facebookIs there a cryptocurrency that you keep in your portfolio that doesn’t really make much financial sense but you do so anyway because you really like the project/Developers/use cases/brand logo etc? - Seedly

Cryotosensei

Blogger at diaperfinancingfund.blogspot.com

04 Sep 2021

Cryptocurrency

Is there a cryptocurrency that you keep in your portfolio that doesn’t really make much financial sense but you do so anyway because you really like the project/Developers/use cases/brand logo etc?

Investing is a matter of both heart and mind, so I’m curious to know how you reconcile the yin and yang

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Monero. Monero is a privacy centric cryptocurrency that has untraceable, fast and cheap transactions. It has been notoriously hard to crack till the point that the IRS is giving a $625,000 USD bounty for anyone who can crack Monero transactions.

I hold the coin solely on moral and political beliefs. I am a Libertarian, so freedom and privacy are two of the most important aspects of life to me. Monero embodies what cryptocurrencies are and strongly aligns with my values of privacy and keeping the government's prying eyes away from what private citizens do, which is why I hold a significant amount of Monero.

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This applies not only to crypto but stocks. Happens very often and it’s not healthy 😂

For me I have CLSK or CleanSpark, they’re a power grid optimisation software company that also owns Bitcoin miners. The idea of coupling power optimisation with Bitcoin mining was so ingenious to me that I’ll hold through every wave of volatility although financially it would make more sense to just buy a company that does 1 specific thing well.

For crypto there’s plenty. But most seem to turn out well. Like MINA, a blockchain project working on reducing blockchains from gigabytes to less than a few kilobytes. So amazing yet limited real world applications.

Often or not, I get better returns when I’m emotionless towards a stock or crypto. As I’ll relentlessly take profit or stop loss when necessary.

What works for me is to segregate such “passion” investments away from my main portfolio. And only buying “passion” investments with surplus cash. Similar to how some people have a “impulse fund” for misc. spending.

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Chris

04 Sep 2021

Owner and Writer at Tortoisemoney.com

Maybe not for the reasons you've mentioned haha but if you're familiar with the massive collapse of ...

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