My Crypto Chess board:

in #bitcoin7 years ago (edited)

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Let's face it. There's a war going on between fiat/metals and crypto. We all must still deal with fiat, and metal is influenced by fiat to some degree, and is not convenient as a currency.

I like to think of it as a big chess game, with fiat and metals on one side, and crypto on the other. Some will perhaps disagree (and I WANT differing opinions on this!) but the way I set up my "chess board" is listed below:

(Note: I must stress that I have nothing against precious metals. I own some, but because they are so influenced by fiat, and because they are inconvenient for trading in spite of being a good store of value, I place them on that "other" side of the board.)

1. The King: Bitcoin-- No surprise here. Like the king on a chessboard, BTC is slow to adapt, limited to "one square" because of differing of opinions and resistance to change within the community. It is, however, THE KING. If the king falls, the game is over. By that I mean if Bitcoin fails, the "fiat community" loses faith in adopting the new tech, and other crypto's fall or rise with it. (Translation: buy, hold, maybe even mine if you're wiling to risk it)

2. The Queen: Dash--I know, I know! I was supposed to put Etherium in this spot, but let me explain. Dash has lightning fast consensus. It is a well-oiled machine. Dash wants to give the privacy-lovers their due, but more importantly, they want to put "digital cash" in the palms of what are now fiat users, people who look at you confused when you use words like "private key" and "QR code" will be their customer base.

Dash is the lady who will rush across the board to solve a problem no one else seems interested in solving. This is powerful. She seeks to be the "Apple/IPod" to Bitcoin's "Microsoft", and assuming their "evolution" project and smart marketing strategies pay off, I think we just might see her coronation around 2018. (Translation: buy, hold, maybe mine)

3. The Rook: Etherium-- Etherium is an exceedingly powerful instrument for digital contracts. It is moving strong in value. Yet it violates one of the fundamentals of economics, the law of supply and demand and in that sense has a weakness similar to fiat. They can do a lot, but they don't watch their corners well. Still, good to have a rook on your side to protect the king, help the queen, and go in for the kill when the market is hot. (Translation: buy, hold, but don't go overboard and make it the bulk of the portafolio)

4. The Knights, and the Bishops-- I would knight Steemit, and/or dress it in robes if so preferred. Monero would also get knighted for its valiance in protecting privacy. Ripple is showing promise too, but Ripple and his ilk have sided with fiat in some ways, and there are those who want that system to crash altogether. I hope for peace of course.

Steemit is unique. I think I would make it a priest, as it seems concerned about quality content, helping others, and noble ideas such as that. Monero is more of a street-smart fighter, very stealthy. (Translation: Steemit, as an aspiring content creator, earn and hold. Monero can be CPU mined, so what's not to lose?)

5. The Pawns-- Now don't be offended if I put your favorite in this category! A pawn is a noble subject indeed! A pawn played right is a Queen in time. I would view many of the penny and sub-penny coins in this area. Bytecoin and Siacoin are two that seem to be taking the right positions, and advancing towards the enemies' furthest flanks quite well, but of course there are others.

The power of pawns is in their numbers, their "esprit de corp" and their willingness to be sacrificed (Translation: LOTS of them can be purchased inexpensively, and if they pop, use them the strengthen the King--buy BTC--or make them Queens--buy Dash. Be willing to sacrifice/sell them when they pop, but don't sell all, who knows?)

There are three key maneuvers also quite useful in this game:

I. CASTLE MOVE: This is where you CASTLE your most precious assets. How? Use a TREZOR or some similar device! So that you are, as they say, the "King of your own castle" (Translation: Trezor the bulk of your BTC, Dash & Etherium)

II. EN Passant: This is where a pawn makes a bold, diagonal move "in passing" it's opponent. (Translation: be daring with inexpensive coins, trade them more frequently, buy in volume when low. Bytecoin can be CPU mined, so again, what's not to lose? Small cap altcoins are the place to take reasonable risks, and get creative.)

III CHECK your opponent While this should be a "no brainer" I mention it because it deserves explanation (& I hope I'm not stretching the chess analogy too far). This means to see the weaknesses of the opponent (mainly fiat) and go in for the kill. Anytime there's a Cyprus, a Greece, a global bailout, etc. be quick to catch the wave. Anytime you hear of real innovation in a given coin, ditto.

Look, I'm no Bobby Fisher, and my advice here is purely for your amusement. Seek the advice of professionals before betting the farm; but I'd love to hear YOUR OPINIONS on this...who would be your "King" or "Queen" in this game? I'm curious. Perhaps Steem would be your King or Queen--tell me why. I've been buying BTC for years, but haven't taken the greater risks until recently.

Please comment, upvote, etc. and thanks in advance for everything!
(note: coming soon: I will attempt to explain my "Crypto Monopoly" strategy!)
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couldn't a token/ with all the characteristics of dash + whatever else that's good / be built on the ethereum network thus taking the place of dash and proving ethereum's right to be the queen.

I'm not afraid to say I could be wrong, but that's just my question for you and in a way to myself to learn

Yes, yes it could! It is possible, but I'm not sure the will is there to do it. Love your insight!

Well done, I have never thought of Crypto in a way like this. Very creative way of thinking out of the box.

is the steemit wallet safe to keep steem? I don't keep my eth in coinbase because its in someone elses hands and online, like steemit?

Steem has an internal marketplace, but I've never used it. Keep a nice, long passphrase/password, and keep that written down on paper, and lock that paper up somewhere very safe. That's my best advice. I was just watching a video by a "Steemian" @georgedonnelly that is very long and extremely useful.

It contains instructions on how to convert to BTC. Sorry I couldn't be more specific or direct in solving the problem!

Wow, I would have never thought of it like this. Awesome! Keep it up :-)

I go like the queen as etherum, it violets the rules.. Thats the queen..
And it moves in different direction..

Following

Yes, but violating the law of supply and demand is like violating the laws of physics: ya better have systems in place so you don't crash & burn. Thanks for commenting!

So does the queen, it doesnt have the rules....
The crash and burn thing, thats the market and the community play and adopt..

Just a thought.

What I mean is that supply and demand constrains all players. The queen has rules. Dash has respected the law of supply and demand, and limited its coins like BTC.

Like an airplane defying gravity, you have to have systems in place; wheels, brakes, parachutes, etc. I've heard lots of people praise Etherium and mostly it is deserved praise. May Etherium fly high indefinately!

I'm new to this stuff too, but I'd hate to see people put all their eggs in the Etherium basket, and then someone get greedy and flood the market with the stuff and devalue it. I try to be "street smart" about it, and guard my heart...

ETH has great potential!!! Some say they will eventually limit coin number, which I think would be wise. Dash is shooting for mass adoption, AND respects the law of supply and demand.

Andres Antinopolos compared BTC to a Lion, and ETH to a shark. They prosper in different environments. Perhaps, in the ETH environment unlimited coinage is some kind of strength, but it is hard for me to see how that could be a strength for any coin--good thought.

I love chess, I love crypto, so... love the post, thanks, followed.

As a chess player I quite enjoyed that ...thank you ...

I used to play a little. You're welcome

Good information. I have several crypto currencies and I really think it is the currency of tomorrow. And today, I am making money. Followed and upvoted.

That's a really cute analogy XD

Thanks! I try to explain things nice, and sweet and simple like Forrest Gump's mom, but sometimes it comes out sounding like, well, I won't say... ;)

Thanks for post, but fiat is a cancer that has been eating at precious metals for years. So, I would not put it on the same side with metals.

That's true. I only keep a little silver because of that "poisoning" effect of fiat. I think once fiat currency crashes en masse we'll have the market recognize silver and gold as money again, but they'll never be as convenient to use as crypto.

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