Updated Blockfolio and Coin Analysis

in #cryptocurrency7 years ago

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I believe I have finally gotten into all of the coins I fully understand and wanted to share my ideas and analysis of each coin in case some of you don't know about any of them

Monero


Probably my most profitable investment by far. This was the coin I saw last year as the most profitable coin to mine. At the time, I was a noob who was only after mining profits and didn't fully understand the technology. I just saw it as a way to make a small amount each day. Little did I know the price would skyrocket and I made 2X the amount of my GPU. Through time, I actually did a good amount of research in Monero and saw it as something that could be huge. The key to buying any coin is making sure you understand the coins purpose. Otherwise you're blindly throwing money away. Monero has become my favorite coin and technology because it's the platform people think Bitcoin is. Being anonymous. Monero actually IS anonymous and has gained popularity lately after recent hacks have had money funneled through Monero rather than any other coin. I stopped mining it a few months ago as it became less profitable for me, but I'm still holding on to all of it.

Ethereum


I jumped on the hype with this one. I bought in around $35 and I limit myself to only about $100 for initial investments. Yes, the regret of "I should've bought more" hits me every day, but 3.34 Ethereum is better than 0. For anyone curious about getting in, now would be a good time before Metropolis hits. Metropolis is Ethereum's new hard fork that will change from PoW to PoS, rendering mining useless for the largest ecosystem. As a price reminder, when Ethereum went from Frontier to Homestead, the price jumped from $12 to $30. Now that Ethereum has gotten a lot more attention since then, I see another 100% increase at least.

NEO


NEO is the rebranded version of Antshares. They are a distributed network built in China with a strong competition against Ethereum. They aren't as widely adopted yet, but potential is huge for long-term growth. I was following Antshares for a while without buying any as I wanted to really understand this technology before buying it. Then I saw that they were rebranding. After the rebrand, I bought in right away around $10. I noticed the NEON wallet didn't need to sync with the blockchain and I could earn dividends in GAS just by holding. With only 9 NEO, that equates to about 1 NEO a year. So not very profitable, but almost 10% returns each year isn't bad if you compare it to traditional bank accounts.

Bitcoin


This one doesn't really need an explanation as to why I'm holding as everyone should own at least some. I earned this amount of Bitcoin by transferring my STEEM to BTC.

ARK


This was an impulse buy after looking at their tech in one afternoon. Seeing the roadmap and how much they are working on was crazy. I bought in a few weeks before the ACES smartbridge went live and what a ride it has been. ARK doesn't market their coin because they want the technology to speak for itself and I agree. There's no need to create a massive hype on Twitter or Reddit for this coin because anyone that does a little research into their mission and current projects will see this as a very good investment. ARK was also the first coin to teach me about DPOS (Delegated Proof of Stake). With DPOS, you vote for a delegate that you see as a strong member in the community. The top 51 ARK delegates forge blocks (not the same as mining) and you earn a percentage of their earnings. Different delegates have different payment percentages, so you have to read their proposals and figure out which one you like the most. You can still vote for delegates that aren't in the top 51, but you won't earn dividends because they can't forge blocks. The reasoning behind that is to help them, not yourself. It takes a lot of work and community cooperation to be voted into the top 51. ARK is also the first coin that I am actively involved in daily. I'm a part of their slack channel, I'm on the subreddit daily, I've joined the forums, but I haven't become a delegate yet. To register as a delegate, it costs 25 ARK. I only own 54 at the moment and I don't have enough time to sell half my investment to try and join the top 51. I do run a node though on my VPS and you can check out my status at arkstats.net.

Lisk


Lisk is the holy grail of developing DAPPs. Their mission is to make entry into Blockchain development as simple as possible. They're whole platform is built off of JavaScript and since almost every developer knows at least a small amount, it'll make developing applications much easier. They have some projects on their GitHub already, but you can't really develop much because their SDK hasn't released yet. It's schedule for Q4 of this year so it's close. With the SDK, they're saying even if you don't have a development background, they have the tools to get you started. I'm very excited as I'm taking a courses on web development and software engineering right now, so I understand the basics of development and JavaScript already. Once this SDK is released, I'll be able to hone my basic skills and maybe create something for my Senior project. They also use DPOS but instead of the top 51 forging blocks, Lisk allows the top 101 and you can vote for more than 1 delegate. But each vote costs 1 Lisk, so choose wisely.

Siacoin


Not my best investment, but I have hopes. I had bought in at $0.012, so I've lost a lot, but I own so much that it'd be better to wait it out and see how their project comes along. Their platform is a decentralized cloud storage solution that will compete with Azure, AWS, and Dropbox. It's a small team out of Boston, MA so development isn't as quick, but they are still working hard which I appreciate.

I don't plan on selling any part of my portfolio anytime soon. These are all long-term projects that still have a long ways to go and I'm glad to join in on the ride.
Share your portfolio as well! I'm curious to see what projects everyone else has high hopes for.

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Good post. I like your choices, they would be close enough to what i am holding as well.

Good post thanks

Thats cool..,. I'll follow u man.....helpful post....

Follow me at @sam.hasan

Thank you for sharing!

How would you compare the privacy features of Monero with those of ZCash? Do you think Monero offers better privacy?

I honestly never looked into ZCash. No reason why. Monero was just the first one I saw at the time so I stuck with it.

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