What is ACTUALLY risky?
5127 sats \ 30 comments \ @birdeye21 5 Sep 2023 meta
Some might call out our psychopathic BTC buying, but I'm sure most here would argue Bitcoin is really for the risk averse.
So, what are the everyday risky behaviors that society (and/or the market) engages in?
Keep in mind that risk ≠ bad (but it certainly can be sometimes)
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1053 sats \ 1 reply \ @Longtermwizard 5 Sep 2023
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7 sats \ 0 replies \ @TheBTCManual 5 Sep 2023
LOL! This one wins the internet for me today
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892 sats \ 1 reply \ @antic 5 Sep 2023
At the very least, not allocating at least 1% of your net worth to bitcoin is insanely risky.
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0 sats \ 0 replies \ @birdeye21 OP 5 Sep 2023
you shall allocate according to your knowledge level, at the price you deserve
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518 sats \ 1 reply \ @TheBTCManual 5 Sep 2023
For me its about balancing risk, like I buy Bitcoin because I am shit scared my local fiat can collapse at any second, its already lost 12% of its value to a declining dollar this year alone so fuckit, all in right?
But I still need to face reality that I have fiat bills and I don't want to ever have to sell my bitcoin or be a forced seller so having a cash balance I just see as buffer for that, I am willing to play the inflation premium to never be a forced seller at a price I don't think Bitcoin is worth
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0 sats \ 0 replies \ @birdeye21 OP 5 Sep 2023
If ur not all in btc with every last penny scraping at the table for dinner scraps then ur not a real bitcoiner!!!!!
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518 sats \ 2 replies \ @carlosfandango 5 Sep 2023
Interesting…. Relying on a single asset or entity to provide for your financial needs in the future. My favourite phrase in this vein from a certain generation has always been; ‘my house is my pension’.
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620 sats \ 1 reply \ @orthwyrm 5 Sep 2023
Or pensions in general, really.
While there are various tax advantages and contribution schemes to make the risk / reward ratio more palatable, pensions are highly vulnerable to regulatory change over the course of decades (haircuts, raising retirement age, etc.) One cannot simply rotate their capital out of pensions to avoid this in the same way you can with bank accounts or commodities.
In UK TradFi circles, the common mantra is to max out pensions above the 40% tax bracket (£50k salary). Personally I think that it's no coincidence that the assets which get the most tax breaks (pensions and real estate) are also the ones where capital is most difficult to liquidate and remove from government control, and that these incentives exist for a reason.
I do not think the risks of pensions are appreciated. I would rather self-custody BTC at a 40% cut than the full amount locked away in a pension I won't see for +40 years (if ever).
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64 sats \ 0 replies \ @carlosfandango 5 Sep 2023
The UK is in an interesting place with its current political incumbents seemingly at the mercy of financial market lobbying groups. And as an aside they honestly thought that changing tax thresholds around pensions were going to get a depleted post-COVID workforce back? Lunacy.
I can see from your points how pensions are vulnerable over the long term and it locks your money away (which is a good thing for some people). Once decent company / civil service pensions are getting hammered and changing rules around social care contributions present a significant risk to retirement savings, property, inheritance and pensions. The poorest people are saving nothing towards their retirement out of fear of having it taken away and will throw themselves on the mercy of the state.
Many people will have an impoverished retirement if they manage to retire from work at all. People will literally have to work till death.
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42 sats \ 0 replies \ @PRA3S3NT1A 6 Sep 2023
THE BIGGEST RISK IS NOT TAKING ANY RISK
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25 sats \ 0 replies \ @OC 5 Sep 2023
Trusting the government
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52 sats \ 1 reply \ @jgbtc 5 Sep 2023
KYC/AML. There's zero upside to consumers but plenty of risk.
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0 sats \ 0 replies \ @birdeye21 OP 5 Sep 2023
If anything it actively harms
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22 sats \ 0 replies \ @mudbloodvonfrei 6 Sep 2023
Life
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22 sats \ 0 replies \ @Bitcoiner1 6 Sep 2023
There many things or habits that are risky and no many people realize.
Some examples are:
  • leaving YOUR Btc in an exchange.
  • being all your assets concentrate in your HOME.
  • Not having any BTC and cash at hand on the event of a bank run.
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22 sats \ 0 replies \ @crrdlx 5 Sep 2023
Paying an insurance company for coverage that you pray you'll never use.
(I can't decide if losing that money...where you never have an insurance claim...is a win or a loss.)
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21 sats \ 2 replies \ @kepford 5 Sep 2023
Having one of anything critical to your life or important. One is none.
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0 sats \ 1 reply \ @birdeye21 OP 5 Sep 2023
how long till i can retire on 1 sat?
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0 sats \ 0 replies \ @kepford 5 Sep 2023
I doubt anyone alive today will be able to retire on 1 sat. But my statement doesn't apply to money really. Think physical goods, digital files like photos, escape plans, transportation, water supplies, food, shelter, etc.
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21 sats \ 2 replies \ @sudonaka 5 Sep 2023
Holding dollars
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3 sats \ 1 reply \ @birdeye21 OP 5 Sep 2023
holding WHAT?
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0 sats \ 0 replies \ @Public_N_M_E 6 Sep 2023
We don't talk about shitcoins here 🤣
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21 sats \ 3 replies \ @fredosha 5 Sep 2023
One great risk is buying a shitcoin in loads and hoping it will make you a millionaire.
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20 sats \ 2 replies \ @birdeye21 OP 5 Sep 2023
except for my shitcoin. it's not like the others 😩
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0 sats \ 1 reply \ @fredosha 5 Sep 2023
Lol. What shitty coin are you talking about, if I may ask.
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21 sats \ 0 replies \ @birdeye21 OP 5 Sep 2023
cumrocketsocketwrench inu obviously, the future of france
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21 sats \ 1 reply \ @bourbaki 5 Sep 2023
Moving everything online.
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0 sats \ 0 replies \ @birdeye21 OP 5 Sep 2023
we forget that we're biological
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24 sats \ 0 replies \ @andrews 5 Sep 2023
Driving drunk
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17 sats \ 0 replies \ @criptopanas 5 Sep 2023
Getting income from only one source.
Many people chose to work as an employee for a company, because it is a safe path....But, they don't realice that they are putting all the eggs in the same basket.
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