6.00
4 comments
Created by Mike_Crawford 2 weeks, 1 day ago
[ 6.00 | 0.00 ] [#2799]

Passing the ten grand mark is going to lead a great many naive investors to get into cryptocurrency out of "the fear of being left behind".

It started the year at $1000, but back then I was still duking it out with procrasti.

I still don't agree that bitcoin is money, but I am willing to concede that a lot of other people think it is.

Even so, LiteCoin is up a greater percentage than is bitcoin. My position is now ALL LiteCoin - all $108.90 of it!

I have decided to move my dollars to that one of BitCoin, Ethereum and LiteCoin that has gained the greatest percentage in the previous day.

That doesn't work so well with Coinbase's $2.99 transaction fee. I can't buy bitcoin with lite coin there - I have to go through my USD account so I pay for two transactions -$5.98.

But I'm expecting my wire to arrive from China on Friday, Monday at the latest.

When it gets here I'm going to buy ten grand of cryptocurrency. With that much money the transaction fees will be negligible.

Many think its a bubble. I feel that it is in a way, but in another way it's not. The price is being driven up by increasing numbers of speculators. But at the same time increasing numbers of online merchants accept bitcoin as payment - 100,000 merchants so far.

Even if the speculators flee the cryptos, there will still be lots of demand so you can pay merchants world-wide without dealing with foreign currency exchange, or the credit card vendors asinine policy of charging a fee for foreign transactions.

Look you ignorant mother fuckers: it's the WORLD WIDE web, not just a series of tubes.


[ Reply ]

2.65
Created by anonymous 1 week, 6 days ago
[ 2.65 | 0.00 ] [#13156]

LOL!


[ Parent | Reply ]


0.00
Created by Mike_Crawford 1 week, 6 days ago
[ 0.00 | 0.00 ] [#13159]

My housing manager quite assertively instructed me not to buy any BitCoin.

I expect he regards BitCoin as being just as valuable as magic beans.

He eventually compromised by telling me to buy only $100 worth.

I emailed him after his visit to inform him that I bought $200 worth of ETH before he came to my apartment.

I further explained that my only hope for a comfortable retirement was to speculate - not invest: "speculate". I did attempt to set his mind at ease by pointing out that I'll be contributing the age 50 or over "Catch-Up Contribution" of $6500, and that I will make only conservative investments with my IRA. I told him - and this really is true - that I'll use that whole $6500 to buy an S&P 500 index fund.

Everybody at Community Services Northwest is at the same time proud and puzzled by me. I mean I'm this USMC Lieutenant Colonel who bivouacked under a highway overpass until the enemy slashed up his tent, then I get a job which pays far more than any CSNW employees can ever hope to earn in their entire lives, and I actually know what an IRA is and why S&P 500 index funds are wise investments.

They were all please about this but then I told them all that when my wire FINALLY arrives I'm going to run right out and spend ten grand on magic beans.

Shortly before my discharge from Western State Hospital the patient financial manager at Western met privately with me so he could get my signature on a form that enabled him to get my lifetime pay history, so that I could qualify for the government tit.

When he told me of his evil plans, I pointed out that I was not disabled, I was a software engineer. I readily agree that I am mentally ill - and I told him so - but that being batshit insane doesn't interfere with my ability to write code, so I didn't need any government tit milk.

"That's OK," he assured me, "if you don't need the money you can cancel it".

He came back a few days later both dismayed and puzzled that my pay for 2008 was $102,500. He said that was a strange amount of money. How was it that I earned so much, but not a round number like $100k?

I explained that in reality I was paid $150k that year, but the social security maximum pay was $102,500. Then I reminded him that I wasn't disabled because I'm a software engineer.

"This is a mental hospital. People say all kinds of things."

He was on the verge of tears because he just found out this "mad as a cut snake but at least you're an independent thinker" imaginary coder earned far more than he - as a public employee - could ever hope to make.

Social Security told him I didn't qualify for SSDI when he asked them if I would still be considered disabled if I during my hospitalization I had been writing an iPhone App on paper with a pencil. "He's working," they explained "so he's not disabled. KTHANKSBYE"

But it was made crystal clear that I would never get out of that insane asylum unless I applied for - and actually received - GA-X, more commonly known as General Assistance. So I signed the damn form.

When my approval came, my social worker congratulated me for this achievement, then told me that I would receive $132.00 per month.

I totally blew my stack: "WHY THE HELL DID YOU FORCE ME TO APPLY FOR GA-X? THAT"S NOT EVEN ENOUGH TO PAY MY TRAIN FARE TO GET TO WORK IN DOWNTOWN PORTLAND!" I didn't have a job but I was working on Warp Life from my favorite cafe.

A little but bright light bulb appeared just above the social workers head, and she agreed to recommend I be discharged.

Tony the financial guy was blowing smoke when he told me I could always cancel my GA-X. I required many phone calls and several months before the state welfare people agreed to cancel it.

After I discovered that it had not been cancelled after my first phone call, I withdrew my whole month's allotment from an ATM in Mary's Club, then blew the entire wad on stripper tips, private dances and admission to a pr0n theater that was organized as a private club so if we got really really really lucky we might get to screw one of the very few women who were members of that same club.

A couple weeks later I told an Administrative Law Judge that "I spent my whole month's GA-X on prostitutes! And you tell me you can't cancel it?"

I didn't really spend it on prostitutes - $132 is not enough, they go for $200 around here - but that's what I said to the judge.

She curtly informed me that if I wanted - WANTED SHE SAID - to keep my GA-X milk flowing, I had to show up in person for another administrative law hearing. The fuck? Are you deaf or just ignorant?

Within minutes after my telephone hearing - which commenced when the judge cold-called me without any advance notice - I rang up the judge's clerk then asked whether my hearing was recorded, and if so could I get a copy of said recording?

It was easy to tell that the clerk was struggling to keep a straight face while at the same time struggling to avoid pissing herself laughing.

The CD with my recording arrived the very next day. I intended to post the recording on my site but neglected to deal with it right away. The CD got buried in my storage locker.

I definitely still have that CD. Someday I'm going to buy a full-page ad in The Columbian then publish a transcript there.

Maybe I can get that recording played on the radio. I expect Rush Limbaugh would be heavily into that sort of thing.


[ Parent | Reply ]


0.00
Created by anonymous 2 weeks ago
[ 0.00 | 0.00 ] [#13104]

BTC is SoV, not your ordinary money...

your position is all Satoshi Lite? LTC is going to be function like USD ( not other smaller FIAT...) among the three biggest market player...

"But I'm expecting my wire to arrive from China on Friday, Monday at the latest." HAS IT COME? IN WHAT FORM? curious...


[ Parent | Reply ]


0.00
Created by Mike_Crawford 2 weeks ago
[ 0.00 | 0.00 ] [#13112]

This particular client is extremely reliable about paying me.

However I am distressed that I didn't have that money a month ago, so I could have doubled my investment... er, ah... set my dollar bills on fire, because it's been cold around these parts.

I'm not going to keep all my money in LTC. What I aim to do is to each day determine which of the three will grow the most that day, then move all my money into that (hopefully) quickly growing cyber.

Go to coinbase.com then register for a free account. (One can only see their price graph when one is a logged-in user.). Click on Week or Month, then slowly click on each of BTC, ETH and LTC.

Just now I observed that they all go up and down the same way, but not quite simultaneously. I expect lots of other people are doing the same thing that I am now doing, but with enough coins to visibly move the market.

BTC went over $11,000 today but in ten minutes collapse to $9000 in the space of ten minutes when the service offered by coin base's parent company crashed. I expect it did so because so many trades were taking place all at the same time.

I'm not concerned with a crash - that's an opportunity to buy some cheap coin - but I am concerned with a long term crash. I'm only - ONLY! - going to invest ten grand, then will gradually put some back in my checking account so as to - hopefully - recover my principal. After that I will only trade on what was profit during the time between my initial investment and when I have the principal all the way recovered.

I would make quite a lot more if I left the principal in my wallet, but I really do fear a long term collapse. While I would be dismayed if I lost all that profit, really I would have lost nothing other than the opportunity to Get Rich Quick.


[ Parent | Reply ]