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Just want to preface this that I am happy for every who has held and is making some value back.
This is for the people who may not have understood Dual Investment or want to understand before they try it.
2 days ago I decided to try my first DI. Rates were high so I contributed just under 62k lrc. Which I had bought last year some time near the $1.20 mark and higher.
I entered into a Lrc- usdt agreement at .26c when lrc was around .25c.
It hit and surpassed that in the locked in settlement period. All the way up to approx .40c where is sits now.
So for the $18 I made on the DI, that usdt would now only be able to buy approx 40k lrc. So a loss of 22k lrc... Or a purchase price of around $26,400....
18$ > -26,400
They say "it's not a loss until you sell" so for the people who don't quite understand the DI option IS A SALE.( Or a swap but essentially the same thing )
Feeling burnt and like an idiot but hopefully this can help someone else before they also make a mistake.
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- 2 years ago
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