{
  "trx_id": "a95f1ebd97b216af4a736153c56f13e4054168f6",
  "block": 106147279,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-18T03:27:42",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "7114.094571 VESTS"
    }
  ]
}

{
  "trx_id": "b791de5d0c45dc19c553b1dcd3aeff8010c514b2",
  "block": 105991287,
  "trx_in_block": 6,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-12T16:50:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "4401.884166 VESTS"
    }
  ]
}

{
  "trx_id": "1590610a9bd04d9a194479c421b1771b6c2365be",
  "block": 105514842,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-04-26T02:43:42",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "7126.610327 VESTS"
    }
  ]
}

{
  "trx_id": "9fe57504dd987e9e4106fd2b6702b462034ac8e3",
  "block": 102862123,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-01-23T16:24:30",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "4443.430985 VESTS"
    }
  ]
}

{
  "trx_id": "1adbcec1824a47d9a43a6f2f5360015b6ffca8ed",
  "block": 91308403,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2024-12-17T11:37:48",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "4607.650182 VESTS"
    }
  ]
}

{
  "trx_id": "5171bd91e3c82a4ba7d49c0d890c838a784e6bbc",
  "block": 79862583,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-11-14T03:19:54",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "4776.783714 VESTS"
    }
  ]
}

{
  "trx_id": "b5511755e3ff6cfc2a1b54be62b676b80cf59228",
  "block": 78352345,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-09-22T01:36:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "7714.062500 VESTS"
    }
  ]
}

{
  "trx_id": "faab891d92f2a2df09d6cfad1b6786c21966cc2e",
  "block": 69117117,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-11-03T14:56:03",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "7935.743938 VESTS"
    }
  ]
}

{
  "trx_id": "9a53bdc7aaf592d433016b0effa64980b777b377",
  "block": 60818049,
  "trx_in_block": 20,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-01-17T18:11:18",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8155.979074 VESTS"
    }
  ]
}

{
  "trx_id": "f60e78836ad06fd35533695e27be5b43ca6d3905",
  "block": 54611177,
  "trx_in_block": 13,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-06-14T03:42:33",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8340.045827 VESTS"
    }
  ]
}

{
  "trx_id": "f2b4fcd6d31a7502a0d01a9daf2281432feb19f9",
  "block": 49358526,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-11T13:57:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8527.467801 VESTS"
    }
  ]
}

{
  "trx_id": "35d16fbb91fc073b9541f6dc95fbaa633fd15e5b",
  "block": 49210065,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-06T07:34:00",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "1912.543513 VESTS"
    }
  ]
}

{
  "trx_id": "7041b75a5aa9254d3e2ba69679b79bfdbe7a3c85",
  "block": 49193613,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-05T17:35:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8533.675655 VESTS"
    }
  ]
}

{
  "trx_id": "da642b43a1f0af42eb1397f4a6c60c5b0f68e959",
  "block": 48264690,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-11-02T21:29:12",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "1920.017158 VESTS"
    }
  ]
}

{
  "trx_id": "c38be150f86d2b81a4b3def02e07e87349df28b5",
  "block": 43220355,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-09T08:34:33",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8736.481014 VESTS"
    }
  ]
}

{
  "trx_id": "5b3b8129c45fd6007e94ececca41ae522456ddaa",
  "block": 43196964,
  "trx_in_block": 17,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-08T12:36:33",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "1953.311140 VESTS"
    }
  ]
}

{
  "trx_id": "88ea1426db69f4cb26c3254b168f6fbdf90a2e39",
  "block": 42567306,
  "trx_in_block": 15,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-04-16T01:42:15",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8749.368462 VESTS"
    }
  ]
}

{
  "trx_id": "e1f9bb6588b4ac9c83970646e46feba2e6f228d6",
  "block": 36797871,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2019-09-27T20:53:48",
  "op": [
    "comment",
    {
      "parent_author": "marsgrins",
      "parent_permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-marsgrins-20190927t205347000z",
      "title": "",
      "body": "Congratulations @marsgrins! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@marsgrins/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@marsgrins) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=marsgrins)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}"
    }
  ]
}

{
  "trx_id": "8de3e0bb5d8ef1ee5e046cf83b05d86f691b0c5d",
  "block": 32850170,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2019-05-12T18:48:24",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "8944.985275 VESTS"
    }
  ]
}

{
  "trx_id": "9c66f07d990b31e0eb741912a85ee5671898e1ea",
  "block": 25958113,
  "trx_in_block": 37,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-09-14T16:59:42",
  "op": [
    "vote",
    {
      "voter": "kkoepke",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "12e94781190ee9909e17fbf6c679f426e63ac067",
  "block": 22882426,
  "trx_in_block": 10,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-30T11:48:00",
  "op": [
    "comment",
    {
      "parent_author": "marsgrins",
      "parent_permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "author": "pale81",
      "permlink": "re-marsgrins-the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies-20180530t114759176z",
      "title": "",
      "body": "This is a little bit older, but it directly cut across this one (but both say rebalancing is better than hodl) :\nhttps://www.shrimpy.io/backtest?c=EAAIAAAAAA==&p=1w&r=25\n\nNow, whats the truth?",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"links\":[\"https://www.shrimpy.io/backtest?c=EAAIAAAAAA==&p=1w&r=25\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "29a6340d12b0633ce39dd11b0d755b8525b3ddab",
  "block": 22882378,
  "trx_in_block": 17,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-30T11:45:36",
  "op": [
    "vote",
    {
      "voter": "pale81",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "f53f83b26c1275d949c22f45f2db89715a359508",
  "block": 22492884,
  "trx_in_block": 44,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-16T22:49:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "9144.596143 VESTS"
    }
  ]
}

{
  "trx_id": "a3415ec333d09e6b67ed47b1c2a01627757c2403",
  "block": 22101044,
  "trx_in_block": 41,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-03T08:13:06",
  "op": [
    "vote",
    {
      "voter": "delpvn",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "d80c14f191fe6da52d4d879e2e8636a9c4e2b6d9",
  "block": 21482946,
  "trx_in_block": 43,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-04-11T20:30:21",
  "op": [
    "vote",
    {
      "voter": "slickbrick",
      "author": "marsgrins",
      "permlink": "why-i-donate-10-of-my-income-to-charity-and-you-should-too",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "9bdacaa92d38c1138347ac1b7d6924771de5bb32",
  "block": 20327260,
  "trx_in_block": 37,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-03-02T16:13:21",
  "op": [
    "comment",
    {
      "parent_author": "marsgrins",
      "parent_permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "author": "pianese",
      "permlink": "re-marsgrins-the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies-20180302t161322164z",
      "title": "",
      "body": "Great analysis! Thanks. I was thinking about hourly rebalancing but i am now gonna try the trigger method.",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "8d9ef95753d108f754176ae4f301508e2d5a94dd",
  "block": 20327219,
  "trx_in_block": 37,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-03-02T16:11:18",
  "op": [
    "vote",
    {
      "voter": "pianese",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "8d2494ebaaadc44e592dffa003e03a541db53036",
  "block": 20092532,
  "trx_in_block": 20,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-02-22T12:25:12",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "29626.558674 VESTS"
    }
  ]
}

{
  "trx_id": "4f83f77a3f6659194c77383f1670554aff1cde0b",
  "block": 18873016,
  "trx_in_block": 24,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-11T03:12:06",
  "op": [
    "vote",
    {
      "voter": "deaddy",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "cc0cfafe3fd1d797807efe47a34bea5dca263935",
  "block": 18495000,
  "trx_in_block": 34,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-28T23:50:15",
  "op": [
    "comment",
    {
      "parent_author": "marsgrins",
      "parent_permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "author": "zenmonkey",
      "permlink": "re-marsgrins-the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies-20171228t235012536z",
      "title": "",
      "body": "Thank you for your analysis. Very nice. May I ask what backtest tool you use? I would like to try it with 2,3 and more assets and also with assets with varying degrees of inverse correlation. Thanks, zm",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "658f2590bbabdb3fe791f12c0d29caac22554bfa",
  "block": 18494163,
  "trx_in_block": 16,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-28T23:08:21",
  "op": [
    "vote",
    {
      "voter": "zenmonkey",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "8bad0f96540b5522ad25a55d79d8a57a211cc6ec",
  "block": 18338150,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-23T13:02:15",
  "op": [
    "vote",
    {
      "voter": "scubacoin",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "47952910db12bfb8dbcbde45458e3d123f5ee50c",
  "block": 18029477,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-12T19:44:42",
  "op": [
    "vote",
    {
      "voter": "northhill",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "56639dc804af4d769a822f5482bc052c6323ebe4",
  "block": 16298209,
  "trx_in_block": 33,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-13T16:01:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "marsgrins",
      "vesting_shares": "29831.434765 VESTS"
    }
  ]
}

{
  "trx_id": "0000000000000000000000000000000000000000",
  "block": 16191672,
  "trx_in_block": 4294967295,
  "op_in_trx": 0,
  "virtual_op": 6,
  "timestamp": "2017-10-09T23:10:12",
  "op": [
    "author_reward",
    {
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "sbd_payout": "0.000 SBD",
      "steem_payout": "0.000 STEEM",
      "vesting_payout": "588.545687 VESTS"
    }
  ]
}

{
  "trx_id": "2ecad8cd5b56b36f5b8fd7f781f6f6cff00f70e8",
  "block": 15990433,
  "trx_in_block": 13,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-02T23:24:45",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "marsgrins"
      ],
      "id": "follow",
      "json": "[\"follow\",{\"follower\":\"marsgrins\",\"following\":\"mal402\",\"what\":[\"blog\"]}]"
    }
  ]
}

{
  "trx_id": "1133eebbe057c338833d6d8dfbea1acc96a4c959",
  "block": 15990150,
  "trx_in_block": 7,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-02T23:10:36",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "cryptocurrency",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "title": "The Benefits of Algorithmic Rebalancing of Cryptocurrencies",
      "body": "@@ -96,21 +96,16 @@\n ou make \n-more \n signific\n",
      "json_metadata": "{\"tags\":[\"cryptocurrency\",\"finance\",\"money\"],\"image\":[\"https://steemitimages.com/DQmNwUPBFfPhAui8p3RoUeJG7Aker98TQeFm3JRBD3597MV/image.png\",\"https://steemitimages.com/DQmcKfdHFQrsB6VFbGo6WCQaNS3cBsVvNmgDuah1x8QWkka/image.png\",\"https://steemitimages.com/DQmYymSWog8k6Kj5huEyUXsxV7oPorc9wKF7QAmfL1KNbCe/image.png\",\"https://steemitimages.com/DQmUzpuv8RMLWRhoFEELCdwNdpEtjdnBvNVmSJ7f54wBUS1/image.png\",\"https://steemitimages.com/DQmQTPgEBWuhJ6kSCm7GwnkrRHnWUy4aWA5LB73HDwh3zeG/image.png\",\"https://steemitimages.com/DQmSacjqzguWEeeLbRKQWyyad9XCDkM3QyHctERvipZuSx2/image.png\",\"https://steemitimages.com/DQmdhfz6wo65xG5vzmyJBmPjdmRzfdf5zmJkGDvcH4aNCTa/image.png\",\"https://steemitimages.com/DQmT3mbeoG43UfH4h4UV3uqaMfSrJhwtMN3btbJHgcy6jN2/image.png\",\"https://steemitimages.com/DQmQQcDsx4VRCFHJomKttP6YRMk2s9fK2FV4h2bcXftP3iK/image.png\",\"https://steemitimages.com/DQma1nTqm1gNAEZyn9Z82LZAunbpdvYjLCvGvKQwiUcHh8b/image.png\",\"https://steemitimages.com/DQmYMLas9sWRX6MLzgMxALpP5U8SaTyv5S3CC3XRBLoevn2/image.png\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}

{
  "trx_id": "3e3a90725d568fd049f6a45737ac8a8928456ee1",
  "block": 15990147,
  "trx_in_block": 14,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-02T23:10:27",
  "op": [
    "vote",
    {
      "voter": "mal402",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "21785a38ba1120341f13a7ce36ca8262b7b8c093",
  "block": 15990142,
  "trx_in_block": 23,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-02T23:10:12",
  "op": [
    "vote",
    {
      "voter": "marsgrins",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "21785a38ba1120341f13a7ce36ca8262b7b8c093",
  "block": 15990142,
  "trx_in_block": 23,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-02T23:10:12",
  "op": [
    "comment_options",
    {
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "max_accepted_payout": "1000000.000 SBD",
      "percent_steem_dollars": 0,
      "allow_votes": true,
      "allow_curation_rewards": true,
      "extensions": []
    }
  ]
}

{
  "trx_id": "21785a38ba1120341f13a7ce36ca8262b7b8c093",
  "block": 15990142,
  "trx_in_block": 23,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-10-02T23:10:12",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "cryptocurrency",
      "author": "marsgrins",
      "permlink": "the-benefits-of-algorithmic-rebalancing-of-cryptocurrencies",
      "title": "The Benefits of Algorithmic Rebalancing of Cryptocurrencies",
      "body": "![](https://steemitimages.com/DQmNwUPBFfPhAui8p3RoUeJG7Aker98TQeFm3JRBD3597MV/image.png)\n\nCan you make more significantly more money by rebalancing your crypto portfolio?  How often should you do it?  Read on to find out.\n\n\n## What is Rebalancing?\nAsset rebalancing is a simple portfolio management strategy.  If you have a portfolio of  investments in different ratios, as time goes by some investments will perform better than others and the ratios will change.  If this is undesirable to you, every so often you can rebalance your portfolio by selling some of your investments and buying others until your portfolio ratios are back to where you want them to be.\n\nThe first benefit of this strategy is its simplicity.  Rebalancing to a pre-defined ratio is a fully-defined mathematical operation.  It does not rely on any predictions or guesswork about where the market will go, and it can be easily accomplished by a computer.\n\nMost investment strategies  other than passive hodling rely on being able to predict future market movements (or merely believing you can).  Rebalancing, however, supposedly offers some benefit without any prognostication at all.  Therefore, it is supposedly useful even in a purely efficient market (i.e. a market where all information about the future is instantly priced into the market and research-based trading is impossible).  The theory goes that by forcing you to sell your overweight assets and buy your underweight assets at predefined points, in a volatile market you will end up selling high and buying low over the long run and earn more profit.\n\nIn this post I will investigate the benefits of rebalancing in simple portfolios of cryptocurrencies.\n\n## Does Rebalancing Work?\nLet's consider a simple portfolio of two cryptocurrencies. I used Bitcoin and Litecoin because they are the oldest and have the most data.  Let's say you want to make a portfolio of these two assets.  Do you believe that one of these assets will significantly outperform the other in the future?  If so, you should just put all of the portfolio in that one asset.  If not, or if you are unsure, let's assume that the expected value of the two assets are equal at their current prices.  This is a reasonable assumption:  the current prices are, by definition, the points at which the market believes on average the expected future growth is equal.  If everyone in the market believed that the LTC/BTC ratio will be twice as high in a week, no one would be willing to trade LTC for BTC at the current price, and the market would quickly settle to the predicted exchange rate.\n\nTo simulate this equal expected value assumption, I used daily USD/BTC and USD/LTC opening prices for the time frame  of 10/19/13 to 8/24/17, because the LTC/BTC ratio was about the same on both of these days.  If you had invested $100,000 USD in either Bitcoin or Litecoin on 10/19/13, your portfolio would be worth about $2,700,000 on 8/24/17.\n![](https://steemitimages.com/DQmcKfdHFQrsB6VFbGo6WCQaNS3cBsVvNmgDuah1x8QWkka/image.png)\nLet's compare that to a simple asset rebalancing strategy: Start with 50% of your $100k in each coin, and every day rebalance back to 50/50. (I assumed a 0.25% exchange fee.)\n![](https://steemitimages.com/DQmYymSWog8k6Kj5huEyUXsxV7oPorc9wKF7QAmfL1KNbCe/image.png)\nImpressive!  An incredibly simple rebalancing strategy beats the pure strategies by 1.6x, and leaves you with an ending balance of $4,300,000.\n## What if You Try Different Ratios?\nLet's try simulating portfolios of 25% BTC and 75% BTC with daily rebalancing as well.\n![](https://steemitimages.com/DQmUzpuv8RMLWRhoFEELCdwNdpEtjdnBvNVmSJ7f54wBUS1/image.png)\nThey both end with a balance of $3,800,000.  Not as good as the 50/50 portfolio, but interestingly, they are much closer to the 50/50 results than the pure portfolios' results.  This suggests that the benefits of rebalancing are roughly quadratic.\n![](https://steemitimages.com/DQmQTPgEBWuhJ6kSCm7GwnkrRHnWUy4aWA5LB73HDwh3zeG/image.png)\n## What if You Change the Rebalancing Period?\nI simulated the 50/50 BTC/LTC portfolio with rebalancing periods of 1, 2, 4, 7, 14, 30, 60, 150, 300, and 750 days.  Here are the results.\n![](https://steemitimages.com/DQmSacjqzguWEeeLbRKQWyyad9XCDkM3QyHctERvipZuSx2/image.png)\nThis chart is pretty hard to read, so let's zoom in on the last four months.\n![](https://steemitimages.com/DQmdhfz6wo65xG5vzmyJBmPjdmRzfdf5zmJkGDvcH4aNCTa/image.png)\nThere is some variation in results, but it seems that profit is uncorrelated with timescale below 60 days. After 60 days, profit seems to fall off, indicating we are rebalancing too infrequently to get the full benefit.\n![](https://steemitimages.com/DQmT3mbeoG43UfH4h4UV3uqaMfSrJhwtMN3btbJHgcy6jN2/image.png)\nMy conclusion would be that you can safely save on transaction fees and effort by rebalancing every 60 days instead of every day, but go longer than that and you start to lose the rebalancing benefit.\n## Algorithmic Rebalancing\nInstead of blindly rebalancing every x days, you could choose to rebalance only when your portfolio is sufficiently out of whack.  For example, let's try rebalancing our 50/50 BTC/LTC portfolio every time one cryptocurrency rises to more than 65% of the portfolio.\n![](https://steemitimages.com/DQmQQcDsx4VRCFHJomKttP6YRMk2s9fK2FV4h2bcXftP3iK/image.png)\nThis gives us an ending balance of $4,900,000, which is better than any of our period-based portfolios!  Furthermore, in 4 years the portfolio only hit the imbalance trigger 9 times.  That's pretty incredible:  *We earned two million dollars more than a 50/50 portfolio with no rebalancing by trading only 9 times, in a way that was completely algorithmically predetermined.*\n\nI chose the 65%/35% rebalancing trigger in the above graph at random.  What is the optimal rebalancing trigger ratio to use?  Here are the results of portfolios with rebalancing triggers at 51%, 52%, 55%, 60%, 65%, 70%, 75%, and 80%.\n![](https://steemitimages.com/DQma1nTqm1gNAEZyn9Z82LZAunbpdvYjLCvGvKQwiUcHh8b/image.png)\nThe best ending balance, of $5,100,000, occurs at a 70%/30% rebalancing trigger:\n![](https://steemitimages.com/DQmYMLas9sWRX6MLzgMxALpP5U8SaTyv5S3CC3XRBLoevn2/image.png)\nBut it seems like anywhere in the 70%-75% range is pretty good.\n\n## Conclusion\nIf you have a portfolio of cryptocurrencies that you believe have approximately equal expected future performance (based on current prices), and you are planning on passively holding them for the long term and not trading based on news and future predictions, then you can improve your expected performance by rebalancing your portfolio.  Rebalance at least every two months, or better yet, pay attention to your portfolio and rebalance whenever any of your assets is less than 50% or more than 150% of the target percentage.\n\nThanks for reading!",
      "json_metadata": "{\"tags\":[\"cryptocurrency\",\"finance\",\"money\"],\"image\":[\"https://steemitimages.com/DQmNwUPBFfPhAui8p3RoUeJG7Aker98TQeFm3JRBD3597MV/image.png\",\"https://steemitimages.com/DQmcKfdHFQrsB6VFbGo6WCQaNS3cBsVvNmgDuah1x8QWkka/image.png\",\"https://steemitimages.com/DQmYymSWog8k6Kj5huEyUXsxV7oPorc9wKF7QAmfL1KNbCe/image.png\",\"https://steemitimages.com/DQmUzpuv8RMLWRhoFEELCdwNdpEtjdnBvNVmSJ7f54wBUS1/image.png\",\"https://steemitimages.com/DQmQTPgEBWuhJ6kSCm7GwnkrRHnWUy4aWA5LB73HDwh3zeG/image.png\",\"https://steemitimages.com/DQmSacjqzguWEeeLbRKQWyyad9XCDkM3QyHctERvipZuSx2/image.png\",\"https://steemitimages.com/DQmdhfz6wo65xG5vzmyJBmPjdmRzfdf5zmJkGDvcH4aNCTa/image.png\",\"https://steemitimages.com/DQmT3mbeoG43UfH4h4UV3uqaMfSrJhwtMN3btbJHgcy6jN2/image.png\",\"https://steemitimages.com/DQmQQcDsx4VRCFHJomKttP6YRMk2s9fK2FV4h2bcXftP3iK/image.png\",\"https://steemitimages.com/DQma1nTqm1gNAEZyn9Z82LZAunbpdvYjLCvGvKQwiUcHh8b/image.png\",\"https://steemitimages.com/DQmYMLas9sWRX6MLzgMxALpP5U8SaTyv5S3CC3XRBLoevn2/image.png\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}

{
  "trx_id": "921d3a21103dadafc3728b3541da18885964f5db",
  "block": 15844184,
  "trx_in_block": 18,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-09-27T21:24:12",
  "op": [
    "comment_options",
    {
      "author": "marsgrins",
      "permlink": "why-i-donate-10-of-my-income-to-charity-and-you-should-too",
      "max_accepted_payout": "1000000.000 SBD",
      "percent_steem_dollars": 0,
      "allow_votes": true,
      "allow_curation_rewards": true,
      "extensions": []
    }
  ]
}

{
  "trx_id": "921d3a21103dadafc3728b3541da18885964f5db",
  "block": 15844184,
  "trx_in_block": 18,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-09-27T21:24:12",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "charity",
      "author": "marsgrins",
      "permlink": "why-i-donate-10-of-my-income-to-charity-and-you-should-too",
      "title": "Why I Donate 10% of my Income to Charity, and You Should Too",
      "body": "Do you have a personal moral code?\n\nDo you try to live your life in accordance with that code, doing the morally right thing whenever possible?\n\nDo you believe that it is morally commendable for people with plenty of disposable income to donate some of their money to life-saving charities?\n\nIf there are two charities, A and B, and A saves more lives per donation dollar than B, is it morally preferable to donate to charity A?\n\nIf you answered “yes” to all four of these questions, as I did, then you agree with the fundamental logic of the [Effective Altruism](https://en.wikipedia.org/wiki/Effective_altruism) movement. After researching this movement a lot this year, I decided to greatly increase the amount I to donate to charity.\n\nThree tough questions remained: Which charities should I donate to? How much? And when?\n\n-----\n\nTo answer the first question with any rigor, you would need to research thousands of charities, evaluating and verifying their claims and ranking them by impact. The good news: several organizations have been doing exactly that for years, and their results are easy to find online. One excellent website is [GiveWell](http://www.givewell.org/). Their top ranked charity is the [Against Malaria Foundation](https://www.againstmalaria.com/), which distributes insecticide-treated mosquito bed nets in sub-Saharan Africa. This is an excellent way to save the most lives with your dollars: Malaria kills more than a million people each year, most of them children, and producing and distributing bed nets costs about $5 each. Additionally, the AMF takes care of their own administration costs, so 100% of your donation goes to buying nets. By dividing the cost of the nets by the decreased chance of contracting fatal malaria for children under 5 who sleep under a net, [GiveWell estimates that the AMF saves the life of one child for every $2,838](http://www.givewell.org/international/top-charities/AMF) they receive.\n\nI don’t know about you, but to me that sounds like quite a bargain. If a friend of mine had a kid who needed $2,800 for a life-saving operation, I would write them that check in a heartbeat. For comparison, [one life is saved in the US for every $30,000 spent on automobile seatbelts or every $1,800,000 spent on airbags](http://freakonomics.com/2011/01/11/an-air-bag-wrinkle-to-consider/).\n\n-----\n\nThe second question (how much to donate) is tricky. Logically, it is more moral to spend every $2,800 of disposable income I have on saving a child from dying than on my hobbies and luxuries. Is the only moral life the life of an ascetic? Fortunately, there’s a way out of this trap: If I really donate every single dollar I can, I’m not likely to convince anyone else to do the same. But if I donate a smaller percentage of my yearly income, I might inspire other people to follow my example (possibly in a Steem post!), who might inspire others, and the branching chain of donations could exceed 100% of my income. Even better, I could join a group that has coalesced around a particular donation number. As it grows, the impact and recruitment of the group could potentially grow super-linearly.\n\nAs you may have guessed, yes this organization already exists, and I’m a proud member. They’re called [Giving What We Can](https://www.givingwhatwecan.org/), they’re big fans of the AMF, and their number is ten percent.\n\nWhy ten percent? Permit me to quote a [post](http://slatestarcodex.com/2014/12/19/nobody-is-perfect-everything-is-commensurable/) by Scott Alexander of the incomparable blog Slate Star Codex: \n\n_“The most important thing is having a [Schelling point](https://en.wikipedia.org/wiki/Focal_point_(game_theory)), and ten percent is nice, round, [divinely ordained](https://en.wikipedia.org/wiki/Tithe), and – crucially – the Schelling point upon which we have already settled. It is an active Schelling point. If you give ten percent, you can have your name on a nice list and get access to a secret forum on the Giving What We Can site which is actually pretty boring._\n\n_It’s ten percent because [definitions were made for Man, not Man for definitions](http://slatestarcodex.com/2014/11/21/the-categories-were-made-for-man-not-man-for-the-categories/), and if we define ‘good person’ in a way such that everyone is sitting around miserable because they can’t reach an unobtainable standard, we are stupid definition-makers. If we are smart definition-makers, we will define it in precisely that way which makes it the most effective tool to convince people to give at least that much._\n\n_Finally, it’s ten percent because if you believe in something like [universalizability](http://slatestarcodex.com/2014/05/16/you-kant-dismiss-universalizability/) as a foundation for morality, a world in which everybody gives ten percent of their income to charity is a world where about [seven trillion dollars](http://www.bbc.com/news/magazine-17512040) go to charity a year. Solving global poverty forever is estimated to cost about $100 billion a year for the couple-decade length of the project. That’s about two percent of the money that would suddenly become available. If charity got seven trillion dollars a year, the first year would give us enough to solve global poverty, eliminate all treatable diseases, fund research into the untreatable ones for approximately the next forever, educate anybody who needs educating, feed anybody who needs feeding, fund an unparalleled renaissance in the arts, permanently save every rainforest in the world, and have enough left over to launch five or six different manned missions to Mars. That would be the first year. Goodness only knows what would happen in Year 2._\n\n_By contrast, if everybody in the world retweeted the latest hashtag campaign, Twitter would break.”_\n\nNow for some people’s personal financial situations (such as for those who have kids), donating 10% of their income may not be feasible. But I don’t have such an excuse. And if you DO have that kind of money but are balking at the cost, consider this: Do you think the happiness you would feel from doubling your current net worth is about the same magnitude as the sadness you would feel from losing half of that money? If so, then like me you have a subconscious [logarithmic utility function](https://en.wikipedia.org/wiki/Kelly_criterion). And that means [earning $90,000 a year will feel 99.085% as good as earning $100,000 a year](http://www.wolframalpha.com/input/?i=log(90000)%2Flog(100000)). Plus or minus.\n\n-----\n\nIf you buy my arguments about where and how much to donate, the final piece of the puzzle is “when”. But before that, I have a big confession to make: I was lying. The $2,838 dollars-per-life-saved number I quoted above is completely wrong.\nHow so? Simple: charitable donations to the AMF are tax deductible! It’s actually even cheaper than that! You can multiply $2,838 by one minus your current tax bracket (highest bracket, not even average bracket!) to see how much it actually costs you. If you’re in the 28% bracket, a life-saving donation only costs you $2,043. Uncle Sam will pay the rest.\n\nKeeping that in mind, there is an optimal day of the year to donate: December 31. Then, no matter when you do your taxes, you’ll have the shortest window between donation and tax refund. If you donate on January 1 instead, the government will give you your tax refund check 365 days later.\n\n-----\n\nSo that my personal rationale.  Thanks so much for reading my first Steem post.  Upvotes and comments are much appreciated!",
      "json_metadata": "{\"tags\":[\"charity\",\"effectivealtruism\",\"givingwhatwecan\",\"againstmalaria\",\"givewell\"],\"links\":[\"https://en.wikipedia.org/wiki/Effective_altruism\",\"http://www.givewell.org/\",\"https://www.againstmalaria.com/\",\"http://www.givewell.org/international/top-charities/AMF\",\"http://freakonomics.com/2011/01/11/an-air-bag-wrinkle-to-consider/\",\"https://www.givingwhatwecan.org/\",\"http://slatestarcodex.com/2014/12/19/nobody-is-perfect-everything-is-commensurable/\",\"https://en.wikipedia.org/wiki/Focal_point_(game_theory)\",\"https://en.wikipedia.org/wiki/Tithe\",\"http://slatestarcodex.com/2014/11/21/the-categories-were-made-for-man-not-man-for-the-categories/\",\"http://slatestarcodex.com/2014/05/16/you-kant-dismiss-universalizability/\",\"http://www.bbc.com/news/magazine-17512040\",\"https://en.wikipedia.org/wiki/Kelly_criterion\",\"http://www.wolframalpha.com/input/?i=log(90000)%2Flog(100000)\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}

{
  "trx_id": "5f48135996ae97b46677bcdbe22da0d24df0a48a",
  "block": 15842778,
  "trx_in_block": 18,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-09-27T20:13:54",
  "op": [
    "vote",
    {
      "voter": "marsgrins",
      "author": "dollarvigilante",
      "permlink": "blockchain-the-greatest-paradigm-shift-of-our-generation",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "5df5c76e787235052deb0a1d81c5243784989ccb",
  "block": 15842425,
  "trx_in_block": 7,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-09-27T19:56:15",
  "op": [
    "account_create_with_delegation",
    {
      "fee": "0.500 STEEM",
      "delegation": "57000.000000 VESTS",
      "creator": "steem",
      "new_account_name": "marsgrins",
      "owner": {
        "weight_threshold": 1,
        "account_auths": [],
        "key_auths": [
          [
            "STM8NTgLVByA2DvqnTVZ1HCmTVjNtRjw8ZUc2JNdDNoLvpzAgVmpU",
            1
          ]
        ]
      },
      "active": {
        "weight_threshold": 1,
        "account_auths": [],
        "key_auths": [
          [
            "STM7duBcDVdeYVPrNREEiFFjDpA7c8pe5RnHnkDsBD4rsQMeK7bqa",
            1
          ]
        ]
      },
      "posting": {
        "weight_threshold": 1,
        "account_auths": [],
        "key_auths": [
          [
            "STM5Tu6RscbTHKYqeF98wJqy94A8ooGHY4rtBGFC9UWWGJ8U192vb",
            1
          ]
        ]
      },
      "memo_key": "STM6AVbwbaHMUpuDSH58WWNRqWo391d5qtzAQPHJM2ttzEsKB8Whd",
      "json_metadata": "",
      "extensions": []
    }
  ]
}