Any of you guys have superannuation in crypto?

I have a meeting with an accounting firm that specialises in crypto to set up a Self Managed Super Fund (in Australia). SMSF’s do have high fees due to being heavily regulated, but the potential gains are worth it.

I think the next few months will be the ideal time to establish a position and ride the bull market until the likely top at approx mid 2021, if the speculated 4 year cycle is anything to go by.

(04-12-2019 12:51 AM)[email protected] Wrote:  Ended up naked shorting around 15% of my stack at 5230 and bought back in at just above 5k. Was it worth it? No. I think the next few months are ideal for dollar cost averaging in with the idea of holding for 2-2.5 years.

Sometimes it can be quite a bit stressful to both figure out if you are going to sell a bit (whether it is 10% or more), and attempting to ride out the wave, when the price moves against you... and then to figure out if you have enough confidence to wait for the price to come back down to a level of confidence.

I am too chicken shit for that, and I think that in the 30% rise from $4,200 to $5,456, I sold somewhere in the ballpark of less than 3% of my stash, and so far, I have bought back less than .5%.... So that money is just there, in case the price goes back down, but if the price does not go back down, that's o.k. too.

I would get way too stressed out if I sold more than a few percentage at any one time, but that is just me. If the price goes down, it feels good to have sold, but what are the chances currently? in the 50/50 arena?

(04-12-2019 02:04 AM)Windom Earle Wrote:  Any of you guys have superannuation in crypto?

I have a meeting with an accounting firm that specialises in crypto to set up a Self Managed Super Fund (in Australia). SMSF’s do have high fees due to being heavily regulated, but the potential gains are worth it.

I think the next few months will be the ideal time to establish a position and ride the bull market until the likely top at approx mid 2021, if the speculated 4 year cycle is anything to go by.

A decent amount of the power of bitcoin is to own it directly. If you are holding it through third parties, then that might be profitable, and it might be within your accepted tolerance of whatever limitations that they place on you. I would not mess with those third party funds beyond perhaps a few percentages of my stash or if there is some way that my 401k would be able to be utilized in that fund and does not allow me to own directly through that kind of institutional fund. Otherwise one of the significant powers of bitcoin is to figure out ways of individual ownership and individual custody without third partly limitations and risks (even if they are supposedly going to pay you.. but instead you seem to be describing a situation that you are paying them to manage your funds.. worth it? Maybe, maybe not.).

(04-12-2019 02:04 AM)Windom Earle Wrote:  Any of you guys have superannuation in crypto?

I have a meeting with an accounting firm that specialises in crypto to set up a Self Managed Super Fund (in Australia). SMSF’s do have high fees due to being heavily regulated, but the potential gains are worth it.

I think the next few months will be the ideal time to establish a position and ride the bull market until the likely top at approx mid 2021, if the speculated 4 year cycle is anything to go by.

I've been told by an accountant that if you have less than 200k in your super it isn't worth it because of fees. I only have only 50k in my super and wouldn't mind throwing all of it into BTC. I've been putting in money into my super for 7 years and the managing fund has done nothing but collect management fees and make me zero profit (I even asked to switch around investments to the more risky stuff).

If it goes well could you drop me their contact?

https://www.zerohedge.com/news/2019-04-1...lity-fears

Interesting correlation...I see increasingly bitcoin and crypto as a hedge against unresponsible behaviors from central banks and governments.

Volume plummeting again...

http://data.bitcoinity.org/markets/volum...inbase?t=b

(04-13-2019 10:16 PM)Lampwick Wrote:  Volume plummeting again...

http://data.bitcoinity.org/markets/volum...inbase?t=b

Doesn't look like it is "plummeting" to me.

With trade volume you usually need to look beyond the daily candles and frequently weekly is even better than the three day candles, for measuring and trying to see a pattern. and usually you need to look at a few weeks and in context.

Furthermore, BTC trade goes in spurts, and of course, price came up to $5k within the last two weeks, so price consolidation is likely currently taking place along with smaller attempts to test whether the price is going up or down.

Weekends tend to be lower in trade volume, too.

Anynow, what you had shown, in terms of trade volume on the daily candles, is not really saying anything about where we are right now beyond perhaps that there might be a bit of consolidation going on, currently and such consolidation could last for a several days or even a couple of weeks before we see further action. I don't expect the price to stay here without some kind of additional test either up or down in the coming days.

But hey, who knows? If we see low volumes on the daily.. all week long, then I might be willing to agree with you.

(04-13-2019 01:16 PM)Giacomo Casanova Wrote:  https://www.zerohedge.com/news/2019-04-1...lity-fears

Interesting correlation...I see increasingly bitcoin and crypto as a hedge against unresponsible behaviors from central banks and governments.

A reason why I am keeping a moderate stash of diversified Cryptos in case the SHTF:

Jim Rickards Strategic Intelligence Report latest severe Gloom and Doom about the USA and De-dollarization:

The Takeaway the USA and our Trading Partners are about to become fully screwed by the end of 2019... Hope this is more FUD than Fact but as the old saying goes best to know about and plan for the worst when hoping for the best... The bad news is even worse than I thought.

https://pro.agorafinancial.com/p/AWN_bri...NV489/Full

An International Advantage America Has Held for 75 Years Will Start to Unravel... October 18, 2019

Yeah I agree nowadays it's risky to keep the savings in stocks but also in USD...there are tons of indicators pointing for a new recession or an extreme hyper inflation.
I advise about listening this brilliant podcast about bitcoin monetary policy and modeling pricing based on stock to flow. I learned a lot with this episode:
https://stephanlivera.com/episode/67

Here's the way I see it.

At best, the stock market will get you 10% a year on average. You might lose 10%.

With Bitcoin, there's a good odds that it will return 2000%. (100k) in 6-10 years...my time horizon. In many ways, Bitcoin is designed to reach 100K. It's mathematically inevitable as John Macafee says. Downside is at most 50%.

So I'd be a idiot not to put 20% in.

^^ that's my line of thought with crypto, 10000 dollars wont change my life really for better or worse but 100,000 or 1 million if my alts prosper the way some think they could would completely change my life.

(04-18-2019 09:45 PM)AWright Wrote:  ^^ that's my line of thought with crypto, 10000 dollars wont change my life really for better or worse but 100,000 or 1 million if my alts prosper the way some think they could would completely change my life.

There's also the possibility in 10 years that 1 BTC trades for a million dollars while retaining the purchasing power of ~5000 of today's dollars.

(04-19-2019 10:00 AM)BBinger Wrote:  

(04-18-2019 09:45 PM)AWright Wrote:  ^^ that's my line of thought with crypto, 10000 dollars wont change my life really for better or worse but 100,000 or 1 million if my alts prosper the way some think they could would completely change my life.

There's also the possibility in 10 years that 1 BTC trades for a million dollars while retaining the purchasing power of ~5000 of today's dollars.

great point. The dollar could lose 95% of it's value. If that's the case, I should put 100% of my savings into bitcoin.

(04-11-2019 11:57 AM)Pinocchio Wrote:  In the UK you would need to spend more than £12k before paying tax, not sure what it is for EU but it's prob something similar. I think the card could be useful if you're actively trading and want to spend a bit profit.

Yes, unless you're non domicile and have an offshore account.

(04-19-2019 03:56 PM)MrLemon Wrote:  great point. The dollar could lose 95% of it's value. If that's the case, I should put 100% of my savings into bitcoin.

Well, one of these two things lost 75% of its value recently.

(04-19-2019 05:34 PM)Lampwick Wrote:  

(04-19-2019 03:56 PM)MrLemon Wrote:  great point. The dollar could lose 95% of it's value. If that's the case, I should put 100% of my savings into bitcoin.

Well, one of these two things lost 75% of its value recently.

Not for me. I bought at 2500 and 5000.

It doesn't "lose value" if you hold through the dips. You just ignore the short term gyrations. Investing basics.

https://mobile.twitter.com/IMFNews/statu...2365637632

They start to think about making acceptable getting negative interest rates for "stimulating the economy" and even detailed the way to achieve that.
That's extremely scary for FIAT currencies...

Inflation begins to be a reality already in emerging countries
https://bitcoinist.com/brazil-highest-in...ng-volume/
https://www.bloomberg.com/news/articles/...t-in-march
https://bitcoinist.com/argentina-central...n-bitcoin/

Just hodl bitcoin.

Broke 5500.

Here's an interesting short little article from a few days ago about retired people not really knowing about bitcoin.

https://cointelegraph.com/news/3-of-amer...-is-survey

Personally, I doubt that it makes much difference about your age, because most people, young or old, have few clues about what the fuck bitcoin is, even if they may have heard the name. Young people might be willing to tak a bit more risk with their investment, based on their timeline, but older people will generally have a lot more money that they can invest (at least move around their various investments, even if the investmnt habits of Americans is likely to be subpar, as compared/contrasted with their inclination to consume... or gamble)

(04-23-2019 07:04 AM)JayJuanGee Wrote:  Here's an interesting short little article from a few days ago about retired people not really knowing about bitcoin.

https://cointelegraph.com/news/3-of-amer...-is-survey

Personally, I doubt that it makes much difference about your age, because most people, young or old, have few clues about what the fuck bitcoin is, even if they may have heard the name. Young people might be willing to tak a bit more risk with their investment, based on their timeline, but older people will generally have a lot more money that they can invest (at least move around their various investments, even if the investmnt habits of Americans is likely to be subpar, as compared/contrasted with their inclination to consume... or gamble)

Fuck no I wouldn't put my retirement money into bitcoin.

Why would I do that when I can invest in known enterprises which have "assets" "sales" "known management" and "profits" which pay "dividends."

If listed public companies deceive in their SEC filings, the management can go to jail, see Enron.

If bitcoin goes to zero, who could I sue? Satoshi Nakamoto? Yeah, exactly. Why the anonymity?
Nobody's accountable.

Bitcoin and all the shitcoins could be the biggest Ponzi in history.

It could even be a psyop designed to crush all resistance to neoliberal monetary policy from libertarian Ayn Rand nerdbros.

Every aspect of bitcoin and shitcoin seems diabolically designed to suck nerdbros in, including the cool blockchain idea and the waste-of-energy "mining" shit.

I don't see the underlying value, other than speculation and mystical faith.

I might be wrong, but can you prove I'm wrong?

1 bitcoin is now worth 5500 dollars and it's the best performing asset of the last ten years. That's the history. Surely nobody knows what will happen in the future but so far bitcoin has been an excellent investment better than over inflated stocks, bonds or precious metals...

We are heading towards the greatest wealth transfer in human history. From the old to the young. From the non-tech savvy to the tech savvy. This may even lead to a period of peace, since it will be impossible to fund senseless wars if you have to voluntarily pay for it.

(04-23-2019 07:04 AM)JayJuanGee Wrote:  Here's an interesting short little article from a few days ago about retired people not really knowing about bitcoin.

https://cointelegraph.com/news/3-of-amer...-is-survey

Personally, I doubt that it makes much difference about your age, because most people, young or old, have few clues about what the fuck bitcoin is, even if they may have heard the name. Young people might be willing to tak a bit more risk with their investment, based on their timeline, but older people will generally have a lot more money that they can invest (at least move around their various investments, even if the investmnt habits of Americans is likely to be subpar, as compared/contrasted with their inclination to consume... or gamble)

Young people went through their pivotal years during the 2008 crisis. We don't trust banks. Most of us are poor though so it doesn't really matter, we don't have the capital to really do much.

I used to feel the same way as sp5. I still struggle to wrap my head around the market cap of bitcoin and especially these altcoins. On the other hand I see some of the uses now and am understanding it more everyday and what is possible with it. I have began to DCA each month while also continueing to invest in businesses that actually make money.

What really sold me is the governments around the world enforcing easy money policies and it seems like there is no end in sight. If they continue this I can't see how there will not be price inflation/ or worse consequences at some point. When that comes I want to have money in bitcoin, gold and silver. Not all of it but enough.