Whateva Dood # 6
It's about that time for another Whateva Dood! I've been doing these about once a month, and for the new followers this is just a post I do that goes all over the place. I ramble on about everything going on in my life, and a little about what I'm doing in the cryptosphere... Sometimes it comes off a little incoherent with run on sentences, bad grammar, and the occasional typo. Not much different from the rest of my posts I guess. LOL
So without further adieu, lets get stared :)
Hard Fork 19
I've been getting into steemit a lot more now since Hard Fork 19. I've actually been blogging more here than on my blog at bitcoindood.com. The new voting reward have been nice, but like many I've suffered the voting hangover, draining my voting power down to under 50%! LOL. I don't think I've ever done that before. So I spent the last couple day, being rather quiet and trying to get my steem power rejuvenated. Checked today over at steemd.com and was happy to discover that I'm now back to around 80% voting power. https://steemd.com/@the-bitcoin-dood
Every Vote Counts
It's nice with everyone getting a boost in voting! Now as people vote, even a minnow like me can make a small difference with each vote. Like everyone else I went crazy upvoting everything at first. So many great people and so many great posts. I actually had to stay away for a couple days. I literally stopped by once a day and checked my replies then quickly left before I could do to much damage to my voting power. I think voting reset becasue I thought before if you voted everyday, you got increased voting strength or could vote more before it affected your voting power. IDK, I'm terrible with technical side of steemit! Just happy to find cool, like minded people over here to interact with. But, I know my voting power didn't drain as fast as it does now, before hard fork 19. I did a lot of votes each day and was always able to stay above 90%. I'm going to do some experiments with it over the next few days, I'll make sure to post my results!
Steem Trading
Sooooo, things have been pretty crazy trading wise! The last 6 weeks or so have been insane! Steem and SteemDollars on the rise and strong! WoW.... I have to admit, I was a bit of skeptic but it looks like the Steem economy is beginning to grow. Both STEEM and SteemDollars are showing some serious marketcaps now and keeps growing. The future of Steemit is looking strong!
http://coinmarketcap.com/currencies/steem-dollars/
http://coinmarketcap.com/currencies/steem/
I have to admit, I'm really kicking myself in the ass. I was accumulating a lot of STEEM, then after Dan announced he was leaving Steemit, I got a little freaked out and sold :( I never powered down though, and keeping with my vow to myself, I probably never will. Who knows maybe someday if I ever get to "Whale" status I might but for now ... ain't gonna happen! Also since I'm rebuilding my Steem position I have instilled my 25% rule on STEEM and SteemDollars. From now on whenever I cash out any STEEM or SDB 25% goes to my STEEM savings and will never be touched unless some emergency arises or I accumulate a bunch and decide to buy something really nice for myself. I've talked about my 25% rule in other posts, but I'll post more on it sometime over the week. Basically, I'm hodling and accumulating 25% of all my steemit cash outs and I'm starting to do this with all my altcoin holdings.
Altcoin Trading and Bitcoin
Not only did steem kickass the last 6 weeks or so, but so did every other altcoin out there! Has anything not pumped over the last 6 weeks! Happy Days for hodlers! This last bull run is the reason you hear many traders say they never sell at a loss. Sometimes you just have to hold them and sometimes you have to hold them for a really long time. I finally dumped a couple coins I had tied up for close to a year or longer. Felt great to free up that BTC and finally take some profits! Even then, kept about 25% of every position I exited!
As far as projects I'm liking right now. I'm really digging this trend with the social media markets. Coins like COVAL, AMP, Reddcoin, Steem and SteemDollars all look like really interesting projects focused on social networking and micro tipping. Digging PIVX you can find out more about them right here on Steemit. https://steemit.com/@pivx I also started playing around with a newer low cap coin called NOBT which is another privacy centric cryptocurrency. NOBT is my high risk buy for last month. Currently priced around 4 sat. Looks like an interesting project and the dev seems to be working hard. https://bitcointalk.org/index.php?topic=1789342.0 Some other coins I'm liking that look real strong, Stellar Lumens, Ripple XRP, OKcash, ARK. Also like Siacoin, Syscoin, Stratis and Waves but think the markets are a bit over bought and I'm hodling and waiting for a price correction on those. With that said, I haven't been buying a lot of anything right now. Just waiting. As they say what come up usually comes down, and if history repeats itself we'll probably be seeing a market wide correction in August. Hopefully there'll be some good buys to be scooped up then. The Dood loves buying cheap altcoins!
Bitcoin hits $3000! How cool was that? I sold a bunch around $2900 and kept my trading satoshi and bought back a little around $2500. I'm currently being real cautious with bitcoin and just about every other altcoin till BIP148 has been rectified, and active or some other solution is in place. Till then I'm a bit cautious. I'm also sticking to my previous prediction that we could fall back down to around $1700 as worst case scenario. I've bumped it up about $200 from $1500 a few weeks back. I'm using Bollinger Bands on a 1 week BitFinex chart for this outlook. Hopefully we don't end up there.
Remember, nothing here or in any of my posts is meant as financial advice. This is just The Dood talking about his strategies and what he's doing with some friends. Always do your own due dilligence and never take financial advice from a guy on the internet who refers to himself as The Dood LOL.
If you look over the bands you can see that bitcoin was over bought for several weeks. Granted this is a one week chart, and if you break it down to a 3 day or 1 day, the pattern begins to correct itself. However, it's better to be safe than sorry.
Getting Personal
On a personal note The Dood is doing great! Summer has finally arrived and with it the warmer weather. I've been shopping for a motorcycle. Not really in a rush on that, if I find one I really like I'm gonna buy it, but it's going to have to really call out to me. I'm looking at cruisers like the Yamaha Bolt, and the Kawasaki Vulcan. I've been riding mini bikes, dirt bikes and street bikes since I was 11 years old and never had the proper license. I told myself that no matter what, I wont be buying a bike till I get my license this time. In New York state it's just "driving out of class." and you pay a small fine and they impound your bike if you get caught. In 30 years I got caught 3 times, but I'm just getting to old for that shit. The old anarchist in me is mellowing and I promised myself I wouldn't buy another motorcycle till I got the proper license. Soooo.. I'm shopping and going through the process of getting my motorcycle license.
Since the warmer weather has arrived, I've been slacking on the bitcoindood.com updates. I need to update the directory listings, and change a few things around soon. I'm going to try and get to it this weekend sometime. DoodBot on twitter will be down till probably around Monday. I burnt out my HDMI hub and have had my twitter bot offline for about a week. If you're following DoodBot, that's why I haven't been posting the news there. I'm still posting to my BitcoinDood account though daily. https://twitter.com/BitcoinDood Here's an image of the new hub I just ordered from Ebay.
DoodBot runs off a Raspberry Pi and I share the TV monitor with my Pi, Satellite dish, and the Google Chromecast. For the last week, I've been just watching TV off my Chromecast. Can't wait for the new hub to arrive.
That's all folks ...
Well that's all folks. Next week is 4th of July or American Independence Day.. Looking forward to a week off from work. That'll give me plenty of time to get caught up with all kinds of stuff. Hopefully I wont need a vacation from the vacation. I'll be posting regularly to twitter and on steemit of course. Looking forward to a little R&R. So if your in the U.S. have a happy and safe independence day, and for everyone else.... if you've read this far thanks for reading and happy trading everyone !
Agree with you on the HF. My votes are actually worth something and it feels good to hand them out, especially to new people who can really use it as motivation.
How long have you been on Steemit? I'm having a hard time getting to 49rep. Been depositing a little bit of steem from my trading accounts hoping to level me up, but it's slow going.
As for the alts, bought a bunch more of Strat & SC the other day when it was a fire sale. Worried about STR though. They just gave away a boat load of coins. While I think it's a cool idea, it seems to have diluted the price in additional to the bloodbath.
What exchanges are you using other than Trex & Polo? I'm concerned about putting $$ into even smaller, less reputable exchanges than the big 3 or 4.
Cheers Dood.
Thanks for the awesome comment! I've been on Steemit for almost a year now. It will be one year in August. It's actually a little over a year, I lost the password to my first account in a hard drive crash :( But August will mark my 1 year Steemit anniversary.
I hear ya on the STR. I was a little worried too. Unfortunately the promotion wasn't available to NY residents :( Damn BitLicense. Didn't get my free STR! I like the project long term though. I think the giveaway will affect the price short term, but in the long run I think Stellar is a good strong project with plenty of room to grow. If anything the promotion should introduce a lot of new people to the coin.
As far as exchanges I feel the same way. I get a little stressed thinking about it. For me, I keep a fraction of trading satoshi on the smaller exchanges. I also try to divide my trading portfolio up between multiple exchanges. For example spreading my OKcash over 4 exchanges. So if one exchange gets hacked, or suddenly closes up shop, I only lose a portion of my portfolio. Nock on wood that hasn't happened to me YET, and I got out of Cryptsy a week before thier demise. I pull all crypto out at the first sign of trouble. Its a pain in the ass sometimes, but it's already saved my ass once.
Having your portfolio spread out over multiple exchanges is also a great way to take advantage of arbitrage deals by selling on the high exchange and buying back your positon on the low exchange then transferring the difference to the exchange you sold on. Besides trex and polo, I like Cryptopia, CoinExchange.io, NovaExchange and Livecoin. I've had several bad experiences with Yobit not updating wallets and having coins stuck on their exchange. I never leave coin on Yobit. I also try to keep as much coin as possible on personal wallets and cold storage paper wallets.
Ya, I'm with you on STR, long term, just seems that giveaway hurt the short term. Was this planned?? They had to have known it would happen. Perhaps a gimmick to get more attention? Any publicity is good publicity.
What about bitshares exchange? I need to look into it, but the idea seems good. As far as the other exchanges, I have 2 acts each on Polo & Trex. 1 bot for each and one manual for each. And ya, seeing a coin's price on Polo & on Trex can help you out with the spread and/or the direction the coin will go.
Cheers.
Outside of trying to introduce more people to STR, I have no idea what their motivation or intent was. I suspect they're just community building. I've never used BitShares exchange, but need to look into it also. I need to learn more about trading bots. It seems to be the future and I've read a lot of positive stuff about it. I may have to dip my toes in the water of bot trading and try it out.
Gunbot. If you do decide on to get it let me know for a referral link and I can help you out with it.
Awesome, I will! Thanks :)
Nice post BitcoinDood :)
Thanks! Glad you enjoyed it :)
hey dood .. I too drained down my voting ...waugh!! This is a great post packed with info.. thanks for writing it.
Thanks for reading it! I think everyone got a slight voting hang over after Hard Fork 19 :)
true haha
Future rider here too brotha! sweet post dood! Enjoy yo time off
Right on! What are you thinking about getting? I've been looking at cruisers mainly. Not sure if I'm going to buy new or used. If I buy used I'm thinking something chopped or a bobber :)
Ha nah man i've tried different types of bikes during my class and I have to say KLR 650 types is probably the direction I'm gonna go. Outdoor off road adventure touring brotha!
This guy's video he did riding his KLR from Canada to Panama ignited my interest:
That's awesome! Outdoor off road is a lot of fun. Great for camping too. Get to all those places you can't get to on a regular bike. Make sure to post some pix on steemit when it happens :)
Will do dood;) Hoping it'll be a steem powered bike
If I buy something used, I'd love to find something like this.
Braaaa, shit looks sick. Pull up to a titty bar in this, n ladies be running after you dood!
LOL, that would be an added bonus :)
I'm a serial hodler of alts, it's like shooting fish in a barrel, my longest hodl is my first ever investment into #gridcoin, which incidentally I stake/mine on my raspberry pi.
Good read. Followed and upvoted (I don't bother conserving my upvoted power, it's worth so much more at 20% than pre HF19)
Thanks for the update, great breakdown. I gotta start looking for some alt coins deals 😀