✴️ THIS WEEKS "CRYPTO CORRECTION" CHANGED MY THINKING AND MY PORTFOLIO!
Investing is easy, pick a small baskets of good companies with great fundamentals and just "Go All In" ~ Charles Fuchs.
What's Up STACKERS!
What can I say, It has been a very emotional week for many of us in the "Crypto Markets", the markets are currently on a roller coaster ride with lots of ups and downs. 📈📉
Too the seasoned crypto investor, this is just normal for them but for the all "Newbs" who just got in the markets, it's crazy. 🤯
You see... the last few months, a person could of just picked any cryptocurrency and it practically would gained 100% to %1,000 returns without doing anything.
Heck, I even stopped reading "white papers" for a few months and just picked up any cryptocurrency that had a nice logo and I knew it would go up, it was that easy. 🤣
This correction got me thinking and it made me realize something... I stopped being an investor and became more of a "Speculator" and "Gambler" with my money. I have to admit, it was pretty damn easy to make money in 2017 with all these SH💩T Coins.
So I decided to sell most of my portfolio and go "All In" with companies that I see that will be there future of the blockchain. Approximately 90% of money will be invested only in companies are "Protocol" related from now on... In other words, things that will able to run thousands to tens of thousands of DAAPS with tens of thousands of transactions... this is where the money is going to be made in crypto! 💰
Who will lead the foundation of the blockchain in the future, will it be Ethereum, NEO, IOTA, Cardano, Icon, EOS, Qtum, Ark, Steem just to name a few. It can be anyone of these or it can be none of these, a new comer might come out of no where down the road like Tron with "Hyped" Marketing. Only time will tell who will lead the pack...
So what is my "Game Plan?" from now on, I will be dollar cost averaging each one these cryptos weekly. I already have a nice position in all these protocol cryptos and moving forward, I will be picking up more of these each week (on the dips).
Don't get me wrong, I will still invest in other things that I can see do well 3 years down the road such as Bitcoin, Litecoin, and SALT just to name a few. 📆
There is a reason for this, we are to early in the game and mass adoption or "consumer" based things will take years to build and to develop to become profitable. I remember the companies in the 90's who won huge in the dotcom boom were the infrastructure plays such as IBM, Oracle and Sun Micro etc... etc... all the Business to Business Plays.
What do you guys think? Are you just gambling with Speculative cryptos right now based on hype or preparing yourself to have a 10X million dollar portfolio with companies that can change the world.
Keep on "STACKIN" 💰
For those who are interested in following my "Daily Activities" that I do in very "short form". Follow me here: @charles-fuchs.
I can say it is too early to tell.
I feel the smart contract application will stay around and flourish.
Pump and dump will only survive with a high btc price and fees way high.
Wait til lighting network gets out, bitcoin to the moon... if it works 😂
I had to refrain my self from the shitcoin hype, I dabbled a bit but I stayed mostly in the top 10 the entire time.
It was fun trading those coins until they went to Shit haha
Good post
I think finally Bitcoin will be the only standing because it is the ONLY cryptocurrency that is very wel suited as store of value and this can never be replicated by an altcoin.
In my view eventually all altcoins will replaced by 2nd layers of bitcoin because they have the best security for free. HODLers pay the miners already, an alt that has its own blockchain need to pay the miners for a smaller level of security.
Over the long term an own PoW blockchain is simply not efficient (less security for more costs) and PoS will lead to centralization. Beside that with 2nd layers you can use BTC and that is most used and accepted (network effect). 2018 will be the year that the first 2nd layers will be rolled out! (Lightning Network and Rootstock)
Thats why my strategy for a few years already is HODLing 80% in BTC and use the other 20% for picking interesting alts. When the alt made a return of 20 to 50x I sell a part back for BTC, so slowly grow my BTC holdings.
After selling a part simply let it grow to a big stack again and repeat the same. This way you have a relatively steady portfolio and you will always be holding a small amount of interesting alts.
Bitcoin is the grand-daddy G, so there is no way it will lose its spot in the top 3. However, I just don't really see the benefit of holding bitcoins this late in the game. Sure, I got a few, but I wouldn't put all of my investment in it. Call me a traitor, but my hope is in Ethereum and Ripple. We are heading toward a whole new gaming revolution using the Ethereum block-chain and I can see its potential. I can smell it. I can taste it. Ripple, on the other hand, already has banks backing them up and I will milk everything I can from them. My strategy is a bit similar to yours. 80% of my investment is spread out evenly among the top 3 cryptocurrency and the other 20% is in the altcoins that I am interested in (gaming and virtual reality).
I think many people underestimate the potential that BTC still has. Hedgefunds are just started and will bring way more money in. Some later all the extremely rich will go HODL their wealth in this store of value and also central banks and Governments could finally go in. What do you think about international trade / import and export?
There is still HUGE potential for BTC (million per coin = 100 x is possible, will be 3 times the market cap of gold and since the usability is way higher......) and I expect the day will come that every powerful entity on the planet want to own an as big as possible part of the BTC blockchain while the supply is limited......... Alts will be forgotten if this happens.
I think the steem dollar will completely replace and eliminate bitcoin like it is currently on track to do.
https://steemit.com/steem/@mysearchisover/steem-is-beating-bitcoin
Great plan 👌🏽 This market correction also taught me a thing or two!
I know many 50% down on recent BTC buys so don't worry, no-one is pro or safe when the hammer falls!
Learning Lessons this week lol
Biggest trap of them all, same thing happen with stock markets from the 90's to early 2000's it was easy to make money you put it anywhere your stocks where going up and them WHAM!
What happens in crypto land is much faster though with 24/7 trading and worldwide trading its pretty normal to see 2 hour or 2 day corrections.
Bitcoin I am expecting to freakin explode as soon as lighting network is released but of course steem is a good pick as well as SBD lightcoin and ethereum in my book.
Happy investing!
Totally agree, I beleive 2108 is going to be the biggest year yet, just weathers the storm peeps 🙌🏼
Great post. Thank you for sharing the wisdom you got due to this dip. This dip in cryptocurrency market has made a lot of people more careful and conscious about their investments in cryptocurrencies. Which is a good thing.
Remember every bad thing that happens in the world, as some positive aspect to it as well :)
Failure brings wisdom with it :)
You couldn’t even said it better than that! 💪🏼🙌🏼💯
Great thoughts to reflect on buddy. I've done the same with my own portfolio and feel a lot better about it.
There is some really great teams out there and it's exciting to check the projects out!
Have you heard of a coin called Xtrabytes (XBY) if you are looking for an interesting one, maybe give that a little gander and let me know what you think. Very promising for the years to come.
Yeah, that's another one. My thinking is this, the best company won't win but the one with the best community and marketing team will... I wish i had a Crystal Ball lol
100%! Just have to keep up to date the best you can in this game. I think the biggest misconception the newcomers have is that they don't see the coins/tokens as companies like Facebook & Amazon. Companies that required mass adoption from dedicated teams pushing it forward, strong community support and great exposure from the marketing team.
Gamble with 10%. Put some money in coins with rewards for passive income. The rest in steem.
Great advice... it’s like Las Vegas, just want to spend $1000 but then end up ending betting more 😂🤣
I still have some gambling coins but the most skin I have in more solid and developed projects.
I still like privacy coins a lot, especially Monero.
You don't like Lisk?
The correction has showed me a bit, that I am not diversified enough in other assets as crypto and I started to get some precious metals from the crypto gains and planning to continue to increase my bag there month by month.
Lisk is one of them and also stratus, I just didn’t want to list tons of them lol
Silver is always looking good under $20 🙌🏼