Remember the Beanie Baby fad? How about Avon bottle collections? Both were advertised to increase in value. Consumers scooped them up as soon as a new style hit the market and their “investments” were left almost worthless and hard to resell even at rummage sales and swap meets
Beanie Babies were stuffed animals created by Ty Inc in 1993. The idea was, the more you own, the more wealth you will have later. I personally knew a woman who amassed over 500 Beanies for her daughter’s college fund. Beanies cost around $7 each so she had spent over $3500 before taxes and that didn’t include what she paid for nifty plastic cases and tag protectors.
My mother had a small Avon bottle collection. She didn’t buy them as an investment, she bought them for my sister and I as gifts. As a teenager, I liked getting them because they were often filled with perfume. As of this writing, Avon bottles are just now making a come back. Check those sheds and attics!
The crypto currency world is really not much different in some respects. Since the inception of Bitcoin in 2009, and its epoch in 2017 when it reached a value of over $17,500, other versions of crypto have emerged as FOMO cryptos- new versions of a crypto currency created simply for fear of missing out on the action created by Bitcoin in 2017. Here is a quick look at a few of the more obscure forms of crypto your likely to never own (unless you have a closet full of Beanie Babies.)
Coinye: This one was dead on arrival after Kayne West filed a successful lawsuit against the makers. Most defendants were John and Jane Does since they never bothered to respond to the lawsuit.
Unobtanium: Hails itself as the platinum version of Bitcoin. Mined on the moons of the fictional Pandora, its claim of increasing in value is tied to production: Only 250,000 coins over the next 300 years. Who is going to be alive in 100 years? I won’t even be alive in 30 years. The concept and advertising has perked my interest though and I might just look in to this one.
Cryptokitties: If you liked (or still like) Beanie Babies, you might want to take a look at Cryptokitties. This crypto, more of a fad than anything else, has a small following. With it, you can buy non tangible Cryptokitties that you can collect, take care of, and breed. If you like kitties but are put off by the thought of cleaning litter boxes, then this might interest you.
President Johnson Coin: There is not much to be said about this one except that it had a high of about .40 cent USD and is not worth(less) at about .0005 cents. It operates on the Omni platform and the link to the GARY website seemed fishy so I didn’t enter. There are 57,968,072,167 GARY in existence.
Selfiecoin: The Wallet Investors says that SLFI is a BAD 1 year investment. With such a low market cap of 1, 925 (as of this writing), the price can be easily manipulated. Perhaps the current .000085 USD value could be manipulated to oblivion. Go ahead, take a chance.
Fonziecoin: The FONZ was back for a short minute, only this one was not as cool, it didn’t wear a leather jacket, and the girls weren’t hanging off it’s shoulder. In fact, this FONZ died at .001221 USD. Someone hit the jukebox.
If you read this far, I would like to thank you for your time and consideration. I hope you enjoyed my article enough to leave a tip. There are other ponzi type crypto schemes out there. Be aware of what you are putting your hard earned money in to. Don’t just give it away to the newest fad or over hyped idea to come along. Practice DUE DILIGENCE and have a profitable day!