Giving up on Mt. Gox.
After I lost 104 Bitcoins in the Mt. Gox disaster, I followed the instructions of the Japanese lawyers dealing with the bankruptcy: I gave them my email address and my mailing address, and I opened an account on the crypto exchange where some of my Bitcoins would be transferred if they could find any.
As nothing happened for several years, I became convinced I would not get anything back. I made my peace with it.
2016: New Investments in Cryptos.
In 2014, I started following a financial newsletter from the Palm Beach Research Group to help me with my stock market investments. I have never been really good in this area.
In October 2016, one of the writers of Palm Beach, Teeka Tiwari, started to recommend some crypto assets: Steem, Antshares, and DASH.
I bought 10,000 Antshares at US$0.07 each, spending only $700. Later, Antshares changed its name and became NEO, and its price went up to US$120, which is more than 1,700 times what I have paid for my 10,000 Antshares.
I don't remember how many DASHs I bought, but what I was mostly interested in was Steem.
I had tried to blog on another platform; but it was not easy for me to write, so it did not last long. I thought that blogging on Steemit, where you expect to get some cryptos from your posts would incite me to post regularly.
Between November 2016 and March 2017, I bought more than 120,000 Steems, spending around CAD$22,000.
Sometime in 2017, I sold some cryptos to get back all the money I had spent.
2018: Buying an Apartment with Help from Cryptos.
At the beginning of 2018, I sold some of my 10,000 NEO and got more than CAD$100,000. It has helped us to buy a nice apartment where we are now living: my Crypto-Condo.
Over the years, I bought different cryptos, following the recommendations of Teek Tiwary. Some went nowhere, but some were quite successful, for example BNB, originally called Binance Coin.
2021: Selling some of my Crypto Assets.
In 2021, as the total of my crypto assets was greater than CAD$1.5 million, I converted the equivalent of CAD$500,000 of cryptos to Bitcoins. I gave half of these Bitcoins to my 4 children and 5 grandchildren.
And I got around CAD$250,000 for myself.
Continue to Part 3
-- Vincent Celier
