Investing in Bitcoin as side-income for game collecting

We’ve talked about tons of ways of making an extra buck to buy that one game you need. But we haven’t really talked much about Bitcoin and cryptocurrency. Now, I want to make it clear, this is not financial advise and any investment carries risk. Cryptocurrencies are notoriously risky to invest on, so don’t go around blaming me if your savings go up in smoke when the market goes south! With that out of the way, let’s get cracking.

I’ve been studying investment opportunities for a while, last month I started a cryptocurrency portfolio (that is to say, an array of investments into different cryptocurrencies). There are a few reasons why I’ve done this, but I want to emphasize this again: investing is risky. Investing in cryptocurrencies is even riskier. In fact, whenever I speak to my wife’s family about it, her mom says it’s basically like playing the lotto: gambling. There’s a link between lotto and videogames, of course, and gambling in general, as you can see by how Lottoland explores the history of video games. But I digress. I want to talk to you about why I decided to put my money where my mouth is, and invest in crypto as an extra source of income.

THE TWEET

Despite the fact that I’ve studied the market over a period of time, as well as investing in general, and despite the fact that I have a personal crypto portfolio, it was a tweet by Dr. James Todaro, co-founder of the MedX protocol, that inspired this article:

You see, one of the biggest knocks against investing in general and crypto in particular is that “it’s too volatile” and that it requires a lot of effort and research, as well as a sizeable upfront investment. While most of that is true, particularly when investing in stocks, the story with crypto, and Bitcoin in particular, is different.

According to Dr. Todaro’s graph, simply investing $1 in Bitcoin every day since 2015 would net you over US$22.000, with an investment of less than US$2000. That’s a pretty remarkable return on investment, and to give you context, that’s better than the hottest stocks on the market, including Tesla, Apple and Google (not to mention you cannot, in most countries, invest a single dollar a day in a stock).

I could be wrong, but last time I checked, you could buy a lot of videogames for US$22 grand.

WILL IT CONTINUE?

I know, I know. “But Marcos,” I hear you ask, “the crypto bubble is dead! Bitcoin is dead! It’s not the same anymore! I cannot make that kind of return if I start today!”. Maybe. But the truth is, Bitcoin is approaching a huge event in its lifecycle. The halving, as it is known, basically halves the reward obtained for “mining” it, which means each coin moving forward will be twice as hard to make. And rarity, my friends, is quite the market driver. In fact, a lot of analysts are expecting the cryptocurrency to fly above US$20.000 this year alone. The price today is US$9230 (or thereabouts, depending on where you live and the time of day). That means that, if analysts are correct (and that’s a big “if”), every dollar you deposit today will double in 12 months.

Now, I want to be clear again: it’s not a sure thing. It could go up as easily as down.

WHAT WILL I DO?

I cannot tell you what to do with your money, and I don’t want to! I don’t want to be responsible for that. But I can tell you that I’ll be continuing to invest in cryptocurrencies, both in the short and the long term. Beyond their potential profitability, I really like the philosophy behind blockchain. I think banks and governments have been in charge of our wealth for far too long, and the opportunity for the general public to use a digital, open-source cryptocurrency that is independent of the whims of governments and banks (particularly in totalitarian regimes) greatly appeals to me on a moral level.

Stay tuned to this space for updates regarding my investment in Bitcoin and other cryptocurrencies. 

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About Marcos Codas 320 Articles
Lover of portable gaming and horror cinema. Indie filmmaker and game developer. Multimedia producer. Born in Paraguay, raised in Canada. Huge fan of "The Blair Witch Project", and "Sonic 3D Blast". Deputy head at Vita Player and its parent organization, Infinite Frontiers.Like what I do? Donate a coffee: https://www.paypal.me/marcoscodas