In the Beginning
My story really begins in High school. I was a boy who had too much fun listening to economic podcasts and videos. I started by watching Milton Freidman and Thomas Sowell destroying opponents on Youtube. This led to Ron Paul and the Mises Institute spitting economic truths on a daily basis. It was an eye opener to see the truth so naked. I had found the most economically sound and virtuous school of thought. Austrian School Libertarianism.
What an Idiot
In 2011, I gave a presentation on Bitcoin/blockchain tech for my class. I called it a gimmick, and a waste of time to all of the kids in my class. Little did I know, I would be eating my words years later. After this presentation, I put the idea of blockchain on the backburner. I didn't want to take the time understanding it. I would rather party in college. Throughout my time in college, I heard whispers of bitcoin throughout the libertarian community.
Then in 2015, I gave $100 to a cloud mining service. A few months later, my harddrive which my wallet was on died and I lost all of the coins I had mined. I was pissed. I thought, "screw this tech, it is too unforgiving." And I never wanted to pick it up again. $100 was alot of money to a starving college kid!
An Awakening
The libertarian community finally brought be back to blockchain. The persistant mentioning of how blockchain would revolutionize the economy finally got to me. At the start of 2017 I decided that I would really stick my nose to the grindstone and research blockchain tech. I spent three months reading about the mechanisms that make it work, the different properties that cryptos can have, and the use cases for this new industry. For three months I tried to find every issue I could with the tech. I wrote papers that I submitted to the most successful business people who I know. In February, I pitched an idea to the closest people in my inner circle. This idea has radically changed the course of my life these past few months.
The Idea
I have a full business plan that I wrote up to help pitch this idea. I'll give it to you in a few sentences. Basically the idea was to create a fund of 150ish cryptos that we, as a group, hold. We weigh the cryptos based on their potential and their proven value. ETH, BTC, STEEM, XMR, DASH, and a few others are weighed somewhat heavily. Each of the very small cryptos are weighed at about .03% of the total fund. This way, we diversify across the entire industry to mitigate risk yet realize the massive gains of small cap cryptos that explode due to some market factor. Each time we see an explosion we sell off little by little.
Preliminary Results
The group loved the idea. So, we started with a small amount of money in March. Since joining we have seen a tenfold increase in value. We have been beating the crypto market as a whole by about 10% per compound. This may not sound by much, but when you compound that 3 or 4 times it adds up.
More to come in the future on this. I'm stoked to be joining Steem. Learning from you, who are in the industry, is going to be exciting. And hopefully, sharing my insights will be helpful for you also. Below is a picture of Mises. One of the greatest economic minds ever.
Welcome to Steem @thaumie I have sent you a tip
Thank you! Hell of a name
Welcome to steemit!
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Will follow you back!
Thank you! Good luck with Steeming it!
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Damn, if you did get in this "gimmick" back then, you woul probably be a HUGE Steem-Whale right now! nice post! Will follow to see how the "small amount of money" will do in the future!
Thank you! I was such an idiot! When did you get into the whole crypto industry?
March 2017 ;-) but I think we are still early adopters!
Hello there @thaumie and welcome to Steemit! I just upvoted you!! I hope you enjoy your time here and make lots of $$$. If you're interested in lotteries, please check my profile out @steemitlotteries. I run FULLY TRANSPARENT LOTTERIES with promotional posts where I issue FREE TICKETS for those who help me curate my promotions. All the best! :)
Welcome to the platform, I wish everything work out for you. It’s not easy here but not difficult neither but just ask an extra effort, engagement is the key good luck I’m @goodaytraders Start by following people and they will do the same.
I am following your blog and welcome to Steemit. Good Luck on the Forum.