Yep, I've been at it again. The tumbling crypto markets of the past few days didn't stop me, I've only gone and bought something.
I've already declared 2018 my year of accumulating crypto assets, so this week I decided to have a little dabble in a pure speculation play.
As I have spoken about in previous posts, I've been accumulating other tokens such as EOS to try and rebalance my portfolio away from being too bitcoin heavy. I'm pretty happy with progress. According to Coinmarketcap as of today, BTC has 42% market dominance which is roughly it's make up in my little portfolio....so I'm on track there. Over the next few months, I will continue adding to my EOS holdings, but this week I decided to make a start on buying a few highly-speculative positions.
Why highly-speculative?
For the fun! Who doesn't wish to buy a coin at 5 cents and see it soar to to $50?! So I'm going to have a small percentage of the portfolio (way less than 5%) in these fun tokens. Maybe one of them will pay for my Lambo some day.
I'm a fan of Clif High and enjoy his wide ranging talks. You can find his work here: https://www.halfpasthuman.com
He's a bit 'out there', but his work on predictive linguistics makes sense to me. He has bots scouring the internet for changes in people's language and uses this to make predictions. For example: if people start using the word 'Steem' a lot, you could predict that the price will be rising shortly. It was while listening to one of these talks that I heard someone mention Theta Coin, with wild predictions of it reaching enormous heights.
I had a little read of the website, liked what I read, and now I own some at around 14c a token!
Here's the website: https://www.thetatoken.org/
I liked the team behind it, they have some impressive advisors, they already have a profitable esports business, and the product makes sense to me (decentralised video streaming). They also recently had a successful ICO and have an ambitious roadmap.
Current price: 14 cents
Current market cap: $84 million
I post this here as a record... in the future I'll either be gloating,
"see guys, I TOLD you to buy at 14 cents",
or I'll use it to remind myself not to take such risky punts in future!
Disclaimer: This makes up under 1% of my portfolio. I'm aware small caps are inherently more risky.
Another disclaimer: My first share purchase (at 15 or 16 years old) was an engineering firm that went bankrupt a few weeks after I bought the shares!
