June 13th, 2017

When you find a quarter of a million dollars in one of your old pockets

So I was catching up and drinking with one of my mates who is a hardcore IT guy around Christmas. We got pretty drunk and were remembering the fun we had as business angels and seed investors in a couple of start-ups in Asia (this is how we met and it worked out very well). He also told me about this new crypto currency called Ethereum that he thought was going to increase in value drastically and start catching up with Bitcoin soon for many reasons. Just for the fun of it, I bought 5,000 USD of it (and wrote the money off right away exactly as I usually do with the money I invest in start-ups), I just like this whole “the future is now” shit (whatever the fuck that means) even though I understand very little of it. He helped me buy it, it wasn't straightforward. Anyway, I bought it at about 7.50 USD a piece and forgot about it.

I talked to the guy on the phone today and after we were done he asked me if I saw what happened to my Ethereum position, I told him that I didn't and he suggested that I checked. I have just checked. It now went up from 7.50 USD to 380 USD, i.e. a 50-times increase in less than half a year and I now have over a quarter of a million dollars there, which is a nice little heap of spare change I guess.

I am not going to sell it because I believe it will go even higher (perhaps after a couple of dips) and I also want to have all the rollercoaster fun of going at least through one big dip wiping a lot of my gains before gaining even more (no pain, no gain). Another friend of mine just bought some (although psychologically it is very hard to buy into something just after such a drastic price increase but good traders have no problem with it) because he believes that some key events that are coming will let it catch up with Bitcoin even more (I don't get deep into that shit, I am just in it for the fun and I wrote off my initial investment anyway).

Or maybe I should cash in now and use part of it to build that observatory in Moldova that I was thinking about for a while? I want Moldovan boys and girls to start looking at the sky and dreaming about becoming astrophysicists not thinking about fucking horoscopes like most of them do now. Still thinking about it. Might just forget about it for another half a year and see what happens then.

Btw, people who bought it sometime in 2015 at 60 cents a piece have done well. Those who put 200 bucks in it then, now, just under two years later have 125K, those who put 20 bucks in it and forgot about it now have 12.5K. This whole "the future is now" shit gets pretty exciting sometimes, definitely more exciting than old school lottery.