I'm still buying NuBits and sometimes it is a weird feeling because a constant mental struggle I have with other projects besides STEEM is that in a way they can't work for me and I can't work for it oftentimes. Now with NuBits since it is pegged to the US Dollar the play is that the coins I sold to initially get NuBits would have to drop below what I sold them for to make this strategy profitable compared to just HODLing. Some coins have dropped below what I sold them out for.
Some of the altcoins are lagging behind Bitcoin and a couple other major alts. All things being said I would have been better off buying Bitcoin, Litecoin, or Monero with the money I put into NuBits but I have been better off with NuBits than I would have been if I would have just held the altcoins I sold. Hindsight is 20/20 and the timing is almost impossible to predict. @ace108 was right when he replied on my last post about NuBits. He said he was going to BTC first because he felt like the Chinese New Year situation was going to prop up the price of Bitcoin. Also we didn't know that Litecoin Cash would really become a talking point as well. I checked my balance for that and it was totally incorrect and a lot of people that tried to sync the Litecoin Cash wallet couldn't get any balance to show at all. So who knows what is going on with that. I'm going to wait a couple of weeks to do anything with all of that.
Strategy Going Forward
I'm going to keep buying NuBits until I hit a certain threshold and then I'm going to use that as a little piggy bank to buy coins back and average down on projects that I'm at a loss on but I still think are good projects. If the market really knifes down then that is where this strategy will really help me out. I still think Bitcoin could have a harsh pullback to $5,000 or under to hit a "lower low." But who knows..... this stuff is unpredictable. The NuBits strategy is still under 10% of my holdings. I would be best off if the market temporarily goes real low..... I'm able to buy and then it bounces like a superball real quick.
After I hit my threshold which will be soon I'm going to start converting most of my SBD to STEEM and powering up. The last price point I bought STEEM at was $3.68 so we will see if it goes under that and I will try to get some more STEEM Power.
If you want more information from my last two videos where I referenced NuBits check these out!
Nobody really knows where crypto prices are going in the short term. NOBODY! NuBits will likely be around $1 though. :-) I don't regret buying NuBits! We will see how the strategy plays out.
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Man sounds like you’ve got a good plan. I was buying up all the ltc I could but I just recently switched to ethereum classic. But for the past week or so I’ve just been reinvesting all of my sbd earnings back into steem. With the price of sbd ahead of steem right now it’s still a good time to accumulate steem power. It’s a solid long term strategy for me, assuming he price of steem will go up, which I think it will eventually.
I agree. I think that everyone is at a different point in their STEEM Journey and I think long term if a person can get out ahead with the STEEM Power then it makes a lot more sense for them long term for sure as a content creator.
I was thinking Bitcoin was going to go on a little run here, however looks like it pulled back.
I started following some signal and P&D groups on Telegram recently, I don't put too much stock in them and don't really trust them but if I find something in there that coincides with my own opinions I'll typically go heavy. Had made some pretty good money for a couple weeks, made a killing when VeChain went on a little run. Then got greedy and bought into Salt and PIVX just for some short term trades and have gotten slaughtered the past couple days.
I don't know a ton about SALT but from what I've heard Salt coins can be used to pay back loans at a rate of $25 per Salt. I know there's a backlog of people waiting to get loans but I was thinking what's to stop someone from taking out a huge loan, then buying Salt on the markets for $4 and paying back your loan with that Salt which is apparently valued on the platform at $25? Seems crazy to me.
I reviewed SALT a couple of months ago and the baby back n00bs tore me up in the comment section on YouTube. A lot has changed in the couple months with it but I hadn't even heard of the $25 SALT value on the platform.
So where or which crypto currency platform has nubits? @brianphobos
It's on Bittrex and a couple of other exchanges.
Do you know about Bittrex invite codes? A bunch of people at my Bitcoin meetup who aren't on Bittrex have been asking me for an invite code? Is that something I can give out or does it have to come from Bittrex?
I thought it was just Bittrex giving them out for people waiting in line. I don't think a person can give them out but I may be wrong on that. As we go forward in the future I think I'm going to ween myself off Bittrex
Same here I've recently been selling and consolidating and moving my Bittrex funds either over to wallets or to Binance
Oh! Thanks ;)
You have encouraged me alot,i think i will check out NuBits
not heard of this coin i must admit