I manage crypto funds between $1K-$10K and lost 6% last month

A couple months ago I shared my service in several crypto subreddits. Redditors are extremely skeptical about crypto services and for good reason because we are better informed than the general public!

Some of you thought I was a scammer. So let’s share a new update on how I’m doing. I have to admit, when I shared my reddit post I didn’t have much personal information about myself as I was not sure if I’d wanted to be public with my information yet. I couldn’t use Ryan Gosling because he already works in another crypto company unfortunately [https://www.independent.co.uk/life-style/gadgets-and-tech/news/ryan-gosling-cryptocurrency-scam-miroskii-kevin-belanger-stock-image-fake-profile-bitcoin-a8240386.html](https://www.independent.co.uk/life-style/gadgets-and-tech/news/ryan-gosling-cryptocurrency-scam-miroskii-kevin-belanger-stock-image-fake-profile-bitcoin-a8240386.html).

Since a few weeks I decided to link my personal information and received much better conversion and feedback. And how better to disarm me being a scammer by announcing I actually lost money last month. I’ll come back to discuss the performance more in depth in this post. First a bit of what went on last couple weeks.

I started writing on Quora about Bitcoin and cryptocurrencies as most sites are blocking crypto ads. And I’m now proud to announce I’m a top 10 writer on Quora for Bitcoin, virtual currencies and cryptocurrencies.

* [https://www.quora.com/topic/Bitcoin/writers](https://www.quora.com/topic/Bitcoin/writers)
* [https://www.quora.com/topic/Virtual-Currencies/writers](https://www.quora.com/topic/Virtual-Currencies/writers)
* [https://www.quora.com/topic/Cryptocurrencies/writers](https://www.quora.com/topic/Cryptocurrencies/writers)

So from within 2 two weeks I went from 1 customer to 8, 3 waiting to be connected, over 50 verified signups, and many warm leads in the pipeline. From managing $10K to almost $50K now. I manage micro funds, between $1K and $10K so $50K is a big deal in this context.

I’ve always followed crypto on reddit and I feel there will be many more here interested in the service if they knew about it.


**So let’s talk about performance.**

I lost around 6% last month and is the second consecutive month with losses. The reason is that the automated strategy I developed is based on lagging indicators, or trend following. Since the market is so flat, it is the most challenging period now. Causing micro losses and more trades than we usually do. They are within spec from backtest data dating from 2014 though. I took some action by using a multi-strategy approach that switches between trending and ranging markets, but might opt for another solution if November keeps being flat.

However I expect some more volume and volatility with the upcoming Bakkt launch so since it’s within spec I’m not taking measures yet. The strategy is a long term strategy so 1-3 months is nothing.

I want to be transparent with my numbers and even though it’s not a lot fun updating the number on my home page when it’s going down, it’s also an essential part of trading. Every trader seems to be able to make money, leaving out their losses conveniently. I don’t, no sugarcoat, no bull shit. Real buy and sell prices and I will also begin to share the average actual slippage between advised prices and actual filled prices from the trading servers.

So there’s that. If you have concerns, or questions just leave them in the comments.

And if you are interested in my services, head out to [coinbakers.com](http://coinbakers.com/). I work on a no profit no pay basis. You can find my performance and backtest results here [https://coinbakers.com/results](https://coinbakers.com/results)

Since I always gained from the reddit community I’m want to give redditors a 3% discount on my commission rate. If you’d like to make use of this offer just pm with your registered email address. Looking forward working with you!

Be safe and always do your own research.

Jason Wen
Founder [coinbakers.com](http://coinbakers.com/)


P.S. I’m linking to some of my Quora articles, some of you might find them interesting

[**Is bitcoin starting a bull run in November 2018?**](https://www.quora.com/Is-bitcoin-starting-a-bull-run-in-November-2018/answer/jason-wen-3)

[**Is it true that HODLing cryptocurrencies will get you nowhere?**](https://www.quora.com/Is-it-true-that-HODLing-cryptocurrencies-will-get-you-nowhere/answer/jason-wen-3)

[**As the crypto currency price keeps going down this year, why do some people still invest in it?**](https://www.quora.com/As-the-crypto-currency-price-keeps-going-down-this-year-why-do-some-people-still-invest-in-it/answer/jason-wen-3)

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View Reddit by buddyhipster

The world’s first Blockchain smartphone is going to be released this month, using the Blockchain not as an add-on in the form of software applications or shells, but as the base for the operating system

The world’s first Blockchain smartphone is going to be released this month, using the Blockchain not as an add-on in the form of software applications or shells, but as the base for the operating system

View Reddit by Rare_AdView Source

Venezuelan update: One BTC is around 1,524,000 BsS. (Bolivares, more than 100% increase in around 1 month), monthly minimum wage is around 8 USD -0.0013 BTC- and inflation keeps going on (even in USD). 915 BTC were traded last week using Localbitcoin data.


You can check the “Coffee with milk index made by Bloomberg” https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

Government “set” the prices of some goods and what happens is that they set the price is under the production cost. But now people just don’t care, price is set at 90 BsS. per kilo (which is around 45 usd cents) none wants to sell at that price, people is selling it at around 700 Bs. (3 USD) and nothing happens.

Government ordered all the banks to show your balance in petro cryptocurrency as well (Government cryptocurrency), if you have 3600 BsS. (15 USD) in your account it will show 1 Petro. Even BBVA and Citibank had to do this.

You can check the 24h volume here http://dolarbeta.com/ and the last week volumen using Coindance

AMA anything

View Reddit by WorkingLimeView Source

EXPERIMENT – Tracking Top 10 Cryptocurrencies for One Year (2018) – Month Ten – Another Sideways Month, Stellar Still in Lead – Overall Down 75%


[Another Paul Giamatti Month](https://i.redd.it/ltovsryzw4w11.png)

tl;dr: **BTC** and **Cardano** best performers in October, **Bitcoin Cash** worst performer of the month. Overall **Stellar** still on top.

[Click here for full blog post complete with charts, graphs, and charts of graphs.](https://steemit.com/cryptocurrency/@starthere/experiment-tracking-top-10-cryptocurrencies-for-one-year-2018-month-ten-down-75-853aaa344c9feest)

# The Experiment:

Instead of hypothetically tracking cryptos throughout the year, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. It began as a lazy man’s Index Fund (no weighting or rebalancing), but I’ve moved away from that terminology as things have changed quite a bit since January 1st, 2018 (plus the term “Index Fund” seems to bring out the shills trying to sell their own Crypto Index Fund product).

My experiment is less technical, more fun (for me at least), and hopefully still a proxy for the entire market- or at the very least an interesting snapshot of the 2018 crypto space. I’m trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet.

# The Rules:

Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment 365 days. Hold only. No selling. No trading. Report monthly.

# Month/Episode Ten – Down 75%

Like September, October ended up being pretty Paul Giamatti (Sideways). This is quite unusual for crypto this year, especially considering the fluctuations we saw in traditional markets. That said, none of the original Top Ten cryptos ended the month in the green, so while the flow may have slowed, this portfolio continues to bleed. In fact, this Top Ten portfolio reached a grim milestone: I am down a full 75% since the beginning of the year – my $1k investment is now worth $250 bucks.

***October “Winners”*** – It was **Bitcoin** this month, holding remarkable steady, down only about 4% on the month. **Cardano** finished in second place “only” down 11% and moving up a position in the ranking from #9 to #8.

***October Losers*** – **Bitcoin Cash** lost -19% of its value in October followed closely by **Ripple**, **NEM**, and **Dash** each down -17 or -18%.

# Overall update – Stellar retains lead, BTC a distant second. NEM and Cardano at the bottom

October’s report could have written itself (which I guess is interesting if we’re looking for patterns). Although down -30% for the year, **Stellar** remains squarely in the lead, followed distantly by **Bitcoin** down -52% for the year. This is not a surprise to anyone who’s been following the experiment – **Stellar** has been one of the strongest cryptos most if not all months this year. That said, **BTC** did close the gap a bit in October by being so stable this month while the alts slipped more significantly.

**NEM** and **Cardano** are both at or near the -90% mark since January 1st. My initial $100 investment in **NEM** and **Cardano** at the beginning of the year is now worth about $10 bucks each. **IOTA** and **Dash** closely follow, down -86% and -85% on the year, respectively.

In terms of ranking, only **Cardano** made a positive move this month, rising from #9 to #8 in October. **IOTA** and **Dash** fell a place each and now sit at #12 and #13 respectively. **NEM, Dash,** and **IOTA** are Top Ten dropouts – they have been replaced by **EOS** (now at #5), **Tether** (currently at #10), and **Monero** (currently at #9).

# Total Market Cap for the entire cryptocurrency sector:

As mentioned earlier, October was a slow bleed, not a massive drop. Yes, the total market cap for crypto is now at its lowest month-end point of the year, but a relatively modest drop. From January 1st the market has lost -64% of its total value. Crypto hasn’t ended a month above $300B since the end of May.

# Bitcoin dominance:

Fairly flat here as well again, but **Bitcoin** dominance did reach its month-end high of 53.6% in October. As we’ve seen this throughout the experiment, when the overall market dives, **BTC**’s dominance increases. This appears to be the case when the market is going sideways as well, or at least that was the case this month.

# Overall return on investment from January 1st, 2018:

If I cashed out today, my $1000 initial investment would return $250, down -75%. I’m officially at the lowest point in the experiment in terms of value.

# Implications/Observations:

Zero cryptos finished the month in positive territory, but the way this year has been going, a relatively steady month isn’t horrible news. A breakout (one way or the other) that I expected to happen in October didn’t come to pass. All in all it was a fairly boring/sideways month in crypto.

Although it gave up some ground to **Bitcoin** this month, **Stellar** continues to be the crypto to beat in 2018 with only 60 days left to go.

Focusing solely on holding the Top Ten continues to be a losing strategy. While the overall market is down -64% from January, the cryptos that began 2018 in the Top Ten are down -75% over the same period of time. At no point in the experiment has this investment strategy worked: the initial Top Ten continue to under-perform compared to the market overall.

Last month that gap appeared to be shrinking as I reported a 9% difference, but this month it’s back to 11%.

I’m also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. October was a volatile month – many of the gains obtained over the last few months were erased. The S & P 500 finished October up about 2.5% on the year meaning my $1k investment would have given me $25 on the year.

# Conclusion:

Yet another down month, but again very sideways. This is the second month in a row the crypto space has been relatively “boring” in terms of price action while the stock market had a bit of a wild ride. I’d be surprised if something doesn’t shake out soon and am guessing that by the time I compile this report at the end of November, there will be a significant movement one way or another.

Thanks for reading and the support for the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports.

## As the year winds down, I haven’t decided yet what to do with the experiment after December 31st. If any one has suggestions, let me know in the comments.

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View Reddit by Joe-M-4

TED talks, SF Blockchain Week, auditing OMG Plasma, and more. From one of our engineers getting recognized by the Mathematical Association of America to writing a book on smart contract security fundamentals, it’s been a busy month for Team Quantstamp! Here’s what we’ve been up to:

TED talks, SF Blockchain Week, auditing OMG Plasma, and more. From one of our engineers getting recognized by the Mathematical Association of America to writing a book on smart contract security fundamentals, it’s been a busy month for Team Quantstamp! Here’s what we’ve been up to:

View Reddit by JaredQSPView Source