What’s up crypto king-pen?
I hope you’ve been having a great week thus far. I’m here to finally… bring you an update on how my cryptocurrency investing has been going and a few coins on the market you should be looking into if you’d like to see some serious gains in your crypto coming into the New Year. Also, though the plan was to originally tell you all how much I was investing in each coin, I’ve realized how bad of an idea that is, so now I will instead be naming the coin, mentioning what percentage of my portfolio the coin is, and giving you updates when changes are made. Okay, all that being said, let’s get started.
I’ve recently added to my portfolio OmiseGo, Neo, Free Gas (I’ll explain), Monero, and Steem. I cut my losses and sold off my initial investment of $150 Bitcoin Cash. I know a lot more about the crypto universe now than I did when I first invested in Bitcoin cash. This loss will not slow me down. I liquidated the Bitcoin Cash into USD tether and purchased the previously mentioned coins. I’m not fully giving up on Bitcoin Cash as a technology, and a positive fork of Bitcoin, but just momentarily as a trading option. Something you must understand is that there is trading cryptocurrency (buy low, sell high) and there is buying cryptocurrency because you believe in the philosophy behind the technology and you would like to expand on the innovation that that new coin is proposing. Bitcoin Cash truly has a great innovative team behind them, and has a good chance of getting back to the price I bought some at, but I don’t see this happening any time soon and there are a lot of other coins I see scaling quicker with white papers documenting their plan for doing so. That brings me to the two coins I’m HODL’ing right now that I’m the most excited to see flourish:
OmiseGo (OMG) and NEO.
Big news for OMG this week! Omise, the parent company of OmiseGo just formed an official partnership with McDonalds Thailand. Meaning, you can go to any McDonalds in Thailand (Idk how many there are…) and buy a milkshake and fries with the OmiseGo coin.
The reason this crypto is gaining such popularity is that not only do they have two absolute power houses on their board of directors, Vitalik Buterin (Ethereum Founder) and Joseph Poon (creator of the lightning network) but also, they are an Ethereum based financial technology with the purpose and slogan of “Banking the Unbanked.”
Omise, the parent company of OmiseGo, is highly respected in the Asian finance world, having their headquarters in Thailand, and offices in Singapore and Japan. Things are looking great for this company, and I can see this coin evening out at a good 20-25 by the end of the month (hopefully) within the next few months with all the pieces in motion. The coin is currently at $10.02 per OMG (omgggggg beckyyyyy!) Astonishing. To think, literally, the beginning of Aug 2017 the coin was at $1.23.
The coin I’ve noticed many crypto investors on Youtube, Slack, Quora, and Reddit are fully bought in on is NEO. No, not NEO from the matrix but the network based in Asia that the crypto community is calling the Ethereum of China.
Image result for keanu reeves confused
NEO is similar to Ethereum in that it makes use of “smart contracts” which are essentially online agreements (contracts) that programmed and encrypted so that the agreement terms can never be tampered with, EVER… An example of how this can be used; My father, Chinua Achebe, has a will with all of his children getting an equal ratio of his assets when he passes away. Chinua hires a lawyer who’s doesn’t follow through with his initial wishes and ends up giving the largest portion to his new wife, who also happens to be the daughter of Chinua, and they skip town. (I’m watching too much TV…)
The point I’m making with that highly dramatic scene I just painted is that people are unpredictable and with a smart contract the arrangement of values and conditions cannot be changed. With a smart contract Mbondo can set conditions that say, “The only way this money can be visible or touched is if 6 unique private keys are entered into this wallet at the same time.” Which Mbondo had previously distributed to his 6 children. People will enjoy having that sense of reassurance knowing there letting an automated program deal with their most important assets.
Neo plans on taking smart contracts to the next level. Their goal is to scale the functionality of smart contracts, making them easier and automatic.
Another cool thing about NEO is that when you keep your coins in a special wallet, not on an exchange, you will receive dividends in the form of “gas” regardless of the market fluctuation and you will receive every couple seconds depending on how much NEO you are storing in that wallet. By the way, I’m not talking about receiving vials of smelly fart or gasoline as dividends, but rather GAS is another cryptocurrency that powers the NEO network and complete transactions. Many people have no interest in NEO at all and are more interested in the GAS that runs the NEO network. I personally see value and predict huge growth is both by the end of the year. A few weeks back GAS was at about $8, and 2 days ago it reached a high of $27. GAS? And asset of NEO, reached the same price as NEO… That is just miraculous, I’m excited about the future of all these coins and can’t wait to see where they go.
My current positions are:
Litecoin – 15%
Monero – 25%
Steem – 10%
Neo – 25%.
OmiseGo – 25% .
I'm going crazy on Ripple
Really? how come?
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interesting insights and I agree, you are on the money on both counts ! OmiseGo is going to be massive and their team has very good Qi. Neo is a big deal, they call it the Asian Ethereum and I can see it being utilised in many ways over the next year or so. I can see both doing well long term and are hot property. Neo's gas is a really interesting phenomena.. who would have thought gas' a network asset would climb so high ? It's a crazy world out there.
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Some of them are truly great.