Optimism : A Recovery is Possible - Part II
Wallet/Portfolio Review (Week 12/52)
📟 Disclaimer
I am not a financial advisor, and nothing I say in this substack is financial advice.
This is all educational content you can use as a starting off point for your own research initiatives. I’m just another random individual who started a substack ‘cause I think I have something to share with you all’. 🤷
That said, if you’d like to know a bit about me and are wondering why you should listen to me, read this intro post I wrote 🙌
🧾 File Your Crypto Taxes W/Koinly
As we are approaching year-end, it’s considered good practice to realize your gains/losses and calculate amount owing or losses you can use for Tax-loss-harvesting.
Many will find themselves in a precarious situation as this might be their first time reporting crypto taxes. If you are unsure how to proceed, look no further than Koinly!
Also, feel free to ask questions in the comments below, I’ll do my best to guide you to helpful resources.
Report Your Crypto Holdings, weather it be Exchanges or Self Custody Wallets, Calculate how much you owe, with a hassle free process and pay Uncle Sam their share to avoid unnecessary Dues/Penalties.
📣 Weekly Highlights:
Last week we speculated on Jerome Powell’s dovish language when he spoke at The Brookings Institute on economic outlook — 11/30/22.
We wondered if this meant lower interest rates ahead/perhaps even rate cuts in the future.
The FOMC seems likely to raise interest rates by 50 basis points (bps) in December after four consecutive rate hikes of 75 bps a piece over the past five months. Can’t say anything for sure i suppose, let’s see what comes of it.
Analysts/Forecasters are also leaning towards 0.50% hike as well.
New inflation data is due 8:30AM EST Tomorrow morning (Dec 13th), and the Federal Reserve's final meeting of the year kicks off.
Meaning, if inflation comes in lower than expected tomorrow, and the FOMC confirms a 50bps hike, i’d feel comfortable saying we’ll have a Santa Rally and this uptrend could last until Mid January.
As the FOMC won’t meet again until the First Week of February.
🚨 FTX Saga
SBF continues his apology tour on various news outlets and twitter spaces.
To be absolutely honest I don’t want to give this story any more attention (not that I have massive reach or anything).
I am quite frustrated that the so called authorities and “Qualified Journalists” have managed to do nothing but, write puff pieces on this boy.
Shoutout to CoffeeZilla, He was the only one who was able to get on SBFs nerves. I’d give this thread a read, if you have a few moments to spare:
Post Upload Addition:
Well, as soon as i posted my S#!t Post, news came out that SBF has been arrested by Bahamian Authorities and should a request be made to extradite said individual (SBF), they will process it promptly!
It seems i was wrong on judging law enforcement officials, they’ve made a move, let’s see where the story goes from here! Perhaps NYTs Salvation.
📸 Caroline was spotted at a cafe in New York.
Most folks are speculating that she could be cooperating with the FBI & perhaps other Law Enforcement Authorities & Agencies to secure Immunity.
Many have contemplated that there’s a lot that can come out in the coming months. Tether FUD, Binance FUD, every shady aspect could get exposed.
This will likely go to trial at some point and should(As many have lost their life savings and some gave up on their lives completely).
Caroline will have to take the stand and under oath she will likely expose sam completely.
🎉 My First Semi-viral Tweet:
It’s not even about crypto xD, it’s more so about my life from ole IT help desk days.
I also managed to do a $100 giveaway this week, I really really hope I did not end up picking a bot 🤖!
It looked like they were a giveaway farmer but, the randomizer picked them and they passed captcha’s and humanity checks. I hope they turn out to be half-decent and that money helped someone.
🧐 How did I end up with $100 extra to do a giveaway? Why did i do a giveaway? Why not keep it for myself?
Firstly, I felt that the last month was horrific for the crypto community.
Luckily, my portfolio did alright, and I was able to exit without much pain and renter into semi-decent(ish) strategies. You can Track it all starting from week 7.
🤖 Secondly, Meet Jarvis!
Jarvis does all the Real-Trading Around here, Jarvis is a project of mine, that’s “In-the-works”, I’m trying to build a trading bot that does all the trading for me.
I’m currently in the process of training Jarvis with ML Classifier and Regression models. Meaning, I am teaching Jarvis my trading patterns and feeding him basic buy/sell signals. So it can trade on it’s own.
Jarvis had some profits. So i figured i’d start this project with a good deed!
Meaning; giving away Jarvis’ First profits!
When I was a kid, my parents used to say; Whenever you start a business or endeavour, you should donate your first profits!
Don’t get me wrong, I’m not a superstitious person but, if there was ever a moment to honour their teachings, I figured this was it. Plus I get some free followers and likes on twitter and ironically ‘tis the season of giving! 🙈.
👛 Wallet Review
This wallet review is a recurring post. The aim is to post an official update every Monday and see how far I can grow this little stash by week 52.
As of December 12th, 12:00 UTC this tiny stash of mine sits at a modest value of $1015 USD, dubbed week 11 closing balance & week 12 opening balance.
Note: I’ve started using Zapper.fi instead of Debank.com as my daily portfolio tracker, it’s good to change things up every now and then and Zapper includes my NFTs in total portfolio value 😜
🏅 My Top 3 Investments
🦄 Uniswap (ETH/USDC LP pool)
🧮 Polynomial (Automated Strategy ETH Put-Selling - 🐂 Bullish Positions)
🏦 Synthetix (SNX Collateral and sUSD Loans)
Honorary mentions:
GMX (Decentralized Leverage Trading)
Brahma vaults (Automated, Matic-Trading Strategy)
🦄 ETH/USDC Uniswap Liquidity Pool
This LP position is still my largest position. I harvested $5 rewards last week and, as of today, i’ve already earned another $0.60.
As long as it trades in the $988 to $1800 range, I’ll keep collecting trading fees in accordance with my share of the Liquidity Pool. As of now, i have no plans to allocate this capital elsewhere, I might reallocate as other opportunities become clear.
🧮 Polynomial.fi Automated Strategy Vaults
Last week I said, I will consider exiting my call selling vaults and I did just that and I entered into put selling vaults (Meaning I’m optimistic that we’ll have an uptrend the next few weeks).
I’ve decided to change from Call Selling to Put Selling, in hopes of a .50Bps Rate Hike, Post-FOMC meeting (December 13-14th).
Besides these two items, everything else was left as is! no further adjustments were made to my Portfolio.
As of now, like everyone else, i’m waiting on the Inflation numbers. Keep an eye out on my twitter folks, This is turning out to be quite the week!
🪤 Outro
Of course, it goes without saying but bears repeating that nothing I say or share here is financial advice. I’m just another random individual starting a substack ‘cause I think I have something to share with you all’. 🤷
Also, like many individuals who are doing this for a living I also am a humble penniless fool. So, if you are a kind, bountiful, and gifted individual who has benefited from this S#!t Postery and wish to buy this S#!t Poster of yours a coffee, Some drip money would definitely be appreciated and will help to keep my fingers going on this mechanical keyboard of mine.
You can donate whatever you think is right at this address: shitcoinornot.eth :)