Are you accepting Crypto payments
- Thread starter krishatnet
- Start date
frm
Community Explorer
Then just invest in reputable ones like Bitcoin, ETH, and even Ripple (as they've been actively fighting in court). You can ignore the rest.
The statement you made about ethics and sustainability could apply to practically any market, including the stock market, as there are OTC, and hedge funds manipulating every ticker to make it do what they want to make a quick rack while you make or lose a penny.
This only leaves you left with T-bills as an investment vehicle. But, do you trust the government to not collapse under trillions of debt? The ethics of T-bills are that you're also funding bombs being dropped all over the world.
Making money is never ethical. There is always a link in the chain where ethics are blurred. But, I guess that's okay if you don't think about it too hard.
Heck, even my investment in gold and silver can be unethical. I don't know where the raw materials were sourced. If I thought about that, I'd be a poor man sitting on cash that's losing value as each passing day goes by.
frm
Community Explorer
That's on you then. If you think a cost of living adjustment or raising your prices each year will allow for a better retirement along with cash only, unless you are already a millionaire (as I dont think 6 figures will cut it) you're going to be sadly mistaken while eating Top Ramen into retirement till the day you die.
Just saying... to each their own.
frm
Community Explorer
All good advice. But, I'd be concerned with someone who has "no investment vehicles" (as that means they have only cash), because the age to collect SS might rise between now and then, along with the amount you receive reduced, as we are in a debt crisis and need to pay it somehow, so some people are going to take cuts.
All my spare money goes into investing. I can heavily invest my income because I learned to, and still do, live well below my means, with 30% of it going into riskier assets like LEAPs (options contracts), because the projection is still a $2.5m retirement account by 65, so I won't have to rely on SS if it's not there for me by then (I think it's 67 1/2 now).
As far as my crypto goes, it's in cold wallets (I have $10k of SYSCOIN locked up because I lost the key, but that's another matter that I'll address if it grows more than that). My hot wallets aren't linked to anything, and I make decentralized swaps here and there between cryptos to gain more, or, make trades with a bullion dealer for gold/silver. I got what I have from exactly $0, but I did invest time in a grey hat effort to collect (as a group) millions of Stellar (now Lumens) from their 1000 STR (XLM) airdrop per email address, and having done blackhat SEO before, I had access to plenty of email accounts. So, I took that and put it into BTC, etc., and the rest is history. I didn't know at the time a couple of hours of organization/work would have led to such a great amount... but here I am. Had I known how to purchase Bitcoin at the time, I would've at least bought $10 worth and just forgotten about it. Somehow, it slipped under my radar until it was too expensive (but in retrospect, not) to take the risk.
But, if they aren't concerned with keeping cash only, then I shouldn't either. I'm not a certified CPA/CFP (though I could be if I wanted to take the time for that, with really no upside except an extra suffix to add to my name), nor their accountant, just looking out for their wellbeing... but if they don't seem to have a care for it, then neither should I.
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