30 sats \ 1 reply \ @mallardshead 21 Aug 2023 \ on: Should I go 100% into btc? bitcoin
If you have to ask, it's a subject to ponder wether or not you're ready. Hang around long enough though, and eventually the network becomes boringly dependable, self-custodial actions become habits, like grabbing keys on your way out the front door. It used to be 100% of what I SAVED went into bitcoin. Now it's 100% of what I MAKE and SAVE. I modify my spending behavior and consumption based on bitcoin's quote price.
If you have people you're responsible for, intend on buying a home in the short-term, or struggle to pay any bills, DO NOT put all of your money into bitcoin, because its volatility on this side of monetization will eventually put you in a precarious position.
If you are ready to make this move, make certain your security, self-custody, and hot wallet game is A+, and learn how to use DEX's to avoid all taxable events.
Thank you, great answer, lots of things to consider. I'm not responsible for anyone else than myself, however I do not own anything else than a little bit of BTC. Some shitcoins (as some maxis would say lol) and some stocks. Definitely need to invest in real estate. I haven't done so because of interest rates being way too high, and I was holding on this to see if the housing market makes a correction, but I don't know if that's gonna happen though...
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