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Wednesday, July 20, 2016

Rebalancing Bitcoin Investment July 2016

Bitcoin price is going up after Brexit vote and The Halving. Stock market is still weak, falling into negative territory.
Take aways:

  • The growth of ING Mutual Fund is weak and falling into negative in March, May and July
  • So, I will keep investing on Buy-back-guaranteed P2P Lending, such as Mintos and Twino, to provide some stability (around growth 1% per month)
  • All bitcoin-based investment are growing modestly (BTCjam, LoanBase, Bitbond, BTCPop)
  • I am starting to invest in gold as commodity via Bitgold. However, I purchased it using Bitcoin. Unfortunately, the volatitily of Bitcoin and Gold price cost me back 6% this month.
  • I am starting to speculate on Bitcoin Faucet FreeBitco.in
My experience buying Bitgold via Bitcoin:
  • I transfered 150 Euro to my Bitcoin Exchange and attempt to buy Bitgold directly from my Exchange wallet. This is a bad idea because Bitgold has 15 minutes deadline to transfer Bitccoin in. So, I transfer it via my 3rd party wallet instead.
  • You can only put your gold in Dubai if you buy it via Bitcoin.
  • The price-locking is immediate, however the confirmation that the gold entered the vault in Dubai takes longer, especially in the weeked.
  • So, I lost 5€ to Bitcoin price volatility before locking the gold price on July 10th. I then lost another 5€ due to Gold price volatility ten days later.

  • I am convinced that this is shorterm volatility, in long term gold performance always outperform fiat currencies. Bitgold point this out in its bi-monthly newsletter.