CoinDash first newsletter!
This is our first newsletter and you are our first early readers.
In this post we are going to explain, briefly, what the coming months will look like for the Coindash team.
The why
“A good investor outperforms the market to generate bigger profits.”
The statement above sounds simple enough but committing to it is very hard, especially in the volatile world of blockchain investments.
Investors in cryptocurrencies today have very few tools that enable them to track their portfolio’s performance, most of us are still using excel spreadsheets, or worse, a piece of paper. This is very cumbersome and inefficient way to measure how your investments perform, especially if you aim to be an efficient investor.
This problem is aggravated because most of us invest for family and friends which makes it even harder to use those simple spreadsheets.
The next months:
Coindash participates in ether.camp’s hackathon to bootstrap its development and build a working trading platform with the following tools:
1) Data driven BI layer - The key to a powerful and efficient tool for blockchain investors has to be able to learn the investor’s trade history and generate meaningful value automatically. We are working hard to develop our core BI layer to do just that.
2) Trade Performance measuring tool - The first months of our work will be devoted to developing the most fundamental (and missed) tools for the blockchain investor:
Single trade P/L: we execute many trades on a regular basis, participating in a new ICO or simply selling some tokens. An investor needs to know how well his trades perform for different time periods.
Position performance- a position in a particular asset is the aggregate of all the trades made using the asset (all the buys and sells). It’s very important to have a clear understanding of how well your different positions perform to make a more informed decision for future trades.
Portfolio performance - a portfolio is the aggregate of all the different positions. A single key index which explains if your trades are making your capital grow or not.
3) Invest for friends and family - Most of us get a lot of requests from friends and family to invest for them as soon as we tell them about our blockchain investments. It's hard to know what profit belongs to which friend or family member. New money flow to the ecosystem is super important and we believe we need great tools which will enable us to onboard friends and family fast and efficiently to the blockchain space.
In the following newsletters we will dive into the different tools and our vision for Coindash.
Stay tuned
