Patience is Difficult With Cryptocurrencies

2017 has been an incredible year for Bitcoin! But not just Bitcoin--if you had invested in almost any of the coins in the top 100 at http://coinmarketcap.com you would have had a great year. The problem with a year like this is that it completely spoils you. 10% in a year for a good mutual fund? Why not in a week? Why not in a day? Why not in an hour? Bitcoin started the year around $1,000 and is now trading for more than $11,000!

Once I started trading, I was chasing the next opportunity and the next. At first I was content with the coins listed at Poloniex, but then I needed some that were only listed at Bitfinex. And then a few more from Binance. And then, and then, . . . it was like a smorgasborg buffet and I wanted to try a bit of everything! The result was that I was so spread out that I could hardly keep track of which coins I had put money into, and whether they were up or down from the time I bought them.

When it got too crazy and I was spending too much time chasing trades I decided to consolidate to 4: Iota, Dash, Bitcoin, and Ethereum, in that order. Iota has been my #1 pick for a couple of months, and this past week it really jumped forward! (>100% gains!) I think it will continue to go up for quite some time. [Edit: added this chart showing the IOTA train leaving the station!]

But, as I said with my title, patience is difficult. Things have been moving so quickly that it is difficult to spend time building websites, writing blog posts, etc. Still, I come back to WA again and again, not because it has made me lots of money but because this is a great community focused on building real value--websites of value and relationships of value.

I feel like I should close with a big disclaimer: I am NOT a financial advisor, and investing in cryptocurrencies carries a lot of risks--do not invest more than you are comfortable losing, and be very, very careful! Having said that, I will admit that it has been an amazing ride on the cryptocurrency roller coaster, and it's something I will keep up with. This is a very big wave and it is not going away. Feel free to contact me if you have questions on how to proceed--I would be happy to offer you a hand.