Low risk bottom buying.
I do more reading and voting than posting. Well, I make comments when you grab my attention, but other that that, I only tend to post when I make a move. I am not bottom fishing full throttle today, just changing the amount of one asset I hold.
I have been holding out on buying the dip, waiting for this thirty two to thirty five thousand bitcoin range to choose a direction. As I wrote in my last post, I am seeing indicators that the crypto market is set to fly as more countries head into complete collapse. There is no doubt that I will buy, but choosing the time and token is the question.
Choosing to buy using crypto or USDT is another big consideration. Exposing myself to a gateway with cash is a third option, but I rarely take that road.
I have been drooling over several old positions that will certainly buy soon, lowering my cost averages, thus increasing my profits. I need to wait until the valley is defined. Tether will be the way to enter those positions when I am ready.
Today, I am starting small. I call it *low risk because I am spending a small amount. I am doubling down on the position I already have while it is one twentieth of where I bought the bulk of it.
Library Credits (LBC) are going for two and a half cents each right now.
They are down due to the entire market having fallen and also because they are under attack from the SEC, ie; blood in the streets level. Of all the coins that I am watching to get into, LBC is where I am starting.
Entry: $0.18, high $0.30, rebuy, $0.024
The platform is doing well. They still have a node type app (Lbry), which is a wallet. They recently rebranded to Odysee for people on browsers and rolled out live streaming. They are growing and all the videos on the blockchain play very well. If I want to save a video, I need only copy the link to my node and play it - it will always be there and serve that video forever.
I am about half done with my buying for today. Here are some of the buys I made along with historical buys from this past April.
I am not concerned about LBC dipping. I am mostly concerned about doubling my stake in it to lower my cost average. The tech is solid.
If you are planning to grab some, be aware that the company is exposed and may likely be hammered by the Feds. They are asking people to help save all crypto if you want to sign a petition to stop the SEC from classifying all crypto as "Securities". This is a problem for Odysee (lbry), but crypto does not need saving.
One of the main benefits of crypto is that the government has no one point of failure to attack. If Satoshi had opened a company and a website, we would not be HODLing today. The mistake that many companies make is that they want to have an office address and a CEO - then they learn these other lessons the hard way.
Never trust your rulers, especially when you compete with their coinage.
Videos on Odysee can never be deleted or taken down, but having this one flaw in their infrastructure makes the company vulnerable. I am fully prepared to hold LBC through the storm and see if the blockchain will survive Uncle Sam's hammer, please do not follow me into this token if you cannot stand to lose.
Another tip: Hold your own keys so you don't look like a nail*.
When they banned liquor, it went underground. I hope they ban Bitcoin. People will just want it all the more.
Posted Using LeoFinance Beta