The Passive Income Experiment: #1 Bitcoin and Crypto

in #cryptocurrency7 years ago

$500.

After weeks of internal debate, this is the amount I landed on to invest in Cryptocurrency.
A small fish in a digital sea? For sure!
But for me - $500 is 10 full tanks of petrol in my little car,
or almost 3 months of groceries - on a table set for 1.

That sounds like a lot of sad dinners alone, please explain?

There are two reasons I have decided to part with the equivalent of 166 bags of mini musk sticks from Kmart;

a. Knowledge +1
b. Fear -1

Years are marching by on me; refusing to stick at my pace as I puff, out-of-breath, 'slow down'!
I don't want to become my parents.. with tiny toddlers rolling their eyes as they show me what a 'facebook' is, and how to save a Word document ... and how to clear my browsing data from my new virtual reality holiday experience pod.

A large segment of older population isn't investing in block-chain and other new technology, the reason?;

  • I don't understand it
  • I don't have time to learn about it
  • I'm weary of change, and of the unknown*

*(I'm inferring this last point - but everyone is thinking it when we see old politicians speak on the telly :P)

So it haunts me;

  • Am I sliding down that sad slope too?!
  • What if my $500 would become $500,000,000,000,000.00???
    And then I'm old and kicking myself every day of what could have been.

Knowledge is power
I'm sounding like a quote from an old coffee mug in the staff lunch room - but learning though doing is much more effective than sifting through 100's of articles.

I have something at stake, I'm vested; my attention is keener and I'm not slacking off.
I cant afford to.

$500 ISN'T 833 freddo frogs..
It's worth an immeasurable quantity of FOMO-combating power and a commitment to feel like I'm keeping up with the times and the tech.
Cheap as really.

April 4, 2018 - Noon-ish, on my lunch break.

Buy ---- Approx. $ AUD;

4/10th = $200 of BTC (Bitcoin)*** Update: now approx. 3/10th = $150 AUD
2/10th = $100 of ETH (Etherium)
1/10th = $50 of XRP (Ripple)
1/10th = $50 of LTC (Litecoin)


1/10th = $50 of BNB (Binance Coin)
1/10th = $50 of NEO (Neo)

May 5, 2018
1/10th = ($50 of BTC) ---> XVG

Submitted to the hype and traded 1/4 of my Bitcoin (approx. $50 AUD worth) to XVG (Verge).
I had absolute FOMO, and had missed the spike but bought anyway because of the association with Pornhub. There's a lesson here, but I haven't learned it yet.

Note: To be continued. . . This space to be edited and updated - so you can vicariously spend your $500 through me but still enjoy a freddo everyday for the next 2.3 years!

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Great post! I've been involved in crypto since 2015. The first time I purchased BTC with fiat, I spent $200 at the only Bitcoin ATM in my city at the time!
Fast forward to 2018, my family of 5 now lives exclusively on passive income from cryptocurrency. Half of my income comes from GPU mining the other half from operating Masternodes.
https://steemit.com/masternode/@cocryptominer/masternodes-part-1-a-new-way-to-generate-passive-income

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