advertisement


Crisis? What Crisis?

Imagine if the same logic was used for conventional savings products.

"Lost your life savings because of a run on the bank? You deserved to lose it."
"Pension gone because your employer fiddled the books? You deserved to lose it."

Neither of those things are relevant to self custodying your own bitcoin, in fact it is precisely both of those scenarios it prevents!

I'm not sure how folks can stand up for the banks and markets with a straight face after what we've seen over the last couple of decades.

Last time I checked bitcoin hasn't needed a government bail out or emergency loan, meanwhile if you're happy to leave your entire net worth in this shit show and sleep soundly at night, well...

 
Long term, I don’t really see a better option than equities and property. Of course, keep enough cash to prevent being a forced seller in a downturn but in the long run you should be good.
 
Long term, I don’t really see a better option than equities and property. Of course, keep enough cash to prevent being a forced seller in a downturn but in the long run you should be good.
Property is hard to offload and doesn't appreciate in all markets. The UK is unusual in this regard. Compare and contrast rural France and Italy where rural communities are shrinking and property depreciating. Equities have the benefit that yo u are investing in something that actively works to generate revenues. It's Capitalism 1.01. He who owns the means of production makes money without actually having to do the physical work. Of course the same applies to rented property and there's no guarantee that either will be profitable or grow in value.
 
Neither of those things are relevant to self custodying your own bitcoin, in fact it is precisely both of those scenarios it prevents!

I'm not sure how folks can stand up for the banks and markets with a straight face after what we've seen over the last couple of decades.

Last time I checked bitcoin hasn't needed a government bail out or emergency loan, meanwhile if you're happy to leave your entire net worth in this shit show and sleep soundly at night, well...


100% agree @matt j - Bitcoin very much a viable alternative to gold which has shown it can withstand volatility.

I read the other day that the Fed are all set to start another round of QE and pump 2 plus trillion into the US financial system :rolleyes:...
 
I'm not sure how folks can stand up for the banks and markets with a straight face after what we've seen over the last couple of decades.

I'n not really "standing up" for banks and markets. Simply as a saver trying to pick asset classes that are less volatile (I know.. wish me luck) and will hopefully give me enough return for my retirement.

I don't have any great religious fervour about any particular asset class.

My ideal would be a pension system that doesn't expose individuals to market risk but those days are sadly gone.

For me crypto still seems too volatile and poorly regulated for it to be my own choice for my retirement savings.

I'm also a little uncomfortable with an asset class that is so energy intensive.

I think I'm a few years older than you and my best earning days are behind me so by necessity I'm as much about wealth protection as capital growth.

YMMV and everyone will have a different level of risk they're happy with.
 
Property is hard to offload and doesn't appreciate in all markets. The UK is unusual in this regard. Compare and contrast rural France and Italy where rural communities are shrinking and property depreciating. Equities have the benefit that yo u are investing in something that actively works to generate revenues. It's Capitalism 1.01. He who owns the means of production makes money without actually having to do the physical work. Of course the same applies to rented property and there's no guarantee that either will be profitable or grow in value.

Exactly why you need to make sure you’re not a forced seller when things go wobbly (which they will every now and again). I don’t buy French property, only UK areas which are in demand. No guarantees of anything other than death I’m afraid!
 
I'n not really "standing up" for banks and markets. Simply as a saver trying to pick asset classes that are less volatile (I know.. wish me luck) and will hopefully give me enough return for my retirement.

I don't have any great religious fervour about any particular asset class.

My ideal would be a pension system that doesn't expose individuals to market risk but those days are sadly gone.

For me crypto still seems too volatile and poorly regulated for it to be my own choice for my retirement savings.

I'm also a little uncomfortable with an asset class that is so energy intensive.

I think I'm a few years older than you and my best earning days are behind me so by necessity I'm as much about wealth protection as capital growth.

YMMV and everyone will have a different level of risk they're happy with.

It's not for everyone, I don't claim it to be perfect or the answer to everything. The energy narrative has changed massively since China basically force quit all the Chinese coal burning mining farms, it's worth reading up about how it is run now compared to say 5 or more years ago which all the current arguments are based on.

For me I don't trust anything to do with banks and government where money is involved. I'd rather not play the game at all but that option doesn't realistically exist aside from become a mountain man living in a wood cabin eating squirrels.

Anyway it is all moot for me as I lost all my crypto in a boating accident, I just follow the market and make comment on it now.
 
On top of them selling millions in stock just prior to the collapse.

https://unusualwhales.com/news/nume...on-valley-bank-sivb-stock-before-the-collapse

Nothing shady at all.
This is the real issue as it was the cause of people trying to take out their deposits. The bank run made SVB temporarily illiquid, not insolvent (see Warren Mosler link above). The solution to the short term problem is the provide 100% guarantee to depositors or more sensibly re regulate riskier investment banks and shadow banking
 
F3A6GaD.jpg
 


advertisement


Back
Top