Topic: Vitalik Buterin's Financial Advice - page 3. (Read 552 times)

what happens to earning? One has to earn first before the rest of this ones can come into play.  I believe that it's necessary first of all to create a consistent streams of income by making the right investment at the early years of your life.

These are all good but for me, the best way to remain financially stable is to invest in a system that regularly brings money to you without you necessarily getting involved in the system. Like you can just buy a vehicle for others to be using for Uber in your area while some commission is given to you on a regular, that way, you are certain that every week, you will be expecting something even If you are not working. This is not just associated with Uber but also any other thing that can allow you to become a passive partner to the business while you continue earning your passive income

Vitalik Buterin should have rather said, "Look for some unique concept or idea that you can copy and then tweak it to look like your idea and then market it"

Also, start calling it one thing (Example : ETH is a smart contract centered platform) and then when the biggest competition are struggling with congestion.... do a 180 and start marketing your technology as "Currency of choice"

Vitalik Buterin is an opportunist and he can spin on a Penny, if the money is good.

he has hopes of SEC approving eth etf in summer, so as main guy of ethereum he cant go full elon, he has to present rational, safe investment advice if he wants to prove eth is governed by him safely to appease SEC decision makers that he isnt a whale baiting market manipulator or going to excite the network with unpredictable code changes

Be boring? Meaning that it would make you not see it too much or just let it do its thing with the market? I believe that is how to make it boring. Probably the surest thing that you could do with your balance is to just HODL it or something.

Diversify makes it possible to mitigate risks so you could really take advantage of the market.

I didn’t know Vitalik likes to give out advice. 

agreed with preventing from having too much leverage some people are so hellbent in trying to increase that profit figure into another level but they also seem to forget that the usually profit might turn into massive loss with high leverage even more so with the leverage reaching 25x its basically just trying to give their money to whales that way.
just keep trading with spot its already profitable enough, worst case scenario if it went down it can be hold for long time to wait until the price recovers back.
overall solid advice from him, I personally have implemented all those things and have been seeing good results idk with other people but overall the most significant advice is to never trade with too much of a leverage.

This is as smart as any financial guy could be when providing suggestions and tips to a larger audience of possibly diverse risk capabilities. The fact that he made sure to provide profitable but still "risk-free" financial tips especially when most of us here would go degen on the next crypto bull craze may not sound so great, but for someone who's just learning the ropes in the crypto industry, this is a golden nugget that they could use to start off their journey.

Had I known about this in the past, I probably wouldn't have to lose all my earnings in the first profitable bull run I've been in. All I really had in mind back then was money and making sure that I make the most out of it, so I banked on all the risks without knowing if they are even worthy at the end. Of course I lost all of my earnings and even had me thinking if crypto is really for me. Eventually I came around and found that I would be more smart and calculated about the risks that I pose myself to so I don't end up with zero bucks on my bank account.

Thus far, employing Vitalik's tips without even knowing about them in the first place allowed me to not only take profits but also secure them and ensure that I don't lose my money willy-nilly. I'm far from a noobie but yeah, trust me when I say it works really well.

In general, sounds like good advice to me. Diversification, overall, makes sense, especially if we're talking about having very different assets, being involved in very different markets, just in case one (or some) of them crash. Saving money is very reasonable advice, although I don't think it should be done 'no matter what'. If you struggle with saving money for objective reasons (like barely making ends meet), you shouldn't prioritise savings above mental and physical health. As for being boring about most portfolio, I guess he means that investments should be relatively safe, which is also reasonable. And the last one makes sense to me as well, primarily because I think people should borrow money to make investments at all.

funny part of ethereum is
by moving to PoS their minting cost went from ~$900/coin to well under $75 a coin. meaning their current price is SPECULATING at a premium
PoW price was $1300 =1.45x value-premium
PoW price is $2500=33x value-premium

other funny thing is ethereums market was independent(pre 2021) with different utility and sentiment causing ethereums price market to differ and be non recognisable compared to bitcoin market wiggles

but notice when things changed and ethereum just became a play child of bitcoin traders, where ethereum just shadow traces and copies bitcoin market wiggles 95%+ of the time
[btc-eth chart]
independent wiggles                 pegged to btc wiggles


yep when ethereum-bitcoin market became stable(may 2021) was like ethereum trying to peg to bitcoin prices at a shortened range
if ethereum was independent with its own community of traders, trading on purely the sentiments of ethereum utility/desire.. the peg to bitcoin would not be so narrow.
things changed after May 2021 and ethereum lost the independent war of utility

Maybe he actually wants to say that, but he doesn't use those words literally, because then he might admit that his project is "successful" only for the reason that the current circulating supply of that shitcoin is x10 higher, and that's why it holds the second place on the list of cryptocurrencies, so it seems that this coin has some value, even though this position is only a matter of manipulation through the marketcap.

With all that, does anyone agree that he made something better than Bitcoin, which he personally compared to a pocket calculator?


Are you referring to the possibility that everyone can create their own token on his smartphone network and sell it to others as a new ultimate solution? All this became even more convincing after they replaced POW with POS, so now they boast that they do not pollute the environment like Bitcoin, which consumes even 0.2% of the total amount of electricity.

It's easy to pretend to be a genius with billions in his pocket, but Vitalik will never be even close to Satoshi, regardless of the fact that he announced that he would retire and leave everything to others.

Everyone has their own opinions but I don't consider Ethereum a shit coin. and it is not because Ethereum is a valuable coin next to Bitcoin but because it has some excellent utilities that are very useful for people within the cryptocurrency sector,
about his financial advice, I am not sure if he was serious or being sarcastic about Bill Gates and Warren buffet.

Basically what everyone who aspires to be financially free does even without coming from a genius like him. I strongly believe in diversification, the idea of not putting all our eggs in one basket is very important, especially with high volatility assets. I doubt there is anyone out there who doesn't save for a rainy day, it is the only way to address any unexpected future occurrences. 

Be boring with your portfolio, in this day and time where things change so fast, you would want to be active with your portfolio to avoid being left behind.

Basically the only advice Vitalik should give others is to "create a centralized premined shitcoin by copying the code and ideas from Bitcoin and then get lucky as people buy into your scam". The rest like talking about "diversification" and stuff is just buzzwords he uses to look intelligence.

       -   There is nothing wrong with the reminders and advice he mentioned; in fact, there is truth in what Vitalik Buterin said, especially the last time he mentioned leverage. There are too many people who make mistakes and take risks in leveraging. Don't let other investors imitate those they only watch on YouTube or in videos.

They should learn to research because they have also worked hard for their money, and they will appreciate it instead of just wasting it or gambling on something they have no idea or knowledge about.

It is completely stupid that you post such basic advice on a forum, and it is even more stupid that the same advice comes from someone who is supposed to be intelligent, but actually turns out to be a classic attention-seeking troll.

---

Who does this advice apply to? Maybe people who work 8 hours a day, 6 days a week and at the end of the month get a salary that is not enough to cover the expenses of 20 days of life? Vitalik, like all those shitcoin creators, has definitely accumulated a lot of money and can enjoy his financial freedom - which is very easy if you have an altcoin that is premined and has unlimited max supply.

These tips are probably familiar to many, even a beginner, the golden rules of simplicity and safety of their assets. Most importantly, he emphasized the importance of diversification, which I also think is very correct. These tips are a reminder that in finance, stability and simplicity are often the key to long-term success.

This is the most basic and generic financial advice I've ever seen. Most forum members already know everything about diversification and NOT to use leverage in cryptocurrency trading. I don't know why Vitalik Buterin is posting such generic BS. Does he want to turn into the new Robert Kiyosaki?
Is he about to start selling books and courses about "achieving financial freedom"?
Most crypto investors aren't diversifying their portfolio. Having both Bitcoin and altcoins isn't actual diversification.
I agree that saving is important, but having a bigger income is way more important.
Making 1K per month and saving 100 is way worse than making 10K per month and saving 2K.

The advice may not seem to be too out of the ordinary but it is the correct way to go about it, diversification can protect you from a crash in a single asset, saving is indispensable as having more money saved allows you way more flexibility than a person that does not have that money saved, investing in good assets avoids nasty surprises and avoiding leverage is a good practice as well, the only issue is that someone following that advice will not make a lot of money, and it will be the main reason newbies may choose to not follow that advice.

I didn’t see anything unusual in this financial advice from Vitalik Buterin. I don’t think that, in principle, these tips can contain radically unusual and miraculous statements. Similar statements can be heard from many other more or less successful people. Therefore, I believe that there is no magical and easy way to become financially successful. It's all pretty boring.

I think these financial tips (simple and uncomplicated) offered by Vitalik Buterin are worth sticking to and will allow you to maintain your financial well-being.

I aspire to do the saving part, I spend almost all of my paycheck on bills and accessories for my tech so I don't have a lot of money or should I say chances to save leftover money from that paycheck, that's why I have a problem with saving, good thing though that I don't really have the impulse to spend my bitcoins for the frivolous stuff that I buy with the fiat that I'm getting. It's nice that Vitalik didn't emphasize diversification too much because I believe that he knows that too much diversification is bad for you and it's also a good reminder for many people to not take this advice too much as if these are the literal words of God, they might seem straightforward and obvious but it's hard to follow it to heart.

There is no magical with his financial advise. They are mostly common and we hear it typically from the usual financial advisors.

But he is right, in all of them I like what he said about have a boring portfolio. What boring is like? when you hear most people say and advise to buy the same thing, Bitcoin.

Some may take his advise to diversify, many might take it personally to the point that they will diversify with pump and dump coins which is wrong.