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Double 2021-01-08 00:56:31

Many years ago around 2008, someone I knew asked me to invest in the stock market. Seeing how every single thing was plummeting tot he ground, I thought the idea was insane. NPR was talking about in 25 days, wall street could reach 0 if it keeps falling the way it was. There were many responsible people who were losing money in the hundred thousands because their account wasn't FDIC insured. Everything around finance seemed like it was getting worse by the second. So I refused to invest until I had a better idea about investing.

I ended up opening a Scott trade account, putting an initial investment and promptly doing nothing. For a while. My plan was to read the 2 books around finance by Tony Robbins and then invest.

Then in 2020 COVID happened. I started to think about things in a long term perspective. And I cleaned up all my finances. Got rid of so many subscriptions that did nothing for me. I started to feel much better after making a few good financial decisions.

But the best decision I made around finance was investing in crypto currency. I joined when bitcoin was hovering around $19K. And I thought that I missed out on the profits I could have made when it moved from $7k - 19K. But just today, bitcoin hit $40K. More than double in 22 days. I didn't put too much in since I do not fully understand it. But at this point, I am anxious and excited about where this could go. There are many credible predictions of $50k-150K per coin by the end of 2021. There is also one insane prediction of $1.2 million per coin. The main driver of the rise is the fact that people have lost their confidence in cash as a currency due to the rate of the printing currency since COVID. 

I hope that this is not a dream and we are going to move to cryptocurrency soon. 

More from Keni

Speculation will suck in people who don't understand the "game" -- as long as their are players, the price can increase -- and, there will always be players.
2021-01-08 02:50:56
Yeah it does seem like a Ponzi scheme or at least a bubble. I need to be careful but it is so tempting to be reckless. 
2021-01-09 01:13:56
Long long term, you cant lose with crypto - or not with Bitcoin at least, it's basically the index for all the other coins even if it's useless as hell. The best comparisons IMO are those that liken it to gold. They even mine it! But seriously, think about it, will Bitcoin be dead in 20 years? It may crash multiple times but it's still not going anywhere. Unless we simply lose electricity and the internet, Bitcoin is here for the loooong haul. So, just HODL!
2021-01-09 22:40:24
Here's another perspective. We're only just figuring out how useful bitcoin is for criminal activity.

Summary: It's never going away.
2021-01-10 17:26:42
Agreed and hopeful that it will stay around. It just went down a couple of thousands this morning. I need to stop refreshing my account and be ready for anything. 

2021-01-10 18:05:08
Bitcoin related: https://twitter.com/smdiehl/status/1350869944888664064
2021-01-17 21:37:35
Thank you Brian. I am staying away from any crypto news now. It is unhealthy. 
2021-01-18 23:25:03