Could Ghost Be a Blessing In Disguise?

in HODL2 months ago (edited)

Whenever we invest a small fund, the cost of managing it is generally not worth the return. Especially in cryptocurrency field, if you invest a small fund in multiple projects, you will soon get overwhelmed by tracking all the development on those projects.

In cryptosphere, developemnts are very fast, projects often change their course mid-way, forks happen, new and better projects crop up pushing the old ones into oblivion.

Thus if you have invested only a small amount in a coin, you won't like to put much effort in keeping yourself updated about the progress of that project. May be, you will even forget about your investment after some time. Or may be, you won't feel the urgency to take any action on your behalf if the events or situation so demands e.g. when coins are swapped or when your Witness vote was needed on Steem.

Unfortunately, several projects give a very short time to take action. E.g. SteemHunt gave only about a week's notice to withdraw your HUNT coins. If you didn't, they were all burnt with no further recourse. Heard that Dlike is also doing something like that. Even though I've some DLIKE coins with me, I haven't yet bothered to read their post. ( #NoteToSelf)

So over a year back I decided to get out of all small holdings as soon as bear market ends. But I still continue with that burden.

The problem with this rule is that with not much fund at my disposal, I can't spread it in multiple projects to spread my risk. But spreading the risk may become riskier if I can't keep up with all those projects. That's kinda catch 22 situation!

Aside this, transaction charges can also become a problem for small investments.

Sometime back I invested half an Ether in $GHOST before it was launched. I just thought to double it and immediately sell it as soon as it's launched. But unfortunately, I withdrew them to my Ether wallet. So GHOST was airdropped to my ERC-20 wallet.

The prices did double briefly and I wanted to sell. But the spiralling gas prices made me to wait a little. After that; prices dropped and I'm still waiting :).

Initially, I was shocked by the controversies and allegations of plagiarism of its White Paper by PIVX and then for copying old code of Partcl etc. Nevertheless, I believed that the one who can market & find good partners for his project will certainly do better.

Ghost on Binance.jpg

With regular announcement, launches and collaborations in Ghost By McAfee project, I finally decided to stake my coins. So I decided to convert my ERC-20 GHOST coins to its native chain coins. But again $5 Gas price became the deciding factor and I chose to wait for some more time. I'm stil waiting. :)

Last week, I had told you that I was interested to put $5 DAI into PoolTogether lottery. But when I saw that I'll need to pay $5 gas price for that transaction, I changed my mind. I'm good with $5 POA in POA Mania lottery ...LOL!

Why I'm so reluctant to pay gas charges?
Well, partly I can blame my thrifty nature but a bigger blame I'd put to the Hive chain. Yeah, its zero fee tansaction feature is a bit of a spoiler ;)

But if GHOST project does well I'll actually thank these transaction fee. Otherwise, I'd have sold those coins. Now I'm thinking to buy some more, so that my investment can become a little bigger than what it's now.

Any suggestions?

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Same thing I tell my friends when they ask me how much I think they should invest. I will like to say as much as possible, but I can't back that up with just saying, I show them my wallet and my returns, they see it and think its huge, in my head its only a pinch of salt. After they realize how much I have in my investments, I leave them to make their decisions. The thing is especially when it comes to staking for passive income, putting in little amounts is just time and resource wasting. Which is why I feel I'm comfortable with my holding on Hive till I can then begin to diversify. Buidl then diversify

I agree. More than the profit, my intention is to learn new things through my small investments. I learn by doing :)

One thing I must say. Ghost are really very cute. Wanted to meet them. Hahaha

WOW, without even meeting them, you know they're cute. I like your attitude. You're inclined to hug a ghost ...lol!

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