After a few months of holding various crypto I have sold nearly all of it. I slightly want to say that coinbase didn’t help me with wanting to keep crypto. There were enough fees where any gains were instantly gone when actually trying to get money out. To be clear I put in about $7000 overall and I’m mostly cashed out. Cash value back wasn’t much more than $6000. Of course a lot of this is based on timing but I’ve watched the values move all over the road for virtually no real reason whatsoever.

A few weeks back I changed my strategy based on what I was seeing. Instead of having just a few different coins I purchased a smaller amount of many different coins. I read all the documentation available for the most part even though most of docs say things like “this hopes to” or “this aims to” and so on. Not very reassuring. If I buy Coke stock or even the latest drink out there I can get better data than anything I’ve seen about crypto. It is also sad reading article after article about creators saying they don’t want to be involved anymore – can’t be good.

I honestly might be a non-believer again. Not that I really believed in the first place. I would say that my believe is more educated now. I do believe that gains can be made but it is not much different than buying scratch tickets or wildly buying stock options. I don’t have nor would I put in large amounts of money to prove myself right or wrong. I’d much rather wager on a traditional stock or ETF. At least I can have some form of measurement.

Here are a few things I don’t understand….

1. Shiba Inu has trillions of coins and that’s a problem so people are throwing them away to potentially help increase the value by having less coins overall. There’s Dogecoin that has more value and less coins. Why wouldn’t big shots just decide that Shibu simply has too many coins and transfer everything to Dogecoin and leave Shiba behind? Why would burning coins ever make sense? A dollar can be printed and printed. When a new coin is created isn’t that basically the same?

2. Why would just Bitcoin not be enough? I can see the need or desire of lesser value coins just to avoid essentially walking around with $50,000 bills but if is all digital then what’s the difference?

3. There are many new digital assets, contracts, and more out there now. I’m having a lot of trouble understanding their initial value as well as current values. Who sets this value? There are wild ranging estimates of what it actually costs to perform transactions. Are the values at all based on the transactions? If so then why aren’t these values all absolutely the same? How could the costs change and why isn’t this heavily documented and a standard?

4. Banks don’t seem to be interested. I don’t like that because if cypto is the next best thing then banks should be begging to be the central hub. Maybe because they will make less profit? Maybe because hundreds of analysts know it won’t work?

5. The world is oddly public and private. The blockchain is advertised as the solution but no one had a clue the Quadriga guy was stealing. It’s public but it’s not. It’s private but it’s not.

I don’t know but not sure I’m going to play the game anymore. That’s what it is – a game. Sure money can be made and lost. I’d rather go to Las Vegas to make bets.