Topic: Vitalik Buterin's Financial Advice - page 4. (Read 623 times)
The replies to this tweet are the perfect example of why it was such a dumb idea to allow people to pay a fee to have their tweets boosted.
Regarding his advice, I think it is mostly common sense. Having a diversified portfolio is good if it includes Bitcoin, a few stocks and some real estate. If he meant it in the same sense that some altcoiners talk about diversification by investing in multiple cryptocurrencies then that is just dumb, but I doubt that's what he meant.
Saving is something which already widely promoted amongst Bitcoiners. Some people don't agree with just hodling your money and never touching it but it is a good plan if you are preparing for the future.
Having a boring portfolio is also good because the best performing investments over long time periods tend to be those that carry less risk.
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* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
I do agree that financial safety is freedom but for some people saving up to the point where they can cover multiple years of expenses will take decade. IMHO the minimum amount of this kind of emergency fund is to be enough for 6 months worth of our spending, multiple years is also good but I think it would be better to use that money to grow business.
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* Be boring with most of your portfolio.
I don't really get what does this phrase means, does boring portoflio means risk-free or should we buying only big name?
These are the one of the best financial advice which looks so simple yet very important I would say these are the pillars of financial freedom and growth. Especially for the crypto industry the last advice is the most important as most of us end up losing because of leverage as we continue to see huge liquidation everyday due to the high leverages. I had some financial advice but considering this one I feel my financial advice wont make sense because this one is gold.
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* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Don't use >2x leverage. Just don't.
* Don't use >2x leverage. Just don't.
I find these convincing that planning and investing is a process full of experience.
For those who have gone through it, they truly feel the risk/safety in any field, perfection is not absolute and the unpredictable is always present. I know that many people are overusing leverage causing the liquidation rate to be very high, a game where the creators know that the thresholds easily weed out those lacking knowledge with it. Anyway, no one can help you with personal investment, experience everything yourself to achieve the goal you have built.
Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:
What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:
Quote
Some actual financial advice:
* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.
Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.
What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.
I think Charlie Munger's soul found a new host.
Wtf "be boring" is supposed to mean?
You are Vitalik for fucks sake. You invented the biggest alt in the universe. You TOOK risk. Why is he talking like a boomer out of a sudden now?
Is there a malfunction in Vitalik's code? Somebody go and debug his brain.
The rules stated are similar to what I've been following. I'm on for diversification. I have diversified my savings on crypto and stocks. Real estate is in my list but they are too expensive for me at the moment. Among Crypto, I have a fair degree of diversification and I plan to do more as my investment increases.
Saving is where I'm struggling at the moment. The charm of crypto and stocks is so big that I can't have fiat in my saving account. I need to improve in it. Even my partner suggest me to have a good fiat saving but I'm afraid that inflation could decrease its value.
I'd say my portfolio is balanced. Not too boring, not too risky.
I'm not using leverage at the moment. Tried some leveraged grid trading and it didn't went well.
Saving is where I'm struggling at the moment. The charm of crypto and stocks is so big that I can't have fiat in my saving account. I need to improve in it. Even my partner suggest me to have a good fiat saving but I'm afraid that inflation could decrease its value.
I'd say my portfolio is balanced. Not too boring, not too risky.
I'm not using leverage at the moment. Tried some leveraged grid trading and it didn't went well.
the main rules..
buy low, sell high
dont sell at a loss
dont use funds you NEED short term
but only do it on markets where the underlying market has:
utility, purpose, community engagement
stood the lapse of time,
still has ongoing work/project goals
once selecting a few good assets
the best strategy is to look at a range of markets and "traffic light" / "rainbow" scale their market cycles (x year) low and high and mark where the current price sits..
green buy (buy most)
yellow hold (buy least sell least)
red sell (sell most)
buy low, sell high
dont sell at a loss
dont use funds you NEED short term
but only do it on markets where the underlying market has:
utility, purpose, community engagement
stood the lapse of time,
still has ongoing work/project goals
once selecting a few good assets
the best strategy is to look at a range of markets and "traffic light" / "rainbow" scale their market cycles (x year) low and high and mark where the current price sits..
green buy (buy most)
yellow hold (buy least sell least)
red sell (sell most)
I like the first and 2nd which I've been doing by myself too.
As long as diversification doesn't translate into buying altcoins and thinking there is a portfolio, they are good advices. Otherwise buying assets that depend on Bitcoin's price and get dumped each time bitcoin makes a move are terrible options for diversification and even for investment. 
I agree with all of the above. The advice is more of the defensive way to manage your finances. Although a risky approach could be more profitable in the end, a defensive approach is most probably safer and wiser. This applies not just in terms of investment but also in terms of handling finances in general.
Particularly about savings, however, it must be pointed out that it could be done in a number of ways. One doesn't have to keep money in the banks covering multiple years of expenses. Savings could be done in the form of investment. Saving money that's enough for half or a full year is probably enough. For the rest, one could save in the form of real estate properties, pieces of land in particular.
Particularly about savings, however, it must be pointed out that it could be done in a number of ways. One doesn't have to keep money in the banks covering multiple years of expenses. Savings could be done in the form of investment. Saving money that's enough for half or a full year is probably enough. For the rest, one could save in the form of real estate properties, pieces of land in particular.
The last advice is very important. But it is worth knowing that if you go 1x with coin margin and open 1x long or short position, that is 2x leverage.
If you trade stable coin margin like USDT or USDC margin and you open long possible with bitcoin at $40000 when it increased to all-time-high but fell back to $40000, thinking the price will continue to increase, bitcoin decreased further to $15550 and that means the money would have been liquidated.
Another disadvantage is the funding rate which may not favour those that open a long position. This is enough to discourage anyone to leave his coin on an exchange. Just buy the coin and send it to your wallet and leave the coin alone until the right time. Be boring with it, do not continuously checking it and thinking you should sell when all-time-high has not be gotten to.
Some people even regret that they wished to have hodl instead of trading. Take note that I am only referring to coins like bitcoin and not the shitcoins.
If you trade stable coin margin like USDT or USDC margin and you open long possible with bitcoin at $40000 when it increased to all-time-high but fell back to $40000, thinking the price will continue to increase, bitcoin decreased further to $15550 and that means the money would have been liquidated.
Another disadvantage is the funding rate which may not favour those that open a long position. This is enough to discourage anyone to leave his coin on an exchange. Just buy the coin and send it to your wallet and leave the coin alone until the right time. Be boring with it, do not continuously checking it and thinking you should sell when all-time-high has not be gotten to.
Some people even regret that they wished to have hodl instead of trading. Take note that I am only referring to coins like bitcoin and not the shitcoins.
Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:
What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:
Quote
Some actual financial advice:
* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.
Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.
What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.
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