reconsidering my crypto investments - buying more STEEM and what else?
Consolidating into STEEM
I am taking a "risky" path with some of my crypto holdings. It's true I would be much better off if I never invested in STEEM. My BTC, LTC positions have held stronger since my trades, but my STEEM rewards "dividend" grows my STEEM position, even without increasing my future potential returns.
Why
Mostly because STEEM is the only crypto I am using. My BTC, ETH, DASH, LTC all just sit on my ledger for HODL.... but they might not be for long. I don't like the direction of some of the projects and I start to question the "store of value" line of thinking for BTC.
I use STEEM daily, LTC use It to pay people, transfer to exchanges and enter fiat to crypto.the rest.... not used, so why hold them.
I recent sold enough BTC to invest in @silver-hammer for a month. STEEM falling 30% hasn't helped the returns , but I have yet to miss a day posting.I decided to gamble a bit more and sign up for the next two months too. Combined with buying up to copper for @ssg-community the past two months increasing my drive to publish at least once a day.
Last month I traded 3 LTC for 22k CDM tokens, and jumped in to [stakinglabs.io] I have done a mix of reinvesting and pulling out profits, unfortunately CDM has fallen 50%. I am up to 31k CDM tokens and sold enough tokens to get 70 STEEM. Overall I am about breakeven if/when CDM recovers. The Node investment just went from 50k to 100k, causing several nodes to stop paying, or to restart the staking window. The stoppage in rewards has me considering pulling the plug for more STEEM.
What are you doing with your portfolio?
Stack on!!
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I put on some yellow pants and tried to catch the knife!
I know that feeling - I always try to catch the knife.
I'm not sure on the long term direction of Steem...I think there is overoptimism among those that have already gone all-in and drank the cool-aide, but in a rising BTC market, I think the Alts will out perform.
I can see that, within any echo chamber you run the risk of losing perspective.
Coins mentioned in post:
nice question
I've been ditching any coins that aren't POS. I've bought more TRX, VET, IOTA (not a staking coin, but my favorite) and EOS.
I agree, most of the new projects I like tend to be POS vs POW.
a lot of the new staking coins to me are just a race to the bottom with node rewards!
I'm doing mostly the same thing as you, steem, litecoin and EOS.
I just can't quit LTC for some reason, and EOS seems to have their shit together vs ETH lately.
Thank you for your continued support of SteemSilverGold
Monero is a good buy IMO!
I love Monero, but sold it because I couldn't put it on my ledger.
Now I need to update my ledger and see if they got it working yet.