Hello Steemit,
ByteCoin BCN gained nearly 800% over the last week. I don't know if ByteCoin is an overpumped Shitcoin, but this coins is traded with high volume and has climbed to rank #7 in CoinMarketCap charts.
In this case the new coin (ByteCoin BCN) replaces the weakest coin in NEMO and FLIPPER portfolios, currently Monero XMR on rank #10. As ByteCoins is not traded on Bittrex, i can and will not replace it in NEMO portfolio (which is traded on Bittrex). But I have replaced it in FLIPPER Portfolio, which is traded on Poloniex.
The state of the FLIPPER portfolio before the replacement.
The current state of the FLIPPER portfolio after the replacement.
With the rise of ByteCoin into the FLIPPER portfolio, Monero is fallen down to ARIELLE portfolio. Since ARIELLE portfolio did not bought ByteCoin in the past, a complete rebalancing of the ARIELLE portfolio was necessary.
The state of the ARIELLE Portfolio before todays rebalancing.
The calculation of the number of coins to be sold (red) or bought (green) can be found in the right column. Coins like SiaCoin SC or ROUND that are not traded on Bittrex are not added to ARIELLE portfolio. Please not also that Factom FCT was replaced by DigiByte DGB.
The state of the ARIELLE Portfolio after todays rebalancing.
Learn more about PermaCryptoFolio
If you are a new reader, please read first the PermaCryptoFolio experiment announcement.
Second follow these links to learn more about the 3 portfolios:
Withdraw all the funds out of the exchanges!
It is strongly recommended to withdraw all funds out of Cryptocurrency exchanges when not needed for trading there.
In the last days I have written a series of pictured tutorials HOWTO withdraw
- STEEM
- SBD STEEM DOLLARS
- XMR Monero
- BTC Bitcoin
- ETH Ether
- ETC Ether Classic
- LTC Litecoin
- DASH
- REP Augur
Thank you for reading!
Disclaimer
Nice blog. Interesting to see I'm not the only one that is thinking about this. Investing in the cryptospace might come with a high risk but honestly I don't believe the risk is that high for the people who are daring to HOLD their coins for long. Besides coinmarketcap.com there is: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. See: https://www.coincheckup.com/coins/Bytecoin#analysis For a complete Bytecoin Report.
I think your description of Byte coin is right (shitcoin) but its worth holding some just in case.
I don't know, but thank you for your comment :-)
I wonder if there's a way to catch if a coin is about to hit the top 10 within a timeframe given a current trajectory. I like the idea of rebalancing that you do. If I could find the time before though, it could make sense to catch the movement at a cheaper price.
That's why I introduced the ARIELLE portfolio some weeks ago.
https://steemit.com/permacryptofolio/@twinner/introducing-arielle-portfolio-an-addition-to-permacryptofolio-s-flipper-portfolio-to-cover-the-coins-and-assets-on-the-ranks-10
ARIELLE invests in the coins between #10 and #25, but with less and less money the lower the market capitalization of a coin is. This allowes me to buy a coin "cheap" if the coin jumps from #30 into Top 25, and if the value of the coin grows, there are good chances that I do not need buy additional coins if the coin climbs into Top 10.
If I would restart the experiment, I would combine FLIPPER and ARIELLE to only one portfolio.
Sounds good, but some of these altcoins do not have light weight wallets. How can we hold them in a secure way without running a full node?
I just risk it holding them on Bittrex. The Ethereum based token I drew out of Bittrex, for the rest I'm to lazy to install wallets.
This looks like a solution to our problem. No more need to trust exchanges (although bittrex and poloniex have been trust worthly so far).
https://steemit.com/money/@leprechaun/shapeshift-launches-an-altcoin-portfolio-wallet
But you have to trust shapeshift that they have the coins in there wallets to hedge the price movements of this prism tokens.
this post is so interesting and heplful to the newbie like me. I follow you
this post is so interesting and heplful to the newbie like me. I follow you, upvoted and resteemed this po :)
BCN : 800% over the last week !!!
Thanks for sharing and thanks for info About "HOW TO withdraw"
Great Post ..
Samer
Hehe, thank you, seems I need to make a new withdraw tutorial for ByteCoin. Last week I made a joke in a chat that 1 ByteCoin = 8 BitCoin. And now this...
Good news, thanks
Thank you very much @jamhuery
Great post .. I've loaded up with BCN days ago on poloniex however all withdrawal has been disabled for poloniex. So it's either trade or just leave it in the exchange .
resteem and upvote for you....
thanks for your work!
Thank you very much @lenatramper