New Portfolio Diversification Score for Crypto Millionaire! - Super early sneak peek

in bitcoin •  8 months ago

Sneak main1.png

Hello my fellow Steemians and Crypto investors,

As I have previously been doing as we work on new updates to Crypto Millionaire I will be posting sneak peaks of new features being developed.

This time I'm very excited because I will personally use this update a lot and, it involves working with math and statistics, which I love, so it's a win-win!

So, here's a very early sneak peak of what's coming. This may change in the final version, it is still very experimental and we are still gathering feedback on how to improve it so please don't consider it written in stone just yet.


Sneak1.png
You will be able to see, at a glance in a graph and two separate dropdown lists, the coins on which you have over or under invested

Besides getting a graph plotting your coin investments and how diversified they are against the mean of your holdings you will get an overall "Diversification Score" that will let you know how well diversified you are and strive for a perfectly diversified portfolio.

This score will be kind of similar to the "Credit Scores" we are all familiar with in that it will feed from multiple variables for its calculation. Factors such as the number of coins you hold, their ranking and the variance to the mean of your holdings will influence the score.

Question for the crypto investing community:

What kind of score would you prefer?

  • 0 to 100 Points

  • 0 to 1000 Points

  • -100 to +100 Points

  • Bad, Fair, Good, Excellent

  • Other ideas?

Please select by writing down your preference or new idea on the comments below. All ideas are welcome and will be evaluated! Remember, this is still a work in progress and we are breaking new ground.

Who knows, maybe in the future this score will be called after your name ;)

So, what do you think? How do like this new feature?

Do you have other suggestions and ideas you would like to see available in Crypto Millionaire?

Do share your thoughts with the Steemit community and the developers in the comments below!

DOWNLOAD CRYPTO MILLIONAIRE from Google Play


Millionth of Supply indexing strategy in detail

What percentage should you invest in each coin to become a multi-millionaire? A winning index strategy

millionaire.jpg

Investing in crypto is becoming a safer bet each year as Bitcoin and altcoins get older, improved and better established. We are still in the very early days of crypto and the opportunity to strike it rich is well within reach of most people, provided they have access to the internet, modern banking and a little disposable income. However, for most new investors coming into the crypto space deciding which coins to invest in and how much is a very complicated issue.

There’s so many of them, so much information, high tech jargon and amazing promises that sound more like lies uttered by politicians than from the nerdy developers that are pitching them. Every new coin is hyped, packaged and sold like the next Amazon... However, despite all the hype and noise, we can now say with a high degree of certainty that some of them will make it big in the future, but which one(s)?

Facebook vs Crypto.png
Interesting fact: All users of crypto currencies today represent less than 1% of the number of current Facebook users. More details

The reality is, no one knows, whoever tells you they do, they are flat out lying, fooling you and themselves. This market looks very much like the early car industry in the United States. Thousands of car brands appeared everywhere, a lot of them were very promising (remember the DeLorean?), but most eventually went bankrupt, only a few succeeded in the long run.

So, how do I know which coins will succeed?

The simple answer is you DON’T. Trying to pick winners is very dangerous game that most people lose, those who don’t are demonstrably just plain lucky and end up losing everything the next time they bet big. The strategy that I’m introducing guarantees the winners come to you, rather than you pick them up.

How much money should I put in each?

This is a huge conundrum for most investors. With so many coins available and limited disposable income to invest it’s hard to distribute the funds in a sensible way.

Introducing the Millionth of Supply Passive Indexing strategy and the Crypto Millionaire app:

Crypto Millionaire is an app that feeds from the Coinmarketcap’s API and lists (or indexes) the top coins by market cap and daily trading volume. The coins at the top give you a pretty good idea of the current coins being favored by the market.

DOWNLOAD CRYPTO MILLIONAIRE from Google Play


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"Most of the wealth from the millionaires and billionaires of today will be transferred to crypto investors like you and me when cryptocurrencies become mainstream reserve currencies."

The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap . This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply .


Screenshot_20180129-104310.png
Screenshot of Crypto Millionaire showing the USD value needed to own the millionth of supply of the top coins ordered by market cap. Follow me @CryptoEagle for updates.

It doesn’t matter if you invest $100 dollars every month or $100,000 at once, your goal will be to own the millionth of the supply of the top coins as soon as possible by spending only disposable income . So, if for example, all you had is $100 dollars to invest monthly, you would invest this amount in each top coin according to the percentages shown, no more, no less. At the bottom of the app is the total amount in USD you would need to invest to do this for your favorite coins.

How rich will you be if you follow this strategy?

There are currently an estimated 10.5 trillion dollars in existence. If you owned a millionth of the supply of US dollars right now you would own about ten million five hundred thousand dollars!

Millionaires-graphic.jpg

In the United States alone, at end of 2016, there were 10.8 million millionaires, according to a study from Spectrem Group's Market Insights Report 2017.

Credit Suisse estimates there are about 35 million millionaires in the world (including all financial and nonfinancial wealth, such as assets, collectibles, and homes). If we compare this number to 21 million, the total number of Bitcoins that will ever exist, we can see that there won’t ever be enough Bitcoins in the world for every millionaire to even hold just one!

Also, this doesn’t account for the disruption of other industries such as remittances, Gold as a store of value and many other new uses of crypto currencies that we can’t even dream of today. As an example, if Bitcoin overtook just 5% of the market cap of Gold, a single bitcoin would be worth approximately $24,000 USD.

money feelings.jpg

But, “introduce any crazy coin name here” is so great, the technology is amazing, so exciting. It’s the future, my guts tells me!

Yeah right, the market doesn’t care about your hunches, white paper promises, or all those great technologies that people sell as the best thing since Coca Cola. Nope, only market cap, volume and related network effect can tell you what coin will end up being favored by the market.

You must re-balance every once in a while

About every 3-6 months you should take a look at the index and re-balance it. If any coins dropped in market cap sell them and re-invest the money on the top coins until you own the millionth of their supply. If there are new coins rising to the top you should invest in them until you reach the goal as well, no more (over invest), no less (under invest). If you don’t do this you are risking missing the upcoming coins and keep investing in the long term losers.

Don’t invest on coins that only briefly come to the top
(Especial thanks to @famunger for contributing to this point)

Even though market cap gives you a pretty good idea of the top 4-5 coins, as you go down the list you will see, every once in a while, some temporarily overhyped coins that come up but can’t sustain their ranking and eventually crash. Only invest in coins that manage to maintain their top rankings for at least 3 months or more. Don’t fall victim to the Fear of Missing Out (FOMO) so typical in this world.

Advantages of this strategy:

  • You will be almost 99% guaranteed to become a multimillionaire by owning the top coins the market finally ends up favoring. You will certainly sleep like a baby!

  • You can start investing with very limited funds and continue investing periodically. Even if you don't get to own the millionth supply of every top coin you'll be certain you did as best as you could with your limited resources.

  • You won't over or under-invest in any particular coin and thus keep risks at a minimum.

  • You’ll skip all the typical drama of investing in cryto. The Fear of Missing Out (FOMO), the Fear, Uncertainty and Doubt (FUD), the daily crashes, the pumps and dumps etc. will not rattle your nerves and send shivers down your spine every time they happen.

Disadvantages:

  • This is a boring, long term, no feelings involved, passive strategy, you will not have the adrenaline rushes and enjoy or suffer all the crypto drama. Picking winners is reduced to a simple to follow probabilities game.

  • There may be coins that gain 1000 percent in a few weeks that won’t show up in the index until their market cap grows to the top and which you will miss but, on the bright side, you’ll also miss the big losers, the suicide inducing and family wrecking crashes.

  • There’s still the slight possibility (the 1% chance) that the entire crypto world is a huge bubble that will never work, the Internet could come crashing down after an EMP attack or a meteorite could strike earth... In which case we are all screwed anyways and should worry more about food and bullets to fight the zombies...

CHECK OUT MY PREVIOUS POSTS:

Crypto Millionaire updates successfully published

These new Crypto Millionaire filters will help you find the best ranked value coins

How to bring normies to Steemit in three easy steps

Quantum Doom for Crypto? It’s all FUD and here’s why

WOW! Crypto investing app hits #4 trending on Google Play Finance! Just below Paypal and Zelle!

"It's Been Dismal" - Gold Coin Sales Slump As 'Bugs' Bounce To Bitcoin

Why China (or governments) can’t stop crypto

The case for a million dollar coin! - Cryptocurrency wallet users vs Facebook users. Where are we now?

Tell the community what you think of this post in the comments below.

Follow me for updates news and commentary on "sane" crypto investing.

Happy crypto investing!

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I would go with 0-100 because it is very close to our daily use numbers. We use 0-100 in our daily life most of the time as compared to others.
I would like to have it but the thing is don't have much investments to add on it :p

The number of Bitcoins versus the number of millionaires in the world was quite interesting. There isn’t enough Bitcoins even for each millionaire to hold one. I’m working on getting my 1 Bitcoin! Thanks for the post! Resteem

@cryptoeagle it could be very helpful to have post with accurate information, necessary and good classification.
The score could be a vertical bar thinny, divided into 4 colors (red, yellow or orange, light navy blue and bright forest green ), each color shows shades along of it place; the bar could or not to shows numbers 1-100.
Go ahead. I voted you.

I am for the bad, fair, good, excellent because that keeps it the most simple

I prefer "Bad, Fair, Good, Excellent". Having numbers makes it seem like diversification is more concrete. 100% makes me feel like my portfolio can't be more diverse (it always can). I feel that using "Bad, Fair, Good, Excellent" as descriptors is more accurate; they are abstract, subjective terms for an abstract, subjective measure.

Nice topic . Thanks For share this . @cryptoeagle

Upvote and resteem

0-100 is the best in my opinion.

I do not like the idea of a negative on there...we see enough negatives in life. LOL

Another great update...you just keep adding to it. I am thinking about a post highlight yours newsfeed of the coins....it really is a helpful feature.

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So true! We have the msm reporting fake and negative news all the time so why add more of it to our lives? hehe. 0-100 was my choice from the start but I want to see what the community thinks, maybe someone comes up with a better range even.

I would love that post! I use the news tab a lot too, it keeps me up to date on the coins without having to do google or twitter hashtag searches. Regards

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Post is up my friend....

Hopefully it sends a few people to Google Play to download.

How are the stats looking these days? You getting lots of downloads?

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Yeah, I used voting bots to boost it. Not only do I get more exposure for CM but also more followers in Steemit. It's not always a great ROI but it helps a lot for exposure.

The downloads have slowed down to about 150 daily , it used to be 800 daily :) but it keeps growing slowly but surely.

Your Appis really nice, but Crypto Millionaire isn't the App I would download. For me it's not nessessary.

I have been seeing this app all the time. I didn't get it because of the logo. Is it for real?

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Are you for real? Haha. What's up with the logo? regards

Fear of missing out really hits the spot. We always fear of missing out the great opportunities but we usually ignore it when it there. Good thing this app finds some way to remind me it pays to be patient.

Wow! What a post man. I'd say do a mixture of the number system and descriptive words. I think having both would allow users to discuss their scores while also having an idea of what the algorithm thinks their portfolio looks like, where it can improve ect.
I'd be interested to try the app, it looks pretty interesting and easier to understand than a lot of other charts and graphs I've seen.
Keep up the good work friend!

Very interesting, owning one millionth of each top coin, definitely a good perspective !

I vote to go for the 100 to -100 score system. It will give us a more accurate score, we will be able to see whether we are up or down in our diversification. Good rule; invest your fiat weekly what ever you can.

True that. I'm daytrading and all i do is losing assets. It would be best for me to just put things as they are.

I really love your concept and would like to try it out, but I only have an iphone. Do you plan to make an ios app too?

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Long story short, the developer I hired for an IOs version never got the concept and dropped the project. I'm looking for a new IOs developer that understands Crytpto. It's been complicated so far. regards

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Is it possible to run the app on an android emulator? If yes, do you have any recommendation?

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Yes, you can run it on Bluestacks or any other Android emulator. I usually test it there. regards

Crypto isn't going anywhere. Buying now is buying at the bank of a mountain. The previous highs could end up being nothing more than the previous highs before that.

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This comment made my day! It's what I was hearing all the time back in 2013 right after the market crashed to $250. Everyone was saying Bitcoin was dead and noobs were selling the bottom like crazy. I just wished more people were making these kinds of comments. They are a great bottom indicator! regards

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Bitcoin crashed to 250, in hindsight what a gift that was, lol. I always like to compare the bitcoin chart to visa, just more dramatic. Visa chart, what a thing of beauty, and what do you know, they can both process payments, I'm starting to see the correlation here :):)

Hola amigo. Me gustaría de 1 a 1000 ya que hay un margen mayor que de 1 a 100 y tal vez pueda significar una diferencia. Y aprovecho a felicitarte por el excelente trabajo!. Un abrazo.

This is a really amazing app, can't wait to try it myself. So other than java for the app, what tech stack are you using in the back-end? Can't help asking that being a developer :)

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Hi @dkabii,
It's been developed with Kotlin https://kotlinlang.org/. Do you develop for IOs? regards

Any hope for an iPhone app?

"So, how do I know which coins will succeed?

The simple answer is you DON’T"

:) Haha, you said very true.

But i dont think invest to just top ten coins. Because last year top ten coins :
2017 top ten.png

Aaa, is that steem coin? But Steem is the 28th coin on the market cap. I wish steem is in the top three coins. :)

Fighting zombies! We'll be fighting each other for the last bitcoin more like it ;)

I want to be a crypto millionaire but all I have are shitcoins

True that. I'm daytrading and all i do is losing assets. It would be best for me to just put things as they are.
thanks for sharing

Many people say crypto currency is the next Internet! Have to buy low to sell higher!

I will go for 0-100

Thanks for your informative post and updates .
but in future Facebook will end up like trash and cryptocurrency will rock at Edge . Guys be cool and wait for the bang . :)

Thanks for sharing this post.
I like your every cryptocurrency news.
I love Bitcoin.
Upvote resteemit

Great information Thanks for sharing You give a detail explaination about the crypto keep sharing
Even though market cap gives you a pretty good idea of the top 4-5 coins, as you go down the list you will see, every once in a while, some temporarily overhyped coins that come up but can’t sustain their ranking and eventually crash. Only invest in coins that manage to maintain their top rankings for at least 3 months or more. Don’t fall victim to the Fear of Missing Out (FOMO) so typical in this world. great lines for investors Can you mention some of coins that maintain for 3 months because i have no idea about this

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Your Appis really nice, but Crypto Millionaire isn't the App I would download. For me it's not nessessary.

@cryptoeagle

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Nice stuff. I'm working on getting some Bitcoins.

I am currently with ripple, but is going down, what is your advice?

Very excellent post for steemit@cryptoeagle

Great post.
Thanks for sharing cryptocurrency update providing news.
I appreciate your blog.. resteemit