I joined the bitcoin pub because of @peter and I are good friends. Although my thoughts may seem biased, he did not ask me to write this post nor does he even know i am writing it. Due to my affiliation with Peter, I get asked about cryptocurrencies on a daily basis and whenever there is Mainstream FUD, my phone goes crazy with panicking investors. I thought I’d put my thoughts in a post, as most people I encounter, I send them to the Pub.
I bought my first bitcoin in June 2017… because Peter told me to. He walked me through Coinbase, and sent me his $10 referral fee. (which was .003365 BTC ~ $45 USD now) I knew nothing about cryptocurrencies at the time, and just did it to do it. I have since them spent a lot of time lurking around the forums, and trying to do my own research.
Quick background timeline:
prior to 2017, most of my investments were in stocks. I have holdings in things like Nike, Apple, Alibaba… yawn
since buying my first bitcoin, I have not put another dollar into the traditional stock market. (other than existing funds that have automatic debits). diversification of risk is the best bet for long term gains.
I spent June 2017 - Nov 2017 accumulating Bitcoin. From Thanksgiving - ytd I’ve used my bitcoin gains to invest in the Alts market.
Upon my own research, I felt the biggest/safest growth was in platforms, and my current portfolio mimics as such. ie: ICX, EOS, XLM, NEO are my favorite hodls.
I am by no means a whale like Peter…but i have had many successful investments in the past, and consider myself a “smart investor” - definitely not a moon chaser. I also have a high appetite for risk and find great comfort in this speculative space.
The obvious answers are “moon” and “when lambo”. My reasons are a little more personal.
Bitcoin is the ultimate “oh shit” fund. I’m talking crash of US economy/end of world type scenario. If something catastrophic were ever to happen, I know that Bitcoin will give me the opportunity to start over or reset. I consider it the ultimate storage of value, and feel safer now that I’m slowly building my future war chest.
Blockchain is the future. I think everyone here can agree on that. I was fed up with the current state of technology and finance and I want to support/invest in this new disruptive technology. I see a huge transfer of wealth in the near future, and I definitely do not want to be left behind.
My 2 cents (or more)
Cryptocurrencies are currently is the ultimate game of the minds. We all have access to the same information. We trade and make moves based on the same info. At the end , there will be winners and losers. When i look at my portfolio, I get immediate flashbacks to when i spent a lot of time online researching for fantasy sports. As a former avid poker player, I invest using similar strategies. “TIght Aggressive” Cant’ chase every draw. Wait for your opportunity and put in your chips when it matters.
FUD and FOMO - dont chase the news and the pumps. We all know someone who made a ton of money recently getting lucky on certain coins. This is not a great long term strategy. At the end of this boom, which will eventually come and prices will normalize, the ones who had solid long term strategies will be the ones that are successful. Get to know what your’re investing in. Most of the pumps are on coins that have great ideas, but no actual product. Investors are smart, and the money will eventually all move back to the coins that have intrinsic value to society. Read the white papers and road maps. If you are not comfortable holding a certain coin until it hits real milestones, dont waste your time. You could potentially be waiting years, and in which case, someone can easily come and do it better.
Future Predictions and Hypothesis
Don’t expect the same trading volume out of Korea once the regulations come into place. Most of that money is Chinese money that was trading under anonymous accounts. Korea as a country is not as wealthy as people think, and most 95% of its population live in immense debt. I am Korean, and go back to the country once or twice a year
Chinese platforms will take off. We’ve already seen it in NEO. Once China regulates the market (which will happen), they will be the world leader in Crypto once again. Its a matter of when, not if. The Chinese move slowly and are a very patient people. They will let the other Asian countries work out the kinks, and when they feel it is ready, will implement at a greater scale. i do a lot of business in China, and have been for almost a decade
By the US gov’t taxing crypto trades, it is essentially their way of giving it their blessing/approval. Think Marijuana. “Pay your taxes, and we’ll let it ride.” I know here in the states, there are many ICO opportunities we’ve been boxed out of. Dont sleep on the US based ICOs. I know that the buy-ins tend to be higher, and the accredited investor profiles are PITB, but I think they may have huge value. If you are in a position to do so, get your financial and net worth profiles ready, because the US ICOs will require them. I run my business in the states. Rules of the game are always skewed to help the rich get richer
Peter, thebitcoin.pub, Decentralized TV, and everything else this team is putting out there has been great for my learning. There are countless youtubes, forums, communites, chat etc regarding cryptocurrency at the moment. It’s almost imposeble to know who to trust. It truly is the wild wild west. This forum is my number 1 resource and I wanted to give a special thank you to the entire community.
If your goal in cryptocurrency is “when lambo”, trust me, its not going to end well for you. Just because there is a potential shift in wealth doesn’t mean long term business strategies do not apply. Hard work, patience and smart decision making is still king. Lambo is just its reward.
Thanks for reading. Ask me anything!
and feel free to follow me on IG. I do reply to most comments and messages.
and for those that read this and are bored, heres some car porn =)