Oh No, I'm At It Again
By Jim Bauer
@porwest (112802)
United States
December 18, 2022 9:38am CST
I have talked quite a lot about cryptocurrencies and where I stand overall on the whole idea of them.
The long and short is that I am very skeptical of them.
At the same time, despite my decision about a year ago to stop investing any new money into any of them, I have continued to find ways to earn some—mainly through facuets, but also through writing such as on the read.cash platform, and short posting such as through the noise.cash platform which is now noise.app.
But I have seen that Bitcoin has been hovering around $15k-$17k, and that it seems to have stabilized a bit, as have all other coins in the market incidentally. Or at least most them.
For that reason I decided to throw some good money at potentially bad and have begun investing a little bit here and there again.
Not a lot. Crypto is still a very small part of my overall portfolio and investment interest. But a few bucks here and a few bucks there? Sure. Why not? It is not at all strange to find me in a casino or playing the lottery, both of which I have no real expectation of winning when I do it.
So why not gamble a little bit in crypto? It will either be a good idea or a bad idea—and while that seems like a dumb way of putting it, for me it is no different than the casino or the lottery.
I will do it just for the fun of it even if it never turns a single penny's worth of gain in so doing.
9 people like this
8 responses
@porwest (112802)
• United States
18 Dec 22
NFTs to me are far worse and far less sensible. Not that crypto is sensible from what I can gather. But NFTs are simply worthless to me over time. Crypto may be too, but so is a trip to the casino or wagering a couple bucks for the Powerball.
As long as I think about it in relative terms, I am okay with wasting a few bucks potentially on it.
1 person likes this
@porwest (112802)
• United States
18 Dec 22
@NJChicaa I definitely do not recommend anyone putting money into anything they are not comfortable with nor with money they cannot afford to lose. The allocation of my entire portfolio to crypto is less than 1% right now, so even if I lose it all I am not out much.
Beyond that, the main way I get crypto is not by buying it, but rather by earning it. So even the majority portion of what I have is not from actual invested funds, but from free crypto generated through faucets and other mechanisms.
All that can be converted to real money of course if I so choose.
1 person likes this
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@RebeccasFarm (91299)
• United States
18 Dec 22
You'll come out on top no matter what you do I am sure Jim.
1 person likes this
@moffittjc (128831)
• Gainesville, Florida
19 Dec 22
Have fun on your gambling adventure. I hope it pays off for you.
1 person likes this
@moffittjc (128831)
• Gainesville, Florida
20 Dec 22
@porwest I do hope you have lots of fun with it then.
1 person likes this
@porwest (112802)
• United States
21 Dec 22
@moffittjc I have over 10 million SHIB, and I am hoping it ever hits that penny that was predicted a while back. That would be a six figure gain. I don't plan on holding my breath. But it should be fun to see if it ever does it. lol
1 person likes this
@LindaOHio (222285)
• United States
19 Dec 22
I still need to call CoinBase and see how I can transfer my big $16 out of their account. That's the extent of my trip into cryptocurrency.
1 person likes this
@LindaOHio (222285)
• United States
22 Dec 22
@porwest Would I send it to your email address? Is that how it works?
1 person likes this
@porwest (112802)
• United States
23 Dec 22
@LindaOHio You would have to send it to a BCH address I give you and you could do that through Coinbase. It will send the money to me in crypto, and I could send the money to your PayPal through your email address.
Happy to do it if it frees up your money.
1 person likes this
@allknowing (153544)
• India
19 Dec 22
Although I have an account at Readcash have not made any progress there I earned quite a bit at noisecash and now noise app is up, I am there but have not done much there either. The other place I earned was at bmf.io - quite a bit and there again I have slacked.
@kobesbuddy (78833)
• East Tawas, Michigan
18 Dec 22
Ole King Cole, is that what you're talking about? Bake me a blackberry pie, would you please? Cryto-currency scares the socks off me, it will soon be a new replacement for our familiar currency of dollars and coins.
