Sorting Out My Crypto
I've been readjusting my allocations today. No particular reason, just had the thought and the spare time simultaneously. I've been preparing also for Binance closing off to US customers in a few days, September 12. Anything I can only trade on an exchange I don't want to use in the absence of Binance, I'm selling for BTC then depositing the BTC into one of my accounts that pays me BTC interest.
Part of the desire to go ahead and do this now is also unrelated to Binance's timing. I simply want my crypto earning me more crypto, and that wasn't happening with the coins I sold. I kept any I have staked, even if I'll need to find someplace to sell them someday. Since I intend to hold all of those for quite some time, I'm betting on their having support on more exchanges by then. I'm also prepared to completely lose any of the money invested in those coins. They make up not even 5% of my crypto portfolio in their entirety.
USA, sigh
The other reason to go ahead and make changes now is locking in tax losses. Yes, I do file, and it has benefited me financially to do so, despite being a major inconvenience. I got a lot of deductions I'll be able to use to offset future gains when I was buying altcoins in a falling market relative to USD, but it definitely changes the way I invest. I have a sense that dealing with tax implications makes me a less effective investor.
The issue that caused me to pull the trigger today is long-term vs short-term losses/gains. It turns out you have to match how you offset those. I finally crossed the threshold into longterm gains on the coins I sold today, which is the main pool of future gains I want to offset. I don't do much short-term trading, but have a lot of those losses already logged (from the altcoin buying).
Tricky how these laws are written. Thankfully I hire tax accountants to advise me as I go, then file my taxes for me when it's time. But it's still a lot for me to keep track of and try to make good decisions around. Those of you not in the US or dealing with similar laws on even your trades that don't go in and out of fiat, wow are you fortunate in how free you are with your trading.
STEEM
My current STEEM holdings are going to be long-term holdings. I powered down some and otherwise invested it over the last month, and am now positioned as I intend to be. Hopefully STEEM will eventually go back up to $2 and I'll pretty much break even on what I invested. If not, at this point I only have about $1,000 in value riding, so we'll see what we see.
I am definitely writing less recently and don't see that changing anytime soon. I'm much more focused offline. I'm glad the curation rewards are now higher, since I've joined curation trails for the content I like most (Curie, TSU). I'm on the lookout for others to join too.
Have you noticed recently that when you go to upvote comments on your posts, the payout amount shown for the percentage you select is wrong?
I've been having a hard time getting people above the dust threshold without wiping out my account, even though supposedly I'm a "Dolphin." I used to be able to give out .02 upvotes easily, but now it will say that my 25-30% upvote is giving that amount, but when I look later on a different platform I see I only gave .01, which is dust. I then have to undo that vote and double it just to be absolutely sure I gave them anything. So I'm using 50% voting power on each comment!
Thankfully I'm not posting every day, so there aren't that many comments to keep up with. But it's so confusing.
Why is the amount different across different platforms, and how do I know which is correct?
In Summary
One of my focuses these days has been introducing more poor people to crypto and ways they can earn it instead of buying, while also encouraging them to buy in micro amounts on a regular schedule, taking a specific thing out of their budgets so that they can. I am co-leading a Meetup soon towards that end and also have been inviting friends on social media to open accounts and start with small dollar cost averaging commitments. Most of those people aren't exactly poor, but they care about people who are and donate to causes that help the poor, so I see enriching them as a part of extending wealth to more people during the changing times to come.
I've also been really focused on increasing my own stake without putting more dollars in. I'm really fully invested for portfolio allocation between crypto and other assets, but who doesn't want more crypto?
So I'm using the same apps I'm recommending to others. If you missed my previous posts on this, definitely go back and check out at least the first from a couple months back on ways to earn free crypto.
And You?
What have you decided recently about what you're doing with your portfolio?
Where's your focus these days?
