Top 10 Cryptocurrency Index Fund Experiment (2018)


Was 2017 the height of the bitcoin boom or
cryptocurrency boom, or will 2018 see even more gains. Hi this is Joe from Start Here and let’s find
out. So on coinmarketcap you can see this is the
last year pretty much. It’s just ridiculous how much it’s gone up,
the cryptocurrency space. It was at $16B a year ago, today it is $780B,
pushing a trillion. So I think that’s over 4000% gain in a year
which is insane. Can we expect, the question is can we expect
this growth to continue as people continue to adopt, as people get more excited, funds
opening, you can trade more, as the year progresses what will happen to this space? So, kind of inspired by the new year and looking
online, there are a couple of people who have done some hypothetical exercises where they
say if I would have put in $1000 in the top ten at the beginning of the year or over a
year what would it be worth now? This guy, Bossing Bitcoin, does an exercise
from August to August 2016 to 2017, $1000 hypothetical $10,000 investment in theory
and then the theoretical return is $204k. So not bad. Another one on Reddit the top 15, this is
$100 a coin and it comes out to $1500 bucks comes out to over $26,000 dollars. Someone on Steemit as well is just kind of
done a summary January 1st to the end of the year, last week and this just shows how everything
has gone nuts. Bitcoin up 1,200%, Ripple up 31,000%, 8,000%
for Ethereum, Bitcoin Cash “only” 343% and on and on it goes. So, I wanted to instead of just, you know,
theorizing, I wanted to actually put some skin in the game. So I don’t have $1000 per coin but, I can
scrounge up $100 a coin. So I went to the historical, go on tools,
go on historical snapshot, it’s already open in the other tab. This is a historical snapshot from the last
day of the year, just last week. 1-10, how much they were worth and if you’ll
notice there’s, just in a week, there’s already been pretty significant changes. Ripple shot up, I don’t even think Dash is
in the top 10 anymore, someone down here – Tron made this run. I think Tron is in the top 10 now, so it’s
a very rapidly moving space. But I wanted to kind of use this as a benchmark
on getting in to this experiment. So the idea is – in the absence of an index
fund, and without anything fancy weighting coin verses, you know, market cap, if you’re
just kind of brand new and getting into it, what would $100 per cryptocurrency yield at
the end of the year? So using these figures I went in to Coinbase
and got $1000 worth of Bitcoin, transferred it to a couple other exchanges – Bittrex and
Binance. I’m showing you guys this to show you that
this is actually, I’ve actually done this, this is the balance of IOTA in Binance and
here are my balances for the – I don’t have any Doge, don’t worry – these are my balances
for the other nine. You’ll notice, you know, being transparent,
for Cardano, which is ADA, I already had a position. So, for this experiment, for the purposes
of this experiment, I will move the appropriate amount of Cardano into a wallet and track
it based on its price on that day. So this is my little spreadsheet. This is the coinmarketcap price as of the
31st. I just pretty much copied and pasted from
this historical snapshot. This is how much you could have bought with
$100. Actually, it’s not perfect because by the
time the markets changed and Bitcoin price was going up and down and I’m kind of slow
buying these things. It took a little while to pull this off. So it’s not perfect, but I think it’s close
enough. I’m hoping this is a bit of a proxy for the
overall market. So, it’s not perfect, just the top ten, but
maybe give us a good picture of how the whole space moves. So, that’s it. I’ll do update videos once a month and keep
you all informed if you want to join the journey, you’re very welcome. So, what do you guys think? Will 2018 be as nuts as 2017? Was 2017 the year of Bitcoin and 2018 will
be the year of Cryptocurrency or, you know, how do you see this space going overall? Which of the top ten that I’m experimenting
with, which of those will win in 2018? What do you guys think? Also, very interesting, will Bitcoin receive,
like, an actual series challenge to its dominance? The other day Ripple went to almost half of
the market cap, which was pretty amazing – it’s come back down since then – but will anyone
seriously challenge Bitcoin in 2018? Also, if there’s any other experiments, I
don’t have, you know, tons of cash laying around, but if anyone has any ideas for any
other experiments, let me know. Maybe if it’s compelling we can try another
experiment to see how 2018 will go. And I know the process itself is pretty intense,
especially if you’re new, so, you know, getting from your bank to a Coinbase account and moving
it to another exchange where there’s other currencies and getting it off the exchanges
and onto a Ledger or Trezor where you should store it. These are all, they all aren’t as intuitive
as they should be yet. I think we’re moving in the direction but
it’s still a bit of a learning curve. So if anyone has any process questions, please
feel free to let me know. Everything that I’ve talked about, from the
articles to the exchanges – I’ll leave links in the description, so please feel free to
start doing your own research. Again this is not financial advice. This is an experiment, this is for science. Only science! If you’re interested in the journey, please
stay tuned. I’m going to highlight/update these every
month, so, yeah, I look forward to it. Please stay tuned and we’ll see how it goes. So, Happy New Year, all the best for 2018.

7 thoughts on “Top 10 Cryptocurrency Index Fund Experiment (2018)”

  1. looking forward to seeing how your experiment turns out!! I need to find some extra dollars somewhere so I can get started in cyptos too. I'm sure my brother will help me when I'm ready to start 😉

  2. Hi! Agree with you in the most cases. And about XRP, TRX, LEND, EOS and ZRX + SNT, DOGE ? So many of them. Get a lot of information about these ones last time. Huge market cap and growing fastly up. Every week, every day. Don't you think some of them can explode some day? Or they could give to our world really usefull tools and technology for people, for life? Thank you

  3. I'd do an 11-20 and compare its performance with the 1-10.. which move up to the top 10? which fall off of the top 10? Bigger gains from top 10 or 11-20? Should be very interesting.

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