I have dabbled in Cryptocurrency previously, mining Quarkcoin on my laptop in 2013 when it first came out...which didn't go anywhere. I also loaded the program on computers at UCSD and hoped that nobody would Somewhat of a contrarian, and unwilling to spend any real $$$ on bitcoin (not having a sizeable war chest either), I bemoaned the fact that mining was unfeasible...in fact, this was the time when the first "retail" ASIC miners started coming out. I also mined Protoshares and Litecoin, Litecoin via pool. I just tried to find my pool and, well, I don't think it exists anymore, and I don't think I ever had enough coin to withdraw either. And if I did, I lost interest far before, since my PC could hardly make a dent. I have 0.2 protoshares in my wallet, which says there is no block source...but that could just be because I never updated the software. With these going at $0.05, however, that is unlikely.
So, after taking a long "break" from crypto, after deciding it had no relevance to my real life, I am back. I purchased some ETH for $310/coin and BTC for $6K coin, much higher prices...in fact, ETH wasn't even around when I was looking at this stuff.
All in all I plan to commit X amount of capital in a partnership style arrangement, 40% my money, 60% another investor's to the crypto world, and, I guess, have fun! We'll see if we can't participate in some ICOs, do some trading, and potentially ride the crypto wave upward while trying to avoid losing coins though poor transfer practices, theft, etc. In the meantime, I will continue to trade in traditional markets as well. Perhaps I can get involved in some of the projects to increase my coding skills as well, since I am intent on entering the dev space...coding is simply an important skill at this point I think...more important than building hardware--sadly or not. Coding still allows freelancing and freestyle, whereas hardware requires complex processes--except for the simple stuff, which I can accomplish with analog components...or if things get more complicated, analog components + microprocessors...and to work with these (say Arduino) I NEED TO KNOW C+! There's just no time in the world to custom-build everything, one must make use o existing technologies.
Obviously one might guess that my eventual aim in this endeavor is 1) to build profitable trading algorithms and 2) to have a career as a base from which to launch my personal lie and business interests.
In any case, I don't believe that Crypto-currencies, at least in their current form, are going to keep risi9ng in price etc. forever, but perhaps I could be wrong. I certainly don't believe that bitcoin will remain the premier currency unless it involves. Faster transaction times, more transaction scopes, lower transaction fees...and really, who likes paying with .2 of a coin for an expensive purchase? This will probably be prohibitive. I could see a coin where $20 is 1 coin or something, maybe even $100 is 1 coin, that would be nice, but quite the reverse gets a bit problematic in my opinion. Bitcoin also only has 21M coins possible to distribute, and I would assume that at least 1M of them have been lost or forgotten, in fact, I assume the amount is probably a bit higher.
Also, the security of the crypto space depends on ridiculously large numbers, and the inability o computers to brute-force raid wallets as a result. Although hackers are constantly monitoring wallets created by common phrases and expressions, and once a payment goes into them, it gets taken out. I have seen this with the brain wallet created by "to be or not to be". You know, a brain wallet is an interesting concept though. like a humanly-memorable pass-code. I like the idea.
With all the effort I will be putting in this space, it is imperative that I learn to trade better.I am simply bad at human trading...ok, maybe not BAD, but not excellent--which is what I want to be. I am hoping of course that computers will allow for intelligently created, and very flexible trading systems. I might need to join a quant and to hone these skills. For sure, as soon as I--and even sooner than I become a developer, I will put this to work. In the meantime, manual trading it is for myself and my investors, looking forward to the future launch of my funds! Lots of work
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