Hey Steemit!
I've read many many blogs where they all say: if you invested $1000 in the top 30 coins a year ago, you'd be rich!
Well week by week, I'm going to accumulate coins by different means (mining and otherwise) and track progress about their performance. I will post weekly updates about what I'm accumulating and why, and performance for the year. The rule of this challenge is:
I cannot spend more then $1000USD, and I cannot sell any coin back to BTC. Mining is permitted, but no insane rigs.
This experiment will end 365 days from today, and we'll see where we end up!
Follow for updates!
wow good luck! I'm not sure I believe that buying + holding claim myself. What people never talk about is the way to make the most $$$ - which involves holding quality coins but also swing trading them at key points. Why ride the ups and downs of the market holding when you can making money? ;)
For my main crypto trading account I do a lot of swing trading, but for this one I'm really going to attempt to stay under $1000, and use more resources on the mining side; as many have a video card available to mine and if others want to follow in the hodl challenge they can as well (and maybe learn something along the way?)
Ya for sure I am really curious to see your result! :)
From my own experience this is a better strategy than trading.
Except I would make 1 change to your plan.. instead of just investing randomly in the top 30 coins, narrow it down a little bit. Pretty much everything in the top 30 currently will go up by a lot in a year from now, but some may go up more than others.
These days, I only buy to hodl for atleast 6 months.
Yes I plan on narrowing it down based facts about the coin, and ones that hold a bit more promise then others. Should be a fun adventure!
You may like to check this : « What would have happened if we would have Invested 10 $ on the 100 main currencies at coinmarketcap.com the 1st of january of 2017. »
https://www.cryptocompare.com/portfolio-public/?id=43976
Very interesting....
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