The other day I had a conundrum where the wife was asking me "So When can I spend some of this magical internet money" and all I could say was "Not Yet"
But this got me thinking, if I'm holding all these coins what am I aiming for, whats the goal?
I don't expect to be a billionaire, or be driving around in those horrible Italian sports cars, but I do have some simple goals that will make it all worth while.
So this is what I plan on doing and how I can gain real world value for my coins.
The goals I aim to have crypto cover are as follow: Clear Mortgage, Clear all school fees, build a pool, various projects around house, retirement fund. So obviously each of these have a fairly known value, so I'm separating those values out and putting each item to an individual coin.
So if the portfolio I currently have, here is the current split and what they are being used for.
Steem - Retirement Fund
Power Ledger - Clear Mortatge
Ethos - School Fees
Verge - Pool
EOS - House Project 3
Bitshares - House Project 1
Horizon State - House Project 2
Bitdegree - ?????
Bankera- ??????
So how do I come up with this?? I'm not just pulling this out of my ass. The idea is to look at the reasonable perceived future value. Then with the coins I currently have will the volume cover the required costs of the projects? So for example, with Verge I currently hold about 5000 coins, and I honestly believe that this coin could reasonably reach $10-$15 in the next 12-18 months. So that gives me the $50-75K that would be required to build my pool and do all the subsequent jobs that that entails. So instead of holding forever and ever and never actually getting anything, I know that when this coin hits that value I sell and go do something of benefit to the family.
The same is true with the mortgage and school fees etc, if I can pay those off in bulk hits, that means I will have more liquid cash that I can invest further into new cryptos and then in the second round of wealth building that may make those millions and get those horrible Italian Sports cars.
