A consensus based shadow portfolio of cryptocurrencies
I now made a few stories and appreciate the platform and the inspiration it gives.
I have an idea for something new. I call it a consensus based shadow portfolio. A shadow portfolio is a fake portfolio, with no real investments with no real money. The portfolio would fictionally invest in cryptocurrencies on the basis of a consensus of steemit users.
If there are more then 10 people willing to regularly give their recommendations for the best performing cryptos of the next week, I will compose the shadow portfolio on cryptocompare and make it publicly available.
Once per week, I will post the performance of the portfolio. After posting, every steemit user can make a top 3 of suggestions for the portfolio. I will reallocate the portfolio on the basis of your suggestions.
As selection is based on consensus, I need to introduce some rules.
Rule # 1 Each user's 3 suggestions will be weighted with a relevance. The relevance of number 1 will be weighted 50%, number 2 30%, number 3 with 20%. The 5 currencies with the highest relevance will be put in the portfolio with approximately 20% weight.
Rule # 2 don't get personal, it's a game, and nobody gets hurt if any of the advise was incorrect
Rule # 3 only pick cryptocurrencies that are available on cryptocompare, no ICO's until they are traded
Rule # 4 give your suggestions for a full week, because I will reallocate only once per week
Rule # 5 reasons for suggesting are highly appreciated, but not necessary
Rule # 6 if there are less then 10 user suggestions, the allocation remains unchanged until the next week
Rule # 7 I may change the rules at any time as I find appropriate
Rule # 8 a user can vote to liquidate all positions, no cherry picking. All in or nothing in. If more than 50 of users votes for liquidation, the portfolio will be converted for (fictional) cash until the next week.
Rule # 9 every user's opinion counts, opinions of newbies or professional with TA are equally appreciated
There's nothing to earn and it's not Investment advise, it's just for fun
Does that sound like a plan? Anyone up for this? Any suggestions?
Here is how it would look
https://www.cryptocompare.com/portfolio-public/?id=50970
If users are up for it, I'll create the portfolio next week.