2016 is Coming to an End and Bitcoin is on a Tear.
I returned to the world of crypto currency a year and a half ago after losing my ass back in early 2014. At the time I invested my BTC into AuroraCoin which immediately dropped like a rock. My first altcoin trade and I lost 80% of my money. I took what remained and bought Dark Coin, now Dash, which also took a dive. My BTC was crushed to dust within two weeks thanks to being a newbie in the crypto trading space.
My Naivety Led Me Down That Path.
Whatever I do in life I do with confidence and sometimes I pay the price. If I would have taken baby steps, learned about altcoins and how to properly trade I would have never been in that position. I truly underestimated how quickly trades move in the altcoin world.
Now I see many of my fellow Steemians interested in Crypto Currency trading. I know many of you have thought about buying a few of the altcoins or even some Bitcoin. I beg you to take caution with the Altcoins. This market can eat you up and spit you out in minutes.
How My Trading Changed Over the Last Year.
- I no longer invest in ICO's (Initial Coin Offerings). I only made money on one ICO out of five that I participated in. That ICO was LISK which ended up making me a nice stack over time.
- I now focus on a few altcoins that I know instead of betting on tokens I don't understand.
- I don't buy the hype. Be careful where you get your news on Crypto Currencies.
- I keep 70% of our Crypto Currency investment in Bitcoin. I used to hold the other way around. If I would have kept 70% in Bitcoin since I returned to Crypto Currency investing I would have a much larger investment.
Crypto Currencies I Believe in Long Term.
- Bitcoin- The Grandfather of Crypto is not going anywhere, anytime soon.
- Dash- I like the team and the moves they are making. The Masternode concept is brilliant in my humble tech opinion.
- Steem- This is my favorite altcoin community. Since I write on Steemit.com I get to mine Steem by producing content. Freaking Genius!
- Ether- If they can get their crap together this token will do well. I don't currently hold any due to my wavering confidence.
What Are Your Favorite Crypto Currencies for 2017?
We all have our favorite. What is yours and why? The great thing about Steemit is that there are many great crypto minds on the platform and each of you has important input. Please tell us why you love a particular crypto in 2017.
BTC, BTC, BTC... It's all about getting it and HODLing... then getting more. However, I do have a positive opinion on DASH, STEEM, MAIDSAFE. I'm watching closely the developers who will find ways to use BTC in innovative ways as improvements to the protocol are rolled out. Micropayments will be huge as they become possible with BTC. Keep an eye on Kim Dotcom and Ryan X. Charles @ yours.org. In general, the alt-coins I like are the ones that can promote social interaction, serve a specialized niche or have features that BTC is currently weak in (such as privacy), however, BTC development is proceeding despite the noisy drama over the "block size". It's a healthy debate. MAIDSAFE is a totally different kind of crypto with a different mission - not even a blockchain - but a radical approach to decentralization that I love for the way it can "stick it to the man". ETH may work out, but it seems to complicated and clever for its own good. The most resilient systems are the ones that grow organically. They don't spring fully formed from the head of Zeus (or Vitalik).
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I'm on the same boat as you. I'm holding mostly BTC until summer 2017. I will probably buy a ton of steem once price hits below 3 cents. I'm also interested in Dash (especially since I was part of core team) but that will have to wait until summer 2017. I believe a HUGE bear market is coming to ALL alts.
Is maidsafe the one that is like DNS network 2.0? If so, that one also interested me but not as much as the others mentioned.
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Good input. TY for that.
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I would love to learn more about Maidsafe. My trading buddies were big on it earlier in 2016.
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A man by the name of John Ferguson has done a great podcast series explaining the basics. I think it's called SAFE Crossroads. I don't recommend trading MAIDSAFE or any crypto, including BTC, but I think it's a good one to watch for entry points as the fundamentals develop. I plan to run a SAFE Network Vault as soon as they are released into the wild. The are apparently running already in test mode in stable server farms. This may not turn out to be a customer-facing tech, but it could certainly disrupt all sorts of centralized storage.
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I don't see a ton of your comments @thylbom -- but when I do, I read them. I learn from people like you, so TY for that.
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Some BTC,
some STEEM,
fuck the rest,
they are a pipe dream.
:D Just a rhyme. Except I don't touch shitcoins, cause they are shit and you lose money playing their hype and FUD FOMO pump/dumps. Steem and BTC only for me.
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Nice rhyme!
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LOL. Quality input man lol
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Privacy will be very valuable in a blockchain ruled world
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BTC for its storage value, Ethereum for their amazing innovations in technology which i think and feel in the long term will greatly benefit holders of that token and then there is Digix / DigixDao which is a token backed by gold on the ethereum network. Those are my top three interests while I use my steem to trade for more of those currencies.
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Hodl BTC and giggle at fiat ;)
I check out other alts but I'm no @craig-grant :/
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lol. (Y)
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Bitcoin is my favorite technology, money and code.
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Hodling Steem. And getting more Steem. (also BTC :)
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I just started buying steem. Got in at 10-15 cents a token last time, total luck. I am looking at peerplays, I only like coins that I have an interest in. So a rake free poker game sounds like a great investment. Heck investing in a casino that will take my money, is a awesome investment.
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I'm loving OKcash long term. They don't have a huge market cap , but they have a really strong community and strong dev team . http://coinmarketcap.com/currencies/okcash/
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I will check it out. I admit I never heard of it until now.
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Upvoted and Tweeted. Stephen
https://twitter.com/StephenPKendal/status/808737704980738048
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Thank you Stephen!!
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You are very welcome. Stephen
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Disclaimer: I am just a bot trying to be helpful.
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I've got only small amounts of most of the big ones like ETH, FCT, MAID etc plus a few longshot ones like WAVES, STRATIS, MYCELLIUM, ELASTIC etc.
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I won't say much on a public platform, but I dabble in ICOs, in addition to the more visible ones mentioned. No DASH though. I have nothing against it. I've just never bought any. My Steem investment is pretty public already though. :)
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Good input.
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Bitcoin going high sucks a lot of the value from altcoins
I think as soon as bitcoin stops going high or go down, altcoins are back on the show
But if we have more countries with financial crisis, bitcoin will keep going high
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Doesn't the price of BTC rising help altcoins? Say I invest $100 into BTC and then the price raises and it turns into $150. I could take some of my profits and reinvest them into altcoins since I have more money. At least that is how I have been thinking lately
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When Bitcoin is getting high every takes out the money of alt coins to invest in a more profitable bitcoin, but it's beneficiary when bitcoin goes down the capital flies again to the alt coins and they some became very high
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That seems a little backwards to me. Wouldn't you want to snag bitcoin when it's low and spend it when it's high? If I can buy alt coins with BTC I feel that the best time to do so would be when my BTC is worth the most. I can just restock my BTC but for what I have already put into it, it's worth more and am getting more for my money.
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I'm talking about people I know that invest xxk's of fiat currency in coins, they have all now in bitcoin and as soon as it stops going up, they will invest in alt coins
But with the prediction of a rising bitcoin till January, they will surely keep their capital in bitcoin
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Dash, steem and BTC, not a huge amount but hey ho its fun to have.
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I bought a little Ether when I heard the news of a whale getting hacked. It was up 20% before the coin even arrived in my wallet. I've wanted Ether for a long time and almost bought it much higher.
Mostly I've just been in BTC. STEEM was one of the few projects that really interested me. I've had so much fun here since July that I'm considering branching out a bit more. I'd like to eventually get some Dash and Monero (and maybe Zcash?) because I like the anonymous nature of those coins, but I also think there will be a lot of volatility there and it's nearly impossible to know which ones are over-priced and which ones will go up.
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I've been interested in monero for a while thinking about buying. I don't know about Zcash though. Sketchy things were going on at release.
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I don't own any Monero but I respect the fact that they have grown without much PR. I mine Zcash with Genesis which will only reach about 30% of my investment at this rate. Thanks for stopping by Luke.
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The interesting thing about Monero, to me, is how little attention (price wise) it got for many months. Once articles about "the darkweb now accepts monero" starting popping up, the price went crazy. I have friends who got burned on that one and bought at the top.
I always enjoy your content and am going to start playing around with Steem Voter so I can not only vote up consistent authors, but have a nice reading list in the logs there. :)
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Very few currently, but hopefully a lot more different ones soon!
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Insert drumroll there! We know you know stuff! Spill it LOL.
j/k
I am sure though you are going to be excellent in the long term from what I know about you. Thumbs Up dude.
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Right now I am only interested in Bitcoin, my strategy is pretty simple I leave the bitcoin into my wallet ;)
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Bipcoin all the way.
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All you have mentioned above + Burst Coin
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BTC and STEEM
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I've been mining ETH and ZEC, but converting it t BTC to hold.
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Are you getting decent results with ZEC? I am getting dust with Genesis.
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Same here, I think the gamble I took on a Genesis mining contract was just a big waste of BTC. At this rate, I'll be lucky to make back even half the investment. Cloud mining just doesn't work out most of the time, would have been better off holding the BTC and maybe trying short term trades whenever ZEC seems to hit a local bottom.
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I wish I didn't do it but I learned to not cloud mine : )
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Not really. I'm going to switch back to ETH. It's the steady earner.
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BTC and Steem!
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Not a bad plan at all!
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Right now, BTC is way expensive..and they say undervalued!
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BTC, Steem, and Ether. No time to mess with anything else.
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That is a great approach! Focus on a few and learn about them and the ecosystem behind them.
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Like what you mentioned earlier in posts to me. Amen.
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Good advice. I forgot to get back to your post you made today, congrats on your milestone -- the most recent anyways, WTG Brian !! I noticed it though in my feed and got tied up
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My top 3 holdings going into the new year are, in order:
ETH - More than half my portfolio is in Ether. It's been going through some growing pains, but the Dev team has been resolving issues in a timely manner and the network is growing more resilient as a result. In 2017 we ought to start seeing some of the early big dapps launch, and Metropolis release is on the way.
Steem (powered up of course) - now is a great time to be an accumulator while Steem price is still cheap. 'nuff said
REP - Augur has the potential to be the first Ethereum killer app, and its token REP is one of the only ICOs besides ETH itself that has been a clear winner so far. If Augur takes off, it could launch Ethereum into the mainstream and emerge as a market leader among prediction markets.
Besides these, I also have a number of smaller long-term positions in Digix DGD, SingularDTV, Golem, and ICONOMI, all of which should hit their stride in 2017.
And of course I keep a decent amount of cash reserves in BTC, which I use to slowly accumulate other positions as the value of BTC increases.
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BTC, Steem, Monero. I think Monero could get huge when ETH's POW ends.
Check this page you'll really enjoy it if you never seen it.
https://cryptolization.com/
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Very cool indeed. It is sad to see altcoins dropping so much but when BTC takes a breather money will move back in.
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Seems only STEEM has any potential big news coming up anytime soon. I like ETH / XMR too, but already sold all mine at > $10 per token after buying in at $1 to $2 per token, so already made bank with those. Arcade City and Golem I do hold a decent amount, but am unsure as to whether they will rise in value or not. I try to pick the cool projects that fly under the Radar in the beginning, works well for me so far.
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Uv this y-day, I could not get back here til today, I wanted to read all the comments and learn! RS for you just now, I was hoping the recent activity on this post would prolong the period it stays active for, I am learning LOL.
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I invest in all Poloniex alt-coins. Even the zombie coins. I make small wins in the short-term by holding micro amounts of all of them and sell when each one pumps. That means that I am never buying in on the upswing... I buy low and sell high. I pay attention more to the 1-Day candles. I get out of everything in my portfolio except BTC when BTC has it's first pump of a cycle, then hold BTC until it has several dumps. When it trades sideways.... neither gains nor loses is the best time, as the alts start pumping while also rising in tide overall. The worst thing to do is hold bags of alts when BTC begins a bull run. Get out even if you lose 10%!
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Thanks for this post because I intended to ask the same question :)
I don't hold much coins at the time when you look at the total.
A bit of BTC, Steem of course, then Xaurum, AMP (yes, I am afraid so :) ) and tiny amounts of assorted other coins like DOGE, PoSW, NAV, ...
For 2017? I am not a trader. It will be BTC and Steem. And whatever comes out of AMP.
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Good article. I was about to post a similair thread. I do believe in blockchain. But since the market is more inflated as with the internet boom we do have to see the high risk investment the cryptomarket currently is. I found this great website: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. For example: https://www.coincheckup.com/coins/Xaurum#analysis To see the: Xaurum Detailed analysis.
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