A trade

 My involvement with crypto over the years has waned.

At one point, I was constantly looking for content ideas, researching and writing crypto related content. Now I have moved on for the most part. Many of my favorite Bitcoin and crypto related services are gone. 

But not this week. This week for the first time in possibly years, I conducted a crypto transaction. The transaction itself was simple, I bought ten bucks of LTC. Now, as I have said before. I don't think crypto itself is a good investment. It's like investing in checks or investing in a foreign currency. It's a method of exchange, not a cash flow producing asset. 

But I did this because I was paid 25 bucks in bitcoin. So spending 10 bucks for 35 bucks of crypto is a pretty good deal. 

I did this on this app called SoFi, it is quickly replacing Robinhood as my favorite investing app. They offer some great sign-up bonuses. Use my link to get $50 when you invest $1,000.

https://www.sofi.com/share/invest/2588771

I also did a post on The Frug Life recently reminiscing about some of the good times on this blog. You can read that post here. 

I don't think those old times are coming back anytime soon. But I still might have an adventure or two left in the crypto verse. 

Actually, I wrote this post quite a while ago. Funny enough though, that LTC I bought is now worth $40! So I made quite a bit off this trade.  Paypal also offered me a similar deal, where they gave me $25 to buy $25 of crypto. So for the first time, I actually bought ETH, my first holding of it. 

In short though, I’m always looking for deals to be had in the crypto space. They aren’t quite as common for me as they once were, but when they do happen. I will report on them here! On a side note, this particular deal has ended. Actually probably quite a while ago. Still Sofi has other deals that might be worth looking at.

Podcast: Not your Keys, not your Crypto and Bank Runs

With all the madness going on with FTX, I did do a podcast episode talking about bank runs and bank regulation. I think it is interesting to contrast it to the environment that crypto is regulated in, which is to say, there is much less regulation. Tradional finance instituions have much greater consumer protections. Make of that what you will, but it is important to understand that before you send your money somewhere.

QoinPro closed?

 I’m really out of the loop.

But a service I mentioned before,  QoinPro is now out of business. I’m retaining some contents from there website here in case it shuts down, but they state:

Where can I login?

Logging in to your account is no longer possible. QoinPro reached "End of Service" status and the decision to discontinue was made in 2019 after no viable business model could be found.

So if you had any money on there,  I believe it is gone at this point. They did  “QoinPro has discontinued all services, but all active accounts (with on-chain transactions, referrals or logins after June 13, 2018) have been maintained and transaction histories are available upon request. Other accounts have been purged.”

However, I think if you were in a situation like me, with just a handful of referrals, I didn’t have any really meaningful amount of crypto on there, just dust. So it is gone. I thought I read something about fees, etc. 

What are the storage fees for crypto

QoinPro cannot be maintained indefinitely. As of January 1, 2022 a storage fee of $12.50 USD (in the LTC equivalent) will be charged for the few accounts that still hold crypto, although they will be waived for the first few months (see below).

Fees will go up by $12.50 USD / month every first day of the calendar year.

So for me, this probably means I have nothing there.

https://docs.qoinpro.com/faq/account-access-and-closure

Video: FTX Bankruptcy Explained!

Well, as you might have heard, FTX was going to buy Voyager, but it looks like that won't be happening now. Here is a great video from one of my favorite youtubers on what is happening with FTX right now. 

Voyager and Celsius News

Truth be told, I'm behind, I'm way behind. I am so behind on crypto events, while I downloaded both the Voyager and Celsius apps, I didn't deposit any crypto with them. Which seems like a good thing given recent events.  But here are some recent events concerning both companies if it interests you.  As will be no surprise, I have no plans at this time to visit either of these businesses in person, as I once attempted in the past when a crypto company failed. 

If you want to know what has been keeping me busy, I am writing still, just not crypto news. It actually is a fantasy novel. Join my email list and you may even get some advance chapters from the book!

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LTT on Norton Crpyto

 I found another great crypto related video on YouTube. As crypto becomes more and more mainstream, I find less need to share this kind of content myself, but I enjoyed it enough I thought I would still share it here.

The Crypto Cruise Ship?

I recently read an article about a cruise ship tethered in the ocean, when you can live and spend your bitcoin. That's right, the "MS Satoshi" is setting sail, or more like, staying put. After taking a vacation recently on a cruise ship, the offer sounds very interesting to me!

According to the article, you can buy a cabin as a condo of sorts for $25,000 USD.  You will also have to buy a mean plan when you play to stay, as there are no cooking facilities in the rooms. Also, there will be a month "HOA" fee of sorts for the maintenance of the ship. 

Per the Article, "The company says the 804-foot, 777-cabin, 12-deck ship will be anchored 30 minutes from Panama City  in the placid waters of the Gulf of Panama." It sounds like the perfect climate for a home, although, I'm not sure how you might get there.

Also accounting to the article, "[The ship] promises three restaurants, a juice bar, two cafes, three bars, two pools, four whirlpools, a water park and more. Bitcoin will be accepted throughout the ship for all goods and services, alongside US dollars and other forms of payment."

Sounds like a blast!

Here is a link to the full article.

 https://cruiseradio.net/you-can-live-retire-cruise-ship-for-25000/