$6M Worth of Tether on the Bitcoin Cash Chain Highlights ...

Do stuff for some coin or give it away, it's just that easy!

Want to earn some coin? Want to give some coin? Want to exchange coin for tasks or objects no matter how serious or silly? Then this is the place for you! There are many subreddits that pay you for tasks but this one is just for cryptocurrency! That's right any cryptocurrency is welcome here so go a head and make a post! Contests are welcome too!
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Reddit by day and by night

For all things 'Merican and Aussie. Because two kick ass countries is better than one.
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It’s 2028 and 1 Bitcoin is worth 1 million US dollars. If a luxury home was worth 1 million US dollars back in 2019, what would you estimate that this same luxury home is worth in USD and in BTC now? Does hyperbitcoinization require hyperinflation of government currencies and real estate?

It’s 2028 and 1 Bitcoin is worth 1 million US dollars. If a luxury home was worth 1 million US dollars back in 2019, what would you estimate that this same luxury home is worth in USD and in BTC now? Does hyperbitcoinization require hyperinflation of government currencies and real estate? submitted by Sandiegosurf1 to Bitcoin [link] [comments]

"The reason why millions of dollars were spent to attack & defend Bitcoin Cash BCH is because it’s something truly worth fighting over. It’s sound money. It’s permissionless. It’s what Satoshi Nakamoto wrote about in 2008. It’s Bitcoin, a Peer-to-Peer Electronic Cash System."

submitted by scotty321 to btc [link] [comments]

Bitcoin made anyone who bought a couple of dollars’ worth of bitcoin in its early days rich...so what is the next bitcoin?

submitted by I-skin-campers to AskReddit [link] [comments]

Bitcoin mentioned around Reddit: Bitcoin made anyone who bought a couple of dollars’ worth of bitcoin in its early days rich...so what is the next bitcoin? /r/AskReddit

submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

ELI5: How can a cryptocurrency like bitcoin be deregulated when it's worth is still measured in dollars or euros or what ever currency you're used to? /r/Bitcoin

ELI5: How can a cryptocurrency like bitcoin be deregulated when it's worth is still measured in dollars or euros or what ever currency you're used to? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Close to half a billion dollars worth of the bitcoin virtual currency has gone missing from an exchange in Tokyo - in what is either the bank heist of the century or a sloppy glitch, or a combination of the two.

submitted by Orangutan to worldpolitics [link] [comments]

Close to half a billion dollars worth of the bitcoin virtual currency has gone missing from an exchange in Tokyo - in what is either the bank heist of the century or a sloppy glitch, or a combination of the two.

Close to half a billion dollars worth of the bitcoin virtual currency has gone missing from an exchange in Tokyo - in what is either the bank heist of the century or a sloppy glitch, or a combination of the two. submitted by Orangutan to Bitcoin [link] [comments]

Libertarian Police

I was shooting heroin and reading “The Fountainhead” in the front seat of my privately owned police cruiser when a call came in. I put a quarter in the radio to activate it. It was the chief.
“Bad news, detective. We got a situation.”
“What? Is the mayor trying to ban trans fats again?”
“Worse. Somebody just stole four hundred and forty-seven million dollars’ worth of bitcoins.”
The heroin needle practically fell out of my arm. “What kind of monster would do something like that? Bitcoins are the ultimate currency: virtual, anonymous, stateless. They represent true economic freedom, not subject to arbitrary manipulation by any government. Do we have any leads?”
“Not yet. But mark my words: we’re going to figure out who did this and we’re going to take them down … provided someone pays us a fair market rate to do so.”
“Easy, chief,” I said. “Any rate the market offers is, by definition, fair.”
He laughed. “That’s why you’re the best I got, Lisowski. Now you get out there and find those bitcoins.”
“Don’t worry,” I said. “I’m on it.”
I put a quarter in the siren. Ten minutes later, I was on the scene. It was a normal office building, strangled on all sides by public sidewalks. I hopped over them and went inside.
“Home Depot™ Presents the Police!®” I said, flashing my badge and my gun and a small picture of Ron Paul. “Nobody move unless you want to!” They didn’t.
“Now, which one of you punks is going to pay me to investigate this crime?” No one spoke up.
“Come on,” I said. “Don’t you all understand that the protection of private property is the foundation of all personal liberty?”
It didn’t seem like they did.
“Seriously, guys. Without a strong economic motivator, I’m just going to stand here and not solve this case. Cash is fine, but I prefer being paid in gold bullion or autographed Penn Jillette posters.”
Nothing. These people were stonewalling me. It almost seemed like they didn’t care that a fortune in computer money invented to buy drugs was missing.
I figured I could wait them out. I lit several cigarettes indoors. A pregnant lady coughed, and I told her that secondhand smoke is a myth. Just then, a man in glasses made a break for it.
“Subway™ Eat Fresh and Freeze, Scumbag!®” I yelled.
Too late. He was already out the front door. I went after him.
“Stop right there!” I yelled as I ran. He was faster than me because I always try to avoid stepping on public sidewalks. Our country needs a private-sidewalk voucher system, but, thanks to the incestuous interplay between our corrupt federal government and the public-sidewalk lobby, it will never happen.
I was losing him. “Listen, I’ll pay you to stop!” I yelled. “What would you consider an appropriate price point for stopping? I’ll offer you a thirteenth of an ounce of gold and a gently worn ‘Bob Barr ‘08’ extra-large long-sleeved men’s T-shirt!”
He turned. In his hand was a revolver that the Constitution said he had every right to own. He fired at me and missed. I pulled my own gun, put a quarter in it, and fired back. The bullet lodged in a U.S.P.S. mailbox less than a foot from his head. I shot the mailbox again, on purpose.
“All right, all right!” the man yelled, throwing down his weapon. “I give up, cop! I confess: I took the bitcoins.”
“Why’d you do it?” I asked, as I slapped a pair of Oikos™ Greek Yogurt Presents Handcuffs® on the guy.
“Because I was afraid.”
“Afraid?”
“Afraid of an economic future free from the pernicious meddling of central bankers,” he said. “I’m a central banker.”
I wanted to coldcock the guy. Years ago, a central banker killed my partner. Instead, I shook my head.
“Let this be a message to all your central-banker friends out on the street,” I said. “No matter how many bitcoins you steal, you’ll never take away the dream of an open society based on the principles of personal and economic freedom.”
He nodded, because he knew I was right. Then he swiped his credit card to pay me.
submitted by CringeNibba to Libertarian [link] [comments]

Libertarian police

I was shooting heroin and reading “The Fountainhead” in the front seat of my privately owned police cruiser when a call came in. I put a quarter in the radio to activate it. It was the chief.
“Bad news, detective. We got a situation.”
“What? Is the mayor trying to ban trans fats again?”
“Worse. Somebody just stole four hundred and forty-seven million dollars’ worth of bitcoins.”
The heroin needle practically fell out of my arm. “What kind of monster would do something like that? Bitcoins are the ultimate currency: virtual, anonymous, stateless. They represent true economic freedom, not subject to arbitrary manipulation by any government. Do we have any leads?”
“Not yet. But mark my words: we’re going to figure out who did this and we’re going to take them down … provided someone pays us a fair market rate to do so.”
“Easy, chief,” I said. “Any rate the market offers is, by definition, fair.”
He laughed. “That’s why you’re the best I got, Lisowski. Now you get out there and find those bitcoins.”
“Don’t worry,” I said. “I’m on it.”
I put a quarter in the siren. Ten minutes later, I was on the scene. It was a normal office building, strangled on all sides by public sidewalks. I hopped over them and went inside.
“Home Depot™ Presents the Police!®” I said, flashing my badge and my gun and a small picture of Ron Paul. “Nobody move unless you want to!” They didn’t.
“Now, which one of you punks is going to pay me to investigate this crime?” No one spoke up.
“Come on,” I said. “Don’t you all understand that the protection of private property is the foundation of all personal liberty?”
It didn’t seem like they did.
“Seriously, guys. Without a strong economic motivator, I’m just going to stand here and not solve this case. Cash is fine, but I prefer being paid in gold bullion or autographed Penn Jillette posters.”
Nothing. These people were stonewalling me. It almost seemed like they didn’t care that a fortune in computer money invented to buy drugs was missing.
I figured I could wait them out. I lit several cigarettes indoors. A pregnant lady coughed, and I told her that secondhand smoke is a myth. Just then, a man in glasses made a break for it.
“Subway™ Eat Fresh and Freeze, Scumbag!®” I yelled.
Too late. He was already out the front door. I went after him.
“Stop right there!” I yelled as I ran. He was faster than me because I always try to avoid stepping on public sidewalks. Our country needs a private-sidewalk voucher system, but, thanks to the incestuous interplay between our corrupt federal government and the public-sidewalk lobby, it will never happen.
I was losing him. “Listen, I’ll pay you to stop!” I yelled. “What would you consider an appropriate price point for stopping? I’ll offer you a thirteenth of an ounce of gold and a gently worn ‘Bob Barr ‘08’ extra-large long-sleeved men’s T-shirt!”
He turned. In his hand was a revolver that the Constitution said he had every right to own. He fired at me and missed. I pulled my own gun, put a quarter in it, and fired back. The bullet lodged in a U.S.P.S. mailbox less than a foot from his head. I shot the mailbox again, on purpose.
“All right, all right!” the man yelled, throwing down his weapon. “I give up, cop! I confess: I took the bitcoins.”
“Why’d you do it?” I asked, as I slapped a pair of Oikos™ Greek Yogurt Presents Handcuffs® on the guy.
“Because I was afraid.”
“Afraid?”
“Afraid of an economic future free from the pernicious meddling of central bankers,” he said. “I’m a central banker.”
I wanted to coldcock the guy. Years ago, a central banker killed my partner. Instead, I shook my head.
“Let this be a message to all your central-banker friends out on the street,” I said. “No matter how many bitcoins you steal, you’ll never take away the dream of an open society based on the principles of personal and economic freedom.”
He nodded, because he knew I was right. Then he swiped his credit card to pay me.
submitted by SnooDingos3781 to copypasta [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

I bought $1k of the Top 10 Cryptos on January 1st, 2020 (Sept Update)

I bought $1k of the Top 10 Cryptos on January 1st, 2020 (Sept Update)

EXPERIMENT - Tracking Top 10 Cryptos of 2020 - Month Nine - UP +56%
See the full blog post with all the tables here.
tl;dr
  • I thought I'd mix it up and start with the 2020 Top Ten first this month.
  • Rough month, but still way up in 2020, and still way ahead of the stock market.
  • I purchased $100 of each of Top Ten Cryptos in Jan. 2020, haven't sold or traded. Did the same in 2018 and 2019. Learn more about the history and rules of the Experiments here.
  • Sept - down month for 2020 Top Ten, except for BNB, which crushed it (+25%)
  • Overall since Jan. 2020 - ETH in the lead (+187%), BNB in distant second place. 100% of 2020 Top Ten are in positive territory and have a combined ROI of +56% vs. +5% of the S&P
  • Combining all three three years, Top Ten cryptos underperforming S&P if I'd taken a similar approach.

Month Nine – UP 56%

2020 Top Ten Overview
After a rough start to the month, most of crypto had a Wake Me Up When September Ends moment. For the 2020 Top Ten Portfolio, it was bad, but could have been (as has been) much worse: it was the best performing of the Top Ten “Index Fund” Experiments in September and at least one of the cryptos (BNB up +25%) had a great month.

Question of the month:

In September, this decentralized exchange (DEX) overtook Coinbase in trading volume:

A) UniswapB) AaveC) CompoundD) Both A and B
Scroll down for the answer.

Ranking and September Winners and Losers

2020 Top 10 Rank
Lots of movement this month: six out of the Top Ten changed positions in September. BCH climbed one from #6 to #5 and BNB made a big move from #10 to #6. Going the opposite direction were BSV, EOS, and Tezos, dropping one, two, and four places respectively.
The big story though, at least for anyone who’s been watching crypto for a while, was the ejection of Litecoin from the Top Ten. In just 30 days, LTC fell five places from #7 to #12. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not has not held a spot in the Top Ten.
Drop outs: after nine months of the experiment, 30% of the cryptos that started 2020 in the Top Ten have dropped out. LTC, EOS, and Tezos have been replaced by ADA, LINK, and most recently, DOT.
September Winners – Winner, singular: BNB was the only crypto to finish in the green, finished up +25% for the month, and gained four places in the rankings. A very good month for Binance Coin.
September LosersTezos was the worst performing crypto of the 2020 Top Ten portfolio, losing nearly a third of its value, down -31% for the month. LTC also had a bad month, losing -24% and dropping out of the Top Ten.
Since COVID-19 has hammered the sporting world, let’s be overly competitive and pit these cryptos against each other, shall we? Here’s a table showing which cryptos have the most monthly wins and losses nine months into the 2020 Top Ten Crypto Index Fund Experiment:

Wins/Losses
ETH is in the lead three monthly Ws, followed by Tether and Tezos with two wins each. Even though it is up +79% since January 1st, 2020, BSV has the most monthly losses: it has been the worst performing crypto of the group four out of the first nine months in 2020.

Overall update – ETH maintains strong lead, followed by BNB. 100% of Top Ten are in positive territory.

Ethereum remains firmly in the lead, up +187% on the year. Thanks to a strong month for BNB and a weak month for Tezos, Binance Coin has overtaken XTZ for second place, and is now up +109% in 2020.
Discounting Tether (no offense Big-T), EOS (+4%) is the worst performing cryptocurrency of the 2020 Top Ten Portfolio. 100% of the cryptos in this group are in positive territory.

Total Market Cap for the cryptocurrency sector:

The overall crypto market lost about $35B in September, ending the month up +85% since the beginning of this year’s experiment in January 2020. Despite a rough month, this is the second highest month-end level since the 2020 Top Ten Experiment started nine months ago.

Bitcoin dominance:


Monthly BitDom - 2020
BitDom ticked up slightly this month, but is still lower than it has been for most of the year. As always, a low BitDom reflects a greater appetite for altcoins. For context, the BitDom range since the beginning of the experiment in January 2020 has been roughly between 57% and 68%.

Overall return on investment since January 1st, 2020:

After an initial $1000 investment on January 1st, the 2020 Top Ten Portfolio is now worth $1,536, up +56%. This is the best performing of the three Top Ten Crypto Index Fund Portfolios, but not by much: the 2019 Top Ten came in at +54% in September.
Here’s the month by month ROI of the 2020 Top Ten Experiment, hopefully helpful to maintain perspective and provide an overview as we go along:
Monthly ROI - 2020 Top Ten
Even during the zombie apocalypse blip in March, the 2020 Top Ten has managed to end every month so far in the green (for a mirror image, check out the all red table you’ll find in the 2018 experiment). The range of monthly ROI for the 2020 Top Ten has been between a low of +7% in March and high of +83% in August.
So, how does the 2020 Top Ten Experiment compare to the parallel projects?
Taken together, here’s the bottom bottom bottom line for the three portfolios:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, the combined portfolios are worth $‭3,340‬ ($238+ $1,538 +$1,564).
That’s up about +11% for the three combined portfolios, compared to +31% last month.
Here’s a table to help visualize the progress of the combined portfolios:
Combined ROI - UP +11%
That’s a +11% gain by buying $1k of the cryptos that happened to be in the Top Ten on January 1st, 2018, 2019, and 2020.
But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (Big L, no pressure, but if you don’t claw yourself back in the Top Ten by January 2021, you’re out of the club). Let’s take a look:

Three Year Club
At this point in the Experiments, Ethereum (+104%) would have easily returned the most, followed by BTC (+77%). On the other hand, following this approach with XRP, I would have been down nearly a third at -31%.
So that’s the Top Ten Crypto Index Fund Experiments snapshot. Let’s take a look at how traditional markets are doing.

Comparison to S&P 500

I’m also tracking the S&P 500 as part of my experiment to have a comparison point to traditional markets. The S&P slipped a bit from an all time high in August and is now up just +5% in 2020.
Over the same time period, the 2020 Top Ten Crypto Portfolio is returning about +56%. The initial $1k investment in crypto is now worth about $1,563. That same $1k I put into crypto in January 2020 would be worth $1050 had it been redirected to the S&P 500 instead. That’s a $513 difference on a $1k investment, one of the largest gaps in favor of crypto all year.
But that’s just 2020. What about in the longer term? What if I invested in the S&P 500 the same way I did during the first three years of the Top Ten Crypto Index Fund Experiments? What I like to call the world’s slowest dollar cost averaging method? Here are the figures:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1260 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1350 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1050 today
So, taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660.
That $3,660 is up +22% since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios over the same period of time.
That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios.
For those keeping track or unable to see the table above: that’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P back in June.

Conclusion:

September saw losses for both traditional and crypto markets, but crypto got hit harder. What can we expect for the rest of 2020? The Neverending Year is entering the final quarter and is not finished with us yet: a lot can and will happen in the remaining months. More volatility is no doubt to come as we enter the final stretch of a truly unpredictable and exhausting year. Buckle up.
Stay healthy and take care of yourselves out there.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2019 Top Ten Experiment follow up experiment.

And the Answer is…

A) Uniswap
As part of the DeFi/DEX wave, in late August/early September, Uniswap surpassed Coinbase in trading volume.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

Small reviews of (I think) all incremental games I've ever played on Android

I don't know if this will be useful to anyone. So I write a line or two about every game I play, and decided to find all the incremental in my game journal and post them here. It starts with the latest games I've played and I think goes back to several years back. One thing I've realized is I have such a love-hate-hate relationship with this genre since I think I've hated 90% of the games and 100% of myself after each incremental phase. I usually angrily stop playing them for a while and restart them again, so this is more or less a journal of addiction, I suppose.
THE BEST GAMES I'VE PLAYED ARE THESE (no order):
  1. Kittens Game
  2. Antimatter Dimensions
  3. Oil Tycoon
Honorable Mention: Eggs, Inc
The rest: more or less hated it
Additional comment if you decide to scan through it, I complain a lot, so it is perfectly reasonable and normal to think, "why the fuck are you even playing these games, idiot??".

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Time Idle RPG
This game was confusing. It tells me the game's resources is time, where you get 1 of it every second, but that's not really something as unique as I assumed. It would have been cool if time as resources meant you used it to deal with something related to time. Maybe time travel? Maybe slowing and speeding time?
Instead time as resource buys you stuff like a library. And then you buy a camp or something. Honestly, I wasn't really feeling it.
2
Path of Idling
The biggest cardinal sin for me when it comes to incremental is when a game has a lot of features and it just completely throws them all at you instantly. The joy of a great incremental is how things slowly open up and each new achievement feels progress.
The game is a RPG game and these are the things that opened up for me in the first few hours.
Combat which includes normal fighting, dungeon, raid, boss, PVP (locked, but it just needs an ascend, which I haven't done)
Skills
Hero upgrades which include Passive (strength, defence, stamina, intelligence), Train, and a huge Tree
Town which you can buy workers who get you various things like gold, orbs, knowledge, etc. You can upgrade stuff here.
Quest that also includes Perks and Skill quests.
Gear which 5 equipment slots, plus craft plus trade plus smelt
Also gear for your Pet, which is also another tab!
Now, here is the thing. Because I have all of this pretty much instantly, I don't really know which ones are helping me go past a well. How is adding 10 points in strength helping me? Should I have added five in strength instead and five in defence? I have already bought 20 or so upgrades in the Tree, but I have no idea if I am made the optimal choice. There is no real excitement with getting new gear. And so on.
The dev has added a lot of features, now it's time to rework the game, and have the features take their time.
2
Idle Slayer
The game is like a super simple platformer. Your character is running and any enemy it hits, it automatically slays it. There is no HP, and all enemies die in one shot. Your only active play is jumping occasionally to grab coins or hit the flying enemies. Also, you have a run skill that has a cool down.
With the coins, we get new weapons that give us more coins. Enemies give us souls which is used for the prestige system that provides us with an interesting skill tree which provides a lot of choices on the path you want to do in terms of upgrades.
So far excellent, however, the game has an extremely serious issue of pacing. The game initially progresses so fast that in the first hour or so, you get almost all the weapons aside from the last two, which then grinds down to a snail pace. You can upgrade your past weapons, but they never really get into play again. Reaching high levels of past weapons sometimes gave me upgrades of that weapon of 10,000% but they still did nothing to my overall coin per second. I think the pacing needs to be fully reworked. It would have been nice to get new weapons after certain prestige cycles, so that every new weapon feels like we have passed a significant wall. The best part of an incremental game for me is to face a wall, and when I finally break it, I feel powerful again for a while. This game feels like this though, powerful powerful powerful powerful WALL........break it....WALL. And so on. I'm still playing it as I want to get some of the skills, but I feel like it could have been so much better.
4
Exponential Idle
A very back to the foundation kind of incremental. The premise is that you are a student and working on a formula. There is a neat story where as you progress in the game, your character progresses through university. Each upgrade gives you more and more automation until I reached a stage where I would check back once every 2 or 3 days, click a 2nd layer prestige reset, and close it. Meaning the game was something like 5 seconds of game player every 2 days. I just opened it for this review and realized I had reached the end game. The story wraps up and it tells me "You can take a rest. Travel a bit. Go outside!" NO, DON'T TELL ME WHAT TO DO GAME.
3
Factoid
Factoid & Spark should have the same review as they are almost the same game with only small differences. The games are the most basic kind of incremental, where you buy something with resources, until you get the next thing which gives you more of the resources. Both give you upgrades to speed things up, and finally prestige and it's own prestige upgrades. That's it. It's nice little change of pace from all the recent incremental that sometimes do too much, but obviously due to the very simple nature of it, it does eventually feel pointless, specially after you more or less open up everything and the prestige upgrades just keep repeating.
3
Spark
Factoid & Spark should have the same review as they are almost the same game with only small differences. The games are the most basic kind of incremental, where you buy something with resources, until you get the next thing which gives you more of the resources. Both give you upgrades to speed things up, and finally prestige and it's own prestige upgrades. That's it. It's nice little change of pace from all the recent incremental that sometimes do too much, but obviously due to the very simple nature of it, it does eventually feel pointless, specially after you more or less open up everything and the prestige upgrades just keep repeating. 3
Antimatter Dimensions
Easily top 5 incremental on mobile. Does everything perfectly. You progress nicely, and when new features open it, not only is it rewarding but more importantly, it keeps adding new dimensions (lol) to the game. I'd at the end game as I write this, and I realize that there was no point in the game where it felt stale. Each new prestige layer made the game feel fresh and almost like a new incremental game.
5
Melvor Idle
It seems this game was mainly aimed at Runescape players, which is probably why it didn't click for me. It also run extremely slow on my phone which also played a part in me not really getting into.
2
A Girl Adrift
The animation is really pretty and is a nice change of pace for incrementals, but I didn't really like the too much active play. Really had to keep going back and forth to different areas to do the fishing which got too repetitive for me.
You travel to different areas of the map to catch fish, which you get points and then you upgrade stuff, but I didn't really find any real excitement about the upgrades because I kept having to go back to previous areas to fish similar creatures.
3
Archer: Danger Phone
I'm really annoyed how terrible of a game this was. Two things I like, the TV show "Archer" and incremental games, and it's done in the most lazy manner. The game is the worst aspect of idle games where it's just a straight path of clicking the next upgrade with absolutely zero decision making. Every once in a while there is a mini game where Archer gets to shoot others but it's done in the most basic form of early 2000s flash games, where the animation budget is probably 3 dollars. Same static background and both enemies and Archer have just two animation frames. The absolute laziness of it is almost insulting to the player, because it feels like we aren't even worth the effort.
There is an Archer story in the game which develops really fast, which is the only positive part, but no voice acting is again another evidence that the creators of the game weren't given any budget for this.
1
Home Quest
This game is way too slow. You have to collect materials to build your settlement but everything takes time, so you click for a few seconds, and then you have to leave the game. Which I'm fine with, but the problem isn't the idle part of it, it's how the idle part of it combines with constant checking of the game which annoys me. I like an idle game where you forget to start the game for a day, you come up to a lot of resources, but this is a game which needs you to check back in every 30 minutes or an hour to really get anywhere. I felt that the micromanagement was getting worse as I progressed (without any actual thing to do when I am active in the game) that made me give up.
2
Idle Industry
This is probably an interesting game, but I gave up because the one thing I really disliked was the amount of resources and manufacturing that very quickly opens to you. You can buy raw materials, and you can either sell these raw materials or turn them into finished goods and sell them either. And each of these has several upgrade options (increase selling price, increase production, etc). Without even really getting too deep into the game, I have around 20 raw materials and around 30 finished products. A satisfying part of this genre is to have things slow open up for you, which gives me a decent feeling of satisfaction. But the money I got would quickly open up new products, so I would just jump ahead and purchase more expensive ones, and after a while I had a lot of materials and products at zero, and was instead focusing on latter ones.
2
Masters of Madness
Somewhat neat atmosphere and visuals, but too much active clicking. Click, upgrade to get more per clicks, get minions to get you some points without clicking, typical clicker, but with the added benefit of almost no idling. I like idling incrementals but clickers is a hard no from me.
1
Soda Dungeon 2
Basically similar to the first one, as far as I could tell. I did "finish" it but maybe I shouldn't have, since it really is the same thing from early on, specially once you get all the heroes and you kind of sort out which characters work best, then it's just the same. But because it was somewhat short and no real wall, it was at least easy to stick to it to the end.
2
Bacterial Takeover
Played for a decent amount and was actually more interesting that I thought, given the buttload of ad incentives. You create and upgrade bacteria, attack planets, and eventually go into a blackhole to prestige. Most of the game was good, but the part that killed it for me was the prestige system. Once you prestige, planets get super easy to attack, which becomes a lot of active play. I realized that each prestige was taking me at least 30 minutes to get to where I was, and it was just meaningless clicking. It got to a point where I was putting off prestige because it seemed like it would be a hassle so I stopped.
2
LogRogue
Cute graphics. The hero sort of hopping to hit the tiny monsters is cute to look at, but how long can you look at it and do nothing before you realize that it's boring? I suppose this is a game where it's just not for me. I don't like to have my phone open on a game and just watch it like a crazy person and do nothing. My rule is simple for incrementals. While the app is open, be active, if there isn't any choices to make, close the app while resources build up or whatever. I don't like it being open while I do nothing.
3
A Kittens Game
Incremental games are so strange. I get in and out of the phases. I loved this for so long and so obsessively that I wanted to only play incremental games. And then, just like that, I was wondering why the fuck I was wasting my time with this. Has happened countless times before.
But still probably the best incremental ever.
5
A Dark Room
An incremental cult classic of sorts but I don't find it really matches the genre. There is a bit of incremental at the beginning with people huts and stuff but then its just a ascii exploring game, which wasn't interesting to me.
2
Little Healer
Saw it mentioned in the Reddit incremental forum in one of the posts and thought it was a healer themed incremental which sounded neat. But it's like being a healer in a raid in World of Warcraft without any if the extras. Just a couple of bars representing your team mates and you healing them while they fight the boss. I didn't even like playing the healer in WoW so no way would I play this game.
1
Clickie Zoo
Started playing for a few days until I realized there a beta released with the dev reworking the game completely from scratch and releasing it as "Idle Zoo Tycoon". So, played that instead but this seemed like a game I would enjoy anyway.
4
Idling to Rule the Gods
The UI and one drawing if your character is really ugly enough to be distracting to me. The game, seemed interesting and I eventually was into it, but seems like a game that has been constantly being updated, which is not always a good thing, because features are obviously updated regularly to it, making the whole thing a bit bloaty.
I guess, this is the problem with this game for me, it's too fat. Also, one main part of the game is that your character creates Shadow Clones up to a maximum limit. Which is fine except the clones can't be made in offline mode. This might not be a big deal in its original web browser game but that doesn't work as well in a mobile format.
2
Realm Grinder
This is one of the really popular incremental and it's fanbase seems to love it for it's depth, but to be honest, I don't play these games for the depth, I play it for the simple dopamine rush of doing the same thing over and over again. It relaxes.
Although, I didn't even get to the depth part because I dislike games where it rushes in the beginning. I constantly bought buildings, got spells, and got upgrades without even looking at the description. Apparently, later on, we can get complicated race upgades, which seems not what I'm looking for in such a genre.
2
Spaceplan
A short (!!) incremental with an actual story (!!!). That's two cool points for it but unfortunately, the game mechanics of increment genre isn't so good. It's a space game with nice visuals and a great ending (cool music set to cool graphics) but the game itself wasn't really that fun. This same exact game would have been better in a different genre (maybe something like "Out There"?)
3
Zombidle
Felt like idle games again and this is the kind of examples that kept me away. Too much clicking and seems like advancement will start to get irritating since it relies on IAPs
2
Eggs, Inc
While I was playing it, Eggs, Inc was probably my favorite Android game I had ever played. But like most incremental games, there comes a moment when I suddenly stop and think, what am I doing?
Because there is something fascinating about Incrementals. Their addictiveness is in a way the whole point. An incremental is less of a game and more an act of electronic addictiveness. What's the point?
Eggs, Inc is a very well made and fun incremental but even the best in its genre is still pointless.
4
Castle Clicker
Supposedly a mix of incremental and city building but didn't really find out since the clickings were way to much. I know this is supposed to be the genre but I like the incremental part more than the tapping part. This seemed to be a good way to hurt your fingers.
2
Endless Era
This RPG clicker game is like other such games but with horrible GUI and animations. Tap tap tap. It's my fault for downloading such games. Why would I ever think this would be fun???
1
Idle Quote
An incremental game with a unique twist. This time we get to make up quotes! The first negative about the game and this irritates me a lot is most of the quotes are fake. A quick search on Google and this proves it. Quotes are generally attributed to Buddha or Ghandi or shit like that and it's usually fake like most quotes on the internet. This kills the major possible advantage of the game because I thought coming up with arbitrary words would at least give me some quotes to learn. Aside from the this, the game isn't fun either because it slows down very quickly meaning you combine words very slowly at a certain stage of the game and then it becomes a boring grind.
2
Monster Miser
An incremental game with almost no graphics. We just see character portraits of monsters which we buy and then upgrade until we buy the next monster. Eventually we prestige which gives us multipliers. The only game choice is choosing between two monsters with each new monster with unique benefits. Annoyingly there is a max limit which I wish didn't exist because I wanted to prestige so much that I would be over powerful in upgrading like that "Idle Oil Tycoon". Still, pointless but reasonably fun.
3
Pocket Politics
An incremental take on politics sounds fun but it's so generic that it could have been about anything. A Capitalist idle game or a cooking idle game, it wouldn't matter. IAP was also the usual shitty kind.
1
Time Clickers
A shooter incremental sounds like a cool twist but it's not a FPS like I imagined it would be. I'm just stuck in a room and I was shooting blocks. Upgrades didn't give me any enjoyment since I was shooting fucking blocks.
1
Tap Tap Fish - Abyssrium
I thought this was going to be relaxing incremental but the ridiculous and generic IAPs and all the social integeration spoil it. Too much time is spent in them asking you to buy or share or tweet or post or give them a blowjob. And there is nothing relaxing about that.
2
Cartoon 999
Incremental game about comic book writers, but not the marvel DC kind, it seemed to be the webcomic one and I think it's a Korean developer so all the characters and injokes made no sense to me. The whole thing was just targeted to a very specific audience.
2
Dungeon Manager
Incremental games need to be simple but this is beyond simple, it's just upgrade a fighter to level 5, go to next dungeon character, do the same, and just continue without any of the delicious balancing of upgrades like other idle games.
2
Final Fortress
Incremental games are already pointless but when it's super heavy on IAP than its also annoying, but when it always has bugs that doesn't register my offline earnings, then it just needs a uninstall in its face.
The zombie skin was also crappy.
1
Mana Maker
Here is how I know this clicker isn't very good. It doesn't make me hate all clickers and my life and mobile gaming in general for being so addictive and pointless.
So fail, sorry.
2
Infinity Dungeon
The usual incremental RPG that I should probably never play again. Starts simple enough and then gets more or a chore as you play.
1
Another incremental game which I had promised myself not to play anymore because they are so pointless and repetitive and endless. Well, this wasn't infinite and had a goal at 999 level so I thought it was good but while the humor was cute, the game did become very repetitive. Every 10 levels the slimes changed but after every 100 levels the whole thing restarted and while the monsters got stronger, I seemed to get even stronger. So the game became easier as I progressed and there was no more challenge. By level 800, I gave up.
2
Tap Dungeon RPG
Okay, I'm running out of ways to complain about those incremental RPG games that all have similar problems. It starts off reasonably fast and fun but soon it seems like I am in a data entry job. Doing the same thing over and over again with little changes.
1
Dungeon 999 F: Secret of Slime Dungeon
Another incremental game which I had promised myself not to play anymore because they are so pointless and repetitive and endless. Well, this wasn't infinite and had a goal at 999 level so I thought it was good but while the humor was cute, the game did become very repetitive. Every 10 levels the slimes changed but after every 100 levels the whole thing restarted and while the monsters got stronger, I seemed to get even stronger. So the game became easier as I progressed and there was no more challenge. By level 800, I gave up.
2
Tap Dungeon RPG
Okay, I'm running out of ways to complain about those incremental RPG games that all have similar problems. It starts off reasonably fast and fun but soon it seems like I am in a data entry job. Doing the same thing over and over again with little changes.
1
Tower of Hero
You start on the first floor of the tower and keep fighting your way up by summoning your heroes (by clicking) and recruiting other fighters, get upgrades, level up, and then, ugh, here is the typical incremental RPG part, restart, get items, and do it ALL over again.
There is something fun about restarting and getting slowly stronger each time but it also feels so pointless after a while. Such a pointless genre now that I have played a billion of such titles, heh.
3
Pageboy
Yet another incremental RPG which I have no idea why I downloaded because I'm sick of the genre. I played a pageboy to a knight who does the fighting while I collect the lot. I collect the loot, buy stuff for the knight, and eventually I restart to do the same thing again and get better items but this game I didn't even RESTART! Because fuck it! Fuck it!
2
Idle Warriors
The story is cute. Human population is regressing while monster population is on the rise. So the humans start enslaving monsters to mine for them! The brave warriors beat the crap out of monsters, kidnap the bosses, and enslave them. The animation of monsters slaving away while speech balloons above them talk about their wife and children is funny.
But the game itself is another RPG incremental which I should start staying away from. These games are like a chore for me nowadays because I'm doing the same crap again and again. The blame is probably on me because it seems like a reasonably solid game. But hey, fuck it, I PERSONALLY didn't enjoy it.
2
Tap! Tap! Faraway!
Any game that is remotely like Tap Titan scares me. They are addictive at first and very fast moving but after every restart gets more and more annoying. It soon turns into a time eating activity with the player having to redo the initial levels to get relics to get better items to progress further to restart to get relics to and so on until the player realizes how much time he is putting in the game for a repetitive activity.
2
Auto RPG
Now that is a title the game developers didn't spend too much time on. RPG battles are automatic but I can help out by clicking like a mad man. I started with one hero but would get additional members in my party as the story progressed. Party members receive skills as as they level up and while all the skill usage is automatic, it did give me a sense of progression which is extremely important in a RPG and which I think is usually lacking in incremental games. It usually starts feeling useless but in this game at least there are new maps, new members, and an actual end sight!
There is an infinity stage once the last boss is defeated but I am glad the infinity stage happens AFTER the end and it's not the game itself.
4
Merchant
Hire a hero and send on to battle. The battles is done automatically and takes time, starts with something short like 10 seconds with each battle taking longer. The loot is raw materials which can be used to craft equipment which also takes real life time with better items taking longer. The crafted items can either be sold or equipped to the hero to make him be able to fight stronger monsters.
I was worried I would hate the longer crafting and fighting times because I hate games which I have to watch for a task to finish but even though the durations for longer, I had more to do. However, I don't know what would have happened in the end game because I gave up on it. New maps were exactly like the first map just with different heroes but the progression was similar in each level which felt that I was doing the exact same thing all over again but with longer task times.
2
Idle Oil Tycoon
This is the best idle game I played. It's graphics aren't just minor, they are none existent. It's just numbers, so basic that my sister thought I was on a stock market app.
It's such a simple concept. Invest, get oil, upgrade then like other idlers restart to get a bonus and do the full thing all over again. When I finished the game, I played the unlimited mode which I played until the unlimited mode couldn't handle the numbers anymore.
5
Soda Dungeon
This kind-of Idle Dungeon was great. I started with weak ass fighters who would fight on my behalf while I collected the loot. I then got to use the lot to upgrade the sofa bar to recruit more adventurers. Not sure why it was a sofa bar. Maybe they wanted to make it a family game and not have alcohol? Sounds weird but the sofa element in a RPG game sounds weirder.
The game only hit a brick for me when, like most other incremental games, there is no real closure. Once I thought I bet the big bad guy, it just goes on, harder but similar enough with no end in sight. Eventually, we have to stop playing right, but it always feels a bit like a let down when I don't feel like I have finished the game.
4
10 Billion Wives Kept Man Life
The two games from this company, 10 Billion Wives and Kept Man Life, have similar strengths and weaknesses.
I liked the silly premises from both. In 10BM, I had to get married as much as I could, using the loves I collect to marry more expensive wives! In KML, I'm a boyfriend who doesn't work and I have to please my career gf so she would take care of me.
Both start reasonably fast and I was willing to grind through difficult parts but the end game is like a brick wall. Passing through it to get all the achievements is pretty much impossible unless one puts in way too many hours. And it's a shame because I really wanted to get all the achievements to see all the tiny little extra stuff.
3
Adventure Capitalist
One of the better incremental games, but now that I am out of the short lived incremental fan phase, I realized how dumb the genre is. Tap, tap, tap, upgrade, do this a million times, reset, and do it all over again like a moron. The game does deserve credits for me acting like a moron and playing it for so long but I also cheated and got free cash and then if occupying became even more pointless.
3
The Monolith
A combination of an incremental and a civilization building game seemed like an excellent idea and in some ways, it was, specially how we get to upgrade through the ages from cavemen to futuristic. But no offline feature means that the resets aren't enticing.
2
USSR Simulator
An incremental game that has a great theme (USSR!) but absolutely horrible to enjoy, even though I did stick to it. After a certain upgrades, the game just turned into me popping in the game, clicking an upgrade and then forgetting about the game for a few days.
2
RPG Clicker
They should call these games tappers not clickers. We are not clicking anything on a touchscreen device. Anyway, tap tap tap level up buy weapons tap tap and uninstall.
1
Logging Quest Logging Quest 2
[Review is for the original and its sequel]
There is not much of a difference between the game. I actually played them both at the same time because the actual game is offline. You choose your hero, send them to a dungeon, and then come back to the game after a while to see how well they did. I thought an offline RPG like this might be interesting but then, if you don't really play a game, how much fun can it be?
1
Another pointless incremental. I was in an incremental phase and got so many incremental games that I know realize were absolutely pointless.
Hit a tree, buy upgrades, get a new hero, and continue hitting a tree. Not much offline it seems which is what I like about incrementals.
1
Galaxy Clicker
A space incremental that should have been a lot of fun. You get to upgrade your spaceship and buy new ones and explorer new planets. But first of all, the interface is so ugly that it makes playing the game less enjoyable. And a lot of things I didn't really get no matter how much I would play like the full exploring planets. The spaceships were nice, so it could have been fun.
2
Megatramp
A pretty pointless incremental kind of game. You are a tramp and then you can collect money to buy upgrades to make more money, with no strategy needed, nor any effort needs to be made to hurt your brain cells.
1
Inflation RPG
It supposed to be some kind of incremental RPG, I think, which has you resetting and getting more powerful and then fighting monsters to get insane levels. It is very unique but I couldn't get into it.
2
Widget RPG
Are you fucking with me? This is button bashing rpg in the most extreme manner. You get a widget, so you don't even have to open the game and distract yourself from the button bushing. Just click the button and the game plays behind the scenes and gets you experience, loot, and kills.
It's a ridiculous idea that is fun for a few minutes to see what they come up with but there is only so much button bashing you can do.
2
Capitalist Tycoon
I downloaded this game because I was in an incremental/idle game phase and really enjoyed AdVenture Capitalist. But this game is nothing like that. On the surface, it seems similar, buy small investments, make money, buy bigger investments, and so on.
But with this game, there is no offline mode, and you keep having to wake up managers, AND the goal is to see how much you make in one year. Bah. I prefer the incremental approach which makes you build and build and build, not try to rush it in just a year.
2
Clicking Bad
An incremental clicking game that is themed after Breaking Bad. It is a fun idea it's a very simple game with little to do aside from the obvious of upgrading and upgrading. The only twist might be to balance out making lots of money selling drugs and not attracting the law but even that is only a small challenge at the start. Eventually, you will get enough upgrades to bring the law risk so down that it makes no impact on the game play.
2
Zombie Tapper
A super basic incremental clicker game with a zombie team. Click click click to eat brains, use brains (?) to buy zombies to do the brain eating for you and then buy upgrades for your zombies, and buy new zombies and it all feels very pointless.
1
Bitcoin Billionaire
I started to enjoy incremental games, but it needs to have a good offline mode, because I don’t want to just play a game where I keep tapping. But that doesn’t mean I didn’t play. I played it, and I played a lot of it, because I could reset the game (like most incremental games) and it gives you a small benefit where you could finish the full game a bit faster (it gives you bonus income). So, I kept finishing and resetting, and each time the start to finish would shorten, so I thought I would reach a stage where I could finish each start-to-finish in an instant! It didn’t happen. I got bored first.
3
Tap Titan
An addictive tapping game. Just tap on the creatures, level up, get new skills, hire heroes, and then reset and to it all over again to progress further. It’s an incremental game where it depends on resets to progress, but no real offline bonus, so you have to be playing online. Which got boring, so I installed an app that does the tapping for me, which is actually a stupid way to play the game, but this isn’t an attempt to prove to anyone my intelligence. Anyway, thankfully something went wrong and my progress got deleted, WHICH WAS A GOOD THING, because the game was extremely addictive.
4
God Squad
I’ve realized most incremental games are stupid. Tap on monsters to kill, collect gold, buy Roman Gods, level them up, fight other monsters, and then get bored.
1
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I bought $1k of the Top 10 Cryptos on January 1st, 2019 (Sept Update)

I bought $1k of the Top 10 Cryptos on January 1st, 2019 (Sept Update)

EXPERIMENT - Tracking Top 10 Cryptos of 2019 - Month Nine - UP +54%
See the full blog post with all the tables here.
tl;dr
  • I like moons, I like music. I also like burying musical references in crypto reports. First one to name the two musical references gets some moons.
  • Remember the panic in early Sept? Despite a tough month, the 2019 Top Ten are +54% and still well ahead of the stock market.
  • What's this all about? I purchased $100 of each of Top Ten Cryptos in Jan. 2019, haven't sold or traded. Did the same in 2018 and 2020. Learn more about the history and rules of the Experiments here.
  • September - all cryptos in the red, so I guess Tether wins the month.
  • Overall since Jan. 2019 - ETH loses lead to BTC which is +189%. Only 2 out of the Top Ten in negative territory.
  • Combining all three three years, Top Ten cryptos underperforming S&P if I'd taken a similar approach.

Month Twenty One – UP 54%

2019 Top Ten Summary for September
Although crypto recovered a bit from an early September dive, the 2019 Top Ten Portfolio ended the month completely in the red, similar to what we saw in June. Litecoin dropped out of the Top Ten this month, the first time since these Experiments began.

Question of the month:

In September, Tether moved 1 billion USDT coins from TRON to this blockchain:

A) Ethereum B) Neo C) Polkadot D) EOS
Scroll down for the answer.

Ranking and September Winners and Losers

2019 Top Ten Ranking
Here come the new coins: with the exception of BCH (up one place from #6 to #5) every crypto either remained in place or dropped. BSV, down one place, EOS and Tron down two, and Stellar fell three. Litecoin dropped a massive five places to land itself outside of the Top Ten, the first time since I began the Experiments back in January 2018.
Due to Litecoin’s expulsion from the Top Ten, 40% of the crypotos have dropped out of the Top Ten since January 1st, 2019: Tron, Stellar, Litecoin and EOS have been replaced by BNB, DOT, ADA, and LINK.
September Winners – With all cryptos in the red, stablecoin Tether outperformed the rest. BTC finished second, down -8% in September, followed by BSV, down -10%.
September LosersLTC had a truly horrible month, losing nearly a quarter of its value (-24%), falling five places in the ranking, and falling out of the Top Ten. Close behind was Stellar and ETH, down -23% and -22%.
For overly competitive nerds, here is a tally of which coins have the most monthly wins and losses during the first 21 months of the 2019 Top Ten Experiment:
2019 Ws and Ls
Depressingly, Tether is still far ahead with seven monthly victories, more than twice as much as second place BSV and ETH. And although BSV is up 87% since January 2019, it dominates the monthly loss count: it has now finished last in eight out of twenty-one months.
Swing trade anyone?
And XRP is still the only crypto that has yet to notch a win.

Overall update – BTC takes lead from ETH. Stellar now worst performing since Jan. 1st, 2019

After briefly pulling ahead of BTC last month, ETH gave up its overall lead in September. The top two are up +189% and +169% respectively followed distantly by BSV, up +87% since January 2019. The initial $100 investment in BTC is currently worth $295.
Twenty-one months into the 2019 Top Ten Index Fund Experiment, 80% of the 2019 Top Ten cryptos are either flat or in the green. The other two cryptos are well in negative territory: last place Stellar (-33%) and second to last place XRP (-32%) have each lost about one third of their value since January 2019).
At +54%, the 2019 Top Ten Portfolio is just behind the 2020 Top Ten Portfolio’s +56% gain and both are far, far ahead of the 2018 group (much more on that below).

Total Market Cap for the entire cryptocurrency sector:

Monthly total market cap, since Jan 2019
Since January 2019, the total market cap for crypto is up +176%. The overall market fell around $35B in September, ending the month around $351B. Despite the tough month, this is the second highest month-end level since the 2019 Top Ten Experiment started 21 months ago.

Bitcoin dominance:

BitDom ticked up slightly this month, but is trending lower than the last year or so, where it had remained in the mid-60s%. As always, a low BitDom signals a greater appetite for altcoins. Zooming out, the BitDom range since the beginning of the experiment in January 2019 has been between 50%-70%.

Overall return on investment since January 1st, 2019:

The 2019 Top Ten Portfolio lost nearly $300 in September. After the initial $1000 investment, the 2019 Top Ten Crypto Portfolio is worth $1,538. That’s up about +54%.
Here’s a look at the ROI over the life of the first 21 months of the 2019 Top Ten Index Fund experiment, month by month:
Monthly ROI on Top Ten since Jan 2019
Unlike the completely red table you’ll see in the 2018 Top Ten Experiment, the 2019 crypto table is almost all green. The first month was the lowest point (-9%), and the highest point (+114%) was May 2019.
At +54%, the 2019 Top Ten Portfolio is now the second best performing out of the three but just barely (the 2020 Top Ten is up +56%).
Speaking of the other Experiments, let’s take a look at how the 2019 Top Ten Index Fund Portfolio compare to the parallel projects:
Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,340‬ ($238+ $1,538 +$1,564).
That’s up about +11% for the three combined portfolios, compared to +31% last month.
Lost in the numbers? Here’s a table to help visualize the progress of the combined portfolios:
Combined ROI on $3k over 3 years - UP +11%
To sum up: 11% gain by dropping $1k once a year on whichever cryptos happened to be in the Top Ten on January 1st, 2018, 2019, and 2020.
But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, only five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (Litecoin, no pressure, but if you’re not back in the Top Ten in the next few months, you’re out of the club). Let’s take a look at those five:

ETH leading the three year club
Ethereum (+104%) would have returned the most at this point, followed by BTC (+77%). On the other hand, following this approach with XRP, I would have been down -31%.
Alright, that’s crypto. How does crypto compare to the stock market?

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiments to have a comparison point with traditional markets. Although the S&P fell from an all time high the month before, it is up +35% since January 2019.
The initial $1k investment I put into crypto 21 months ago would be worth $1,350 had it been redirected to the S&P 500 in January 2019. +35%, not bad at all. But the 2019 Top Ten Portfolio is up +54% over the same time period.
That’s 2019. But what if I took the same world’s-slowest-dollar-cost-averaging $1,000-per-year-on-January-1st crypto approach with the S&P 500? It would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1260 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1350 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1050 today
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660.
That is up +22% since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios.
As you can see in the table below, that’s a 11% swing in favor of the S&P 500. September breaks a two month mini-streak of wins from the Top Ten crypto portfolios.
S&P takes the lead in Sept.

Conclusion:

After a strong August, both the stock and crypto markets fell in September. In a year that feels neverending, a lot can and will happen in the remaining months of 2020.
Be safe and take care of each other out there.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2020 Top Ten Experiment.

And the Answer is…

A) Ethereum
In September, Tether moved 1 billion additional USDT coins (7% of its total supply) from TRON to the Ethereum blockchain.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

BTC reserves in publicly traded companies up by 25% in less than two weeks

https://bitcointreasuries.org/ shows close to two dozen firms with a large number of bitcoin reserves. Currently, the aggregate total bitcoin held in reserves by the 23 companies listed is roughly 785,999 BTC worth well over $10 bill dollars.
It is close to 4% of the supply, but the growth is what's more impressive here - there were only 13 companies listed with a combined total of 598,237 BTC ($7.6B) or 2.85% of the total supply on Oct 10. Of course, the benchmark isn't that high to begin with, but it clearly shows we have some real dynamics here.
submitted by robis87 to CryptoCurrency [link] [comments]

Realistically - What happens when the Nano Developer Fund runs out?

I'm a very big fan of this project and think Nano is truly the best decentralized coin for payments. Nano is everything Bitcoin should have been - free, instant P2P payments. Every time I use it I am amazed by how fast the transactions are and how they are fully confirmed after ~3 seconds.
This project already has "the tech", but the X-Factoelephant in the room is the dev fund. For whatever reason, the devs of this project seem to require a massive amount of Nano ($) in order to keep the project going. In addition, even with all the funds that are being cashed out monthly (~$40,000-$50,000/month), this project engages in very little marketing (and if the team does engage in marketing, it's not very effective, as many community members have noted). From an investment perspective, I think many people are concerned about the longevity of this project.
The main questions here are:
I love Nano and want to see it succeed. I just hope funding isn't the downfall of this project.
submitted by Tmfallon to nanocurrency [link] [comments]

Tax question about lack of record-keeping of very early coins.

Here is my situation if anyone can offer advice, even advice about where to ask for advice.
I bought and transacted a small amount of bitcoins starting in 2011. Back then the community was very different and I have kept no records of those years and don't have the exact wallet files or addresses anymore.
In 2012 through stupidity I lost my passwords to everything. I've lived a poomodest life for 8 years.
Fast foward to today, I've recently found and cracked one old wallet with "$300" worth... over $5 million.
I don't mind to pay tax on it, I'm resigned to giving up half, but what I'm worried about is if they ask where I got the money from and I can't explain or prove it because it's over 9 years ago, what are the risks that gov would take ALL of it?
Most of my earliest coins where bought by privately trading with people who took my "Liberty Reserve" dollars - a service that doesn't exist anymore, and the coins put in mybitcoin.com or mtgox.com, two more services that don't exist anymore.
In turn, it's so long ago that I don't have records or even remember how my Liberty Reserve accounts were funded in the first place.
What would you do? Or what experts specifically would you try to contact about it? Not to evade tax and keep all of it, but just to ensure I get it through the right process to keep half of it?
submitted by rand502 to BitcoinAUS [link] [comments]

At this point, the chances of Bitcoin dying are next to impossible

The worst that could happen to Bitcoin was that it would become some obscure decentralized internet network with no real value. But at this point in the game, it's too big to shrink away into infamy. Wall Street is buying, hospitals are starting to accept it, banks are accepting it, stores are accepting it, PEOPLE are accepting it. It's too far adopted at this point for the dominos of adoption to stop falling. We're on a path that leans in an overwhelming direction towards Bitcoin's continued growth and adoption in this world. It was always a Binary equation when it started, and at this point, it's only got 1 way to go. Do you think Grayscale's clients who own the over 450 thousand Bitcoins are going to want to let them go? MicroStrategy who bought over 250 million dollars worth of Bitcoin as it's primary treasury financial reserve asset? Any of these guys who are, and will adopt in at the pro level of the financial world? We're at the brink of another parabolic run, and even if Bitcoin repeats history and 1000% jumps, then dumps 80%, do you think these guys would sell? Even after the drop, they'll still be over 200% on whatever they owned pre ATH(All-Time High Price). AKA, 20k$.

These guys are going to see what we all saw after our first parabolic runs. They're going to see what happened, look at the history, and see that it does this every halving, realizing as we all did once, what Bitcoin truly is, and where it is headed. And these are hodlers who are already experienced in holding over 10 years, 20 years, 50 years, 100+F'ing years. These are the same institutional buyers pumping the stock market right now despite this pandemic. Once they get a taste of Bitcoin, they won't stop doing everything they can to get more. The volatility will slow down, the growth will become more consistent, boring, and predictable even, just as the stock market is today. But the math holds true; once these guys are fully adopted, and all the adoption dominoes have fallen; Bitcoin will be over 10 million per coin. By then, growth will probably be as boring and predictable as the stock market. The math will dignify it to still grow faster than the stock market does today, but boring, with no massive price swings as we see today; where you can buy Bitcoin at a 50% discount just 1 day, or 1 week later. By then, most companies will probably have already converted their stocks into their own cryptocurrencies of sorts. It's the only logical next step; cuts out the stockbroker middlemen, just like Bitcoin cuts out the banks. But, regardless of all that stuff that is likely to come with this path that we're on now, the one thing I know for most certain is, before this next run happens, you'll want to get in. Like now. Before this next run even starts pricing over 20k$. Because, after this whole next run up and drop is said and done, you'll be lucky if we ever see a 20k$ Bitcoin again. The best chances will be a drop to 30k$ if we break just over 100k$, or 70k$ if we break just over 300k$. That's if we even get the 80% drop that history has shown this time around, now with these old school investors joining the game before the parabolic run up even starts.

Buy now, before we break 20k$. Hell, keep buying whenever you can until we hit 20k again. I can guarantee you; after 8 years of buying through these markets, there is no better time to buy than right before the start of a parabolic run. Sure, you'll wish you'd have bought when it was at an all-time low price period, but then, you'd have to wait potentially up to 4 years for the next parabolic run to start after a halving, in order to experience any of the crazy historical price run action you've heard so much about. Buying 6 months after a halving like now; puts you on the financial rocket ship that is Bitcoin, right before takeoff, making you able to experience the ride that has made thousands of people addicts to this decentralized network over the last 10 years. IN the next 10 years, it will be millions of addicts; in the next 30, it will be billions. And the price, well the price will be numbers we think today as impossible. Because if you think 10 million is where this bad boy is stopping, then you really don't understand what will happen when the owners of quadrillions in value, become addicted to a decentralized network that's capped out at 21 million coins, and those owners of those quadrillions in value begin to move their asset holdings into Bitcoin; in order to feed their addiction to this decentralized network that many of us have grown to know. Once they know what Bitcoin is, and they have experienced the supply shock that Bitcoin's halvings have on it's value, then they'll begin to move their assets into Bitcoin's network like a crackhead selling their mom's TV just to score an ounce of meth after experiencing its financial ride. Buy every chance you can, every paycheck; hop on this boat before it's too late and you miss another opportunity of insane ROI. Don't get me wrong, even in buying in on the next cycle, you'll still be exponentially profitable if you hold for the long run. But every time we have a parabolic run, that exponential potential becomes less and less. Although exponential none the less. The 10k$ dollars per Bitcoin range will be looked at in 30 years, just like we look at the days of Bitcoin being worth less than a penny per Bitcoin today. Hell, 10 years from now will be looking at a 10k$ per Bitcoin price range like we look at buying Bitcoin at 20$ a coin today.
submitted by PositiveResonanceSng to Bitcoin [link] [comments]

Need help starting.

So I've recently started gaining an interest in bitcoin. I've decided I would like to purchase 150$ in bitcoin. I've downloaded coinbase and everything, but before I deposit any money, I first need a plan of action.
As it stands, I have no knowledge regarding trading or investing, my plan is to buy when the market is low, and then sell when it is high. I want to keep selling and buying bitcoin until I reach 1 bitcoin (if it's even possible to do it this way)
So my question for the community is: What wallet do I use, where should I buy and sell bitcoin? Is it even worth to save bitcoin with only 150 bucks? I heard somewhere online that someone (I know, I'm being very vague, but go with me here) expects that the price could easily reach 500 000 US dollars per bitcoin in 2040... I would like to be a part of that huge number
Please help, any advice is appreciated. Thanks Reddit
submitted by Just_a_bit_of_love to BitcoinBeginners [link] [comments]

MicroStrategy's $425M BTC investment thesis - "buy something that can either get cut in half or 10x"

Amidst all of the DeFi volatility, drama and excitement, Bitcoin has started to seem rather boring. Its price is more or less flat to where it was a year ago and you can’t even farm Yams with it.
While some have started to view Bitcoin as a useless digital rock, someone did find an interesting use case for it. This week, more details surfaced around how MicroStrategy CEO Michael Saylor convinced the board of a publicly traded company to allocate nearly all of the company’s $500M cash position to bitcoin.
Michael Saylor
Saylor graduated from MIT in 1987 and founded Microstrategy at the age of 24. MicroStrategy is a “Business Intelligence” company, which basically creates software that allows companies to use their own data to drive decision making.
Interesting side note - Saylor, like any good 90’s internet entrepreneur, also bought a bunch of internet domains and was the guy who ultimately sold Voice.com to Block.One (EOS) for $30M.
MicroStrategy’s’ $500M Problem
To most people, having $500 million in cash doesn’t sound like a problem. Up until recently, it wasn’t for large corporations either. There was a time before the ‘08 financial crisis when the risk free rate of return on cash was 5% a year. This means a company could sit on $500M, earn $25M a year for doing nothing, and have cash on hand for a rainy day.
Fast forward to today, when the risk free rate of return has plummeted to 0.69% due to loose fiscal policies (money printer go BRRRR) alongside inflating asset prices, and it’s a different story. In Saylor’s own words, “we just had the awful realization that we were sitting on top of a $500 million ice cube that’s melting.”
Cash is Trash
So what’s a corporation to do with a $500M melting ice cube? It turns out it’s not that easy to unload half a billion dollars in a short amount of time.
You could buy back half a billion of your own company’s shares. For a company like MSTR, Saylor estimated that would take 4 years. Time MiscroStrategy didn’t have.
You could buy real estate. However, commercial real estate prices have collapsed post COVID while property owners still believe their assets are worth what they were in January. In other words, good luck getting a fair market price.
You could buy blue chip equities. Amazon, Apple, Google, Facebook. However, your risk is symmetric. They can each fall 50% just as easily as they can go up 50%.
That left Saylor with silver, gold, Bitcoin, and other alternative assets. A move the company announced it was exploring on a July earnings call.
A Bold Purchase
Saylor ultimately wanted something that could either get cut in half, or go up by a factor of 10. An investment akin to what buying Amazon or Apple in 2012 was. In other words, asymmetric risk.
As a student of technological history, Saylor observed that the winning strategy over the last ten years has been to find some kind of “digitally dominant network” that dematerializes something fundamental to society. Apple dematerialized mobile communications. Amazon dematerialized commerce. Google dematerialized the process of gathering information.
Something Saylor noted was common to all recent 10X opportunities is buying when they’ve achieved $100B+ marketcaps and are ten times the size of their next biggest competitor. As Bitcoin is the dominant digital network dematerializing money that’s 10x the size of any cryptocurrency competing to be a store-of-value (not counting ETH here), it fit the bill.
Making the purchase
With the thesis in place, the next thing Saylor had to do was get everyone at MicroStrategy to sign-off on the unorthodox decision. To do this, he simply made everyone go down the same Bitcoin rabbithole that most people in the industry have gone down.
He made everyone at the company watch Andreas Antonopoulous videos, read The Bitcoin Standard, watch Eric Vorhees debate Peter Schiff and listen to Pomp and NLW podcasts. With no strong detractors, MicroStrategy turned to execution. They first put $250M to work purchasing 21,454 BTC in August and another $175M (16,796 BTC) in September for a total $425M and 38,250 BTC.
What’s fascinating is that MicroStrategy was able to open such a large position without really moving the market or anyone even taking notice. This speaks to just how liquid of an asset BTC has become. To acquire the September tranche of BTC, Saylor disclosed that they traded continuously for 74 hours, executing 88,617 trades of .19 BTC every 3 seconds.
One for the history books
Skeptics noted that shares of MSTR have been on the downtrend since 2013, as the real reason behind MicroStrategy’s bold move. Regardless, the move has interesting implications for the company’s shareholders. As TBI observed, MicroStrategy is now both a software company and with ⅓ of its marketcap in Bitcoin, a pseudo Bitcoin ETF. At the time of writing, MSTR is up 20% on the week.
Only time will tell if history looks back on this move as a brilliant strategic decision or a massive corporate blunder. In the short term, it scores a massive win for Bitcoin’s digital gold investment thesis.
Billionaire hedge fund manager Paul Tudor Jones is in. A publicly traded corporation has made Bitcoin it’s primary treasury asset. As CFOs and fund managers around the world undoubtedly take notice, one has to wonder, who’s next?
PS - I based a lot of this article on Pomp’s interview with Michael Saylor, which I recommend giving a listen.
Original article
Source
submitted by CryptigoVespucci to Bitcoin [link] [comments]

I put all my savings into ETH at $16 in 2017

From rags to riches and back to rags.
I became aware of Bitcoin in 2012, but didn't invest until 2014 @ $440. A few years prior, it had hit $1k, dropped, and much of the public lost interest except for users of Silk Road. I sold all my BTC once it hit $1k for the second time.
The more I read about ETH, the more I was convinced that this shit was wild. I didn't get it at first, but given my background (product engineering) I started to recognize use cases that Ethereum could take on: Debt vehicles owned by communities (rather than..JP Morgan). Music platforms owned by users. Ethereum is/was a software engineer's economic API. Prior to Ethereum, we could write apps that fit into real-world government/economies, but now, we could write entire governments and economies -- and we all know the economy is mankind's most influential behavioral system.
Once that clicked, I put all my money into Ethereum. I told my friends and family to invest a bit too. I bought some in February of 2017 and continued to buy until my ether chest became my savings. Once ETH breached $100, I was extremely confident that the world was seeing Ethereum for what I saw (an economic/government-building toolset) -- wow was I wrong.
ETH grew and grew, as we all know, topping out around ~$1400. I vividly remember waking up one morning, checking how much $ my investment was worth -- almost a half million. "I'll sell some once my stake reaches $500k," I said to myself idiotically. The prior night, I had gotten into a debate with a friend (who also invested) who had doubts about how long the asset would increase. I argued that the utility of Ethereum had barely hit the market, he argued that had nothing to do with the rise -- he was right. The rise of price was fueled by people telling friends/family 'I JUST MADE THIS MUCH MONEY YOU HAVE TO INVEST!!!', and had absolutely nothing to do with Ethereum's true value to society.
My friend sold all of his investment around this time. I did not. I watched my investment dwindle from some ~$450k to just a few thousand. During this time, I was funding my business, so I would sell my ETH slowly as the price dropped. My stack of crypto is almost nothing today, but one thing I took away was the value of money.
When my stack had reached nearly half a million, I felt the same as I do today. I felt the same as I did before I earned the money. Nothing in my life changed -- my happiness was exactly the same, except for the fact that I didn't have any stress around money. What made me happy was using my money for good causes - I donated a decent amount to ocean relief funds and used my money to build a business which made people happy via convenience.
I'm sharing this because I don't know how many other people have made half a million dollars in under a year (after being broke), then lost it all, but I'm sure it's not common. This experience taught me the value of money and its limits to happiness contributions. That said -- when you're under the poverty line, the personal value of money is way higher. It's like a maslow's hierarchy of needs situation -- once you've satisfied your basic financial needs, your increase in happiness is fueled by further endeavors outside of 'earning money'.
submitted by MycologistMan to ethtrader [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
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submitted by BitcoinFan7 to Bitcoin [link] [comments]

My 10 year plan

Just thought I'd lay out my 10 year plan, maybe the ideas may interest somebody. I will be 40 (ish) years old - actually aiming for a kind of semi-retirement.

Property for holiday lets:
I have one small property with an older relative living in it who just covers the mortgage and will do until that mortgage is paid off (18 years). That's a super long-term investment and I kind of see that as an inheritance (as I won't be getting actual inheritance from parents). Property worth approx £160k currently.
I have one property which is let out as a holiday cottage. After all expenses, including the management, of it I am averaging £1000 profit per month, I don't really put in any time into the running of this.
The plan is to get at least another 2 holiday lets which will hopefully bring in similar profit. This could be a very easy semi-retirement gig managing these. I found a property nearby recently for £600k which was a large house with 5 small one-bedroom holiday apartments attached - this would be perfect! I would have cleaners working them, maybe a management firm running it.

Cryptocurrency: (dollar cost averaging)
Bitcoin - The most decentralised and adopted crypto, it looks like it's won the race.
Monero - massively undervalued privacy coin, it's pretty much the only coin currently used on dark web markets (good indicator for future adoption).
Ethereum - Bit of a gamble, but looks promising. On release of ETH 2.0 they will offer a 6% annual interest on your holdings if you 'stake' it.
I honestly believe the cryptocurrency market could increase X 50 in the next 10 years, it is a hedge against all the money printing which is going on. IF it goes 50X then my holdings should buy me the previously mentioned house with holiday lets.

Stocks/commodities etc: (dollar cost averaging)
I hold some Gold ETFs, but am currently sat out of stocks. Gold is a good hedge investment. I plan to DCA into a REIT (real estate investment trust which often give 8-12% returns)).

Pensions:
I may have some measly amount in a military pension (9 years service) - probably £50 per month by the time I reach it (67 years old). I'm not wasting my time with pensions, the state pension is a giant ponzi scheme as far as I'm concerned and I don't trust other people enough with my money to play with it in a private pension pot. I've literally just joined this group and have noticed it's pension heavy so maybe I'll be swayed a bit.

Just to give an idea of roughly what I can dollar cost average - I can save approx £2k per month at the moment (work abroad). I'll keep a bit of cash but will mostly be DCA'ing into crypto, gold and a REIT. Cash is only going to be worth less and less each year!

So not to waste money:
  1. Won't have flashy car - something cheap and works
  2. Buy all my furnishings etc second hand (gumtree/marketplace) No shopping in Next or Ikea
  3. No takeaways, limit meals out
  4. Pay off credit cards every month
  5. Don't have kids, don't get married
  6. All the obvious smart money management.

Hopefully I will be able to sit back in 10 years with some holiday lets under the belt bringing in a few quid and I can spend the winters somewhere sunny.
submitted by biggybiggybiggybiggy to FIREUK [link] [comments]

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