I follow the advice of "know what you are investing in" and don't blindly trust brokers to "advise" you.
Suze Orman/Dave Ramsey are decent free places to begin to learn about money (they are very conservative, it's doubtful either of them will ever say "invest in bitcoin") .
Most of the Economists that I respect and follow don't understand bitcoin.
It's going to be awhile before we get those perfectly blended specialists.
Suze Orman is a lesbian. How conservative can she be?
I hope you were being funnyDave Ramsey is conservative, but I remember him advising people to use a mneymarket account rather than a checking account. This burned a few people in 2008 when Lheman Brothers failed. It would have burned a heluva lot more if not for the bail-outs. The guy also has gone nakrupt in the past and advises people to pay off all debt, starting with the smallest, regardless of the interest rate. Debt free makes no sense when bitcoin goes up about 10000%/ year, inflation is running three percent and my mortgage interest rate is 4.5%. If I had followed his advice, I would have sold all my bitcoin to pay off loans and I'd have a net worth of about 20 grand instead of....much much more than that.
Do you think that all of the bitcoin rich know the fundamentals of managing their money?
To be fair I should disclose to being insolvent (since the humor in my picture/text line may not be apparent to everyone). As a r.e. broker during "that" time I was highly invested. My home, my career, investment properties any other investments went poof. If you are "all in bitcoin", good on ya but that is not the way to go for everyone. Would
I risk everything again? I've got nothing to lose right now.
Yeah, I was joking about Suze. The word "conservative" has so many meanings that it can be misleading. She is a dyke though, not that there's anything wrong with that.
Soooo, back to you being broke. I was too, but I maxed out my creditcards, and used dwolla to send the money to some magic trading card website in japan aaaand pooof! the market tanked ad I spent eighteen months looking like a dipshit before everyone realized how visionary and prescient I was to buy a krypt-o-currency. Sometimes it doesn't pay to be too far ahead of your time, but if you're right and you believe in yourself, you fucking hodl until you can tell em all to piss up a rope.
Look, the economy is going to tank again. None of the problems from "that time" have been fixed, only papered over. When the rot starts to show through again, the assholes in Washington are going to try to give the dying addict another shot of heroine (liquidity, whatever) and pray everything holds together until after the next election. Bitcoin is a credit default swap on the whole fucking ponziconomy. You may recall CDS investors were the only ones who did well in 2008 before the bail-out. it's a hedge, but if gold is a hedge horse, bitcoin is a hedge Lamborghini.
Orman and Ramsey are not economists. They are financial advisers, and mostly competent, but don't expect them to understand macroeconomics. It's not their field.
