first legendary Gladius card and I am so totally excited. Unfortunately, as you know (or maybe not), Gladius cards can not be traded, so while this one holds no financial value, it is still pretty important to me. My hope is that I can start winning more battles, earn more Gladius Cases and maybe one day max level this card.
Speaking of Splinterlands, I've been spending some time lately trying to maximize my SPS for the second round of pack purchases. I don't want to have to buy vouchers, so I want to get my voucher drops happening at a good rate. I have been stashing away as much SPS as I can. I have also been pooling what DEC and Hive I can into the Tribal Dex pool to earn more SPS that way.
Sadly, I am nowhere near some of the people out there who have their sights set on purchasing 4000+ packs, but I am hoping to maybe get 500 if I am lucky. I bought 100 of the XCHAOS tokens on Hive-Engine to get some packs that way too.
Taxes (Taxes)
I remember a long time ago (three years or so), I said something like "if I ever get a big win in crypto, I am more than happy to pay the government their 30% cut or whatever it is". While at the time those words seemed appropriate, now that I am here, the reality of it is much different.
It was really heartbreaking the other day to move five figures from my Coinbase wallet into my bank account knowing that every penny of it was going to go to Uncle Sam for taxes.
I'm not saying there shouldn't be some form of accountability, but it does hurt when you see such a large percentage of your crypto going to someone besides yourself.
I don't really expect this to ever change at least for the time being anyway. It is going to be a necessary evil we have to face when we decide to move our crypto to fiat. Hopefully that move won't be necessary. Though I expect by then they will have found some other way to tax us for our crypto holdings, so it may not matter as much...
PolyCub/IDO2
I'm curious to know what anyone else is doing to get ready for PolyCub and the forthcoming second IDO from Cub Finance. I know the running joke is "soon", but it feels like @khaleelkazi has been kind of quiet in the Leo Discord lately, so that makes me feel like there might be something coming sooner rather than later.
We have been thinking that for a while now though, so....
Who knows!
I have a goal of saving up 1000 CUB to put into IDO 2 whatever it turns out to be. I didn't take part in the first IDO (I am a little glad about that now), so I am excited to see what happens with this second one. More importantly I like the fact that we are going to be able to use just CUB to enter it. Having to buy CakePop was the thing that really turned me off about the last one.
I am also starting to stack up a lot of BLEO to be ready for PolyCub. According to @edicted, that is the smart move right now, so I shifted what I had been doing (more on that in a second), and started moving some funds into BLEO. In fact, last night I took some of my Alien Worlds land owner earnings and swapped into a stack of BLEO with it.
My original thought was to have the funds ready to go over on Polygon, so I had been bridging USDC from BSC over to Polygon. I have a small pool of USDC over on Polygon ready to move into MATIC or whatever when PolyCub actually launches.
So there you have it, Friday Finance! Let me know what you thought of it in the comments. Let's get some discussion going!
Sports Talk Social - @bozz.sports
Posted Using LeoFinance Beta
