Divided my last GRS purchase into 6 equal parts to be offered at scaled prices - short term trading.

Early this morning one went off at .00003380 and another at .00003720.

2/3 the original purchase still on the books.

Hey all, I've been a little more active here the last few days since I've had some extra free time before really getting back to the grind, but I don't want to create any false expectations and I want to be honest with you about this having been an exception.

Hope that all of you who have been following along, perhaps even with real money, and are more senior to the thread can help out more in the future, as I can guarantee you that I will have no ways near the time to answer everything. This has been fun and has come at very timely moment indeed - not only do I enjoy it, but I also learn from it as well - and for as much as I'd like to, it just won't be possible for me to keep up this pace.

I'll try to do my best, and don't worry or wonder why I'm not doing more because now you know.

And with that, it's back to our regularly scheduled programming. 

 

I've broken your questions out and answered them below one by one. I was obviously abbreviating, and for obvious reasons, the foremost of which is that I'm on hobby time, I need to continue to try and be brief.


LTC beat BTC to SegWit implementation, period. That's more innovated by my book. Remember all the talk about BTC watching to see how it worked out for the rest? LTC was one of BTC's guinea pigs? I don't want to get into a shouting match over this, we've all got our opinions, so maybe I should ask you to start by telling us how BTC is more innovative than LTC (which was the comparison). Here's something else that represents the general trend though which I think clearly puts LTC front of BTC in terms of innovation: https://twitter.com/SatoshiLite/status/902631298073747456

Never said that LTC was more undervalued than others either. Said it was the BEST most undervalued, which is not synonymous with most undervalued.


Don't think I even insinuated that LTC has the best development, and I disagree with your top notch development candidates, which I would give to BTS and STEEM hands down, with SYS coming in second. NLG and GRS certainly have good devs doing good things, but my opinion has them running a distant 3rd or 4th, or maybe even 5th and 6th.


That's one of the consequences of that interesting code I alluded to. We'll see if they can work it out. I'm confident they will. I've been following the situation as closely as I can - over 100 pages here on BCT about it, which is a testimony in itself to the strength of that community, one of the three pillars to any successful coin (the other two are price and the coin itself).


GPU only mining makes it one of the few truly available to the masses, as I said above. It's zero handicapped for the average person. That could turn out to be huge. We'll have to wait and see.


They're all extremely undervalued, some more, and some less, but yes, GRS and NLG are examples of the more extreme. They're similar in that they are great candidates to become long shot winners. I've followed both for years and watched their development, which, while being very distinct, has many parallels in that they were both nothing coins that have done quite well in putting on a professional image as well as putting together professional products. Not at the same level as SYS by any means, but they're going in the right direction. NLG is certainly ahead of GRS in this regard, but I've got to recognize that the "kids" at GRS are no slacks. They're both coins with strong regional ties as well, with GRS doing more to stress their global reach and NLG content with carving out a strictly regional identity niche, most likely with clear intentions to use that as a launching pad.

Edit: BTW, how is NLG not decentralized?


Not all that glitters is gold. SegWit is no magic wand. I'm planning to limit my SegWit exposure to less than 25% of the portfolio on the next bull cycle.
https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw

Hope this helps, and do tell my why you think BTC is more innovative than LTC. What am I missing?

Yes.

A little of everything, fundamentals too, not exactly in your order, and hopefully with the gut feelings relegated to a distant last place. 


Seriously, charts are extremely important as it is that they tell you what other market participants are doing. They give me the "heads up", but then I need serious fundamentals to back them up, as well as liquidity and strong indications that those market participants know what they're doing or not by differentiating between technical markets and emotional markets. News is also extremely important, while it's still news, like it is in the "real" world. Gut feelings on the other hand, oh, I don't know, sometimes you research and end up finding out you were right, but I try to never act based on feelings. I don't gamble either. 

Dollar cost averaging is a very valid strategy, especially when you've got a very long term wind to your back. All my best!

That was a tough period (and into the better part of July) and I'd have to say that having a diversified portfolio that was eventually 30-40% hedged was a big help. The less diversified and more exposed you are, the more the psychological problems, I think. That's my case anyway.

The basics underpinnings of the beast itself were also very convincing. One of my first posts on Steemit, The Crypto Boom! Part 1: Keeping Perspective, helped me to get clear on that.  

Glad you found the place! Looking forward to having you around.

And I agree with you about the unnecessary reposting of images (contextual content on the other hand I think is important, but only the pertinent) which is one of the reasons why I post the links under the images - to make it easier to backout the image when quoting.

Again, looking forward to your observations about your foray into this wild world of crypto horse trading! 

Exactly. I only make the distinction with the fact in mind that we were all noobs at some time . . . and to remind myself. 

And I don't think you're overcomplicating in the least, especially considering that Alts as a whole amount to more than 50% of BTC! https://coinmarketcap.com/charts/

BTW, thanks for getting me to look at those charts again . . . it's been a while and I've been meaning to, but seemed to have been getting called away too soon too often. One of the best side effects of this thread: it keeps me on my toes!

Yeah, it is essentially trading, longer term, more specifically, swing trading guided by best practice portfolio management as it were, mainly because I have a day job and don't have the time, but more importantly because I'm a terrible trader. 

But that doesn't mean that day traders can't share their ideas. One thing I'd caution you on though is over trading. I'm sure you're well aware of that, but sometimes you can do much better with a lot less trading - another key aspect about crypto investing/trading that I'm sharing with this thread. 

Best of luck on whatever you decide on. Regardless, patience is the word - take what the market gives you and then take a walk in the park from time to time.

Absolutely correct. BTC is your basis that you trade in and out of. Once you get used to it, it's as natural as trading stocks with USD, for example.

The best part of it is that you're also indirectly invested in BTC. If BTC goes up in dollar terms, then your .12942 BTC example would also be worth the equivalent gain that BTC had (the reverse is also true). For example, let's say that you did that at today's BTC low of 4460 and now you're selling at 4560 (current BTC price) - your .12942 BTC would give you $590.15, a gain of 32.32% on your $446.00 investment instead of the static figure of 29.42%. When BTC runs up by 80%, like it has from its July lows, that is a hefty gain that you benefit from, often just offsetting your Alt BTC losses, but also contributing when the Alt runs higher at the same time - like many did this spring. If you're involved in good Alts, and BTC is in a bull market, it's difficult to lose money, and the possibilities of making a lot of money are good, but, again, as I stress over and over again, those Alts need to be GOOD ONES.

If BTC heads south, they you're playing another game. Years ago, well, really almost until this year in general, there was an inverse relationship between BTC and Alts. That changed dramatically this spring with the huge influx of fiat coming into the space, and I think it's a sea change that's here to stay (baring exceptions like LTC which still looks to be trading inverse in general in spite of having a fairly direct relationship in April and May when it too rose alongside BTC - checkout the second graphic on this post for a side by side comparison https://bitcointalk.org/index.php?topic=1936239.msg20841065#msg20841065 ).

The only thing I would correct with what you said would be to say that you're really "buying" STEEM, and not selling BTC, much like when you buy Apple, for example, we buy AAPL (we don't think of selling USD in that context); when selling BTC, we think of going to fiat, or a fiat equivalent, and then you're out of crypto (either virtually or really) altogether. That's really nitpicking on my part, but little nuances like that can affect the rest of our conceptualizing in a butterfly effect manner, so I mention it, just to be safe.

Value is a perception in auction markets, and LTC is still perceived to be something "less" than what it really is. There's still lots of 2013 thinking out there among participants. Sometimes it takes longer than others for mass psychology and perception to adjust to new realities. While BTC was working okay, there wasn't much a need for big money players to look for something else. That's changing, and with Litecoin doing everything BTC can do and much more, it's only a matter of time until there's a huge revaluation in LTC, in my opinion. The last time BTC sold off, LTC rallied. It was being used as a hedge. LTC will probably be the only "Alt" that I will not sell when BTC starts to sell-off next time. As I've mentioned before, during the last BTC mini-correction, LTC actually went up big. Just look at the update for week 6 to see just how good LTC was for the portfolio during that time.

@everyone_looking_to_get_in

BE PATIENT!

You'll have an opportunity sooner or later to buy in at a very nice price. Now is not the time to be getting involved IMVHO.

I'm not interested in managing other people's money, so scratch that as a possibility. Nevertheless, you can learn how to manage your own, and follow along and participate here with what you're doing, learning, and contemplating. That's the idea here. And forget about the numbers. Let's say my model portfolio starts the next buy cycle with $100,000.00 - you'll be able to easily participate in any multiple you like: $10,000.00, $1,000.00 or even $100.00. The percentage weighting of each component would be a piece of cake to calculate, etc. And if you wanted to invest say $20,000.00 or $2,000.00, well, you'd just double what the $10,000.00 and $1,000.00 figures would be. Do you see how easy it would be to follow along and actively participate as well?

Use the interim to learn as much as you can about crypto, study the history of especially BTC and LTC, research different technologies, look for projects you like, get an account setup with Bittrex, and be ready to act when the time comes. I assure you that it will be one of the most profitable endeavors of your life, but YOU have to do your homework - nobody is going to spoon feed you or do it for you.

You can do it! It's just a matter of putting your mind to it. 

@everyone_looking_for_an_update

READ THE FRICKIN THREAD!

I've been posting weekly updates throughout and posting all the buys and sells in real time (excepting those rare occasions when I was sleeping  ), as well as answering questions, explaining methodology, and sharing ideas and perspectives with other contributors.

No idea. There's been tons of buying and selling since and it would be extremely laborious to make that calculation, not to mention having little to no value in and of itself. Something easier to calculate is growth in BTC itself (which is off its highs as one might imagine), but again, the bottom line is USD - still the world's reserve currency.

Beating the benchmark is definite. In fact, I want to SMASH the benchmark. What that figure will eventually look like is anyone's guess right now, but if we start seeing some major fiat inflation that should be the eventual outcome of worldwide QE, those $300,000 figures for BTC might not be that far fetched. Imagine what smashing that would look like! One million is really a base figure assuming that the USD, EUR, JPY, etc. hold their current values. I don't place very good odds on that. And that brings me back to where I started from: crypto is not only the best investment currently available to mankind, it's also the best hedge against fiat depreciation!

Time is another deal completely. Patience is a virtue here - I strongly believe in taking what the market gives you and never projecting one's own desires. The market will dictate those terms, but I expect that 5 years would be the outside limit for max returns.

Around half is on Bittrex. It’s a good exchange that I can recommend. I’ve never had a problem with them. Most of my LTC is in my own wallet off exchange. STEEM and BTS are also in their own wallets.

The next time I get long (after the correction I think is due) I will be moving as much as possible to their own wallets since I think we'll be looking at a much longer upswing cycle then that could last years.

I'm looking for a top in BTC sometime soon. I expect it to be a process (but I could be wrong) where Alts rally while it tops. If this scenario plays out, I will be selling into strength and converting to BitUSD, SBD and USDT (as I said above). I might take a little to fiat as well, but that would be from my personal account and not the model portfolio, and at most it would be 10%. My main target for BTC is the $5,000 to $5,500 range with a $6,500 high end possibility. I also think we're going to see a hefty correction in world stock markets coinciding. All in all, I think the correction could last for months. My goal is to "give back" as little as possible during that time and be positioned to buy back at 80% discounts. Then we'd start working on the million dollar figure. 

Closed the MCO position.


https://i.imgur.com/WC8I9vG.jpg

It's traded a 20x off of lows, and an approximate 10x of its averaged ICO price. I'm satisfied.

Sold a 1/3 of what was left of MCO overnight for .00585.

1600 bucks are 1600 bucks. 

BTW, in USD terms, MCO was a realized 7x for the portfolio. I could care less if it keeps going higher.    Still got a bit more to sell, and it'll come back down sooner or later.