crypto currency

[QuarterMillionMan]

If I retire today at 59 yrs old my pension would be $2600/month and with 22 yrs of service I’d pay 6% of $1000/month medical insurance. With 25 yrs 100% would be covered.

edit 12% (not 6%) for medical insurance.

[QuarterMillionMan]

20% cryptos, 15% precious metals, 20% cash, remaining in 457 large cap funds. Total $1 million.

[disneysteve]

$200,000 but not all bitcoin. I have 1.5 bitcoin, and growing.

I'm sure I've asked this before but what percentage of your portfolio is held in crypto and what's the allocation of the rest?

[QuarterMillionMan]

$200,000 but not all bitcoin. I have 1.5 bitcoin, and growing.

[LivingAlmostLarge]

QMM how much do you have?

[QuarterMillionMan]

Still stacking even at $117,500 per bitcoin.

[QuarterMillionMan]

A picture is a 1000 words.

[disneysteve]

Curious who here still thinks cryptos are a scam or tulip?

I've never thought they were a scam. I do not think they are an investment vehicle. I think they are a speculative purchase. I believe they are here to stay and their value will continue to be volatile for the foreseeable future. Until there is a safe, secure, tightly regulated market for them, I don't see crypto becoming a mainstream item. People aren't going to entrust their hard earned money to a bunch of computer code that can't be held in their hands and could be wiped out if they lose the "key". For them to become mainstream there also needs to be widespread acceptance by retailers and merchants with a simple interface for payment, comparable to handing someone a $20 bill or tapping a credit card. There needs to be insurance, like FDIC, and/or consumer protection built in, like credit cards.

[QuarterMillionMan]

Curious who here still thinks cryptos are a scam or tulip? I'm convinced good quality cryptos (bitcoin, XRP, Quant, etc) and not meme coins which are trash (ie, Shiba inu, Doge coin, Trump coin, yo-yo coin, etc) will replace the current financial system which is a scam and ponzi scheme. Every downturn in cryptos I stack more and more. During these downturns I buy $100 - $500 daily or more.

Edited to add in the trash pile i added Trump coin, yes it is trash just as much as Shiba inu or some yo-yo coin, IMHO.

[QuarterMillionMan]

With the 3 new laws being passed for cryptos I expect a golden age for cryptos now. For those who think they are late to the game, I think you have not seen the all time highs (ATH) yet. I expect cryptos to rocket in the near future.

[QuarterMillionMan]

Another good promo at Coinbase, make any crypto trade and be entered to win one $50K USDC or 200 Solana winners (each Solana is worth $173).

[myrdale]

Wow! That's scary. Imagine if Vanguard could suddenly go under and keep all of the money everyone has invested there. If I bought through Coinbase, I'd be sure to transfer it out immediately as soon as I was able. I wouldn't leave a penny sitting there that legally isn't mine.

Whats also scary are the stories where someone inside the company steals the crypto invested there. There was a story on the news along these lines last month. They traced the funds to North Korea, but they were long gone by the time they realized it.

Those gas fees I mentioned above apply just as well to moving crypto in and out of your wallet. But then again there is a cost to writing a check just as well.

[myrdale]

The supermarket doesn't take bitcoin. The gas station doesn't let you fill your tank with Ethereum.

Some do.

Now is it a good deal, I'd assume not. I have no clue what their gas fees are.

[disneysteve]

But technically, Coinbase is an exchange where Coinbase holds the cryptos and in an unlikely event where let's say Coinbase goes bankrupt they can liquidate my cryptos and pay off their stakeholders/creditors with my cryptos leaving me with zero.

Wow! That's scary. Imagine if Vanguard could suddenly go under and keep all of the money everyone has invested there. If I bought through Coinbase, I'd be sure to transfer it out immediately as soon as I was able. I wouldn't leave a penny sitting there that legally isn't mine.

[QuarterMillionMan]

In general they are just 2 different accounts. But technically, Coinbase is an exchange where Coinbase holds the cryptos and in an unlikely event where let's say Coinbase goes bankrupt they can liquidate my cryptos and pay off their stakeholders/creditors with my cryptos leaving me with zero. Arculus is a cold storage wallet where I hold the keys and I possess the cryptos. Hard core crypto enthusiasts say, "not your keys, not your cryptos." Coinbase offers numerous promotions where I gravitate buying from Coinbase such as recurring buys earn $5 in bitcoin or make 3 new crypto purchases worth $10 each not in my current account and earn $10 in free bitcoins for a total of $30 in free bitcoin. I get carried away and buy $300 at a time of new cryptos, not just $10 of new cryptos. And Coinbase is easy to use so I just buy from Coinbase and transfer the cryptos to my Arculus later. When I buy from Arculus directly (or Trezor or Ledger also cold storages similar to Arculus), the transactions can take 1 week to process, if it goes thru. Other times the transactions gets denied, I think from my bank or it could be the payment systems they use such as Moon Pay, Sardine, Topper, etc. Or the fees are a lot higher than Coinbase so I'll price shop before making a purchase but timing is also important and Coinbase is the most reliable so again I'll buy from Coinbase then transfer it over to my cold wallets which could also incur more fees but not always the case such as this recent Algorand transfer. Bitcoin always incurs fees on the buy and the transfer but it's just the price of doing business with bitcoin. Legacy banks must be itching to use ISO 20022 compliant cryptos for cross border transactions which cost pennies to transact in seconds compared to the old SWIFT system which takes days and cost a lot more.