On 11/17/22 9:16 AM, Roger Critchlow wrote:
Tsk, so many bad investments, so little time!
Binging Sandy Pentland led me to etoro.com <http://etoro.com>, where
everybody can see how everybody's portfolios are doing. The front page
gives the top crypto traders on the site, who are all around -70% for
the past year. But scroll down and you find out that they range
from +27% to +197% for the past two years.
-- rec --
On Wed, Nov 16, 2022 at 12:02 PM Marcus Daniels <[email protected]>
wrote:
Having investments go bad makes me feel prosperous, like going to
the dentist. I probably shouldn't have investments.
Thus my question a while back about leads/ideas around
microlending/local-investment opportunities.
I would take up composting as Glen suggested, but the worms in my
worm-bin would consider that a waste of perfectly good nutrition for
themselves. It turns out they *really* seem to prefer that I make
vegetable stock from my scraps before I dump the (now cooked) bulk of
those scraps into their world. The resulting stock cuts down my
aluminized-mylar-cardboard landfill-waste by a box or two a week. They
do like shredded currency as bedding material, but no more obviously
than shredded newspaper, junk mail and printer paper. I don't know how
they feel about the holographic strips in >$50 notes, I don't "invest"
anything larger than $5bills with them. With enough roughage via
kitchen-waste, they don't seem to need any added carbon anyway.
<virtue maundering>
It is hard to think about Publicly Traded Securities as *investment*
in anything (other than the greater glory/wealth of Billionaires?),
much less Crypto which has no obvious mode other than *pure
speculation* and utility even less than something as near-useless as
gold (at least Platinum and Palladium have very acute utility in
high-tech processes though that may be a liability?).
If I have liquid assets I can afford to lose, why not *lose* them
helping someone in my community try to do something requiring
Capital which I think would actually improve the community? I say
*community* loosely... it needn't be geographic, merely within a
few degrees of separation wherein I have a chance of understanding
the implications and consequences of my "investment".
Money === Mouth? Naturally, if I don't *know about* these
opportunities, that is a hint in itself... I'm probably not paying
attention closely enough, or there is a reason the "opportunities"
seem to be otherwise? If they tear down a 150 year old tiendita in
the Pojoaque Valley (that has not operated for 50 of those) and
build yet another Dollar $tore then it is probably for more "good
reason" than the 5th generation family owning the tiendita property
not having the capital to renovate and (re)stock with the items
people need/want today.
I "invested" a small amount in Mary's Nephew's Ukranian Refugee
Charge last year, understanding it was a gift, not a loan. She is
finally able to travel freely to the US from Poland where she
established herself in a refugee community/network and for the
moment has decided she is better off there. Her Grandmother who
stayed in Ukraine died recently (natural not Russian causes) and
this only reinforced her feeling of wanting to return to Ukraine
when things settle more. While I am not against US funding for the
Ukraine's national defense, I am even more *for* supporting the
likes of Vlada in navigating her personal journey through this
time. I suppose I could have put that cash into Crypto (or Tesla)
and now be crying in my (spilled and souring) milk.
Maybe I should "invest" in a replacement gold crown so that I don't
have to chew funny on the right side? Maybe I can find a dentist
with a get-one-give-one program? I am sure there are people in my
community who could use more than one lump of gold fitted over a
tooth nub? Gold isn't useless really... I just said that for effect
to tickle any GoldBugs in my vicinity.
Maybe instead save up for a heart transplant when this one wears out
(if it's good enough for Dick Cheney, it's good enough for me)? Or
invest a nickel into cloning or GMO pig organ transplant tech? Or
a bigger flat-screen TV... I hear Black Friday deals are already queued!
</virtue maundering>
-----Original Message-----
From: Friam <[email protected]> On Behalf Of glen
Sent: Wednesday, November 16, 2022 8:57 AM
To: [email protected]
Subject: Re: [FRIAM] (not) leaving Twitter
I know, right. My Ada's down from $200 to $100! I'm not quite sure
how I'm gonna pay the rent. /s
I saw some post on Mastodon that I can't find now. The person was
lamenting FTX and how they knew 2 people personally, one who lost
$90k and another who lost something like $10k. And he closed with
"neither of which could afford it." Maybe I'm cruel. But my first
thought was, why in hell did you have $90k in crypto if you
couldn't afford to lose it? I mean, I know there's a sucker born
every minute ... but $90k? I could live for at least a couple of
years on that. To even have 90k to invest *at all*, anywhere,
implies something.
On 11/16/22 08:44, Marcus Daniels wrote:
> Lol, well I guess I bought the right Proof of Stake crypto.
(Not really, I got demolished too!)
>
> -----Original Message-----
> From: Friam <[email protected]> On Behalf Of glen
> Sent: Wednesday, November 16, 2022 8:39 AM
> To: [email protected]
> Subject: Re: [FRIAM] (not) leaving Twitter
>
> More Billionaire news [sigh]:
>
> What happened at Alameda Research
> https://milkyeggs.com/?p=175
>
> On 10/31/22 10:28, Steve Smith wrote:
>> Great quote from CDs screed:
>>
>> "Every billionaire is a policy failure, but every
billionaire is also a factory for producing policy failures at scale."
>
--
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