All In On SPS - 400k Staked

 

Around 1-2 months ago I decided to focus on LAND and SPS

My cards were mediocre; I was playing in gold/silver, but to be honest the rewards were not all too great, especially considering the time it took to earn them. I briefly took advantage of the XBOT frenzy and while I was about to start learning from the AI choices it made for me, we got the Modern Bot Ban (and battle helper) passed shortly thereafter. Overall I think this is a great development as it became completely pointless "playing" the game. Nevertheless I decided to at least for the time being to stop playing the game and focus on LAND and SPS.

It is too early to say if this was a good choice, but it seems to me a no brainer to buy SPS now at rock bottom levels. I think after 2 years of going down we should start seeing some positive development and much is already happening with the DAO hiring @clayboyn and focusing on bringing value to the token. And then there is of course LAND 1.5 which is basically now confirmed to come out between the 13th and 17th of November. I don't see a scenario where SPS dumps on that development (unless we get some more layoffs, lol). I think buying into SPS now could lead to some significant gains over the next year or so as it does have the potential to go to $1+ again.

Since setting out these goals I grew my SPS stake from 170k to 400k which sounds like a lot, but in terms of $ value it's a drip in the bucket (for most people in e.g. the US). It's "only" around $5.5k and it shows just how "easy" it is to pick up some cheap SPS now. It's really quite humbling really; I bought around $9k of SPS back in the early days at an average of around 40 cents or so. OUCH! I guess I almost have to buy into SPS now to have any hope of making back those losses. What I didn't realize back then was just how much SPS' inflation was/is. While we are down to now "only" around 650k/day, it is still a lot. But then again, with LAND 1.5 and 1.6 we are almost guaranteed to get the flywheel going. Unless, of course LAND flops which it always can.

Chart

The chart looks quite good; price is "itching" to break out of the falling wedge and historically whenever it did this it lead to at least a 50% growth. If we don't fall back into this dreaded wedge, this could be an amazing buying opportunity.

Since July volume has picked up a lot on Gate.io; together with a falling price this is clearly a bullish sign. The remarkable thing is just how evenly volume grew which suggests to me that there is a lot of buying going on, preventing price from falling below 1.3 cents. It is really comical just how low SPS has fallen. Is it worth the risk to "gamble" that price will go back to 10 cents or even $1 again? Personally, I think so. You'll have to judge that for yourself of course.

 

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As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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