Increasing my position in Maidsafecoin & Siacoin
The market accelerated again yesterday. While Ripple continued to fall, there was a sea of green with Bitcoin and most other altcoins seeing gains.
As expected, Ethereum has grown impressively this last week, +40%, likely reflecting a move of investors out of Ripple. Bitcoin is now touching $2k, and many other altcoins are growing rapidly.
Ethereum represents around 40% of my portfolio, so I took this as an opportunity to sell off 10% of my holding and invest a little more in two other coins I am particularly interested in.
Firstly, I made another investment of 1BTC into Siacoin. I previously mentioned this project, where they are attempting to build a decentralised competitor to Dropbox. It's market cap has grown over 180% in the last seven days but as a long term investment I think there is a considerable upside when you consider it's market cap is still only $171m; note that Dropbox was valued at $10bn during its last round of funding in 2014. Even if the price drops, this is a long term hold for me.
Secondly, I added to my hold in MAID. This is a fascinating project, where the team are attempting to build a decentralised Internet. The project has been running for many years and development has been slow, but if they can deliver on their roadmap, then the upside will be huge.
Another thing I like about MAID is that it has yet to see massive growth like many other altcoins as such, for me, it is a sleeping giant, and therefore I have invested another +2.3BTC into it.
Another thing I like about MAID is that the price is pretty stable, despite no huge jumps, it hasn't had any significant drops. There isn't a decent working MAID wallet yet, it currently uses Omni wallet and piggybacks onto Bitcoin, bloody confusing to setup. Once the project migrates to the Safecoin and a wallet is available I expect there will be considerable growth and a multi $billion market cap will be achievable.
You can read more about MAID here https://maidsafe.net/.
Please remember to only invest money you can afford to lose, only invest in things you understand and if you have any questions then please give me a shout.