I Told You So: Cryptocurrency

So it was almost one year ago that I made my first post about Cryptocurrency. Some of you may have read it, most of you probably didn’t. Now I am not one to toot my own horn, but I thought just for shitz-n-giggles maybe we could see what could have been if you’d only taken my advice. I find it a bit strange that the only people in my life who have ever taken my advice seriously have been the numerous government officials and international bankers who have paid me for it, perhaps they might just know a thing or two that the rest of you don’t. But here I gave my valuable advice free to all, and I would bet that no one even bothered to give it a second thought…

Last July in my post, I claimed that there were really only two ways to make money in crypto: trading and buy-and-hold. For buy-and-hold, I also said that you need a crystal ball to know which coins are going to the moon. Now of course I make no pretense towards psychic powers but let’s take a look at how my crystal ball performed for the 5 currencies that I recommended:

Read it and weep…

Coin Name July 11 2016 Exchange to BTC July 11 2016 Exchange to USD Jun 17 2017 Exchange to BTC Jun 17 2017 Exchange to USD Net Percent Change in USD Value
BTC 1.00000000 $649.03 1.00000000 $2,637.86 306.43%
LTC 0.00858148 $5.57 0.01690000 $44.58 700.41%
DOGE 0.00000038 $0.0002 0.00000120 $0.0032 1183.47%
PPC 0.00139836 $0.91 0.00084891 $2.24 146.73%
XPM 0.00013000 $0.08 0.00020377 $0.54 537.07%
S&P 500 Net Percentage Return 16-Jun-16 17-Jun-16 17.09%

So if you had only bought just one of these coins and done nothing else you could have multiplied your money from anywhere from 2 to 13 times(in a tax-free environment). In terms of investments this is just absolutely retarded; for example if you would have put the same money into the stock market buying an index tracking fund of the S&P 500 you would have made a 17% return, which is really very good in term of stocks, but nowhere near the quadrupling of Bitcoin or the exponential 13x gain of Dogecoin…

Sux 2 B U…

Now as far as the trading goes I have been enjoying modest success year-to-date. Without any cash investment on my part, my own portfolio has increased 16% in terms of bitcoin, but more than tripled in terms of dollar value. Since January 1st bitcoin has experienced a gain of 162% and the S&P 500 is up 9.74%, these are the dumb-luck stats, you could have made that by doing nothing, so I subtracted those out of the equation to find the true net effect that the execution of my trades has had on my portfolio and I have found that I have outperformed the markets(both crypto and conventional) by 32.66% in just 6 months. Professional money managers and hedge funds would sell their souls to be able to report performances like that to their clients, most of the mutual-funds that many amateurs hold in their retirement plans show a point-or-two gains or even losses on their quarterly statements, not 200+ point gains…

But hey, what do I know…

So maybe if you don’t want to get burned twice, you might actually listen to me when I say that the next big crypto is Ethereum. Ethereum is a decentralized distributed world computer programming platform. After some initial growing pains and a hack that caused a fork of the blockchain(and lost me my shirt in the process) it has finally recovered and has been the steady number two coin in all of the world. It is poised for a big run up and has the room to grow from the $350ish value today into the thousands like bitcoin is today.

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