What Is 66 Shitcoins?
66ShitCoins is the title given by an investor to his cryptocurrency portfolio of sixty six coins that he is experimenting with. In essence this blogger has put in about $850 into buying coins in a bid to hold them for a year and report daily about how the portfolio performs. The blog is quite interesting and by day 5 of the experiment, there were already about 22,000 visits to the website.
The coins are spread out including serious ones like Bitcoin cash and even Dogecoin. The investor hasn’t given the criteria used to select which coins to buy but it will be interesting to watch how the portfolio performs. So far, the investor reports that the portfolio has already tanked by half with the current value of the coins at around $400. Well, this is understandable since the market is in a downward trend; the hope is that the market will recover and this will reflect on this portfolio.
5 Days Into The 66 Shitcoins
Let’s take a closer look at the five days into this experiment:
- Day 0(14th Jan 2018) – The investor decided to pile up cryptocurrencies by pumping $800 into a wide range of coins. The portfolio is diverse and a full list of the coins bought is available on the website. The intention at the start is to hold and monitor the coins for a period of 365 days due to tax.
- Day 1(14th Jan 2018) – The portfolio has reported a loss of 11.79% over a period of 24 hours. The investor reports that within a day the portfolio was already down by $98.70. The biggest gain made was on Ethereum classic that has risen 04% while VeriCoin was down 23.9%
- Day 2(15th Jan 2018) – The portfolio was still on a downward trend recording a loss of up to 8% and the portfolio down to $778. The biggest gainer during this day Stratus that rose with over 15%. The investor made a huge profit with Gas .
- Day 3(16th Jan 2017) – The investor woke up to serious losses and even made a reference to the day back in 1987 when Dow Jones fell by 22% in a day. The portfolio fell by 31% to $585 with everything losing value. The only thing that was profitable was Gas with VeriCoin once again being the biggest loser.
- Day 4(17th Jan 2018) – So far, the portfolio is down 43.98% with a total value down to $ 477. The investor claims to be shocked but a lot can change in the crypto space.
66ShitCoins Winners And Losers
According to the investor, the top five coins that have gained the most are Gas, Ethereum Classic, Monero, Litecoin and Ardor. On the other hand, the biggest losers were VeriCoin, RieCoin, Bitshares, Huntercoin and Pascalcoin respectively. From this experiment so far, it’s clear that the more serious projects are holding out okay compared to other coins. The investor is waiting to see how the coins behave once the market is back in track. For now, the idea is to buy back the coins as they dip in the hope of making a kill once the market is up.