The 2017 Roadmap for PoSWallet

Just came across the PoSwallet roadmap for 2017. These guys are accomplishing big things. If this is your first time hearing about PoSWallet, it is an online group cryptocurrency staking wallet. Basically users pool together their proof of stake cryptocurrencies and PoSWallet stakes them in a group wallet and distributes the staking rewards to the members for participating. This is a really great way to stake multiple cryptocurrencies without tying up tons of system resources. Now instead of running a wallet for each POS (proof of stake) coin you have, you can just hodl them in your PoSwallet account and still enjoy the earnings. They currently host wallets for close to 100 different proof of stake coins.

I’ve been following this site pretty much from the beginning. I’ve watched it’s user base and platform both grow considerably. Their most recent upgrade is an on site cryptocurrency exchange for trading. Now you don’t even have to transfer your coins to an exchange, and you can trade them right on the site. I came across their roadmap for 2017, and I have to say it looks pretty impressive.

Dev roadmap for 2017 PoSW

PoSWallet roadmap for 2017

These guys are accomplishing big things, not to mention best ICO offer I ever bought into! If you’re interested in learning more about this project, you can check out these two interviews I did with the lead dev awhile back. The first link is about the PoSWallet coin, and the second one is about the staking wallet. This has been a really fun and interesting project to follow:

The Dood Interviews The Lead Dev Of POSwallet!

Interview With PoSW coin.

Interested in opening a free staking wallet, here’s a referral:

https://poswallet.com/sign-up.php?referral=TheDood

The Most Expensive Cryptocurrency Trading Lesson I Ever Learned

I was just talking with a friend on twitter about DASH cryptocurrency. Before the rebranding to DASH, it was called DARKcoin. It was during this time that I made the most expensive mistake of not only my crypto trading career, but probably my life. Apparently my friend had made the exact same mistake. I’m going to share with you the most expensive lesson I ever learned.

When DARKcoin first came out, there was a lot of controversy about pre-mines, and who owned what as far as coin holders. This caused a lot of price volatility and created plenty of opportunities to pick up some really cheap DARKcoin at times. Even with all the FUD, most people involved in the cryptocurrency space immediately seen that this coin and it’s developers were onto something as they promoted the DARKcoin, and tried to tackle the problem of TRUE cryptocurrency anonymity.

The Dood bought a bunch of DARKcoin on one of the dips. A really low buy order got filled and I got some really cheap coin. It wasn’t a large amount, maybe about 1500 coins, I can’t remember what the transaction cost me, but I remember I got them cheap.

As usual I bought and sold them several times. I was fairly new to trading crypto then and I would sell the “TOP”, then buy back on another dip. Often, I would dump my entire position and buy back later at a much cheaper price. This is called “shorting your position”

When DARKcoin rebranded from DARK to DASH I learned the most expensive lesson of my trading career. Never dump your entire position unless you’re planning on completely exiting a market. Even then you may want to re-think dumping everything, because this is crypto trading, and anything is possible.

I learned this the hard way, and a year or so later I was watching a stock trading video on youtube and the guy said the same thing. NEVER DUMP YOUR ENTIRE POSITION on a short. The reason for this is very simple, if the price continues to rise, you will have to buy your position back at a loss. Now this also breaks my second rule of trading. NEVER CHASE AFTER COINS. If a coin gets away from you, let it go, the market always presents a re-entry point. Usually!

So DARKcoin rebrands to DASH and like so many coin rebrands it was met with rising coin prices, lots of hype, and the price rising considerably. This is where I made my biggest mistake. What I thought was certain to be a pump, and all the hype of the relaunched coin under a new name, I dumped my full position at what I thought was the “TOP” and it just kept climbing and climbing. Not willing to break my second rule, I never bought back in! What amounted to no more than a few dollars in trading profits would of traded today at well over $60,000 !

Dash cryptocurrency chart

Dash at current prices my coins would of been worth around $60,000!

DASH continued to rise and rise, and after it climbed to well over $10.00 I just stopped paying attention. A lot of people made this same mistake during the rebrand and you can imagine the emotions that arise when they realize the opportunity that they missed out on. For me it’s the one that got away, and for this reason I rarely sell more than 50% of any position I have in a coin. No matter what, I always hang on to at least 25% of any coins position just in case.

DASH cryptocurrency dump

When you remember how you dumped your DASH early.

Today, if I would of sold my 25% position of the original 1500 coins, I would of had about 375 coins worth about $42 each for a total of around $15,750 dollars. Live and learn!

Thanks for reading and happy trading everyone!

Originally posted on my Steemit. If you’re on Steemit, hope you decide to follow The Dood.

Review: Earn Bitcoin Using The File Army Image Hosting Service

I promise this isn’t turning into a video blog. It has been sometime since I’ve done a youtube video and I got bored the other day and decided to put one together. This is a really cool image hosting site I found, that pays you in bitcoin for using the image hosting service.

You can follow The Dood on File Army here: https://file.army/bitcoindood
Steemit: https://steemit.com/@the-bitcoin-dood/
Twitter: https://twitter.com/BitcoinDood
G+ : https://plus.google.com/u/0/+BitcoinDood
And now on Facebook 🙁 https://www.facebook.com/BitcoinDood/