I was lucky enough to be one of the 1100 people who managed to get in on the Populous ICO. Lucky I say because as of today, populous is trading at around 1000% of it's initial ICO price. It was up 3200% at one stage.
Remember, just to put things into perspective, a good hedge fund returns 5% a year. Cyrpto potential returns are in another league.
I invested in populous because of Clif High's recommendation. Not all of Clif's recommendations have went parabolic but I did realize, they don't have to. You only need 1 out of every say 10 cryptos to do well and you're in good stead.
I have a portfolio of around 10 Crytos, half of them are down as of today but I'm holding tight and will sell into strength or hold tight as I see fit.
I really like Clif's screening process. He focuses on coins that pay back into the eco system. In Populous's case, interest paid on invoice financing is paid back to the populous token holders. I think it's a really sustainable model and it makes sense but it remains to be seen how this will be executed, how solid the management team are etc. That is to say, Populous is still a big risk.
Clif recommended Tenx as well in one of his reports which tanked below it's ICO price after it was released on the Bittrex exchange. I think Tenx has a really rosy looking future because again, part of the commission paid by transacting on the Tenx Visa Card is paid back to the token holder. Tenx's PAY token is a nice way of being able to chose which crytpo you want to use to pay for real goods. Also, the ICO, management team communication, webpage, twitter feed and ICO process etc was a class act. It gave me a lot of confidence in the token.
What I've realized though is that no matter how many small to medium investors with "good intentions" are out there to keep the price of recently ICO'd coins steady because they're staying "strong and long", money is money and investors are going to sell for a profit. There are no regulations in the crypto world and a big player coming into these markets is going to "pump and dump" with a short term view of profiting big and exiting with or without residual holdings of the cryptocurrency they've just ravaged.
According to the populous tweet today, the reason the price fell so drastically in the past few days is because "one big investor" was taking profits but had almost finished "pumping and dumping" the coin. No doubt heavily involved in taking the price down 80% in the last few days.
Let's be honest, we all want to make money. I shed some of my populous to pay for my son's school this year and a few other debts.
I want to believe that populous is a long hold, it certainly seems like a great idea however, having a chunk of coin in the bank account would certainly make life for my family and I a lot more comfortable.
Whatever your belief system, crytpos are still wild western type investment. Very few rules and regulations and I'm pretty sure there is no regulation against for instance holding a large stake (e.g. 50%+) in a company/ICO or whatever.
Exchange your cryptos, pay off your debts, fatten your bank account and don't feel one bit guilty about it (I'm still holding 75% of my Populous though). The pump and dumpers are getting richer and richer and are going to make you feel bad about not selling closer to the top after they're done and moving on to the next ICO. This is a chance for "we the little people" to gain significant wealth, however, don't forget to take profit!
Really a great Post, Thank you for your insight.
Thank you very much, stokjockey. I will return the favour :)
good advice and i like your options for investment - am keen to get a few cheap ones and see how it goes - am happy to follow you in support
Thank you so much. It's really encouraging and I appreciate your kind words :) I will return the same in kind.
Great post. Followed, resteemed and upvoted.
Wow thanks you so much for your kind comment. Same back at you :)
Great post with a lot of info. I also believe these crypto currencies will shoot up.
Much appreciated, thank you for reading and taking the time to comment. I look forward to following you on steemit.