Why I sold all my Bitcoin for Alt-coins.
The reason I got into crypto is because I want to be rich. I want to pay off the house, buy new cars and go on nice holidays. I want to quit my job and start up a business of my own which will need investment. Ive a feeling many of you are the same.
As soon as a currency rises I cash in for fiat. I’m a gatherer. I will gather up all the info and make a decision and set a target. I see adaption of digital currency in the future but I see a bigger opportunity in blockchain technology right now. Anyway I started off buying crypto around 2 years ago after hearing the usual pizza bitcoin story. Bitcoin was still around 500 quid and Eth was around 20 quid. But guess what! I was too late to the party with these two coins. Yep in 2016 I was too late to the bitcoin party. The most I could hope for in my wildest dreams is 50x return on investment. Okay that’s not gonna make a dent in the mortgage . I needed to start looking at the next batch coming through
. I know some may laugh at me but I started off trading on poloniex. Some say it’s a shit exchange. I thought different. I liked it . All my trades went through no hassle and I could trade on my phone . It had a chat room or troll box. Not only this but the iOS app had chatroom as well. The amount I learnt about every coin in there was absolute gold. These guys were devs. They knew everything that was going on in the space. I thought I knew a lot but I was mistaken. They had inside knowledge about in fighting , who left where , why I should keep my b-cash, how antshares was the golden goose, etc. It reminded me of a famous horse racing trainer near my location. The stable knew what horses were going to run away with the race. At the last minute the workers in the stable would bet and make a killing. It’s no coincidence in my opinion that Charles Lee sold his litecoin while it was at its all time high of $322 . Litecoin is today selling for 52 dollars.
Anyway I’m greedy . I want more. I want the 1000x or the 3000x. So I started looking at the coins that were high risk high reward. Antshares was a given. Lisk was another one. Iota another. I invested small money in them but 3 out of 5 horses came in. Not a bad outcome and a return that btc would never be able to give me . So I go again and again. You could of invested in anything in the bull run last November. My biggest mistake I made Is pulling out too early.(a good complaint 😉) I am on the coin too early and I sell. It happened me with kucoin , ripple and recently poly. And with the bear market everything is paused. So now I am more patient with bags of alts under 20 cent . All I need is one of these to hit ! Just one! So I’m holding until they do. As I said I’m not in it for the 4x .Crypto is not worth the 4x return. I’m in it for the life changer and buying bitcoin at 5 grand a go wont change my life one bit. Charlie Lee said the other day that anyone investing in crypto should have at least 1 bitcoin. It’s easy for him to say after selling his alts! But I disagree. I can convert any time I want plus owning alts adds to the excitement!
Hi blanchy. I agree bitcoin has already done the 1000x gains so only single digits for now. The alts though can still do the 1000 x and it is a matter of choosing one. Unfortunately they are all going down now and I only expect them to rise at the back end of the year. It seems these days that is the only time they are going to pump. I only have a small holding and that is why I am pushing my steem account so much. From my understanding we still have a way to go to bottom out so it is all about growing now.
Yeah you are right . Some way to go yet and I’m not in the mind to throw good money down the drain either but in another way it’s a great time to buy. Steemit is a great coin to be in because you can increase your holding without spending money . You are def right about the bull not coming out until December . Maybe in September if SEC make a decision on security’s.
Asked for an updated chart on Steem. I am not saying if it is right or wrong but keeping an eye on it. Only believe in testing them now while no one knows what is going on. Time will tell if he is right or does an update before it turns.
I love the first sentence...brutally honest
thanks for sharing your experience !
howdy sir blanchy! I like your style and your theory and only one has to hit it big. If that happens what will you do?