It's been a pretty exciting week in the world of cryptocurrency. I think there are a lot of people who never imagined that the events of January 10th would ever happen. I think it still remains to be seen how all of this is going to play out, but nothing has crashed yet, so that is a good thing.
We have a major winter storm moving into our area later today. They are calling for something like a foot of snow which would be about a third of a meter for you folks using a system of measurement that makes sense.
I figured it might be a good idea to move our generator out of storage last night and ensure it was topped off gas and ready to go. I also wanted to take a photo of it to use for this post today. Done and done!
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the community.
Speaking of Generators...
I've been saying for a while now that I don't feel like I am as prepared for this bull market as I was for the last one. Being honest, I wasn't really prepared for the last one either, but I was able to make due.
People keep talking about how this bull market could be nothing like we have ever seen before. The promise of abundant wealth for early investors is quite exciting. I can't help but think that isn't going to be the case with me for a couple of reasons.
First, I know for a fact I didn't make all the right moves last bull. I failed to move funds into stables, so that left me at a deficit to build/buy during the bear. Instead I have just been holding the same tokens I was holding before. My assumption is, with a few exceptions, we probably won't see the same tokens moon like we did last time. That doesn't bode well for me and my "stale" holdings.
Second, last bull market I was invested in a number of NFT projects that were actively generating me wealth (see the reason for the photo now?). I had a daily stream of gains coming in from projects on WAX like RPlanet, Alien Worlds, and Splinterlands here on Hive.
Gone are the days of those projects generating much of anything, don't get me wrong, I have tokens that I think will do really well this cycle, but it's more of a "one and done" thing. You either sell them and take gains or hold them and don't. Sure, tokens like MATIC have some light staking potential, but unless you hold a huge number of tokens, the return is going to be quite small no matter how high the price goes.
Maybe I'm worried about nothing, but as I said, part of me feels like this bull cycle isn't going to generate wealth for me the way it will others, or the way I had hoped.
Chrometophobia
If you talked to @mrsbozz she would likely tell you that I had Chrometophobia (assuming she even knew what that meant). Chrometophobia is the irrational fear of spending money. It's specifically noted that this is different than being frugal, it's an irrational fear after all. The truth is, I don't mind spending money, but I do have an irrational fear of screwing up large purchases.
It's funny because I make large purchases for my department every day at work with little issue. That's not my money though so it's different right? @mrsbozz and I have been looking into getting a treadmill for a little bit now. If I am being honest, I am absolutely terrified of making this purchase.
There are so many brands and options out there and none of them are exactly cheap. What if I pick the wrong one? What if I buy one that doesn't work well for us and we end up hating it? What if I select one that is fraught with issues and customer service ends up being a nightmare to work with?
Realistically I should have clicked the buy button a couple of weeks ago, but I keep finding reasons to put it off. If I pick something crappy not only am I letting myself down, I'm letting @mrsbozz down too. It's horrible. I haven't felt this much anxiety since I bought my wife's car about six months ago.
Do you suffer from this same phobia (fear of screwing up large purchases)? If it had a name, what would you call it?
Silver Gold Stackers Secret Santa
It took a bit for the postal system to work its magic, but I finally got my package from my first time participating in the #silvergoldstackers Secret Santa event. I'm pretty excited to share it with you, but I am going to save that for a separate post. I already have a ton of content to cram into this one.
So It Begins
I got a message from @diamonddave the other day that he finally bought his first satoshi's of BTC. I'm happy for him, but I was a little surprised that he waited until now to do it. I have been talking openly to him and his wife for years about crypto. Like I said, I'm happy for him, but I think this is a good indicator that the "normies" are finally starting to accept what we have known for so long.
If nothing else, the ETFs could help legitimize crypto for a lot of people who were on the fence before. However, our buddy Gensler is still doing everything he can to get the last word in on the argument. Shortly after the ETFs were approved, he released this statement.
"Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.[8]"
Those are the last two paragraphs of the statement. As I said, he just can't help but get that last jab in against BTC. The pettiness of this man truly knows no bounds.
Speaking of Sats
I've had a monthly buy of BTC for quite some time now. It isn't a lot, but I have been actively "stacking sats" for a couple of years now. One thing I still haven't been able to do yet is shift my thinking to sats. I saw a discussion about another token the other day where people saying they planned on buying and selling based on the token being a specific value in sats. I've seen discussion like this before, but my Gen X mind still has trouble thinking that way.
For whatever reason, I'm still mired in the fiat world where I value tokens in US dollars and not sats. I'm just curious if I am the only one? Has it been easy for you to shift your thinking to sats? When you look at the value of a token, do you see it in sats or dollars? What do you think the key is to making that shift?
Sports Talk Social - @bozz.sports
