Welcome to the dippening. Are you buying? Let's say you had $10,000 that you wanted to buy into crypto with. What would you get? Bitcoin? STEEM? ETHER? DASH? What? And why?
BTC
Bitcoin is the native crypto that started it all. It has dominance as the king of crypto. But will it stay that way?
ETHER
Ethereum has gained popularity, as many projects have been launched based on the ERC20 tokens, and many within the blockchain as apps. Is Ethereum poised to take over from Bitcoin as a superior token and blockchain? Maybe EOS will prove to be even better?
DASH
DASH is coined as digital cash, and has seen adoption in many places. New Hampshire has seen a spread of crypto currency adoption, with Dash being accepted in over 20 businesses. Is Dash the superior coin for the future?
STEEM
STEEM is on the fastest blockchain, Steem. If this was used for transactions, there wouldn't be the long delay of Bitcoin, or the shorter wait period of Ethereum. Steem isn't only a crypto where you can buy and sell it, you can earn it to get more, at least that's how things were supposed to be, prior to vote selling.
But, holding coins or buying coins like others cryptos wasn't enough for passive investors of STEEM. They had to game the platform and sell their votes to get more tokens, while most of the rest of the community earns their way to more tokens. Some people don't like to play fair and earn their way. The Steem blockchain has become the most easy to exploit and get more tokens from compared to other blockchain and cryptos where you have to mine or buy in.
Which token would you choose to buy if you had the money to do so? Another one? Why would you pick one over another?
What if the only two choices you had were between Bitcoin and STEEM? Which one would you pick? Why?
If you had BTC, would you buy STEEM?
If you had STEEM, would you sell it for BTC?
A lot of accounts are powering down and depleting their SP, even popular accounts that get buy trending posts each day. I guess they don't need SP to vote when they just get auto-voted on and buy their way to the top, so having SP doesn't matter at all, why not just sell it in that case...
The dip is on. Are you buying on the dip, or selling off your stake for something else?
Source
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When I transfer Litecoin to Binance from Coinbase it takes 4 confirmation blocks (10 minutes). Guess how long it takes to transfer Steem to Binance? 1 block (3 seconds). I've been seriously considering cashing out all my Litecoin and using it to buy more Steem.
If SMTs deliver even half the functionality they claim to that's going to give this platform a permanent boost. What does Litecoin have going for it? Everyone got burned by LitePay and many people have little faith in coins that simply want to be used to pay for things. APIs and Smart Contracts are the future.
Surprisingly and unfortunately BNB (Binance) coin has the best track record over the last 5 months. It just slowly and steadily keeps climbing. It's value is artificially imposed in a centralized manner but it has value all the same.
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Yes, BNB seems high, I guess wait for the next dip?
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i am definitely buying the dip. I did dip my hands into bitcoin a week ago. I think bitcoin's dominance is there for a reason. It has been tested the longest and does what it says. I do think institutional money will first hit bitcoin which will cause dominance to go up. If I had 10k, I would allocate 45% to bitcoin.
The next things for me would be protocol coins. And not the untested ones, So next 25% will go into ether, and 10% into NEO. I think these two will continue to see the ICO boom, and with Ether no longer seen as a security by SEC, I am actually quite bullish on it. I think it will set a new record against BTC soon.
I have 20% left. I will put those in protocol layers I find interesting. 5% in ICX, & ADA, and the remaining 10% in Steem. ICX is backed by Korean govt. and I think ADA is just interesting as a Blockchain 3.0 project. The amount of academic brain behind it is phenomenal. Steem is one the best fully functional blockchain projects we have right now.
That how I will allocate 10k. The main principle is diversification, not from a risk mitigating perspective but to get exposure to projects I find interesting at the moment and the ones where I see a lot of promise.
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Your selection of projects is very good and clearly shows you are reading a lot about them. I am impressed.
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Thanks a lot @prameshtyagi! good to hear it from you, i have read your blog, so any appreciation from someone as informed as you is great.
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Thank you for that detailed choice ;) ADA is the future? What's so great about it?
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I didnt say ada is the future. I decided to allocate 5% of my capital to speculate on the founder, the academic approach, and what it hopes to deliver. 5% is ok to speculate with i think.
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"Blockchain 3.0", so I took it to mean the future of blockchain tech ;)
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Aah.. then pardon me for the confusion. I use the term as heard .. bitcoin is blockchain 1.0, ether was 2.0 and now eos and ada are 3.0 trying to solve scalability. Didnt try to imply anything about the future there.
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Yes. It is time to buy. I am buying Binance coin. It is another good coin with consistent revenue and profit.
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I would pick up some more EOS and BNB. BNB has been pretty steady through the dip and I have a feeling that Binance might be the first decentralized exchange... if that happens, it will skyrocket.
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Good point regarding BNB.
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BNB is high now, expecting another dip before it keeps rising?
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It's been pretty steady all through this last dip... the one green spot in a sea of red. So if past performance is any indicator I'd say no. Also I have a sneaky suspicion that they're going to come up with the first decentralized exchange.
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Surprisingly, at this point I would not 'buy' any crypto regardless of price. They want us eventually in a digital currency to control us like in China. If you say something contrary your social credit score would did and perhaps your digital money is turned off. I do not want to give them that much control of my hard earned stored wages. Silver and gold is good. Hard assets are best. I will however earn steem as a blogger as a way of diversification in owning assets and will buy with my earned steemit account on the dips. But will not invest my own money into their controlled deletealbe currency. I do believe in cryptos and realize they are the future. These cryptos are being beta tested for an eventual one world currency as is the plan of the elites. Thanks @krnel
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Gold and Silver might be good but it's still just ones and zeros on a computer unless you physically hold the commodity. Obviously this comes with its own risks.
If encryption is good enough to keep our warmongering government save from attack then I trust it will do the same for blockchain.
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I know that physical gold has held up much better than paper currency. $20 in gold 75 years ago will still buy you full value of what it is worth. Not so with paper fiat . Crypto could go the way of fiat as to devaluation over time unlike physical metals.
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There's a reason the most knowledgeable people in the field refer to Bitcoin as Gold 2.0. This would imply that it's better than gold by a huge margin.
Bitcoin is blockchain 1.0, so I think that lumping all cryptos together and comparing them to physical commodities may show a significant lack of understanding/vision regarding the technology.
We already know how to create gold from energy, so saying that gold can't be devalued is also false. Just because it costs more energy today to make gold than it's worth doesn't mean it will be like that forever. Energy is relatively infinite. The technology to harness infinite sustainable energy gets better every year.
Crypto can't be devalued because it's value is regulated by the community that develops and uses it. Who would ever devalue their own currency? The only reason why the Federal Reserve devalues the USD is because they get to spend that new money where ever they want to. Debt-based economies are designed to enslave the population with usurious debt that literally can't be paid back. You vastly underestimate the value of this superior economic system because it is so grossly underdeveloped.
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I'm banking on what you say here.
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conspiracy theories are gr8 read.
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I would definitely stick to my original top 10 (see Top 10 Cryptos you should consider HODLING).
But recently, I've also been attracted to another very interesting project:
Alphacat (ticker: ACAT)
website: https://www.alphacat.io/
By far, they have the best whitepaper I've ever read and the project seems very solid with excellent team members and an outstanding roadmap. Plus, it is dirt cheap at the moment; so you can get a lot of tokens for very little cash/crypto.
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Why is it the best whitepaper?
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It's clear/concise/brief/to-the-point, well written. Plus, in my opinion, in terms of its value proposition and business idea (plus the gaps it fills in the markets) it makes for an excellent venture.
What I like best is that for once they give the "little guy" (investor) an opportunity to do/play what usually only the big investors can.
If they proceed as planned, I see huge potential for growth in the medium to long term.
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Unfortunately this last year has been hard on me, and I have no disposable income. Relocating over the next couple weeks and will probably take me a few months to get re-positioned enough to invest again. By then I believe big money will come in due to the regulations put in place shortly after the July G20 meeting, but will still do so.
I have been powering up myself, as well as I have bought 72 Steem through position trading profits I have sent here (spent 21 of those though to rent delegation). I believe Steem has a good opportunity to moon if the SMT's work out.
I am also a believer in ADA. The project is unique, undervalued in my opinion because they are taking their time and unlike other projects do not seek to fan the monetary side of the project. At the price it is at right now, I believe for investment purposes it offers one of the better returns long term.
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What's so good about ADA?
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I would probably diversify with some actual stock, BTC and then some Ethereum as a hedge (even though I don't really like it).
I won't ever buy STEEM. And more importantly, I don't imagine ever selling (unless it becomes a global sustainable ecosystem) it. I'm starting to view STEEM as social credibility rather than a cryptocurrency since it is imaginary money after all. That way I won't feel bad if it fails.
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Why does Ethereum put you off?
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Most Dapps don't need to be decentralized and the potential bug nightmares with having Turing-complete smart contracts. A very large attack surface. More restricted smart contracts make more sense from a risk perspective and given the available use cases.
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I soooooo wish I had the funds to buy STEEM. If I were more financially secure, I would use bitcoin to buy STEEM, use my sp to buy STEEM, use ANYTHING to buy STEEM, but alas, instead I am turning almost all the sbd I earn into bitcoin, transferring it onto my shift debit card just to survive.
That said I'm clinging onto my SP with all my might. I finally got my slider, and I worked so hard since I joined last August to get here, and it would be extremely painful to have to power it down. I'm not giving it up for the life of me! :)
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Hehe, I understand that ;)
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I am not an Investor but there is nothing wrong in imagining so, if i would have $10000 to invest then for sure majority or let's say $7000 in Steem, $2000 Bitcoin and $1000 dollar in diversified undervalued tokens which backed effective projects and teams and have practical use cases. Steem is my priority because if we invest here then we can mine more Steem through Posting, Commenting and Curating and possibly if price rise then we can get good return and from those returns we can inturn invest other tokens to make an strong and diversified portfolio.
But, i am not an Investor but i am Steem Enthusiast and i am powering up my rewards to hold effective Steem Power. In my opinion Steem holds great future and we are still early adopters so today's effective seeding will manifest in future.
Thanks for sharing this post with us and wishing you an great day. Stay blessed. 🙂
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I would buy some bitcoin, chainlink and some ARK
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I like diversification, so will bay more than one. If i have to chose one, the choice will be bitcoin. I can elaborate a lot of reasons but it is just a matter of respect.
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One should always be overweight on bitcoin while constructing the portfolio. I completely agree with you.
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Yes, that is the overall thinking. Thanks :)
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If I had $10,000?
I'd buy 30/30/30/10 on Bitcoin, STEEM, EOS and BitcoinCash.
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I’ll be having some extra fiat late summer / early fall. As of now, tentative plans for 50% Steem Power, 25% physical silver, 25% other crypto TBD.
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I only had $200 to put in this month, but I put half into BTC and half STEEM. I used a few Steem to buy some Steem Monsters, and powered up the rest. My stake is now double. I am satisfied.
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1/3 Steem(powered up), 1/3 Bitcoin(currently it's the standard), 1/3 EOS(speculation)
I would be really excited if I had $10,000 to put in crypto right now with prices this low. Actually, I might make these purchases over the course of a month or even longer if the price continued to fall. I believe it's going to be a bear summer with a bull run in the fall or winter.
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Interesting. I though the bull run happens in summer, but doesn't seem to be the case. You might be right about the fall ;)
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LOL. Who can predict crypto? HODL, HODL, HODL.
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Coins mentioned in post:
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