Selling Ether. Taking Profit from my longest Hodl.
While writing this I'm busy trying to sync my Ethereum wallet. I made the awful mistake of not opening the wallet for a while and now I have to sync it. It's been at it for hours. It's so slow.
The first time I used Ethereum I thought it was amazing compared to Bitcoin. 15 second block times vs 10 minutes if I remember correctly. Of course, all you could do with it was send Ether from a to b. But it was cool, fast and fresh and I liked it.
I used to read all I could about Ethereum on their Reddit and was in awe of the tremendous potential this tech would have in the future.
My treat tonight. Bourbon barrel aged barley wine-ish 12.4% extra strong beer, O yeah
I'm still in awe of the tremendous potential it has and I can't be the only one because the price has shot up like a rocket.
According to Coinbase 3,000% in 2017.
Wow, that's a lot of gains.
But why? That's a question I'm trying to find an answer too. And I can't find a clear answer and it is starting to worry me a little bit.
There seems to be a lot riding here on future promises.
Lightning network, sharding, POS. Let alone all the ICO's that are hoping for an Ethereum network that can make this happen.
All of this is perfectly fine for investing at $5 Ether but at $368, you will need to have some serious balls hoping they can make this work.
I, therefore, feel that it's overpriced (currently) until more becomes clear. I'm selling a part of my holdings. My balls have been stretched to the max hodling this long and need some relieve.
If FOMO is a term than I think FOLE should be one too. Fear of Losing Everything. That's what I'm suffering from at the moment and it started today out of nowhere. It's my gut feeling. I tend to lissen to it.
I don't suffer from FOLE when it comes to STEEM because I can see where it's going in the future. It's also already working perfectly and it can scale. I also like the business model if there is such a thing without an owner :) It's also only around $2 per STEEM wich is not extreme at all in my mind.
There has been one thing I wanted to buy for a very long time but never allowed myself to buy because most of my earning after bills and living costs went into crypto.
I also think buying consumer goods is an awful idea from an investors point of view because these goods usually go down in value pretty fast but the thing I want to buy should last for 30 years.
It's called a Green Egg. If you know my blog you know how much I like grilling and this is the Rolls Royce of home grilling. Slow-roasted Pulled pork and ribs, awesome steak, pizza. I can see myself already there this summer with a nice Barrel aged beer to go alongside it.
Cheers!
Follow Me @exyle
I still hold some eth, but I sold quite a bit in the last few week. Didn't feel too good missing out on the latest pump, but I am reminded that the gold rush will have to end someday.
Like you, I am also feeling nervous of how many icos and tokens are dependent on the platform. One major scandal, from any of these, can set a boatload of investments back many months.
I agree with you @gigafart (wow, what a name!!!!) . Diversification is the key due to the volatility of cryptocurrencies
We share the same feelings. It just felt like the time to take some out. All the support Ethereum has is great but in the end, it needs to work perfectly. It can go either way. Looking forward to finding out :)
Ethereum "lost me" with the DAO hard fork. I sold it all and I don't care that the price went up. I like Dash and Steem. That's it.
I feel you, man. After the DOA I've been very reluctant to invest in any ICO on Ethereum. But I'm glad I stuck with it. I just logged into Kraken to see how much my first buy was. 10 eth for 23 euros. The regret feelings of not buying more are real...lol
You must be happy with the recent Dash rise! I think it's smart to invest in what feels right. Dash doesn't speak to me but at least we can share STEEM feelings :)
I'm so glad you profited from Eth! Way to go. Yes, I'm happy with Dash. I'm like you: do what feels right! Steem on bro! 😎
One such reason could be, when Putin met with Ethereum founder Vitalik Buterin to create National Virtual Currency and backed Ethereum to take over Bitcoin.. Ethereum market cap is edging close to Bitcoin... If russian and japenese invest in Ethereum, they can surpass Bitcoin's market cap very soon.
It still needs to work in the end. That's my doubt. If they can do it that would be great and I'm all for it :)
I think the same! https://steemit.com/ethereum/@spainman/putin-says-yesss-but
FOLE.... I feel like that, too :)
Always nice to read I'm not the only one.
I definitely understand how you feel about eth, as I feel the same way. A lot of promises, but at the end of the day it all boils down to one thing, "does the platform really work?"
Steemit is just getting started and is steadily growing organically. HF 19 should help this growth as more noobs will see quicker returns which will incentivize them to stay and spread the word.
Congrats on the Green Egg! As a fellow grilling enthusiast, I'm a little jealous. :)
This is key. STEEM works. it works whether the price is $0 or $10. and at $2 I feel the price is right too.
FOLE is legit. :)
True that.
The Green Egg is totally worth treating yourself too. I've wanted one for years. The part where you can make pizza on it is what sold me. Congrats on your gains!
so how do yall feel about bitshares?
I like it. Same tech as STEEM.
makes sense. I was thinking about some of this same stuff today - would like to blog it maybe later today if i have time.
Good anylsis @exyle all these altcoin are voliatile and might crash leading to huges losses. Do not ever lay your eggs in one basket , diversification is the key to success. Good to take out some gains in order to be on the safe side.