How I roll...

So in one of my earlier blogs, I extolled the value of namecoin (that it had infrastructure value, and not just speculation value).  So when all the bitcoin chaos began, I slid my little fraction of a bitcoin over into namecoin and parked it.  Just left it alone since I know Mondays are the absolute worst day for trading cryptocurrency.  (Run back the charts and have a look...  you'll see.  So if you move on a Monday, you get what you get).

Anyway, while the bitcoin charts look like this:

The namecoin chart looks like this:

There are differences between these 2 charts.  The first one is BTC/USD while the second is NMC/BTC.

So, my namecoins are gaining against the bitcoin, as bitcoin loses against the dollar (and I figured it would play out that way because worse case scenario, the people snatching up Namecoins are buying namespace in a cryptologically secured .bit domain).  But if you'll recall, I believe that bitcoin will rebound on Friday.  So the more bitcoins I can get with my namecoins before it flipflops is more for me.  :D

Of course I've only been moving things around between cryptocurrencies.  See, I got the "money" to buy my bitcoins by mining Doge coins.  So until I cash out, I've neither spent nor earned any money. Which means...  no taxes.  It's all virtual crap until it turns into dollars.  And its only when it becomes cash that its taxable income.  So as long as I keep working it and flipping it, it just fluff.  Funny money.

Anyway, I've spent about $5 in electricity mining Doge coins.  And my little portfolio of nonsense would have a cash out value of about $30. LOL  How hard do I work at it.  My computer mines while I sleep and while I work.  ANd I move my coins around through various currencies and back and forth between exchanges (doing a little arbitrage).  But in the end, just like I said at the very beginning - its all a game to me.

It really hasn't cost me much of anything, but it sure has been fun and educational.  Edutainment.

Oh, and since I brought up my old pal the Doge coin, how is it doing against the bitcoin?  Hmmm...

Also gaining against the bitcoin.  :D  Ah, good times.  Bitcoin gets all the news, makes people go ooo and ah...  or god damn it.  While the little piddly coins keep on keeping on.  But its like Public Enemy said way back in the '80s.  Don't believe the hype.