Second day of Chinese New Year. I’m at my wife’s colleague’s house, supporting her by keeping an eye on our children while she yaks merrily with her colleagues. Sounds like a recipe for boredom.
But it got me thinking about how much of Chinese culture is influenced by money. Look at what we give children as a good luck token, wishing for their health and prosperity:
Children are taught from young to give their elders two mandarin oranges and receive red packets in return. Guess that our love of money is intertwined with our DNA. 🧬 LOL.
I have spent enough time on Stacker News that the thing that Stackers value most may not be the appreciation of BTC. It is the liberation afforded by receiving and spending sats in an environment you create yourself, removed from the chains of fiat.
So, my culturally money-obsessed mentality prompts me to ask: are there better interest-yielding opportunities that you willingly give up so that you can go all in on BTC? Say, S & P 500? That you can’t be bothered to diversify because BTC is the only asset that matters to you?
I'm surprised so many people have a retirement fund here. Seems nonsensical in the face of bitcoin
lol!
Given that the world functions largely in fiat in my country, I would think it amiss not to have a retirement fund in fiat. It’s just practical that way
The vast majority of our household wealth is not in Bitcoin. Aside from the house we live in and retirement funds, though, I'm not very interested in other investments.
Some of that reticence for me comes from the argument that bitcoin is going to destroy the monetary premiums of all other assets, as it becomes more heavily adopted.
How is America’s development of a CBDC coming along?
Though my not-very-informed opinion leads me to think that USDC will wrestle part of the market share from both Bitcoin and CBDC?
People greatly overrate the competence of the US government. I don't think a US CBDC (of the type dissidents are most concerned about), is anywhere close to being developed.
House, bitcoin, land, retirement fund. I will probably give up land for more btc when the opportunity arises, because they're located in an environment where property rights are not always respected.
Or build a house on that land and sell it for BTC as I've tried to do in 2013 - 2014. :)
🤔 not a bad idea, actually. Thanks!
Any chance of earning passive income by renting your land or property out?
I think even if btc is a better investment vehicule for the future, the old saying « not all your eggs in the same basket » still applies… unexpected shit happens sometimes…!
Very practical haha
I missed you in the Saloon!
Perhaps it's time for the old to meet the new?
You could pop a nice, fat lightning QR code into the red envelope as well and help them know how to use it.
Maybe the older, Mandarin lovers would like a code too? After all, it's obvious that they're partial to orange...
You know what? That’s a really good idea. After sending them a link to download their sats from Lightsats etc, I could send them my referral link to Bitrefill so that they can sign up and give me referral rewards
Circular economy at its best!
Personally, I think that the less exposed we are to Counterparty Risks, the better it will be for us. I consider gold, silver and bitcoin to be the only assets you can have with complete freedom from counterparties... SP500 and other assets are subject to dependence on a third to liquidate, move, transfer hands among other things and the most creepy of all the "risk of non-payment"...
I’m curious! I want to buy some gold myself haha.
Do you keep your gold with a bank or in a vault inside your house? If you don’t mind sharing, that is
If you don't touch it, it's not yours!
I do have other investments because I don't want to be forced to sell BTC when I need the money for an emergency, etc.
It's good to have other investments that you can sell when you are in financial issues and keeping your precious BTC intact.
I agree 💯 …so much easier selling paper without feelings of failure.
house, retirement fund, bitcoin
Bitcoin only ❤️
Those are really cool I want one lol
I'm saving in Bitcoin, not investing.
If I were to actually look for investment opportunities, I'd maybe look at something like MSTR, which is a productive business on top of a Bitcoin treasury, so can be reasonably expected to outperform it.
Dangerous cult mentality.
A little diversification is healthy.
House, land, XMR, BTC, ETH
Bitcoin and ETF (like total world stocks). Bitcoin percentage became bigger overtime.
Diversification is useful, but if you've got a few years sats is where it's at.
Bitcoin only for sure
401k, retirement funds, house, Bitcoin!
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That’s true. My wife doesn’t even know I’m into Bitcoin. I think she will flip if I invest only in sats and forgo a retirement fund