I turned my bottles and cans into Bitcoin - 1 Year Later

By Suspect78 | Crypto and Thoughts | 13 Sep 2020


 

 

Just a little over a year a go I wrote an article on turning my recycling into Bitcoin.  I detailed how I converted that money into Bitcoin and how easy of a process it was to passively invest while being green.

 

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But how well did that investment do?

For the article, I turned my recycling into $28 worth of Bitcoin. Since then, it’s grown by about $10 to $38.50 - so was it a good investment?

If I’d left the $28 dollars in my bank account, its value, with an inflation rate of 1.7%, would be about $28.5. Additionally, interest on that amount at a rate of .01% would have earned me $.00285 - the verdict?

Bitcoin wins.

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But what if I had invested that $28 in a different Crypto instead of Bitcoin? The list below shows each coin's price at the same time I spent the original $28 - how much that would have bought me - the current price - and how much that amount would be worth now: 

 

Ethereum: $250 -> .112 -> $384 ->  $43

Total Gain + $15

 

BAT: $.32 -> 87.5 -> $.27 - > $23

Total Loss - $5

 

Dash: $144 -> .194 ->$79  -> $15

Total Loss - $18

 

Bitcoin Cash: $399 -> .07 -> $229 -> $16

Total Loss - $12

 

Litecoin: $115 -> .24  -> $50 -> $12

Total Loss - $16

 

Dogecoin: $.0031 -> 9032 -> $.0028 -> $25

Total Loss - $3


 

And what if I had invested in three of the most talked about stocks of this year? 

Tesla $40 -> .07 -> $372 -> $260

Total Gain + $232

 

Apple $47 -> .6 -> $112 -> $66

Total Gain + $38



Amazon $1804 -> .016 -> $3116 -> $49

Total Gain + $21

 

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What does it all mean? What do we take away from this exercise?

Investment is a gamble and no one can predict accurately what will happen. Case in point, Tesla.

Tesla’s meteoric rise in stock price this year was unexpected - FOMO drove the market and led to the price continuing to rise higher and higher - but if you bought in at the top, like I did, you lost money. I had hoped to ride the gains train, but lost out, cashed out and bought more crypto with what I had left.

With this example, the big take away in crypto investing is - we too, cannot accurately predict what will happen - but if you buy in solely to make a quick, large sum of money and cash out - you probably won’t.

It is better to Dollar Cost Average and buy over time (as with any investment) and build up your stake in your favorite project. Couple this with smart DeFi investing and you can effectively grow your “stake” even more.


 

 

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I personally choose to invest regularly in Dash, BAT, Dogecoin, Bitcoin, Ethereum, DAI and Tezos. I buy them for the hopeful monetary return, but also because I believe in the direction and value of each project. They all serve a unique purpose, and each are attempting to solve a larger problem in the world.

Some provide a great community, others a great product and others are developing their visionary ideas that will change the world. 

And when I "loose money" because I “bought at the wrong time” I know that it’s hedged against previous buy-ins so the loss is much less.

Had I done this with Tesla, I probably wouldn’t have lost as much as I did.

I continue to spend most of my free cash in Crypto because I know it is changing the world. And I continue to buy in to the various projects I listed above because I know that my adoption drives further adoption with in turn spurs even more adoption.

In fact, to date I have never cashed out my crypto for FIAT.


 

All this to say - however you invest in Crypto - invest in the projects you believe in. At worst, it was a bad investment - but at best you have helped to build the future. And, if you truly believe in the direction of the project - then the price becomes secondary to the roadmap goals and adoption of each coin. 

Since the original article I have expanded my recycling collection. I found a local place that accepts non-standard recycling including PET-2 plastic, all glass containers - and many other types of recyclable items - not just the California approved CRV items. 

I routinely take it in and convert it. It might not be much, but I'm still making more than if I'd just let it sit. 

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Suspect78
Suspect78

Suspect loves crypto.


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