and it's for Silver.
This has been a long arduous trip... but could it be at an end? After decades in this formation it appears to have produced a picture perfect technical analysis pattern possibly ready to bust out to the upside. If this tension releases it will be a great surge in prices for this much maligned commodity. And my favorite holding, even through its last 7 year doldrums.
I have been collecting Silver since I was a kid, I am profitable with it due to longevity, but not as profitable as it could be elsewhere. So a new strategy needed to be formed and I think I have it.
Strategy
So if it does indeed break upwards, this is how I plan to take advantage, (but I am on the edge to do this anyway soon no matter where the price goes).
I have loose about 380 ounces that are not in a Treasury Box (some call it a monster box), so with $1.00 premium I can get per ounce at current price it would be $17.33 per coin received. By selling this Silver off and purchasing SALT tokens currently at $3.99 (but with a retail price guarantee on SALT platform of $27.50), that stands for a massive profit to purchase several Treasury Boxes back.
Here is the math:
$17.33 x 380 = $6585.40
$6585.40 / $3.99 = 1,647.40 SALT tokens (apprx)
1647.50 x $27.50 = $45,388.00 SALT Loan potential
$19.33 x 500 = $9,665.00 (Silver buyback with a $3.00 spot on a Treasury Box)
$45,388 / $9,665 = 4.69 (Treasury Boxes)
So if Silver skyrockets
I will make a great deal with this arbitrage of sorts process, if it goes down more, I still would make a huge gain. Now I have discussed this opportunity and arbitrage gains using SALT a few times on this blog. So this post is another one, now I know SALT loans are taking a while to satisfy their demands right now with a back log of 50k - 60k loan requests already in processing. So the timing may be off on all of this, but I will at least have the discounted SALT tokens at a far better price than Silver should climb (if at all) in that time.
- https://steemit.com/cryptocurrency/@kyusho/next-salt-sale
- https://steemit.com/cryptocurrency/@kyusho/salt-revisited
- https://steemit.com/cryptocurrency/@kyusho/arbitrage-201814t52520791z
- https://steemit.com/steemit/@kyusho/i-tripled-my-money-in-one-hour
Shameless Sales Plug - you can use this link to purchase your own SALT
Don't hate on this as we are all here on Steemit to earn... that is why I have added this.
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Image Credit: kimblechartingsolutions, salt, zerohedge