Added liquidity to KOINOS pool. - Doing nothing is worst than doing something and eventually fail...

in LeoFinancelast month (edited)

whatdoesliquiditymeaninbusiness750x422.jpg

Being late to the party... is probably my routine. Whereas party I mean timing...investing timing to be more precise. In a world where everything can change in a blink of an eye, timing is probably what determines a winner from a loser, a smart move from a big failure, or even a life changing call from a simple trade.

There are so many cases where I could have done so much better, especially while trading crypto, that I am often angry at myself.

I was the kind of guy who bought STEEM at 4$....later on at $2...at $1.6 ...$1.2...$0.80...all the way down to $0.10. Ya, that kind of guy...

I was also the kind of guy who had literally zero liquid HIVE right after Huobi announced that they will be listing HIVE the following day...The result was watching HIVE using the elevator instead of the stairs all the way up to $1 within 2 days...but hey...I was the smart one...the one who kept staking all their rewards and purchases from the open markets...silly me.

While Hive is unique on its kind, that 13 week week period for a full power-down is a double edged knife...so make sure that you are holding at a "liquid" form at least 10% of what your HP is. Unless of course you don't like profits... Everyone likes profits, don't fool yourself.

Another bright example is the LEO token. For many months in a row and while the LEO token was cruising between $0.005 - $0.02 I didn't buy tons of it. I mean I did buy but I could have easily purchased 50x of what I hold now...

And Murphy's law was confirmed once again...LEO went beast mode and while I was 100% sure that if there's one Tribe/app you name it that will go BOOM ever since LEO and I crossed roads...I did nothing and was left watching from the sidelines...

Doing nothing is worst that doing something and eventually fail.


Want more? I got some more.

I bought a so called shitcoin about nine months ago. I invested about $1000 while it was being traded at 7 Satoshis. Ya that's a 7 (seven). I had almost forgot it even existed...and then one day and while I was at the beach...within 3 hours it climbed up to 180 Sats. The thing is that if I had used the "ladder" selling method I would have turned those $1000 dollars to $25.ooo. It's just that I never saw it coming...

Another bright example is that I never ever used Uniswap platform to see at least what this is all about. Therefore I wasn't part of the biggest airdrop in crypto history...

So, I am gonna kill it here with my failures...

The thing is that while being late to the party 90%+ of the times is bad...there was this one time that really saved my ass. I was almost ready to hit the "add liquidity" to the LEO/ETH pool but I hesitated....Most likely I would have lost everything because I have no access to my PC when I am working. And I am working at least 13 hours per day on average... I wouldn't have time to remove my funds from the pool...I am 100% sure.

And I am really sorry for each and everyone of you who lost their funds that day. But that's crypto...the wild wild west...

Just an obstacle till LEO set course to the moon, trust me.

Long story short, I had to test Uniswap somehow, right? That's where KOINOS came into play...

I am pretty sure everyone knows about Koinos.io and the team behind this project. Also everyone knows how to mine their token using your PC/laptop/rented AWS beast server and so on...

What you might not know is that there's this KOIN/ETH pool already on Uniswap. So I decided to become a Liquid Provider. Swapped 0.75 ETH for 7500 KOIN and added about $500 liquidity to the pool.

Reasons behind this decision.


  1. I know most of the people behind this project and combined they make a strong team. If they can market their product properly I think that the result will be more than satisfying.

  2. Only 100 million tokens will be minted - The first couple of days and even though I was mining using my piece of junk first gen i3, I managed to collect almost 1000 tokens. Every hour that goes by mining becomes way more difficult.

  3. Eth fees are often ridiculous. But really sweet or LP's...

  4. Just because there are a few beast miners that mine tokens by thousands, there's a lot of dumping too. They keep swapping KOIN for ETH since they mine tons of it. So ETH is their No1 choice...more fees ...more smiles for LP's.

  5. Exactly because mining has become unprofitable for the average user, unless of course your cpy is an i7/19 - Ryzen7/9 the only way for "average people" to buy KOIN is by using the pool. On the one hand there are those few big dumpers on the other hand tho there are a lot average Joe who want to get involved and buy what the others are dumping. In any case more fees...

In less than 24 hours...I've earned $1.65 on fees and at this point I really don't care about impermanent loss. I think that the price will remain low for some time before it takes off so being LP is a win - win situation.
20201017 21_25_10Untitled  Paint.png

On a side note, this pool wasn't created by a member of the OpenOrchard team and don't really know who is holding the private keys. That's exactly why I decided to invest only $500...

Some will say that I shouldn't have done that...I say...what the hell, we only live once.

PS. I keep buying from that pool whenever I have the chance and stopped mining, That's until my new Ryzen 9 arrives next week. Mining 30 tokens per day is laughable...and unprofitable...

Thoughts?

Have a good one people.
Source
Cheers!

Posted Using LeoFinance Beta

Sort:  

I decided to jump on board with the liquidity pool today too. Mining doesn't seem profitable, but I'm going to let in run, just for fun.

On the marketing front, Andrew Levine is very pleasant on the eye, I could watch him talk all the live long day, nodding and smiling a long not having a fucking clue what any of the behind-the-blockchain modular granular interoperable upgradability nonsense he talks about means.

But from a marketing perspective, it's a win.

He could probably even turn a Uniswap coin hack into a positive.

Posted Using LeoFinance Beta

It was kind of unfair to buy into steem for you pretty late but then these losses hardens the heart when it comes to investing, I guess you'll win someday, every dogged investor wins big eventually anyway.

Show me one guy that hasn't blown away massive profits in crypto. It ain't crypto if you haven't lost money in it or witness how some shitcoin you just sold goes 3-4x in a matter of days or weeks. That's why I hold onto AVA, my favorite shitcoin.
Let me give you an example that I mentioned about in a post today, on leofinance, of bad crypto investment. I bought NXT in 2017 for $1, sold it at $1.5 and bought it back at $1.9 to participate in its shitty hardfork and get some shity coin airdrop and sold it finally at 12 cents. Turned about $1,300 into some $120 or so while being unemployed, and living in Romania... Part of the learning process. Next time the bull market hit us I'll know how to make money, for sure. Now it's just a matter of patience.

Now it's just a matter of patience

I keep telling that to myself

I’ve never mined anything before. Rumour has it you don't need anything special (or much experience) to mine this coin, is that right?

Check @ervin-lemark's blog.

Posted Using LeoFinance Beta

Thanks

a PC/desktop with a decent cpu is all it takes.

Now whether it's profitable or not to do so it remains to be seen after a couple of "proofs"

Posted Using LeoFinance Beta

Thanks

a pc/desktop with a decent cpu is all it takes.

Profitable or not remains to be seen after a couple of "proofs"

Posted Using LeoFinance Beta

Any place to learn how to provide liquidity ?

Posted using Dapplr

Koinos discord maybe?

Yes, shall check it thanks !

Posted using Dapplr

Could you post the official contract address in this post?

Posted Using LeoFinance Beta