Click Here. Today’s prompt is “What Are The Top 5 Crypto Assets You’re Investing In Now?This is Day Five of @ dragosroua’s #challenge30days writing challenge. For more info on the challenge,
This is a great topic! Most people who are on Steemit are at least somewhat aware of the crypto world. It would be challenging to find someone who is Steeming who doesn’t know that they’re posting on the blockchain. Therefore, it’s a topic that’s applicable to all of us and I’m curious to see what answers other people give.
Source: Pexels
My Top 5 Crypto Assets
Steem!
This is an easy one for me. I spend most of my online time on Steemit (or Busy) so Steem is the main crypto that I use on a day-to-day basis. The first time I tried sending SBD to someone, I was fairly certain that I would do it wrong. I haven’t messed it up yet and now I’m quite adept at sending my SBD and Steem all over the place. I’ve powered up quite a bit and all the Steem, SP, and SBD that I have in my account I got organically, that is I haven’t purchased any. I do see a lot of potential in Steem and while there are definite headwinds and challenges, I still have enough hope in it that I continue on and try to make Steemit a better place while I’m here.
Ethereum
This was the first crypto that I bought a while back and it has been doing well, despite its struggles. For quite a while it has been the #2 crypto next to Bitcoin. The main thing it has been missing is name recognition. Then it discovered a new problem: scalability. That scourge known as Crypto Kitties hit the market and the Ethereum network got exposed. I still have it in my portfolio, but I've toned it down. Yes, the Lightning network is supposed to make everything better, but the last I heard, Ethereum could use some prune juice (Bitcoin too, right?).
Ripple
This one could be a little controversial as Ripple is a centralized network run by some of the biggest banks, but it's a coin that I think will continue to do well. Yes, it dropped with the market, but I think it's going to continue to attract attention and make gains. Fast, cheap transactions is something that the banking industry has been needing for a while. The collaboration of many US banks to create Zelle is proof of this. Zelle isn't blockchain-based (that I know of), but it shows there's demand for money to get moved easily even between institutions. Look for this market to continue to expand.
SiaCoin
Remember, the prompt was about what I'm invested in. That means, just because I'm holding it, doesn't mean that I advocate that you buy it. SiaCoin is something that I picked up through mining. It was cheap and easy to get for a while, so it made sense to mine it. Then, the whole debacle with BitMain happened and I was really glad that I hadn't invested in SiaCoin-brand miners. See this article I wrote for Day One to learn more about that adventure. I'm still holding the SiaCoin because I believe it will go up in the long-term, but for now it's just taking up space in a wallet.
SSG
I WISH! Wouldn’t it be amazing if #steemsilvergold, aka #ssg had its own crypto? I don’t have the technical skills to make that happen, but if there were ever a group to do it, I think this is the one. How cool would it be if you could directly trade Steem or SBD for tokens in a blockchain that actually physically owns silver and gold? I’m thinking outside the box here, but I’d love to see it happen.
Technically there already is a “coin” for this group, but in a truer sense, it’s a round because it has no monetary face value as it’s issued by us, and not by a governmental body. There’s still a chance to get some of your own if you haven’t already. @sevinwilson hasn’t said it’s done yet, so get them while you can.
https://steemit.com/steemsilvergold/@themanwithnoname/last-chance-to-buy-a-steem-silver-round
Wrap Up
Those are some of the holdings that I have. I have others, and of course I invest in silver, so that takes some of the money that could otherwise go to crypto, but sometimes a guy just has to buy shiny metal.
Disclaimer: Not investment advice. The ideas presented here are for information/entertainment purposes only. Do your own research. If you figure out how to feed prune juice to Bitcoin you could become very wealthy. Never invest more than you can afford to lose. Never lose more than you have invested. Think about it.
Coin Logo Source: Coinmarketcap.com
- What do you think of my picks?
- What are you holding?
Previous Writing Contest Entries
- Day Four: What Are My Top 5 Most Relevant Witnesses On Steemit?
- Day Three: What’s The Best Thing That Happened To Me Because Of Steemit?
- Day Two: What Would I Do With A Gift of 1,000 Steem?
- Day One: How Did I Get On Steemit?
I started with Ethereum too ... I am also mining it right now.. I have traded some etherium for Steem in the past when the price of Steem drops - I was happy to have a reason to use it - but I'm HODLing most of it.
Ethereum mining was fairly profitable for a while, but it has been decreasing fairly rapidly. That's probably smart to trade into Steem during the dips. Steem has more room to run if things get good. Maybe. I'm not sure. Not investment advice. ;)
Haha. Nice one. Maybe once SMTs come out we will make our own SSG coin ;)
Hey, that's a great idea! Would the design change every year as the design of the Steem Silver Round changes? Or would that be too confusing and cause for lack of recognition?
I knew you'd at least have more than STEEM to work with. I basically punted because I only had STEEM, and only because I'm here. That's pretty interesting that you still hold onto a coin even though you're glad you didn't get involved with it more. Cool that you did some mining, though.
I think you milked the prune juice bit quite well, both in the body of the post and in the disclaimer. Now, since you play a doctor on TV, I'm guessing you must be a bio-crypto doctor, so I would like to know just what the effects of prune juice are supposed to be on Bitcoin? Something supposed to get moving?
It's more that I'm glad that I didn't buy their ASIC miner. I would have taken a huge loss. If I had gotten a Bitmain miner, I could have made more money on it. However, it became too complicated, so I just bowed out. With the ASICs running it's not profitable to mine with GPU anymore.
I AM a bio-crypto doctor. It's a special school that you have to go to, but it's totally worth it because you get to wear special scrubs. And yes, the prune juice should get Bitcoin moving. :D
One day crypto will be easier to invest in and you won't have to have separate wallets for everything. When that happens, it will be much easier to get invested in many different coins without much trouble. I foresee being able to invest in crypto straight from your IRA if you want to. It will just take some time.
What's in the way of it being easier to do now? Regulations? Lack thereof? The fact it's all decentralized doing it's own thing? It's not globally accepted as currency, but rather an asset?
Okay, so Bitcoin is constipated. Got it.
It's still new. Everyone has their own protocols. Because they're different technologies, you can store your tokens from one in another's wallet. It's like trying to plug a micro-USB charger into an iPhone. It doesn't work. Eventually, hopefully they'll all switch to the crypto-equivalent of micro-USB so you can use one charger for anything. Although, that would decrease profitability for Apple. Or it would make it so you could easily get out of the lower-quality cryptos, so maybe they wouldn't want that.
There are probably other issues at work and I'm not claiming to be an expert on it. I have heard there are some solutions that allow you to hold multiple currencies in one spot, but I haven't used them. I'm still running the separate wallet deal. It's super fun to keep track of all those passwords. The joke is on them, I use the same password for all of them. abcdefghijklmnopqrstuvwxyz1234567890. No one will see that coming. ;) LOL
Bitcoin is backed up. It's a thing that has been a thing for quite a while. Transactions take a long time.
Congratulations! Your post has been selected as a daily Steemit truffle! It is listed on rank 17 of all contributions awarded today. You can find the TOP DAILY TRUFFLE PICKS HERE.
I upvoted your contribution because to my mind your post is at least 41 SBD worth and should receive 95 votes. It's now up to the lovely Steemit community to make this come true.
I am
TrufflePig, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, you can find an explanation here!Have a nice day and sincerely yours,
TrufflePigThanks, trufflepig. I know you're a bot, but you still deserve a thank you. :) I'd love to see this post hit 41 SBD payout. I don't think I've had that happen yet, but you never know!
Coins mentioned in post:
WARNINGCONFIRMED SCAM!
DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment! - The message you received from @ilhamyus is a
For more information, read this post:
https://steemit.com/steemit/@arcange/phishing-site-reported-tpm-rotator
If you find my work to protect you and the community valuable, please consider to upvote this warning or to vote for my witness.