Buy and hold ftw...
By 2020 we could have a 1 trillion dolllar market cap which could mean this is only 10% of where we can be in a few years...
Traders care about bubbles...
Visionaries care about utility and the beauty of the technology...
Steem can be $10 within 3 years easily...
RLC can be $10 within 3 years easily...
Ethereum can be over $1000 within 3 years or even this year easily...
All you have to do to give yourself the lowest chance of losing unnecessary money is to buy and hold...
If you don't want to worry about tax uncertainty and risk being haunted by the IRS, don't spend or sell, and simply hoard as much crypto as you can, and when they get their act straight and have sane policy years from now that will possibly be beyond 2020 anyway...
So buy and hold until at least 2020...
And of course you can trade as a way to be a deeper stakeholder, such as trading tokens to have enough to buy more Steem. Visionaries care about the future. I consider myself a visionary because I'm a futurist. Some others are libertarian, or anarchists, or socialists, or whatever utopia they see for themselves. Visionaries look for beautiful and practical technology for use in their own life, to build their own personal utopias, while traders simply seek profit without any long term vision or ideology.
There is a place for both. Profit is great and necessary, but profit for it's own sake is empty. It is true that profit is a means to an end, which is a usually better life for whomever is making the profit. Trading merely for profit doesn't mean by trading your life is going to keep getting better just because your numbers keep increasing in the wallet or bank statements. And vision in my opinion is personal, you don't have to share it with anyone, you don't have to join any ideology, or cult, or religion, or submit to any authoritarian vision of what your future should be, it's yours to build and tech are just tools from which to do it. Profitable tech simply makes it much easier and more fun to build.
LOVE this outlook. :-)
In the maelstrom, even here on Steemit, it is so refreshing to find more and more sane voices ringing true. I begin to feel more and more at home amongst the legitimate visionaries I came to find. It's such a simple yet blatantly obvious message for anyone willing to lift their eyes at least 6" off the ground, and I am glad to see you (followed and resteemed) giving it some clout!
Buy every Bitcoin dip. Hold as many as you can. Sell all FIAT to Bitcoin! Bitcoin is way to your freedom
If the U.S. government could ever get out of gridlock over every stupid political issue possible - and just get on with running the country... I sure hope that something will have to give by 2020, but I'm not very confident in the political process we have in place at this point in time.
If the best we can do is Donald Trump & Hillary Clinton... I'd say we've got about a snowball's chance in hell. SMH. 0.o
ReSteemed.
the government needs to go sit in a corner and play with themselves.
we don't need them.
Are you an anarchist?
The government is just a mechanism to defend rights and enforce law. Do we need law enforcement and rights?
you have NO idea.
an anarchist thinks that I am
WAAAAAY
far right..
Anyone else who Resteems my post will receive an up vote from me as gratitude.
I concur with your post and resteemed.
I'm trying to hold now 9 different cryptocurrencys, actually really curious what will happen in few years. They all woke up at the begin of 2017.
can u tell which ones? Im really new and wud love to which to invest in.
bitcoin at first of course, ethereum, artbyte, dogecoin (for fun), digibyte is doing great etc. You just have to do research a little bit.
I've been looking at artbyte--I can't figure out if it's awesome or not? I love the idea of it.
I very much agree. In my opinion, there is a greater than 50% probability that many crypto coins/tokens will have appreciated quite a bit by 2020. Buy and Hold! Resteemed!
Do you know what is the authorities policy if we don't "cash out" but still use the cryptocurrency .
for example, using a debit card, you can buy practically everything anywhere. and officially i think they are the ones to transfer your crypto to fiat money... very convenient IMO, but the risk is maybe IRS knocking on your door anytime in the future
That is a good question. If someone has a gaming item in WoW which could be sold, or Diablo II, and they never sell it for fiat, but they use it in the context of the game, do they owe any tax?
This is something only a lawyer can answer but I'm not aware of any gamers being charged with tax evasion or told to pay taxes on in game activities. I'm not aware of Second Life activity being taxed until it is cashed out into fiat either. Can someone answer this?
I think cryptos offer an awesome opportunity for the future... and I agree that we're only at the very beginning; we're where the Internet was when it had a million users and was considered "something for deep nerds." Things are booming, but consider the TOTAL market cap of ALL coins compared to the market cap of Apple (at around $800bn) as ONE company... and that adds a little perspective on how far we have yet to go...
Upvoted and resteemed!
Excellent point @dana-edwards. I'm more of a value investor myself, investing long-term in blockchain projects that I wholeheartedly believe in, so I buy and HODL! Upvoted and re-steemed!
Buy, hold, and pray! Resteemed, upvoted, and followed! Cheers mate!
Buy and hold. To the moon, Alice!
Resteemed.
Great idea!! It's so tempting to sell high and buy back lower but taxation and extreme volatility scare me away from that. Hodling for now!! Resteemed and following. Great post!!
Solid predictions !
The thing with IRS is very troubling... there should be no IRS taxation on money types transfer in my opinion.
i hope the stupid authorities in my country will get their senses some time in the near future.
It's so great to see how persons are becoming aware of the benefits of owning cryptocurrency .
since i'm a beginner in this field,ihis information is so inspiring Thanks @dana
Once this cat really goes out of the bag, no IRS can inspect every tax payer on possible crypto possessions. It would result in an immediate overhaul of tax systems (probably a huge shift to VAT taxes).
If we reach a 1 trillion dollar market cap, regardless of the year, along with a continued 45% bitcoin dominance, we will see $20k-$25k bitcoin.
So the real question is, how long will that take? If you have the time and patience, this may be the best investment vehicle.
Count me in. But how about a vision for no IRS?
All visions are personal. I don't even need to know or care what your personal utopia is, as long as it doesn't interfere with mine. Use the tech to make you happy in any way you fancy, just as long as I can do the same, let us both have better lives and profit.
I am buying at the moment, when the price is right that is when I will sell.
You a big fan of RLC vs say Golem? any big differences between the two?
RLC (iExec) is to be built on top of a high quality middleware which is already written. So when they claim they'll have something ready by November I can look at the middleware code here: https://github.com/lodygens/xtremweb-hep?files=1
And based on the code see that their estimation is plausible, doable, practical. They don't make any impossible promises in their marketing like "unstoppable code" or anything ridiculous like "code is law", they make very pragmatic promises with realistic expectations. Then I look at the team at iExec and they have the people who are literally the most elite in distributed cloud computing. The founders of iExec are also the developers of XtremWeb-hep. So they have the academic credentials (doctorate degrees), and the code to analyze, giving them a clear track record. Most important of all, they are long time career professions with relationships with academia, government, big corporations, and even some crypto related companies like Genesis Mining.
I look at Golem, and Golem is developed by a team in Poland and I don't know much about any of them or their track records in distributed computing or cloud computing etc. They are also a lot more ambitious, make much bigger promises, have a more marketing based "big promises" approach which I'm skeptical of their ability to deliver on in any reasonable amount of time because it appears they are reinventing the wheel doing it all from scratch.
So from a technical point of view, I already am a little bit familiar with iExec. From a technical perspective, it's a simple project building on an established middleware created by the founders of iExec. Golem is a thesis in itself, and to me seems more like the thesis project of college students trying to learn how to build something new rather than the implementation project of established professors.
Besides differences in team, there also are technical differences. The purpose of iExec is to create an API so developers of smart contracts can make use of off chain computation. Ideally iExec will offer a decentralized market network for computation resources and offer a nice interface for cloud computing. Golem I'm not entirely sure if they are building an API but even i they decided to do it, there is no real reason why I would believe their API will match iExec particularly because iExec is focused on catering to developers primarily. Golem also seems to have more focus on distributed secure multiparty computation and less focus on cloud computing. There is a distinction though, because cloud computing implies virtual machine instances which can run on a remote machine being rented over a market network, while distributed computing seems to imply breaking up a computation and sharing pieces of it over multiple computers.
These are different use cases. A secure distributed computation is a lot more difficult to pull off. In the case they do pull it off, then the Golem network could become a provider for iExec. I favor the design of iExec because I look at Golem and they claim to want to do secure distributed computation over "isolated virtual machines" and I'm just not convinced of that approach. The best approach I saw was Codius https://www.codius.org/ , which allows for smart contracts via peer to peer open hosting. In my opinion this at least gives a clue to how to go about it, in that I don't think faith in the code and quality of the virtual machine should be the only mechanism to supply security for a "worldwide super computer", as I think isolation of software processes simply isn't going to be good enough, but what do I know? I'm sure they have people who can figure it out, this is a non-trivial approach.
Don't get me wrong here, the middleware of iExec in my opinion is not optimized. I look at some of the design choices as questionable with regard to performance. The choice of Java as the language, the choice of certain protocols, all have an impact on performance which I expect not to be very fast. This is a bottleneck in design which can be exploited by future competitors, just as EOS has a design advantage over Ethereum in performance.
But what they gain with choosing Java is a language a lot of developers know (familiarity). Also Java is an easy language to work with compared to C++, being that it is more forgiving. On the topic of security, again they choose a baffling certificate approach, which I guess on the face of it was/is okay but in my opinion not ideal or sufficient long term. I think we need to find a way to get away from trusted certificate authorities which can and have been compromised in the past.
I refer to this: https://www.vidder.com/compromised-ca-certificate-attacks/
References
Agree 100%
I love the part about how visionaries care about the utility and the technology. Yessss...Go Long! 🏈
I believe in application of blockchain projects and it seem that this is just the tip of the ice burg, the internet was supposedto be decentralized and eventually people we see real applications using the blockchain technology.
based on a true story
Hi @dana-edwards, I think you are under estimating Steem, it should get to $10.00 within the next year!! I hope it happens. As you say we can built a lot of wealth by just holding on.
I like your post, thanks for sharing
Maybe it can, but I'm going based on their own announced development schedule. They wont have the important community features until the end of this year by their own schedule. Of course they could achieve this sooner somehow but I assume in 2018 is when Steemit will get to $10. I think this year $5 is a nice price.
tines toda la razon en este articulo, ahorrar es importante muy importante debemos garantizar nuestro futuro y ser razonables a la hora de gastar dinero, lo mejor en mi opinion ahorrar en crypto o steem @dana-edwards
Dana my brother give me your top 6 picks. Thanks and take c arer.
Also we can take one look at wall street to see where profit for it's own sake has gotten us. If crypto is creating a new way to look at money, let's make sure it looks nothing like what those hacks did down there on Wall street.
I expect STEEM will be worth $10 well before 2020, it will go much higher
There is no way it will take until 2020, at least not the way I see it.
I agree and I won't be surprised if ETH hits $1,000 within a few months. I feel like this is just the beginning for it
what is the coin limit cap for Etherium? What do you base your projection on?
Update: Do not take any post made by me as investment advice. These are my personal opinions only.
Good post. I was about to start a similair discussion. It's surprising how much uneducated investors the crypto space has. You still see people invest in this shady and scammy coins. We do need more indept investment analysis. Does anyone know about: https://www.coincheckup.com This site lets you check investment stats, And does a complete background analysis for every single coin. That's tradable on the market.