12th-13th January

in #cryptocurrency7 years ago

Portfolio: £251,416.75

Somewhat hellish last couple of days trying to get my mining rig set up in my garage and my INN and SMART masternodes setup, although on the plus side there was the small matter of officially crossing the quarter million! It's amazing how one's perception shifts - not long ago I was marvelling at the fact I was at £10,000 and six figures seemed like a distant dream, and now I'm here I won't be satisfied until I'm near £750,000. I need to start looking for opportunities to cash out into FIAT, but the problem is every single one of my coins has a long way to go so it feels silly. But there's no harm in taking a bit of each to pay off a few debts, if an easy way can present itself

Getting the rig together was straightforward, just building a computer really, and its location in the garage is perfect because of the cool temperatures. I was flitting from unknown coin to unknown coin with the aim of getting a stick before they get big, but even though I’ve got £1,400 worth of graphics cards in there it still doesn’t generate that much hashpower and means that I’m just as well off mining something like LUX which is already pretty valuable and should go up in time. I’ve hooked it up to a powerline and have remotely connected to it through my study PC. If I can find a way to monitor it and have it tell me when it’s malfunctioning that would be the icing on the cake.

The masternodes on the other hand were a right ballache. So much involved from SSH to python to scripts…didn’t know what the hell I was doing and explains why I’ve lost the last two days! Eventually got them up and running – they’d better make me some fucking money. For this and other reasons I’m only going to stick to these two for now, especially with VET coming up soon too.

In terms of portfolio it’s been a weird one – all my big bags have been dipping but I’ve been propped up mainly by my masternode coins which have rocketed. This means they will soon dip just like the rest of the market is, but NEO and ETH are holding steady. BTC still isn’t up to much. I’m still hovering around the £250k mark so that’s nice.
I’ve realised though that I’m putting too much faith in this whole ecosystem. I won’t pretend that I wasn’t a little bit pleased I didn’t bother with the IT course this week and instead spent two days on crypto, but it’s a dangerous game and I can’t start to see it as a definite thing. One bit of bad timing and the whole lot could crash, and I don’t want to be stuck in the same job for much longer. Although of course if it did crash my job would be the best opportunity I had to reap any potential rewards…

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Which Crypto do you hold in your portfolio? Can you share pls?
IMHO, The Best way and the most reliable one - find the gems (fundamentally strong projects which have strong team, a product in the mind to solve an important issue with high utility value). Ideally, it should have a reasonably deep moat vs. competitors. This is the recipie for success! Earlier or later the market will recongize the value of the project and will award you with immence profits. Real life example, RLC token (iExec) >+100% today! This pick was included in our portfolio yesterday and published here https://steemit.com/crypto/@p2port.com/crypto-portfolio-high-quality-crypto-assets-for-long-term-growth-created-on-11-january-2018

Hey. Just posted a response to this. Cheers.

Nice nickname btw :)

@glen-hodl, £250k is... well... substantial. Would you care sharing your strategy in terms of how you got to £250k, any hiccups, lessons learnt for people with smaller portfolios?

EDIT: What are you doing to make sure you pay tax as required? I am slightly confused if I need to worry about it if I am not cashing in any of my cryptos into FIAT (I am trading crypto-crypto).

Just responded to this with a post. Cheers.

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