Crypto Assets Tip Thread

[fatmansan]

I don't want to be too presumptuous starting this thread but I'm finding at the moment I'm looking at my Blockfolio app every 2 minutes. The vol on this stuff is incredible, it's exciting and it's still pretty early days in the main (although doesn't always feel like it).

So what do you have in your portfolio and what are you looking at next? I thought a conversation here might have less "mooning" and "hodling" than the majority of the other online forums that are available on this subject.

Here's my starter for 10 with weightings based on current market value.

BTC (3%)
Where I started. Cashed out once to buy a ski jacket (don't regret it, loves it). Back in because although market dominance has decreased massively in 2017, it's still the headline act and the only recognised currency anywhere (even if that's just Japan)

ETH (66%)
Got in later than I wished, but still going strong. 12-18 month position in my mind

FCT (27%)
Strong fundamentals with these guys; good investment history; solid team; product application options are significant

SC (2%)
Small sidey about 6 weeks ago that's come good. Despite problems with their wallet there is a product already out there. Potential upside on their own, combine with STORJ, or buy out from Dropbox/Amazon?

GNT (2%)
Compute for everyone. Love the idea.

Waiting on...

STORJ
Token sale has completed, just waiting on delivery.

I've also done a bunch of Ethereum names, all at 0.01 ETH each for things I like the idea of on the off chance they come good. At $2 a pop, who cares if they don't?!

[fatmansan]

MCLARENSLR said:

Have you got a link for the Ethereum names you mentioned in the last sentence please. I would be interested in taking a look at those.

http://registrar.ens.domains/

Use Chrome and get the Metamask app. Deposit some ETH into that wallet and you're away.

[fatmansan]

rufusgti said:

I haven't ever looked into other cryptos. Bitcoin is stressful enough.

I hear you. With vol like this, no wonder. However, it's revamped my commute and I'm enjoying researching some of these other alts and their different business ideas, enabled by the tech.

What the customer will want? We'll only know in time.

[fatmansan]

The Spruce goose said:

Not sure on sc, seems a pump and dump. The storage network is used by 1.6% utilisation but worth 400 million, and as price goes up so does storage cost, which is about 2 dollars a tb now.

Pluton is an interesting one, I own iconomi, edgeless, and mine a coin called Sib coin. I swap my other coins weekly.

SC definitely has a product (one of my litmus tests generally) and they've overcome some problems with their wallet and transaction processing capabilities. However, I am with you in that I don't see this as a LT holder. I've made some decent gains on it in the last 8 weeks but the guys at Storj seem a lot sharper from comments I see on reddit/slack and having listened to their CTO (this is a good listen if you've got 50mins on your hands: https://youtu.be/fOvq_qdBDls). I plan to ditch SC and re-invest.

I had a look at Pluton - interesting idea indeed. I've had Iconomi on the watch list of a while and never dived in, but it's a good model. Bitshares is a similar model and has a bit of a run recently and so I think ICN could do likewise.

[fatmansan]

Behemoth said:

It's a model that's sadly inscrutable. And so, thus far, almost impossible to market. I've had an enthusiast try explaining it to me and I'm still confounded. I'm sure the concept has value and if anyone cares to explain it well, I'm all ears.

Currently I see them just like any ETF provider out there. This is a big enough market as a starter for 10.

I guess with their future model of opening up the ability for Johnny Normal to create "My Awesome Fund" then, by using smart contracts on Ethereum, people can create some pretty flexible investment vehicles for distribution of performance. You could see a use case there it become a marketplace that drives fees lower. As Crypto futures become more widespread then there's a lot to attract would-be ETF providers where they think they can make even better spreads. Not sure if they are going to incorporate futures vs. underlying trading to manage it, mind...

That's my take on it at least.

[fatmansan]

Behemoth said:

Thanks for the explanation (though I'm still a bit fuzzy about how that'd work in practice). You are spot on about the sector opportunity, which can be extended to the whole financial sector for crypto generally. The world of finance can easily be disintermediated to a very large degree since the inputs & outputs are already digital and can be verified with little friction.

At launch, I have no idea why Ethereum banged on about hiring rooms with smart contract digital hotel keys as their primary use case (slock.it). They were way off target with that. A cryptocurrency could be used to verify I have funds in XYZ equities or commodities or futures, but which computer is going to check I left the hotel room undamaged?

Not sure, but I liked the original idea behind slock.it. I have a rental in France and ability to get visibility on comings and goings is good. Linking locks working to payment/authorisation if it's your own place [through smart contracts] is also a good idea. I agree though, not sure it's the killer app.

[fatmansan]

xeon said:

Those who hold some of the less popular coins (coins other than bitcoin and ethereum that you can get from Coinbase), how are you buying and storing them securely?

I've seen some mixed reviews about Kraken, which seems to be the best exchange for UK. There doesn't seem to be hardware wallets to hold these coins once obtained though and I would rather not leave them in the exchange.

The answer, unfortunately, is "it depends". Anything based on Ethereum, I store on my ledger nano S, but you need to go via MyEtherWallet.com since the native Nano S software (Chrome app) doesn't show token balances.

For other alts, trade on Poloniex or Bittrex and move to a wallet on a computer.

I think Kraken are decent. They always respond (eventually) to support calls and funds normally clear in a couple of days from Fiat -> Exchange.

I would suggest you always have more than one fiat exit account though so you need Coinbase, Kraken at a minimum - with accounts setup and tested ideally - and there are others out there: Coingate and Bitpanda and eToro too. Some only offer EUR but if you need to jump back to fiat, the least of your worries should, in my view, be the exchange rate between EUR:GBP.

[fatmansan]

So weekend reading is going to go on:

- LBRY (already listed)
- ECO.io (upcoming ICO)
- https://chronicled.com
- Digix DAO (digitising assets, gold seems to be the starter for 10)
- SWT (I picked some up the other day and they now have their first release "Boardwalk" live. All about monetising hashtags and earning reputation to be trusted. Fascinating idea and will only work if the network grows but I like the principles).

I also sold out of my Sia Coin position for a decent profit and it's now sitting in ETC because I want to see how their play as a store of value is going to go.

I've been playing around a lot more on Ethereum and the contract process via myetherwallet.com as I've been buying up a few names on http://registrar.ens.domains/. It's still not that intuitive and you've really got to want to do it. However, what it has demonstrated to me is how independent you can be with it all and get stuff done (like registering a XXX.eth address to resolve to my Ethereum wallet on my ledger nano s).

[fatmansan]

The Spruce goose said:

hot topic is quantum computing so coins resilient to this must be a good bet right now.

Agreed - although I don't think there are that many out there yet?

The Spruce goose said:

ive sold most of my coins due to issues but will carry on mining.

Anything to do upcoming BIP148? I'm thinking seriously about pulling everything as any uncertainty is going to spell trouble.

[fatmansan]

Has anyone taken a look a NMR?

Looks like a very interesting idea indeed. Hard to know where the level should be though.