Cryptocurrency Experiment, 3 Month Status Update
In early August, I wrote about my experiences learning about cryptocurrency, and my first dive in to purchase a few coins. Stemming from my disappointment on missing the boat with Bitcoin’s tremendous growth over the last few years, I wanted to buy some other coins and see what happens with them. I purchased 21 different coins, totaling $57 ($65 before fees…I wasn’t very efficient with my purchases and transfers).
Original article, August 2017: https://jonamdall.com/2017/08/10/cryptocurrency-exploration/
Three week follow up, September 2017: https://jonamdall.com/2017/09/01/cryptocurrency-revisited-3-weeks-later/
It’s now been over three months since that purchase, and I thought it would be interesting to check in and see how this collection is doing. I’ve included some graphs below. The overall value has doubled, and the distribution has shifted a bit as a few coins have grown significantly in value. The two charts show value changes from the initial purchase to today; one in percentage change, another in raw U.S. dollar value change. These percentage/dollar charts are color-coded, with orange representing “the big boys” (primary trading coins), blue for potential windfalls (cheap coins I bought a lot of), and gray for everything else.
As it shows above, a few of these coins have surged in value; particularly Bitcoin (of course), Monacoin, Vertcoin, Verge, Feathercoin, and Pinkcoin, which have all increased over 100% from when I purchased them. When I last checked in on these three weeks after the initial buy, Pinkcoin, Litecoin, and Ethereum were the front-runners. While these coins are still doing well, others have jumped even higher. It is interesting to see the coins that are consistent risers though; we may start seeing somewhat reliable trends for these.
Along with the winners, we also have some losers though. Some coins, such as Digibyte, Blackcoin, LBRYcredits, and Game Credits were either static or slight money losers after three weeks, and looking again at three months that trend holds. We will check in again in a few months, see if this all continues!