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Financial Goals 2021 - 10x again?

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@whatamidoing
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Financial goals are a funny thing for me. I spent so many years trying not to adhere to so many rules and norms, I even tried to live without money for 3 or 4 years. I never got to 0 but I managed to live a pretty fun and exciting life, contributed a lot to the people around me and learned how to trust people, finding that some of the people with the least are the most willing to help someone out, especially when you are eager to be a proactive member of a community.

My 2018 and 2019 in terms of wealth

In 2018 I decided to get back in the game and fix my negative relationship with money. I can talk more about that relationship and fixing it another time, but in short I decided that if money is just an imaginary number used to arbitrarily measure value, there was no reason I couldn’t earn it easily and feel good about it, and enjoy the perks that come along with having it in society. There is a lot wrong with society but if I want to help it evolve and improve, I can do a lot more by facing up to it instead of running away from it.

My first year back in the game ended with just 2-3 months rent in my bank account, a small dolphin sized hive account and a barely-4-digit crypto portfolio I built up when Steem and sbd both broke $5 and I was earning 3-5 sbd a day.

In 2019 I 10x’ed all that. I scaled back my work hours to be part time and built up my freelance work which paid much better so I could save more. The pandemic allowed me to get a nice stimulus from the govt while I kept pushing to find freelance work and I ended up saving a little money this year while a lot of people I knew were cutting into their savings.

I discovered I had an old fund from my grandmother that she gave me when I was a baby. It was not big by any means, not enough to survive for a year in Tokyo but I was working hard to make sure my bank account wasn’t shrinking and so I invested 60% into bitcoin and Hive and 40% into Square stock. Bitcoin was 6000 USD.

I’m up 45% on Square....Bitcoin is almost 5x from where I bought it though. I’m also an orca at Hive now, thanks to a few tenths of bitcoin that I bought for dirt cheap. And so between these investments, and not going into my tiny savings at all, my “net worth” is 10x higher than last year.

2021 - 10x again....

The coolest thing about the number 10 is that you just add a zero to one. It’s easy to conceptualize the difference. So to 100x in 2 years. Is that even possible? Well I started out small like a tiny altcoin on the 15th page of coingecko, so why not?

Here are some more specific goals

To save 50k without dipping into crypto.

This will be a very difficult task but it’s the amount I need to start a business in Japan. 50k in the bank to prove I’m not a liability as a foreigner.
Actually I’ll need about 60-70k to start when you factor in that I need a lawyer and an office space that will cost at least 1k a month. I’ll let myself dip into crypto for the extra expenses if I can manage the 50k somehow.

I’m a far way away from having 50k readily available and I may be able to rely on crypto if it really takes off but I don’t intend on powering down Hive and only intend on selling 25% of my bitcoin max, and only when bitcoin is above at least 50k, preferably higher.

I also want to be able to do this without relying on crypto. It’s kind of my way of facing my deepest insecurities that I’m not capable of functioning in society. Of course I am capable but I want to really know that down to my core so I can start building more bridges in and out of the system for people like myself.

Altcoin flips

I’m starting to take profits on my BTC slowly, much more if we get above 60,80 or 100k. I don’t intend to turn that money back into fiat though, I’m going to get into altcoins and try and make some profits to double my BTC. If I can get a 25% gain on my BTC it’ll be good enough, I’ll be very happy with that, it will mean that I can cash out a tiny bit later and still have the same amount of BTC I have now. That’s what altcoins are for, for the most part.

Diversify

I hope to keep 50-60% of everything in crypto (aside from my future business), but I would like to start diversifying into other things. I don’t really understand most assets right now (hope to learn more from Leo!) but I know stocks and gold so I’ll start with them.

As far as stocks go, I like those “high risk” to old people “medium risk” for young people investments. Think Tesla. Most young people could see their rise coming while old people probably thought “no way they can beat all the other auto industry giants”. Think Bitcoin. That’s why I like Square. I want to find another stock or two like Square, something I know a bit about that looks ready to really break away and innovate.

I also want to find a chance to buy Tesla at a dip even though it’s so high just because I think it could break all kinds of records. I don’t LOVE Musk but he’s clearly willing to push boundaries. I bet Tesla buys BTC just to laugh at Bezos when he does laps around him in a year, just to say “Meh, a trillion.” Tesla is to me what those “safe” old legacy companies are to Boomers.

I’ll buy a little bit of gold/silver and start learning more about other assets and markets too.

I doubt stock or gold will grow even close to as much as Bitcoin will, but I feel my eggs are in too few baskets right now, I’m almost entirely in Bitcoin and Hive and as much as I believe in them, I don’t think it’s wise not to diversify.

Real Estate

While it’s something that always felt too far away to think about, this year will be the year I start looking to buy a house. It’s still early, but when next year turns into 2017 all over again, I’ll be ready. Not going to liquidate my bitcoin, always plan on holding as much bitcoin as I’m holding now but hopefully playing with the altcoins will give me the extra BTC to feel more comfortable planning this, and my business will mean I have some extra income to put into something, I’d love to put it into a house, perhaps in early 2022. That’s something I never imagined being able to do before this year!

Hive...HIVE!

I went from around 8k to 70k in a year thanks to that old grandma money I found, my tiny bitcoin investment doing 5x, and the steem split which left me with double the coins. Not bad, I’d say.

I’m happy to keep growing at Hive but I’ll set my bar at 100k Hive account. That’ll mean I grow much less this year but I have other plans

The first is to become an orca or whale in a lot of these Hive tokens. I’m already holding lots of LOTUS, Bro and WEED Miner, and SIM. I hope to 3-5x my holdings in those and get deep into other tokens and support others with my stake. Looking at STEM, Actfit and plan on researching others.

And looking to get into Leo a little more. I’m so inspired by how this community pulled off being the first dApp to really build momentum and I want to try and bring the lessons to other communities so we can build a well rounded ecosystem. I was slow to get into Leo because it just had too much hype for a few months, and as well deserved as that was, I don’t like jumping into things that are already on fire. But I suppose Leo can be like my future Tesla investment, just because it’s going to keep performing, might as well own some more.

My main goal at Hive this year will be onboarding friends and building up Cross Culture.

Hive Prediction for 2021

I really liked the comparison than @marki99 made between Hive 2020 and Steem 2016. We seem to be following bitcoin in the same fashion and according to that trend we should be seeing a 2x or before Spring and then a parabolic run through the summer and fall sometime.

I should warn you here that I like to make conservative estimates. If I think 100x is fairly possible, I’ll usually say “it’ll probably 10x”. I don’t want to go nuts.

I know people don’t like to hear it but I am skeptical about our ability to get to $2, $5 or $10 Hive this year. It’s not impossible but there is so much more liquid Hive now than there was Steem in 2016 or 2017 and fewer users. But that doesn’t mean I’m Bearish! I think we will get back near or perhaps above $1 this year. Let’s say $0.80 USD, though that depends on bitcoin and what other projects are built and who joins Hive. I think Bitcoin will probably settle below $100k after breaking it, so going off that Hive doing the same with $1 seems realistic and not bad at all.

I think 3speak and Leo will be pushing a lot of that growth, doing a lot of the necessary onboarding and PR, but Hive itself will be growing on its own too.

I do think 2022 could be the year Hive really blows everyone’s mind though, once 3speak is up and running in its new form and our user base stabilizes much higher than it is now.

Leo

As for Leo I expect it to lead Hive and staying around 2x the price of Hive. I don’t know much about how wLeo or other developments will affect the price but with my limited knowledge that seems like a safe bet. So let’s say $1.50.

In any case I do hope to learn more and get more involved.

In summary

  • BTC and Hive are my main investments. Not cashing out.

  • Hope to start a company this year so I will work hard to earn cash

  • plan to diversify, first into stocks and gold/silver

  • hope to save up to buy a house next year once my business is up and running.

🌎🌎🌎🌎🌎🌎🌎🌎🌎🌎🌎🌎🌎

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