OT 19: Masks On, Clothes Off, Right Hand Left Titty

[troyguitar]

I have a co-worker who is a pure genius and has read up on crypto for years now. He put me onto an alt coin called Chainlink. It basically serves as smart contract fulfillment by “linking” the reliability and accuracy of blockchain tech with the real world. He got in at $0.15/per and has about 170,000 of them. They are now close to $50/per. I got in at $1.99 so I am doing alright too.

Why is he still working?

[ChrisoftheNorth]

Block chains are public so you know when coins are mined and enter the supply. There’s also a finite number of coins available/possible to be mined.

Do you know if block chains are reliable? I'm reading up on scams, and there are some shady large scale events taking place now and then. Again, I don't know my head from my ass when it comes to the inner workings of crypto offerings on the market, but if shit hit the fan do you not think there could be a bunch of crashing servers and stolen money? I guess the same could be said about stocks, but at least those lofty valuations have some connection to a functioning business.

https://blockchainmagazine.net/top-5-bl ... -aware-of/


Sorry man, I'm in a dark place today. Just sharing some of my many disgruntlements

10 years ago I was in grad school, and a classmate was telling me about this new currency that's going to take over the world called Bitcoin. He bought $10k worth, which at the time a bitcoin was like $.10 or something, so he got A LOT. He said he was starting to look into getting into mining and swore he was going to be rich.

I didn't have much cash at the time, but was debating some small investment.

The next week I saw him in class and he was all I asked him what's up and he said his Bitcoin wallet was hacked and he lost everything. No hope of getting it back, just gone. He was still up on the concept, but claimed it would take years before it was secure enough for him to invest in again. I got in the car after class listening to NPR and it was apparently a widespread attack that wiped out a ton of people. That did it for me, I wrote it off since.

It's more secure now, basically like a bank account EXCEPT it's not insured unlike most bank accounts. Lose money in the bank and it's the bank's fault, you're not screwed. Lose your crypto and AFAIK, it's gone.

Still, if I had thrown what little free cash I had at the time when BTC was $.10 and I managed to not lose it, I'd be sitting pretty right now. Oh well.

[ChrisoftheNorth]

I have a co-worker who is a pure genius and has read up on crypto for years now. He put me onto an alt coin called Chainlink. It basically serves as smart contract fulfillment by “linking” the reliability and accuracy of blockchain tech with the real world. He got in at $0.15/per and has about 170,000 of them. They are now close to $50/per. I got in at $1.99 so I am doing alright too.

Why is he still working?

Because it's worthless until you sell. And it's still going up! Why sell if it's going up!?!?

This is gambling, pure and simple.

[razr390]

I have a co-worker who is a pure genius and has read up on crypto for years now. He put me onto an alt coin called Chainlink. It basically serves as smart contract fulfillment by “linking” the reliability and accuracy of blockchain tech with the real world. He got in at $0.15/per and has about 170,000 of them. They are now close to $50/per. I got in at $1.99 so I am doing alright too.

Why is he still working?

Because he continues to research and invest. His actual assets are in a hardware wallet underground in some depository in Nebraska.

For him it’s not about the $. It’s about the new wave of tech and how he can continue to learn and benefit from it.

[razr390]

Tomorrow is 5/7.

[razr390]

Why is he still working?

Because it's worthless until you sell. And it's still going up! Why sell if it's going up!?!?

This is gambling, pure and simple.

He already has enough cash on hand to basically pay for his rent/living if any last minute emergency would happen and he’d need it. The rest he just stakes on more and more gains.

The crazy part is that he is really down to earth. Drives a v6 new charger that he bought in cash because his best to shit Hyundai Tiburon broke on the Highway.

He got the dodge dealership to buy his tiburon for $2k trade in and he specifically told them it was literally abandoned on the shoulder of the highway 5 mins down the road

[ChrisoftheNorth]

Because it's worthless until you sell. And it's still going up! Why sell if it's going up!?!?

This is gambling, pure and simple.

He already has enough cash on hand to basically pay for his rent/living if any last minute emergency would happen and he’d need it. The rest he just stakes on more and more gains.

The crazy part is that he is really down to earth. Drives a v6 new charger that he bought in cash because his best to shit Hyundai Tiburon broke on the Highway.

He got the dodge dealership to buy his tiburon for $2k trade in and he specifically told them it was literally abandoned on the shoulder of the highway 5 mins down the road

negotiation.

[troyguitar]

Why is he still working?

Because he continues to research and invest. His actual assets are in a hardware wallet underground in some depository in Nebraska.

For him it’s not about the $. It’s about the new wave of tech and how he can continue to learn and benefit from it.

Seems easier to do that without a day job. 8 million dollars would be enough for me to quit everything and move to Marseille tomorrow.

[razr390]

Because he continues to research and invest. His actual assets are in a hardware wallet underground in some depository in Nebraska.

For him it’s not about the $. It’s about the new wave of tech and how he can continue to learn and benefit from it.

Seems easier to do that without a day job. 8 million dollars would be enough for me to quit everything and move to Marseille tomorrow.

He simply doesn’t care. And in a way I am starting to understand why these careless, but not sloppy, people end up becoming billionaires or whatever because they aren’t afraid to risk it.

[ChrisoftheNorth]

Because he continues to research and invest. His actual assets are in a hardware wallet underground in some depository in Nebraska.

For him it’s not about the $. It’s about the new wave of tech and how he can continue to learn and benefit from it.

Seems easier to do that without a day job. 8 million dollars would be enough for me to quit everything and move to Marseille tomorrow.

I'd quit my job if I had anything in the 7 figure range. Probably not quit working entirely (depends what the 7 figure starts with), but that would be enough for me to figure things out for a while.

[ChrisoftheNorth]

Seems easier to do that without a day job. 8 million dollars would be enough for me to quit everything and move to Marseille tomorrow.

He simply doesn’t care. And in a way I am starting to understand why these careless, but not sloppy, people end up becoming billionaires or whatever because they aren’t afraid to risk it.

Just as easy to end up penniless with that mentality. Big risk=big reward/big failure

[Apex]

Tomorrow is 5/7.

[Apex]

He simply doesn’t care. And in a way I am starting to understand why these careless, but not sloppy, people end up becoming billionaires or whatever because they aren’t afraid to risk it.

Just as easy to end up penniless with that mentality. Big risk=big reward/big failure

They’re not nearly as risk adverse as those here.

[wap]

Tomorrow is 5/7.

[razr390]

He simply doesn’t care. And in a way I am starting to understand why these careless, but not sloppy, people end up becoming billionaires or whatever because they aren’t afraid to risk it.

Just as easy to end up penniless with that mentality. Big risk=big reward/big failure

Yep. He doesn’t care. He has his break in case of emergency cash. Everything else is to the moon

[razr390]

If I had 7 figures I’d still like to work. Whether that’s becoming a consultant to businesses on my own time/schedule or owning a small business/non-profit.

I’d also get a GT3/RS and drive across the country

[Apex]

If I had 7 figures I’d still like to work. Whether that’s becoming a consultant to businesses on my own time/schedule or owning a small business/non-profit.

I’d also get a GT3/RS and drive across the country

If it’s orange you’ll be the second person I know to do that.

[troyguitar]

If I had 7 figures I’d still like to work. Whether that’s becoming a consultant to businesses on my own time/schedule or owning a small business/non-profit.

I’d also get a GT3/RS and drive across the country

I mean I'd "work" but not on anything that makes a profit and not for anyone else. I'd buy a small music performance venue and hire people I liked to play there, all while operating at a loss intentionally so the artists can get paid without charging ridiculous prices to guests.

[ChrisoftheNorth]

Just as easy to end up penniless with that mentality. Big risk=big reward/big failure

They’re not nearly as risk adverse as those here.

I'm putting money in stocks that never change price and pay solid dividends. Treating them like savings accounts until things settle down. Probably never will and I'll miss out on being a billionaire. But I also won't go broke.

[Melon]

They’re not nearly as risk adverse as those here.

I'm putting money in stocks that never change price and pay solid dividends. Treating them like savings accounts until things settle down. Probably never will and I'll miss out on being a billionaire. But I also won't go broke.

I've been investing in the company stocks. 12% annual dividend payments, paid out quarterly, and the stock goes up about 5% annually. It's a solid investment.

Plus if I get shit canned, they have to pay.

[troyguitar]

Actually now that I think about it, I might need 8 figures to execute that plan in a good way without running out of money in my lifetime.

[ChrisoftheNorth]

If I had 7 figures I’d still like to work. Whether that’s becoming a consultant to businesses on my own time/schedule or owning a small business/non-profit.

I’d also get a GT3/RS and drive across the country

I mean I'd "work" but not on anything that makes a profit and not for anyone else. I'd buy a small music performance venue and hire people I liked to play there, all while operating at a loss intentionally so the artists can get paid without charging ridiculous prices to guests.

I'd do something similar. If I was rich enough to accept a loss, that would be awesome. But even enough money to do something like that and break even would be outstanding.

Even just a small business of some sort would be awesome. There's a local bread bakery that's for sale right now for $1M. Bakes the best bread in town IMO. Has existing contracts with the local Costco, Meijer, and other grocery stores to supply bread. Also includes a building in a hot area of TC with 2 apartments rented with long term lease agreements and a roof top that could serve as a cafe and first floor bakery and retail space. The business has gobs of potential, and is already turn-key profitable. Just don't fuck up what works and improve on some other areas (they could expand their cafe offering because the location gets a lot of foot traffic) but alas I don't have $1M, so

[ChrisoftheNorth]

I'm putting money in stocks that never change price and pay solid dividends. Treating them like savings accounts until things settle down. Probably never will and I'll miss out on being a billionaire. But I also won't go broke.

I've been investing in the company stocks. 12% annual dividend payments, paid out quarterly, and the stock goes up about 5% annually. It's a solid investment.

Plus if I get shit canned, they have to pay.

That's a really excellent investment IMO.

[ChrisoftheNorth]

Actually now that I think about it, I might need 8 figures to execute that plan in a good way without running out of money in my lifetime.

Depends on your intended scale, but probably 8 figures if you're going to lose money on a big venue. I feel like break-even would be an attainable target and if you did something on the smaller side (like an old theater in a downtown type thing), 7 figures might cut it.

[troyguitar]

Actually now that I think about it, I might need 8 figures to execute that plan in a good way without running out of money in my lifetime.

Depends on your intended scale, but probably 8 figures if you're going to lose money on a big venue. I feel like break-even would be an attainable target and if you did something on the smaller side (like an old theater in a downtown type thing), 7 figures might cut it.

I'm assuming that I'd be buying a home and a small venue, probably a million or more needed for that alone if it's not financed. Then covering our own living expenses on top of hiring at least a few full-time employees because I don't want to micromanage/DIY everything... running costs must be on the order of half a million a year all-in for a small operation?