MultiHodl bets and the psychology of risk in crypto

I wanted to start writing a post about how to get out of bad bets. But instead I read some articles about risk psychology and I think that’s the best way to explain why we end up loosing many not only on betting, but in investing on general.
The best advice I can give on YouHodler Multi HODL up bets on crypto like Bitcoin or Ethereum is that you need to be patient. And unless you made a very bad choice, like at the top before there is price correction, you should always wait and get out in the winning side. Now if you are not patient enough is better you don’t use Multi HODL because you can loose a lot of money with fear of losing or FOMO bets (Fear of missing out)
Make a technical analysis and a plan. Stick to it and be patient.
Crypto mostly goes up except on special days where it can have big correction

In my personal opinion what plays mostly against a good bet or investment is impatience, fear to loose, and being too emotional. Actually if you want to be a good player when making a bet, you need to learn to use that feelings on your side, but naturally this forces play against you. You could wait some minutes more and get out of the bet 10% higher, but you could not stand the first two red candles and got out before time, and like this multiple different variations that are in the history of my bad bets.
Risk-taking behavior refers to situations in which a decision is made whose consequences depend on the outcomes of future events. Events that we study previously and are quite sure that go in one direction. But even the most perfect analyst can make a bad guess and the top of that the prices of Cryptocurrency are influenced by so many things with many big players and institutions buying and selling millions that the most bully upwards run can end up in a scary downfall at any moment of the day. Unpredictable.
To resume it in a few words the fact is that most of the time our knowledge of probabilities is far from exact. We can study the last movement days, draw on the chart and make prediction lines, even read analysis of experts that are years studying this markets and still with all this information we can fail. Because behind the visualization of a stock price chart there is a billion dollars market, with humans taking decisions all over the world, updating that price movements. It’s not humanly possible to predict what will be the direction for the next days, not to say hours. We can estimate it, but then the prices can give us a cold bath of reality when the outcome is much different from our prediction.

The experimentalist’s view

Psychologists Kahneman and Tversky in 1979 asked subjects questions similar to this:
Which would you rather have, $3,000 for sure or an 80% chance of winning $4,000?
Most subjects prefer the $3,000 for sure even though the expected value of the gamble is higher:
0.80 x $4,000 = $3,200.

This kind of preferences are conventionally labeled “risk aversion” as are preferences favoring a 90% chance of winning $3000 over a 45% chance of winning $6000.
In my personal case I would for sure prefer the 3K since I have sometimes such a luck that I will fall in the 20% and get out with my empty hands.
There are many different theories among experimentalist’s about this. The portfolio theory is based on the premise that choices among risks reflect a compromise between maximizing expected value and achieving an individually determined ideal level of risk.
In the utility theory, subjects are assumed to “compute” something similar to an expected value, but instead of using the objective cryptocurrency amounts, they operate on subjective amounts. One that used this concept wisely was Daniel Bernoulli who said that the value of money is not absolute, but depends on how much one has already:

Any increase in wealth, no matter how insignificant, will always result in an increase in utility which is inversely proportionate to the quantity of goods already possessed

Bernoulli (1967)

An alternative explanation for risk aversion can be found in the idea that decision makers pay differential attention to the best and worst outcomes in gambles.

A Two-Factor Theory for Risky Choice
Behavior has both inner and outer sources. We are disposed by our unique constitutions and histories to behave in certain ways, and each person has an unique approach when it comes to making a bet or investment. Two-factor theory uses both a dispositional factor and a situational factor to explain risky choice. The dispositional factor describes the underlying motives that dispose people to be generally oriented to achieving security (i.e., risk averse in conventional terminology) or to exploiting potential (i.e., risk seeking in conventional terminology). These factors are sometimes in conflict and sometimes in concert, producing complex patterns of behavior in which risk averse choices and risk seeking choices exist side by side in the same individual’s behavior [Lola Popes, see references at the end of this post]

How to get the most of MultiHodl bets

I wrote already about the MultiHodl bets in my last blog post. Multi HODL is an innovative tool to bet on price changes on Crypto assets invented by
My theory is many failed bets have something in common:
That we were not patient enough to wait until is in the winning side.

You may say, yeah! Right, but I was losing 20% of my bet… Sure I completely understand that and I also losed more than 20% on my own bets for that same reason.
Talking frankly there is two ways of getting out of a bad bet. Let’s say that you analyze the past days, have the bottom and top of the mountain tracked, and you think that it effectively is going up.
So you place a 300 € bet that is going UP, risk level X8, so there is some place for failure (As more X risk level the margin call is reduced) Well it starts go in the direction you think, but after 3 minutes, it starts going down.

After studying the past this was the logical curse of the price. Slide the image below to see what happened

This is an example of a real bet. Is not a simulation. Because of the fear that the never ending going down red line for 2 hours and not getting out to cut out looses short, you end up getting out in the worst place of all!

60 € lost just because lost hope and fear that all will be lost

This fear is just not grounded! It’s just fabricated since after seeing this long red candles down after such a long time, you just loose all hope. This is not the way to do a right bet.
In case your prediction does not go as expected you have 2 options:

  1. Cut your losses short, so if the curve does not go as you expected, you cut loose at 5% max very closely to the start.
  2. Do not loose the hope, stay cold as a rock, and wait until the price goes up again and you can get out in the winning side.

But staying in the middle of this two is not a sane option and the way you can loose a lot of money.
Cut your looses short and keep your winnings at large!

To end up the story, I recovered that 60€ doing another 8 bets of about 9€ gain each. It can take many bets to recover from a very bad bet.
Another good option is to make a “seed bet” of minimum amount, like 60 €, with low risk and only after seeing your theory is like expected then you make the bigger bet. Remember that the starting point is the key for a good bet. The ideal kickoff is a MultiHodl UP bet in the base from the mountain after analyzing the past days lowest points.
But even like that things can get tricky so have an escape plan ready. If things drift from your prediction an unacceptable % you either cut your looses very short and assume the loss or you are patient and strong enough not to loose the hope and get out in the gain side. Believe me, most of the bets, could have gone right if the holding was long enough but instead I freaked out and got out in the bet in the worst moment.
But either 1 or 2 you don’t stay in the middle way. Because that’s the worst decision of all and you get out in the worst moment probably with a big loss.
Please note that this is only for the cases where you studied the margins and it’s not a crazy bet like going up at the top of the price or going down at the bottom of the mountain. This extreme cases do not count, if you do that I guess it was just a fail, and getting out as fast as you can is the rule!

Keep in mind that any money source that you use in this bets should be preferable Stablecoins and investment money that you can afford to loose!
I recommend to use Stablecoins or FIAT since loosing Crypto is always painful. The best is just use money and if you afford to win then you can buy more Crypto or just transfer it back to your local bank. Risky choices are choices that have an element of danger. They are risky and may come to a bad end in case the direction changes abruptly and you are not in control. Losses may be sustained, hopes may be shattered, or opportunities wasted. That said, keep your winnings at large, and cut your looses short!
Do not use a small screen like your mobile, half awaken, to place a bet after. Open TradingView or any similar stock market chart analyzer in a big screen and make a seasoned and thoughtful decision.

If you want to try YouHodler you can open an account here. Their app has great usability and feels secure, the withdrawals are fast, and their support answers within the hour. So far I had a very good impression of their Finance platform.
However I would never recommend to hold all your assets in one platform. We have half of our assets in YouHodler and the other half in another DeFi platform called BlockFi which also has very good recommendations.
BlockFi is launching very soon world’s first Bitcoin rewards Credit Card. This is great since enables you to use this card to get cash in any automatic terminal or also to buy things just like any other VISA card and earn 1.5% back in bitcoin on every purchase. We joined the waiting list.

The psychology of risk – Lola Popes ( PDF )
Definition of Multi HODL

Uncovering crypto spams

This year I started to get Spam in some chat discord channels and also in my email account. Reported the spamming companies on It turns out there is at least 155.000.000 u$ reported as being lost by Scams so far only in 2020. This is no joke, 155 million dollars, only in reported scams. Look at the following report of this year with the 5 main countries where the reports come from:

The case

I received in my chat channels a message that was affected also part of my contacts:
Due to the situation with Covid-19 we decided to give an incentive help our users to start in Crypto. You just won 0.6 BTC!
Just register and use this code: XXXBLAH to claim your price.

Wow! I just won 9.500 € (In todays aprox. exchange rate) Can you imagine someone will just give you as a present, even 500€, like this randomly? Not even in your wildest dreams unless you hit the lottery Jackpot. This should raise the first alert! No serious site will promote their services with Spam in the first place. So Spam + Win a prize is obviously a scam. But still knowing this I registered, and even uploaded a valid ID with a fake address, since I want to know how far they go with their technique: And I must say, impressive work guys. Let’s have a quick overview of the features:
* They simulated 100% being a Crypto exchange site.
* They created all user flow, added support (That they will never answer)
* Added a place to “redeem” your price and all looks like taken care of
Except when you take a detailed look:
The domain is registered some days ago. The SSL certificate is not signed with a name. Big red alert, never trust a site like this!
Their address and privacy policy, somewhere in Estonia, seems fake to me. But anyways, where is the trick, now that we come to this point?

Let’s follow, so I registered, and now I want to claim my price using their so called CODES. A way to exchange crypto without paying transaction fees, let’s put the code they sent me and claim my price. Maybe for once in my life I will get something for free.
I did it. I see 0.61 BTC in my balance. And now comes the Wow moment:

We don’t trust you the scammers claim. First deposit 0.03 BTC to unfreeze your balance! (Aprox. 400€)

We need to be very naive to think this action will unlock any possibility to recover this money. This guys are real scammers and are poison to all the internet community.
I encourage you, if you ever see this kind of actions, to report it as a fishing site so other people get a browser alert when they navigate to this site. But also to file a report in and the online authorities of your country. Because they may be some people fooled by this. Because it matters that the people behind this kind of shady businesses, specially mentioning help Covid or people in need, are heavily punished and their sites blacklisted.
There is a lot of crap in the internet. That we all know, but this activities, along with the sites that trick you disguising themselves as your bank or trusted sites are the worst of all.

Be aware of it! Never send funds or trust a site in doing business unless you research first if they are legit. And don’t be indiferent to it, flag it and report it using the tools mentioned below. Only together as a community we will fight back this madness.

Use this websites to report them: Report an online Scam
Scamrate for coinRIZ

Report scam or fishing in FireFox / Chrome / Safari

  1. Select Help > Report Deceptive Site
  2. Paste the URL of the phishing site and submit report
  3. Or simply browse the Report fishing page from Google

The text I used was something for the report was similar to the one below.
Comments: Fake Cryptocurrency exchange. It sends Spam using chat/email channels and it’s already in anti-spam lists. After receiving an invitation, where they claim to give “for free” in order to help people after the Covid-19 crisis, they ask you to validate your account sending a deposit of 0.03 BTC (Aprox. 400u$)

Repurposing the MIDI protocol to control Led Matrixes

DATA FLOW: Midi out > Sparkfun midi HAT > ESP32 > RX Uart > C++ Processing > FastLED RMT output

Meet Remora-matrix a project that started with the idea to sniff MIDI messages and make simple visuals on a LED-Matrix. Our previous Firmware Remora was intended to receive short commands from ORCΛ and make very simple Neopixels animations on addressable LEDs stripes (WS2812B like)
With this one I decided to go a step further and make two versions, one that uses nodejs as a middleware (Requires WiFi and UDP) and other that uses MIDI serial, received directly via Serial2 (TX, RX) UART and hence requires no WiFi connection.

    This version uses a middleware script that sniffs a MIDI port (Ex. USB) and converts the messages into UDP messages that fly over WiFi to a destination IP. This script lives at the moment in middleware directory. An npm install needs to be run in order to install the required JS libraries.
cd middleware/midi-to-udp
nodejs midi.js
// Will list available midi entries. Requires port and udp destination IP
-p, --port_id  ID: Port name
                  0: Midi Through:Midi Through Port-0 14:0
                  1: USB MIDI Interface:USB MIDI Interface MIDI 1 20:0
                                                              [number] [required]
   -u, --udp_ip                                               [string] [required]

// EX. listen to port 1 USB Midi and forward them to UDP x.x.x.x:49161
// Port is fixed to the ORCA default port, feel free to update it  ^

nodejs midi.js -p 1 -u

This script will simply run in the background and redirect them using a simple short message that we designed to be compatible with both UDP and Serial versions.

2. MIDI SERIAL version
This uses the Sparkfun Arduino midi HAT that cost around 15 u$ and it can be found both in eBay and Aliexpress. The easy task is to build a connecting PCB below that hosts the ESP32 at the side of the HAT with the RX and TX cables from the HAT outputs connected to the ESP32. This HAT has an opto-isolator, also called octocoupler, that converts the MIDI signals into readable UART messages.
My prototype construction looks like this:

MIDI Hat alternative, but you could also build the MIDI to Serial yourself, in my case was easier to get it build

The MIDI Hat was designed for Arduino and requires 5 volts to run, so the 4 cables wiring is pretty straightforward:
HAT midi > ESP32
5v . . . . 5v
RX . . . . 26
TX . . . . 27

I’m quite sure the TX goes to TX in the ESP32 but may be also the opposite. There is no standard for this I think. But in case it does not work just invert it, there are only signals, so you won’t break anything for trying this. The advantage of Serial are that have less latence than WiFi. Depending on how clean your connection is, sometimes WiFi UDP packages can become clogged, and get out all together which is quite an undesirable effect if you are working with LIVE music. Also UDP nature is designed to be very fast, but has no order like TCP.
It’s possible that a note played comes in different order as expected. Or if WiFi is shared, that while your Router is busy, the packages will accumulate and then sent all together, causing a burst of shapes in the Matrix in a moment that does not correlate with the music. This is not happening with the Serial version since there is no middleware redirecting packages and it cam be run without any PC in the middle. As there are no flying WiFi messages, has less latence and it’s much more reactive and fun to work with. Being the only pitfall being that you need a MIDI cable from your computer or Synthesizer to the MIDI Hat + ESP32 controller.
Most LIVE music lighting equipment does not rely on WiFi and there is a good reason for it!

Building our own internal Midi messaging system

Since this two versions want to achieve the same goal, that is converting the MIDI played into shapes, I though to create an internal messaging that is shared. Maybe this can be a C++ class or component in the future so it should speak the same language, no matter what version you use. The result is very simple, we will keep Channel internally and will use only Note + Status + Velocity.
Status and Channel come in the first byte. Then comes the Note and at the end the Velocity. Once we get the last byte, we will assemble this with the following syntax:

2 chars (HEXA) representing Note played 
1 boolean      representing Status (1 note on, 0 note off) 
2 chars (HEXA) representing Velocity

NNSVV  Note, Status, Velocity

Example: Playing DO in octave 3 that is 36 in decimal, velocity 60, Note ON message would be:
 2413B When the same note is released it could be: 24000 

After building the message the channel is analyzed. It can either hear on all channels leaving the constants in platformio.ini to 0. Or hear in 3 different channels (Also 3 instruments) this can be of course modified, but 3 is a good balance, to see something that can be correlated with the music. The configuration for this is on platformio.ini file using build_flags

   -D SERIAL2_BAUDS=31250
   -D RXD2=26
   -D TXD2=27

There you can see that this will only forward packages for channels 1,2,15 all the rest will not be sent to the matrix.
There is also an option to ignore Velocity and use a fixed number ( MIDI_FIXED_VELOCITY )
And depending on the song, it could played on a high tone, or in a lower tone. Because our matrix is limited, we need to define BASE_OCTAVE and TOP_OCTAVE so we can have a drawing range.
That is the most important midi configuration. It would be desirable to have a “learning phase” where you can simply hear the first 10 seconds of a song and calculate this BASE and TOP margins automatically. This a future idea that might be implemented.

Interpreting the messages

I left just a demo of how to interpret this in C++. As we have 2 different firmware versions, one that listens UDP messages, and another one that get’s MIDI via UART you have to select what to compile editing platformio.ini File:

default_envs = esp32
# Uncomment only one of the folders to select what example to run:

#src_dir = firmware/udp-midi-matrix
src_dir = firmware/midi-in-matrix

Every message at the end triggers a function that draws a shape. And that part is open to every different implementation. For example, you can draw a different shape per channel, like:
Ch1 – Usually piano or main instrument – Rectangles
Ch2 – Triangles
Ch3 – Circles
Ch4 – Lines and so on

As said this is just an example, but it’s open to draw anything you want, since we are using GFX over the RGB Led matrix. Also you have the Velocity, that is the pressure that is applied to the key, so you can use this factor to make the shape bigger or change colors. The possibilities are unlimited.
There is only one important thing to keep in mind. A note with status 1 should be drawn, but same note with status 0, signalizes that the key was release hence we should delete the shape.
At the moment is just an experiment that will may never see the light out of my studio, but nevertheless I wanted to leave this post as a declaration of intentions, in case someone wants to fork this and make his own take.

Credits go to this awesome libraries
With Framebuffer Marc Merlin did an awesome job
FastLED is one of the most powerful RGB Libraries for Arduino / ESP32
NeoMatrix let’s you map the RGB Led matrix to use GFX

I writed to Marc Merlin who did the amazing job of adding GFX to FastLED and here I wanted to quote his answer

About FrameBuffer GFX: The good news is that your code will now run mostly unmodified on other displays like LCDs, or RGBPanels, or even display on linux.
Like this you can write all your code, run it, and debug it on linux, and then upload it to ESP32 or rPI when it’s done.
After that, you can go big!

Demo videos, just for fun, not representing at the moment the finished work

Understanding how to make good decisions when betting on Crypo Multi HODL bets

Multi HODL is an innovative tool to bet on price changes on Crypto assets invented by . YouHodler is a Swiss based company that is innovating in the field of Crypto financials.
I enjoyed a lot using Multi HODL but I was not well informed when I started with it and I make a lot silly mistakes, hence I decided to write this blog post with my advice, to help potential users have a fresh start. Now let’s take a look at the chart below with the 2 main Crypto assets in 2020. The fact is that since Covid started, Crypto values sinked abruptly, and after that they grown with an unusual force until being on the maximum tops cornering the end of 2020. This is how an Ethereum vs. Bitcoin looks like in 2020.

ETH vs Bitcoin price in 2020 –

Looking at both charts, ETH on the top although the king on the price is Bitcoin, there is something obvious: The grow direction with some temporary drop prices it’s always going UP.
It’s good to follow Bitcoin and Ether, or the coin you follow, together. As Gold is the king of the metals value, so it’s Bitcoin in the Cryptocurrency world, so if you open BTC and ETH in two horizontal panels you will see they mostly correlate over time. Usually, but not always!
So it’s essential to follow both to have a clear tendency indicator.
Multi Hodl let’s you bet on price changes in both directions, Up or down changes:

Going UP is always better than down

This are my personal recommendations about using it to avoid falling in common mistakes.

You should only reserve for this kind of bets as small percentage of your assets while leaving the rest in YouHodler savings account so it generates a steady 4.5% year interest on Crypto and 12% in Stablecoins. And the best is to not play with your Crypto assets directly, but to bet with a Stablecoin, like EURs or USDT. That way you can have more control of the gains and looses without altering your precious holdings in Crypto.

Disclaimer: This are only my views and recommendations on how to bet on UP Multi HODL Bets, with the least risk as possible and without falling in very common traps. I’m not an financial expert and this are hints that I summed up after my own mistakes.

Be aware of momentum of the year and special days. For example if you are close to black friday, check how it was historically on that day. Avoid days where you don’t see market volume, avoid special dates like Black fridays and any other internet related thing since this Crypto is attached to the internet somehow. And this special days can be specially tricky!!!’
Do a search, research the field, before planting a seed. If you are not going to take the time to do this research it’s better not to bet.

This easy tips are only based in the last price movements from Ethereum which may be very different from those of other cryptocurrencies. ETH price was hectic in the last weeks and it’s recommended to bet only UP when you see a clear grow pattern.

1. For starters: Use only the UP button and a low Risk factor (X2 or X3).

Background: Even if you make a bad decision, you can always wait, and at some moment it will go up. The price per hour is calculated using the initial Bet and your Risk factor. If you use take a big risk is not optimal to wait long hours.

Checking last months on ETH or BTC it’s going up. It’s a no brainier!
Unless you know what you are doing and you know that there is a big price drop you may try the DOWN button. But it must be a fast action, and if you loose the timing, is very probable that it will never go down again. Avoid the DOWN button. Be wise, make only UP bets in crypto!

2. The starting point is essential! The best to start an UP bet will be at the lowest point possible on a trend that looks going upwards. Look macro movements, not mini like just 2 hours range!

Explore last 5 days, even last 2 weeks, and double check that your prediction matches. Starting your race in a good point gives you the leverage to wait in a comfortable position in case there is a temporary descending path.

3. Micro betting examples: To start playing with it and avoid big looses is a very good idea to try a micro-bet. Just use a low value like 0.06 ETH or from 30€ for example of a stable coin. Doing that you can also afford to have a bigger risk factor since the bet is small and in the worst case there is not much to loose. This way you can learn the first days/weeks till you get a feeling for it without loosing part of your assets.

4. Clearly identify grow direction: Check the Macro movements on last 5 days, last month. Usually it’s always UP but is important to detect that after days of continuous grow there is usually a DOWN cascade. So don’t trust the always UP game. The key to make a good Bet is to hold it from a low point, so you have leverage to stop the Multi HODL, at the beginning of that cascade and not at the end. Also is a good tip to see the top of the saw mountains, if the peaks go UP, it’s a GROW pattern . If they go DOWN is a DECREASING pattern. Sounds easy but it’s not always straight-forward to see. Below my analysis, finding lowest nightly point and start of my bet, 8% up prediction for next hours.

5. Don’t double bet at the beginning: It’s very tempting to make a second bet to cover the looses of the first one (Ex. I though was going, but is going down, let’s make an additional DOWN bet!). Although can be a good idea, unless you master points 1 to 4, this is not recommended, and as mentioned before DOWN bets are a bad idea that have to be done precisely.

What it may be a good idea, is to make a “seed Bet” of a minimal import For the lowest possible 0.06 ETH for to see your idea was good before making a bigger bet, then you can close them at different times knowing that with the small one there is a minimal risk. Both going UP!

6. Mind the GAP: From the starting point, let’s imagine the scenario where you start an UP Multi HODL bet of 0.7 Ether when ETH price is 590 u$. Mind the origination fee of 0.45% cost that you can see in Details plus the hourly fee, that can be high if you choose a high risk factor (X).

Example: 0.7 ETH Multi HODL bet at X7 factor taking in account the costs, will start generating something only above the 595 u$. So this first 0.5% UP is only to cover the costs. So make the appropriate markings in your favorite Stock Chart online viewer, in order to visualize this risk, and to get away at the proper time in case goes down abruptly. Using lower risk factors like X2/X3 makes the initial cost lower and has also the advantage that if you start in the wrong point, you can wait till the new upward Wave in order to avoid stopping the Bet on RED numbers. Theoretically, unless the exceptions when the starting point is not wisely chosen or the bad luck to start when a DOWN cascade is flowing, you should only quit an UP bet when it’s on the winning side and not before.

7. Mind the Growing vs. Decreasing speed: Usually it’s quite normal that the grow movements are like a chain Saw of short upward movements with down cascades every now and then. If the cascades are short and do not cut all the grow is great since it’s a clear signal that there is increasing GROW.
But it’s not uncommon that after a long upward Saw shape comes a BIG cascade DOWN. And that’s sometimes really fast down compared to the grow speed, be ready for it, and away from your danger top bottom line (Where you start loosing)

It’s very important not to freak out in this point and stop the Bet in the most down part of the cascade. This is a very common error that stopped many of my good bets. Get accostumed to this movements, make your margins visible drawing over the live stock Chart and HOLD it unless you see clear signs of a catastrophe!

8. Don’t overuse it and do not get addicted to it: Making one or two good Bets you can call this a day and just walk away happy till next day. The luck to be always in the growing side is not take for granted. Many times you may not see a DOWN cascade of death coming, and in one fail, loose the gains of many good guesses. Use this consciously, you are playing with real money here. And start slowly, making Micro bets as described in point 3, to get the feeling and timing for it. Keep in mind doing this is time consuming and may make you tired!!! Find the good moment to start it.
This is the key for a very good Bet!

9. Be aware of context on the Crypto you are making the bet. For example if you are betting on Ethereum, then follow the ETH developers and related channels. Starting this month they are launching ETH2 and I bet that had an effect on the super bullish unusual grow on the last few days.

10. If possible don’t use your Crypto on this! Your mission is to HOLD your Crypto and have an stable financial future. So playing with it’s a bad mix. Unless you are sitting on a stronghold of Ether or Bitcoin and you are wise enough to keep your balances right I strongly recommend to use any Stablecoin that you can afford to loose to do this kind of bets.
Do not forget: You are playing with real money when you start a Multi HODL, and even that it looks like always going up on a Macro zoomed out view, the reality is that is not always a constant growth. And in a single day can be a 10% drop on the price, if you are there on one of this UP bets, you will loose at least 1/3 of what you bet if you don’t get out in the right time.
So I will say it again in case it was not clear:
Separate your betting risk money from your Crypto assets if you want to be in the safe side!

11. Last but not least, do not play with Bottom margins. Let it breathe!
It’s very human to think: I will just control my risk setting a very low margin so I can sleep in peace!
There is two problems with this approach:
1. As described in point 6 there is a gap from the Bet start till you start winning so setting a very short down limit can let you out with the worst scenario. I will describe this with an image after declaring my intentions. Also mind that the margin stop loss has a high cost!
In case of margin call or stop loss you will be charged a 2% service fee instead of origination and hourly fees. In the App/Website says 3.8% fee but is wrong (Already reported this)
This 2% is taken from the total amount depending on your risk factor so it’s much better to stop it by hand if you want to do so. This limit is just a safety ring to avoid loosing absolutely everything. But it’s not recommended to use it unless there is a good reason to do so and always tight to your starting point!!!
Failing to do so and having a bad starting point is a guaranteed way to loose the bet. To have a real scenario, let’s say the total borrowed money for the bet is 2000 u$, margin call with take 2% of that so you will end up paying 40 u$ just for the automatic margin call. Don’t do this.
If you don’t find time to be relaxed and follow your bet is better not to start it. This is the wisest advice I can give to you after gaining some experience.

2. Is very normal that you think is the best start point and it’s not. You cannot control the snake and cannot possible predict the future. So just let it breathe and at some point it will grow. And if it does not and hope is lost then at least wait enough time to get at the highest point and stop the bet manually.

Anatomy of a Bad bet and a very bad decision: To set a low margin call, see it was just about to wait longer!

This is fun but also risky and time consuming. And it’s also something that can be done in a wild, hectic coin like ETH, but also on more stable ones and doing it with more calm waters can be the key to success in this crazy oceans of 2020.
I highly recommend to do this confortably from a Desktop computer since the UX is much nicer defined and is more precise. I had two times problems when starting this from the iPad since the rist leverage is close to the UP button and withouth intention you can start with the Highest risk. The mobile App is good to stop the bet, but to be on the safe side, start it confortably from your laptop.

Managing risk

As mentioned before this takes risks of loosing real money. And it’s supposed to be done with assets you can afford to loose. If you don’t like risk at all then you don’t have to do it. You can just leave your Ether, Bitcoin, Litecoin or many other coins just there and use it as your wallet, generating 4.5% yearly interest.
Or 12 % in stable coins. I have some EURs assets that is 1 coin, 1 euro and this generates a nice passive income that you use as a end of the year savings or any time when you want to invest in buying more Crypto.
This is are only my personal views and I’m not a financial expert. I’m just a worker that is tired to be in the office 9 hours / 5 days a week and is looking for financial freedom.

Related articles

Keeping your Crypto assets to generate 4.5% (ETH, BTC) to 12% (stablecoin) yearly interest

Since 22 Dec, 2020 the Ethereum yearly interest rate was upgraded to 5.5% one percent more than before making YouHodler one of the platforms that generates more interest to hold ETH.

YouHodler latest update

As an addition to latest article “Financing a web-project with Ethereum” I wanted to show how to make your Crypto assets grow a small percentage per year and also to have some additional cash per month using Stablecoins.

Stablecoins are cryptocurrencies designed to minimize volatility, relative to some “stable” asset or basket of assets. For example there is EURS that is tied to the € price also 1 EURS = 1 €.
Another one is PAX Gold that is tied to the price of one ounce of Gold and generates 8.2% APR. Both Stablecoins are a subset of Ethereum network. With PAX Gold you can if you go to London, exchange your coins, for real gold. That’s what they claim at least since I would not fly there to prove it. More than that, the point I want to make here, is that in sites like YouHodler you can make 12% APR compounding interest per year when holding EURS.

Let’s say you have 10.000 € there for one year untouched.
At the end of the year you should have 11.200 € with a 12% interest.
If you want you could extract this 1200 € to your account and have some extra cash at the end of the year for further investments of a short holidays. That is a quite interesting method to generate a passive income over the years.
Below there is a talk about stablecoins that was recorded and had 464 registered participants from 58 different countries, on April 17 2020

Now the only risk I see is that this money is not on your domains. It’s hosted in a secure wallet in the domains of a company. So what I recommend, no matter what site you choose, is to check very well and read about who is behind the company and how secured are your assets in the event something happens with the company you choose.
I use to trust the banks a lot until one day at the middle of 2001 in my hometown, Buenos Aires, the economy crashed and the banks simply will not let you take your dollars out of your acccount. Or even worse, they where converted to argentinian money, something that at that moment was the equivalent to flush your cash into the toilet.
Ater that happened to me, got an offer to work in Spain and moved to the EU in 2004, and I always take care of where I put my assets and making an analysis of the risks. Of course we are in Europe and here the protection laws, would simply not allow a bank run like that to take place, still with that assumptions it is wise to check where you put your money.

Team of YouHodler

In case of YouHodler my analysis was good and as I mentioned in last post, the fact that they are a members of the BlockChain Association and the Financial Commission, and that they open profiles show an extensive and proved career in the Financial tech industry was enough for me. The fact that they have real offices in Malta but also in Switzerland is also a proof that they real and solid.

Disclaimer about 100% transparency: I’ve decided to sponsor YouHodler and will also make some videos and further analysis openly. The links starting with are affiliate links since I want to get additional cash in order to film the videos and use my time to share with my readers the road to financial freedom and to generate an additional income each year.
‘This links won’t work from Germany or from Spain due to country restrictions. But from those countries you can enter directly to
This does not mean that I blindly recommend this company. There are also others in the market like Nexo that offer a similar percentage (2% less on stablecoin). Feel free to explore and take your decision solely on your assumptions.

You can also earn crypto faster with Multi HODL but that is something that must be handled with care and deserves a new Blog post. For the moment I only recommend to keeping combined assets, like for example some Bitcoin and Ethereum, along with Stablecoins like EURS or PAX Gold in order to generate a passive income.
Do not try Multi HODL with the dream of making a fast buck. It’s very risky to use it, specially with the variations value of cryptocurrency, that is like trying to take control of a wild snake. This must be used with care and meditation.

Questions for my subscribers:
What do you think about this?
Would you trust an external company part of your assets provided they are trustable and generate a yearly passive income?

I bough some ETH back when it was 260 -> 280€ now it has gone up almost 100€ in two months. That was a lucky desicion. But is not always like this and it can be that due to market changes, external factors, or just the team Ethereum development roadmap that it simple goes down too.
This was a good analysis made by an user of TradingView months ago:

This second analysis was also quite accurate. 1 ETH is worth today 19 Nov. 2020 about 470 dollars (395 €).

New epaper component for ESP-IDF

E-paper component driver for the ESP-IDF framework and compatible with ESP32 / ESP32S2 can be found in this repository:

Codenamed Cal e-pe-de for the initials of E-Paper Display this is basically all what I’ve been doing the last weeks. Learning more about C++ object oriented coding and preparing a class that can be used to send graphic Buffers to different epaper displays. In order to do that I’m documenting on the go and building at the same time CALE-IDF that is our Firmware version for but this time built on top of the Espressif IoT Development Framework (IDF)

The mission of this new component is to have a similar library for ESP-IDF that is easier to understand. If possible strictly meeting these requirements:

  • Extendable
  • Maintainable
  • Object-Oriented Programming with human-readable code and function names
  • Easy to add a new Epaper display drivers
  • Easy to implement and send stuff to your Epaper displays
  • Human-understandable
  • Well documented
  • ESP-IDF only (No Arduino classes)

Please find here the Wiki with the models that are already supported in the component:

Leave us a note if you want to try this. We can guarantee that for big epaper displays (>=400 pix. wide) it runs faster than GxEPD also supporting Adafruit GFX fonts and geometric functions. If you tried and it worked out for you please don’t forget to add a ✰ Star and spread the idea.

Testing the new ESP32-S2

I got one ESP32-S2 Saola board and I will be making some tests on this repository:

ESP32-S2 integrates a rich set of peripherals, with 43 programmable GPIOs which can be flexibly configured to provide USB OTG, LCD interface, camera interface, SPI, I2S, UART, ADC, DAC and other common functionality. ESP32-S2 provides the optimal HMI solution for touchscreen and touchpad-based devices.
The arduino-espressif32 is getting it’s finals touches of grace before being available and I will just do a small repository and try to test as much as I can and also make some benchmark comparisons.

In the first tests the impression is that most of the arduino framework is already working with a few exceptions. Not all the features are supported yet but they will be soon.
Sadly the deepsleep is still not optimized correctly in this first revisions of the Saola board and on 3.4 v I measured 0.79 mA/hour. On a good ESP32 board like tinyPICO it’s 0.08 mA/hour (10 times less) now that’s something you can plug to a battery and make it wake up every hour to do something.
Please note this is not a fair comparison at this point. It’s only a test with same firmware, same conditions and bypassing power regulator to see how much it consumes directly powering the board with the 3.3V pin.
On the other hand, making processor intensive tests like receiving UDP packets or receiving and decompressing at the same time, it showed similar speed with much less consumption than the ESP32.

But other than this small annoyance in this first board revision it’s a really promising product and very powerful System on a Chip. The feature list is impressive:

  • Xtensa® single-core 32-bit LX7 microcontroller
  • 43 programmable GPIOs.
  • Standard peripherals including SPI, I2C, I2S, UART, ADC/DAC and PWM.
  • LCD (8-bit parallel RGB/8080/6800) interface and also support for 16/24-bit parallel.
  • Camera interface supports 8 or 16-bit DVP image sensor, with clock frequency of up to 40 MHz.

Please follow the repository and add issues or just leave a comment here if you want me to test any of the features and I will publish the results. Note that the only condition is that the results should be shared with the community on the internet. It’s all open-source, so we will keep the same spirit and share the results with everyone else.
Another example of ESP32-S2 in action, controlling 144 RGB Neopixels using Makuna library

What GPIOs not to use in ESP32-S2

GPIODescription / default configuration
26PSRAM pin
46Pull-down – INPUT only
43 *default UART0 pin on S2
44 *default UART0 pin on S2
NOTE: GPIO26 it applies primarily to WROVER as those come with PSRAM.
* not sure if you should not use 43,44 but if you will use UART0 output in your project is the best you don’t use them

Important documentation
ESP32-S2 Technical reference manual (page 39-40 for the not-use GPIOs)

Trying out Waveshare E-Paper ESP32 driver board

In my pursuit to make the CALE displays as small as possible but also to learn how different boards interact with Epaper I got last week an Waveshare E-Ink ESP32 driver board.

ESP32 Waveshare Epaper driver

Not all the boards need to use the default SPI GPIOs of the ESP32 and this was one of this cases. Opening the documentation, the first check was to see that Waveshare used this PINS:

#define PIN_SPI_SCK  13  // CLOCK ESP32 default 18
#define PIN_SPI_DIN  14  // MOSI ESP32 default: 23
#define PIN_SPI_CS   15
#define PIN_SPI_BUSY 25
#define PIN_SPI_RST  26
#define PIN_SPI_DC   27

So my first though was Ok nice but this won’t work per se using gxEPD library. Because this great library starts the SPI.begin() withouth parameters hence using ESP32 /ESP8266 default GPIOs for SPI communication. So what I did to test is very simple, I forked GxEPD:

And updated this part of the library to use defines that can be injected using Platformio build_flags:

Note that MISO is already defined in espressif32 Arduino framework.
So now we can inject the other 3 in platformio.ini and get the Waveshare example working:
build_flags =

If we want to test it with CALE we can also use the same defines to reference the EInk wiring in lib/Config/Config.h

// Waveshare ESP32 SPI
int8_t EINK_CS = 15;
int8_t EINK_BUSY = 25;
int8_t EINK_RST = 26;
int8_t EINK_DC = 27;
So it was not a lot of time to get it working with this simple modification. I find it great to inject defines using build_flags. It’s really straight-forward and in fact, if they are only simple defines, all configuration for a project could be done just in platformio.ini

The party breaker

So I was excited to get this working and avoid using this SPI adaptors that go between the ESP32 and the Epaper display…until I got the idea to connect it to my small 3.7 V Lipo that I use to test the ESP32’s with a Diode in between to lower 0.5 v. and found out how much it consumes in deepsleep:
That’s 13 mA per hour. Unless I’m missing something and there is something big that needs to be switched of before deepsleep this EPD driver will eat your battery and your kids for dinner.
So that was the low point of this test. If someone’s got a clue about this high consumption when sleeping please write something in the comments.
UPDATE: In the measurement below I forgot to put the diode in serie, so I was giving 3.8 v to the 3.3 pin. Don’t try it otherwise you may kill the ESP32.  Adding the diode it went down to 3.4 v and consumption of course went also down to 10 mA. But is still a lot for deepsleep. In good ESP32 boards like TinyPICO and others, deepsleep consumption is as low as 0.08 mA.
Video proof:

Hackaday projects update: CALE Eink Calendar and udpx

I must say although I’m not proud of all the projects I tried to document in Hackaday I do like a lot udpx and Remora, that are made initially to control Addressable LEDs, but they could be expanded and used for another uses.


This is actually an old project for the agency I work that is finally seeing the light. I started using Waveshare V1 and this is the new 7.5″ e-Paper V2

CALE E-eink calendar ESP32
CALE Eink calendar ESP32

This will be powered by a TinyPICO ESP32 that claims to consume as little as 20uA when in deepsleep. Let’s see when it’s connected to the Waveshare also in deepsleep ;)
But the idea is to connect, refresh the meeting room labels at each door, and then go to sleep for at least 2 hours. And in wakeup check the day of the week, it it’s Saturday or Sunday when we are not in the office, then just keep on sleeping. There is no need to update stuff when no one will watch.
So designed with low-consumption in mind, will be actually my first real battery project, that I hope last at least 30 days without charging. The Firmware is actually not ultra complicated except the BMP image reading part, that I took mostly from the GxEPD Eink library example, with the add-on that I implemented Zlib compression so download takes one second instead of five. Other than that the only thing that does, is to wake up, query a backend passing an URL that renders that webpage screenshot. The image is sent per SPI and it goes to sleep.
Firmware: 90% done and open source
Case: Work in progress


udpx sending frames to a 44*11 RGB Led matrix
One of my personal favorites since we are working in team long time already is udpx which is a transmission protocol with decompression support (Zlib and Brotli)
That we are using at the moment to receive animation frames but I can see much more potential in it, like to be used to send small JSON beacons and have real-time charts for anything, they are endless possibilities to use a streaming technology that is proving to work stable. The Max. transport Unit (MTU) of the ESP32 is about 1470 bytes, but you can send much more in that payload if you use Brotli or Zlib, so I see that it can be applied in many other use-cases.

udpx is the first project using Espressif boards where we can use the full connectivity possibilities that the ESP32 offers:

  1. Bluetooth WiFi configuration. That’s one of the main reasons the ESP32 offers Ble and Bluetooth serial, so here we put it to use.
    udpx-app is an open source Android application that offers Ble/Bluetooth serial configuration to send WiFi credentials and also mDNS discovery using zeroconf
  2. WiFi UDP and decompression. ESP32 has enough memory to pack in one sketch both Brotli, miniz (Zlib) and Bluetooth. I did not believe this initially, but udpx is the proof-of-concept that it can be done.

Pixels is the library that is implemented to do the UDP interpretation, read the headers and send the RGB(w) brigthness values of each LEDs to Neopixels. Initially developed by Samuel our colleague in the USA, we work in team also with Hendrik in Frankfurt am Main to develop a Backend controller that will be able to chain animations and route them to multiple ESP32 controllers every millisecond. So this is a very exciting project, that is going slow because everyone is busy in many things at once, but one that I personally steal hours of sleep every time I can just because it’s interesting and beautiful to work on it.
Last addition was the PIX565 protocol, one that’s been inspired in Spectre’s own take on OctoWiFi LED Controller, but one that has been also used in old game consoles. Didn’t know about this, but Neopixels developer Michael Miller put it in words today:

Games also use alternate bit depth images like 565 and even others; to compress in memory textures. Lots of writeups on that and how shaders can use them to render. The graphics stuff you learn for LEDs often overlaps with gaming techniques.


This streaming little fish is swimming since a while and I’m proud that some music hackers are using it in professional Eurorack setups.

It was initially built for ORCΛ sequencer, and receives short UDP commands of 4 to 6 characters, to launch fast animations at a very high framerate. In the last months it also had the addition that if receives more than 9 bytes, it renders also a Pixel animation frame, so you could send short animations, but also a small animated video.

Remora was also the first product that I could imagine can be a Tindie product, but I must confess that I never selled one, even that I put a price that is mostly the Hardware price. I’m good at building, but not at selling. Everyone has to find their strong point.


Cordova cross platform mobile applications

After the small Chrome App experience that resulted in a very compact app that reads Video and sends an UDP binary stream to ESP32 Led controllers I decided to start learning how to program a real mobile app.
Real because I find that the way to do it must end in the App Store and the user should be able to install it with a few clicks.
This start guide is only valid for Linux but it could be a similar approach in Mac.

1.- Install Java 8 SDK

It’s very straight-forward to start if you have previous html/javascript experience building a web page.

In this github repository:

I’m building my very first Android app. Follow the commits and watch the Repository to see my new steps and also my failures in this new world.

This is a preview of how the app looks like in it’s first version:

udpx Android application is available in the Play store.
udpx app

Soon more posts will follow explaining how to interface with Android OS (Camera as an example). There will be soon more issues to expand and implement in this repository. And my new philosophy to build Firmware for Espressif chips will be simply:

“One firmware, one mobile application”

Meaning that every firmware will have his app, where you can configure and test it, just with one click install in google Play store and setting up some very easy configuration. Starting from WiFi credentials using BLE (Bluetooth low energy) and setting up the App IP address as a last step.

My goal at last, is that internet of the things is easy to use, and not something where you need a 20 minutes complicated setup to start using something. So the mission is that for first weeks 2020 all master branches from our main ESP32 Firmwares like udpx and Remora should be bluetooth configurable.