Tag: crypto

Okay FINE I won’t

On By Luther M. SilerIn idiocy6 Comments

Dan Ford may have slightly too much influence over my life decisions for someone I’ve never met, but those five words more or less talked me out of Adventures with Bitcoin, and realizing that this weekend is a Lego Insiders weekend and that they have a model of the HMS Endurance coming at the end of the month sealed the deal; I’m not destroying the environment and I get (sorta) free Legos? Yeah, fuck money get Legos.

I think that’s the phrase, at least.

MEANWHILE! Kendrick Lamar has a new album out! He didn’t tell anyone it was coming before he released it. I’m listening to it right now and it might be his best album yet. I never really vibed with Mr. Morale and the Big Steppers, so it’s good to see a return to form.

Let’s see. What else? I feel like something happened at work today that I really want to talk about, but hell if I can remember what it is. I decided today that I have what I’m calling a Shitty White Boy problem with my sixth hour, but that’s not the story.

… Goddammit, it’s gone. I’m gonna go play Veilguard and if I remember what the hell I wanted to talk about I’ll come back.

Talk me out of this

On By Luther M. SilerIn idiocy2 Comments

A couple of months ago, more or less on a whim, I started sinking $50 a week into Bitcoin.

Yeah, I know. Stay with me here.

You are not reading that incorrectly.

That is up nearly five percent today, nearly twelve percent this week, and nearly fifty percent in a month. Those are fucking insane numbers. Ridiculous numbers. Stupid numbers. “That can’t be right” numbers.

I have actually invested $342.16. My personal actual rate of return over the last seven weeks or so is 40.9%. I assume there would be some transaction fees or something and taxes to set aside once I sell, but that’s ludicrous.

I am seriously and genuinely considering getting a zero-APR advance from one of my credit cards to sink into Bitcoin for a month, at which point I’ll sell off whatever the advance was, pay it off, and let the profits coast for a little longer. I’m not talking about an enormous amount of money, relatively speaking; nothing that would bankrupt me or even put me into real trouble if the market crashes, and one way or another I probably want out of this (or do I?) before Trump takes office and wrecks the economy. But 40% of, say, $5000 is two thousand dollars in a month. Even if the rate of return drops by half that’s still a thousand dollars for doing nothing. When I started thinking about this a week or so ago, the one-month number was around thirty percent.

There’s got to be a correction of some sort coming soon, right? Nothing stays on this high of a trajectory for long, and Bitcoin is proof positive that money (and the investment market) is nearly entirely fake anyway. But … shit.

Am I gonna end up $2,000,000 in debt in two years, and this is the post that led to my downfall?

Somebody tell my wife about this post so she can forbid me to invest in this stupid, imaginary product, please.