The end is here

Round 29 ended today and with it the unbelievably generous payouts. My final round 29 generated shares have all matured and have been sent on to be either invested in some way or ultimately traded out for fiat. I can already tell the difference between round 29 and round 30. Two hundred and nine blocks into round 30 has only produced three sets of 45,000 generated Devcoin babies waiting to grow up. Yes, the end has come. The end is here.

This morning when the last of my round 29 Devcoins matured I sent three quarters of them to Vircurex to trade into Bitcoin, then onto Camp BX to trade into fiat. The amount of fiat I’ve been able to get from just one week of round 29 largess has been enough to make this whole cryptocurrency venture well worth it. And it came at just the right time too. Thanks to cryptos I was able to add to the down payment on our new family vehicle and reduce the car payments. It is my hope that future generous rounds will allow me to pay it off early. It is my hope that future generous rounds will allow me to pay off all our debts once and for all.

But in the mean time I must start off 2014 with my worst paying round ever. I am more motivated than ever to write so that round 31 will be a better one for me. But finding time to write has been tough. Believing that I could actually earn a substantial living through writing has been even tougher. Perhaps it’s the whole crypto intermediary that makes it more like a bizarre dream.

I have other clients that I write for who pay me in cryptocurrency, mostly Bitcoin. So I finally do write for Bitcoin. I have also had clients who have paid me in fiat. It’s been kind of amazing to me how easy it has been in the cryptoworld to make connections with people and then end up writing for them. No contracts, no invoices, no complications. We agree on a price by email, I write the content and then I get paid. This leads to very low overhead costs, financially and emotionally. I’m not spending a lot of time managing my writing business. I actually get to write. It’s refreshingly simple. It strikes me that this is more the way doing business ought to be. The fiat world involves incomprehensible contracts and terms of service that you glibly agree to without actually reading. You don’t bother reading them because you’ve already decided you’re going to go for it based on your gut feeling and initial research. In the cryptoworld that’s enough. Networking to profitable ends has been easier too. So far all it’s taken has been an email or message just letting someone know that I’m a freelance writer and they’re welcome to hit me up if they need someone to write content. No need for a resume or portfolio, though I wouldn’t begrudge providing those things upon request.

I’m going to need all the additional clients I can get to tide me over during round 30. However I need to make sure working for these clients doesn’t completely crowd out writing for the Devtome. The Devtome is the sort of client that can be easily neglected because the parameters are so broad and it’s very easy to meet the writing expectations. But too much of that kind of neglect and the earnings are slim six weeks later. And it’s also true, at least at today’s exchange rates, that the Devtome is the highest paying client around by a long shot. Rule number one with the Devtome is just keep writing.

I’m also grateful for other successful investments during this thin time. CEX is doing really well. I reinvest half of my Bitcoin profits, but I still get out around 0.02 BTC worth every day, sometimes every other day. VIRTUAL MINING shares are also doing well. The upcoming dividend payment is reported to be a two for one payment. I was certainly happy with this past month’s two for one payment so am looking forward to a similar payment in about a month. And the small but steady daily dividend I get from the P2PDVC bond has been adding up as well. I won’t be without either Bitcoins or Devcoins in January. I just expect to have fewer of them.

On the bright side, I believe I have flushed out most of the bad investments from my portfolio. I recently had to sell the DVC denominated ASIC MINER shares I owned at a loss because those who had listed the shares had not paid out a dividend since the end of October. When the price of Devcoin went up I decided I was not interested in taking a much reduced dividend payout (it was based on the Bitcoin/Devcoin exchange rate) if one were to be paid out at all, so I sold those shares off, and I believe the proceeds ended up going towards mining.

I’ve pretty much given up on ever getting a response back from TradeFortress on my CoinLenders balance. It doesn’t hurt quite as much to count it lost as it did when the theft first occurred because that amount no longer makes up such a huge portion of my Bitcoin holdings. It was another expensive but useful learning experience. Without it I might never have given CEX a chance. Even with ever increasing mining difficulties, the return I get on the same amount invested as I had when my CL balance was at its highest is orders of magnitude better. I can cash out up to 0.05 BTC every day or every other day, and that’s only half of what gets mined. The other half goes back into buying more GHS.

I also might have never given BTCJam a chance had it not been for the CoinLenders debacle. I am now enjoying the joys of loaning out money and having borrowers make payments with interest back to me. So far I have not had a loan go bad, but I’ve also pretty much stuck with the A and B borrowers with positive feedback. The borrowers I have had great experiences with so far are CintronDigital, Really Reliable Richard, marcopolorezende, Martin78a, and VictorBC. There are others who I’m taking a chance on and who so far are coming through. I’m also starting to enjoy the social networking aspect of BTCJam where borrowers and investors can communicate about the loans and what the loans are funding, and even exchange other types of services that are relevant but not directly related to funding loans. I still need to figure out exactly how to best approach profit taking from BTCJam–so far I’ve just reinvested all the funds–but it’s looking like it has good potential to provide me with another little income stream. Many of the loans I fund are for people who engage in trading of various kinds–so far I’ve funded people who’ve traded on Cryptsy and CEX but I believe I’ve also helped people who day trade Bitcoins and fiat as well. This is great because one thing that is definitely ending for me, even before it seriously began, is day trading. I simply do not have the time. By loaning to people who do day trade, I can still benefit from it.

In the mean time, I have a couple more weeks in which to write, write, write. Although ultimately my goal is to not need the Devtome or any client, but to have all I need coming in through investments, I still want to make round 31 a much higher yielding round than the current one.

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