Cryptocurrency

So obviously, if I am on a platform such as Steem I must know a bit about cryptocurrencies right? Well, yes and no.

In June of 2017, my friend Phil told me about a crazy thing that happened to him recently. He turned about a hundred bucks into $6,000! I was like "what the hell, how did you do that?" That's when Phil began the long, excited discussion about cryptocurrencies and blockchain technology. He could barely contain himself! It seemed like a new way to make a living, a way where I could do what I wanted to do and make just enough money to prevent death. There is some work to it, obviously you have to do your research. But the differnece with Phil was that I believed him. He is a real person I know and trust and he had done it. Unlike all of these Facebook and banner ads explaining how a "stay-at-home mum makes $1,236.65 per day using this little known secret". Maybe all those stay-at-home mums were trading on Crypto exchanges! Maybe I should have clicked.

So the story with Phil, he is a carpenter. He builds houses but fortunately last year he had a work related injury which put him basically out of work. With all of this free time, Phil heard about cryptos and started researching. Just before the big Ethereum boom of Jan/Feb Phil made a decision to put some lazy $$$ on. From trading at around $10AUD for one ETH token, it boosted up to over $300 and now even higher. He got to ride that rollercoaster and wanted everyone to come and play with him! That's where we come in. He told me and and I spoke to my wife about it and started to do my own research. Let me just say it is insane the amount of time you can spend researching. ICO's, coinholder meetings, AGM's, it seems to never end! But like they say, you have to be in it to win it, and I intend to be in it. So, now I spend a fair bit of time researching. Waiting for the right times to exchange. Always hold through the tough times, as it always (and I say always), picks back up.

I saw a steemit article recently from a data scientist (@ashr) who calculated what your wallet would look like if you had invested $100USD into each of the top 100 cryptos on coinmarketcap.com one year ago. Discounting a couple of outliers and a few who had been discontinued the grand total was over $109,000!!! Imagine! I mean the initial investment is a scary one, $10,000. And as much as I would like to say yeah lets do it. I don't think I would have the balls to put that much money down at once. Then again, if you don't take that risk you won't make that win..

I wonder though, in a years time from now. What would that turn into. With all the governments getting involved and banks etc, it really seems like the crypto world is set for another blastoff. So stay tuned. Hold on. And most of all, have fun!

Ps, I am interested to know how other people got into the cryptocurrency world, let me know in the comments below!