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Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

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Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#11
post #10
post #9

I cannot imagine a headline that would make me more interested in investing with Vanguard.

0.005% lower expense ratios is what shifted my stuff from Fidelity to vanguard. Idk how much exposure they're putting into crypto currency based on this.

Come for the lower expense ratios, stay for the focus on running low cost indexes mutual funds, as opposed to experimenting with cryptocurrencies.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#12
post #10

Earlier quoted context omitted.

0.005% lower expense ratios is what shifted my stuff from Fidelity to vanguard. Idk how much exposure they're putting into crypto currency based on this.

Come for the lower expense ratios, stay for the focus on running low cost indexes mutual funds, as opposed to experimenting with cryptocurrencies.

What's wrong with experimenting with cryptocurrencies? It's not like they're taking away resources from their main business to blow on bitcoins.

(Though Vanguard is probably still a better choice regardless.)

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#13
post #3
post #2

Sure, if you have more of a kitty than many countries to play with, an army of lawyers and an IT department... have fun.

I have all the computers in our office mining crypto when we leave for the day. It is pretty easy to setup.

Whoo boy. If you aren't the owner, expect them to fire you and replace your paycheck with the tiny bit that you managed to mine.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#14

Earlier quoted context omitted.

Come for the lower expense ratios, stay for the focus on running low cost indexes mutual funds, as opposed to experimenting with cryptocurrencies.

What's wrong with experimenting with cryptocurrencies? It's not like they're taking away resources from their main business to blow on bitcoins. (Though Vanguard is probably still a better choice regardless.)

I want the CEO of my mutual fund company to be focused on how to index better, not on cryptocurrencies.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#17
post #3
post #2

Sure, if you have more of a kitty than many countries to play with, an army of lawyers and an IT department... have fun.

I have all the computers in our office mining crypto when we leave for the day. It is pretty easy to setup.

Just like people used to run SETI@home on their work networks after hours

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#18

Earlier quoted context omitted.

What's wrong with experimenting with cryptocurrencies? It's not like they're taking away resources from their main business to blow on bitcoins. (Though Vanguard is probably still a better choice regardless.)

I want the CEO of my mutual fund company to be focused on how to index better, not on cryptocurrencies.

God forbid they do both.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#19
post #5

Earlier quoted context omitted.

I'd love to know what the electricity cost is to do that versus their immediate market value. Are you mining lottery tickets or do they have immediate worth?

If you're mining with gpus, it's likely still worth it. I have a 1060 and a 1070, and it's definitely profitable even after electricity.

Which coins though? Can't imagine bitcoin is still possible to mine with a two card setup

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#20
post #3

Earlier quoted context omitted.

I have all the computers in our office mining crypto when we leave for the day. It is pretty easy to setup.

Whoo boy. If you aren't the owner, expect them to fire you and replace your paycheck with the tiny bit that you managed to mine.

I think you mean, plus an electricity bill.
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