RE: October 2019 recap - Recovering (a bit)

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October 2019 recap - Recovering (a bit)

in cryptocurrency •  9 months ago 

I started to take some moonshots at altcoins with a working product that got beaten down 99%, some new altcoins that haven't got bag holder who will dump them at the next pump and some projects that pay dividends.

With all the wars and "newsteem" bs that have been going on on this platform, I'm no longer enjoying it and I'm quite bearish on Steem. I started powering down to reinvest in some of the more promising coins until there is a reason to believe Steem can actually work (current model is as broken as can be) and have valid reasons to power up.

The altcoin fomo is real hunting for something that has the potential to outperform Bitcoin :-)

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It's true that a lot of alts don't are not the best investment. That's why I only invested in ETH and Steem. Steem isn't looking good indeed. I'm happy I have some BTC, so hopefully the mother of all crypto will save the day...
Do you plan to stay active on the platform? The @upvoteshares initiative can't do without you I suppose.

The Alts are often hit or miss, but I like the gamble they offer as it's quite inevitable some will make it in the longer run.

I will stay active as I mainly make my content for myself regardless of the post-earnings. I will also continue the @upvoteshares project and still like to play the daily steemmonster meta-game. I will all put less time into all of it though. I mostly mentally left the platform as I just can't relate with any of these new rules and don't see a single reason anymore for anyone to power up while plenty of reasons to just cash out. We'll see where it all goes, I guess it won't be long before it becomes clear that "newsteem" does way more harm than good.

I see. I also feel that the changes didn't improve the system at all. I've continued to power up but you might be right that powering down could be a better strategy now. I'll have to think it over a bit more.
What are the alts you are watching right now? Any interesting new kids on the block or more the longer existing ones?

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I've been fomoing into Betterbetting (BETR), it was the first thing I bought with some of the Steem I sold and it has doubled in value since. One of those betting projects I am actually using myself. Right now it pretty much limited by Ethereum while they are looking for solutions.

I'm also fomoing into SBET which is a new bookie on EOS that pays weekly dividends to tokenholders. Looks legit even though I still have some doubts.

Some others that I haven't got yet but which I'm looking at are Enjin, BAT, RAVEN, Nash Exchange, Matic, Tierion, RCN,Crypterium but haven't done the needed homework yet.

The idea is to power down partially and hopefully outperform Steem to convert it back if this blockchain ever gets to a point where it actually becomes viable. Right now it's nothing more than ponzi game where everyone just want to get a piece of. It doesn't have anything to do with blogging, let along building a real community. It's quite sad what this platform has turned into.