It's Saturday again, I'm not sure how it snuck up so fast on me. I had planned to head out to some local garage sales this morning, however, mother nature had other plans. I looked outside when I got up to see nothing but dense fog. I prefer not to drive in conditions like that when avoidable, so those plans will have to wait until next week's sales! By the time the fog will burn off it will be too late to find anything interesting... The true die hard buyers will brave that fog, I guess I'm not one of them!
It's been another lackluster week in the world of crypto, so I really don't even want to talk about the sad Bitcoin and Hive prices. Until we get some action one way or another it's a giant waiting game.
Having met my primary and secondary goals of the year for the Saturday Savers community. Today I'll focus on some second layer tokens on HE and the all important precious metals which are still on fire right now.
GIFU
As I mentioned last week GIFU has been brought back from the dead by @trumpman taking the reigns to resurrect the token. It was a project attached to the ill fated BRO project, but now is in the hands of a good friend of mine. It's interesting in that it's primarily based on the BNB chain and purchases are subject to a 10% burn tax that decrease the overall amount of the token available. It also exists as SWAP.GIFU on Hive Engine which also undergoes frequent burns decreasing the overall token supply. If there is enough demand and the token becomes more scarce through burns it could skyrocket in value. Then again, it might not... This one is a gamble, but I'm buying up some each day on HE, it's not expensive and you never know. It might make us all a lot of money! So far I only have 75K!
So if you are a gambler, this could be a fun play! I'll have to pick up some BNB and get some over on Pancake Swap as well!
Gold and TGLD
Gold is currently sitting at $4,300 per Troy ounce, only $100 off the all time high. We may be seeing a new all time high in the next week or two as gold is in high demand. Governments, corporations, and people are all hording gold due to the economic uncertainty in the world and well as more armed conflicts around the globe. I highly recommend investing in gold (in my non professional opinion) as it's a store of wealth just as it has been throughout human history. You can even buy micro-gold in Goldbacks or 1/2 gram bars, most anyone can invest if you just make the first step and start your gold stack!
TGLD continues to pay out daily dividends in the form of HBD which is always welcome. I usually get $0.008 to $0.01 daily which isn't too bad for my initial investment of $15. It comes out to around 17% which is what was promised, so far so good. That APR was for the presale only, current buyers get 3-6% when they stake their tokens. Not as good as HBD interest, but not bad. Hopefully as gold prices increase so will the price of the tokens and APR as it's pegged to the SPDR GLD fund at a 1:100 ratio.
Other Hive Engine Tokens
I am continuing to pile up my PIMP tokens, it's a great project run by @enginewitty , a cool cat and solid guy. It's backed by physical silver and BTC so it's always going to have value.
I am continuing to delegate to EDSI to earn EDSI tokens every week. I also continue to hold onto my DBOND and DAB tokens. I'm continue to hold onto my PAKX which I feel is a very solid project as well, and provides me with two tip call a day which I enjoy. I do delegate to Leo to earn some LEO tokens, I'm stacking them up for now as they do have a deflationary model now. Hopefully it pays off down the line.
And of course, I continue to pick up some more DUO tokens on a regular basis, and it's my favorite token of them all! It pays daily dividends, allows tipping, and curations on quality posts.
Silver
Silver has had an interesting week. It hit a new all time high of $64 before getting slapped back down by COMEX raising margins on silver to 10% forcing small time speculators to sell. It dropped to $61. But it doesn't change the fact that there is a huge silver shortage in the world and it can't be refined fast enough to keep up with demand. I fully expect to see silver hit $70 by the end of the year, maybe even by Christmas.
From Kitco.com
Silver will bounce back quickly, so it may be a great buying opportunity! If you don't own any silver now would be a great time to start. There are even one gram bars available that most anyone can afford. The premium is high, but it's a way to start investing if you don't have much cash. I've been investing in silver since I was young, and remember when it was only $7 per Troy ounce! The good old days...
From Apmex.com
These one gram bars sell for $4.99 each right now at Apmex, for a random bar. A cheap way to start investing in silver!
That will do it for this weeks #saturdaysavers post here on Hive. I do hope you enjoyed some of my thoughts, and please feel free to leave any comments or questions below. As always thank you so much for all of your support, it's greatly appreciated. Have a great weekend everyone!
References:
https://www.kitco.com/charts/silver
https://www.apmex.com/product/59779/1-gram-silver-bar-secondary-market
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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