How does a 9.3% savings account sound?

[VentAlarm]

This has been a great learning experience for me. Thankfully, I didn’t put a dime in crypto. I worried I was missing out and it truly was different this time. I’m a relatively young investor (mid 30s, ~500k investable assets). I feel very vindicated seeing what happened with FTX. When I hear more mature investors say that they’ve seen this before, I have always wondered how I would do. I’m glad I lived through this gold rush without it hurting the balance sheet and feel more confident that I’ll be able to say no again next time.

Thanks to all the older/regulars on here who give sage advice. It matters.

[Tim]

This has been a great learning experience for me. Thankfully, I didn’t put a dime in crypto. I worried I was missing out and it truly was different this time. I’m a relatively young investor (mid 30s, ~500k investable assets). I feel very vindicated seeing what happened with FTX. When I hear more mature investors say that they’ve seen this before, I have always wondered how I would do. I’m glad I lived through this gold rush without it hurting the balance sheet and feel more confident that I’ll be able to say no again next time.

Thanks to all the older/regulars on here who give sage advice. It matters.

It is actually pretty simple.

• If someone is selling you something, it is in their best interest, not yours.WALK AWAY, just say no, hard stop, run.
• If you need something, shop for value. Go find it.

https://www.indeed.com/career-advice...sales-approach Bitcoin is "conceptual selling",no doubt about it. Educate yourself on sales pitches. Doctors are notorious for falling for things they don't need.

There is nothing wrong with advertising an marketing or brand development. That is how you attract customers.

Do you "need" highly speculative investments?
Do you "need" to move large sums outside of government interference?
Those are the only two "needs" I can think of for holding Bitcoin.
Any other reason (feel free to expand) is uncompensated risk and the benefit of someone else.

[xraygoggles]

This has been a great learning experience for me. Thankfully, I didn’t put a dime in crypto. I worried I was missing out and it truly was different this time. I’m a relatively young investor (mid 30s, ~500k investable assets). I feel very vindicated seeing what happened with FTX. When I hear more mature investors say that they’ve seen this before, I have always wondered how I would do. I’m glad I lived through this gold rush without it hurting the balance sheet and feel more confident that I’ll be able to say no again next time.

Thanks to all the older/regulars on here who give sage advice. It matters.

This is not entirely true.

Anyone that bought any crypto before the bull run in 2020 made a LOT of money (early adopters made 8-10 figs, but that's very very few ofc; late adopters (after 2017) likely made 7-9 figs; noobs starting in 2020 made 6-7 figs just speculating in any coins) - assuming you sold some of it and not round-tripped back to the start.

[bovie]

This is not entirely true.

Anyone that bought any crypto before the bull run in 2020 made a LOT of money (early adopters made 8-10 figs, but that's very very few ofc; late adopters (after 2017) likely made 7-9 figs; noobs starting in 2020 made 6-7 figs just speculating in any coins) - assuming you sold some of it and not round-tripped back to the start.

This is not entirely true, either.

You’re assuming these people made fairly large investments to have returns of those sizes, despite the percentage returns.

I think the vast majority of people made quite small investments, relatively. Certainly not enough to yield 7-9 figure returns.

[VentAlarm]

This is not entirely true.

Anyone that bought any crypto before the bull run in 2020 made a LOT of money (early adopters made 8-10 figs, but that's very very few ofc; late adopters (after 2017) likely made 7-9 figs; noobs starting in 2020 made 6-7 figs just speculating in any coins) - assuming you sold some of it and not round-tripped back to the start.

That’s literally true of every bubble. I can’t predict the future so I don’t know when a bubble will pop, therefore, I index.

[Tangler]

That’s literally true of every bubble. I can’t predict the future so I don’t know when a bubble will pop, therefore, I index.

“Greater Fool”

If your success depends on selling before the wheels fall off, then you are looking for the greater fool.

Yes, indicative of a bubble.

I also considered investing in crypto and I am also happy I didn’t.

[Tangler]

Sounds risky.

👍🐶😜

[Tangler]

Yes.

Too good to be true.

You can have risk & high returns or safety, not both.

This time it is different?

Admittedly, I don’t understand it. So, even if it is true and “stable” i will wait on the sidelines and try to learn.

From 11/2021, A year later this sounds nice. Blind squirrel. Lucky perhaps, but I have learned, and been rewarded by avoiding investing in a risky asset that I don’t understand.

[Tim]

From 11/2021, A year later this sounds nice. Blind squirrel. Lucky perhaps, but I have learned, and been rewarded by avoiding investing in a risky asset that I don’t understand.

To take this back to the basic economics, supply vs demand determines price.
Supply - limited, this was a "story".
Demand - this was a "story" that may or may not ever play out.

One "fact" that was never considered was that there is absolutely nothing to prevent the "governments" or "deep pocket corporations" to become suppliers. Why pay "retail" when you can "manufacture" the product?
I have no doubt that "governments and deep pocket corporations" would pass up on economic opportunities.

[VentAlarm]

“Greater Fool”

If your success depends on selling before the wheels fall off, then you are looking for the greater fool.

Yes, indicative of a bubble.

I also considered investing in crypto and I am also happy I didn’t.

Yea, I don’t think a portfolio based around VT can ever blow up. I’ve heard of enough docs who have invested in a surgery center, or speculative stocks, or whatever else, to have learned I don’t want to do that. Shoot, Jim had someone on the podcast this week who did it. I see how a 5-10% allocation to something else may juice your returns without blowing up, but I’m not convinced I could put 10% of my portfolio and not let it take over my portfolio.

[jacoavlu]

To take this back to the basic economics, supply vs demand determines price.
Supply - limited, this was a "story".
Demand - this was a "story" that may or may not ever play out.

One "fact" that was never considered was that there is absolutely nothing to prevent the "governments" or "deep pocket corporations" to become suppliers. Why pay "retail" when you can "manufacture" the product?
I have no doubt that "governments and deep pocket corporations" would pass up on economic opportunities.

its kind of funny that we place value in these economic principles but then stop when it comes to our money and don't apply the same principles to the dollar

[fatlittlepig]

i think it's safe to say that the crypto decentralized finance space is dead. speaking for myself, lesson learned.

[jacoavlu]

i think it's safe to say that the crypto decentralized finance space is dead. speaking for myself, lesson learned.

actually, defi (like real defi) has been ok

blockfi isn't / wasn't defi

do you still have your bitcoin on robinhood?

[fatlittlepig]

i had an open mind regarding crypto and defi, but no longer. i'm thinking it's all a bunch of BS.

[The White Coat Investor]

[*]If someone is selling you something, it is in their best interest, not yours.WALK AWAY, just say no, hard stop, run.[*]If you need something, shop for value. Go find it.

Not quite true. Everything has to be sold. All that stuff you buy at Target had to be sold to Target by someone or you would have never known about it.

Disability insurance, new cars etc. all are sold by someone but they can still be a win/win.