You are viewing a single comment's thread from:
RE: Introducing Myself: Tales of an Expat Code Slinging Crypto-Enthusiast (Part 2)
Howdy. Interesting tale of how you got here from there.
I was in on DAO as well. No regrets, at all. It's far from the worst investment I ever made. I basically came out with a very tiny profit by selling it all on Poloniex. I've had investments go bust, so am pleased to have a failed one pay me back. :) Now there's talk that there may be something done with theDAO on the ETC side, so maybe a couple more bucks can be gleaned from the failed investment. And it provided ETC, which is actually doing pretty decent (though hardly making up for the drop in ETH when the pillage was done).
Heck of a thing that DAO, wasn't it? Quite an emotional roller coaster ride. I almost panicked and lost it all, but just managed to hold back from the temptation to dump all my DAO tokens on Poloniex in the initial hours after the hack. In the week before the fork, I traded the DAO / ETH ranging action pretty aggressively, and actually was able to recover my initial investment before the fork. So I got the ETC too as a kind of bonus. Glad you came out a bit ahead, well done!
I was pretty collected through it all. My position was from ETH profits, so to me it was part of the trading gig. Some gains end up as busts, but the rockets should more than make up for it. I didn't even bother studying the issue very deeply when it happened. I just watched and waiting to find out how it would all shake out, expecting that I had lost all my investment. I was holding almost all of mine in a contract on my Mist wallet.
So when we were able to recoup our entire investment, I was pretty pleased. I do feel bad for Stock.it. Two lines of code sure ended up causing them significant losses. I don't get the code, but just reading that makes me feel for those who made the mistake. It's not often you get to have such a major affect on millions of dollars. :)
What are you looking at now? AMP's drop in light of the second sale reveals a lack of wisdom on the part of the founders. But it happens. Hopefully they can shrug it off and move on. I have an order in, but it's not filled yet.
SingularDTV looks pretty cool. I'm looking forward to their release. I got into the REXmls too. Lisk and NXT look interesting as well. I really like Singular though. Oh, I snagged some Lumen too. Lots of speculation, but just one home run sure makes a difference.
I feel kind of bad for Slock.it too. As a software developer myself I know it's pretty much impossible to write completely bug free code. You need to plan for bugs and have a strategy for stamping them out when they surface. Although normally they don't end up costing millions of dollars. But it has been known to happen. At my firm, just a few years ago someone made a 1 line error, setting some bit of configuration to a wrong value, which ended up costing the bank $1 million in a bad trade. Can't imagine how horrible that guy must have felt.
I'm not too interested in AMP. Since I'm already invested in Steemit I'd rather invest in an unrelated technology so I'm more diversified overall. AMP might present some good short term trading opportunities though. I was just reading the SingularDTV whitepaper. That does look quite promising; I'm planning to invest about 5% of my ETH holdings in their token sale. I also like the LBRY project, been slowly cost-averaging into a position in LBC. BTS has good potential long-term, I think it's rather undervalued and has received some positive attention lately with the Peerplays share drop happening this month.
You're right, it's those few and far between home runs that have resulted in the most portfolio growth for me so far.