We’re gearing up for CryptoCoinCon this weekend in Valley Forge, PA, and since we’re overdue for an update I wanted to get a post out before we head out.
As they say, everyone is a genius in a bull market, and this bear market has given us ample opportunity to focus on the tech. We’ve (temporarily) ceased active trading, setup passive income growth with a masternode, and been actively building community with a small coin fork to hone our development chops.
We’ve refrained from all trading the last two months. After failing to hold to our 2% risk management rule with our holdings on IDEX (AURA and SEN), we decided that it wouldn’t be appropriate to continue until these open positions returned to profitability. We did have a nice gain on ZRX that closed in early July, but were offset by a stopped-out position in BNB.
We setup our first masternode (MN) in early July, finally picking XDNA after several weeks of research. We gave a presentation on MN at the July Blockheads meetup, and we’ll expand the discussion on the experience at a later date.
Measured in USD, our mining portfolio for July and August so far hasn’t quite made up for June, but the last 90 days have been profitable, BTC-wise.
PennyKoin (PK) is going to get a full write up here at some point, a lot of our attention has been on this one over the last month or so. For now we’ll say that it’s a CryptoNote fork run by a solo developer, and we’ve now functioning as one of the core devs/community leaders. We’ve setup a mining pool and block explorer, and have even contributed to the project’s Github. It’s also inspired a related software development project that has income potential, and we’ve learned so much about blockchains while debugging the code.
We also spent a couple weeks mining TUBE, the token for BitTube, a decentralized YouTube clone that looks really interesting, but we’ve since switched back over to our profit-switching pool of choice, MiningPoolHub.