Hi there!
My name is Sabin and I'm a cryptoholic :P ... they call me a software developer, but I like to describe myself as a badass miracle worker :D
Just kidding ... I'm slightly above average as a software developer, but I found myself an excuse: it's because my dream is not to become the best software developer out there. Instead I hope that one day I'll be a successful entrepreneur and making money by doing what I love (playing table tennis and travel).
I might even have a plan and please don't hesitate to comment on it as I'm fairly new to blockchain technology and decentralized design and if my approach is a bit naive I would like to find out sooner rather than later.
If only I could generate an income of 3000$/month by putting my money to work for me and NOT the other way around, I would then manage to focus my time and energy on making my dreams come true.
People might say this sounds like a fairy tale, but I'm a numbers guy and if my estimations are correct I might reach that point in about 2 years (BTW I'm 28).
Now let's follow the plan :)
I first heard about Bitcoin and I thought ... "ok, but how do you make money out of it? because you can't just buy and hold, that's boring and your certainly don't get the results others brag about". I started digging and soon became a miner. I joined a mining pool and bought my first 2 years contract of Bitcoin hash power for 500$
You should never invest more than you can afford to lose especially without doing your "homework" first. Of course ... after stumbling upon https://www.coinwarz.com/calculators I found out that it will take more than 400 days just to brake even compared to other cryptocurrencies like Dash which will take (back then) only 200 days to brake even.
After that I've bought several other 2 years contracts of Dash, Ethereum and Monero hash power with daily payouts. I make this payouts to my exchange account and trade there around 25-30 different cryptocurrencies. I buy in average 100$ worth of VEROS, Litecoin, Creditbit, Emercoin, Zilbercoin, Namecoin, Chronobank, Octanox, PIVXCoin, CryptoCarbon, DIBCOIN, SoarCoin, BlackCoin, ArcticCoin, First Bitcoin, BITPARK COIN, Burst, PutinCoin, PoSWCoin, Minereum, WINGS DAO, UnityIngot, E-Dinar Coin, Doge etc. when I expect them to grow and immediately after the purchase I make a sell order for 150% of the buying price (i.e. I buy 1 Doge for 0.00000134 BTC and I place a sell order of 1 Doge for 0.00000201 BTC). I use Bitcoin Checker and set one alarm for each sell order so that I only open the trading platform when I have what to buy with. I usually buy with Bitcoin or USD
This means aprox. 50$ for each successful trade (buy low - sell high)
I know it might not seem a lot, but in the last few weeks I had on average 1 successful trade every 3 days (=500$/month) + what I get from mining I think I already hit 1000$/month.
All those winnings remain in my trading account for future trades until I top the amount I have in mining contracts, when I buy some more hashing power.
I think now it's pretty clear how payouts from mining contracts increase the amount I use for trades (and that helps me decrease the selling price or increase the number of pairs I trade with) and then all those successful trades help me buy more mining contracts.
What do you people think?
Can this be a long term strategy? Because I feel like most of the new cryptocurrencies won't use PoW and some of the old ones opt out of it.
What other opportunities am I missing out on?
Welcome.
Thank you
Welcome to Steemit! You are going to love it here :)
Thank you. I already do :)
Pretty sure I'm not the first one to think this, but ... How cool would it be if https://stackoverflow.com made their platform using blockchain technology with a similar reward system?
I had so many moments when I just wanted to "kiss" the persons who had solutions to my problems (not just upvote their post)
Just saw your post now- welcome to Steemit! Look forward to your posts and will follow you.
Thank you
Welcome to the community. Appreciate the PIVX shout out there lol...I worked in their marketing and ran their Facebook for the last few months until recently due to family financial needs. Great project and family of mine over at PIVX.
Your strategy seems to be working for you, its hard to say what in crypto is a sure thing to bank on, what you see in profits now may not be the same in a week. You have to be able to adapt to changes when it comes to crypto but you seem to be getting the grasp of the trading game like I do. I personally shoot now a days more long term, like I moved to Steemit due to the long term saving plan of the Steem Power game, keeps me from blowing my crypto and give me a home to really work within. I have found in crypto if you really want riches you gotta find that project you can find a way to be involved with and grow with it if you have the resources and time. Granted that is not feasible for everyone with the day to day lives we must live but long term investments always end up paying way higher profits if you can find a coin you trust will bank off like that for you.
I mine as well as a way to stabilize my crypto incomes, trading funds, buy a bluray now and then lol. Heck I just built a $2600 gaming pc off of PIVX side money so I know the right plans can be put into effect. And get this, that $2600 was from investment money of only $30 I went into that project with. Hard work, lots of paying attention can make you some money in this world.
Figured I would leave you a novel...liked your enthusiasm displayed in your introduction. Feel free to hit me up anytime. I also run a RESTEEM page for users on Facebook and Twitter called Steemit Blogger Central, will hook you up with a few posts if you like gain more followers. Anyways all the best, you been upvoted and followed by me...wishing you great success
Amen, brother! :) Awareness and adaptability is the key!
That list of cryptocurrencies was in no particular order, PIVX is one of my favorite coins.
I like your perspective towards getting involved in a crypto/blockchain project. I know now what to do In case I'll need another job after this current one (lots to learn from withing the industry along with all those riches).
Indeed, mining is the most reliable strategy for creating a new steady income stream (for the moment) and although I'm not a gamer, I'm glad things went the right way with your PIVX investment.
Don't worry about the long posts as long as you bring value (and believe me you have) I'll always appreciate them. Already liked and followed Steemit Blogger Central and also invited my colleague @decebal2dac.
Best wishes my fellow steemer. I'll make sure to read all of your posts.
Well to be honest I am not much of a gamer either lol....I build the pc more for graphic designs and having the tools to market a little smoother, Core2Duo pc I was using was so beat down it was taking days to load a page lol.
My view is to just get in there and do the work, I am more a blue collar type guy in way I rather earn my keep and at the same time work for myself so crypto has so much potentials for everyone to do that, just have to find your place and gifts to get in there and find a spot to grow. PIVX was that for me, more or less to teach me what I am decent at and now kind of on my own here with Steemit trying to take what I learned and apply it towards this community and for myself. So far so good...hopefully it will continue to grow.
I just followed your friend there and I really appreciate the support for my pages, working at it hard, hopefully it will help others a lot as it blossoms. Keep in touch, and if you need anything let me know, I am usually on a lot
I'm definitely following you and seeing what happens man. I wish I had better advice, but I am in a similar boat, where I am trying to make my money work for me. Through crypto and the internet I believe I can become financially free and make enough with passive income and clever trades. I want the time and resources to travel and follow my interests. Good luck and welcome to steemit!
Thanks, man!
Don't worry ... I prefer a long term comrade on this boat rather than a one time advice ;)
At some point I want to diversify my portfolio with a couple of real estates and UK is a great market for that.
Best of luck and I hope to hear from you soon with some great insights and advice.
Cheers!
Welcome to steemit @sabinp :)
Wow you're really invested in the crypto universe! I can't give you expert advice, but I doubt this will be a good long term strategy because, just like you mention, there's a big movement away from PoW.
I'll give you a follow cuz I'm really interested in learning how to program and I'd love to see you post some content on that as well as other crypto news.
I'm new to Steemit too and I'd LOVE it if you checked out my introduction post at https://steemit.com/introduceyourself/@blaisep/hello-steemit-my-name-is-blaise
Thank you, Officer! :)
Great résumé you've got there (no offence).
I like your attitude towards learning new things and your passions.
I recommend you follow Tai Lopez on Youtube, FB, Instagram, etc. for some good advice on building up a social media following. He even has a course on that topic.
I personally like that music genre and would follow your Youtube channel.
Hope to see some posts on microbiology from you as I'm sure people from everywhere are interested in this subject, but please make it easy for us to understand :) (I loved this book https://en.wikipedia.org/wiki/The_Selfish_Gene)
Best wishes!
Welcome to Steemit! I hope you will enjoy it as much as I do! :-)
Thank you, Bart!
No need to start a contest, but I think I enjoy it more :-) :P
Welcome to Steemit Sabin, like that shirt lol!
Cheers, mate!
I know, It's outstanding ... right? :D
welcome to steemit!
Cheers!
Welcome to Steemit! I hope you like it as much as I do. Let's connect!
Thank you, Lulita!
Already loving it :D
Welcome aboard, Sabin! Follow me at https://steemit.com/@bitgeek
Thank you, @bitgeek! It looks like you have a lot of great posts, I sure will ;)
Welcome aboard! :)
Thank you, kind sir! :)
welcome to the community!!
I appreciate that!
Welcome! have fun!
Multumesc :)
Welcome @sabinp, I appreciate you explaining your strategy regarding mining contracts, payouts and reinvestment. That totally makes sense and I've learned a little bit from you today.
I'm brand new to investing in crypto and have wondered about buying hash power for mining and how it works. Any other resources you could point me to?
Thanks! (from another one of those software developers)
Thank you, @britt.the.ish!
I did not expect this much appreciation from this many people. Honestly I was afraid of making a fool of myself by stating "obvious" things. I think this might be a very common problem among most people not only Steemers.
I personally mine on https://www.genesis-mining.com and trade on https://www.livecoin.net and https://poloniex.com/
Take action (start with small amounts) and take as many shortcuts as you can, but make sure they're not just some unlit side streets.
Do your research as much as possible. Follow more experienced people here on steemit or on youtube:
https://www.youtube.com/channel/UCHHtN4LNc34zswfKhvNgPLg
https://www.youtube.com/channel/UCCEVzoj5KQAZBmuHWH1GM1Q
https://www.youtube.com/channel/UC2L7yK17LXIOAs-zNmSspOQ
https://www.youtube.com/channel/UCdUSSt-IEUg2eq46rD7lu_g
If you have any other questions don't hesitate to ask!
Best wishes!
Welcome to Steem @sabinp I have sent you a tip
Welcome to Steemit community!!
Follow me. I will follow you back. :)
Hello! :) welcome to Steemit, its an amazing platform and you will meet loads of great people here and everyone is lovely!!! if you ever get hungry, dont go to my page :P Alla x
Thanks @allaysyummyfood
You're killing me :) Too late ... I already did. Drooling all-over now :P
It's hard for people like me who want to eat healthy but only know 5 basic recipes and almost never desire to spend too much time in the kitchen.
Oh, how I miss Romanian cuisine (especially my mom's) :D
Hopefully some day I'll have the privilege of tasting one of your recipes
Welcome
Cheers
Hi! I enjoyed reading your intro, also I just want to ask you: If you could choose one coin to mine, which one do you think is the best one to mine at the moment?
btw very nice t-shirt :)
Hello @mesicampbell
Thank you!
I don't yet have a personal best for mining. I think it depends on a couple of factors like:
If you're new to mining/trading/crypto like me just start with the main coins (top 50) to build up trust and courage :D for the long run.
P.S. I like your t-shirt: Boobs make ME happy :)
Pictures are great. welcome.
Thank you!
I would follow you, but I don't understand a word you post :))
Best of wishes
Thanks sharing. I just started my contract mining. I don't even thought it can make $1000 per month. How you do it? How you track which coin price will go up? that's amazing if you purchase so many coin and tracking it
Hi @coindaddy :) Can I just call you Daddy? :P
"This is ten percent luck
Twenty percent skill
Fifteen percent concentrated power of will
Five percent pleasure
Fifty percent pain
And a hundred percent reason to remember the name" - Fort Minor, Remember the Name
Sorry for getting a little cocky here :D
There's no perfect recipe for this.
I just put some USD and BTC in my trading account and then go through all the markets/pairs (i.e. PIVX/BTC, EMC/USD, etc.) and based on:
I pick 1 or 2 and buy with an average of 100$/pair and then place the sell order for aprox. 150% of the buying price and just leave it there to be filled in the future.
I use Bitcoin Checker (Android app) to keep track of pair prices.
Don't imagine all my trades were successful, but I'm not bothered about that because I know in the long term they will be.
I'm just happy that 10 out of (20-30) pairs I trade are very active on a short term basis.
P.S. Send payouts from mining straight to your trading account (don't go through personal wallet) just to avoid a transaction fee.
I am following you. I look forward to seeing you actively here
Thanks, @andrefalegan
I'm lurking around here every day since I joined :P
Hello Sabin!
Bun venit pe Steemit!
I am a new member as well and i think it will be great if we will follow each other posts.
I already follow you and looking forward to read your future posts.
Have a great day!
Iti doresc mult succes!
Salut George
I just noticed I did not reply to your comment although I did follow you 3 days ago.
Thanks for your warm welcoming. Bine (ca) te-am gasit :)
Best wishes!
Salut Sabin,
You are welcome! For the moment i out of the country so i am using just my cellphone so i can't really post a lot of things but soon i will be back. Its really nice to see you here..and i am happy to see that you are in the crypto world. At the end of the day this is the future!
Hai ca vb mai mult cand ajung si eu acasa. Eu chiar ma bucur sa vad inca un roman aici!
Iti doresc o seara placuta!
Best wishes!
Welcome to the SteemIt Family. Upvoted and followed. I believe SteemIt is the future of the social media. Like you, I have just started investing on Cryptocurrencies lately and I'm thrilled. By the way, feel free to follow me as well. :) Cheers!
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