Crypto Bitcoin and Fiat

Definitely. Often the hardest thing to do as a trader, is not make a trade. It could be many months of sideways.

 

Last year during April to October bitcoin went sideways. Mid June there was a dip, slightly up July & August then dip on mid September. One week feels like one month in crypto. 6 months is like an eternity in crypto!

 

I haven't traded for about a month... feels like years ago.

 

ETHBTC breaking out. Generally it indicates local top for BTC and a sharp BTC sell off. It’s probably good for the cycle as it will prolong the BTC cycle. Probably a good time to enter into alts and take profits on 30-40% rally. Eventually we will see a flush in market and excessive greed will get punished. Not financial advice.

 

I must admit market looks pretty bearish. Average ETF buys @$53k. Once prices go below that level $48k is the next support zone. I think a lot of spot demand will be coming at this level. Do remember this is the first cycle where we retail investors are aware of the crypto cycle. Max pain is probably under $40k.

 

WARNING, DO NOT DO THIS as you could lose all your money!

I just wrote this FutureMe.org template:

Futureme.org is a site which lets you send messages to yourself. The idea here is to force yourself to hodl by temporarily taking away your own ability to sell.

1. Make yourself a new 12-word seed phrase, and corresponding wallet.
2. Send bitcoins to the new wallet.
3. Securely keep the first 9 words of the seed phrase somewhere. Treat this as you would a full seed phrase (i.e. backups, safes, steel plates, etc).
4. Paste the last 3 words of the seed phrase into the futureme message. Don't record these 3 anywhere else, and don't memorise them.
5. Pick a date and email address, and send. It doesn't have to be ten years, could be a few days.
6. Delete the new wallet you just made - yes, the one that you just sent a few bitcoins to.

You won't be able to spend that money until you get the message in the future, which will enable you to restore the wallet again.

The 9/3 split is important - 3 words can be brute forced in a reasonable time should futureme fail. If you mess that up and choose 8/4 or worse, you could be waiting 32,000 years to get your money back.

If this goes over your head in any way, DO NOT DO THIS as you could lose all your money!

I do this, and thought I'd share for entertainment purposes.

p.s. There are other, more technologically advanced ways of doing this using cryptography and bitcoin's own transaction programming (i.e. constructing a transaction that can only be spent after a certain block height), but that's even trickier to pull off.

 

Wow! When is the date you have set to receive the email?

 

Source: Spot Bitcoin ETFs Ready to Launch on Australia’s Stock Exchange in 2024 - DailyCoinPost

 

Ok me first, crypto makes up 0.8% of mine and hubby’s net worth(including super). What % have people invested and what is a reasonable allocation? Thinking of putting a lot more in if the price drops massively, although hubby will most likely freak out!

 

10 years, but big disclaimers: I'm
a) somewhat of an expert and confident in everything self-custody, and
b) very obviously not sending my entire stash to 2034, only a small portion of it!

 

I started off initially with 0.75% of net worth. It's 5X'd.... And is now current 2.1%.

 

7% for us

 

I aim to be between 5-10%.

 

I think most pension funds will have minimum 5% in bitcoins within this decade. Bitcoin on a full bull to bear cycle average return historically has been 20%. I think as both upside and downside gets muted the 20% annual returns likely to continue. Not financial advice.

 

5%! Pension funds surely are historically quite conservative? 5% seems huge what is your rationale?

Do you think they'll reach 5% through deliberate target asset allocations, or through growth ramping up faster than their ability to re-balance portfolios?

 

If you really think about it a 5% allocation on asset that grows at 20% annually isn’t that much. It will mean that these 5% will come out of many other investment products. Fidelity has done a research and it’s very conservative and makes a lot of sense.

https://institutional.fidelity.com/app/proxy/content?literatureURL=/9911424.PDF

 

HK thinks they can beat US first day BTC ETF inflows.
Press Briefing With ChinaAMC Executive Ahead of Tuesday Launch of Hong Kong Spot Bitcoin and Ether ETFs

 

I think it's more useful to look at things as a percentage of gross worth, e.g. if we look at property a lot of people have property 400% of their net worth because of the loans against it. Having said this, my loans are a lot less than they used to be. Currently the LVR of all my investments combined is about 30%.

Crypto % of gross investment assets is about 20%
As a % of net investment assets would be closer to 30%

If I didn't take profits it would be quite a lot higher, too high to be reasonable considering the Risk/reward is not as good as it was at low prices.

 

Wow this coming bull run will make you a zillionaire!

 

How are people on SOL? It's down 30% on the last month.

Thinking of putting my hat into the ring!