I spent the early part of my day working on social media and the evening writing a real estate loans analysis piece, and throughout I watched my Coinbase app as the cryptocurrency–my interests are in Ethereum and bitcoin–markets got shelled by fears of Chinese and South Korean regulations. Yay, me; now my brain is mush.
Concerning the writing of real estate loan analysis, I will just say this: If you ever consider doing it, don’t. Don’t do it; don’t even consider it. My head feels like an overripe melon that has been smacked repeatedly with soft and moronic mallets.
And the social media realm is what it always is. For my endeavors here, I find that you get out of it what you put into it, and it often doesn’t inspire me to put much into it.
That leaves the cryptocurrency situation. There was a lot of selling today due to fears of regulations in China and South Korea. It wasn’t anything that worried me too much–I even put a little money into both bitcoin and Ethereum when I thought they’d hit their bottom–but I just wanted to watch how the trends ran and the posts on LinkedIn.
The markets seem to have stabilized; yes, bitcoin is still down 16% for the previous 24 hours, and Ethereum is down 20, but they’re both well over what they were at their lowest and seeming to be trending upwards.
But, like I said, it really wasn’t much of a concern of mine. I have nothing invested that I can’t afford to lose. I’m looking at the possibility that my small investments might take hold well enough to help with the boys’ college educations. They’re ten and six, so anything that could have happened today wasn’t going to scare me off.
I’m pleased to see more people discussing these things. I’m aware that most people still think of it as “crazy Internet money,” but that doesn’t even bother me. The only thing that I can see doing any real damage to the value of these two currencies is that if things that are like them come along and perform better.
That is more of a concern with bitcoin than it is with Ethereum, but, where bitcoin is concerned, it’s hard to be fearful of the prospect of something that has become the world’s sixth largest currency in less than a decade.
And I have more faith in Ethereum. Chances are, you haven’t even heard of Ethereum, but you should trust me when I tell you it might not hurt to put a little money into it to see what it can do. I’m not going to go all technical on you or anything like that, but I will say that Ethereum is a software based on blockchain technology–the technology upon which bitcoin is based–which can do things that no other software in the world can do right now. I will also say that large corporations had ten years to find ways to interact with bitcoin, but none of them did. Then, Ethereum comes along. Among the companies working to integrate this software are Microsoft, JP Morgan Chase, BP, and Thomson Reuters, as well as another handful of Fortune 500 companies.
So, forget China and South Korea, and anything else that might seem fearful to these prospects, if you have a little money you’re not doing anything with, these might be things that can help you turn it into a little more money.
You can buy both of these through the Coinbase app. The app is free, and the app links to your debit or credit card, maybe even a PayPal account. Each transaction costs $1, no matter of the size, and you don’t have anything more than $1 to start. I have two friends who each started with $10 investments in bitcoin. Now, they may lose their ten bucks; if bitcoin does what some speculators think, that ten bucks will turn into $200 or more. Still, even if it doesn’t, they’ll only be out ten bucks.
Now, think what might happen if it does gain that way, and they buy ten bucks a week going forward. Then you’d be talking about some more serious money. But, yet again, if it doesn’t happen, the loss isn’t something that’s going to kill you.
These are just my thoughts. I’ve been studying this stuff a lot lately, and I honestly do think the money is going to be there to be made. Would I bet the house on this? Not at all; there are simply too many unknown variables. Still, if it’s just a little pocket money, and things do turn out for the good, you might turn an amount that you wouldn’t have given much thought into something worth thinking a bit about.
And that’s that. Hope you’re well, healthy, and prosperous, friends. Until soon.