When setting up the #111Months challenge to enable my early retirement, I have set up some target hold levels for Cryptocurrencies. However as time progresses new insights occur.
Where I originally started my crypto travel with $NANO and I still believe in this coin, my focus in time has shifted to TRON and with the current progress in Cardano also $ADA which was there in the beginning is back on my radar.
The graph below shows the 5 years targets, which I set for different coins by the beginning of this year.
As is visible here, I already modified the target for $XRP as I sold out a significant portion. Also visible is that $TRX already achieved the target and $ADA is getting very close.
The amount of $BTT and $BTC is climbing slowly but steadily by daily stacking and their target levels seem realistic.
All other coins for which there is a target are currently on the back burner and they will receive the proper focus when there is budget left after reaching the desired purchases for the ones in focus.
To the above clear, I have modified the targets for $TRX and $ADA significantly:
Summary of the 10th months of the 111 months challenge
Due to the fact that the majority of the passive income is coming from the CITYUPTAKE returns, which value is directly connected with the value of $TRX, the passive income has decreased in October compared to September. First passive income was received from the Stock Holdings as well.
WINk and BOOM have become good passive income providers on the TRON blockchain as well and the revenues are used to increase the hold in WINk for long term income.
The amount of money in outstanding loans has decreased significantly versus the total amount of wealth and is now standing at 39% of wealth.
The Fitbit stock was sold with a 35% profit and part of that was used to increase the stake in passive dividend paying stock Altria and a portion was used to buy another speculative stock PG&E which had a recent big drop.
Tron recovered slightly and the vibe is very good with the cooperation with Samsung. This bodes well for the vast majority of my crypto holdings. BTC I keep stacking continuously by adding 0,0003 BTC to my stack each day independent of the price. CITYUPTAKE is giving me through its rewards at least 3k TRX tokens per week, which is slowly increasing the stack.
And as Cardano is getting closer to the possibility of staking and the Shelley net is to be launched soon, this is the next Crypto on which I will focus to build the stack.
With investment emotion is a big factor. It is important to be honest to yourself. Are you an emotional person when it comes to investments? Are you quick to be drawn into a FOMO? Are you likely to have a panic sell when prices drop? Have you done impulse purchases in the past?
When your answer is yes to most of the above, it is best to steer away from the temptation of emotion impacted investment.
I have done so by locking most of my investments and making them difficult to touch. Instead of trading, I put a significant part of my holdings in the hands of transparent and compliant professional traders like CITYUPTAKE and soon also accompanied by PYNK. These are taking care of my funds while generating a nice passive income. With that passive income, I can choose to re-invest or to use it for more risky investments.
Besides CITYUPTAKE and PYNK also nice opportunities are opening up at Cardano, which is soon to be ready for staking as well.
So the monthly decision is now, what to do with my investable money? Crypto or stock? CITYUPTAKE or PYNK?
In the end I know that as long as I am not trying to trade myself, the return on my investment will be good whatever decision I take.
In January, I started the #111Months program, to try to be in a position for early retirement in 111 Months.
After 5 months I have achieved a blended 4,3% of the final target (helped by the small surge in value of crypto-currency.
The goal is to acquire enough wealth combined with Passive income to be able to retire at the age of 55 (111 months from start) and be able to survive by means of passive income, without eating up the wealth.
The approach is:
Pay back existing loans, decreasing negative wealth and having more spendable income to build up wealth.
Maintain position in Brewdog shares
Maintain and slightly increase position in Crypto
Reinvest weekly CITYUPTAKE rewards to increase further passive income
Build a position in dividend paying shares.
Besides being able to retire after 111 months, the ambition is to have a solid social media presence by that time as well, so I can retire in my home office and can do investment management, while engaging in the crypto social media. The two chosen channels are:
Twitter has been chosen because of the historical Crypto engagement. Current amount of followers is just above 100, the target is to have 500 by the end of the #111Months project.
FriendsterIO has been chosen as I believe this is the future of social media. A young fresh new social media site, with integrated Crypto functionality. Non censored and decentralized. The target is to have 1.000 followers by the end of the #111Months project.
On way to get more engagement on Friendster is by starting the weekly “Castles of Carapthian” game, which his hit the top of the most popular posts section.
“Don’t fear failure. Fear being in the exact same place next year as you are today.” Michael Hyatt
When I started the Carpathian-Basin project it was at a moment I was looking for something more although I am quite successful in professional life and have a happy and adorable family.
I previously tried to set up a company called Portaholic with my two Stepsons after visiting one of them during a Erasmus program in Portugal where we took up the ambition to bring the joy of tasting Port to the Hungarian people. This project came to a stand still just before summer 2018 as the regulation surrounding Alcoholic beverages into Hungary (or any EU country) required too much paperwork and investment before being able to set up a decent company. But this joined exercise infected me with the entrepreneurial virus.
Inspired by all travels and life experiences I decided it would be nice to capture these in real life apparel and market it for the wider public to be able to buy it and therefore I looked for a suitable name which referred to my whereabouts and had any relation with traveling or geography. That is how I came up with Carpathian Basin as Hungary, my new home is located in the Carpathian Basin. I started to design and create shirts but on the way decided it is too personal just to sell it and it is better suited for personal usage or for sharing with friends on certain occasions. The upcoming weekend with my former Student room mates is one of these occasions where a custom made T-shirt has a great value.
In the meantime, while designing shirts, the cooperation with my step sons had a new boost and we founded a new company, called Oh!Live. This would be similar style as the previously founded Portaholic, but with healthy products which would be easier to import, organic olive oil. Another quality item, which is difficult to find in Hungary. The launch of our website will happen in the next couple of days.
While exploring all the area’s of enterpreneurship, I also became a huge enthousiast of the world of crypto-currency and Tron in particular. This had led me to change from my the focus on apparel to a focus on all things close to me from like traveling, Oh!Live, cryptocurrency, apparel and what ever will come next.
It was August 27, 2018 when I bought my small little stock of Tron (TRX). I bought 7262 TRX at a price of $ 0.0232. This was at the same time that my investment in Nano was down from an original price of $5.09 to $3.20 and Cardano (ADA) was down from $0.266 to $0.095.
I was getting all my knowledge from mainly crypto-currency news apps and some Telegram groups. Once I found the tronwallet.me app I downloaded it from the App Store. It was end of September when I found out you could vote in order to receive additional TRX as voting rewards. It was such an eye-opener to see a possibility to increase you hold just by voting. My stack of TRX already grew close to 50.000 TRX.
I became very active in Reddit and joined the Telegram groups of all the SR candidates as I was hopping from one to the other for optimal voting results. It was the community node telegram which gave the most broad information about Tron and a regular visitor to that Telegram group was Jason Lavender from Cityuptake. He was talking about Cityuptake and how CUT created a system, where you buy a token, where 74% of the token is backed by TRX, which is used for voting on the SR giving the highest return and the other portion is put into a Trade Desk, where Jason as a professional trader generates returns which are shared proportionally based on the amount of tokens held.
I joined the Cityuptake Telegram group as it seemed to be too good to be true. Invest TRX for optimal voting returns and on top of that getting a weekly Trade desk return. As I was still early, they did not yet establish a minimum buy in amount and could participate with a trial amount of 5.000 Cityuptake tokens. The conversations in the group were great and are still great. Trading essentials shared by Jason, a full supportive team of Agents, where one of them forced me to learn a lot of new words (google became my friend again) Crazy conversations with crazy people like Impoose or Ry Sergay. It is both a fun and educational experience to be part of that community.
In due time I have been buidling the stack of TRX and the stack of Cityuptake both by the daily and weekly rewards and by consistently converting some FIAT money into TRX. The daily rewards are used to experiment and invest in TRX based gambling sites, wallet tokens, BeatzCoin, IGG, Poppy and many others, but the only one with consistent returns and consistent value is CityUptake.
Now the only thing is too wait for the TRX value to increase while buidling, to reach the time when the daily rewards will be valuable enough the sustain a relaxed lifestyle which will be the moment for Early retirement 🙂
About 10 years ago when Bitcoin was still very young, I first encountered it while scanning the net. I decided to buy some, but due to the difficult process to acquire some at that time I decided not to do so and in the process I lost interest in Bitcoin. And invested in a little brewery in Schotland instead. Big Mistake!
Than 5 years ago I was sitting in a taxi, where the taxi driver asked me if I knew Bitcoin, I acknowledged and he told me that his son was Satoshi Nakamoto but nobody knew. He told me his son spend 10.000 Btc on pizza’s and still made a fortune and moved to the US. I guess he merged some stories around Bitcoin and made them his own.
Bitcoin was back in my vision field again, but anytime there was news that the prices dropped, I used this to justify to myself that I made a good decision not to buy even though I would already have been a millionaire if I invested my originally planned 250 Euro. And anyway Brewdog was doing well so my investment was not a waste.
Another four years later, around a year ago, my stepson was talking about Cryptocurrencies explaining how Bitcoin went to the moon and came back for a relaunch. He was explaining Cardano as one of the big potentials for the future and at the same time Brewdog was exploring going to cashless bars and it was rumored that they would use Nano for that. Now being fed by two independent sources, my interests in Crypto were reignited and I invested a little money in Nano using a two step process via Coinbase and Binance
Beginning of May I added some Cardano to my portfolio as things were looking very bright. And then all dropped further again. I left the investments for some months in their wallets and only looked back end of July. That is when my addiction really started. I started to crave for more knowledge. Checked on a daily base Reddit and different variations of Cryptonews. That is when I discover Ripple and Tron. When Tron launched the Tron Virtual Machine, I entered Telegram.
In Telegram I had to navigate myself through all the moon boys and rocket people (but as time progressed they vanished one by one as the rocket to the moon was not coming). But I did find one rocketman I liked, the one which is shown everyday by Cityuptake when they pay out the daily rewards.
But Cityuptake is a story for another day…. The day that I will talk about my journey through the Tron micro-climate