So this is the percentage I invested my money in cryptocurrencies along with a short discription of each one. In which cryptocurrency do you believe in the most?
Bitcoin - BTC (26%)
I think most people has an idea of what Bitcoin is. Recent price increases have been amazing with the talk and implementation about a soft fork or maybe even a hard fork happening. The Segwit2X has now been locked in which means that the Bitcoin transaction speed will be 4 times faster if most of the miners run this code.
Source: https://www.cryptocompare.com/email-updates/daily/2017/jul/21/
Ethereum - ETH (26%)
Second to Bitcoin i.t.o market cap, Ethereum is vastly different to Bitcoin in economic and technical terms. It is an inflationary currency meaning that unlike Bitcoin it has no upper limit of how many Ether tokens will be produced which sounds a lot like today's fiat money (and all the central banking shenanigans that goes with that) but the value of the Ethereum network lies in its ability to run Smart Contracts and DAPP's (decentralized applications) without any censorship or third party interference. Which means that if you pay the fees, your Smart Contract (coded in Solidity) will execute its code just the way you intended to.
Sidenote: EOS and NEO/Antshares is similar to Ethereum and may even be competition so the future of Ethereum is still uncertain
Litecoin - LTC (21%)
Bitcoin's little brother Litecoin which some people has dubbed the "silver of crypto's" (where Bitcoin is considered to be digital gold). It has very similar traits to Bitcoin in that it also has a fixed supply and uses much of the same tech as Bitcoin but its network is much faster with lower transaction fees than Bitcoin although with the coming changes to Bitcoin it might not remain as attractive.
Ethereum Classic - ETC (13%)
Still running the original Ethereum blockchain, ETC is basically the same as Ethereum except that some of its tokens was stolen at the Ethereum ICO in 2014, which led to the Ethereum hard fork and the new ETH token's blockchain.
The rest of my portfolio is made up of small percentages of coins which was mainly speculative buys but the idea behind some of the coins sounds promising.
MaidSafe - MAID (7%) and Golem -GNT (1%) kind of works the same way in that both decentralizes the internet, which sounds a lot like what Richard is aiming to do in Silicon Valley (such a great show haha). MaidSafe will soon be converted on a 1:1 basis for SAFE coin and it rewards you for lending out storage space on your PC to the network which is a pretty cool idea.
Golem is essentially a decentralized supercomputer which anybody can use. So almost like with MaidSafe where you rent out you storage space to the network, with Golem you rent out some of your processing power to the network. This enables people to execute tasks like say large machine learning computations on the Golem network without owning the processing power yourself.
NEM -XEM (2%)
The New Economy Movement is different than a lot of crypto's in that all of their coins is 'premined' (supply of 9 billion coins) but there is still incentive for miners (running of nodes which verifies transactions) in the form of harvesting (I don't really know how that works but yeah).
The cool thing about NEM is that its transaction fees are super low (0.01%) and the network can process 3000 transactions per second. That is 800 times faster than Bitcoin at the moment! When Bitcoin hard forks there may be some changes to make it faster but for now it is relatively slow.
Burst - BURST (2%) and DogeCoin - DOGE (2%)
To be honest I have no idea what these two coins are about really. I basically watched some videos on youtube and got hyped to buy them. So these two I am purely speculating on and I am fully prepared to lose the money I invested (luckily it is not that much).
Please feel free to share you own experiences in cryptocurrency investing below and which coins you believe in!
