Cryptocurrencies are Mostly Junk, so Buy a Tungsten Cube

Cryptocurrencies are Mostly Junk, so Buy a Tungsten Cube

Inch tungsten cube 25 4mm 99 95 pure 1 2c791f74e2d14ef0d739de9ee1562e41
1-inch tungsten cube engraved with technical data

During the pandemic, I became lonely and sad. I coped—quite poorly—partially by obsessing about cryptocurrency. 

Crypto piqued my interest during the Gamestop and meme stock craze. People were making money, and I was missing out. So, I did what any isolated, miserable person would do—I delved headfirst into the insanity. 

Gain Money, Lose your Mind

If you try to buy cryptocurrency or figure out what it is all about, you will be overwhelmed. 

Blockchain technologyProof of work or proof of stake? How the !@#$ do I buy this stuff? Do I need to swap my dollars for a stablecoin? Um, what? You say I need to store this on a private wallet, and why is that a good thing exactly? I don’t even know where my regular wallet is! A seed phrase? Twenty words?!? I can barely remember my name! Also, what day of the week is it? Sweetie, our toddler, needs juice, and I need to memorize my seed phrase. Can you please get her juice??? 

But greed is a powerful motivator. 

I researched, obsessed, made spreadsheets, and befriended a well-known local cryptocurrency influencer. My fixation negatively impacted my life, but I learned an excessive amount. I gained money—about $6,000.

And I lost my mind.

Computer Programmers Dislike Cryptocurrency

A few months ago, I was playing Magic the Gathering. My teammate was a predictable computer programmer from the suburbs.

I said, “That’s cool that you work as a computer programmer; you must know what cryptos to buy!”

He scoffed.

He said he worked on blockchain technology­—cryptocurrency technology. He stated it was relatively simple, impractical, inefficient, and hype. I didn’t say much back. We lost the game, and I went home.

Why did a person who had worked with cryptocurrency technology express such disgust?

I delved into the mystery. I found an “anti-crypto” crowd on Twitter. Guess their profession?

Computer programming.

I dove headfirst into the programming subreddit and found the same sentiment! Computer programmers mocked cryptocurrency and called it a scam, a waste, a Ponzi scheme.

I became engrossed by this fascinating post. I read through the snarky, inflammatory, and vitriolic comments. I devoured the illuminating article entitled What Problems Blockchains Actually Solve. I then read An Engineer’s Hype-Free Observations on Web3. If you invest in cryptocurrency or are curious, read these pieces. 

Why do computer programmers disdain cryptocurrency? Many reasons, but one factor is that cryptocurrency and blockchains don’t seem as helpful as advocates claim. There are other explanations, and if you are curious, I encourage you to read through the comments on the subreddit.

Tungsten cube super heavy really 1 3291f4475a022d1e7cfc77b707ae2372
This 2-inch tungsten cube sold for $376 in February 2022.

Greed Obfuscates Facts

Understanding cryptocurrency is frustrating. Cryptocurrency websites and products are confusingopaquefull of jargon, and overly technical. Scams, controversies, and poorly produced products abound. Crypto advocates boost Web3, but no one can concisely explain Web3. Everyone talks about NFTs, but did you know that when you buy an NFT, you don’t purchase the image? Instead, you acquire a digital receipt on a blockchain. Legally, no one can assure that other people don’t use that image. I could put up the NFT you bought for $91.8 million on 50 billboards, and you couldn’t do anything.

Why did I not see this earlier?

Greed. Blinding, intoxicating avarice.

Your rational brain tells you—I feel confused; this doesn’t make sense. Your greed says—ignore it, let’s make money—buy! This mental battle is subtle, indiscernible, and unconscious.

The opaque allures. Mysteries seduce.

Nothing is All-Or-Nothing

First, the following is not investment advice. I work with disabled students and do freelance writing. Do you want my investment advice?

Hopefully not. But I have studied and thought about cryptocurrencies a tremendous amount. Here’s what I think.

Cryptocurrency messaging is often muddled, and intentions are confusing. However, that doesn’t mean cryptocurrencies are entirely useless.

I am not anti-cryptocurrency. I own a small amount, and I would buy more if I were not broke. Why?

Our world has become—and is becoming—more digital. Digital currencies aren’t going anywhere. Are young people more interested in digital monies or checkbooks? Digital monies. Do younger people prefer NFTs or baseball cards? NFTs. Deny this trend at your peril.

Furthermore, cryptocurrencies maintain use cases—just not many. I like projects with narrow use-cases; dull coins that keep it simple.

I also like uninteresting coins because of my understanding of human nature. People want to buy new and shiny things. We think that new technologies are superior—but that is false. The development of Bitcoin allowed people to create over 19,000 other cryptocurrencies. They are more contemporary, but are they better? In my opinion, generally no.

Finally, people often settle on solutions that lack an ideal product-market fit. Our society frequently uses mediocre legacy solutions because it’s too much work to change things. For example, JavaScript stinks—but programmers use it constantly because that’s what they’ve been doing for 25 years. Once people embed products and items in our society, they stick around—even if we don’t like it. That’s entropy.

So, I believe that cryptocurrencies aren’t completely junk—they’re mostly junk.

Now that we’ve established that, let’s turn to a funny quirk of cryptocurrency culture—collecting tungsten cubes.

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Um, What?

I am sure you know that tungsten is a precious metal with the symbol W and the atomic number 74. It is exceedingly heavy and dense and maintains a high melting and boiling point. We utilize tungsten in incandescent light bulb filaments, X-ray tubes, radiation shielding, and military projectiles. It is somewhat toxic and renders earthworms infertile when applied to them—so don’t throw a tungsten cube in your earthworm tank if you want worm babies.

Let’s Buy All the Tungsten

Why do cryptocurrency enthusiasts collect tungsten cubes?

No logical reason.

Some say Nic Carter—a prominent crypto influencer, not the Backstreet Boy—started the craze. He collected them for years, relishing their physicality, heaviness, and tactile qualities. He gifted them. Who wouldn’t want a 41-pound 4-inch tungsten cube as a gift?

So, he did what any good influencer does—he influenced people. He charmed them so much that he caused a global tungsten shortage. Whoops.

Why did cryptocurrency enthusiasts buy all the cubes up? Perhaps they wanted something tangible and physical to balance cryptocurrency, which is ethereal and virtual. Or maybe it was just FOMO—fear of missing out. Perchance they just wanted to share an experience with their community. Or perhaps it happened because they had too much money on their hands. My vote is the latter.

Midwest Tungsten Service has intelligent management, capitalizing by producing a Tungsten Cube NFT that sold for over $250,000. If you are rolling your eyes, know that whoever purchased the NFT has visiting rights to a 14-inch cube weighing 1,784 pounds! How could you resist?

If you seek a tungsten cube, purchase one from Midwest Tungsten Service—they are exceedingly reputable and sell a variety of sizes, such as 1-inch2-inches, and 3-inches. They also sell spheresdice, and coins. Think what you want of cryptocurrency culture, but no one can deny the power of a tungsten cube as a conversation piece.

HODL, WAGMI

As for me, I do not own a tungsten cube, nor do I plan to purchase one in the near term. When I have more money, I would consider buying a small one; I would also invest more in cryptocurrencies. But for now, finances are tight—we need to buy an overpriced stroller—so that will not occur. I will HODL, be mindful of my greed, and remind myself—WAGMI; we all gonna make it. 


Matthew Belsky is a higher education professional and map enthusiast who lives in Minneapolis. He works at a university disability services department where he supports students with mental health conditions, ADHD, and other disabilities. He holds degrees in Fine Art, Geography, and Education. He enjoys spending time with his family, hiking, traveling, mushroom hunting, and reading about history, geography, and macroeconomics.

WorthPoint—Discover. Value. Preserve.

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