Ready for the next big BitMoney rush
In it for the long term
The quadruple profit trading challenge got stuck at the same level for a few days. With just 3 days left I decided to buy PivX, expecting it to have a break through very soon. And I am not selling, but holding on to it long term, moving it out off Bittrex soon. For me it is the long term and I think PivX has the potential of growth. Amongst a few others, like Steem, of course. Even though the huge recent pump seems to have flattend out a bit to a more stable level. Keeping that Steem Power at level, while enjoying a nifty 3% dividend on that stake.
Yesterday was a day for me to just blindly buy some BitMoney types to be stored for the long term. There was some cash flow in Steem to do so. There is still a nice conversion rate for Steem (Backed) Dollar to Steem, so I used Changelly to take care of that. And after I'm done with the trading challenge I only will be using these kind of conversion services. Those trading exchanges are far from being my cup of tea, I'll leave them to the pros. While I do enjoy the ease of use of those conversion exchange services like ShapeShift, Blocktrades and my current favorite Changelly.
Added Stratis to the long term portfolio
Just like I did with Litecoin, I bought some Stratis at a low, yet climbing price, using Changelly by the way. With Litecoin at full SegWit activation I expect it to go towards another breakt hrough soon, it has a lot of growth potential. And Stratis...? Well it seems to be aimed at the C#/ dot NET realm of developement, that means a lot of Windows/ Microsoft even though there is also Mono support for Linux and Apple. And that is even better, multi-platform. The claim that Stratis will make Blockchain technology easy, well it might, there is a huge C#/.NET/Mono market out there. Therefore I do expect it to be one for the long term.
More Bitcoin and Litecoin
Well, like I wrote before, these are the digital equivalents for gold and silver. Trust and scarcity is what gives them value. And for some reason I expect Litecoin to become the safe investment haven in the coming months. One reason being that it did go SegWit, quite fast, with a lot of support backing it. And compaired to Bitcoin does it have a lot of growth potential short and mid term.
An uncertainty principle seems to be holding Bitcoin back, even while there was a BitMoney market growth avalanche. The drop in BTC market dominance is evident while the so called 'Alts' were causing actual avalanche. Yet there seems to be diferent approach to getting SegWit done for Bitcoin as well. With a User Activated Soft Fork {AKA: BIP148}, this might become a reality after all.
So I did get some Bitcoin too, besides Litecoin. Not because they are good for speed. They are very usable for large value transactions in the near future. Making them more and more expensive to buy. In relation to that I guess that Litecoin is still a bargain, as is Bitcoin even if transactions almost are costing an arm and a leg. If they are supposed to be the digital equivalent of Gold and Silver, well the transactions should become even more expensive. As small value transactions should not even be considered as they will just cause congestions.
Steem is, the next Generation
Like I did my best to explain in other post about this subject, Steem is the fastest kid on the block. If it where not, then me blogging here on a blockchain would not be possible. That is why I promote Bitcoin and Litecoin as the carriers of extreme high values. They can never compete with blockchains like Bitshares, Peerplays, Golos, Steem and the future EOS. Ten thousands of transactions per second, that Bitshares and Steem can do, compare that with the 3(!) on average Bitcoin does. While Litecoin can maybe do about 50, with SegWit in place. But, there is a difference between doing 3333, and counting, per second or.... Just 3! Bitshares proved that is already 1111 faster than Bitcoin!
They are one big family, Bitshares, Peerplays, Steem, Golos and EOS. Although technicly speaking Bitshares is Graphene based, while Steem runs on Chainbase. And EOS will be based on Chainbase, Appbase with a parallel processing scrypting language (Wren?) added. At least that is as much as Daniel Larimer, one of the EOS teammembers, wanted to share. But this project will be one to look for. As it is going to raise the transactions speeds even more. This parallel processing smart contract platform is expected to be able to do, at least, a few million of transactions per second.
And then we thought Steem was fast being able to serve as a Social Media Platform with the 3-2-1-DONE mantra. Well it seems EOS will be able to serve several blockchains like Steem, Golos, Peerplays, Bitshares and their forks at the same time. While adding several others doing Insurance contracts, land register contracts, diferent kinds of decentralized exchanges and more. All parallel processed like 1-2-3-BLOCK! (Did you know that even Ethereum might go DPOS, for the 1-2-3-BLOCK speed...?)
And this is good for Steem
Because Daniel Larimer developed Graphene, created Bitshares, that greatly evolved further with a different developement team after that. Then along came Steem, a dreamproject that Ned Scott and Dan started together. With 'only' a start capital for SteemIt of 220.000 dollar. Now there must be some happy investor out there somewhere... With Steem doing well, moving at the right track, with an excellent team making it even better, Daniel moved on to the next amazing project: EOS.
All these projects are Open Source, under MIT license, which means code can be going form one project to another. More and other gifted developers coming in to add their magic. And if you find it difficult to believe Open Sourca can make money, well does Bitcoin ring a bell. Or have you ever heard of Android and Linux? And of course Steem, this blogpost is proof, look at the payout it gets after seven days for instance. So yes, OPEN SOURCE does make money, BitMoney, like Steem.
Dan his reputation, his developement history, will also be a benefit to Steem and Bitshares when EOS is presented in New York at the end of may 2017. And this will get in a lot more attention for Steem, Bitshares and its family members that will influence the market. There might be a win-win situation ahead, at least that is my expectation. So part of my long term portfolio is Steem Power.
One thing is sure, while PivX seems to be on the rise, there are even more exciting times ahead.
Steem on and have a good one!
PS Only put in what you are willing and able to lose. And your speculation might be as bad or as good as mine.
Ready for the next big BitMoney rush
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