After CITYUPTAKE and COTI, I have started intense participation in a third Cryptocurrency project. The project is called The Crypto Universe. The intention of The Crypto Universe is to be a platform to help people who are new to or inexperienced with Blockchain and Cryptocurrency specificly to land in the big bad world called Crypto.
The Crypto Universe website consists of several sections, which will be filled with content gradually.
The roadmap describes them one by one and the first section which has already gone live is the Promille Project:
The Promille Project is the part of our Eco-system which will contain a variation of Tokens to the benefit of its holders. The first token created in the Promille Project is the Pi-Token. The Pi-Token is a token which uses invested TRX to create a passive income, while guaranteeing the value of the invested TRX. “Building Trust through Transparency”. The white paper explains this in much more details:
The Token was created on 02-02-2020 and has been paying out rewards for close to two Months now, which was on of the reasons for a summary of the achievements so far.
More features of The Crypto Universe will come and more info about the Pi-Token can be found here: https://t.me/promille_project In time The Crypto Universe will get its own section in the Carpathian Basin website.
Months 15 of the 111 months early retirement has finished. Time for a summary
The 15th month of the #111Months challenge has finished and due to the global situation we are in, it was a month of a major step back. Both the share values and the crypto value dropped back. Eventhough the spending has been reduced, giving more opportunity to buy more Crypto and shares, the nett result was negative.
The proportion of loans on my total wealth has climbed up after a steady continuous decline. In the coming months, our government has suspended loan repayments, so the free cash will be used to increase exposure to shares, crypto and precious metals.
Also the passive income generation has suffered over the month of March and has dropped significantly. Even though the holdings of all passive income generating assets have increased and a new asset (Pi-Token) has been added to the list of passive income generating assets.
With March having been an extremely busy month, setting up another Crypto project while dealing with COVID19 issues in normal work, the blog has been neglected a bit. But a recovery is in place
The 13th month of the #111Months challenge has finished. 98 Months to go before early retirement. After some disappointing months in the Crypto world this was the first month showing some real recovery.
The proportion of loans on my total wealth has been decreasing steadily and is now dropped well below 40%, which means the nett. wealth is developing nicely.
The passive income is at a steady level and continuously increasing with increasing my stake in passive income generators like (in order of contribution):
In February $COTI will be added to this list through staking as well.
The wealth building has recovered from two bad month in Crypto and is back on track, well ahead of the target created when the #111Months challenge started.
With the mini-bull run behind us, I thought it would be nice to check how the Coinmarket cap developed over time.
The table above shows how the top 20 has changed significantly from 2017 (Jan 16) to 2018. However in the following years there was less of a shake up. Clearly the market cap has been severely impacted by the 2017 end of year bull run. In the following bear market the ranking has stayed relatively stable. To my surprise there are still quite some Forks in the top 20 and I would expect the majority of them to drop our during the next bull run, as I would hope that utility will become more important than the name of the project.
However the top 3 of the Coinmarket Cap seems unshakeable.
This exercise led me to investigate the coins in the top 20 a little bit more in detail and I finally checked out LEO, as it has always intrigued me, what is it and why is it in the top 20? I will add some more words to that at the end of this article.
So what happened with the projects vanishing from the top 20?
The projects dropped out in the recent years have been able to keep a position in the top 50 with the exception of ICON. But among the projects, which were shaken out after 2017 there is a bigger variation to see. Clearly a lot of them have been overtaking by newer projects with superior technology.
What is Unus Sed Leo (LEO)?*
“Unus Sed Leo (LEO) is an exchange token that was launched on May 22 by iFinex, the parent company of Bitfinex, Ethfinex, and Tether. The LEO token is an exchange utility token for current and future iFinex trading platforms and services.
It was launched to the public following a private sale raising $1 billion. During this private sale, the purchase price of Unus Sed Leo (LEO) was 1 USDT for 1 LEO and the total supply of 1,000,000,000 (1 billion) LEO tokens were sold.
Why Did iFinex Launch an Exchange Utility Token? Cryptocurrency exchanges issue their own exchange tokens for a variety of reasons; to attract more users, to benefit existing users, and to generate more profits. iFinex is no different.
However, the primary reason they issued the LEO token when they did is because in 2018, Bitfinex’s payment processor, Crypto Capital, was subject to a partial government seizure equating to $850 million of Bitfinex’s funds. Bitfinex is actively working to expedite the return of these funds but there is no certainty they will be able to recover them.
Therefore, to alleviate this cash shortfall, iFinex conducted a private offering of $1 billion for its Unus Sed Leo token.
If Bitfinex is successful in recovering the $850 million funds from Crypto Capital, they stated that an amount equal to 95% of the recovered funds will be used to repurchase outstanding tokens and then burn them. As well, Bitfinex will also use 80% of recovered funds from a 2016 hack to repurchase and burn Unus Sed Leo tokens.
The repurchasing and burning of LEO tokens from recovered funds will reduce the token’s total supply and drive the price up through time.”
After setting up the CITYUPTAKE passive income stream in 2019. In 2020 I want to add:
Cardano blockchain based passive income
COTI blockchain based passive income
Passive income through Pynk
For Cardano I joined the Shelley testnet and although majority of ADA is used to boost the CITYUPTAKE Trade Desk, still a portion is used to receive staking rewards. Waiting for projects like CITYUPTAKE to emerge for serious passive income.
For COTI, first staking poolparticipation has begun, now I am saving to have enough COTI to start my own active node.
For Pynk I finally accumulated enough community points to be converted into Pynk shares.
For that I had to predict and invest time for 5 months:
I made 148 predictions and 42 forecasts.
Anybody interested in exploring Pynk please use this link: link
An overview of how 2019 was the year of building a crypto base
This post gives a summary of how I have dealed with Crypto through the year. I started the year as a small holder of $CITYUPTAKE, a fan of $Nano and $TRX, with high hopes for $XRP and in the state of lost faith in $ADA. $BTC was like dinosaur technology for me. But what did I know? I was only in crypto for 9 months and still a rookie in all area’s.
Since then I have started the #111Months challenge, with the goal to retire by the age of 55 by focusing on a healthy mix of crypto, stock and real estate portfolio. I have turned around this website to document the road to financial independence.
A target hold for a wide variety of stock has been created and besides being the co-founder of the Oh!live.hu webshop for selling quality olive oils in Hungary, I had the honor to become and agent for CITYUPTAKE as well.
The value of the crypto-portfolio (blue line) has increase steadily mainly by investing a significant sum (orange line) prior to the summer holiday. Mainly through the rewards from CITYUPTAKE and the start of CITY Alpha, my investment shows a minor profit at this point (red line).
Passivive income has been steadily increasing:
It can be said that 2019 was the year of building a foundation for passive income. Mainly CITYUPTAKE and CITY Alpha rewards have been main contributors, with small support from WINk and temporary projects like BOOM. In 2020, $ADA staking and $COTI staking will be adding to the mix, also the amount of dividend paying stocks will be increased and Pynk will be explored for passive income as well.
Hope that 2020 will be a successful investment year for all!