I just added IOTA to my trust fund portfolio
This is my constantly updated percentages of my "trust fund" portfolio which will contain no more than and no less than 5 cryptocurrencies/tokens once I fill it up with the original 5. Started AUG 14th. The goal is a 300% yearly return for the next 3 years. See previous posts for more information
TRUST FUND
40% btc placed in trust fund at $4300 price AUG 14th
20% DASH bought at approx $227 Aug 16
20% OMG bought at $8.17 Aug 16th
20% IOTA bought at $1.04 Aug 16th
But why did you do it? Do you understand how it works? What are the pros and cons? I am interested in IOTA, but as of now - I have more questions than answers. Right now I have doubts it can actually work.
I read the whitepaper and some blogs on it, however, most bloggers just blindly repeat what they read on IOTA blog.
IOTA is vulnerable to Sybil attack - at least in the beginning. The claim that there will be no fees - is IMO ridiculous - as people will mine the PoW on dedicated miners with GPU and then sell those services to those who want to transact for ... fees. If you really want to transact a lot - like millions of micro transactions per day - you will find it is more efficient to do the PoW on GPUs instead of runing it on some micro chip that is not dedicated to mining. Someone will do just that - the miner will collect transactions from others and then send them to the tangle and validate other transactions with GPUs. But wait - do you think the miner will pick the transactions he needs to validate randomly? No, he will pick his own transactions.
Now, let's assume the miner stumbles upon a transaction that was already "validated" by some other miner but the transaction is actually invalid. Do you think the miner will be motivated to declare this transaction as invalid? What if the evil miner will retaliate by declaring his transactions to be invalid? What if the evil miner is actually a lot more powerful than you? Probably, it is safer to just ignore this transaction and pick some other one.
So, there are a lot of issues with IOTA - we need answers.
What exchange did you use to purchase those IOTA? I'm a US citizen and ended up selling off all my IOTA since Bitfinex was closing it's doors to the USA.
I used bitfinex It will be open to US customers at least for 90 days more I understand.
I love the idea, but I have a question... why did you decide to buy at an all time high, instead of figuring out which 5 currencies you will get, accumulate the FIAT and buy in 2-4 weeks when prices will be lower?
because buying when something is trending downward is not as profitable as when it is making new highs. I know this seems counter to common advice but if you check out the CANSLIM stock selection process which made over 25% a year returns for decades it would buy as stocks were making new highs. To catch a rocket to the moon you don't get on it when it is falling to the ground but as it is taking off lol
the other thing is the price may not ever be lower than the current moment.
My portfolio almost matches yours! I have IOTA, EOS, Steem, Ethereum, and OMG. Did you notice the continuing upward move on IOTA without any major news being announced? Something is up!!!
yes my formula picked iota because it has shot up into the top twenty plus it made a weekly high and I love it and can not find any negative news big enough not to accumulate it.
yeah i got a lil OMG and some other new coins on bittrex liek adex and metal, and yeah EOS is gona be huge but long tyerm
I think wegotta trade or somethinv....use a trade bot, its gotta be simple, i mean these changes are always happening, or maybe just discipline...nah buy and hold is so much less stressful!
man if you pick the right altcoin ICOs you can really replace the need for a day job! DTrading crypto seems like it would be the ultimate job if you can just become a robot about it! Something about making money from a computer is just so 90s, its connected to this amazing feeling of being able to make something out of nothing, this nostalgia I have for the early days of being able to make money online, its a very specific feeling of having fun from a simple blog...people take the blog for granted but i remember a day when just reading a website and having images from around the world was magical and more lik reading a Book, you imagined stuff in your head and filled in the blanks! now we have HD video of th world and it makes tit easy to go see any country on earth, but you can still make an extremely interesting blog and i remember one of my favorites was freshcreation.nl and trhecoolhunter.net and a few others also i lvoved that website deviantart back in like 2003 and i remember livejournal and all sorts of forums back in the day, they were so fun, people sharing photos from all over the world, we didnt have the internet so honestly travel wasnt as easy you didnt have smartphones, the idea of using a comp[uter outside like that was se science fiction dream! Anyway this is ana amazing time we live in, and being creative is the ultimate reward being able to buy a warehouse and create videos and artwork and invite artists to create and make music and have a studio and make youtube channel with cool art, that's my dream and have something in san diego like an open media studio downtown where people can come and make music and make art and it will be used as a venue for music and stuff on weekends, but nothing like a nasty EDM party but chill outdoor areas and nice lounge areas,just chill music no aggressive stuff lol unless its a super special occasion, and we could hold bitcoin confrences like after school programs to teach young people crypto, we can get all the social outcasts who wanna run away from their parents and make their own money lo,, i know there are a ton of kids out there who would love to learn crypto but have no idea it exists! i know there are a TON of worthy souls right here under our noses who we would mentor and help become steemit super stars , I bet that would help us get to the top too! if we started really findingf local young people who really want to make some money, we should put up craigslist ads the ones u pay for, a job listing, and actually promote steemit as real work at home type job, but with an office or a warehouse we could have a physical location maybe even setup a computer lab so we could have a place for people to steemit from, i mean we could also teach people at the library how to use steemit, we could just hold steemit seminars at the library, i fel ilike if i had 20 people in front of me, all on computers, not smarrtphones but easier to use desktop computers or laptops, and they all had steemit accounts ready, i feel like i could really get a lot done!
Good sharing.
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