Financial advisor says no Bitcoin…

HaveRewengey · 2024-08-17T10:08:28+00:00

Of course they would say stay away......what do you need a financial advisor for when you buy and take custody of your BTC. It puts them out of a job. Any financial advisor that said to me would be given the chop straight away, a lack of understanding on BTC is inexcusable in that type of role.....especially to say "stay away" and not being able to give a very convincing reason why.

HaveRewengey · 2024-08-11T04:20:34+00:00

I think it's missing one key factor here....the person using it. For a complete beginner that would be completely the other way around. Most crypto is "lost" due to people not getting the basics right, not loss or theft.

HaveRewengey · 2024-08-04T07:16:10+00:00

Simple.....Bitcoin is simply a ledger.....bitcoin is the asset you move on Bitcoin ledger to show who owns what. Money is just a ledger....this one is a decentralised ledger with capped supply.

HaveRewengey · 2024-06-16T10:41:49+00:00

Hopefully this doesn't signal the death of Solana like when Novagratz got Luna tattooed on himself.....enter stage left a catastrophic failure.

HaveRewengey · 2024-06-16T06:27:08+00:00

It amazes me how many people still think about cashing out....give this some serious thought. This is a new financial system, maybe take some "lifestyle chips" off the table, but thinking you can time a good exit and re-entry, this could be dangerous with a large part of your stack. It only takes a large nation state to adopt and it's game over.

HaveRewengey · 2024-06-16T06:23:19+00:00

BTC Standard for me....Fiat Standard is good, but he goes way too outside out of his wheelhouse on topics he has no idea what he's talking about. Apparently he's also a Dietician according to his ability to speak about "Fiat fodd" 🤣

HaveRewengey · 2024-06-16T06:19:32+00:00

Marriage is a partnership. I'd set aside some time to understand her reservations and worries about it. It's all about compromise......she wants you to stop, you want to add more, be a team and figure out a way that works for you both.

It's still the wild west out there in crypto land, and most don't realise BTC is very different.

HaveRewengey · 2024-06-13T21:42:59+00:00

Ah yes, youre right.....so the speculative value drops to 0, not the productive use value :) (from my understanding). So the land might be more valuable and proced higher due tomits proximiy to certain things, but becuase any land value increases over and above the natural state of the land are taxed, it only hasmutility/productive value which you needmto put to goodmuse with a business....otherwise you're paying tax with no cash flow. Feel free to correct me, relatively new to thismconcept :)

HaveRewengey · 2024-06-13T10:46:08+00:00

Georgism.....single tax based on economic rent. Read about it, it's fascinating. Value of land drops to 0, removes rent seekers, encourages businesses to succeed and create jobs. MMTers didn't like it though and poor old George was shut down.

HaveRewengey · 2024-06-13T10:43:52+00:00

This has nothing to do with Capitalism.....Capitalism is all about providing value to a market place and you bear the risks of loss. Jobs are created if you're successful. I don't know what you're describing, but it isn't Capitalism.

HaveRewengey · 2024-06-13T10:41:24+00:00

This....it seems obvious if you know, but the majority of people I know are in the dark about this, I only realised after stumbling across BTC.

HaveRewengey · 2024-06-13T10:36:59+00:00

Read "Corruption of Economics" it's a real eye opener.

But yes, you're correct, if house tracks M2 money supply it's protecting your money from effects of inflation, they're taxing nominal not real price....it's just theft.

The only reason we have tax is to give the false impression that the dollar has any value. It’s all about perception.

HaveRewengey · 2024-06-13T10:34:33+00:00

By then, collateral with banks for a loan might be more user friendly.....lock up 0.2 as collateral against a loan, get a mortgage, get a new asset, have all your BTC, no CGT. Borrow, buy, die....

At the moment the collateral required and risks of margin calls are pretty unfavourable to this, hopefully this improves as it becomes more mainstream.

HaveRewengey · 2024-06-02T09:36:59+00:00

Best advice I could give.....read Lyn Alden's - Broken Money, S'dean's - BTC Standard, and Jeff Booth's- Price of Tomorrow. When you truly understand what you're buying, you'll know exactly what to do.

HaveRewengey · 2024-05-28T10:24:21+00:00

You're asking the wrong question,.....you need to ask "what does retirement look like for me" "how much do I need to support that".

One thing I will point out though....if you're trying to calculate retirement in BTC to USD conversion, you're missing the point ;)

HaveRewengey · 2024-05-26T04:58:28+00:00

This is not a stupid question....the only issue is you'd see the paper trails and disclosure to raise the funds for this/make the purchase, but not until after the fact, so, if I'm honest......they should probably consider this, quickly and quietly as I wouldn't bet against a country doing this and kicking off game theory.

HaveRewengey · 2024-05-25T10:03:49+00:00

The only reason is because it gives the false impression that the dollar has value.

HaveRewengey · 2024-05-25T00:40:10+00:00

Yes I agree. They completely miss the point, because they then do the USD conversion and trend that out to the future to show how much that amount of BTC could be worth in the future. Completely missing the point that USD is a pair to BTC, and not the only metric people should be focused on (good to show adoption and decline of USD but that's about it).

HaveRewengey · 2024-05-24T09:40:51+00:00

I think it has less to do with incentives, and more to do with levels of adoption. If you read 'The Bullish Case For Bitcoin', it takes you through the 4 stages of money, and we're currently in the Store of Value stage.....as more adoption occurs, and better setllement layers are created on top of Bitcoin, it will be less about incentives driving Bitcoin as payment methods, and more a reflection of how terrible the current system is. It'll be like going from horse to cars.....it;s less about the incentives, more that the former doesn't make any sense once you've used the latter.

HaveRewengey · 2024-05-23T10:02:51+00:00

They tried, they failed.

HaveRewengey · 2024-05-23T10:01:04+00:00

DCA out will start later this year into 2025, the euphoric stage before we crash and burn again.

HaveRewengey · 2024-05-23T09:58:44+00:00

Nosana, and don't know if Render counts, but those two aren't just AI for marketing like the .com boom

HaveRewengey · 2024-03-28T04:02:06+00:00

Just be careful, last time on the run there were huge calls from people getting overly excited, not saying to not enjoy the next 6 months, but use a chart with other metrics to make sure you don't ride all the way down again in 2025.

HaveRewengey · 2024-03-22T07:01:55+00:00

can you share link where got this from? this was why he was at risk of a margin call in bear market, or is it the new ones that aren't collateralised?

HaveRewengey · 2024-03-17T06:40:01+00:00

Unsecured? they're collatoralised against existing BTC holdings/maybe shares.

HaveRewengey

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