Good idea?

Photo by Pixabay on Pexels.com

Well, I am not sure what to make of it, but the early indications are positive. I decided at the end of December to try something new and dabble in a little something I don’t know much about. I decided to “invest” in digital currency, or cryptocurrency, or virtual currency.

It’s not a large investment because I wanted to see how it works and just kind of dip my toes into it. Because of the high volatility of cryptocurrency, I am a bit leery of the stuff but at the same time kind of intrigued by it. As such, the time and money and opportunity all seemed to come together.

I have money that goes into a PayPal account that just kind of sits there. The long and short of it is that the money is basically “free money” that I get each month from resources that I published online while I was a teacher. I get sales from that each month and the amount varies widely based on the number of items purchased. So, there is a lump of “cash” sitting in the account mostly doing nothing. I could transfer it my regular bank account, but why? I look at it as a blind account for a rainy day.

Anyway, at the end of December I saw that PayPal was going to offer the ability to purchase digital currency. So, I decided to take a small-ish amount of that lump and see what happens. There isn’t a need to have access to that money, really, so it is mostly a long term investment.

I bought some Bitcoin and Ethereum, two of the most popular forms of digital currency. Why these two? Well, from what I can gather they are also the most stable – as far as that goes.

Anyway, I put $90 into Bitcoin and $20 into Ethereum. At that point, I was a very small, fractional, owner of the currency. Exciting right? Not really. When you look at the amount per share it is less than thrilling. One share is worth $55.4k at the moment. So, I own all of 0.00339408 for my $90 investment. Cool, right?

Well, that is the interesting part. For my original investment of $110, I now have a chunk of “cash” that sits at just under $242 (at time of publishing). I have more than doubled that little toe dip in just under two months. Is that a good return? I would say so, but at the same time it could go right back down to where I started in a heartbeat so I am not getting real excited.

BUT, I can certainly see why there are lots of people so enticed by this idea. Buy in, watch it go up, sell at a higher price. If you’re talking in BIG dollar amounts, this would make total sense. In fact, Elon Musk (he’s kinda bright, right?) just sunk $1.5 billion into Bitcoin from his Tesla company at the beginning of the month. He was looking to create more capital by leveraging Bitcoin. Seems it worked since the price has shot up since he invested.

I am not making or giving any financial advice, by any means. However, I am curious if there are any others out there that have ventured into these relatively unknown waters and what their experience has been.

Hit me up in the comments and let me know what you think. Good idea? Bad idea? Had good or bad success yourself?

It sits all day, so why not?

blur building business cars

Photo by David McBee on Pexels.com

Electric cars.

I think they would be more prevalent if people weren’t so worried about distance it could travel and charging it. I think those two things are sort of intertwined.

I guess I have always wondered why you have to plug the thing in in the first place. Why? If there is technology out there that will make high rise windows into charging panels, why can’t that be incorporated into automobiles? Or if Tesla can make solar roofing tiles and turn the whole rooftop into something that charges your home, why can’t it make the hood (or roof) of your car out of the same material?

I know, it takes a lot of time to recharge and I know (I asked this once of a smarter friend) that it would take a huge amount of charging to make a car work from such limited charging capability. He asked, “Would the cost be worth it?” My answer was that I didn’t know because apparently no one has tried, isn’t some charge better than no charge, and eventually cost would come down because that is what happens with tech as it improves.

Here’s the thing, most people’s cars spend most of the day sitting around, either in the driveway or in a parking lot somewhere. Why can’t it be recharging at the same time without having to be plugged in?

Things that make you go, hmmmmm.