Alright lets get down to the nitty gritty

So how do you plan to make money, so that I can make money and party with hookers and blow?

I will invest in a PoW/PoS coin. I will first purchase the coin, then mine it using whatever rigs I have available at the time, stake some coins and when the time comes, sell at a profit.

So what coin will you be looking at?

Hobonickel. Reasons are it's a PoW/PoS coin with moderate nethash. 2% stake every 10 days, decent market cap and strong dev. Plenty of room for growth.

So whats the plan?

My goal is to increase my position in Hobonickel. I will do this by purchasing HBN on Cryptsy. I am actually doing this now as I type this. I have placed a bid and people are selling to me. Then I will point my miner to a hbn pool. lastly I will move the coins to my wallet to stake coins. Once I have enough coins and positive gains, I will move the coins back to Cryptsy and sell at a profit.

If you don't have a mining rig, don't sweat, you can rent one out. rates are decent and competitive. I actually have rented scrypt-mining rigs on this forum and haven't had any issues.

Sidenote:

I will not measure my profit in FIAT. This is a big mistake that most rookies in the altgame make. We measure our profits in BTC. The goal is to increase our Assets Under Management. Depending on the size of my position I may need to sell the coins off-exchange as to not affect the price.

Before starting this journal I held ZERO HBN. As of this sentence I hold:

436.801357 HBN

This is the HBN address I will be moving the coins to

F279k6BLzn9YPh2ARx35jo2HPLJL2S8cHr

you can moniter my progress using a block explorer.

My miner is hashing away at http://hbn.smartmining.net

Hopefully i can learn from your journal and stop losing money to scams

Simply don't invest into any Altcoin IPO BTC "scam". You are good to go. Nothing to learn really

Hi Tokyoghetto

Could you please let me know where I can reliably rent Scrypt rigs?

I'm following your journal too - great idea!

Sorry for the lack of posting. I wanted to wait until I staked my first HBN before I gave an update. Well basically the HBN investment fund is sitting at 15599.275075 HBN

the block explorer doesn't seem to be working but here are the buys from cryptsy. The reason why I got so aggressive with my position is because I noticed something with HBN. Even though there is plenty of HBN is being mined, hardly any of it hits the exchange. I also noticed the same miners on HBN, very few pool hoppers. So these miners are actually just mining and holding HBN, not mining and dumping.

The reason for this is simple. You want your money to work for you. I am sure that those miners/investors have done the math and have come to the same conclusion as me. A healthy 2% return every ten days just to hold coins is pretty sweet!. The best part is that HBN is stable. excluding the first couple days when it was first listed, HBN has been VERY stable in price. I can hold HBN and stake coins while I mine other coins. If I ever need to increase my position on HBN, I can just point a miner at a HBN pool or buy HBN on cryptsy.

The goal is 10% but the holy grail is generating passive income. Think of your main HBN stash as a house you own. The income generated from PoS mining is the rent money you get from tenants.

lets do some math.

15599.275075 x 2% every ten days = 311.9 HBN
311.9 HBN x 0.00005083 BTC (current buy price on cryptsy) = 0.01576071 BTC

0.01576071 BTC x 856 CAD (cavirtex.com) = $13.49 CAD.

that equals to 24 hours of mining using approx. 1500khash. Not bad at all. All I have to do is open my wallet, let the cpu miner do its thing and BOOM it rains Hobonickels.

I also have my initial equity of 15599 HBN which is worth 0.792897170 BTC

And that is every ten days! The best part is scalability. If you can manage to accumulate 155990 HBN, then the stake for every ten days using today's exchange rate is $134 CAD. That is more than what most people make in a day working a 9-5 job.

For a coin with a solid dev, dedicated miners, and generous PoS minting, hobonickel is that diamond in the rough. The low network hash just lets you know that HBN has been overlooked by the majority of people. I should be minting my first PoS block in the next couple of days, I will update you guys then with the exact result.

One last thing.

"moneysupply" : 2591676.42525500

Only 2.5 mil HBN exist. Keep that in mind.

Tranz is an awesome dev. He helped out with ADT at a time when most devs avoided it like the plague. He puts in an insane amount of work into hobonickel. Please feel free to donate to Tranz so that he may continue his great work with Hobonickel.

HBN has good devs indeed. Also I'm curious how this will unfold.

Would you want leave those 300 where they are, or move them around with some other freshly staked blocks for better gains?

Will sending deposits to the same address reset the stake?  Or can I gradually add to one address in the wallet.  How does a stake work?  Do I leave my wallet open all the time?