The Big Crypto Drop Today

I haven't posted about crypto in a while, mostly because I haven't been terribly active in it for the last 9 months or so. Also, it seems like lots of people a lot smarter than me post on crypto constantly, so I'm not sure I have much to add to the conversation. However, I'm trying to make a point to post everyday, and crypto is what's on my mind tonight, so here we go.

For the last 9 months I've been selling sometimes when it made sense, and in some cases turning crypto profits into silver. But mostly holding on to what I own, building my USD reserves on exchanges, and waiting. Waiting for a better time to buy back in. Today seemed too good to pass up, so I spent some dollars. If things drop again, I'll spend some more. Here's what I'm buying and what my triggers are.

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Steem

Ok, this one's a gimme, of course I'm going to invest in Steem. You don't use a blockchain everyday if you don't believe in the future of it. There's definitely something here. We may disagree with some of the development priorities, and things could be handled better, but ultimately, Steem is one of the few cryptos to have an actual working product that's in use every day. Being first to the market doesn't necessarily mean you're going to be successful, but it definitely counts for something.

I wouldn't be shocked to see Steem at $0.50. If so, I'll buy a couple times on the way down. If it goes lower, I'll buy more. The Steem/SBD ratio is currently about 1.5 to 1. If it goes to 2 to 1, I'll convert half of my SBD to Steem. If 3 to 1, I'll convert the other half.

NEM/XEM

This seems like a bit of a sleeping giant. It's not exactly unknown, but it gets far less attention than others in the top 20. They've been forging partnerships in Asia, and it seems to me are well positioned once crypto adoption goes mainstream.

The current price of 9 cents seems like solid price, but if it goes lower, I'll buy more.

Doge

I definitely hear all the voices that say this is a made up coin that started as a joke and can't be taken seriously. However, their user community is really big and really devoted, and they have been for a long time. If you've got that going for you, that's a big part of the battle won.

I feel good about buying this at 3 tenths of a cent, but of course 2 tenths would be even better. If it goes lower, I'll buy more.

Digibyte

The technology on this one is the selling point for me. It's really fast, really secure, and really scalable. It's ideally suited for transaction level processing (much better than Bitcoin). They've got a bit of a slow burn thing going on. They've been developing and refining really solid technology, but not really advertising it to the general public. If they can raise their profile a bit, this could be really successful.

Honestly, anything less than $0.10 seems like a deal to me, given the potential. If it goes lower, I'll buy more.

TenX (PAY)

I think this is the riskiest one in my list. They got beat to the market of crypto funded debit cards by MCO, but are currently wading through the regulatory swamp, country by country. Once that happens, I expect they'll get things sorted. This team and product is so maligned and hated by the internet at large, that they're probably doing something right. Expectations are very low, so they might actually deliver something.

The price has absolutely plummeted since August of last year. I bought just a bit today. If it goes lower, I'll buy more.

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As you can see, I've decided to stick primarily to cryptos in the top 200. Yes, there's money to be made scraping the bottom, but I feel like the risk is too great. With the higher market cap cryptos, there's far less chance of a complete meltdown.

Also, you may have picked up that I'm going to buy more as prices fall. You may rightly infer that I advocate never spending all of your cash in one go. Space it out over several price points. This market is extremely unpredictable, and you never really know what it's going to do, so be prepared for as many possible outcomes as you can.

So, that's my opinion. Please take it for what it is: just some guy's opinion.