This is an update to my first cryptolog on Steemit 7 months ago - you may want to read it here - Etherpunk's Cryptolog #1: The Greener Side of Summer 2016.
Disclaimer before continuining: I'm just an amateur trader / investor. Only use what you can afford to lose (or what I would like to call disposable or f***around money)
Since I'm not powering down anytime soon, it's obvious that I'd want STEEM's market value to improve. So maybe one of the ways to increase STEEM's value is to set an investment budget, just like what any other organisations do. This could even be made into an opt-in consensus-based reinvestment plan using smart contracts. For now..
- Reserve X% of your liquid STEEM earnings.
- Use them to buy low, sell high on other currencies.
- Get into reputable ICOs (Initial Coin Offerings). Sell at a high.
- Reinvest X amount (from Step 1) or more back into STEEM at a good price.
- Power up. Repeat process.
I would suggest X% to be ~10% to 20% if you're finding a need to spend the rest. Or else, use a larger chunk to buy cheap cryptos on the news and get into reputable ICOs. Remember - never to sell your cryptos at a loss - just wait it out (could be extremely terrible advice here lol). Consider cryptocurrency's total market cap of ~20 billion USD vs. fiatcurrency's total market cap of trillions of USD.
Upcoming ICOs and my own subjective confidence levels
- https://qtum.org/ (8/10)
- http://mainstreet.ky/ (6/10 - edited to lower this score after considering the alert regarding this ico, please check comment below by @ash)
- http://crowdsale.iex.ec/ (6/10)
Use this website to get to know about upcoming ICOs and learn about them:
https://www.smithandcrown.com/icos/
Or follow your favourite crypto-personalities on Steemit.
All the very best in your blockchain adventures!
This cracked me up. Are you planning to participate in those ICOs?
Yup all three :) Recently sold off some of my Iconomi (ICN) tokens to cover the original investment - pretty happy about it!
Woot!
:D thanks to your advice!
Where did you seel your Iconomi (ICN) tokens? Poloinex is the only place I have been trading and I don't see ICO's on there
It's listed on Kraken exchange under ICN / XBT (XBT is the name for bitcoins in some exchanges)
If you've previously bought Iconomi tokens (ICO has closed), it'll be here: https://ico.iconomi.net/
http://crowdsale.iex.ec/ (6/10)
I am surprised you only rate this a 6/10... for me of the three this is the most exciting. I can see the synergies though between iEx.ec and Qtum .....
Haha I gotta admit it's a mix of considering Ethereum's Golem first mover advantage and its subpar branding.. which is why it scored lower on my confidence rating, but agree it's pretty cool :)
I work for a very large retailer, and we are aggressively moving into the Cloud/s .... but the youngsters here get p!ssed off when I tell them it is not real Cloud, just a bunch of tin in someone else's data centres. I have been telling them for a while now that blockchain will be the real deal one day... so that little project will get a lot of my attention, especially as I have been asked to head up a small team to investigate potential uses for blockchain technologies within the Group.
So big thanks for the post... led me straight to them {grin}
I actually gave a lecture last month to some of the developers at my company(about 40 of them) on how Ethereum works and the potential blockchains have for data storage and applications. We do media and entertainment so it is pretty huge if we could securely move into one of the datastorage coins for much cheaper than the millions being paid for redundant cloud backups of the thousands of terabytes of data we have.
Forking to a private chain like a lot of the banks are looking at also has a lot of use cases; I could see retail using it for warehouse/workflow/shipping tracking and having a much more robust system. Good luck and that sounds awesome, I wish I could have a team to investigate ways to implement it here.
can you give me an example of a data storage coin to investigate..would be appreciated.
So there's MAID and Storj which are the two front runners right now it seems, SIA is another contender but I haven't seen much from them recently. Ethereum is supposed to at some point have on-chain storage but it hasn't been as much of a priority as the other parts have been.
Just like most software, we'll pretty much have to wait and see which one takes up widespread adoption and is actively developed. Right now they're all in their infancy.
I like that bit about waiting it out. It could obviously backfire horribly but it is what I have started doing and it mostly works!
All too often in my early days I would panic as the price would seem to plummet on a coin I had bought but maybe a month or so after selling at a loss I would check out that particular coin and see it had recovered to double or one and a half times as much. So yes, wait it out shall be the cry!!!
Well... didn't really apply to STEEM lol (ouch). But yes, generally just waiting is best. Hold onto value, not speculation.
Yeah steem was a hurter! But others not so bad!
more like 0/10
https://steemit.com/ethereum/@ash/charlie-shrems-next-jail-time
Interesting. Will edit the post to include your response for consideration - thanks @ash !
Great idea! I've been considering taking some liquid steem/sd to play from bitcoin poker, but this would also be fun. Thanks for the info, I'll do some reading up!
No prob :)
It'll remain fun as long as it doesn't eat into necessary money!
Oh sooo true. My best time in poker was after I had won enough to pull out my original investment. Then the worst I could do was lost somebody else's shirt. Whenever I felt like I had to win, I lost...trying to force things when I really shouldn't.
Thanks for the info. I'm looking at some ICOs too. Have you read about Equibit, https://ico.equibit.org? I really like the concept. Would be interested to hear your thoughts on it.
Nope - thanks! The website looks good haha.. I'll digest it over the weekend and see if I have any opinions on it. Usually I'd just determine based on the community / backing around it more than the technicals..
What do you guys think of this ICO? https://ico.centz.net/
Haven't seen this one yet. I usually make a decision based on its name - centz doesn't sound so good lol.. (but will take a look at it)
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