PERSONAL READINESS > Financial Prep

Ethereum

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Flyin6:
OK with the success I have seen in BitCoin in the past three months, I have expanded the experiment

On the BitCoin thread we recently noted a value that was 1.5 times the initial investment in less than three months. I would say that is beyond outstanding.
During the week or so when I first jumped in, I invested about $9,000 total. Today that account shows approximately $22,000

Based on the performance I am seeing there, I have been thinking around a standard to invest and protect the money in play. It currently looks something like this: When the investment doubles in value, the monies beyond that threshold become available to invest in something else. Based on the amount of initial investment I will wait until I have another 50% beyond the doubling figure, then use up to all of that additional figure as the next investment capital.

I should see that in the next month with this Bitcoin investment.

Looking at all the free money the feds are spreading around and knowing that a day wasted is a dollar not made, I invested $4,000 of my own cash in the second Crypto I am eyeing, that being Ethereum.

Although the buy was for $4,000 I will se just $1,000 for comparison on this our next crypto thread.

Date purchased:             11 March, 2021
Cost:                             $1,000
ETH purchased:              .54615
ETH value 1st purchase:  $1,831
Current ETH                    $1,831

Current value:                $1,831
Gain/(loss)                     $N/A 
Increase                       

Flyin6:
I'm about to plunk down some money on this new barn, so I have concocted a plan to pay for it

You see, I would like to build it for free.

So I am investing a bit more of my cash into this explosive (both ways up and down) to try to earn the entire cost of the barn simply from this investment. With the government OK'ing this Covid $1.9T aid package, and having only 5% of that money actually on hand, the cash pool is going to be noticeably diluted in the coming months. You think a 2X4 costs a lot now, well, check back in the fall and be prepared for your new normal. If you kept cash in the bank, you will be worth, I'm guessing around 30% less. So you either have to tie your money to a bouy that rides the tide or just watch it all slowly disappear.

Lets say you start with $10K today. By fall that should have the buying power of $7,000 today. Everything will have gotten more expensive but your dollar did not increase in value it just stayed at one dollar. Now lets say you have to pay out something in the fall, like the 10% the home owners insurance does not cover on your roof. A big hail storm and high winds has ruined it and it now requires replacement. Your shingle repair which would have cost $12,000 now will cost $15,600. Your 10% will set you back $1,560. Now let's add a health issue or a wrecked car or a lost job and three months unemployment and you are a smoking ruin. If you were sitting atop the buoy you may still be solvent.

And that's how this Crypto works. Not only did the thing stay with inflation, it was making money hand over fist along the way. And why? Because smart people realized that an uncontrolled, unregulated, untraceable asset like crypto that is outside the purview of banks and guberment is exactly where the brain power has sought refuge...just like they are doing now.

Flyin6:
Date purchased:             11 March, 2021
Cost:                             $1,000
ETH purchased:              .54615
ETH value 1st purchase:  $1,831
Current ETH                    $1,894

Current value:                $1,034
Gain/(loss)                     $34
Increase                         3.4%


Just for grins, had you deposited the same money into your bank savings account you wouldn't have a quarter of that paltry 3.4% after a year!!!!!!

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