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Personal Finance and Investing

modrepub

(3,855 posts)

2. Crypto Violates Basic Investing Principles

Reply to Tomconroy (Original post)

Fri Dec 3, 2021, 10:45 AM

Dec 2021

Rule of thumb is don't invest in anything you don't understand. And as a corollary, avoid investing in anything that cab drivers and the like seem to be pouring money into.

I've read articles of investors buying small power plants to run their data mining algorithms. It just seems very odd.

https://jamaica-gleaner.com/article/business/20210804/waste-coal-burning-plant-diversifies-crypto-mining

Not sure where this will go but the block-chain tech associated with crypto is something that may have a value in the future. Who knows.

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Highlight:

Charlie Munger thinks investing in Cryptocurrency is insane. [View all] Tomconroy Dec 2021 OP

Read this recently, though it didn't pierce the veil much for me, it's all still monolithic mystery chia Dec 2021 #1

Crypto Violates Basic Investing Principles modrepub Dec 2021 #2

With Cryto and MMT (Modern Monetary Theory) economics is in the "Mattrix" walkingman Dec 2021 #3

Charlie is right in terms of high risk and investing unwisely... RobertDevereaux Dec 2021 #4

How about a "bitcoin city"? hermetic Dec 2021 #5

Cryptos are nothing more than electronic tulips, IMO. DinahMoeHum Dec 2021 #6

Agreed. Tomconroy Dec 2021 #7

There are plenty of pie in the sky investments without going into crypto bucolic_frolic Dec 2021 #8