About two years ago I bought a few Bitcoins. I averaged into them around $400 and then promptly forgot about them. It was around the same time that I discovered Ethereum, liked it, and promptly forgot about it too.
I just remembered about both these two “currencies” when I started seeing tweets about new highs. Both Bitcoin and Ethereum are up on some heavy volatility. Not sure what’s driving it but my BTC purchase from a few years ago looks really smart! I can’t really take credit for it knowing that BTC was going to jump higher like it did, I was just lucky.
I stopped actively trading years ago and started picking and choosing things I like and making small bets. All I’m doing is spreading my risk around and keeping my hands on many different baskets with different eggs. I do keep a lazy eye on those baskets. :)
I’m really interested in Ethereum because of their ability to embed “smart contracts” into the blockchain. I really like the idea of creating a contract between parties and them making it into an artifact in the blockchain. This way, Ether (Ethereum’s coin), can be transferred when the requirements of the contract are met.
A perfect example is the transference of real estate. A mortgage lien can executed on a real estate asset when it pays the seller of the property and transfers ownership to the buyer. A record of the transaction will be right there on the blockchain.
So where did I start averaging into ETH? Around $100 per coin. I’ll probably load up over the course of the summer and then let it ride.