Great portfolio at 32 y.o. Good on ya, mate.Thanks! Yep, live in Australia, and I am 32.
Great portfolio at 32 y.o. Good on ya, mate.Thanks! Yep, live in Australia, and I am 32.
True, but sometimes it is hard to get there until you can afford to leave your job or at least work at one that doesn't dominate your life. Lots of complexity there...different paths you can end up on due to family and financial status, neighborhood, life choices...that is a whole different thread.So far, wealth has been understood as financial assets in this post. Don't confuse it with happiness. For many, accumulating wealth is a great source of stress, and highly overrated. Quality of close relationships and engagement in meaningful activities is a more reliable investment in wealth that pays off in many ways.
So far, wealth has been understood as financial assets in this post. Don't confuse it with happiness. For many, accumulating wealth is a great source of stress, and highly overrated. Quality of close relationships and engagement in meaningful activities is a more reliable investment in wealth that pays off in many ways.
This is the most boomer take I've ever read.
Crypto has been around for over a decade, is being adopted by governments, banks and MNC's.
Odds are you know someone who never has to work again because of crypto.
If you're not bullish on crypto you're willfully ignorant.
Honestly, what does anyone have to lose by sharing what they are worth? People look up peoples net worth online all the time.
You can gain interest and teach others how you did it. That right there is worth whatever risk there is, although I really don't know what risk there is.....
Everything you need: https://bogleheads.org/
Have your identity stolen, and you will understand why you don't want to put yourself out there as a target.
Define "traders". From what I understand many traders are 100% cash by market close.
This is the most boomer take I've ever read.
Crypto has been around for over a decade, is being adopted by governments, banks and MNC's.
Odds are you know someone who never has to work again because of crypto.
If you're not bullish on crypto you're willfully ignorant.
So far, wealth has been understood as financial assets in this post. Don't confuse it with happiness. For many, accumulating wealth is a great source of stress, and highly overrated. Quality of close relationships and engagement in meaningful activities is a more reliable investment in wealth that pays off in many ways.
Back in the early days, bitcoin was going to revolutionize electronic settlement networks. If Joe wanted to pay Al, it would be easier/cheaper/(fill in the blank) to do so via the Bitcoin network than via ACH or SWIFT or Visa or whatever. Nowadays, crypto is mostly viewed as an asset that will appreciate in value.
These two are completely antithetical to each other.
If Joe thinks his bitcoins (or monero or whatever) are going to appreciate in value, he would much prefer to hold onto them, rather than to use them to pay Al. Conversely, to be useful for settling accounts, you need a token that's stable in value, not one which fluctuates wildly. (Don't bother bringing up "stablecoin(s)". Every single one of those is either a scam or a flop (or both). In any case, they are irrelevant to this discussion of crypto as an "investment" vehicle.)
The bottom line is the crypto (the investment vehicle) is an asset that will appreciate in value because --- at any given moment --- there are people who are willing to buy it in the expectation that it will rise further in value. Unlike gold or pork bellies, it's not actually useful for anything (especially not for its original ostensible purpose: a token for electronic settlement).
It will keep going up as long as there's another sucker who thinks it will go yet higher. Which, I guess, is why there are folks here eagerly talking it up to the "boomers".
The same is true of gold and many other assets. Holding crypto tokens isn't much different than holding stocks in terms of investment mechanics. At the end of the day there's market cap, total value locked, supply, adoption, growth, etc.Back in the early days, bitcoin was going to revolutionize electronic settlement networks. If Joe wanted to pay Al, it would be easier/cheaper/(fill in the blank) to do so via the Bitcoin network than via ACH or SWIFT or Visa or whatever. Nowadays, crypto is mostly viewed as an asset that will appreciate in value.
These two are completely antithetical to each other.
If Joe thinks his bitcoins (or monero or whatever) are going to appreciate in value, he would much prefer to hold onto them, rather than to use them to pay Al. Conversely, to be useful for settling accounts, you need a token that's stable in value, not one which fluctuates wildly. (Don't bother bringing up "stablecoin(s)". Every single one of those is either a scam or a flop (or both). In any case, they are irrelevant to this discussion of crypto as an "investment" vehicle.)
The bottom line is the crypto (the investment vehicle) is an asset that will appreciate in value because --- at any given moment --- there are people who are willing to buy it in the expectation that it will rise further in value. Unlike gold or pork bellies, it's not actually useful for anything (especially not for its original ostensible purpose: a token for electronic settlement).
It will keep going up as long as there's another sucker who thinks it will go yet higher. Which, I guess, is why there are folks here eagerly talking it up to the "boomers".
The same is true of gold and many other assets.
Holding crypto tokens isn't much different than holding stocks in terms of investment mechanics. At the end of the day there's market cap, total value locked, supply, adoption, growth, etc.
For crypto, your comments about use as currency is true for Bitcoin. It found its best use as a store of value. It will be interesting to see how El Salvador gets on with it as currency. It's rather extraordinary that 10 years ago people were buying ramen and pizza with it like it was play money. Fast forward to today and we see it's value and personally, I wouldn't spend an appreciating asset now that we know what it is.
However Bitcoin is far from the only crypto project. And, there are many more use cases than currency for crypto. Look up how Ethereum, Polkadot, or Solana work and you'll see. Digital art, smart contracts, decentralized lending and borrowing, and many other uses.
Two things to note on your list.https://www.coingecko.com/en/public...Unu8bwgvx8o-1631066113-0-gqNtZGzNAfujcnBszQlR
Those are only a fraction, since it is only public companies on that list.
This guy is missing the forest for the trees.
More for the rest of us, then. A lot of these folks are coming around as they learn more about it.
How is a picture like that going to increase the odds of that happening?
Also my identity theft insurance covers 100% of the cost and they do all of the work to fix identity theft issues. All I have to do is call them.
I still would prefer to not have to use it, but I'm not understanding the concern here. It's a picture of a number on a random internet site with very little identifiable information. The amount of work required to use that to steal my identity wouldn't be worth the effort for someone into stealing identities.
In less than two years, the club he got so excited about closed down as 722 millions fraud....
https://www.justice.gov/usao-nj/pr/three-men-arrested-722-million-cryptocurrency-fraud-scheme