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Ask HN: What was your best passive income in 2020?
61–62 of 62 posts
Re: Ask HN: What was your best passive income in 2020?
#62I have talent in dev/code, but didn't use any of it. 2x Corona, short-time work, depression.. :( I'm fully open for any suggestions. It's not passive: I started investing into stocks and sold almost all for about 5% profit in total. I think many won't like it, but I used that money and invested into different cryptocurrencies. I ended up with about twice my total investment and on some days I earned more per day, tha…
May I ask why you perceive a cryptocurrency as an 'investment'?
Sure, that's a legitimate question and I appreciate it.
Important background: I'm a very early adopter of technologies and I'm genuinely curious.
First the terminology I used is wrong, it's not an investment, it's a mere speculation. Because the outcome is totally in the air. Right now there is not enough developer saturation in cryptocurrencies, which in my opinion is a crucial driver of industrial adoption. This may change, when the "safe/verified" development of smart-contracts and blockchain interoperability becomes easy for most developers. Transaction costs are a sign of technical debt. So there is no doubt that there will be many hardforks coming.
Context: My Professor assigned me the study of "Consensus Algorithms" and the implementation of these in 2009. That made me go into a very deep rabbit hole. And I stumbled over many technologies enabling cryptocurrencies, but came out at the book he was currently reading about "Cellular Automata". That made me awe nature and it's ingenuity.
I have wrongly been anti-commercial most of my life, that's why I intentionally missed bitcoin in 2010. Regardless of all the hype it's of no industrial use at the moment as long as there aren't good developers enabling it's application in the industry and at scale.
I unfortunately didn't have had a circle of people who invest, rather more those who sit at the bottom of the barrel. Waking up and taking my own finances serious took way too long.
Crypto is a speculation even though I invested almost all of my assets into it (€28k). I'm okay losing it, as long as I'm able to find a good job paying at least 2.7k net/month, which allows me to diversify my invests into less speculative assets.