Cryptocurrency News & Discussion

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The original was posted on /r/cryptocurrency by /u/Horror-Badger9314 on 2024-01-22 12:06:53+00:00.

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I have invested $ 200 in this just for testing.

I’ve have set the Binance bot to operate in a technical analysis at BNB, resistance an support for the last 7 days.

The bot was supposed to buy at a 0,23% move down and sell at a 0,28% up.

During 3 days it made 22 operations.

The final result: two cents profit.

Result if I just have bought and forgot BNB for two days: a loss of 2 dollars.

This could be considered a good result but it’s peanuts. Because the bot would need maintenance and if the market moves fast it will be out of its range. In a real bull run or a crash the price would move so fast that will be out of the parameters.

The real winner was Binance: 22 transactions fees.

Any results to share?

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The original was posted on /r/cryptocurrency by /u/crypto_dood on 2024-01-22 11:47:21+00:00.

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hi,

i haven't transferred anything in the last months, and haven't followed the binance deposit/withdraw news lately. but i want to top up my funds (so i can buy a lambo much earlier). :)

after sepa transfers were stopped for a short period of time, there are three sepa options available.

1. one that automatically exchanges euro to usdt. (0,5€ fee) (0-3 days)
2. one that costs 1€ per transfer (no auto-exchange) (1-3 days)
3. on that's called open banking with 0,5€ fee (0-7 days) which looks like it's the same lithuanian banking partner as before.

now, previously i always used an instant transfer from my bank, and received the money within 10 minutes (usually), sometimes it took an hour or two, although it said 1-3 days.

i wonder, has anyone tested the deposit options already. can anyone tell me what thhe costs of exchange are?`I assume it's 2%, similar to the convert tool.

is an instant trnasfer still possible, if i choose open banking or the 'regular' SEPA transfer?

thanks.

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The original was posted on /r/cryptocurrency by /u/drjacks on 2024-01-22 11:32:45+00:00.

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The original was posted on /r/cryptocurrency by /u/13Robson on 2024-01-22 11:02:48+00:00.

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Good morning!

As much as I have liked them, and followed them over the years, Coinbureau is pretty much dead.

They became more of a hub for worldwide conspiracy theories and Guy now only shills his new elite club while sharing shitcoin videos with the plebs. Overall quality went down for a while, now its just below any critique. Quite sad, but it is what it is. but let's move on.

What sources do you use for your reserach?

Would be best someone who dribbles in multichain and who does not promote rubbish projects and flat out scams.

Would prefer Youtube or podcast content. Please name a few and give a short introduction if you dont mind.

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The original was posted on /r/cryptocurrency by /u/cistro on 2024-01-22 10:48:57+00:00.

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Maybe it’s just a personal observation, but up until now, Bitrefill has been my go-to method for making purchases using cryptocurrency. It’s always seemed convenient and reliable. Unfortunately, I’ve recently encountered a frustrating issue: every time I try to buy Danish PlayStation store gift cards through Bitrefill, they’re sold out. This has put a bit of a halt on my gaming plans, and I’m looking for some advice on how to navigate this situation.

Has anyone else faced this problem? More importantly, does anyone know of any alternative methods or platforms for purchasing items on the PlayStation store using cryptocurrency? I’m open to exploring new services or even unconventional solutions. Additionally, if there are specific strategies to avoid this kind of inconvenience in the future, I’d greatly appreciate your insights.

I’m particularly interested in hearing from those who have navigated similar situations or who are knowledgeable about the nuances of crypto payments in gaming contexts. Any suggestions or recommendations are welcome!

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The original was posted on /r/cryptocurrency by /u/Raj_UK on 2024-01-22 10:23:27+00:00.

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Hi CC

I've never used leverage, but I had a thought about seemingly low risk way of using it that makes use of the highest possible leverage I can find which sounds counter intuitive I know !

Just wondering why it wouldn't work, so here we go !

1. Find exchange with 1000x leverage (would work with 100x too)
2. Go long for $10 in BTC (am I correct in thinking all I can lose is $10 ?) On 1000x leverage, so every 1c it goes up I gain $10 and I get liquidated if it goes down 1c
3. Wait for BTC to change in value 1c to liquidate me or go up $1 at which point I'll cash out $10
4. I'm assuming that price changes will be more than 1c per tick, but won't my exposure be $10 when I lose, but no limit on the upside cap ?

Eg it goes down 1c in a tick so I get liquidated and lose my $10 It goes down 5c in a tick so I get liquidated and lose my $10 not the $50 (or will the exchange contact me and say I owe them $40 more and they'll freeze my account until I pay that ? Which would kill this plan, and sounds reasonable of them to do so when I type this) It goes up 1c in a tick so I gain $10 It goes up 5c in a tick so I gain $50 and cash out and restaje $10 banking $40

1. Win or lose, go back to and repeat step 2

I'm assuming BTC is so volatile that noise on the price will either trigger my liquidation or my sell for 1000x profit on a pretty much 50/50 basis but the times I win will be more than 1c change in price

So what am I missing ?

There must be a reason this wouldn't work, do exchanges want more margin for higher leverage multipliers for example ?

Any feedback would be appreciated

Cheers

Raj

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The original was posted on /r/cryptocurrency by /u/kirtash93 on 2024-01-22 09:35:02+00:00.

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The original was posted on /r/cryptocurrency by /u/fap_fap_fap_fapper on 2024-01-22 06:48:49+00:00.

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The original was posted on /r/cryptocurrency by /u/FitScore3115 on 2024-01-22 05:16:38+00:00.

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The original was posted on /r/cryptocurrency by /u/Gastellier on 2024-01-22 04:37:19+00:00.

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The original was posted on /r/cryptocurrency by /u/mihaiioo on 2024-01-22 04:21:14+00:00.

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Me and my friend like gambling small ammounts for entertainment, think cents and pennies, we tried everything and eventually got bored of it all, this is the last fun thing to do with spare change, so is there like a gagilion X leverage on any platform?

I found a 500x one and a 1000x one but both seem shady websites so i'm asking you guys what legit platform provides the most leverage, i know most platforms provide 100-125x but more zeroes means more dopamine XD

P.S. yes i know the risks i wouldn't do this with money i couldn't afford to lose

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The original was posted on /r/cryptocurrency by /u/francis105d1 on 2024-01-22 03:29:14+00:00.

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Bitcoin enthusiasts often champion the Lightning Network (LN) as a solution to scalability issues, but certain inconveniences are often downplayed. In this article, we'll explore some of the challenges associated with LN that supporters may not readily disclose.

Bitcoin faces scalability constraints due to a 1Mb native block size limit and the 4Mb SegWit limit. Despite advancements in computer hardware and internet connections, the network struggles to scale. Current computer hardware and internet connections can support a 32Mb block-size network without compromising the decentralization of the nodes.

Using Lightning Network in a self-custody decentralized manner requires users to open on-chain channels, each involving at least two transactions. Maintaining a public or private node necessitates holding a minimum of 16 channels to remain decentralized, resulting in additional transactions. Even when batching transactions to open channels, individual transactions are still required for closure, tying up funds until the channel is closed that fee is called a reserve fee or commit fee.

Upgrading hardware, especially on mobile devices, poses a challenge as nodes cannot be easily backed up and transferred. Users must close channels, and start anew, incurring transaction costs for closure and reopening. With mobile phone upgrades occurring annually, this translates to a recurring cost of at least 16 transactions annually. You need to pay at least 16 transactions at $50 (enough for your LN node to be decentralized) a pop which is enough money to buy yourself a better computer and HDD and run the Bitcoin Cash BCH node

While this issue is less problematic for computer users, running a node on a computer requires a level of technical expertise. Being a supercomputer user is essential initially, and maintaining connectivity from a mobile device further complicates the process. Running open nodes on computers is not easy, you need to have fair computer knowledge and I will go as far as to say probably a computer science degree. You can backup your node but you need to know how.

For those who prefer avoiding these complexities, self-custody wallet solutions like Muun and Phoenix Wallet offer a more straightforward option. However, it's important to note that these wallets, while an improvement from custodians, remain centralized as they only allow connection to a single node (the developers' of that node are the developers of your wallet).

Bitcoin supporters often promote LN as a step towards mainstream adoption, likening LN accounts to wallets. However, these LN "wallets" are more akin to bank accounts without the insurance typically associated with retail bank accounts. Services like Wallet of Satoshi, Strike, and ChivoWallet are touted as symbols of Bitcoin adoption, but users should be aware that they lack the financial protections offered by traditional banks. In the event of custodians facing insolvency or malfeasance, users may find their funds uninsured, unlike regular bank accounts, which typically provide coverage against such risks and do so without the high upfront costs associated with LN transactions.

Bitcoin Cash on the other hand remains decentralized thanks to computer hardware improvements so running a 32Mb block-size blockchain is possible on every home with a regular computer and your current internet connection. And if you need 16 transactions to remain decentralized with LN you better just upgrade your node software instead of paying miners over $800.00 every time you upgrade your mobile device.

Conclusion: with Bitcoin BTC you will be able to run a node with 1998 hardware but you won't be able to use it. With Bitcoin Cash, you can buy a new computer to run a BCH node with the money you will save on fees.

All Lightning Network wallets are hot wallets because they must be online to work.

Phoenix Wallet may allow you to restore your channel state but you only connect to the ACINQ node so that means your wallet is centralized and because it only connects to one single channel it can be restored by the node operator.

Article from

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The original was posted on /r/cryptocurrency by /u/Savi321 on 2024-01-22 03:23:05+00:00.

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The original was posted on /r/cryptocurrency by /u/d3jok3r on 2024-01-22 01:45:08+00:00.

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Sometime, the best way to win is to make sure that you'll stay away and survive from key events.

The more we look at the factual ETF trading data (until day 6 or last Friday) and insight information shared by highly credible and experience folks like Eric Balchunas (Bloomberg Senior ETF Analyst, one of the best crypto EFT guys) or JA Maartunn (CryptoQuant Comm Manager, the "crypto market watcher guy"), the worse the current situation seems to be.

What we are all probably be aware of the current situation is:

• (1) Grayscale is selling BTC via Coinbase's OTC. And they are selling damn hard every single day last week.
• (2) People are buying the newly approved BTC ETFs at a remarkable rate.

The BTC ETF money flow can be seen in this tweet of Eric Balchunas (and I also copy/paste the figure here for your quick reference).

What we previously assumed is:

• A lot of folks are simply exiting their Grayscale's GBTC position and swich to the other ETFs to save fees/costs. Hence this is kind of a simple swap and will not have any impacts on the market overall.

HOWEVER, IT SEEMS THAT THIS ASSUMPTION IS NOT TRUE.

IT SEEMS THAT A LOT OF THE OUTFLOW FROM GRAYSCALE'S GBTC JUST SIMPLY LEFT THE MARKET.

And majority of the inflow of other ETFs (Blackrock, Fidelity, etc.) are purely new people joining the market.

Why this is important and what is the potential impacts?

This is critical because it means that:

• There are still a lot to sell from Grayscale's end. And it's hard to know when they will end this. More importantly, this huge amount of outflow is actually leaving the market for good.
• The buying power from the other ETFs is mainly from new investors hence will likely cool down very soon. They already reached a historic inflow record for a new ETF. And it's just hard to believe that they have a lot of ammunitions left in their tank when both dXY and interest rate is still at the significantly high value (i.e. people are likely to keep their cash in the short term).
• There might be a significant amount of long positions below 40k BTC. And if that support level is broken, expect a cascading liquidation effect. That support level, unfortunately is pretty close now (we are at ~41.6k at the time of this writing).

So what do all of these things mean?

• You should be highly cautious and stay away from leverage (especially long)
• You should watch the in/out flows of these ETFs. If you see a significant downturn of folks in "The Nine" group ad Eric called it, there's a great chance that BTC will enter a downward spiral and only Satoshi knows where this bloodbath will end (we think it'll be around the rank 30k-35k if this happens).

Eat well and stay away from leverage and you'll probably be fine.

All the best.

Latest BTC ETF flows (from Eric Balchunas)

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The original was posted on /r/cryptocurrency by /u/Joe_Bob_2000 on 2024-01-22 01:35:52+00:00.

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The original was posted on /r/cryptocurrency by /u/francis105d1 on 2024-01-22 01:01:25+00:00.

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In this article, we delve into the concept of stablecoins uniquely tailored for the CashTokens ecosystem. Unlike traditional stablecoins, this proposal suggests the creation of a stablecoin exchange by a centralized entity, meticulously backed by Bitcoin Cash. Before passing judgment, let's focus on the message and not crucify the messenger.

Recent developments, notably by CauldronSwap and other entities, aim to introduce a stablecoin into the CashToken ecosystem. While some may perceive this as concerning, given potential challenges for the Bitcoin Cash economy, it's crucial to examine the risks associated with a Liquidy LUSD asset. Users adopting a similar approach to LUSD to generate tokens may encounter smart contract vulnerabilities and susceptibility to sudden market movements leading to loan liquidations.

Looking at El Salvador, a country embracing Bitcoin as its official legal tender, we observe an open invitation for cryptocurrency investment. Beyond the political landscape, it is essential for corporations and startups eyeing El Salvador as a hub for their ventures to find stability in governmental policies. A steady environment is crucial for businesses navigating the complexities of international operations.

El Salvador currently operates with Bitcoin and dollars as its legal currency, allowing for traditional banking practices. The proposal suggests the creation of bank accounts supporting a stablecoin token alongside hard cash. This parallels the model of corporations like Tether but within a regulated framework.

Access to such accounts would be restricted to regions with friendly regulations. Notably, Americans may face limitations due to stringent government oversight, but for fully KYCed clients, inclusion might be possible, akin to services provided by entities like Circle.

Rather than introducing another standalone stablecoin, what I am proposing emphasizes the utilization of mUSD once available. Users can opt to hold this stablecoin in their wallets or seamlessly convert it into cash using an exchange-like service, reminiscent of Tether. This strategic shift positions the corporation as an exchange service provider rather than merely a stablecoin issuer.

I conclude by pondering the potential reception within the Bitcoin Cash community. Will this business idea attract investors and entrepreneurs eager to contribute to the evolution of the CashToken ecosystem? The future success of such a venture may hinge on community support and its ability to navigate the intricate landscape of cryptocurrency markets.

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The original was posted on /r/cryptocurrency by /u/brian-augustin on 2024-01-22 00:44:47+00:00.

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edit: USA

I tried to time the market a month ago, had a stop order limit for a certain amount of BTC, it sold everything, which I knew it was going to do but didn't even consider taxes cause I thought you get taxed if you withdraw.

I just checked my tax form on the crypto exchange and it says I have $X,XX.XX amount of gains.

Its listed on the exchange as

Outgoing FROM 0.XXXX BTC ---> Unknown Estimated Tax Impact $X,XX.XX

When I report this during my taxes will I get taxed for the sell? - Even though I don't think I made profit?

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The original was posted on /r/cryptocurrency by /u/CryptoDaily- on 2024-01-22 00:01:07+00:00.

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Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating.

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Disclaimer:

Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

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Rules:

• All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
• Discussion topics must be related to cryptocurrency.
• Behave with civility and politeness. Do not use offensive, racist or homophobic language.
• Comments will be sorted by newest first.

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Useful Links:

• Beginner Resources
• Intro to r/Cryptocurrency MOONs 🌔
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The original was posted on /r/cryptocurrency by /u/kirtash93 on 2024-01-21 21:06:16+00:00.

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The original was posted on /r/cryptocurrency by /u/SpaceBrigadeVHS on 2024-01-21 05:12:14+00:00.

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The original was posted on /r/cryptocurrency by /u/SpaceBrigadeVHS on 2024-01-21 03:50:45+00:00.

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The original was posted on /r/cryptocurrency by /u/travelerlifts07 on 2024-01-21 02:57:46+00:00.

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Source: Coinbase Bytes Newsletter

Copied and paste from it since no images are allowed here anymore:

Ethereum fees could fall dramatically

In the coming months, Ethereum is expected to launch its EIP-4844 upgrade, which, according to a prediction from asset manager VanEck, will "reduce transaction fees and improve scalability for layer 2 chains such as Polygon, Arbitrum, Optimism."The upgrade, also known as proto-danksharding, is the next evolution of technology that splits the network into many "shards" to allow for ever faster transactions. Bitwise predicts the upgrade could drive the average fee per transaction down from around $0.14 on "low-cost Layer 2 blockchains" to below $0.01: "A 90%+ reduction in the cost to use Ethereum will radically increase the types of activities individuals can feasibly participate in on the network." This potential leap has JPMorgan predicting that ETH could outperform bitcoin and other cryptocurrencies in 2024.

Governments will adopt blockchains

Belgium plans to use its 2024 presidency of the European Union Council to push for building a trans-national blockchain that will be used to store things like driver's licenses and property titles for EU residents.

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The original was posted on /r/cryptocurrency by /u/cryptolibertatum on 2024-01-21 00:00:21+00:00.

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Soon to be regretted in a few years or less.

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The original was posted on /r/cryptocurrency by /u/6M66 on 2024-01-20 23:18:55+00:00.

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When we tried to withdraw some Eth, it is costing us $33/transaction, if we do test, that's $33*2= $66. And that's the price when gas fee is 13gwei.

And we are forced to use ERC 20

Imagine how expensive that will be when gas fee goes up.

For those people who do dollar cost average. How are you cool with paying that amount for a transaction

I am in constant look of an exchange with reasonable fees.

Some of these exchanges have up to 2% spread to buy and 2% to sell .

That means if you trade 100k, you pay 2k to buy and 2k to sell. I call that rip-off.

On top of that they charge for withdrawal of fiat to your bank.

So exchange business must be really profitable. They are popping up everywhere.

It's sad Binance is not available anymore.

I am not comfortable paying that much at all. I don't know why nobody talks about this.

Wait, it's not all, aside from all these fees cost of hard wallet and tax software that must be paid annually.

We spend so much money on this, yet nobody mentions it..

I definitely think ETFs are needed Here.as long as they track the coin well. My biggest problem with ETF is, it's not 24/7.

Edit: I always say this , Eth is for rich people who are willing to pay hundreds of dollar as fee . This can't be sustainable.

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The original was posted on /r/cryptocurrency by /u/Joe-M-4 on 2024-01-20 13:18:05+00:00.

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EXPERIMENT - Tracking Top 10 Cryptos Of 2023 - ONE YEAR REPORT – UP 73%

Find the full blog post with all the tables and graphs here.

Welcome to your monthly no-shill data dump: Here's the YEAR END REPORT for the 2023 Top Ten Experiment featuring BTC, ETH, BNB, XRP, BUSD, DOGE, ADA, MATIC, DOT, and LTC.

SNAPSHOTS ALWAYS TAKEN ON FIRST OF THE MONTH (data below reflects 1 JANUARY Snapshot).

tl;dr

• What's this all about? I purchased $100 of each of Top 10 Cryptos in Jan. 2018, haven't sold or traded, reporting monthly for nearly 6 years for your reading pleasure. Did the same in 2019, 2020, 2021, 2022, and 2023. Learn more about the history and rules of the Experiments (including why in the world I would include stablecoins) here. Learn more about the new features in the 2023 Top Ten Experiment here.
• DECEMBER Highlights: Gotta love ending 2023 on an all green month. ADA takes its second straight monthly victory, followed by DOT.
• The 2023 portfolio is +73% so far this year compared to +24% from the S&P500. DCA'ing once a year into Top Ten Cryptos for the last 6 years has produced better returns than if you'd done the same with the S&P 500 over the same time period (+163% vs S&P500's +45% - see below for details).
• Total market cap token AMKT is nearly doubled the ROI of the 2023 Top 10 Experiment +141% to +73% in this year’s friendly competition between The Top Ten Portfolio and The Alongside Crypto Market Index Token (AMKT).

Month Twelve – Up +73%

The 2023 Top Ten Crypto Index Fund Portfolio is BTC, ETH, BNB, XRP, BUSD, DOGE, ADA, MATIC, DOT, LTC.

December highlights for the 2023 Top Ten Portfolio:

• A strong/all green month to end 2023
• ADA takes its second monthly victory in a row, followed closely by DOT in second place
• End of year champ: BTC holds off second place ADA for the 2023 victory

December Rankings

Here’s a look at the movement in the ranks twelve months into the 2023 Top Ten Index Fund Experiment:

December Winners and Losers

December Winner – ADA (+67%) outperformed the field this month for the second month in a row, followed by DOT (+62%).

December Loser – at +4%, XRP turned in the worst performance of the month.

Overall Update: BTC takes the yearly victory followed by second place ADA.  Litecoin finishes in last place. 100% of cryptos in the green.

Bitcoin (+173%) was the best performing Top Ten crypto of 2023, followed by second place ADA (+158%).  The initial $100 invested in BTC twelve months ago is worth $272 today. 

All Top Ten cryptos finished in positive territory this year.

Litecoin was the worst performer of this year’s Top Ten Experiment, up just +8%.

Overall return on $1,000 investment since January 1st, 2023:

The 2023 Top Ten Portfolio picked up $344 bucks in December and ended the month at a yearly high.  The initial $1000 investment on New Year’s Day 2023 is now worth $1,729, +73% this year.

Here’s a visual summary of year one of the 2023 Top Ten portfolio:

2023 Top Ten Portfolio vs. The Alongside Crypto Market Index Token (AMKT)

The first Top Ten Crypto Experiment was started on 1 January 2018 in an attempt to capture the gains of the entire market. Much has changed over the last six years, including the introduction of index products designed to capture the entire crypto market (instead of manually buying coins and tokens like I do for my Experiments).

This year’s friendly competition is between The 2023 Top Ten Portfolio and The Alongside Crypto Market Index Token (AMKT).  AMKT is an ERC-20 token that represents a cap weighted index of 15 Cryptocurrencies (minus stablecoins) backed 1:1 by the underlying assets represented within the index and completely onchain.  Since the index represents approximately 95% of the value within crypto, AMKT is an excellent proxy for the entire cryptocurrency market – exactly what my Top Ten Portfolios have been trying to recreate from the start.  

To mirror traditional index fund products, AMKT also provides a 5% APR match, creating its own dividend.

Here’s the question I tracked this year: would I have been better off with $1,000 of AMKT instead of creating a homemade $1,000 Top Ten Index Fund?

On 1 January 2023, $1000 was equal to 17.15 AMKT.  Here’s the snapshot, one year later: 

December Performances:

• The 2023 Top Ten Portfolio: +25%
• AMKT: +18%

The monthly victory goes to: The 2023 Top Ten Portfolio

FINAL TALLY FOR 2023: 

• The 2023 Top Ten Portfolio: current value $1,729 (+73%)
• AMKT: current value $2,407 (+141%)

Overall winner: The Alongside Crypto Market Index Token (AMKT)

For the more visual, here’s the table I used to track the friendly Top Ten vs. AMKT competition this year:

That’s a wrap on the 2023 Top Ten vs. AMKT competition.  In the end, it really wasn’t close – AMKT took 9 out of 12 monthly victories and held the overall lead throughout 2023, returning +141% vs. my Top Ten’s 73%.

Not bad for doing nothing.

Combining the 2018, 2019, 2020, 2021, 2022, and 2023 Top Ten Crypto Portfolios

The 2023 Top Ten is one of six concurrent experimental portfolios.  Where do we stand if we combine all of the Top Ten Crypto Index Fund Experiments?

• 2018 Top Ten Experiment: down -10% (total value $903)
• 2019 Top Ten Experiment: up +355% (total value $4,548)
• 2020 Top Ten Experiment: up +474% (total value $5,739) (best performing portfolio*)*
• 2021 Top Ten Experiment: up +139% (total value $2,393)
• 2022 Top Ten Experiment: down -52% (total value $484) (worst performing portfolio*)*
• 2023 Top Ten Experiment: up +73% (total value $1,729)

Taking the six portfolios together, here’s the bottom bottom bottom bottom bottom bottom line: 

After a $6,000 total investment in the 2018, 2019, 2020, 2021, 2022, and 2023 Top Ten Cryptocurrencies, the combined portfolios are worth $15,796.

That’s up +163% on the combined portfolios.   

For context, the peak  for the combined Top Ten Index Fund Experiment Portfolios was November 2021’s all time high of +533%.  

Here’s the combined monthly ROI since I started tracking the metric in January 2020 for those who do better with visuals:

In summary: That’s a +163% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st (including stablecoins) for six straight years.

Comparison to S&P 500

I’m also tracking the S&P 500 as part of my Experiment to have a comparison point to traditional markets.

The S&P 500 is up +24% so far in 2023, compared to the Top Ten Crypto portfolio’s +73%.  The initial $1k investment into crypto on New Year’s Day would be worth $1,240 had it been redirected to the S&P.  

Taking the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments, the yields are the following:

• $1000 investment in S&P 500 on January 1st, 2018 = $1,780 today
• $1000 investment in S&P 500 on January 1st, 2019 = $1,900 today
• $1000 investment in S&P 500 on January 1st, 2020 = $1,480 today
• $1000 investment in S&P 500 on January 1st, 2021 = $1,270 today
• $1000 investment in S&P 500 on January 1st, 2022 = $1000 today
• $1000 investment in S&P 500 on January 1st, 2023 = ...

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