Hello my fellow Steemians and Crypto investors,
After almost two weeks of hard work, one of the developers catching the flu, and lots of feedback and expectation pressure from users I can finally announce that the latest update to the Crypto Millionaire app on Google Play has been published!
We have been experiencing record numbers of daily users, which, we honestly did not expect, so the pressure to deliver this update, and many others on the pipeline, with requested features has been great.
Record numbers of views have been reached almost every day since the app was launched in January, 2018
I’m very glad to see this level of demand from the mainstream community. It’s not only very good news for this app in particular, but also for Crypto in general because it shows a level of interest out there that’s certainly real.
In the less than two months that the app has been active it hit the #4 trending on Google Play Finance and its growth has been really impressive!
Favorite new features just published:
This update includes many new improvements under the hood and on the front-end. Most of them have been requested/reported by the community of users which has been very active here on Steemit and also through email and comments in Google Play.
If you don’t see your favorite request yet please don’t freak out just yet! Keep in mind this app is less than two months old and developing quality features takes lots of time and efforts! We still have a long list of pending updates that are on the pipeline. Do leave your comments below, the more we hear about a feature from users the more likely it is we move it up in the list of priorities.
Latest News on each coin
All coins you are tracking now feature a News tab where you will find the latest that’s happening with your them! Pretty neat right? I’ll be using this myself a lot!
News appear in order of importance, as ranked by Google News, and then the most recent ones. So the "News of the Day" will likely show up on top and then the rest
Advanced filtering to help you find promising coins
In this example I’m filtering for coins with a CoinMarketCap Ranking higher than 10 and where the cost of their Millionth of Supply is less than $2000. See how useful this is? There are many other combinations of filters so feel free to play with them and coming up with you own strategies!
Paid option to remove ads
This is one consistent request we had been getting. People hate ads, we get it! So, in this version you will be able to get rid of them while still supporting updates and maintenance to the app. For just $1.99 a month they will be gone from your sight and you will still be supporting our work and that of the developers, some of which live in Cuba, and do depend on this income to basically survive, no kidding.
I’m personally not getting rich from this (yet, hope's up though :). Actually so far I’ve invested far more in time and money than I’ve received but I feel great just knowing that this is helping feed, create and grow new crypto oriented developers in my native country Cuba.
In a few months I’ll break even and start turning a nice, sustainable profit that will, hopefully, allow me to hire even more people and pluck them out of poverty and the hands of the state! Ain't that neat? Yeah baby! Crypto rules! Haha!
Note and update on IOs version:
Our IOs developer is missing on action. I haven't heard from him in a week. He either did not understand the concept, caught that nasty flu that's going around, or is just wasting our time. If we don't hear from him soon we'll have to get someone else alas... Sorry guys, these things happen. I know many people are waiting for it...
What percentage should you invest in each coin to become a multi-millionaire? A winning index strategy
Investing in crypto is becoming a safer bet each year as Bitcoin and altcoins get older, improved and better established. We are still in the very early days of crypto and the opportunity to strike it rich is well within reach of most people, provided they have access to the internet, modern banking and a little disposable income. However, for most new investors coming into the crypto space deciding which coins to invest in and how much is a very complicated issue.
There’s so many of them, so much information, high tech jargon and amazing promises that sound more like lies uttered by politicians than from the nerdy developers that are pitching them. Every new coin is hyped, packaged and sold like the next Amazon... However, despite all the hype and noise, we can now say with a high degree of certainty that some of them will make it big in the future, but which one(s)?
Interesting fact: All users of crypto currencies today represent less than 1% of the number of current Facebook users. More details
The reality is, no one knows, whoever tells you they do, they are flat out lying, fooling you and themselves. This market looks very much like the early car industry in the United States. Thousands of car brands appeared everywhere, a lot of them were very promising (remember the DeLorean?), but most eventually went bankrupt, only a few succeeded in the long run.
So, how do I know which coins will succeed?
The simple answer is you DON’T. Trying to pick winners is very dangerous game that most people lose, those who don’t are demonstrably just plain lucky and end up losing everything the next time they bet big. The strategy that I’m introducing guarantees the winners come to you, rather than you pick them up.
How much money should I put in each?
This is a huge conundrum for most investors. With so many coins available and limited disposable income to invest it’s hard to distribute the funds in a sensible way.
Introducing the Millionth of Supply Passive Indexing strategy and the Crypto Millionaire app:
Crypto Millionaire is an app that feeds from the Coinmarketcap’s API and lists (or indexes) the top coins by market cap and daily trading volume. The coins at the top give you a pretty good idea of the current coins being favored by the market.
The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap . This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply .
Screenshot of Crypto Millionaire showing the USD value needed to own the millionth of supply of the top coins ordered by market cap. Follow me @CryptoEagle for updates.
It doesn’t matter if you invest $100 dollars every month or $100,000 at once, your goal will be to own the millionth of the supply of the top coins as soon as possible by spending only disposable income . So, if for example, all you had is $100 dollars to invest monthly, you would invest this amount in each top coin according to the percentages shown, no more, no less. At the bottom of the app is the total amount in USD you would need to invest to do this for your favorite coins.
How rich will you be if you follow this strategy?
There are currently an estimated 10.5 trillion dollars in existence. If you owned a millionth of the supply of US dollars right now you would own about ten million five hundred thousand dollars!
In the United States alone, at end of 2016, there were 10.8 million millionaires, according to a study from Spectrem Group's Market Insights Report 2017.
Credit Suisse estimates there are about 35 million millionaires in the world (including all financial and nonfinancial wealth, such as assets, collectibles, and homes). If we compare this number to 21 million, the total number of Bitcoins that will ever exist, we can see that there won’t ever be enough Bitcoins in the world for every millionaire to even hold just one!
Also, this doesn’t account for the disruption of other industries such as remittances, Gold as a store of value and many other new uses of crypto currencies that we can’t even dream of today. As an example, if Bitcoin overtook just 5% of the market cap of Gold, a single bitcoin would be worth approximately $24,000 USD.
But, “introduce any crazy coin name here” is so great, the technology is amazing, so exciting. It’s the future, my guts tells me!
Yeah right, the market doesn’t care about your hunches, white paper promises, or all those great technologies that people sell as the best thing since Coca Cola. Nope, only market cap, volume and related network effect can tell you what coin will end up being favored by the market.
You must re-balance every once in a while
About every 3-6 months you should take a look at the index and re-balance it. If any coins dropped in market cap sell them and re-invest the money on the top coins until you own the millionth of their supply. If there are new coins rising to the top you should invest in them until you reach the goal as well, no more (over invest), no less (under invest). If you don’t do this you are risking missing the upcoming coins and keep investing in the long term losers.
Don’t invest on coins that only briefly come to the top
(Especial thanks to @famunger for contributing to this point)
Even though market cap gives you a pretty good idea of the top 4-5 coins, as you go down the list you will see, every once in a while, some temporarily overhyped coins that come up but can’t sustain their ranking and eventually crash. Only invest in coins that manage to maintain their top rankings for at least 3 months or more. Don’t fall victim to the Fear of Missing Out (FOMO) so typical in this world.
Advantages of this strategy:
You will be almost 99% guaranteed to become a multimillionaire by owning the top coins the market finally ends up favoring. You will certainly sleep like a baby!
You can start investing with very limited funds and continue investing periodically. Even if you don't get to own the millionth supply of every top coin you'll be certain you did as best as you could with your limited resources.
You won't over or under-invest in any particular coin and thus keep risks at a minimum.
You’ll skip all the typical drama of investing in cryto. The Fear of Missing Out (FOMO), the Fear, Uncertainty and Doubt (FUD), the daily crashes, the pumps and dumps etc. will not rattle your nerves and send shivers down your spine every time they happen.
Disadvantages:
This is a boring, long term, no feelings involved, passive strategy, you will not have the adrenaline rushes and enjoy or suffer all the crypto drama. Picking winners is reduced to a simple to follow probabilities game.
There may be coins that gain 1000 percent in a few weeks that won’t show up in the index until their market cap grows to the top and which you will miss but, on the bright side, you’ll also miss the big losers, the suicide inducing and family wrecking crashes.
There’s still the slight possibility (the 1% chance) that the entire crypto world is a huge bubble that will never work, the Internet could come crashing down after an EMP attack or a meteorite could strike earth... In which case we are all screwed anyways and should worry more about food and bullets to fight the zombies...
CHECK OUT MY PREVIOUS POSTS:
Quantum Doom for Crypto? It’s all FUD and here’s why
WOW! Crypto investing app hits #4 trending on Google Play Finance! Just below Paypal and Zelle!
"It's Been Dismal" - Gold Coin Sales Slump As 'Bugs' Bounce To Bitcoin
Why China (or governments) can’t stop crypto
Tell me what you think of this post in the comments below. This is not professional investment advise. I'm not your financial advisor. Only invest money you can afford to lose!
Follow me for updates news and commentary on "sane" crypto investing.
Happy crypto investing!
