Monthly Update — Mar 2018
P chill month
I had a pretty chill investing month, and I didn’t do too much. Crypto was down, stocks were down, and taxes are coming up, so I’m holding my money a bit until I find out exactly how much I owe.
One thing I did was experiment with options on Robinhood. I’m starting to get the hang of the numbers, and I’m starting to learn about actual options strategies.
One thing that’s clear: it’s still too much like gambling for me (because I don’t know the ins and outs yet). I did, however, make some high percentage returns (but small dollar amounts) on SNAP put options. Around one trade per week, short term, making good money each time. The current set I’m holding, which is super out of the money, however.
I also bought call options for a much longer position on GE. Just playing around. (GE basically becomes valuable when the price gets this low, and I think people will start buying again. Possibly Buffet, according to rumors, but that might be in the price already.)
Dollar Cost Average BTC and ETH
I’m still buying ETH every week. I think it may have bottomed in the high 300s, but who knows. It’s at $420 now, up from $400 yesterday. I know at some point, things will pick back up, but I’m pretty deflated on the markets and expect it to go back down in the short term.
I actually paused on the BTC buys. I’m not sure why. I bought it down to $7000ish and still thought it was valuable, but I’m just not sure what’s going on with it right now. I expect to pick it back up if the price starts going up again or if Lightning or some other development shows good results.
Thoughts on ETH Price Cap
One thing I like right now is Vitalik’s proposal to put a cap on ETH. A large reason I like it is because he’s super smart and always thinking ahead, so I feel like it’s coming from a great place, but also, I think it’s great in general to see ETH evolve and mature in such a flexible way. It’s hard to predict real economic effects, but the idea is a huge change, so kudos if they implement it for staying nimble (note: opposite of Bitcoin).
I did buy some EOS this month. I think EOS has a lot of promise, and I wish I’d picked up more at $6. It’s $7.20 as of this morning, and I think it’s still cheap. In June, the EOS platform officially launches, so I expect price to pick up then, and ultimately, it could follow a timeline similar to ETH.
I also received 500 ST this month for alpha testing their drag-and-drop token economy platform. I absolutely love OST (formerly Simple Token), and I was beyond excited to test the platform. As an early tester and someone who ran more than 10 transactions on the platform, I got 500 ST as a bounty.
I also applied for a 50,000 ST bounty in the alpha phase 2 (Developer Proof of Concept). I submitted a proposal to convert my Really Simple Store ecommerce platform into a token economy. (The idea is not around using tokens to purchase things, it’s around token-based consignment selling.)
They’re giving the bounty to 100 groups, and they got 200 submissions. I did not plan my proposal very well (it was off the top of my head the minute I saw the program announcement), and it would be a big time commitment to make the project happen, but I decided to just give it a shot. I will definitely commit if they choose me.
I’m also still in the process of writing a deals memo for OST, but it’s under way, and I’ll publish it soon.
Ideas I’m looking At
Civil is decentralized journalism… small groups who control their own content and audience; self-governed removal of bad actors creates financial incentive to be truthful/ethical; disputes based on a “constitution” to prove or disprove claims.
I really like this idea, but for some reason, I’m not pulling the trigger yet. I’m watching closely. They’re creating a protocol for tokenizing securities and other traditionally traded assets. I love this idea, but I don’t know how/when/who it will happen.
This company provides a great service, is used by another investment of mine (LendSnap), and has a decent track record. This is a bridge round, and it’s crowdfunding, but I still want to keep trying things. They digitize the storing and sharing of financial documents, which is a huge need (at least in the US), and they would sell to the billions of financial products and companies out there as a white label service, which seems like it’d be appealing (why reinvent the wheel on a “back office” service).