How Are My Investments Doing?

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If you've read my last few posts, in late April/early May I had high hopes of making big bucks.  I had invested $200 each in three "arbitrage" projects, $300 in some bitcoin "miners", and was hoping that the $400 I had put into DeFi pools on ThorWallet were going to turn around, and become profitable again.

So how have things worked out?  The following pic gives a nice visual summary of the status of my "investments":

As it turns out, bitcoin "miners" are simply a Ponzi scheme; I will be lucky to get my $300 back.  With the collapse of the price of crypto, the DeFi pools on ThorWallet have also collapsed.  So far I have only gotten $78 back out of my $400.  And most disturbingly, all three of the "arbitrage" projects turned out to be scams, and quickly rug pulled, taking all their investors' money.  I gave these bastards $600, and only managed to get back $25.  Ouch!!

To add to this misery, my crypto now is worth at best half of what I paid for it, (probably less), and the stock market, where most of my "wealth" resides, has taken a huge belly flop recently.

It's been a pretty terrible year financially, at least so far.

Yes, I realize that now is probably a great time to buy stocks and/or crypto, but as I am married, readily available cash is limited at the moment.  (If you're married, you will immediately understand.  If you're not, I don't think any explanation of this fact will make sense to you.)

The sudden demise of Cryptos OTC was particularly painful for me, as I had expected that platform in particular to be stable, at least for a year or so.  To discover it was simply another DeFi scam was a painful shock.

So what's a novice DeFi investor to do?  Give up on DeFi altogether and crawl back into his room, only keeping money on "safe" bank issued CDs and the like?  Or pick himself up, dust himself off, and try this crazy DeFi game again, knowing full well he could get ripped off once more?

Wacko that I am, I chose the latter option.  I am once again "invested" into DeFi.

I chose two projects, Pegasus and NovaTech.  Pegasus pays a ridiculous 1.5% return PER DAY, and thus most likely is yet another Ponzi scheme.  But to date, I have already gotten back $150 of my initial $355 investment, so it's possible that I will actually turn a profit on Pegasus.

NovaTech is a different story, paying "only" an average of 3% per week on your investment.  But it **appears** to be stable, and if it lasts more than a year, it could be a great way to make passive income.

I am reluctant to push either of these projects because I haven't gotten a positive return on either of them yet, so no referral links here!  Besides, you need at least $300 to join Pegasus, and realistically at least $500 to join NovaTech, so these two projects may not be for everybody.


 


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