Week 2 Results Of My $44/Day Investment
Today I'm proud to announce the second weekly report to you and the results thus far.
Rules
- $44/day *GDAX limit orders to avoid fees
- Purchases are made around the same time 9am EST
- Even amounts split between BTC, BCH, ETH, LTC
- If traveling I'll pre purchase those days ahead of time
- Weekly posts with cumulative returns
Shout-out to the Crypto Coin Trader Facebook Page
Fun experiment. And even better shared. Thanks for sharing.
Thank you @samh
Enjoy the vote and reward!
Nice one! Profit is profit :)
Just sent the join request:
Thanks @zacharylutes for sharing the report. Learnt a few things.
Steem On!
Nice update, Zachary. Are you intending to stick to the top few currencies, or will you be investing in other newer projects along the way? It seems to me that there's huge returns to be made if you do the necessary research as $44 per day is a significant investment.
@philnewton since GDAX only offers those current four options at this time my intentions are to only to stick with those. I want this experiment to be as appealing to new people as possible and everyone knows its a pain bouncing back and forth between exchanges.
Ah, yes. That makes sense! Following with great interest.
Nice. I am very interested in seeing how this turns out. I'll be following thank you
Thanks for joining along!
When it does get running, watch out. Resteemed
Thanks @hilarski I can't wait for that to happen, it's fun accumulating coins on the daily!
Interesting 'experiment'.
I'm curious to know how you made your selection of cryptocurrencies though. You invest $44/day which is not a minor investment.
Your systematic investment (daily, same amount, same time) is similar to what is suggested in e.g. 'The little book of common sense investing'. Where you would invest monthly (periodically) in a low cost index fund.
An index fund tracks a lot of stocks though.
Here your selection is 'only' four currencies. Which did indeed get some traction indeed. But which might also be surpassed by other, better, implementations of currencies.
I would assume that your $44/day would leave room for at least let's say 10 currencies. Preferably currencies with some unique proposition (maybe steem is a good candidate ;) ). I am not an expert, can't give any advice. I've only been listening at some videos and read some articles.
I heard about e.g. iota, neo, monero, ...
So I am really curious about how you chose those four.
Next to that: do you plan on rebalancing your portfolio?
Hi @ddhaeyere the original amount of $44 stems from my original sale price of .1 BTC when BTC was $440. This is my daily reminder for a whole year that I made a mistake selling off/walking away from Crypto back in 2016. If and only if coinbase opts to add another coin at that time I'll rebalance the $44 to accommodate the amount of coins on coinbase. Wether or not I'll rebalance the portfolio is up in the air but I have a feeling all original purchases will remain and I'll continue as is with the new coins. I'm not familiar with "The little book of common sense investing" I'll be sure to look into that!
This is the book (small book, quick read):
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
I just bought the book, it will surely keep me busy during this snow day!
And i think it make sense to keep what you have. Especially seen the potential there still is.. you don't want to sell your strongest currencies I assume...
Since you see it as a marathon you probably won't have any concerns about rebalancing in a year or two ;).
I think you will do very well in the coming weeks. BTC is still a rather safe bet I feel and is still the staple currency that the world uses and interacts with. It has lost market share however most of that has been to crappy Ripple which is totally centralized I have a feeling as it becomes more public knowlege Ripple will crash. We are trying to get rid of banks here not create one super bank!
@bitcoinflood if Coinbase decides to add Ripple I will literally lose my mind, if I'm not mistaken the requirements for Coinbase to add a new coin requires them to not be centralized. Once everyone comes back to reality and everyone runs screaming they got scammed from ripple all will be well in the world :D
Amazing results are the result of diligence, research, giving and work
I loved this so much thank you for your brilliant
I wished I could be like you