If May was bad for crypto markets, then June was completely horrible. We’ve seen USD drawdowns of around 35% in both our long term holdings and mining accounts, but have managed to hold some water, in BTC terms, with our active trading account. The real silver lining has been that we’ve been able to focus more on tech, continuing progress on our trade planning and management package, as well as starting a new project that involves our own ERC20 and 721 tokens. While the past few months have been painful, we’ve been working hard and aren’t rekt yet!
Tag: RVN
SpecMining update for April
It’s been almost two months since our last activity report and we’ve been very productive. Our current mining portfolio is current split among the following projects:
43% Raven (RVN)
40% Haven (XHV)
5% ZCash (ZEC)
5% ZCoin (XZC)
4% Monero (XMR)
3% Other
We are holding to our original plan to hold all mining proceeds for the first 6 months of activity. We continue to monitor our holdings in USD and BTC amounts and are working on tracking various metrics associated with returns on capital investment.
Haven
We started mining Haven Protocol (XHV) shortly after our last update. This decision was based on a few tips from prominent crypto-mining personality @notsofast. The project is a Monero fork that has an interesting plan to create a crypto that is resistant to price fluctuations. Instead of trying to create a stable coin, the goal is to use a special smart contract that will allow token holders to preserve their holdings, based on the USD price of the token at the time it is offshored. When token users decide to pull their funds out of this offshore account, they’ll be compensated with whatever amount of XHV is needed to match their original USD amount. Obviously there a lot of details to work out, but we saw this as a good project to throw our hashpower at, seeing as how our general portfolio was heavily weighted in Ravencoin (RVN) and we needed to diversify. XHV’s price range has fluctuated between the $2-6 range since we started accumulating.
Raven
We switched our hashing over to RVN for a few weeks while XHV was pumping. We are still holding our entire mining haul and have not sold any of our proceeds. RVN’s price has fluctuated between $0.02 and 0.048 over the past two months.
In like a lion…
March is almost out the door, and what an up and down it’s been. We survived a crazy ZClassic fork, started mining RavenCoin and have been looking at ways to set up our first masternode as price action in the markets have been all over the map.