Portfolio Update - 6/8/2018

I'm going to reiterate my statement from my original update before I get going.

Before I dive in, I had a thought. Steemit is a large enough community that as a whole our knowledge of cryptocurrencies would be quite vast. However, individually we all have areas where we are lacking. I think there is some level of convergence of ideas that comes with a platform like this, but for the most part, we by and large don't know quite where everyone stands on portfolio based decisions. There are several reasons why some people might be skeptical about sharing their portfolio (in percentages, not dollar amounts). Perhaps they're worried they'll be criticized on some choices. Perhaps they feel there is some advantage to seeing how something plays out before others catch on (although, if you have money in something you probably want others to buy it too right?), but sometimes tremendous results come from collaboration. I'm starting to provide my portfolio to the community in hopes of promoting conversation about wise investment strategies and would encourage others to do the same. The more ideas are out there being discussed on this platform, the better equipped we all are to position ourselves for success. I'd love to see some others post their portfolio ideas and comment to discuss mine, just food for thought!

That being said, here we go! I've updated my portfolio and have a few thoughts to share regarding moves I've made. Below you can find some more information on what moves were made and why. In summation, I've been cutting down on ETH to make way for the introduction of EOS and the reintroduction of LTC into my portfolio and to expand my BTC/ADA/XRP/XLM position a little more. Along with that came some shifts in percentages based on price fluctuations that are to be expected. Some notable differences from last time, Clearcoin had a hack that tanked the price. Their team is working on a new fork of the coin from before the hack, you can read about that here. I'm not sure if we'll be seeing it back in my portfolio, I still own the coins but they're not worth enough to be at or close to 1% of my portfolio anymore, hopefully their XCLR token release will make up for the loss. Monero's price did not respond the way I had hoped which is why that slice of the pie is smaller, however, I'm not selling my Monero as I'm quite a fan of that coin. Also, the On.Live ICO completed and the coin is now listed on an exchange so I'm able to add it to my portfolio.

Crypto Investments Expanded

BTC
I've moved more into Bitcoin simply because I feel I better understand the likely price movement of Bitcoin. I know to keep an eye out for price action that could potentially bring us downwards to the $6k range, but the longer we can stay above $7,500 the more bullish it's starting to look. If we close decisively below $7,500 I'll start filtering some of my BTC into Tether where I'll either ladder back in throughout the $6k's or when we close above $7,500 again. I'd rather risk a tiny trim around $7,500 than risk holding all the way to $6k at this point. Another thing to take note of, on the 1 day chart, the 7 period moving average and the 30 period moving average look like they're headed towards each other. It would be a bullish sign if they were to cross. I don't have a specific sell price in mind if the price goes up. I'll have to evaluate that closer as it happens to see where the bulls start gassing out.

Cardano
I suppose it makes sense to elaborate on why I've cut back on ETH, and part of the reason is I want to diversify into other smart contract projects a little more. This is why I've both expanded my Cardano (ADA) holdings and grabbed a stake of EOS. The thing that's been bothering me about being largely in ETH for the smart contract space, is the transaction processing limitations of the current implementation of ETH. I just feel like whenever I need to move ETH around I'm paying higher fees than I'd like and it's taking longer than I'd like. I'm not saying I dislike the coin or the project, I'm simply diversifying and keeping an eye on it. Some of the developments they're working on could potentially drag me back in to a bigger position again.

ADA is a project I've wanted to have more stake in from the beginning, I think it's certainly a contender for the future of the smart contracts space. I also liked the prices it could be accumulated at compared to other coins. On the ADA/USD calculated view, you can see that during it's drop after the last big bull run, it did go down to retest it's lowest high since being listed on Binance at around $0.14 on three occasions. Compared to it's potential upside, it's not far from that marker at around $0.20 at the moment. My best estimation is that the downside is much smaller than the upside on ADA at the moment which is why I've expanded my position.

Stellar Lumens
In both of my previous posts, I've mentioned wanting to expand my position a bit here but I just hadn't gotten around to it yet. I finally added enough so it would be relevant in my portfolio again. I don't have any exceptional and compelling reason why I added it when I did, other than it having a minor dip that I could buy into recently.

New Holdings

On.Live
The On.Live ICO completed and ONL has been listed on Livecoin. On.Live looks to provide a blockchain solution for video based content providers. Feel free to check out this article I wrote a few months ago for an @originalworks writing contest for more information on the project. The price did not perform well out the gate and even dropped to around 0.00001 BTC for a while. However, they did have some opportunities through airdrops/bounties to get free tokens that I presume were dumped and they're also only one one exchange and working on getting into some bigger exchanges. Another factor that many may not have evaluated is that they burned unsold tokens and the circulating supply is around 59 million instead of the 111 million listed on their website. I see this growing a lot as it gets on more exchanges and gets listed on CoinMarketCap and more people know it even exists.

EOS
Two real reasons for me buying in now. One reason is I simply wanted to expand into another smart contract coin and EOS seemed the most compelling to me. The other reason is the ongoing launch of the EOS mainnet. I'm super pumped and if it goes smoothly, the EOS coin will also be super pumped!

Small Holdings - Not Shown

These holdings have become so minuscule that I did not include them on the pie chart, but I do have small holdings in these currencies.

Tron
Nano
ClearCoin (CLR or soon to be XCLR)
AppCoins (APPC)
ZClassic (ZCL)
Bitcoin Private (BTCP)

ICO's

I believe extreme caution is warranted when investing in ICO's. At this time, here's the two that I've gone out of my way to invest some money in that are not yet on an exchange. I don't have any money invested into any live ICO's at the moment, although I am participating in the airdrop for qiibee and keeping an eye on this project for their soon to begin crowdsale. I'll update in another post with more information if I move forward with this project.

Alttex
Alttex is a decentralized exchange, multi-currency wallet, and messenger/market all in one solution for mobile phones and app powered devices. The major appeal here is that it offers an easy all-in-one solution that you could actually show your non-crypto investing friends to show them an easy way to join us in the space. If one of the biggest hurdles for crypto is mainstream adoption, then Alttex has potential to blow up big time! Their ICO has completed and exchanges will be listed any day. The tokens may be trade-able on some decentralized exchanges already as I believe the tokens have been distributed/unlocked. Here's a link to a previous post I published with more information on this ICO.

Appics
Lots of information out there on this future SMT launch from the STEEM blockchain. This ICO has completed but they do still have some bounty/airdrop campaigns going on. I've been hoping for a Facebook replacement for a long time and hope they're able to live up to their potential. I created this post about the project for more information. Also, here's a video from their team:

Previous Portfolios

4/12/2018

3/12/2018

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Bitcoin (BTC): 15r2ktpJ8Tkw3MDc5GUmYEZBbBWSdv4r9p
Ethereum (ETH): 0x290a784EA092DDB9e665Bc8268eE242b3Fc269D1
Litecoin (LTC): LPJLDRqP9TdCPyQxPWuFbSFUi3ZJmAgrHK

Disclaimer: I'm not a financial adviser. I'm a 28 year old dude that works full time doing something mostly unrelated to finance and investing. I'm also not your parent/guardian and you're (probably) an adult, make your own decisions and don't blame me if you lose money. If you make a bunch of money based on something you read here, I totally contributed to that though. You're welcome!