Alright fellow HBN Journal readers, here is the end of the month wrap up for April.
April:PoS coins mined: 7303.151199 HBN
Orphans: stopped counting
Biggest PoS block: 363.978916 HBN
Year Total:PoS coins mined: 20412.583048 HBN
Orphans: no clue
Biggest PoS block: 874.411018 HBN
Account Size:96335.042617 HBN
I am a couple thousand coins shy of my 100,000 HBN goal. I should achieve that goal during the month of May. After which I will start cashing out on some PoS coins and start realizing gains. My confidence in HBN has grown this past month. The reasons are as follows:
Compound Interest and Maintaining Discipline: It seems like holding tight and using compound interest is working to my benefit. I am minting a lot more coins as the months progress. Using coin-control to combine blocks as soon as they are minted has allowed me to really maximize my PoS mining. It takes a bit of work but its worth it. Also having the discipline to not panic sell at every little pump in price is really building up my confidence for when HBN really increases in price and I start to see bigger swings in my PnL (Profits and Loss).
HBN Pump and Hold: Project_Pump targeted HBN for a pump during the month of April. The price got pretty high and the market was unable to sustain it. However, the price did pull back and stabilize higher then what the price was before the pump. I would call this a Pump and Hold. A pump that results in higher prices is alot better than a pump that results in lower prices.
Asiacoin Scam I was a victim of the Asiacoin scam. Right now I am at a loss of 2.5 BTC, however that can change around as AC is being revived as I type this. So how does that relate to HBN? Well, its important to know who is really behind the coin you are investing. Scamcoin devs only reinforce the need to do due diligence when it comes to what coins to invest in, which brings me to my last point.
Strong HBN DevI honestly can't give Tranz enough praise. My mind was blown when I learned four things about Tranz this past month.
- he has a 2 year plan with HBN and is confident he is 25% done with his development of HBN. Multiple-wallets, coin-control and Rasp Pi support are just some of the few things Tranz has implemented in HBN. I can't wait to see what else he has in store for HBN.
- he has made it clear that he will not take donations for all his hard work. I believe he uses any development funds to help the network by setting up VPS nodes for HBN to help with decentralization.
- Although he is 100% committed to HBN, he is willing to help other coin devs as well, one example is Tekcoin.
- He has given away over 100,000 HBN out of his own pocket, and has sold HBN at below market prices to help investors get in the game.
Most scamcoin devs have no long term plan, ask for bounties before a single coin is minted and will most likely run away with premines. The difference is night and day.
Final thoughtThe lesson for the month of April is diversification. Although I got burned on Asiacoin, I was diversified enough that it doesn't really hurt my overall portfolio. Going through the Asiacoin thread all you see is people claiming that they went all in on Asiacoin, with satoshis that took them months to mine. I got a tiny flesh-wound, others got disemboweled.
I suggest that people really look into diversification for asset protection. When it comes to investing in coins like HBN, try to spread out your bankroll into a basket of healthy PoS/PoW coins. Since this is a HBN Journal I am not going to promote other coins but if you spend 5 mins researching its easy to see which coins really stand out.
Here is to a prosperous May!