First of all, YES i misspelled Mr. De Mesel's name wrong in the title. I didn't want to give the impression i was fishing for clicks from the algorythm or something by using his name in the title. Searching for titles with De Mesel's name in it wil not return this one. This article only exists because my reply to his article was too long....
@MarcDeMesel posted an article today:
And after i read it it got me thinking...
And i started to write a reply to the article. I reply my replies always as if i am replying in person to the author of the article, and it turned into this:
You have inspired me to take the riskier road. You speak (or type rather...) so confidently that it drew me across the line. I'm a little nervous, but I'm going through with it no matter what!
I throw caution to the wind!
Hmm, no wind today... never mind...
Not only your post convinced me though, it was both you, and Rule of acquisition number 62:
The riskier the road, the greater the profit
That rule clearly supports you too, and if there's something the Ferengi are good at it's making a profit!!
So i did some digging and found that scraping together all the little bits of crypto i've got on paper (literally) wallets and on exchanges and other platforms, i think i can put together 0,02 BCH. I think i'm going to follow your lead. I read your article and it makes sense.
If the prices go down 50% or more then I think the liquidating of your collateral isn't really the biggest problem anymore.
At least, i think i remember that you have 50% of your portfolio in crypto, and if the markets crash another 50% I think that a little loan against some dpi won't be the thing that gets you. I think, just for the sake of caution, I will use Binance and do a margin trade.
If i understand right, i can deposit collateral in the margin trade wallet, place an order with that deposit for a 3x margin or a 10x margin. So I'll depo 0,02 and make an order for 0,01 with 3x margin (0,03) set that to sell when the market price hits 15% profit (or should i shoot higher?), payback the 0,02 i loaned
(with a little interest that i can pay in bnb which i can get from all the leftovers, from other trades i did over time, in one click.)
If i did my numbers right and all goes as planned (ie, BCH doesn't crash more than 50%) then i will make almost 25$ after the order is done, and the loan is repaid. For me that's a lot!
I'll have to see the market at that point to decide if and how i can repeat that a couple of times afterward and then go the staking way, i guess when the profit from staking is motivating enough. Eventually getting a side income of 25$ a week would be the wildest and most awesome achievement i can dare imagine right now.
Maybe your post will have been the first step towards it!? Thanks, Mr De Mezel, and i also promise to write an appropriately flaming rant article of course if this turns out to be the collapse of global finance and the collapse of civilization as we know it! ;-)
At this point, i cut the above from the reply and posted a little reply with a link to this article. I don't think the read.cash editor would allow a reply this long anyway, so, eeh, shoot me!
Thanks for reading, consider reading the post that Mr. De Mezel wrote! His generosity here at read.cash and throughout the community is unparalleled, at which i am in awe, which humbles me, and for which i am grateful!
And please have a look at my sponsors! They're the only sponsors i've ever had, and to me that's something special! People paying me to mention that they are supporting me, no one ever had me in such high esteem before!
Stay safe, stay happy!
@AnonSunamun
THONG NGO