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Ouch ouch

So today my portfolio went down by a good 30-40%, I haven't really tabulate since Blockfolio server hasn't been stable which is reflective of the crazy market today.

Am I going to panic sell? No! That's the dumbest thing to do. I actually thought there's some coordination with all the various central banks, governments warning about cryptocurrencies this couple of days. I think that is logical, they need to warn the public because there's just too much blind followers and buying with no regard if the coins are really worth something. So someone is going to be burnt and the governments have to do their jobs and do a 'i told you so!'....

Well, time will tell if my decision not to cash out now is right....

Time to bargain hunt....

Results....

A month ago I mentioned in a post that I have went in and out of a token called QASH using their Quoinex exchange. It is an exchange that I could send SGD to so back in late Nov and early Dec, I wired a total of $8500 to my account to fund the purchase of QASH and ETH.

I did a few trades in QASH and ETH and haven't look at my account for a couple of weeks. Today when I revisited my account, I was pleasantly surprised that my original investment has gone up 6.5x.

You be the first to know when I hit 10x....that's probably when I will liquidate them to fiat, in time for holidays.

Few days no see

Was off to China for work last few days and completely missed the sharp reversal of some of the token prices. Now that I'm back, going to take a look at some of the tokens that are sold off quite a bit and take some position.

Top off my list will be Aragon, TenX and of course, ICN.


What I said on Xmas day

On Christmas days just slightly over 2 weeks ago, I posted a blog on my favourite coin - The Coin I Hodl and mentioned that $5 in 2018 would not be too far away. Well, at that point I think ICN was trading at $2.5 or so....

So today is 8th Jan and I took a double look at my Blockfolio and see that ICN has already hit that figure....

Today is a happy day...

PAY more?

So one of my holdings - PAY (TenX) has been declining since yesterday as their key card issuer Wavecrest suddenly stop all the cards on Visa's notice. This is not just affecting TenX but also other crypto cards like Bitpay, Xapo etc and it does seem to be a Wavecrest specific issue. The CEO went live yesterday to give some background and promised to provide more information this couple of days since he just got back to Singapore, but he is clearly optimistic and believe this is an opportunity instead.

Obviously there's much panic amongst holders especially when Bittrex is also having some issues which I feel is not just specific to Pay but generally the tsunami of new crypto users are stressing many of the exchanges platforms. I think I will take the opportunity to buy more Pay since I believe the team and business model and this blip will provide a good opportunity to build a more meaningful stake.

Iconomi 2 weeks ago....

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About 2-3 weeks ago when I started blogging, ICN was mentioned a few times:

Couple of coins I like

The Coin I Hodl

Back to my favourite coin - Iconomi

My last post was 6 days ago when ICN price was $2.25 or 0.003 ETH. Today, it hit a high of $4.46, bumping up my portfolio nicely.




Think it is high and shouldn't go in? I still think ICN is undervalued at this price and once people wake up to the potential of their platform, $10 is easily within reach. For reference, this is ICN's overall chart. At the peak in ETH, it was trading at 0.058 ETH, today it is at 0.00423. I'm beginning to use ETH to think of my returns as I need to convert to ETH before I can cash out to fiat. I can't wait for ICN platform which will allow me to directly cash out to fiat so have fun doing your homework!



FOMO, Sharing...

So I know there's a couple people at work that has invested in cryptos...few months ago when prices were not as crazy, chats around this topic has been pretty casual....lately, I noticed a couple more people at work has started to invest in cryptos, and the other fellows that I know has invested earlier, seems fairly tight lipped and even look uncomfortable when the newbies talked about it in front of them....

Why is that? I can imagine talking about it infront of newbies or laymen might make me sound crazy (another ponzi!) or they might even think I'm loaded with bitcoins. So perhaps there's a reason for such caution behaviour though I doubt people will kidnap me since I have zero bitcoin and not in Ukraine.

So what I observe is that people are more at ease to freely share crypto information on social media behind pseudonyms such as moi, than to share to their friends and families. I brought it up, got ridiculed so I shut up. I imagine many people experiencing a sudden incr…