I'm about to embark on a journey that I plan to detail in a series of post, with this post being the first in the series.
I read about some guy that decided to buy a bunch of altcoins and hold for a year. I've also always regretted knowing about bitcoin since it was $50 and never buying it or getting interested in it until it was over $4000 late in 2017.
Inspired by the stories of many HODLers, I've decided to try the same.
The plan is to buy & hold any altcoins that seem somewhat promising and I plan to hold these for the long term (5+ years, so no selling until the year 2022).
I do trade bitcoin and ethereum, and so anytime I make a nice profit I plan to contribute a small % to the long term altcoin portfolio.
By making this journey public, I hope to keep myself accountable and refrain from selling until the year 2022, at which point I can decide to keep or sell my coins. One of the biggest factors is refraining from taking a 100% or 1000% return -- when we think about Bitcoin being $50 a couple years ago, it would have been real easy to take profits at $500.
The rules may change as we go along this journey, but the main goal is to avoid trading and simply buy & hold.
To start off, I've made my initial investment as of today. It's a very small amount and I hope that will also inspire other people to do the same and see what is possible starting with low amounts of capital in the cryptocurrency arena.
Holdings as of Sept 3rd 2017:
50 LBRY Credits @ 0.00 BTC (these were mined by my GPU rig)
2 LSK @ 0.00143207 BTC
100 NLG @ 0.00002828 BTC
1 MCO @ 0.00254423 BTC
2197.745 XVG @ 0.00000123 BTC
5000 DOGE @ 0.00000048 BTC
2 KMD @ 0.00063970 BTC
Total Invested so far: 0.01461899635 BTC which was roughly ~ $66.51 at the time of purchase.
We shall see what happens in the coming weeks and months!
Very cool. I'm following your journey, interested to watch how it unfolds :)
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STOPHi, i will follow this with interest as i am doing a similar 1 year experiment, good luck! https://steemit.com/introduceyourself/@leegroves/day-5-binance-kucoin-1-year-hodl-experiment-started-24-january-2018