I´m reminded of a Seinfeld episode where George's girlfriend gets a nose job. She takes off the bandages and: Elaine (wincing): It looks good.
Jerry: Great job.
Kramer: You got butchered. It would be nice to have a Kramer around who could always be counted on for an honest opinion.
Here in Arizona, the attorney drawing up my estate plan gave me a list of all the licensed fiduciaries in the state, highlighting a couple recommendations. I interviewed a few before deciding.
I was early to bitcoin, and sold it all in 2017 in order to retire a few years early. After doing some study and learning more about it I've gotten back in. Two comments relevant to your story:
Bitcoin is not 'crypto'. Crypto is ten thousand bitcoin knockoffs (and VCs, e.g. Mark Cuban) trying to scam you. Bitcoin is the original innovation and grew as a grassroots movement. It's the only one that is completely decentralized and it comprises the most powerful network of computing power the world has ever seen.
Bitcoiners like to say "not your keys, not your coins." I.e. if you don't take your bitcoin off exchanges and hold it privately it is not really yours, and unfortunately your experience demonstrates that.
I think Lyn Alden is one of the most savvy investment analysts out there who is pro-bitcoin. She disregarded it in 2017, but has since added it to her portfolio as a long-term investment. Here's a recent article of hers on the subject, for anyone who would like to understand it better: https://www.lynalden.com/gold-and-bitcoin/ Other well known and highly respected investors who own bitcoin include Ray Dalio, Bill Miller, Stanley Druckenmiller, and Paul Tudor Jones.
I don't remember you bragging about not buying bitcoin in '21, when it was up 109%, or '20, when it was up 301%, or '19, when it was up 95%, or any of the 6 of the 8 prior years where it was the best performing asset in the world.
Richard, I have a condition that sounds similar to yours in the big toe on my right foot. My podiatrist diagnosed it as hallux rigidus (fancy latin term meaning "stiff big toe", ha!). It tends to be a progressive disease, so he expected it to get worse over time, and said the usual fix when it gets bad enough is to fuse the bones in the toe. I've been making sure to flex it every day, walking up hills, using a rower, doing pushups, and kneeling back on my heels with my toes bent forward. So far it's seemed to help. There's been no further progression in the last five years. Fingers crossed for another five!
Jim, since you're a fan of new words, you might find the story of the origin of 'hodl' entertaining. From coindesk.com:
On a December morning in 2013, user GameKyuubi posted an entry titled “I AM HODLING” in a bitcoin forum. “I type d that tyitle twice because I knew it was wrong the first time,” he wrote in the first sentence of a drunken post loaded with typos and phrases in all caps.
The misspelling caught on and is used in the bitcoin community to represent holding long term vs. trading. The 'hold on for dear life' interpretation came later.
Hold onto your bitcoin! It has its ups and downs, but no one has ever lost money on it who kept it more than 4 years. Last year wasn't so great, but it was the best performing asset class in the world, by large margins, for 8 of the previous 10 years.
You can also buy an annual senior pass for $20. When it expires you can buy another, but don't throw away your old one. If you collect four you can trade them in for a lifetime pass.
Comments:
I´m reminded of a Seinfeld episode where George's girlfriend gets a nose job. She takes off the bandages and: Elaine (wincing): It looks good. Jerry: Great job. Kramer: You got butchered. It would be nice to have a Kramer around who could always be counted on for an honest opinion.
Post: Confidence Game
Link to comment from November 30, 2023
Here in Arizona, the attorney drawing up my estate plan gave me a list of all the licensed fiduciaries in the state, highlighting a couple recommendations. I interviewed a few before deciding.
Post: A Better Plan
Link to comment from May 23, 2023
Okay, perhaps a bit hyperbolic, but looking around I find this in a Forbes article:
So I'd be surprised if there's ever been any more powerful network of computers dedicated to a single task.Post: Voyage to Nowhere
Link to comment from July 27, 2022
I was early to bitcoin, and sold it all in 2017 in order to retire a few years early. After doing some study and learning more about it I've gotten back in. Two comments relevant to your story:
- Bitcoin is not 'crypto'. Crypto is ten thousand bitcoin knockoffs (and VCs, e.g. Mark Cuban) trying to scam you. Bitcoin is the original innovation and grew as a grassroots movement. It's the only one that is completely decentralized and it comprises the most powerful network of computing power the world has ever seen.
- Bitcoiners like to say "not your keys, not your coins." I.e. if you don't take your bitcoin off exchanges and hold it privately it is not really yours, and unfortunately your experience demonstrates that.
I think Lyn Alden is one of the most savvy investment analysts out there who is pro-bitcoin. She disregarded it in 2017, but has since added it to her portfolio as a long-term investment. Here's a recent article of hers on the subject, for anyone who would like to understand it better: https://www.lynalden.com/gold-and-bitcoin/ Other well known and highly respected investors who own bitcoin include Ray Dalio, Bill Miller, Stanley Druckenmiller, and Paul Tudor Jones.Post: Voyage to Nowhere
Link to comment from July 26, 2022
I don't remember you bragging about not buying bitcoin in '21, when it was up 109%, or '20, when it was up 301%, or '19, when it was up 95%, or any of the 6 of the 8 prior years where it was the best performing asset in the world.
Post: Take a Bow
Link to comment from July 13, 2022
Richard, I have a condition that sounds similar to yours in the big toe on my right foot. My podiatrist diagnosed it as hallux rigidus (fancy latin term meaning "stiff big toe", ha!). It tends to be a progressive disease, so he expected it to get worse over time, and said the usual fix when it gets bad enough is to fuse the bones in the toe. I've been making sure to flex it every day, walking up hills, using a rower, doing pushups, and kneeling back on my heels with my toes bent forward. So far it's seemed to help. There's been no further progression in the last five years. Fingers crossed for another five!
Post: Six Months On
Link to comment from July 13, 2022
Jim, since you're a fan of new words, you might find the story of the origin of 'hodl' entertaining. From coindesk.com:
The misspelling caught on and is used in the bitcoin community to represent holding long term vs. trading. The 'hold on for dear life' interpretation came later.Post: Buy and Hodl
Link to comment from July 11, 2022
Table here comparing asset classes from 2011 through 2021: https://poolyab.com/wp-content/uploads/2021/03/Bitcoin-recorded.jpg
Post: The Krone Stops Here
Link to comment from May 23, 2022
Hold onto your bitcoin! It has its ups and downs, but no one has ever lost money on it who kept it more than 4 years. Last year wasn't so great, but it was the best performing asset class in the world, by large margins, for 8 of the previous 10 years.
Post: The Krone Stops Here
Link to comment from May 23, 2022
You can also buy an annual senior pass for $20. When it expires you can buy another, but don't throw away your old one. If you collect four you can trade them in for a lifetime pass.
Post: Best Senior Discount
Link to comment from May 21, 2022