Bitcoin, crypto, NFTs

[Mori Chu]

Thought I'd make a thread about Bitcoin and other crypto-adjacent tech since it appears a lot lately in stories. Do any of you own any crypto? Has it been a good investment for you?

I am reluctant to have anything to do with it since it consumes such a huge amount of energy and is bad for the planet. An interesting thread:

[Superbone]

Yeah, I’ve currently got some Bitcoin, Etherium, and Cardano. Cardano for the very reason you mentioned. I experimented a few years ago before the bitcoin explosion and tripled my money but that was with a very small amount of bitcoin, etherium, and lite coin. I now have a bigger stake but it’s still a very, very small portion of my portfolio. One of my co-workers is taking a big shot at it. I’m guessing I’ve got about a 10th as much into it as he does.

Just in 2021, I bought 10K of bitcoin in early January and I’ve already watched it double, come all the way back to the starting point, then double again, and now it’s back down to about 40% up. Talk about volatile!

BTW, why is this in Politics and not General?

[Flagrant Fowl]

Poorly drawn comics for kids is where I currently stand on the whole NFT thing. Maybe there's an opportunity there, but a rotating image someone made with Illustrator isn't going to be the next Mona Lisa.

[Mori Chu]

Good point about it being in General. I thought that we might want to discuss the political aspects of the topic since it seems to be turning into an issue that people have political takes on. It could probably go in either.

[Mori Chu]

Crypto is in the midst of a big downturn. Is the bubble popping? Or a good time to invest?

[Superbone]

They have an acronym in the crypto community. HODL. Hold ON for Dear Life.

[Mori Chu]

I watched this video and found it interesting. A long look at crypto and NFTs from a guy who isn't a big fan.

[Nodack]

Avoided crypto like the plague.

[Mori Chu]

I made the mistake of watching one (ONE!) YouTube video about crypto; it was the one above, which is largely critical of the whole thing. And now almost all of my YouTube ads are for crypto stuff. Crypto.com, Coinbase, some credit card that uses crypto (?), on and on. It's a plague.

[Indy]

I made the mistake of watching one (ONE!) YouTube video about crypto; it was the one above, which is largely critical of the whole thing. And now almost all of my YouTube ads are for crypto stuff. Crypto.com, Coinbase, some credit card that uses crypto (?), on and on. It's a plague.

I think you can delete that video from your history.

[Mori Chu]

[3rdside]

I nearly piled into ethereum at just below it's highest price - hooh boy that was a good move not to (the equities fund i turned to instead is down 12%, lol, not lol ...)

[Indy]

I nearly piled into ethereum at just below it's highest price - hooh boy that was a good move not to (the equities fund i turned to instead is down 12%, lol, not lol ...)

I am stuck using specific mutual funds for an old fund I have from a previous 401k. I hate all those options and am down 30% over the last 12 months. And that 1 fund was like 5% of our retirement savings. Ugh.

[In2ition]

I nearly piled into ethereum at just below it's highest price - hooh boy that was a good move not to (the equities fund i turned to instead is down 12%, lol, not lol ...)

I am stuck using specific mutual funds for an old fund I have from a previous 401k. I hate all those options and am down 30% over the last 12 months. And that 1 fund was like 5% of our retirement savings. Ugh.

Damn, my condolences. That's got to be pretty penny.

[Indy]

it is mostly offset by me buying delta at the start of the pandemic.

[In2ition]

I wish I would have bought Peloton and Dick's at the start.

[Mori Chu]

[Mori Chu]

In general I like the idea of cutting off Russia's access and resources from the rest of the world to squeeze them for invading Ukraine. But I thought part of the whole point of crypto and NFT stuff was that it was decentralized and couldn't be cut off in this way? Is that not true?

[Mori Chu]

[Mori Chu]

This gave me a little chuckle.