This week I have surpassed 95% of my 200K COTI stake goal and if all goes according to plan this will take another 6 weeks to achieve. This has been a kind of experiment to see what is possible to unlock in dollar value through a 4 year crypto cycle. This is my second biggest stake holding behind HIVE and this is very different as the rewards are only earned via staking and compounding.
This has been loads of fun so this is not really a grind even though the growth does take time. When you have been staking on a certain project for many years the final hurdle will always seem to drag even though you are growing at the same rate throughout. I just think I would like to put this one goal to bed and move on to the next as there are so many other staking opportunities I would like to explore.
The aim is to one day have many staking crypto protocols all supplying a stream generating a passive income. I think over the past 4 years I have realized how difficult this is to achieve and the reality is this is going to take plenty of time.
I have always said that you need to give yourself a minimum of 2 complete 4 year crypto cycles to become established and that number I believe is around $1 million which I do think is realistically possible. Who knows it may take slightly less or more time and it depends on what you have selected as your investment and if the research and time invested pays off. The home work I did on COTI before investing was a good 6 months so this was cherry picked and not a random selection. Our time is too precious too gamble and knowing the cycle is finite we have to try and remove any risks.
As you would expect with any investment especially in crypto things have changed quite drastically from day one and thank fully continuous development has taken place transforming what COTI once was. Moving from a DAG to becoming an Ethereum layer 2 token was a big shift plus the addition of the Garbled Circuits which is an encrypted technology that ensures privacy. This new tech has bought COTI into the lime light which should secure it's future as one of the dominant crypto's and who knows possibly a top 20 or 30 by market cap through adoption. This would value COTI at around $2 which is my low estimate and would be happy with that out come.
The target I have in my head as a passive income stream is still the $10K mark and if it takes another 4 year crypto cycle to unlock then so be it. Just the COTI hitting the $2 price would offer a $5K monthly income stream so adding a few others earning crypto daily via their stake and I think this is now more of a definite probability and not a 50/50 to achieve this number.
The 70 or so COTI being earned daily needs to rise to around 100 before I am comfortable with the staking number so once the 200K target is reached I will let this continue to grow compounding the rewards regularly which should grow the daily reward number.