Hi all!
I thought it was about time to do the "introduce yourself" blog. Up until now I had written a few articles on Steemit just to test drive and I must say I've really enjoyed the medium so far. After only 8 days Steemit is now locked in as one of my always open browser tabs and who knows maybe one day it can be the driving force to relegate Facebook and Youtube to much lesser importance.
We can only hope right?
Or maybe we can do more than hope. Maybe we can act, early adopt and lead.
Early adoption in the crypto space is awe inspiring. Apart from the obvious riches of those smart nerdy people who got into Bitcoin and crypto early, there is also the really positive outlook that crypto can change the world for the better. The separation of money and the state in the future will be looked back on the way we look at the separation of church and state. Looking back we will see it just as dumb, inept and corrupt and we will wonder why it took so long.
Those who are into crypto will know what I am talking about. For those that don't you should educate yourself on quantitative easing and why governments use this tool and why it hurts you. A good book for starters is "Bitcoin: The Future of Money" by Dominic Frisby.
Anyway I am getting sidetracked, I was supposed to be introducing myself.
I got into crypto at the same time as a few other friends. We were initially inspired by the potential to make money and then also equally inspired by how Bitcoin and crypto can change the world. It only took a matter of days before we were all really passionate about crypto and began spending countless hours each day researching all the coins and tokens trying to work out which ones to invest in. Learning along the way and making plenty of mistakes but also being lucky to join in a time where the market was bubbling up so fast even if you invested in a poor choice it was still extremely likely your coin would go up.
After a while we had several friends begging us to teach them how to invest in this "magical market" but at the same time they were scared of all the technical aspects such as how to buy bitcoin, how to store them, how to trade for other coins and how to pick a good coin. For the average punter in the street this is daunting to the point of either putting them off of investing in crypto or scaring them so much they become overly negative and are sure that you are investing in something not real that will disappear in the future. In crypto we have all heard "Bitcoin isn't backed by anything so it's not real" which in crypto we laugh at because the money in your wallet and bank is also not backed by anything. Research that fact if you don't realize it already.
So a small group of our friends decided to band together and make ourselves a club. Crypto Coin Club we called it and it combined a mix of experienced crypto friends and total newbies to the space. The experienced guys did all the research and presented it to the club and we all decided to invest in the same coins equally.
We started on July 13 2017 and we knew it was bad timing due to the market crashing and the upcoming SegWit for Bitcoin which was creating fear in the market but at the same time we weren't day trading and were picking long term coins. We each bought multiples of 0.07 BTC and called it 1 ticket, with some members buying more tickets than others. Then we picked 5 coins to invest in splitting our investment evenly.
We chose to keep 20% in Bitcoin and then picked SIB, CLOAK, NMR, and ANS with 20% in each of those.
This is the tracker I made to help everyone put their purchases into the blockfolio app.
After this the market dumped which everyone in the crypto scene was predicting so it was no surprise. Over the next few days Bitcoin dropped from $2400 down to find support at $1800 and the total market cap of the alt coins dropped around 30%. Red was everywhere......except for the coins our club had picked. Antshares (ANS) was up and the others were trading either around our buy price or just under.
SIB was one of our value picks and was trading well down on day 1. A Russian coin based on the Dash coin but already with a large community behind it with an incredible number of nodes running on it already for a coin so low on the market cap. SIB then doubled in the next 2 days when Bitcoin and all the other alts were dumping. We saw our opportunity and cashed out half our coins at over double the price. Our strategy here was simple - we are not day traders and do not try and pick the perfect bottom to buy or top to sell, but to be able to protect our investment and lock in more bitcoin seemed like a safe option when Bitcoin was so low. Our SIB coins can now ride for free and we can lock them away for now
So after starting with 5.18 BTC our current portfolio after 7 days is now sitting well placed at 6.09 BTC which we are very happy with considering how last week was for crypto.
So that's where our little club is positioned as of this morning. Thanks to those who bothered to read my blog, I probably rambled on a bit too much!
Would love to see your comments positive or negative, I'll respond to them all.
Happy steeming!