I was out visiting my parents the other weekend and on the way home I planned on stopping by the butcher store to pick up the 20 pounds of chicken breasts that we process every couple of months. As I was heading out the door, @mrsbozz said to me, "we are grilling tonight, so if you don't already have something in the freezer you might want to pick something up".
The truth is, I did already have something in the freezer, but for some reason, I wanted something a little more. Sure, I could have thawed out one of the New York strip steaks I have in there, but I haven't had a porterhouse in forever and that sounded delicious.
There it is, my $16.50 USD porterhouse steak. The strip was amazing and the filet was beyond belief. I grilled it to perfection and it fed me for two whole days. I was in heaven!
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the community.
Staking
Despite the debacle with UST and the FTX scam, I still think one of the big concepts pushing the next bull run is going to be staking. Again, despite past follies, I think people are looking for something more secure than DeFi. NFTs were great, but even after all this time I don't think people can wrap their heads around it like putting your assets in a fixed location and earing interest on them.
It's a safe bridge for a lot of people. Plus, the interest rates don't hurt either. Take HBD for example. No, it's not the insane 1000% rates like we were seeing with DeFi, but let's be honest, for most of us, those crazy rates didn't pan out anyway. Either the rug got pulled or things slowly fizzled out and you were left with tons of a token worth less than a cent.
Compared to that and traditional rates, that 20% isn't looking so bad now is it? You better believe if it is attractive to us, it's going to be attractive to newbies too.
I foresee a good number of people enjoying a big fat juicy steak/stake during this next bull cycle.
Crypto Scams
@mrsbozz is a bit of a true crime buff. She has Court TV running in the background pretty much all the time. She also listens to the police scanner feeds fairly often. In addition to those feeds, she follows a couple Facebook groups where people repost what they hear on the police scanner.
The other day she read a post to me. The gist of it goes that a woman was at a party store trying to buy and send crypto currency, but the store owner talked her out of it and called the police so she could file a report.
In the past, this was the kind of story that the mainstream media would latch onto and emphasize crypto currency as the "big bad". Forget the fact that scams like this have been going on for years and crypto currency could have just as easily been replaced with gift cards, cash, or any other number of things.
Hats off to the store owner (who must have one of those BTC ATM's in the store) to realize what was going on and stop the lady before she could lose too much money.
It is interesting to note that I see far fewer hit pieces on crypto now that the ETFs have launched than I did before. Perhaps that is a sign of more widespread adoption. Then again, I'm sure the SEC has some trick tucked up their sleeve they plan on dropping sooner or later.
Speaking of Scams
That potential crap token/rug pull I bought into a couple weeks ago still seems to be plugging along pretty well. At least so far the rug is fully intact. I purchased in the stage 5 or 6 range and it appears they are now in the stage 8 range. In each stage, they incrementally increase the price by a certain number of cents. The token price right now is $.100 and the next stage will put it at $.110.
The project so far has sold 284,942,953 of 310,000,000 total tokens (supposedly) and have collected over $19 million dollars in USDT.
I still keep seeing news articles mentioning this token, so their marketing machine is still fully functional. Either way, they stand to walk off with a fairly large sum of money.
My current holding is just a little over 4000 tokens. We shall see if there ends up even being liquidity to get out of them when the time comes.
Magic Eight Ball says all signs point towards "NO".
My Precious Metal Portfolio
Finally, it's been a while since I talked about the precious metal stocks that I own in my Robinhood account. My Robinhood account is something I opened up a while ago on a whim. I really don't have much invested in there, but it's something I play around with from time to time when I want to pick up a stock here or there.
Right now, my portfolio looks pretty pitiful. My five shares of Fortuna Silver Mine are still in the green though. I think I bought them at about $1.65 per share and they are now sitting at $3.22 per share. That's down from a couple years ago when the price jumped over $10, but I am not complaining.
In addition to FSM, I also picked up some shares of Kinross Gold at the recommendation of someone here on HIVE. I have five shares and I think I bought them at around $5.34 per share. The current price is $5.77 per share, so I am up a couple of bucks on that one as well.
Being up is better than being down, so again, you won't hear me complaining at all. I think it's safe to say that I am not the person to be taking stock advice from. The rest of my Robinhood portfolio is pretty sad.
With that happy thought, I hope you all have a great weekend!
Sports Talk Social - @bozz.sports
It might help to think of NFTs as art collecting for rich people. As we all know, rich people secure their wealth in art, in these million dollar paintings. It also helps they avoid taxes, but that's another matter. Anyway, art collecting is a game that none of us normal folks can afford to get into. NFTs have the promise of allowing us peons to play the same game, well, ideally.
Yeah, I guess that is a good point. I don't necessarily regret my NFT purchases, but there are a lot of things I aped into that I probably should have held off on. I'm just sitting on so many of the dang things now and most of them are worthless.
Oh nice looking stake!
!COFFEE
!WINE
!BBH
@bozz! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @ironshield. (2/5)
Good to hear stakes you placed are going according to plan.
Planned steak never to be beaten straight off hot coals, sides look good as does the Missus chicken grill.
Happy Friday!
Thanks! Happy Friday to you too!
Porterhouse is my go to steak, my next favorite is hanger steaks but they are harder to find. I’m a red meat guy, they say it’s not good to eat that much, but I crave it. I try to limit it to 3 times max a week. I get bored with chicken quickly, so it’s rough.
Over 80% of my semi pathetic crypto portfolio is staked. Not that I’ve chosen bad tokens, I just don’t have enough money in my crypto portfolio. I’m trying to fix that before the next run.
I don’t do much in stocks, after the dot com bubble burst I’ve been very leery on the stock market. While a friend of mine told me to get out and I did thankfully. I could’ve really taken a beating.
You could have, but it ultimately would have recovered based on what you were invested in. My wife doesn't eat beef, so I have learned to love chicken. It's probably just as well. Every now and then I get some beef. Most of my tokens are staked too. They don't earn much, but they are there for when the time is right.
You cant beat a Porterhouse - looks lovely !
I totally agree! It was delicious. I don't get them that often, but man, it really hit the spot!
I just want to eat steaks 😋 my taste buds are yearning for them. Staking and other crypto related things haunt me a lot 😂
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I don't eat as much beef as I used to, but every now and then I just need a good steak!
I prefer stakes to steaks :)
More often than not, I actually do too! Especially these days.
Wonderful 🏆
Thank you!
Porterhouse is my favorite by far, and that one looks awesome! I sure want a steak after seeing that beauty. Scammers really suck and they're just about everywhere anymore. May that rug pull never come on the one you purchased, so far it sounds like you're making some money!
Small and medium cap silver and golds are so variable, I have a few that go up and down. Best part about using Robinhood is the free trades, I haven't checked my account in awhile. Thanks for the reminder!
Yeah, this was the first time I have checked my Robinhood account in a while. I grew up eating T Bones, so the porterhouse is probably my favorite too. I usually buy new york strips because they are just so easy. I've really come to love Tritip too. We have a local BBQ joint that does a really good Tritip, but I am sure it is nothing like out west.
Cooking is something I lack and my wife have told me why dont you learn, actually Im sure I know how to, I have done it some times and it wasnt bad but its the waiting for things to get cooked that kills me and makes me hate it, I have been adding to my HBD savings what ever HBD gets to my wallet although Im planning on adding to it constantly on 2025, on the way down to build up a nice $6k savings, after all this scams I wonder whats the next one, there will be a next one but I doubt bigger than FTX, that was the mother of financial scams
FTX definitely touched a lot of people. I know at least one personally who as impacted by it. I can cook, but I mostly prefer to grill. Then you just sit back with a beer and the waiting isn't so bad! That sounds like a good plan for your HBD. If you get it to somewhere around 6300 that will earn you 100 HBD every 30 days.
Yes sr 100 HBD a month would be nice to keep buying during bear market all the way down
That is a fine piece of steak! On the scam, did you manage to get out, or still wait a little?
I'm going to wait and see what happens. Might as well at this point. I don't think the token has even been listed yet, so swap opportunities to get back into ETH aren't there.
I don't know where to start. Already, I've been salivating over the photo of your steak even as I'm leaving the table.
Secondly, I've come across your "Finance Friday" series several times now. It's really interesting and it's articles like this that I'm looking for (with feedback, etc.).
I don't know anything about DeFi, well I do, but I'd seen that it was very risky. I like risk, but too much risk. So I wasn't really interested. Maybe I should have.
In any case, I've been trying to invest my money since I was about 20. I started with "traditional" financial products with interest rates around 0.5% and 3%.
Then I started stacking crypto on Binance, where I benefit from much higher rates (between 5% and 15%). And then recently, I discovered Hive with the HBD and its 20%.
The only problem is that in France, if you want to withdraw your crypto in FIAT currency (euro), you have to pay a flat tax of 30%. Well, at the moment I don't feel like withdrawing my cryptos anyway, but I find it huge.
Can't wait to read the next articles in this series! 😉
Yeah, anytime I plan on moving money out I bake the 30% tax in. So if I need 10K I take out enough to cover the 10K and whatever the taxes will be. It can be a bit like trying to hit a moving target at times. My traditional investments have been doing well for me. I think I average between 7% and 12% on them. HBD staking is where it's at right now. You just can't beat that 20%! Most of the DeFi stuff I do these days happens on the Hive chain through beeswap.
Thanks for the feedback! Your traditional investments at 7-12% are huge, congratulations. And for the 20% HBD, yes, I haven't found better haha 😉
Must be yummy!!!
So delicious!
I hope it was as delicious as you say. that seems like a lot to me but then again I live in Vietnam so everything seems expensive to me :)
It's pretty expensive yeah. Especially when you consider you are paying for the bone too. Part of the reason I haven't had a porterhouse in probably 10 years. Usually I get a pack of New York strips from Costco and they come out to about $10 per pound, so $50 for four or five steaks.
I suppose the reason why I don't pay that much for steaks is because we don't really have access to high quality beef over here and if you do find it you kind of have to take their word in its origin and i've been told they frequently lie and say a steak is from USA when it was actually from Russia. Another issue is that very few people have grills because most people live in condos and grills are banned unless you want to lug it all the way down to the street and use it there. Hell, gas stoves aren't even allowed here and all we have is induction, which seems nice because you can't burn yourself but it absolutely sucks for carefully controlling temperature.
I stay away from "stakes" unless I am dining out for the most part and even then it is a bit of a gamble.
That makes sense. I would worry about that too I think. I just got some beef from my cousin who raises cows a couple months ago. It's amazing the difference in freshness even between that and the stuff you get in the store. I've been reading a lot about how Costco blade tenderize their meat (which apparently allows for the introduction of more bacteria), so I've been trying to hold off on buying my steaks from them as much.
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STOPor to resume write a wordSTARTThe steak looks yummy and good and it's clear you enjoyed yourselves. You metal portfolio isn't bad at all, I guess you will hold the shares and sell later when the prices appreciate much better. Have a great weekend.
That's the plan with the stock I guess!
I don't mess with them metals stocks but perhaps I will reconsider in the future I prefer the physical metals over mining stocks !BBH
I do too, but it was some leftover money I had in my Robinhood account.
GameStop earnings? 🤣 !BBH
I wish! I missed that whole fiasco.
@bozz! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @bitcoinman. (8/50)
It has been ages since I bought a porterhouse. You've given me an idea for dinner this week. My wife likes the filet and I like the strip.. so all is good. Looks like you picked up a good cut and the sides looked amazing as well.
I'm mostly staked and we'll see how we make out in the long haul.
As far as Wall Street goes, I'm not doing too bad. I made a few moves back into Tech and am ready for the Bull run there. Maybe early summer but if not late 2024 into 2025. I am planning on sitting tight on most of those moves. At least for another 5-10 years.
Enjoy your Sunday!
Yeah, I am kind of in the same space. My traditional investments are more of a set it and forget it sort of thing with my mutual funds. I have a handful of individual sticks that I keep an eye on.
Looks delicious !PGM
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Thanks, I was really happy with how it turned out.
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Wow, looks terrific!
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