I'm a "casual' investor in crypto..."casual" meaning I only check my balances about 50 times per day...read three different blogs more than a couple times each day...check my balances while sitting in meetings....receive email updates from various links I signed up on...have purchased multiple newsletters...."only" own 26 different coins...and "only" utilize 5 different exchanges....
Well...maybe not "casual' but not a day trader....yet.
Regardless... it scares and shocks me to see how much of a balance I have accumulated over the three plus years I've been involved with this...really knowing nothing....just willing to take a chance...not give up...make the mistakes needed to learn...and enjoy the process....
Over the three years I could have cashed out at any time...lord knows my wife certainly wanted me to take that option...would have been nice...pat myself on the back and get on with life...however... I didn't get involved with this just to make a few extra dollars...I did it as a dream...what if...a real life lottery... and having survived the highs and lows to date...see it continue to develop...catch on...grow in value...I know I was on to something...and lets face it...it always feels good to feel "right" about a choice we make...
But...I can't take what I have lightly....and as so often happens in investing...once you have something worth having...it becomes something you worry about losing...So...in an effort to convince myself to hang in there...I have come up with these additional reasons on why I should hang on...
First...taxes...it already shocks me what kind of tax I will owe next year when I file based on what I have done to date...its so easy to lose track of all the trading one does whether cashing some out or just re positioning what you own for coins...trading coins for coins...and as it stands...my profit is tied up in coins and as of now...and the government doesn't accept bitcoin payment.
Secondly and perhaps most importantly...from my perspective..its only getting started...the masses are not yet truly involved...I know so many people...who have "heard" about "bitcoin"...but wouldn't consider it as an investment...too risky...not real...too confusing...sure...I get it...its what separates the entrepreneurs from the worker bees...the gamblers from the sideline fans...but...it is evolving into the mainstream...ready or not here it comes...all it will need is one "legitimate" investment house to allow it to trade in it or market it to its customers as an alternative investment...and BAM...these things take off beyond what's happened to date...
Therefore...in preparation of this next big wave...I am trying to decide what coins make the most sense to own for this purpose...I definitely think early on...the "bigger and better" known coins will be the most invested...like bitcoin...ether...litecoin...monero...dash...steem of course....which come to mind immediately...not to say other coins won't be part of the trading pool...
So with that thought in mind...part of me would like to commit to just those coins which would simplify my life greatly....However...one of the reasons I spread out to other coins was to try and catch the next big thing and make a small killing on a coin that seems to have good technology potential and is talked a lot about....its so hard to sell off those type coins that have done well and continue to do well just in the current trading space...
Would love to hear what others in the Steemit community think about this concept and how they are making their coin investment choices...as "casual" investors of course...perhaps also looking to simplify their lives and end up only owning a dozen or so coins on three exchanges and only glancing at their portfolio and blogs a handful of times each day...
Ha ha, you have no idea how much I can relate to being a 'casual investor'.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post received a 1.5% upvote from @randowhale thanks to @initforthemoney! For more information, click here!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Not alone at all!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I know I'm not alone!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Indeed
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
link to Google!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Can totally relate to this post and really enjoyed it. For me, a few months ago I took out a small amount to pay off my car. There is definitely an element of risk in crypto, so I was saying to myself if this all goes south with the upcoming fork at least I have gotten something worthwhile from the time and money I've spent in crypto. Like you, no regrets just enjoying the experience and the learning. When I first learned about crypto about 2 years ago I saw it as an alternate future. Cheers
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great to hear...I have pulled some out as well...first goal was to pay off mortgage...haven't done that yet but put a some in a good ol' bank CD...
I also was intrigued by the whole idea as well...saw it as a potential game changer...being older...I definitely see how the younger generations who grow up "connected" won't think twice about this concept...
It also blows me away that its a world wide phenomenon....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Honestly all the coins in the top 20 have their use cases and I've picked up a little of everything. I wouldn't sweat it - were at the beginning of a long road and I'll just enjoy the ride.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am...but as said...trying to be "smart" about my coin choices if such a thing exists...thanks.
Do you sell off at all if one comes up a bunch?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great post! Resteemed. I am only in 5 coins but planning to expand soon!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
We all start somewhere...thanks for comments...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Two questions if don't mind...how does one resteem....and how do you get on home page?
I found home page answer...resteem process?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Near the reply button there is a rectangular arrow pointing to the right.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Appreciate it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
thx for sharing
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Here's what I love about this post. You mentioned taxes. Let me say one thing about the difference between cryptocurrencies, the blockchain and government. Government would not survive because the blockchain is totally transparent and there is no such thing with the government. This arena and type of investing is what is going to get rid of government. The reason why? Your voice as an investor is heard, recognized and has value. There is no such thing in government. If you think you have a voice, government is deaf and you don't realize it, or at least realize it yet. Most of us want to live our lives without being raped by overarching, over-regulating demons who don't give a sitoshi about their constituents or the people that put them into the positions they hold. Personally, I don't give one rip or sitoshi about government. If they were honest, and they are not, that would be a different ballgame. Here, I don't feel I will be raped or over-regulated into oblivion by someone who doesn't give a rip about me, and how much they can steal from me. Kudos and keep up the great work!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for your thoughts.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I started on steem three days ago and want to get rich and famous. I wanna buy and spend bit coins.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Look forward to your being famous...be ready for a few bumps along the way...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
i have just 17 coins, but i will keep them for 1-2 years atleast to see how many times they will multiply ;)
We are at 1% of crypto's potential!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
17 is a lot...especially trying to keep track...good luck investing...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
i use android app "blockfolio" for monitoring all of them :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I've heard that app mentioned a lot.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Pre-newbie crypto addict here. Still researching, no purchases as yet, though I'm feeling the urge. Wondering if I'll need a 12-Step program soon? Thanks for your post - enlightening and humorous.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The first step is BUY....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
good
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is my favourite so far..so good! Only been here for a few months. @bobreedo
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good place to start...have fun exploring.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Will have to venture out as i do my due diligence! @bobreedo
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Casual trader. Good one.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
LOL.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
i have 5 coins and am starting out - it wont take long before i will be a casual investor like you
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good luck...hope yor investments work well...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@bobreedo It is very hard, but what I try to do with stocks, is hold them for at least one year. By playing on the long term, it doesn't make any sense to check the prices every day (not even every week). Some times it goes really well and some times I'm checking multiple times per day... To be honest, I feel the happiest when I don't look/think about them since I only put in there what I can afford to lose.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I understand...I do the same with most of my stock investments since mostly held for retirement...but the crypto coin world is so new...rapidly changing...uncertain...and more of a personal wealth pursuit so not comfortable trying to "forget" about it...I admit...I'm addicted! Thanks for input.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I got in at the beginning of August and am already in 12 different coins :P
Although not with as much money as I would like
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Don't over extend...be ready for some wild rides...good luck.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
And, of course, you might be innocently HODLing a crypto when the blockchain forks and then... you're HODLing two. Surprise!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
LOL...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
i check my portfolio 1,000 times per day. I'm debating seeing someone about it because I'm pretty sure I've only worked 10 hours the past 6 months and not sure how much longer I'll last.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
LOL....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @bobreedo! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great post as allways! I upvoted and im following you!
If you want you can participate in my contests and win steem dollars.
My latest contest here: https://steemit.com/contest/@nunojesus/5mj8ch-contest-name-that-country-win-sbd
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good artice
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Awesome Post! I love Steemit! I am a Crypto Investor too... I @kimmoore am just here to read comments... LOL
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Glad you enjoyed it...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is one of the best posts I've seen on crypto in 8 months. It's a simple message, but genuine and relatable. What's kept me calm during violent price movements is the same vision you share, but I took out my main initial investment after ETHs major pullback in June to be playing with mainly profit. I've used some profit to then diversify into other coins and mining contracts. This helps me disassociate mentally from the insanity of the price swings and account balance earthquakes I used to let affect me too much as I have minimal personal funds in the game now. In hindsight, I wish I never sold anything, but then again, I believe it's best practice to take some off the table to play with house money. It'll cost me more profit in the future, but far less stress on the way there. I have started selectively making new investments with USD, but only in alts I believe will be successful in the long term, not short term flips. Being from NY, a heavily regulated state, it's been difficult to get alts until Bittrex opened their doors. This also kept me sane as I first got into crypto by not having too many options to worry about, although watching Ripple go from half a penny to .42 cents was a bit of a bummer. Hope this helps you commiserate.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Its right on...it was just play money gamble for a long while...now its become something I spend too much time trying to build...I have to remember its found money...keep it fun...not beat myself up if I leave a coin too early...as I say...it may not matter what you are invested in once the next wave hits...everything will rise...good hunting...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I guess it's about trying to have gratitude for the gains instead of dwelling on the what could have beens :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Amen...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am the same kind of casual investor you are! LOL thanks for the great post following and up voted
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Glad you enjoyed it...good investing...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for sharing.. Same here, just started the game later...
My portfolio right now is like 60% bitcoin, 25% litecoin, 10% neo, 5% alts...
Hows your mix?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
About 50% NEO and related Binance coins...about 25% BTC and ETH cmbined and remander spread over 20 or so coins.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
great read, thank you for posting @bobreedo
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Appreciate the comments.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am impressed with the technology behind that disrupts businesses and gives the opportunity for everyone
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is disruptive...but like the internet...business people will find a way to make it work for them and even control it somehow...the profit motive is a powerful force...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Enjoyed and relate to ur article. I got this urge to buy btc eth ltc late last year. I am a risk taker and so far, so good. Unbelievable actually. I want to buy other alt coins but dont know how. My holdings on a coinbase and they only process the three I have. It was pretty easy buying thru them and i sold a tiny bit to see the transaction go the entire route. Havent bought anything with the coins...dont really know how. Thanks for the knowledge.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Glad to hear things have worked out...I started on coinbase as well...I believe they have a GDAX exchange you might look into to trade other coins or use an exchange like Bittrex as a starting point...usually set up easy...learn to transfer in some bitcoin to use for trading as that's easier than trying to get accepted to use fiat...if you do set up...always do a small test transfer first...again...the process isn't real "user" friendly...but worth exploring if you want to expand your horizons...definitely what you own are what I consider the "big three"...and look at Litecoin finally making a move! I use the cyrpto compare blog site to learn a lot about other coins and exchanges...good luck.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@bobreedo, I love your definition of casual here
I wish I was as smart and bought some cryptocurrencies instead of working my a$$ off doing my PhD, which mounted to no money and overqualified status wherever I go.
I am thankful however that I started my journey, late but hopefully not too late, to understand this new world. Mind you, I haven't invested anything yet since I am not sure what to invest in and how.
You may wonder, so why are you commenting here? I would say, "Just cuz I felt like it" :P_ Joking ;)
I just wanted to ask you, what are you going to do with the money you gained from investing in cryptocurrency? I mean, I know it's not mu business what you do with your own money, but I hope you are at least enjoying your life with the money you gained and not only saving it for the next big investment! As that would be a real shame. You never know when the government will decide to implement taxes in crypto.
Sorry if I said something that was not my business. Just though to remind you to have a good life and live it, but I hope I didn't need to do so.
Many thanks for sharing :D
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I appreciate the kind sentiments...at a point in life where I can't afford to stop working but would like to dramatically slow down...this investment may allow that opportunity sooner if it continues on its path...but as you say...no gurantees.
Don't downplay your accomplisments...I missed many financial opportunity waves over the years...this won' t be the last...and not too late to still dip your toes in the water...
Good luck.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am really happy you didn't take my words the wrong way :)
Many thanks for your kind compliment and for the encouragement and suggestion
Good luck to both of us in this word :D
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@bobreedo Good article friend
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice post. As for me, I am only considering it "income" if I receive coin/ethereum as payment, or I sell to cash. To me I view the whole crypto market as a single commodity which, if I sell out of within two years, will have to pay capital gains. Am also writing off my mining gear against my ethereum income.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for your input.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
good read my friend, I am also new to crypto!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Enjoy the ride.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @bobreedo.
I think the next wave comes with great gains from:
QTUM / AUGUR / METAL / DECRED / FACTOM
All the best for you.
R.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I have some of those in my stable as well. Thanks.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
In this moment cryptocurrencies are more than an investment, they're a dream that connects people from all around the world.
I share your thought and enjoyed reading it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'll be holding on to a few of these coins I'm amassing longer than the singer from Simply Red....
New Post!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good one.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Lol, not my finest moment :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I check my crypto portfolio three times a day and constantly ask myself if I'm missing any new and thriving ICO opportunities out there. There are so many new cryptos coming onto the scene and I do feel overwhelmed to say the least. As the bubble grows, my anxiety grows as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Piccata? Titicaca! I am Cornholio! I need piccata for my bunghole!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I understand...unsure myself on next move...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your post is promoted. Promotions make SBD & STEEM stronger.
Your reward is an upvote and 1.76 SBD extra promotion.
Good job, see you next time in
Promoted! ;)#steam4steem
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Oh boy! I'm glad there are people with the same mentality as I. I'm obsessed with this. If it looks like I am doing nothing at my desk because I'm sitting there with a blank face it is probably because I am thinking of the next coin I need to buy or the next exchange I need to check to see how my investments are doing. What a relief! Excellent post! Made my day thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Lately I even look for trades I don't need to make if things are too stable.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's good to diversify a bit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit