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Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

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21–30 of 222 posts

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

#21
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.

You're assuming he doesn't have permission, or that the coins aren't going to the company itself.

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

#22

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.

Why not just buy ETFs?

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

#23
post #19
post #5

Earlier quoted context omitted.

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

Ethereum, Zcash, etc [0]. Bitcoin definitely would not be.

[0] https://whattomine.com

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

#24

Earlier quoted context omitted.

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

Why not just buy ETFs?

Vanguard sells the very best ETFs (that are simply additional share classes of their mutual funds) exactly because they are so focused on indexing.

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

#25

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.)

Perception. Big money tend to be conservative. Crypto is the very definition of volatile in their eyes.

So yes, fidelity may not mix the two, but Fidelity is "losing focus" in their eyes.

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

#28
post #26

I like that the post mentions she's mined 200,000 Satoshis. Is this some kind of Bitcoin Shibboleth? I had to google it. It's about $8.

1 Satoshi = 0.00000001 BTC (10^-8 BTC)

It represents the smallest fraction of 1 bitcoin you can use as an amount in a transaction, so they are the smallest (indivisible) units.

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