$100 of each top 7 Cryptocurrency on 1st January 2016. Where are they now??
Most Steemit users are very familiar with the exciting world of cryptocurrencies but often find it difficult to explain to friends the huge implications and profitability of investing in such a radical and new industry. In trying to devise the best way to demonstrate the potential for gains I thought it would be interesting to look back at 2016 and see what would happen if we invested $100 in each of the top 7 cryptocurrencies ...... and heres what I found
January 1st 2016
Bitcoin $100 invested buys 0.24 of a coin
Ethereum $100 invested buys me 35 coins
Ripple $100 invested buys me 16212 coins
Litecoin $100 invested buys 29 coins
Monero $100 invested buys me 223 coins
Ethereum Classic $100 invested buys me 172 coins
Dash $100 invested buys me 38 coins
Total $700
Ok so thats $ 700 of hard earned fiat toilet paper invested ....... lets fast forward one year and see how our investment is paying off ....
January 1st 2017
Bitcoin ... 0.24 is now worth $220
Ethereum ... 35 coins are now worth $256
Ripple ... 16212 coins are now worth $102
Litecoin ... 29 coins are now worth $127
Monero ... 223 coins are now worth $2315
Ethereum Classic ... 172 coins are now worth $181
Dash ... 38 coins are now worth $367
Total $3,568
So in one year a $700 investment returns $3568 thats over 500% proving crypto to be one of the worlds best performing assets in 2016.
Lets not finish there though , we all know that 2017 has seen huge gains and this year looks like the real launch pad for the industry so lets check on our initial investment 5 months into this year. So this is $700 invested and a time period as of today of 17 months .......
May 24th 2017
Bitcoin ... 0.24 is now worth $572
Ethereum ... 35 coins are now worth $6670
Ripple ... 16212 coins are now worth $5715
Litecoin ... 29 coins are now worth $994
Monero ... 223 coins are now worth $12242
Ethereum Classic ... 172 coins are now worth $2536
Dash ... 38 coins are now worth $5650
Total $34,378
Well there you go the figures speak for themselves , thats nearly a 5000% increase in under a year and a half and its only just begun. There are still plenty of lower priced coins with the potential to increase exponentially as well as the overall trend for all crypto being overwhelmingly up, Bitcoin continues to reach all time highs as does Dash and Ethereum and Zcash and Monero ...... Who knows what is to come but what I can say assuredly is if you havnt invested at least a small amount in these technologies as little as $700 then you are potentially missing out on a once in a lifetime opportunity. Be smart jump on the rocket now or youll miss the trip to the moon.
Thank you for the info! Always wondered how much it'll be worth if we went back in time and fast forwarded to rpesent time.
All we need is a DeLorean ride back to 2011 and few thousand bitcoin ;)
I like this. Gives a more solid view as to what is going on.
I've used Steem to buy Dash & Ethereum.
Steem I have earned from Posting.
So for me, it's a win win situation.
I also like the look of Monero, so I may go for some of that.
I am only looking at Cryptocurrencies that are being used as a tool.
I have no interest in the Pump & Dump Alt-Coins.
I believe Dash, Monero and Ethereum will survive the big shake out that will come eventually.
Bitcoin is above all that and will sail on into the future as the Granddaddy of them all. It's Digital Gold.
Thanks for sharing.
I agree completely , I have dash and Monero is my personal favourite, I think these anonymous coins offer something tangible .... I also beleive Etherium will take Bitcoins place eventually especially in the second half of this year as bitcoin faces several challenges .... thanks for commenting ill follow you for future updates on your strategy
I don't think there will be a coin that will outweigh bitcoin.
Thanks for your comment , Im not so sure I agree .... I think like with any industry eventually the leader can be challenged by more competitive technologies , but we will see.
Bitcoin is the only real crypto that has the real anonymity in it. Even not knowing who created it is the best part of it. All the altcoins pumping out are just looking for a way to make lots of money. Why in the world do the creators of ripple keep 25billion for themself. So when ripple reaches the current price for bitcoin, they will be holding about 50,000,000,000,000$$ does that make any sense.
I agree to an extent but what you did there was compare bitcoin to Ripple , everyone knows that Ripple is a central bank coin and that it has no built in scarcity , to say bitcoin is the only real crypto is to discredit alot of genuine and interesting startups like Dash or Monero or PIVX .... like anything in life the answer isn't black or white , Bitcoin Good, Altcoins Bad ..... its in the grey areas.
I agree with you to an extent.
Someone promoted your post. Promotions help every steemians.
Your reward is an upvote and 0.277 SBD extra promotion.
Good job, see you next time in
Promoted! ;)Thks for the analysis, i can use it to show the performance of crypto-currencies.
Glad to be of help, Ill be posting further analysis so follow me :)
That is super interesting to know. And although we can wish we shouldve, wouldve or couldve - Theres no better time like the present.
Nice post @gamma-rat ☺️ Have upvoted, resteemed ya and given you a follow. Look forward to more of your posts.
Thank you very much ill follow you back
@gamma-rat Interesting/Insightful informational post. Thank You
UpVoted, Following, Resteemed... please consider following me. Thanks again !!
Thanks for the positive comments @sacred-agent ..... I've followed you also
@gamma-rat Thanks... Have a Great Week !!
That is very interesting to see. Wish I would of done the same but i'm terrible at holding. I am doing it now though. This deserves more up votes!!
What do you think I should do. I have 1,000 usd. Should I buy BTC and hold. or should I put 100$ in the top 10 coins on coin market cap? https://coinmarketcap.com/
Research and invest in the coins that you think have technical and practical merit. Market cap is not a measure of a currency's value but more a measure of the quantity of coins that were pre-mined by its creators. Also I would not trust nor invest in any coins that can't be openly mined by the community. That goes against the empowerment of people through decentralization.
I try Invest in something I believe in...definitely makes it easier to hold
You made a killing!
I wish .... I didn't actually do this its just a "what if" scenario to demonstrate the opportunity crypto provides presently
Interesting that Monero was the best performing.
Im not an expert but I think Monero performed well last year especially in China as regulations tightened it was best placed to provide anonimity.
I see, that may mean that it continues to do well.
This is pretty incredible but this sounds false:
Ripple ... 16212 coins are now worth $16212.Ripple is currently traded at $0.352486 each.
Which make a total of $5715 for Ripple and $34378 for the whole investment.
Thanks for the correction , late night last night ... well spotted ill edit it now, doesnt take away from the overall point though sure you agree?
For sure, this is amazing.
nice...upvote and resteem for you
Thankyou very much
u r welcome...