Time to sort the crypto groups buys i hosted 3 years back 🤑💰🚀 remember?

Hello folks, it's not very often I write from this account as I produce content for a few projects im involved with. Normally I can write whatever I like but today I have to write about the crypto group buys I used to do and this post has to come from my personal account.

Did you take part in any? think, think

For those that will remember me from before I launched @spinvest, you'll remember I was a daily poster for the #steemsilvergold community. I used to do a lot fo group buys are silver and cryptos. All the silver is delivered but I still hold a lot of crypto belonging to other people from those group buys. Im sure many of you will have forgotten about these and some people that were involved might not even be on blockchain anymore. Never the less, the plan was not to hold these crypto's forever, it was always to hold them until eh next bullrun which I think we are in right now and then distribute them to the people that took part in the groups buys. The original plan was to convert everything back to STEEM and distribute but i dont think that will work anymore, lol.

To get to the point, over the next few weeks, I will be going through old excel sheets and posts to make a list of all the group buys I hosted and what is owed to who. I would guess I did over 15 groups buys, a lot of them being shitcoins that are worth zero and we did more than 3-4 smartcash group buys as well.

To found this old post from 2 years back last week after ADA started to moon. Weirdly enough it was posted exactly 2 years ago when i came across it again. We can see from the title i was starting up group buys again to sell in 2-3 years.

I was pushing hard to us to invest in top 10 ranked crypto's because we could buy into the best projects on sale at the time but people still wanted to invest in magic beans and I got bored and stopped hosting these as I knew we were all just throwing money away and seen it as ethically wrong to encourarge shit investing. At the time user numbers on steemit were dropping massively because of the bear market. In the last few cryptos buys, I only offered top 10 cryptos in the voting options and we were lucky to get 2 done with group buys for ADA and NEO before users numbers had dropped to the point that there was no point to host these any longer. 100 STEEM at $2-3 is worth a lot more than 100 STEEM at $0.50 and people stopped taking part as it required too much of their STEEM to make it worthwhile.

Just to show, here is what we bought our ADA for back then So 2 years ago it cost 6.9 STEEM to buy 50 ADA. This was when ADA was priced at 4.5 cent and STEEM at 33 cents. Here is a list of the lucky people that took part.

Ahh, the old crew. A lot of good people on this list above and hardcore silver stackers. Most bought in for 1000 ADA costing them $45 are 138 STEEM at the time. Looking at today prices we can see.....

BOOM shack a laka!! they are worth $945 or.....

3889 HIVE. So that is a 21x ROI in terms of dollars and 28x ROI on terms of HIVE if you were to convert your ADA back into HIVE.

Unfortunately, this is the best performer we've had and i have already forwarded the ADA to everyone except @knowledge-seeker who seems to have gone dark. Hit me up bro, i've got $50 with your name on it :)

Whats next?

I have looked roughly over the rest. We have some NEO and smartcash. The rest are pretty worthless. Remember bitcoin silver? CMD?, bitshares?, DIG? Po.et and the rest i cant even remember off the top of my head. We tried master nodes mining with a few others but all those failed after a few months and never recovered.

Neo is easy to reallocate. There's not that many, only around 30 but still worth more than nothing and then there is the smartcash. My arch enemy and its god damned desktop wallet. I ran the smart node for around 1 year until the server costs were more than the rewards. Since then we have been earning staking rewards as they sit in the smartnode wallet. Problem is everytime you open this sort of wallet, it has to sync with the blockchain to be up to date. This process takes hours if you have not logged into the wallet for some time. Then we factor in that not many peers are running smartnodes because they cost more to run that they reward. The reult is very slow resyncing times, freezing, auto shutting down of the wallet and whatever else can go wrong. It takes around 2 days to sync the blockchain and when it gets to 98% and just stops, it's annoying.

I have downloaded the latest wallet version which of course requires a full blockchain sync as its a fresh wallet, haha. and im on my 4th attempt. I am lucky I bought a new PC since then so I can let it run and sync without slowing down the PC im using every day. Once the wallet has 100% synced to the blockchain if ever, the very first thing I will do is transfer all the smartcash to an exchange and the very second thing I will do is delete that godforsaken wallet from my PC.

So if my memory is correct. Smartnodes used to require 10k smartcash. We had 8-9 of these smartnodes. Then because the price of smartcash dropped so much they increased the required amount to 100k smartcash to run a smart node. We had 98k smartcash at the time and bought another 2000 to run one of these. We ran it until it was not profitable and have since then collected staking rewards. One time when the wallet had synced to 98% before crashing, i sen that we had 133k in there. Todays that's worth..... We are still way down on our initial investment knowing i personally put over £2000 into this but this was only worth $400 a few weeks back and more than $1000 today. As soon as i get into the wallet, i'll empty it asap. Right now on attempt #4, the wallet is 2 years and 24 weeks behind. That's 8.66% complete and its been syncing for around 18 hours. It is very annoying and trying my patience to be honest. I just need to transfer the funds out but the wallet has to be 100 up to date with blockchain to work properly.

Round up

So this is just a heads up to those that were involved in those crypto buys in hosted 3 years back, i'll be gathering up all the info, seeing what everything is worth and distributing anything of value out to the people that took part.

Posted Using LeoFinance ^Beta