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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LOL! This one wins the internet for me today
At the very least, not allocating at least 1% of your net worth to bitcoin is insanely risky.
you shall allocate according to your knowledge level, at the price you deserve
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’.
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).
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.
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
If ur not all in btc with every last penny scraping at the table for dinner scraps then ur not a real bitcoiner!!!!!
KYC/AML. There's zero upside to consumers but plenty of risk.
If anything it actively harms
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THE BIGGEST RISK IS NOT TAKING ANY RISK
One great risk is buying a shitcoin in loads and hoping it will make you a millionaire.
except for my shitcoin. it's not like the others 😩
Lol. What shitty coin are you talking about, if I may ask.
cumrocketsocketwrench inu obviously, the future of france
Trusting the government
Driving drunk
Life
There many things or habits that are risky and no many people realize.
Some examples are:
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.)
Holding dollars
holding WHAT?
We don't talk about shitcoins here 🤣
Having one of anything critical to your life or important. One is none.
how long till i can retire on 1 sat?
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.
Moving everything online.
we forget that we're biological
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.