As I sit here pondering cryptocurrencies and what the future may hold I can't help but think about my own personal gains.
I'll be honest, at he age of 17 I got into Bitcoin in its infancy. I was using "that famous site" to purchase goods not normally found on the internet. Being almost 5 years sober, I now look back with clear eyes thinking "what were you thinking!"
I remember downloading a bitcoin miner on my moms computer. She had a Mac, which at the time I believed was the most powerful thing in the universe and perfect for btc mining. I was a broke kid and had no idea what I was doing. All I knew was that I could earn money keeping this thing running and I didn't pay the electric bill so screw it.
My interest in cryptocurrency faded as I matured. For many years, I associated BTC only with the "unmentionable site."
Flash forward 8 years and who other than my Mom writes me and says, "thinking about buying Ethereum, what do you know?" I look it up to find out it's merely another traded cryptocurrency that utilizes blockchain tech. This was my holy shit moment. Did blockchain blow up and I had missed out? I felt like the guys who sold his 1% share in Apple.
For 2 months now I've been active in the crypto community and I view all my transactions in crypto as investments in their future. If I can profit along the way so be it but my true purpose is to see mainstream adopt the technology.
But what if I did want to profit? What if I didn't care about the future of this tech and just wanted personal gains? Would betting with the market be the best choice? Surely one coin has to outweigh the others! (one coin to rule them all lol) How would I even go long on all currencies? To my knowledge there are no ETFs for cryptocoins.
What if one were to diversify their portfolio i.e. buy up a bunch of each crypto with market caps of $70M+? With indiviudal coins raising 3500% in 24 hours would this be the move or would you run into liquidity issues?
Listen I'm not a professional trader. I'm not a finance major or a guru in tech. In fact I can barely balance a checkbook! I'm just a guy who is fascinated by all of this and has access to the internet.
Enough of my rant.
Let me know your thoughts!