a99kitten's Musings

I blog about a WHOLE LOT of stuff :)

I love the idea of Bitcoin/cryptocurrency. LOVE it. Mostly because I love the idea of keeping big government out of anything and everything.

Does that mean I don’t believe oversight is needed? No. While I hate big government, I am also well aware that humans are retarded and most of them require supervision. That pretty destroys the ideals of Libertarians. You need common sense and decency for it to work. Sadly…that is not common.

I started buying crypto in 2016. I bought a Ledger Nano to store it on. The whole idea of cold storage was you keep it it a drawer (or fire-proof safe) and it was safe from hackers, government, etc. Sure. Sounds great. Crypto was finance embracing technology. Store your money *on* tech.

I take it out and check it every few months. Every single time there is some update that takes forever and I always wonder what if this thing just dies? It’s electronic – of course it will. That’s the nature of tech – you need the new upgrade every 2 years. Just ask Apple.

But the reviews for Ledger are always good. And I have my root words stored away. Because NOTHING says top tier, cutting edge technolgy and the future of money than having to keep your recovery words stored on a FN piece of paper someplace so it can’t be hacked. Sigh.

Today – open up Nano S. Move my ETC because I want to sell it. Get rid of shitcoins. Well – that transaction still shows pending after 8 hours. Fun times.

Also want to move some LTC. Decide to sell some to buy other crypto. LTC is a shifty crypto at best. Move some. THEN Ledger says I need to download/install their update to complete moving. Huh? Fine. Quick download/install. Plug Nano back in – the screen that you need to enter your passcode. Black. WTF? Then it comes back in spotty illuminated fashion – I am able to see it just enough to enter my passcode. After that screen – the illumination is JUST FINE. Only the most important passcode section is basically dead AFTER THE LEDGE UPGRADE. I try to complete the transaction but it says “OH IT MIGHT HAVE FAILED TRY AGAIN.” When I try – the passcode screen – black. DED.

Go online – search for issues about this. Yep – dead. You can order a new wallet. Or use an online one to recover your crypto BUT (and all warnings were strong and in capital letters) if you use an online wallet, you will need to enter your recovery words and they can be stolen, hacked, don’t trust the web, don’t trust online, don’t trust your computer – use a computer you only use or this!, etc etc etc.

So I need to order a new unit (which I did), or use an online wallet, to recover my money sitting in the ether USING MY PIECE OF PAPER WITH MY RECOVERY WORDS ON IT WITH MY PENCIL. Stored in the real world. Kind of like…my $20 bills would be….

You know….gonna start hoarding gold coins. F it.

Finished my 2020 P/L today along with my weekly P/L. Needed to finalize 2020 tax planning. Always a fun Saturday when taxes are involved. Plus did some crypto trades today (24/7…yay…sonofa…)

Did well in 2020. But I think a blind monkey just banging on his keyboard could have made money this year. But I’m very thankful to have done as well as I did. Of course, now I am convinced of a market crash – like everyone – which is why it won’t happen quite yet I suppose. But need to stay on my toes. This week beat my 2nd best week last year by $90 (realized trades) – lol. I’ll take it. Did a LOT of trades. My long term positions did well for the most part. I did sell some $TSLA because it’s just. so . high.

Supposedly, the next 2 weeks are traditionally awful (although I have not looked up those stats.) And monthly opex is Friday and that always seems to mess with stuff. So we’ll see how it goes. Add a few crypto stock plays in AH on Friday on a hunch – hoping I’m not smacked upside the head on those.

Crypto trading is fun. Although only doing small trades. I still had my BTC, ETH, LTC and XRP from 2017 buys. All that is in cold storage. HODL! Luckily, I also started building a trading position in 2018 in BTC and ETH after the crash so I sold a 1/3 portion of that BTC this week to free up some trading cash. And have been buying BCH and OXT. Just sold all of my BCH for a nice win. Adding to OXT here.

Sadly, I should have been adding a lot more to my ETH. Seems like it can do well % wise this year if the crypto run continues.