Too late for crypto?




Deposits include transaction fees.
Date Amount deposited to each coin Total amount deposited
8/10/18 $10.25 $30.75
8/24/18 $8 $54.75
9/7/18 $6 $72.75
9/21/18 $8 $96.75
10/5/18 $12 $132.75
10/23/18 $9 $159.75
11/14/18 $10 $189.75

I'm interested in cryptocurrency. When I have tried to talk to people in the past about it I start to feel like I'm trying to convert someone, and that's not who I am, so when I have talked to people about it, I've let them bring it up to me.

During my conversations with people who are interested in cryptocurrency, they always ask me if they are too late. The simple answer is yes, if you don't think the price is going to get higher than it is now, and no, if you still think there's room to grow. It's like any other asset.

That led me to wondering if newcomers to crypto have missed out, so I'm going to do an experiment, to see what would happen if I would have actually added the same amount of money to three different assets available on Coinbase.com, Litecoin, Bitcoin, and Ethereum. I'll add between $5 and $50, once or twice a month to all three to see what happens in the next few months or years or until I get bored.

As you can see there is $36.86 in Monero in there as well, but I won't be adding to it monthly.

There are 25 cent fees for buying each of them, so any costs associated with the purchase, will be added to the investment price.

So we're clear, I'm not actually going to invest money in crypto and neither should you. I'm not an investment banker nor do I have any clue about will happen with this experiment. This is just for fun.

11/19/18 - I'm out

With the crypto market tanking I pulled all of my money out for a loss of $50.63 in around three months. I would consider putting my money back in, but there was a pretty good article about how Bitcoin is in a death spiral.

I don't know if the article is true, but I do know that Bitcoin is becoming more expensive to mine and at some point the miners won't get the return on the investment that they are accustomed to.