Passive income: it's all about scale

Published by womwhisperer 15 Aug 2019

Passive income: it's all about scale

My crypto journey started in 2017 just after a single Bitcoin seemed to become unaffordable for most people - it was still under $1000 but it honestly seemed like I had missed the boat. Because of this, I did what many others probably did at the same time: investigate altcoins.

My strategy was pretty simple: find coins that provide passive income while maintaining or even improving their own value.

The coins I landed on were of two different types:

1) Social media: Cryoto rewards were awarded by other token holders for 'liked' content (with whale votes worth exponentially more than the votes of the rest of us); and

2) Staking: Coins which gained rewards for staking.

Both of these types of coins had issues - at least the ones I chose did - with the biggest one (apart from me simply not being a whale), was the inflation of the coins themselves.

For these reasons alone, it is pretty obvious that I have made some fairly bad choices in my crypto career (as well as some better ones). And while the social media coin could have been a winner, the whales acted to protect and expand their own positions rather than act in the interests of the chain.

The simple conclusion I have come to is one of simple mathematics: the bigger the proportion of coins you own, the bigger the return you will get. And if you can find a truly high quality crypto opportunity (especially one with no inflation) it could be a good long term investment - but however good it seems, it will be a gamble. So don't invest more than you afford to loose.