Good node, bad node, nobody nodes

Good morning all.

So what did we do next?

Well we bought into a node project. I had been reading up on a lot of them, some were immediately dismissed on the purely scientific approach of i can't invest in something with a name like that.  There were many node projects available and i must have read about most of them but we had a shortlist. Some had entry points above what we were willing to spend (with hindsight that was a save as they are not doing so well now) as well as one we thought we would possibly invest in later on. (That did not happen, which is great as that is also not doing so well!)

Eventually we picked 'the one' so we have also had to research what token we need to buy the node, what network to use as well as gas fees and buy and sell taxes. I still find this whole process makes me a bit nervous, i check twice with everything. Eventually though it is done and we have a Project x node. 

Our spreadsheet is done (we have one for all the projects we have invested in, for what it is worth) We have our estimated date of when we should be able to compound our node. This is the exciting bit and we watch and wait.

Well we can now fast forward a few months as i am still writing based on our diary of our crypto journey, so here goes i can actually list what we have invested in so far:-

Sphere finance (luckily we just broke even)

Titano finance (still in there but have given it up as a loss)

Project x node (still in there and have made many more nodes that are not really worth much so looking at it as a loss)

I know, i know but we are new and to be fair we only invested a really small amount in each of these.

On the plus side we have learnt a great deal.

We have learnt how to use the various DEX's as well as what chains to use and even swapping chains. We are more confident using metamask (our first transaction took us more than an hour!) We look at the projects social media and if all the comments look like they are bots or real people and if you ask questions, do you get a reply? There were a couple of things we looked into but decided against after not really getting answers even though on the surface they looked like viable projects.

I know that there is much more i need to research when looking at projects, white papers are not enough, i also need to look into contracts, spend more time looking at the people involved in the project. If i was really smart i would also look into the wallets and if one or two wallets hold all the tokens. I know that offering huge API's are not sustainable but i think we got caught up in the hype,  I guess it is easily done.

Well looking at this you can tell why i don't have to use the whole.......this is not financial advice bit, but it is not all doom and gloom, there is more to follow and as i said we are learning so i think we have made better choices. Regardless of win or loose we are enjoying the constant learning and the excitement of crypto as a whole.

As always, thank you for reading.