MP cryptocurrencies' experiment > your input needed

Investing / Cryptocurrencies
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Hi there,

I’m preparing this cryptocurrencies’ experiment with an investment of 1’000 euros.
The goal is for me to get into the thing with some gambling money at stake, in order to see, understand, and report to you how this parallel world evolves.

I plan to buy the following cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Ripple.
I read some articles here and there to help me decide which allocation I should try to get the better performance out of this gambling game. The only thing that sticked with me is the interesting smart contracts’ model of the Ethereum platform where I see a lot of potential.

So I hesitate to go with:

  • 1/3 ETH, and the rest split between the others (BTC/LTC/XRP).
  • Or 1/4 of each

In the end, for such a “small” amount of money, it doesnt’ really matter you may say.
But if one of you have some more informed data that could make this experiment more interesting, please share it with us.

Thanks for any hint!
MP

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There is also Bitcoin Cash (BCH)

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Thanks @Bojack.

Actually, I just reminded myself now that with Coinbase [1] I can only buy BTC / ETH / LTC.
Any advice on other cryptocurrencies is still welcome, but I will limit myself to those 3 at the moment I think.

Cheers,
MP

[1] Will use this platform at first as super simple to setup

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I bought 500€ of ETH and 500€ of IOTA a few months ago.
IOTA promises according to multiple sources (which I outsourced instead of reading everything on my own; lazy).
So there’s another candidate for your shortlist.

And 1000€ is not much to lose, since this is all gambling anyways.
Just go for it and forget about it.
Then set a reminder in 5-10 years to see where you stand (as I did with BTC, which is now 6x more than what I had paid for it back then; minus the fact that I still need to find my password due to “forgetting about it” :smiley:).

Good luck,
D

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I wouldn’t use Coinbase directly, but rather their own exchange (https://www.gdax.com/ - your Coinbase credentials work with GDAX). The fees are much lower.

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I would suggest you go with Bitstamp instead, their fees are much lower than Coinbase. Your idea of BTC, ETH and LTC is good, but I would stay away from Ripple, Bitcoin Cash and other altcoins. BTC, ETH and LTC have a much more solid development team and community than the rest. That’s not to say the rest are worthless, it’s just that these are the “gold standard”.

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Thanks @Mobius!
Can I use funds transferred to Coinbase on GDAX in some way?

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Thanks for your feedback @Alex.
This living experiment is the whole point to gather such infos so I can wrap them up all along my discoveries.

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@dbu indeed that’s the plan to buy-and-forget about it — except that I will nevertheless follow how it goes in order to report to you/readers on the blog.

Good luck to find your password back :stuck_out_tongue_winking_eye:

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Not sure, but I would expect so, they seem to be very closely integrated.

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Sweet idea MP!

I would personally wait until a Fund or better, an ETF, is created. The ideal fund/ETF should include most of the cryptocurrencies, let’s say 20-30.

Even though BTC, ETH and LTC seem to be the most developped network, their market dominance is not protected from outsiders. When it comes to such volatile markets, as cryptocurrencies can be, I think you rather diversify your holdings instead of taking single bets.

At this stage the market is not mature enough to foresee a winner. Nokia was a huge player in the mobile phone market, Kodak as well for cameras…

Nonetheless, I believe in the potential of blockchain technology and would be more than happy to have access to such a fund/ETF,

I am looking forward to reading your posts and see how it turns out for you. Buckle up!

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I would recommend also getting some BCH as it is good to be on both sides of the chain and after the Segwit2 fork fell in the water BCH is back in the race again.

Originally I invested as 40% BTC, 40% ETH and 20% BCH but with the recent market developments it looks more like 50% BTC 25% ETH and 25% BCH, however the portfolio is worth like 2x the invested amount after 2 months (I could of course crash anytime but it is still nice).

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Bitcoin is pushing $11k! @_MP’s experiment is off to a very exciting start! :stuck_out_tongue:

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did you see the latest roller-coasters that happened on cryptos? (interesting to notice was that basically they all behaved in sync, no matter if you had diversified in ETH/BTC/LTC/etc as I did, only DASH was a bit above the lines and some niche ones…) now since today it’s again soaring up since some Bitcoin Futures have been officially presented to be available for ‘normal’ investors this month…

by the way I’m using LYKKE as exchange, it’s a swiss interesting company… they offer nice app for both exchange and wallet with limit orders and margin…

they recently launched also a visa compatible card you can pay with that account, basically you would be able to buy virtually anything with cryptos… in case you’re interested this is my reflink (I’m hoping to get one of the first 1000 available cards and save on initial issuance and shipping costs):

Kr,
tent

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Did you see yesterday? I saw it at 20k! insane…

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20k? What exchange was that?

Anyway, it is insane. You have to be strong and hodl! I imagine it will correct at some point, but you never know! The future markets are supposed to be opened next week (I think). I expect the value to either crash or shoot up like crazy. As you can tell, I’m an expert forecaster.

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I think you may be right :laughing:

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Dman, you were right. So what’s your forcast for next year for BTC? xD

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For the next year, I expect BTC to keep moving sideways, unless it breaks out either upwards or downwards.

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Source: Dude trust me :wink:

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