What Crypto Currency Are You Holding Long Term?
2016 is Coming to an End and Bitcoin is on a Tear.
I returned to the world of crypto currency a year and a half ago after losing my ass back in early 2014. At the time I invested my BTC into AuroraCoin which immediately dropped like a rock. My first altcoin trade and I lost 80% of my money. I took what remained and bought Dark Coin, now Dash, which also took a dive. My BTC was crushed to dust within two weeks thanks to being a newbie in the crypto trading space.
My Naivety Led Me Down That Path.
Whatever I do in life I do with confidence and sometimes I pay the price. If I would have taken baby steps, learned about altcoins and how to properly trade I would have never been in that position. I truly underestimated how quickly trades move in the altcoin world.
Now I see many of my fellow Steemians interested in Crypto Currency trading. I know many of you have thought about buying a few of the altcoins or even some Bitcoin. I beg you to take caution with the Altcoins. This market can eat you up and spit you out in minutes.
How My Trading Changed Over the Last Year.
- I no longer invest in ICO's (Initial Coin Offerings). I only made money on one ICO out of five that I participated in. That ICO was LISK which ended up making me a nice stack over time.
- I now focus on a few altcoins that I know instead of betting on tokens I don't understand.
- I don't buy the hype. Be careful where you get your news on Crypto Currencies.
- I keep 70% of our Crypto Currency investment in Bitcoin. I used to hold the other way around. If I would have kept 70% in Bitcoin since I returned to Crypto Currency investing I would have a much larger investment.
Crypto Currencies I Believe in Long Term.
- Bitcoin- The Grandfather of Crypto is not going anywhere, anytime soon.
- Dash- I like the team and the moves they are making. The Masternode concept is brilliant in my humble tech opinion.
- Steem- This is my favorite altcoin community. Since I write on Steemit.com I get to mine Steem by producing content. Freaking Genius!
- Ether- If they can get their crap together this token will do well. I don't currently hold any due to my wavering confidence.
What Are Your Favorite Crypto Currencies for 2017?
We all have our favorite. What is yours and why? The great thing about Steemit is that there are many great crypto minds on the platform and each of you has important input. Please tell us why you love a particular crypto in 2017.
BTC, BTC, BTC... It's all about getting it and HODLing... then getting more. However, I do have a positive opinion on DASH, STEEM, MAIDSAFE. I'm watching closely the developers who will find ways to use BTC in innovative ways as improvements to the protocol are rolled out. Micropayments will be huge as they become possible with BTC. Keep an eye on Kim Dotcom and Ryan X. Charles @ yours.org. In general, the alt-coins I like are the ones that can promote social interaction, serve a specialized niche or have features that BTC is currently weak in (such as privacy), however, BTC development is proceeding despite the noisy drama over the "block size". It's a healthy debate. MAIDSAFE is a totally different kind of crypto with a different mission - not even a blockchain - but a radical approach to decentralization that I love for the way it can "stick it to the man". ETH may work out, but it seems to complicated and clever for its own good. The most resilient systems are the ones that grow organically. They don't spring fully formed from the head of Zeus (or Vitalik).
I'm on the same boat as you. I'm holding mostly BTC until summer 2017. I will probably buy a ton of steem once price hits below 3 cents. I'm also interested in Dash (especially since I was part of core team) but that will have to wait until summer 2017. I believe a HUGE bear market is coming to ALL alts.
Is maidsafe the one that is like DNS network 2.0? If so, that one also interested me but not as much as the others mentioned.
Good input. TY for that.
I would love to learn more about Maidsafe. My trading buddies were big on it earlier in 2016.
A man by the name of John Ferguson has done a great podcast series explaining the basics. I think it's called SAFE Crossroads. I don't recommend trading MAIDSAFE or any crypto, including BTC, but I think it's a good one to watch for entry points as the fundamentals develop. I plan to run a SAFE Network Vault as soon as they are released into the wild. The are apparently running already in test mode in stable server farms. This may not turn out to be a customer-facing tech, but it could certainly disrupt all sorts of centralized storage.
I don't see a ton of your comments @thylbom -- but when I do, I read them. I learn from people like you, so TY for that.
Some BTC,
some STEEM,
fuck the rest,
they are a pipe dream.
:D Just a rhyme. Except I don't touch shitcoins, cause they are shit and you lose money playing their hype and FUD FOMO pump/dumps. Steem and BTC only for me.
Nice rhyme!
LOL. Quality input man lol
Privacy will be very valuable in a blockchain ruled world
BTC for its storage value, Ethereum for their amazing innovations in technology which i think and feel in the long term will greatly benefit holders of that token and then there is Digix / DigixDao which is a token backed by gold on the ethereum network. Those are my top three interests while I use my steem to trade for more of those currencies.
Hodl BTC and giggle at fiat ;)
I check out other alts but I'm no @craig-grant :/
lol. (Y)
Bitcoin is my favorite technology, money and code.
Hodling Steem. And getting more Steem. (also BTC :)
I just started buying steem. Got in at 10-15 cents a token last time, total luck. I am looking at peerplays, I only like coins that I have an interest in. So a rake free poker game sounds like a great investment. Heck investing in a casino that will take my money, is a awesome investment.
I'm loving OKcash long term. They don't have a huge market cap , but they have a really strong community and strong dev team . http://coinmarketcap.com/currencies/okcash/
I will check it out. I admit I never heard of it until now.
Upvoted and Tweeted. Stephen
https://twitter.com/StephenPKendal/status/808737704980738048
Thank you Stephen!!
You are very welcome. Stephen
Disclaimer: I am just a bot trying to be helpful.