Anybody Miss the Crypto Rage on BH Forums

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coupleofcents
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Anybody Miss the Crypto Rage on BH Forums

Post by coupleofcents » Wed Dec 05, 2018 2:12 pm

I never bought a single crypto currency, but I can't lie that the spirited discussions had on this forum provided much amusement.

Crypto currencies seem to be the total antithesis to Boglehead philosophy. I feel like we keep losing competing philosophies as inflows to index funds keep rising.

Question:

What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?

staycalm
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by staycalm » Wed Dec 05, 2018 2:19 pm

I'm still holding on to my Dutch tulips :moneybag

Jack FFR1846
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Jack FFR1846 » Wed Dec 05, 2018 2:21 pm

Beanie Babies
Active management
Magic the Gathering cards
Yu-Gi-Oh! cards
Circle of Gold
Bogle: Smart Beta is stupid

core4portfolio
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by core4portfolio » Wed Dec 05, 2018 2:23 pm

I bought GBTC etf for 2k which uses crypto but sold for loss of 1k after a month.
Ofcourse if i hold it now, it will be way less than that
Allocation : 80/20 (80% TSM, 20% TBM) | Need to learn fishing sooner

amphora
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by amphora » Wed Dec 05, 2018 3:25 pm

coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm
Question:

What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?
Real estate. RE investors already have many many forums to discussing ideas.

runner3081
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by runner3081 » Wed Dec 05, 2018 3:55 pm

eTopps... HAHAHA

Kiter
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Kiter » Wed Dec 05, 2018 4:24 pm

Stockpiled guano

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arcticpineapplecorp.
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by arcticpineapplecorp. » Wed Dec 05, 2018 4:46 pm

there will always be something that comes along that people think is the bees knees. We won't know what until it comes along. Then some inevitably will get sucked into it for either fear of missing out or wanting to get rich quick. They will have been warned by others who've seen enough crazes come and go, but some portion won't listen and will dive in anyway thinking the rest of us are old fogies who don't know that the future is here (mutual funds are your grandfather's investment, right?).

By the way, at the time of this writing BTC is trading for $3737 a coin. Remember it was around $20,000 this time last year. How many of your "investments" have lost 80+% in a single year? Individual stocks, maybe.

I'll stick with my boring old no-load, low cost index mutual funds.

Even though there will be some who've had bad luck with crypto who will share their stories with others when the next craze comes along, it's all to easy to say "This time is different."
Last edited by arcticpineapplecorp. on Wed Dec 05, 2018 4:49 pm, edited 1 time in total.
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Spinola
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Spinola » Wed Dec 05, 2018 4:48 pm

coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm

Question:

What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?

I don' think there are too many viable alternatives to "stay the course, invest in indexed equities funds (at whatever equity/ bond split is appropriate and you are comfortable with..)

Real estate is the closest thing?

Collectibles?, maybe, if you have the right expertise /knowledge in the right area (high end watches, rare coins, stamps, banknotes, vintage cars, art..) Not really a feasible "build wealth strategy", more like a "I have too much wealth already and need to spend it on something".. I have collected many things, and sold many for a neat profit over the years, but it takes a lot of time, research, effort and patience to buy low, hold and sell high.. and the occasional success are canceled out by the many losses or simple break even sales.

guns, ammo and liquor? Only if you are a complete pessimist dooomsday prepper.. :mrgreen:

gold, silver? nah..

Crypto is just vaporware, over-hyped nothing, backed by nothing, stabilized by no government or central bank, paying no dividends, worth only whatever the next person is willing to pay for it.

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White Coat Investor
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by White Coat Investor » Wed Dec 05, 2018 4:50 pm

coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm
I never bought a single crypto currency, but I can't lie that the spirited discussions had on this forum provided much amusement.

Crypto currencies seem to be the total antithesis to Boglehead philosophy. I feel like we keep losing competing philosophies as inflows to index funds keep rising.

Question:

What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?
I think real estate investing is the strongest "competing philosophy" to a buy and hold strategic asset allocation of broadly diversified low cost index funds with some factor investing probably the next strongest. I dip into both with my portfolio.

The rest of the stuff noted above (including cryptocurrency) is just silliness. I mean, I literally put cryptocurrency into the same category as Beanie Babies- instruments of speculation. This is my favorite Beanie Baby picture:

https://www.google.com/search?q=beanie+ ... E_iB2UARdM:
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

fennewaldaj
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by fennewaldaj » Wed Dec 05, 2018 4:52 pm

Jack FFR1846 wrote:
Wed Dec 05, 2018 2:21 pm
Magic the Gathering cards
FWIW many old magic the gathering cards are worth far more than they were in the initial mid 90s boom. LIke 20x.

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Watty
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Watty » Wed Dec 05, 2018 4:53 pm

coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm
What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?
Bay Area housing.

There have been lots of threads about that along with other high cost of living areas.

JBTX
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by JBTX » Wed Dec 05, 2018 4:58 pm

Precious metals/Gold.

Every couple of decades they take a significant run and we will rehash arguments about the cost of a suit costing roughly the same amount of Gold in 1900 as it does now. Then they tank and the discussion subsides for another 20-30 years.

UpperNwGuy
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by UpperNwGuy » Wed Dec 05, 2018 5:02 pm

I never bothered to read any of the crypto threads. I'm here for the stocks and bonds, not the alternative investments.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 5:06 pm

Bitcoin and foreign stocks all had their run on this forum.
Last edited by J G Bankerton on Wed Dec 05, 2018 5:07 pm, edited 1 time in total.

Jags4186
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Jags4186 » Wed Dec 05, 2018 5:07 pm

fennewaldaj wrote:
Wed Dec 05, 2018 4:52 pm
Jack FFR1846 wrote:
Wed Dec 05, 2018 2:21 pm
Magic the Gathering cards
FWIW many old magic the gathering cards are worth far more than they were in the initial mid 90s boom. LIke 20x.
Yes, earlier this year an Alpha Black Lotus sold for over $87,000.

Thesaints
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Thesaints » Wed Dec 05, 2018 5:09 pm

coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm
What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?
FIRE.
J G Bankerton wrote:
Wed Dec 05, 2018 5:06 pm
Bitcoin and foreign stocks all had their run on this forum.
You mean staying away from ~half of the World's stock market for no good reason ?

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 5:14 pm

Thesaints wrote:
Wed Dec 05, 2018 5:09 pm
coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm
What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?
FIRE.
J G Bankerton wrote:
Wed Dec 05, 2018 5:06 pm
Bitcoin and foreign stocks all had their run on this forum.
You mean staying away from ~half of the World's stock market for no good reason ?
Read Mr. Bogle's reasons to avoid foreign. I have 10% foreign, never mined a coin.

Thesaints
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Thesaints » Wed Dec 05, 2018 5:19 pm

J G Bankerton wrote:
Wed Dec 05, 2018 5:14 pm
Read Mr. Bogle's reasons to avoid foreign.
Is Mr. Bogle wiser than the market ?
There are reasons why an individual US-based investor may be better off by reducing his share of foreign stocks below its capitalization weighted level, but it is highly dubious if that could ever amount to a large reduction.
Mr. Bogle's reasons might have been valid 100 years ago, but today other developed markets are as stable as the US. The risk of a socialist revolution in Switzerland is probably lower than the risk California seceding from the Union.

patrick
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by patrick » Wed Dec 05, 2018 5:23 pm

arcticpineapplecorp. wrote:
Wed Dec 05, 2018 4:46 pm
By the way, at the time of this writing BTC is trading for $3737 a coin. Remember it was around $20,000 this time last year. How many of your "investments" have lost 80+% in a single year? Individual stocks, maybe.
That is better than most of the other cryptocurrencies. For instance Ether fell from $1422 to $103, a loss of more than 92 percent.

I am sure that the interest in Bitcoin will return if the price recovers.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 5:26 pm

Thesaints wrote:
Wed Dec 05, 2018 5:19 pm
Mr. Bogle's reasons might have been valid 100 years ago,
What is happening in France as I type was one of the reasons mentioned by Mr. Bogle. I see foreign has more staying power than coin though.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 5:33 pm

I blew it back in the day. I crunch numbers for SEIT for free. BTC was a few cents then and didn't make economic sense for me to mine because of the cost of electricity.

geospatial
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by geospatial » Wed Dec 05, 2018 5:47 pm

fennewaldaj wrote:
Wed Dec 05, 2018 4:52 pm
Jack FFR1846 wrote:
Wed Dec 05, 2018 2:21 pm
Magic the Gathering cards
FWIW many old magic the gathering cards are worth far more than they were in the initial mid 90s boom. LIke 20x.
I ran my old collection through XIRR in Excel with latest TCG market prices and it indicates roughly a 15% CAGR. Ironically, that's using the "buy and hold" technique, though I kinda forgot about them over the last 20 years.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 5:55 pm

This is true. I got board with stocks and now invest in cigars. Not ordinary cigars but humidor queens that are destem to be passed from humidor to humidor at ever increasing prices. If I don't smoke too many.

GoldenFinch
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by GoldenFinch » Wed Dec 05, 2018 6:00 pm

I predict that the current love of avocados for toast and guacamole is going to continue. Due to inside information I have about soil and weather conditions where these fruits are grown, I predict their supply will go down while demand continues to rise. People all over the world will start to do anything to get their avocado fix and avacados will start to trade on the black market and in the fruit trade underworld. Avacados will be worth their weight in platinum. THERE WILL BE MONEY TO BE MADE!

My advice is to get in now any way you can. Buy avacado futures, learn to grow them in your basement, anything! And you can thank me later.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 6:05 pm

GoldenFinch wrote:
Wed Dec 05, 2018 6:00 pm
People all over the world will start to do anything to get their avocado fix and avacados will start to trade on the black market and in the fruit trade underworld.
My cigars contain an addictive drug, nicotine. Investing in addictive products has proven to never fail.

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Cycle
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Cycle » Wed Dec 05, 2018 6:21 pm

FIRE is a popular topic, which i think jives well with the general frugality of your median BH.

In the future, it wouldn't surprise me to see a UBI (universal basic income) in certain Scandinavian countries, and I think that will be a hot topic of discussion, not so much the political aspect but what that means for retirement and FIRE. Many philosophical implications.

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Cycle
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Cycle » Wed Dec 05, 2018 6:23 pm

arcticpineapplecorp. wrote:
Wed Dec 05, 2018 4:46 pm
By the way, at the time of this writing BTC is trading for $3737 a coin. Remember it was around $20,000 this time last year. How many of your "investments" have lost 80+% in a single year? Individual stocks, maybe.
My Bolivar investment isn't looking so hot s/

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 6:36 pm

Cycle wrote:
Wed Dec 05, 2018 6:23 pm
My Bolivar investment isn't looking so hot s/
Keep this quiet; Bolivars will be a Habanos Edicion Limitada in 2018.
Cigar News: Habanos S.A. Introduces Bolívar Soberano Edición Limitada 2018

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ClevrChico
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by ClevrChico » Wed Dec 05, 2018 6:55 pm

I don't see much about peer to peer lending these days either.

What's next? Possibly international socks doing really well and posters asking if they should invest? The luxury watch bubble bursting?

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nisiprius
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by nisiprius » Wed Dec 05, 2018 7:25 pm

Cycle wrote:
Wed Dec 05, 2018 6:23 pm
arcticpineapplecorp. wrote:
Wed Dec 05, 2018 4:46 pm
By the way, at the time of this writing BTC is trading for $3737 a coin. Remember it was around $20,000 this time last year. How many of your "investments" have lost 80+% in a single year? Individual stocks, maybe.
My Bolivar investment isn't looking so hot s/
Remember Thunderball?
the total income to date... has amounted to approximately one and a half million pounds sterling in the Swiss francs and Venezuelan bolivars in which for reasons of prudence--they continue to be the hardest currencies in the world--we convert all our takings.
--Ernst Stavro Blofeld, head of SPECTRE, in Ian Fleming's novel Thunderball (1961)

Bolivars are fiat money. You should have been in Petros.
Editors in Wikipedia wrote:The petro, or petromoneda, launched in February 2018, is a cryptocurrency developed by the government of Venezuela.[3][4] As of August 2018 it does not appear to function as a currency. Announced in December 2017, it is supposed to be backed by the country's oil and mineral reserves, and is intended to supplement Venezuela's plummeting bolívar fuerte currency, as a means of circumventing U.S. sanctions and accessing international financing. On August 20, 2018 the bolívar soberano (Sovereign Bolivar) was introduced, with the government stating it would be linked to the petro coin value.
A fiat currency backed by a cryptocurrency. Best of both worlds.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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Kenkat
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Kenkat » Wed Dec 05, 2018 7:32 pm

I am honestly surprised that Bitcoin has held up as well as it did. It stayed around $6k for several months. I wonder where the bottom will be now that it has begun to fall again?

GoldenFinch
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by GoldenFinch » Wed Dec 05, 2018 8:46 pm

J G Bankerton wrote:
Wed Dec 05, 2018 6:05 pm
GoldenFinch wrote:
Wed Dec 05, 2018 6:00 pm
People all over the world will start to do anything to get their avocado fix and avacados will start to trade on the black market and in the fruit trade underworld.
My cigars contain an addictive drug, nicotine. Investing in addictive products has proven to never fail.
Are you saying guacamole is not addictive?

dknightd
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by dknightd » Wed Dec 05, 2018 8:53 pm

staycalm wrote:
Wed Dec 05, 2018 2:19 pm
I'm still holding on to my Dutch tulips :moneybag
Smart! ;)
Crypto currency will make a come back when it can be generated for less than the cost of electricity. Maybe.

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Cycle
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Cycle » Wed Dec 05, 2018 9:04 pm

J G Bankerton wrote:
Wed Dec 05, 2018 5:33 pm
I blew it back in the day. I crunch numbers for SEIT for free. BTC was a few cents then and didn't make economic sense for me to mine because of the cost of electricity.
I remember hearing of Bitcoin when it was pennies a Bitcoin, I researched getting a mining rig but it was too expensive. It's a minor regret of mine.

Episode 289 of planet money there's a guy who talks about how he used to buy them when they were cheap, but has sold many now that it's at $14. He said he made about $5k.

He had a few thousand then. I wonder how many he has now! At 20,000, those few thousand were worth 60MM.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 9:17 pm

GoldenFinch wrote:
Wed Dec 05, 2018 8:46 pm
Are you saying guacamole is not addictive?
Not in my area of New Jersey. I don't know about the Hipsters in Jersey City. They funny.
Cycle wrote:
Wed Dec 05, 2018 9:04 pm
J G Bankerton wrote:
Wed Dec 05, 2018 5:33 pm
I blew it back in the day. I crunch numbers for SEIT for free. BTC was a few cents then and didn't make economic sense for me to mine because of the cost of electricity.
I remember hearing of Bitcoin when it was pennies a Bitcoin, I researched getting a mining rig but it was too expensive.
I had a machine with 8 GPU and 12 CPU, it sucked 1500 watts, the max from a 110 outlet. I built it to look for extra terrestal communication with SETI. It cost $250 a month in electricity. I did this in the dead of winter, it was the only way to keep the machine cool. It was for science and keep the house warm. I should have crunched a few coin but why for a few cents? :oops:

averagedude
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by averagedude » Wed Dec 05, 2018 9:28 pm

Something not mentioned yet, but is a huge speculative investment right now is marijuana stocks. It is in its genesis and could be a huge growth industry in the future. Im only going to invest the amount that is in the indexes.

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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Ragnoth » Wed Dec 05, 2018 9:31 pm

It can be fun to speculate or to try to make a quick buck mining, but most arguments for crypto in the long-run either conflate it with "Blockchain" as a technology, or devolve into far-fetched hypotheticals about the black market and impending government collapse. The best real argument I've seen for an "intrinsic value" is as an alternative to other forms of cash transfers.

Assume you were a new merchant dealing in $10 transactions (e.g., fast casual restaurants or most day-to-day retailers). Card processors like PayPal will charge you 2.9% + 30 cents to do a transaction, or about ~$0.59 per transaction. I think there is an argument for crypto if it allowed you to do the same thing *substantially* cheaper (in order to compensate for the added volatility of exchange rates, the delay in the transaction clearing, and the hassle of converting back to dollars).

Right now, the cost of a Bitcoin transaction is about ~$0.17. You can make of that what you will, but my sense is that the price was hyperinflated last year, and the current price is probably closer to a point it has at least some hypothetical utility.

helloeveryone
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by helloeveryone » Wed Dec 05, 2018 9:32 pm

Yeezys

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 9:34 pm

averagedude wrote:
Wed Dec 05, 2018 9:28 pm
Something not mentioned yet, but is a huge speculative investment right now is marijuana stocks. It is in its genesis and could be a huge growth industry in the future. Im only going to invest the amount that is in the indexes.
The Tobacco cabal is moving in on the marijuana business along with the Beer industry. Just stick with the addictive stocks we have and know.

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happyisland
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by happyisland » Wed Dec 05, 2018 9:36 pm

To anybody wanting some more crypto drama in their lives, I recommend an interesting article on a cryptocurrency cruise: https://breakermag.com/trapped-at-sea-w ... eau-riche/
TLDR: I'm not feeling a lot of FOMO.

averagedude
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by averagedude » Wed Dec 05, 2018 9:37 pm

J G Bankerton wrote:
Wed Dec 05, 2018 9:34 pm
averagedude wrote:
Wed Dec 05, 2018 9:28 pm
Something not mentioned yet, but is a huge speculative investment right now is marijuana stocks. It is in its genesis and could be a huge growth industry in the future. Im only going to invest the amount that is in the indexes.
The Tobacco cabal is moving in on the marijuana business along with the Beer industry. Just stick with the addictive stocks we have and know.
I couldn't agree with you more. The few companys that will profit from this industry will be the ones we already know.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 9:42 pm

Ragnoth wrote:
Wed Dec 05, 2018 9:31 pm
Assume you were a new merchant dealing in $10 transactions (e.g., fast casual restaurants or most day-to-day retailers). Card processors like PayPal will charge you 2.9% + 30 cents to do a transaction, or about ~$0.59 per transaction. I think there is an argument for crypto if it allowed you to do the same thing *substantially* cheaper
It can take 90 seconds or longer for the chain to crunch a transaction. It will get longer and longer as time goes by. That would not fly in the retail world. BTC is for hiding money and doing illegal things. That is what keeping it alive. The drug cartels hold billions in BTC.

J G Bankerton
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by J G Bankerton » Wed Dec 05, 2018 9:50 pm

averagedude wrote:
Wed Dec 05, 2018 9:37 pm
J G Bankerton wrote:
Wed Dec 05, 2018 9:34 pm
averagedude wrote:
Wed Dec 05, 2018 9:28 pm
Something not mentioned yet, but is a huge speculative investment right now is marijuana stocks. It is in its genesis and could be a huge growth industry in the future. Im only going to invest the amount that is in the indexes.
The Tobacco cabal is moving in on the marijuana business along with the Beer industry. Just stick with the addictive stocks we have and know.
I couldn't agree with you more. The few companys that will profit from this industry will be the ones we already know.
Marijuana is not patentable and once it is totally legal, and not cash only, the big boys of tobacco and alcohol will crush the startups like the cockroaches they are.

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Kenkat
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Kenkat » Wed Dec 05, 2018 9:54 pm

Tobacco has enough problems dealing with the upstart vape industry unless they still wield enough power to have them shut down. Now beer and alcohol, that’s not going away anytime soon...

My kid was mining Bitcoins with his gaming computer while at school all day when they were going for $10/ea. Boy I wish I had dropped a couple grand on them as speculation but at the time it seemed even more ridiculous than it does now.

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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Cycle » Wed Dec 05, 2018 9:56 pm

J G Bankerton wrote:
Wed Dec 05, 2018 9:17 pm
GoldenFinch wrote:
Wed Dec 05, 2018 8:46 pm
Are you saying guacamole is not addictive?
Not in my area of New Jersey. I don't know about the Hipsters in Jersey City. They funny.
Cycle wrote:
Wed Dec 05, 2018 9:04 pm
J G Bankerton wrote:
Wed Dec 05, 2018 5:33 pm
I blew it back in the day. I crunch numbers for SEIT for free. BTC was a few cents then and didn't make economic sense for me to mine because of the cost of electricity.
I remember hearing of Bitcoin when it was pennies a Bitcoin, I researched getting a mining rig but it was too expensive.
I had a machine with 8 GPU and 12 CPU, it sucked 1500 watts, the max from a 110 outlet. I built it to look for extra terrestal communication with SETI. It cost $250 a month in electricity. I did this in the dead of winter, it was the only way to keep the machine cool. It was for science and keep the house warm. I should have crunched a few coin but why for a few cents? :oops:
do own the URL for bitbitter.com, perhaps now is the time for me to launch my blog and tell stories such as this.

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Strayshot
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Location: New Mexico

Re: Anybody Miss the Crypto Rage on BH Forums

Post by Strayshot » Wed Dec 05, 2018 10:11 pm

Kenkat wrote:
Wed Dec 05, 2018 7:32 pm
I am honestly surprised that Bitcoin has held up as well as it did. It stayed around $6k for several months. I wonder where the bottom will be now that it has begun to fall again?
Eventually Bitcoin will go back to its actual and original value, which is nothing.

AlphaLess
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by AlphaLess » Wed Dec 05, 2018 10:15 pm

coupleofcents wrote:
Wed Dec 05, 2018 2:12 pm
Crypto currencies seem to be the total antithesis to Boglehead philosophy. I feel like we keep losing competing philosophies as inflows to index funds keep rising.

Question:

What other investing philosophies/strategies do you find most likely to compete with Bogleheads in the years to come?
I wonder how that question followed from the first sentence.

I mean, what makes you think that crypto currencies was "most likely to compete" with Bogleheads?
"You can get more with a kind word and a gun than with just a kind word." George Washington

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fortfun
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by fortfun » Wed Dec 05, 2018 10:34 pm

With the way the stock market is performing, I've been considering investing in Legos. Mostly Harry Potter and Star Wars ;)

Seriously though, I calculated the original Harry Potter Lego Castle has increased in value something like 500X. Wish I had one in the original wrapper...

Nate79
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Re: Anybody Miss the Crypto Rage on BH Forums

Post by Nate79 » Wed Dec 05, 2018 10:58 pm

Greed.

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