Bitcoin/Ethereum/cryptocurrencies

M

ManInBrown

Well-Known Member
DriveInDriveOut said:
Nothing wrong with diversifying extra on top of what you're putting into retirement, but I wouldn't tell anyone to consider crypto as a retirement investment, way too risky.

Now if you're going to ignore what I just said, you can get a self directed crypto Roth IRA, so you get the tax advantage of a retirement account. Alto crypto IRA has low fees but they don't have self custody. If that's really something you care about I think fees will be higher.
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Another thing I didn’t think about is when I sell the BTC I will have to pay taxes. My Roth is all my money. Money put in+growth. That makes it a no brainer. No chance the BTC route is a better option.
 
J

Jones

fILE A GRIEVE!
Staff member
ManInBrown said:
Serious question looking for honest opinions. Approx $325 per week goes into my Roth 401k. 15 years till retirement. What if I took that $325 per week starting immediately and purchased Bitcoin every week. I have a Ledger Nano, I would transfer the BTC right away and store there. No worries about my Coinbase account being hacked and being locked out for some reason, we’ve all heard the Coinbase nightmare stories. CS non existent. In 15 years at my retirement, which balance would be higher? Sticking with the roth, or purchasing BTC.

Now granted who knows what the price of BTC will be in 2,3,5,10 years. So I don’t know what my $325 weekly would get me in the future, but what would you guys do? Not contemplating doing it, just been thinking about which would be the better option.
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I've made a pretty good return on crypto and I would not do this. Max out your 401k first and then if you still have money available go ahead and load up on crypto. In another thread you said most of your money goes into Index funds (S&P500 and S&P400) and that's the smart high-percentage play, do that for the next 15 years and you'll be set for life regardless. Crypto is a gamble right now, it might pay off huge or it might go bust, don't gamble with your retirement. Just my opinion.
 
M

ManInBrown

Well-Known Member
Jones said:
I've made a pretty good return on crypto and I would not do this. Max out your 401k first and then if you still have money available go ahead and load up on crypto. In another thread you said most of your money goes into Index funds (S&P500 and S&P400) and that's the smart high-percentage play, do that for the next 15 years and you'll be set for life regardless. Crypto is a gamble right now, it might pay off huge or it might go bust, don't gamble with your retirement. Just my opinion.
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Totally agree and wasn’t even really contemplating it seriously. Was just spitballing in my head. I have a lot of down time this week as I’m on a peak shift job at a very small building😂down time is dangerous
 
burrheadd

burrheadd

KING Of GIFS
ManInBrown said:
Serious question looking for honest opinions. Approx $325 per week goes into my Roth 401k. 15 years till retirement. What if I took that $325 per week starting immediately and purchased Bitcoin every week. I have a Ledger Nano, I would transfer the BTC right away and store there. No worries about my Coinbase account being hacked and being locked out for some reason, we’ve all heard the Coinbase nightmare stories. CS non existent. In 15 years at my retirement, which balance would be higher? Sticking with the roth, or purchasing BTC.

Now granted who knows what the price of BTC will be in 2,3,5,10 years. So I don’t know what my $325 weekly would get me in the future, but what would you guys do? Not contemplating doing it, just been thinking about which would be the better option.
Click to expand...

How big a set of balls ya got?
This will determine your answer
 
BigUnionGuy

BigUnionGuy

Got the T-Shirt
1671068173503.png
 
Over70irregs

Over70irregs

Well-Known Member
Blockchain is only useful when used with (money). A blockchain is only good for one thing, removing the need for a trusted third party which only works with money. A blockchain cannot securitize items that exist outside the network (commodities).
 
Brownslave688

Brownslave688

You want a toe? I can get you a toe.
Over70irregs said:
Blockchain is only useful when used with (money). A blockchain is only good for one thing, removing the need for a trusted third party which only works with money. A blockchain cannot securitize items that exist outside the network (commodities).
Click to expand...
I mean this is just false on every level
 
Over70irregs

Over70irregs

Well-Known Member
Brownslave688 said:
I mean this is just false on every level
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A blockchain would (seem) to be able to track ownership outside the network, it can only apply ownership of the currency that is native to its network. Therefore you have to trust unverified 3rd parties to custody and run cloud nodes with no oversight. (True fact) Just read this a few times. It will click for those with a little technical background.
 

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