Investing In Goldmoney.com - One of The Worst Financial Decisions of My Life
Today I am closing my goldmoney account that I opened a year and a half ago with $10,000. I withdrew less than$9500 dollars.
I opened that account in December 2016. The day I opened it, Ethereum was between 7 and 8 dollars, Steem was less than $0.25, Bitcoin was around $800, and Bitcoin cash and Bitcoin gold were free. Here is what I would have today had I bought anything but gold money
Ethereum = 1350ETH
Bitcoin = 12.5 Bitcoin (12.5 BCH/BCG/BCD)
Steem = 40,000 Steem
CASH = 500 ( $20 dollar bills)
Put Your Money Where Your Value Are
The monetary loss is something to consider, the real tragedy in this situation is supporting an enterprise that works against my values. Goldmoney has shown themselves to be one of the bad guys. (Bad guys are people who want to print money out of thin air and trade it for the fruits of other peoples productive labor). Goldmoney showed this by speaking against Bitcoin (which they now accept as payment), and the fact that they have engaged in no meaningful criticism of the price manipulation which dominates the precious metals industry. Goldmoney is designed to turn a profit from the usage of precious metals as a value transfer medium. This is not a ignoble goal, but it is not one that is necessary consistent with determining a true and fair price in metals.
If You Lose Money Supporting your Values, You still Won
In the same time period I have lost as much as 50% of my original investment in CDX tokens, a crypto currency that is has been hammered by relentless attacks from the bad guys because it is creating a competing advertising network to google ads. The purpose of CDX is to provide alternative news websites with stable income and advertisers to such markets more affordable and more honest advertising using the blockchain. I think my 6 ETH invested in this company will probably make me a millionaire in 5 years, or provide me enough advertising to make my business well known. If I lose every cent invested, I know the bad guys will have had to spend 10 times a much fighting my effort.