![best bitcoin wallet reddit 2020 best bitcoin wallet reddit 2020](https://blogescrow.counos.com/wp-content/uploads/2021/01/cryptocurrency-wallet.jpg)
My $100 Dogecoin investment also tanked alongside Bitcoin after derogatory comments from Elon Musk on SNL went viral. Dogecoin To the moon or the floor? Only time and Elon Musk’s Tweets will tell!
Best bitcoin wallet reddit 2020 cracked#
Shortly after I bought in, Elon Musk announced Tesla would no longer accept Bitcoin as payment (citing the environmental impact of mining), cracked some quips on a talk show (and China cracked down on Bitcoin mining), and now my investment is worth less than half what I put in ($180). I bought $500 of Bitcoin on CoinSpot on the 11th of May thinking “here’s a safe bet.” It turned out to be one of my worst performers.
Best bitcoin wallet reddit 2020 how to#
Results Bitcoin How to turn $500 into $180 in just three short weeks! Though I intended to put $100 into each coin I soon found myself believing I could pick the eyes out of the market, and began throwing a little more at some, and a little less at others. Much like the rest of the world, I allowed greed to overtake me. In the interests of sociological accuracy, I did not keep my experiment scientific. The experiment was simple: I took $1,000 and put it into a mix of random speculative cryptocurrencies, as well as a couple of well-known ones, and observed the impacts (on both my bank balance and emotional state) of joining these new online cults. I don’t advise you to take on the world of shit coins (as part of my experiment comprised), but if you do, at least learn from my errors. So consider this a public service announcement.Īnyway: with the disclaimer that this is not financial advice, and that if you want to actually keep your money you are much better off intelligently investing in property, ETFs or a well-rounded stock portfolio… here’s the story of how I spent $1,000 trying to take on the world of cryptocurrency degenerates – and your guide in what NOT to do with your hard-earned cash. If I’m dumb enough to get sucked in I’m probably not the only one. To do this, I split my money between stalwarts Bitcoin and Ethereum, as well as a bunch of highly speculative joke coins, group-think schemes and newcomers like Dogecoin, Shiba Inu, Safemoon, Revain, Astro Pup and AC Milan Fan Token.īefore you throw your Australian Financial Review at my head and accuse me of giving scammers the hype they crave… hear me out. RELATED: Australia’s Liberal Stance On Crypto Currency Puts America To Shame Though many in the world of traditional finance are giving the crypto sector a wide berth for fear of giving it legitimacy, I thought I would dip a toe into the waters and attempt to provide a non-judgemental, non-patronising (but also, hopefully, a non-shill) take on what it’s like to invest in crypto currency in 2021 as a complete rookie. Right? So on May the 11th, I bought $1,000 worth of various cryptocurrencies, for the sake of journalism… After all: if there are two things you can count on in life, it’s human greed and stupidity. It was in this environment that I decided to cash in on the hype. A $1,000 bitcoin purchase would be worth $1,953.88 as of Wednesday, while ether would be worth $4,686.58.” “That’s significantly more than other cryptocurrencies like bitcoin and ether, which grew 95% and 369% over the same time period, respectively. 1, 2021 – at a price of less than a cent per coin – would be worth $121,052 at Wednesday’s high of 69 cents, a gain of more than 12,000%.” In any case, the sector is booming in the public imagination, fuelled by success stories, and the fact that no one hears about the other thousands of people who lost money.Īs CNBC reported in May, “A $1,000 dogecoin purchase on Jan. The cynics would say it’s all cupboard love, the proponents would say there is a real sense of community – a real bonding over a common disenfranchisement with the traditional finance system – even if everyone involved is aware there is no true value to the coin they are buying, beyond the hype.
![best bitcoin wallet reddit 2020 best bitcoin wallet reddit 2020](https://hard-money.net/wp-content/uploads/2020/12/BitCondom.jpg)
The problem? One never knows how much of this is real friendship, and how much of it is purely designed to manipulate vulnerable, lonely people into trading their money for hot air. This has happened as online communities straddle murky waters, where genuine friendships appear to be built between users with a common goal of getting rich quick.