By John Miller
Thursday the 11th of January 2017
Hello lads, well what a wild ride that was. Ethereum, a coin that at the start of the year had been overhauled and left in the dust by the much-vaunted Ripple, went completely freaking bananas. In the intervening period there was a massive readjustment of the value of XRP, as coin holders ran back to ETH.
Ethereum still represents fantastic value for money in Wagecuck Dollars, but if you bought too much ETH near the top of the curve when it was in the 90s (you didn’t pay over 100 did you anon?) you might want to look at divesting some to buy some undervalued alts while it is still trading high 80s (0.089 as of a few minutes ago). I was getting ETH in the 70s a couple days ago.
God bless those wild fluctuations though. That was some mighty fine Coin grinding territory, and I have an ETH position that I’m comfortable long term with now. As we have seem dramatically illustrated, every long term Crypto portfolio ought to have some ETH, and whatever you bought it at it still represents much better value than fiat currency, which leaks mad value against Crypto.
Bitcoin, Ethereum, and Ripple are the holy trinity of Cryptocurrency, and both ETH and XRP are fast to transfer and easy to exchange for fiat currency. Why would you keep your money in the bank doing nothing when it could be growing exponentially though? Literally the only reason to ever cash out is to buy a Lambo.
Speaking of XRP, it is still savagely undervalued right now, so you might want to overload it into your portfolio while it is still under 14 (0.0001303 ATM). I was getting it for 12 the other day, but it wasn’t that long ago it was mid-20s, and anything around 15 seems pretty good value to me.
So with King Coin hovering around mid-14sish right now, where is the value at?
Obviously you don’t want to put everything into the Ripple basket. Ethereum is cooling off, and King Coin still can’t make up his mind if he wants to start his big push for 20 or noodle around the 15 mark.
Well, during the Ethereum gold rush when I was constantly checking exchange rates I had a good look at the Alts, and I like some of the most heavily traded ones right now.
I know, I know, most of them are just fantasy tokens. Even so, as long as they can be swiftly transferred into BTC, ETH or XRP they still have short term value.
With the Alts the most important thing is to not get caught holding them when they’re overvalued, because they tend to drop off a cliff whenever there’s a rush for one of the Big 3.
TRX, QTUM, XMR, XVG, and ADA all represented great value this morning when I woke up, and all are Top 20 both in terms of market cap and volume traded, so I felt comfy buying in and then setting re-sell orders. Either I’ll catch a small spike today while I’m about my chores or a bigger spike in the future.
Of course, they could all fall of a cliff and have me Pink Wojacking as King Coin sets sail for infinity and beyond. But they seem to have the most upside of the best and biggest Alts.
Make sure you’re on a good exchange though lads. I like Binance, even though the pages for the hottest trades sometimes goes laggy when the market is going hyper. For me this gives the feel of being on a mad trading floor. The tools and information available for financial analysis and real time tracking graphs also really vibe well with my autism. Hopefully they will give me some free coin now that I’m shilling jej.
Tron, Verge, and Cardano I still have no idea what their purpose is, but they seem breddy popular with smarter Coiners than me. I think Monero is big with people who don’t like the government up in their biz, but I don’t really buy much illicit stuff, so this could just be a rumour.
I like Quantum very much to join the Big 3 long term and make a Big 4, and love the idea of a 50K node network. Just remember coinfags, Ethereum operates on 20K nodes, and Bitcoin on 10K. There is also the China factor.
Red Communist China is so hot with crony capitalists right now jeju.
Always do your own research though, and remember that market conditions fluctuate wildly, so unless you read this almost immediately, all this information may be useless. Of course, it may be useless anyway, kek.
So far so good for the Conservative Crypto trader though lads.
Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie and when I’m not obsessing about Conservative politics or defending Trump I also enjoy various sports and Christian activities