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Week 11 Recap
It seems every week when I'm writing these posts I end up having to mention that Bitcoin hit a new high. At this point I'm just copy pasting every week. New high: $6,300 USD ($8,000 CAD!) as of a few hours ago (has since dropped a bit). Short recap this week:
- 7.52% of all nodes are now signaling for SegWit2x (signaling btc1), up from 2% three weeks ago. Breakdown of this chart: Bitcoin ABC desires adjustable block sizes and comprises %8.1 of all nodes, and Bitcoin Unlimited wants to remove blocksize limits makes up 6.27% of all nodes. This reinforces (in my opinion) that those running nodes do not dictate anything; it's trivial to spin up nodes, it's not trivial to spin up miners (though it is possible).
Week 11 Results
This was a fairly positive week. The most interesting tidbit that I noticed this week is that Bitcoin has been slowly rising to the top of the portfolio as the overall portfolio winner. It's now in third place close behind AEON and LISK.
When I started this experiment there were many who predicted that Bitcoin would be the clear winner by week 52. After the first couple weeks that seemed quite unlikely; many alts were posting 100% weekly gains. As the weeks have rolled by however, most alts suffered severe corrections, and only a handful have retained their gains. I'm going to go out on a limb here and say that I believe Bitcoin will be the winner when week 52 rolls around.
Biggest winner this week: DigitalNote (XDN) with a gain of +8.27 USD (+165%). Biggest loser this week: AEON with a loss of $3.22 USD (-15%). No idea what's going on with DigitalNote, probably a pump and dump, expect it to be my weekly loser next week. AEON's difficulty has increased, and the creator has repeatedly missed deadlines for a planned code rebase.
|Symbol||Quantity||Price||October 22nd||October 29th||Week Change $||Week Change %|
Want to follow along?
If you're Canadian and want to try the same thing, I use QuadrigaCX (wire transfer, interac online) and Coinbase (VISA, Mastercard, AMEX) to purchase bitcoin, ethereum, or litecoin to transfer to an exchange that supports all these alternative currencies. I used HitBTC to buy all 31 currencies, but many exchanges will work just as well.