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Someone gave me 0.990 LTC a week or two ago. At the time that was about $54.00. It has since gone up to about $60.
I bought $60 each of BTC and ETH, paid for with EFTs from my business checking account.
BTC went way down today doubtlessly due to some burglar bragging that he just stole $32,000,000.00 worth of bitcoin by hacking into digital wallets.
CoinBase offers USD wallets if you're down with uploading pix of the front and back of your ID. So I can no longer use CoinBase for money laundering.
The great advantage of the USD wallet is that the transactions take place immediately, rather than having to wait seven days as happened with my EFTs. The price was locked-in when I ordered the purchase but I wasn't permitted to trade the ETH or LTC for over a week.
Now I have BTC 0.0253 that just now is worth $169.15.
My code is going to go beta by the middle of next week. That means I get paid. I'm going to buy one BitCoin - presently that costs $6,682.00 - as well as a mining rig.
The reason I'm doing this is that I have no other hope of funding a decent retirement. Even if I contribute the maximum of $6500 - the "catch-up" rate for people over 50 - until I'm 65, my retirement will have me living like a starving artist through all of my golden years.
So I'm speculating on cryptocurrency. Even if I lose it all, my retirement won't really be any worse than I presently foresee it.
I might form a 501(c)3 tax-deductible non-profit corporation to operate Soggy Jobs. If I do that I could give myself the employment benefit of a 401k, which will enable me to contribute about three times as much as my IRA permits.
I'm soliciting donations but they're not yet tax-deductible.
Google.org exists to give money to charities. I expect I can make a good case for contributing to soggy jobs. There are many philanthropic organizations; if I do form the non-profit I'm going to work with a grant writer to get me some of those Samoleons.
(Score: 2) by MichaelDavidCrawford on Saturday November 11 2017, @07:58AM (5 children)
I can't speculate very aggressively because CoinBase charges $2.99 per transaction.
I have a friend who used to be a day trader. He found it cripplingly stressful, and didn't make any more money than he'd make at a regular job. So he quit trading and got a regular job. He's quite happy now.
I can be obsessive to the point that I need to be in a nuthouse. To keep the stress down I am committed to trading no more than twice per day, once before I leave for work and once after I get home.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by Nerdfest on Saturday November 11 2017, @02:56PM
Seems to me BTC is in a bit of a bubble, but I have no real data to back that up.
(Score: 3, Insightful) by Snow on Wednesday November 22 2017, @10:19PM (3 children)
Some advice: Don't day trade. Pick your asset, and hold based on the fundamentals.
I've seen too many people get rekd day trading crypto.
(Score: 2) by MichaelDavidCrawford on Thursday November 23 2017, @01:47AM (2 children)
I'll hold it at least two years so as to qualify for long term capital gains
Yes I Have No Bananas. [gofundme.com]
(Score: 0) by Anonymous Coward on Thursday November 23 2017, @06:32PM (1 child)
So you want to make a long-term investment based on a short-term price spike. Uhh, Ok. Your money, not mine.
(Score: 2) by MichaelDavidCrawford on Thursday November 23 2017, @11:48PM
_speculate_ now: I would do OK if I lost all that money.
The reason I believe it will continue to rise is that the traditional investment community is just starting to get into it, but I don't see irrational exhuberance yet.
When the rationality is gone I'll sell.
Yes I Have No Bananas. [gofundme.com]
(Score: 1) by khallow on Saturday November 11 2017, @04:57PM (1 child)
(Score: 2) by MichaelDavidCrawford on Saturday November 11 2017, @10:56PM
But I accept that a lot of other people think it is money
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by takyon on Saturday November 11 2017, @07:56PM
If they can't figure out why they should not donate, they deserve to lose all the money you can squeeze them for.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 5, Funny) by realDonaldTrump on Saturday November 11 2017, @08:30PM
Michael, your profile says you sleep in a tent, in a good tent. Let me tell you, it's very hard for a tent to be good. Last year, I offered to build a ballroom at the White House, to pay $100 million of my own money to build a ballroom. So they wouldn't have to put up a tent. But they told me "no," that was very foolish. Tents are for poor people and Arabs. You live in a tent, people will think you're one or the other. You don't want that, believe me.
Let me tell you, a few years back President Qaddhafi's people, the Libyan president's people, came to me. They came to a lot, a lot of landlords in New York and New Jersey. Trying to rent an estate for the president to stay at when he visited the UN. But those racist landlords told them "no." I said "yes" but I almost wish I hadn't. Because he put up a huge tent for his parties. Very trashy! My neighbors came to me, they said Donald, this is seriously downgrading the area. And what could I tell them? It was hard to tell them they were wrong. Because they weren't wrong.
Back in the '80s, Ivana and I were setting up our apartment. Our Trump Tower penthouse in New York City, very prestigious location on Fifth Avenue. We wanted it to look great. So we hired what everyone told us was the best interior designer, Angelo Donghia. Everyone said he was the best, he wasn't the best. I told him, put gold everywhere. We're rich, we can afford the best, which is gold everything. He didn't listen, he only put in a little bit of gold. You could hardly see it. The place was all dark. It looked like a poor person's house. I don't want to bring someone to my apartment and have that person thinking, "oh, look at this guy's place, he must be poor, I can be very unfair when I make a deal with him." So we ripped it all out. Took out all that junk, found a guy who does casinos. I was just getting into casinos and I knew a guy. Who nobody had heard of, but I knew he'd do a great job. Which he did, he fixed it up beautifully. Big, beautiful chandeliers everywhere. Gold everywhere. Beautiful Roman statues (very sexy), Louis XIV furniture, and a ton of art. It's a beautiful residence, it's very elegant. People respect that. A tent gets you no respect. None at all. A nice penthouse full of gold gets you respect. A skyscraper with your name on it in gold gets you respect. And respect gets you much better deals, much better opportunities.
(Score: 4, Interesting) by JNCF on Saturday November 11 2017, @10:11PM (3 children)
I don't know how long you're keeping your coins on Coinbase, but I wouldn't keep funds in any third-party wallet any longer than necessary. For long-term storage, I would recommend one of these two options:
1) Download this website, [bitcoinpaperwallet.com] and use it on a computer that never again touches the internet. Generate your wallet. Either print it (extra paranoia points if the printer never again touches another computer), or hand-write the keys and then type them back into the computer multiple times to make sure that you have them written correctly. You're smart enough to make a computer check if two strings match.
2) Download bitcoind, never touch the internet again with that computer, generate your keys, encrypt them with a good password, and store them on some media that has a relatively long shelf-life (not flash memory).
In either event, make multiple copies.
Feel free to ignore this advice (some of it may be overly paranoid), but don't blame Bitcoin if you get goxxed by Coinbase. Allowing a third-party to store your coins totally undermines the security of your coins, though it is convenient for some transactions at the moment.
(Score: 3, Informative) by krishnoid on Tuesday November 14 2017, @09:36PM (2 children)
I just heard about M-Disc [pcworld.com] a few days ago. That should work well, right?
(Score: 2) by JNCF on Tuesday November 14 2017, @09:58PM (1 child)
I hadn't heard of that, but I like what I'm reading! Thanks for the link.
(Score: 2) by krishnoid on Tuesday November 14 2017, @10:32PM
Note that another article [goughlui.com] confirms the DVD's have been durability-tested, but the BD-R's haven't, despite the claims on the box.