Tuesday, July 27, 2021

I am done.

I am done. I have been a member of this board for several months. I was extremely active at first because this was another source of information to keep me up to date with what was my favorite asset to own within my portfolio. I stepped away from this subreddit for a while because it got annoying. Mainly because, I had to deal with kids who would constantly spam posts about "short squeezes" not only on this subreddit but others as well, including WSB. Throughout all that BS, no mods were anywhere to be found... so I took a break.

During my break, several events took place. China announces they are banning all BTC miners... Elon Musk announces he had no idea how much energy BTC really utilized... etc. The last news I recall from SOS was reading they plan to expand to someplace in North America. Can't remember the exact details, but throughout those events, BTC went from its ATHs to as low as 30k sometime last week. Fortunately, momentum returned this week due to Amazon potentially accepting crypto as payment (a rumor they soon denied), but throughout it all, I have come to the conclusion that it's time to part ways with SOS.

A little about my position in SOS, I own a little over 2.5k shares, with an avg cost of $2.40. I didn't sell at 15 mainly because I didn't want to pay taxes (F.U UNCLE SAM). Part of the reason was that I was already paying too much money in taxes because of my career, and the other part was that I became extremely fascinated with SOS business plans in the crypto world. & TBH I didn't really need the money.. if anything I would've just went and put a downpayment on another car, which wouldn't have been the best investment, so throughout it all, I decided to hold.

Today as I am writing this post, I definitely regret not selling at 15 and getting myself a brand new Supra. My motives changed with SOS just when I realized just how dogshit their website looked compared to the other miners. I mean there isn't a webpage that mentions they mine bitcoin/ethereum, how much btc/eth they've mined, hash rate, etc. None of that is there. You look at other bitcoin miners' webpages, not only do they include most of that information, but they will also TELL YOU where their mining facilities are located. This whole BS of keeping it confidential to keep prices competitive for them is complete BS. It sounds like some shit you tell a fucking child.

Although I haven't sold, I have lost over $25K trading options in SOS. I am over that now, but at the time it sure did hurt. Let down during coinbase IPO.. letdown during the announcement of new mining rigs becoming operational, etc. This stock has just been a complete disappointment.

On a more positive note, I have found another BTC miner that utilizes renewable energy and is currently trading under $5 at the time of this post. They have an aesthetically looking website, are COMPLETELY UNDERVALUED compared to big names like MARA & RIOT as this company has mined more BTC than both those companies have for the first 6 months of 2021, not a Chinese miner, and most importantly, low costs compared to its competitors who are trading 6x+ the price. I won't mention this ticker, not because I don't want to "pump" it, but because I want to get in while it's still this CHEAP and undervalued. I am now stuck between selling SOS calls until I get exercised, or just closing my position outright... decisions, decisions.

To all the soldiers that are going to continue to hold, god bless. I truly hope this reaches its potential one day, but I just got tired of mediocrity, the inconsistency to inform investors, and most importantly, that ugly-ass website.


No comments:

Post a Comment