Hey, everyone. So far it has been 8 months since I have last blogged on Steemit. Posting on Steemit was pleasurable since I got responses almost immediately. It is nice to know that people are out there and read my posts. This is unlike my other blogs where it takes months before someone actually makes a comment on a post that I make.
I regret not blogging on Steemit for three reasons:
- Jerry Banfield’s videos and other educational materials about Steemit have convinced me that I am missing a lot by not posting here.
- I have gained almost 60 followers during this time doing NOTHING!
- SteemMonsters is coming out and I am EXCITED!
I figure that I can post every other day and increase my number of followers 10-fold just because people will love my posts. The doing NOTHING aspect for several months and getting followers is so appealing that I am coming back everyone. Yeeeeehaw!
So in my last post I promised that I would do a cryptocurrency weekly. I am sorry to say that I could not do this CryptoWeekly every week because it would be BORING. Seriously, I would have to really find material to make this “online newspaper” worthy of reading let alone watching on DTube.
So what am I going to do now? Instead of boring you with week after week assessments of cryptocurrency trading that really do not change I will excite you with what I like to do on a daily basis. Did someone say CryptoCurrency Trading?
As you probably already know, I am an expert in Calculus and an advanced mathematician. I also went to school to learn about data analysis and I employ data analysis techniques just in about every data set that I come across. (side note: I came across a shopping receipt from a family member and I refused to analyze it)
Data analysis is a great tool to have in your arsenal because the understanding of math and manipulation of data in a mathematical way goes far. For example, in my first posts I was able to come up with a safe cryptocurrency analysis that someone could rely on. The analysis itself was useful because it confirmed that Bitcoin is the best crypto to have.
But besides this, what about trading? I am not a day trader, but I am a swing trader. A swing trader is a person who knows where a stock is going to go on a weekly to monthly basis. For example, most recently I predicted the upsurge in the SPY etf and have made a handsome gain so far (but not as handsome as me).
As you probably know, swing traders anticipate stock or currency movement before they happen. They capitalize on this movement by buying or selling short before the stock or currency makes its move.
So how does this affect me? I am treating this steemit blog as a daily or weekly blog/vlog about myself and my life. Along the way I will reveal to you my trading strategy and how I view the markets as a whole. I will also give you my economic perspective. Think about it like the book “Zen and the art of motorcycle maintenance.”
Zen and The Art of Motorcycle Maintenance
I bought “Zen and The Art of Motorcycle Maintenance” back in 1999 when I was a lonely young man searching for answers to life. I was very lost and wanted a way to understand the world. One of the books that I found interesting was the one above. I did not follow the teachings of this book seriously. I just was captivated by it to the point where I read all 300 something pages of it.
This book is important because people, in general, do not understand why blogs or vlogs are important. In every blog or vlog out there, there is a lesson to be learned. In my blog or vlog, you will not only learn life lessons, but you will learn about my trading experience.
My blog or vlog is similar to the book. The book does not truly go into the religion of Zen but has a religious kind of experience to it. This book is about a man who loves to ride his motorcycle and experience adventures with his reader. The man will stop at places, look at his motorcycle, and use his resources to fix his motorcycle. While doing tasks, like fixing his bike, he will give you his understanding of life and philosophy.
Nobody would read this book if this book was straight up philosophy. That is why this book is so interesting and entertaining. It is kind of like Ayn Rand’s book on John Galt but has a cooler reading to it.
I am not trying to sell my blog or vlog to you but see my work as an adventure through life with a meaning to it. Something educational in value along with some fun adventure.
Life is not just Trading
My life is not just about trading. That would be boring. Instead I do have fun doing other things like going out, hanging out, and learning how to become wealthy. I am the type of person who wants to learn more strategies on how to make money.
Out of all of the things to write about, like health and relationships, I prefer to write about wealth strategies. I prefer to find out ways to become wealthier than to be a person consumed with the latest diet craze. I do on occasion pick up weight loss plans and challenge myself to complete them.
The latest weight loss plan that I signed up for was the sixpackabs weight loss plan. I bought the supplements along with the weight loss training exercises. Let’s talk about the six pack abs challenge that I put myself on for a little bit. It has been officially 30 days since I started and I can feel the emergency of a six pack abs.
When I started I looked much fatter around the face, chest, belly, and legs. Right now I feel much more tighter and healthier. Having a great weight loss and fitness program can do wonders for your psychology, mental state, attitude, and personality. I am so glad that I started this program because it has made a HUGE difference. (You can see my before pictures on social media @jb25367ii)
I am happy to announce that I look and feel much healthier.
What About STEEM?
Now that you know that I am a cryptocurrency trader you are probably dying to know what I think about the cryptocurrency STEEM.
The cryptocurrency is about has a bitcoin correlation coefficient of .935. This means that the price of Steem is correlated with the bitcoin cryptocurrency. To predict whether the Steem price will increase we should look to see if the overall cryptocurrency market is healthy.
Being that the Bitcoin cryptocurrency makes up about 33% of the total market cap of the cryptocurrency market we can safely say that the overall market is a bear. This means that we can expect prices including Steem to go nowhere until there are positive mathematical, technical, and market related signs.
To put it in a simple way, if Bitcoin is not doing well chances are Steem will not do well either. The price action of both cryptocurrencies is highly correlated to one another. Betting that Steem will go up in price while ignoring the price action of Bitcoin is not a good thing to do.
What can Steem do to set itself apart from Bitcoin?
This is a great question that I believe can be answered briefly in a few paragraphs. First, the Steem system (i.e. Steemit, DTube, and SteemMonsters) needs to provide the same if not more value to those with steem and steem dollars. Right now people are keeping their cryptocurrency in the steem blockchain because they believe they are receiving value from doing things such as delegation, voting bots, and steem power. This needs to continue so that creators will continue to support the currency.
I believe that SteemMonsters will be a hit. I used to play online poker for a living and I am excited to be a player of SteemMonsters in the future. But right now, there is not a lot of information on how the SteemMonsters game is played. Do you earn money by playing tournaments? Do you earn steem power if you win versus losing? Right now, people are assuming that the game will be like Hearthstone which I am not sure that it will be the same.
The developers involved in the Steem blockchain need to provide more avenues for Steem growth. This means that they should creatively find a way to get more users of the blockchain by introducing more unique “things” like SteemMonsters. This will set Steem apart from Bitcoin as a cryptocurrency.
As for actual data, since April 2016, Bitcoin, Ethereum, Ripple, Stellar, and Litecoin have performed well. But if we included Steem in this list, Steem would be in fourth place for rate of return. See the results below:
So, in the debate of whether Steem should set itself apart from Bitcoin, Steem definitely could win in the percentage return category.
Will Steem surpass Bitcoin one day? This is hard to tell. Since Bitcoin, there have been other blockchains that have claimed to be superior in quality to Bitcoin. For example, some cryptocurrencies claim that they have untraceable transactions which is hard to believe.
Steem has a lot of desirable qualities that Bitcoin does not have but that DOES NOT guarantee that Steem will surpass Bitcoin. Bitcoin in my opinion is a solid cryptocurrency that has a lot of popularity. You would need to convince a lot of merchants and people that they should use Steem instead of Bitcoin. This, most likely, WILL NOT happen soon. But, maybe in the distant future. Steem, please catch up and make us all RICH!
Look out LOL, SteemMonsters are Coming!
Today is the most interesting day. There is a world of opportunity out there and more to come. The recent announcement of SteemMonsters makes me believe that Steem will become a popular place for people to “hang out.” It will be a place where people will receive quality educational and entertainment content along with having fun.
I just cannot wait to see the finished product. The tournaments should be filled to capacity! What do you think? Please post below. I will answer any comments that you may have. Looking forward to kicking all of your asses at SteemMonsters in the coming year.
I do not know if I will post content on DTube as it is time consuming to put together quality videos. I do have a vlog on Youtube but the vlog has not gone anywhere for the last four months. I like doing vlogs regardless of the result.
To move that vlog here would be difficult. I do not want to clutter my mind with too many things to do since I have a lot I want to accomplish on a daily basis. If I do a DTube show it would probably be live gaming playing SteemMonsters.
That is a great idea actually. Please comment below if you would like to see me play SteemMonsters on DTube Live. I know that my insight into the game itself will be useful for those who love card games.
Most of all I appreciate Steemit because it is a free blog. You can literally express and communicate your worthwhile ideas on a platform while making money at the same time. You do not have to find ways to monetize your content since Steemit does that for you. I am happy that I signed up for Steemit and plan to use this free blogging website in the future.
Hey, check me out on social media @jb25367ii