Just a little left
Bought Litecoin {LTC}, Komodo {KMD} and Digibyte {DGB} instead.
No more Dogecoin either
To me this was a big deal and the timing was right. Transaction costs for BTC were extremely low, even at the highest setting. In no time I settled it inside the Coinomi Wallet. And there I was, left with Litecoin, Komodo , Digibyte and a little Bitcoin. This time I ignored all the FOMO {Fear Of Missing Out}, BTFD {Buy The Fogging Dip} and FUD {Fear Uncertainty Doubt} that was scattered all over the place. Same old, same old, nothing really changes in some ways. So I sold all the Coins / Tokens that I thought were going nowhere, way to low numbers in 24 hour trade volume. That was step one, where I had to take some loses on the sale. And as ARRR {Pirate Chain} was one of the excelling ones I decided to keep it. Just like I still have some HIVE staked, but that is about it. Made the choice, did the trades and all that is left is a little bit of BTC.
Digibyte had been out of my field of attention for quite a long time. And I came across it again because I had started to use Komodo's Atomic Dex quite frequently. That was a reason for me to buy a stash of KMD {KoMoDo}, which grew a lot more today. To HODL Komodo means getting rewarded in KMD. No need to lock it in a stake system, just keep it in the Wallet / Dex. A minimum of 10 KMD, HODLed for at least an hour, already adds to the reward to be claimed. Besides that I like how the Komodo team made using Atomic Swaps a piece of cake, especially in the Mobile Apps. Furthermore the basic idea of the Komodo Smartchain setup is something that I think has a lot of potential. Too much stuff to dive into right now.
There is one Komodo related thing that got me to exchange BTC for LTC. And that is the concept of Delayed Proof Of Work {dPOW}. An extra security measurement that can prevent blockchains from a 51 percent attack. Not to state it is impossible but it becomes highly improbable with dPOW activated. For this protection system the Komodo development team first used the Bitcoin {BTC} blockchain. Quite an expensive solution and not the fastest one either. Therefore from the 15th of june 2021 the dPOW system will move over to the Litecoin {LTC} blockchain. Resulting in a much faster and a lot cheaper setup. Also the Litecoin blockchain is about to signal its Mimble Wimble sidechain activation. Which also will open this option for other blockchains. To me reasons to also swap some BTC for LTC.
The new bronze
And Digibyte {DGB} to me is now the new 'bronze', kicked Dogecoin out off the building. DGB has so much more potential than DOGE and it has a limited amount of Coins to be issued. Digitbyte supports SegWit, has several mining options and does 15 seconds blocks. Just like Komodo it is fast, well even faster. And one other aspect that really got my attention is the Assets implementation. With Smart Contracts capabilities and the use of Digi-ID making it easy to login using the Digibyte and Coinomi wallets. The Assets created on the Digibyte blockchain already can be bought and sold. To me good reasons to see a lot of potential in DGB and almost sell all of the BTC I had still left and stack more Digibyte. The future will tell if I made dumb choices or it did make sense.
It does feel a kind of odd having ditched most of my Bitcoin {BTC}. Yet I do see a lot of potential in the Cryptocurrencies that I stacked instead. And there is this song that plays it my head, I think it was by PIL {Public Image Limited}, that goes like: "I could be wrong, I could be right.", seems to fit. To actually make it happen seemed like a big deal, but it was all over and done with in a jiffy. The KMD amount I now HODL in the Komodo Atomic DEX wallet is already generating reward values very fast. If you have several UTXO {Unspend TransaXion Outputs} amounts in the wallet, just send all to you receive address and wait for an hour. But be aware what you are doing, if you have never done this before, send a little first. Transaction costs are very low, so it wont hurt. Or first have a go with the free Rick and Morty (Test Coins, can be sold for real ones sometimes though) from each of their faucets. And while I promote caution, there's this advice to only invest what you are willing ,and can effort, to lose.
May the Cryptos be with us!
Digibyte really delivers
Screenshot taken at https://digibyte.org/
That seems a pretty bold move to me but it's nice to read about someone doing something different. #nsm
Posted Using LeoFinance Beta
Somehow I felt like doing this for the last couple of days. Was not yet sure how much of each, but today I made a final decision. Will be interesting to see how this developes.