17/04/2021
How many other Dads got rich today?
Here is a breakdown for ya old Boomers.. This Dad has got nothing but love for anyone that made money today off
I’ll never knock the hustle or the grind. Ever.
Just. Be. Careful.
Here’s some history about this Boomer:
All I care about is booze/drugs, ho**ers and crypto. I got so deep that Mom left me this past Xmas and I had to start all over. More on that in a little bit. I’ve had a few pages but they have all gotten shut down this is my latest attempt this year.
THIS DAD IS NOT A FINANCIAL EXPERT. THIS IS NOT FINANCIAL ADVICE: THIS IS TECHNOLOGY ADVICE.
It’s really easy to hate on because it really doesn’t have a purpose and is a “sh*tcoin” based off a meme. It was really cheap to get into (still is in the scheme of things).
But here is the thing about ANY currency: it relies on consumer confidence. The more and more people who believe that cryptos are the future (they are) will buy this coin, knowing that in a few years to a decade it will be accepted pretty much anywhere.
As much I hate and trash it (often), I believe it in 100% along with about 60% of other cryptos. The sole reason I believe in is because it seems as though the people have really chosen this to be their coin (with a little help from Elon, who all Dads should envy with his fake hair and young women) and that’s all it takes.
This is why Dad is concerned:
All weekend long, everyone is going to be buying and will be excited about their new investment. Then on Monday (more likely Wednesday), they will look at their portfolio and see that is has dropped by about 25% - 40%.
Why? Because close to a million people (like Dad) took YOUR money when we decided to take OUR profits on the we have had for months or years.
Then, everyone worried about potentially losing their whole investment will sell for less (Som**hing we never, never do). crashing not only but almost all cryptos.
And if you don’t believe me, Google BitCoin (BTC) 2018 crash.
Heres where I’m at:
On Jan 5th, 2021 I had to start all over with $200 of combined change I found in my house before the retraining order from Mom.
I have turned that into $6700 spending less time a day playing with it than YOU do on Facebook, that I can promise.
This went longer than intended so here are final points for the other Dads or Moms:
1. Research Blockchain, how and why BitCoin and other cryptos were started. It’s fascinating. Amazon has a great documentary about it.
2. Look into XLM, XRP, GRT, etc.and some really cool protocols (coins) that are working on some really cool stuff that’s going to change the world as we know it.
The ENTIRE crypto market is growing, so was bound to as well. The difference in my opinion between let’s say GRT and DOGE would be like Apple and Vtech; they both make phones, but one is a toy.
3. DON’T BUY ANY CRYPTOS on fu***ng ROBINHOOD! Same for PayPal, Cash App, WeBull, etc. Use an exchange with an actual digital wallet (where you store it). Using the above mentioned apps means YOU DON’T actually own the cryptos, and every time you buy or sell it’s going straight into that tax paperwork.
Look into: Coinbase, KuCoin, Crypto . Com or Voyager for the apps you should be doing this on. The fees vary, but they all have special perks and different things.
That’s all my friends. Make money. Get rich. 🚀 🚀 🚀 to the 🌙 💴 💰
- Your Drunk Ass Dad